Reviewed broker: ForTrade
Established in 2013
Traders from the following countries are not accepted: United States, Belgium, Israel
Regulation: FCA, ASIC, IIROC, CySEC, NBRB
- Fortrade Limited – authorized by FCA (UK) registration no.609970
- Fort Securities Australia PTY LTD – authorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number: 493520
- Fort Securities LLC. – authorized by the National Bank of the Republic of Belarus (NBRB) registration FRN: 193075810
- Fortrade Canada Limited – authorized by IIROC (Canada)
- Fortrade Cyprus Ltd – authorized by CySEC (Cyprus) registration no. 385/20
Traders can access a wide range of markets at Fortrade:
- Currencies – Trade over 60 forex pairs from around the world, including majors
- Precious metals – Trade long and short on gold, silver, copper, platinum, and palladium
- Indices – Access world-leading market indices such as the FTSE 100 and DAX 40
- Commodities – Trade on energies and agricultural products including crude oil and sugar
- Cryptocurrencies – Trade Bitcoin and other crypto coins against the US Dollar
- Bonds – Trade on 5-year, 10-year, or 30-year US Treasury notes and bonds
- Stocks – Buy and sell equity CFDs in some of the largest global companies
- ETFs – Trade long or short on Exchange Traded Funds
- Clear and Simple Trading
- Secure, Trusted, Reliable
- Bulls and Bears, Any Time, Any Where
- Maximum Potential, Minimum Effort
- From Long to Short in the Blink of an Eye
Fortrade Review : Trading Platform Features
Fortrade trading platforms have widespread use, providing a solution to every investor’s profile regardless of the level of knowledge. We are at your service with award-winning trading platforms equipped with cutting-edge technologies and capabilities to help you manage your investments securely and easily from your mobile device, the web, or your PC/MAC.
Trading platform: Fortrader (desktop, web, mobile)
Stay connected and manage your account from anywhere and at any time. Easily turn your Android or iOS device into a virtual trading desk. Make smart and successful trading decisions from the palm of your hand.
Get immediate access to international financial markets without the need for installing any software whatsoever. Enjoy a reliable trading solution via an internet connection and a few clicks of your mouse.
MetaTrader 4 MT4 platform
Nevertheless, the company still offers as an option popular MetaTrader4, which is accessible through various versions for desktop, web and mobile accordingly. The platform features leading indicators, oscillators, EA strategies and automated desktop station that all in all bringing numerous options for smart investment and trading process.
Mobile app suitable for Android or iOS devices offered in the package as well. So you are able to stay updated about market conditions, manage your account and positions right from your mobile device.
Trading Conditions with Fortrade
Currency pairs: 51
Security of clients funds: segregated accounts
Demo account: yes and here is no time limit to your practice account. An initial virtual funds of €10,000 is automatically deposited into your practice account trading account
Account base currency: EUR, USD
Account types: standard
Minimum trade size: 0.01 lot
Fixed spreads: yes
Spreads: starting from 3 pips
Commission fee: no
Maximum leverage: up to 1:200
Leverage or a loan given by the broker to the trader enables you to trade with a larger size than the initial invested capital. Indeed, leverage significantly increases the potential to higher gains, yet in reverse, it does increase risk level too. Therefore, leverage may be risky at the point you set it wrongly or too high.
Fortrade offered leverage ratios also complies with the regulatory requirement in each jurisdiction it operates, so make sure to verify leverage conditions according to the Fortrade entity and your residence.
- Recent regulatory updates in Europe along with the ESMA regime set a maximum leverage level with a maximum of x30 for major currency pairs, x10 for commodities, x5 for CFD stocks and x2 for Cryptocurrencies with the purpose to protect retail clients. This leverage is used for FCA and CySEC regulated entities
- The Australian authority ASIC (Best Forex Trading Platforms Australia) still allows leverage ratio up to 1:400 for Forex instruments, which will allow the Australian client to use high leverage while trading.
- Belarus regulation set leverage to 1:100 for Forex
- Canada traders can use a maximum of 1:50 for Forex instruments and lower levels of 1:40, 1:30, 1:20, and 1:10 according to the instrument specifications.
Risk Management: Take Profit, Stop Loss
Fortrade Review : Payment methods within the broker
Payment options: wire transfer, credit cards, Skrill, Neteller
First deposit requirement: $500
The same methods apply for withdrawals, however processing times can take up to 5 business days for bank wire and up to 15 business days for cards. These aren’t the quickest timescales compared to other brokers. Also, any bank withdrawal fees incurred by Fortrade are passed on to the customer, which is usually around $40.
Fortrade Review : Customer Service
Online chat: available
Email support: yes
Phone representatives: yes
Fortrade Review : Educational Material and Promotions
The are numerous webinars, market research data, and analysis together with Trading Central option is at the client’s toolbar and disposal well-organized through Fortrade Academy. Research tools are also at a good level and either inbuilt into the platforms or available at the client resources.
Fortrade offers a comprehensive selection of educational resources and tools suitable for all levels. The Academy contains several online seminars, eBooks, training courses, tutorial videos, tips, and more.
Traders can also access a wide range of resources and market research from the Market Analysis centre, with morning, evening, and weekly news analysis, as well as Trading Central, a package of technical analysis tools.
Other practical features include a currency converter, calculators, and a useful economic calendar.
Fortrade Review : How was the rating of Fortrade performed compared to other brokers?
This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Fortrade FX broker performance and features.
Overall our online Fortrade review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Fortrade or you find inaccurate details Fortrade broker review please get in touch with us and the changes will be applied.