Fortrade Review (2023)

What is Fortrade?

Fortrade is established in the UK in 2013 as a trading provider with products and services for online foreign exchange and CFD trading. Further on, throughout its development, Fortrade opened its branches in Australian and Belarus, while recently enlarged even further and established branches in Cyprus and Canada.

The company aim has always been to make online trading more accessible, enjoyable and profitable, which also confirms its worldwide presence and what is more important heavy regulation. Hence, Fortrade opening tight and competitive spreads that vary according to the trading instrument and start from 4 pips for forex, through various leverage ratios, and a variety of promotions.

Making a good decision is most of the time very confusing process, thus the broker tries to simplify the issue by developing technology that provides an efficient environment at the beginning, yet includes powerful features for experienced traders.

Fortrade Pros and Cons

Fortrade has easy account opening and is regulated broker with respected licenses like FCA and ASIC, the education section is well-developed, platforms and research are on a good level, also costs are on average levels.

For the negative points, there is no 24/7 support, conditions are different in each entity also spreads might be high for some instruments.

Is Fortrade safe or a scam?

Yes, Fortrade is a safe broker due to its regulation, including top-tier FCA considering a low-risk broker for Forex.

Is Fortrade legit?

In the case of Fortrade, it is authorized and regulated by multiple authorities in reputable jurisdictions including the Financial Conduct Authority (UK) and ASIC (Australia). These two are actually some of the most serious world organizations that regulate financial services companies with a purpose to protect consumers, financial markets and promote competition.

In addition, Fortrade enlarges its trading proposal and moved on further by the opening of official entities in Belarus, Canada and Cyprus. Where, most importantly Fortrade is fully authorized, regulated and overseen in terms of its reliability and operation.

How are you protected?

According to these licenses, Fortrade operates under full compliance with numerous restrictions and guidelines to provide a secure trading environment for all transactions, while keeping client’s funds in segregated accounts and in the unlikely event protected by schemes.

Fortrade entity	Regulation and License
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

Leverage

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 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 a 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.

Account types

Fortrade mainstays on a single account feature, yet the options and conditions may vary according to the trading sizes and deposits. Firstly a client will sign in for the practice mode account or Demo account that delivers real trading with an option to discover all features of the platform with the notional sum of 10,000$. At the time you are ready to switch to real trading mode, you can easily click to the real account while there is no options between the different accounts.

How to open Account at Fortrade

Fees

Fortrade offers a rapid execution with no middle person in the process, thus all orders execute in real-time with no commissions or fees while all costs built into a spread. For full pricing, however, see funding fees, inactivity fees and non trading fees.

Spreads

Fortrade also offering only variable spread proposal, so that there is no confusion on the fees. Generally, fees are quite pleasant, while maybe only for Commodities fees might be lower with other competitors. Yet, always see and consider all the trading proposal in total, as not only good fees defining a good broker.

Comparison on most traded instruments you may see below, as well for information compare fees to another broker BDSwiss.

Other fees

Also, always consider a rollover or overnight fee, which is charged in case you hold opened position longer than a day. While traders following Sharia laws may apply for Islamic or Swap-free Account with Fortrade.

Instruments

The wide range of trading assets accesses more than 200 currency pairs including Cryptocurrencies like Bitcoin, with majors and minors, along with exotic pairs, index, stock, precious metals, energies and commodity CFDs. Also including Agriculture CFDs with zero commissions and flexible leverage.

Deposits and Withdrawals

All money manipulations, transactions and requests are done through you online account area where you can see fee reports, deposit or withdraw you money according to the regulatory rules.

Deposit Options

Fortrade supports several ways to deposit or withdraw funds to or from the trading accounts and accepts a range of options including all major credit/debit cards, bank transfers, Neteller, Skrill and PayPal.

What is the minimum deposit for Fortrade account?

Fortrade minimum deposit is 100$, however, for best results broker recommends depositing at least 500$ in order to be able to trade multiple instruments and cover all necessary fees. Also, this requirement may vary according to your account base currency and regulation in your resident jurisdiction.

Fortrade minimum deposit vs other brokers

	Fortrade	Most Other Brokers
Minimum Deposit	$100	$500

Withdrawal

Fortrade does not charge additional fees for deposits and withdrawals that are also subject to laws and regulations in a particular region. Withdrawal options are widely available including Bank transfers, Cards and some e-wallets like Neteller.

Trading Platforms

In the world of online trading, efficient market access is everything, which brings an ability to trade 24-hours a day at any place along with advanced tools that enhances trading and analyzing capabilities. To meet this demand, the Fortrade team of developers designed a line of fully-scalable trading platforms that enables to monitor global financial markets and derivatives, capitalize on price movements at the time and place most convenient.

Web Platform

The proprietary platforms available in three versions Fortrader Web, Fortrader Desktop and Fortrader Mobile that gives an ability to access trading throughout any convenient way, either on the go, by a browser or by installed version. While all process is performed via the powerful execution model through interbank quotes.

Desktop 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 Platform

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.

Customer Support

Fortrade international proposal also covering the support of their customers, hence providing around-the-clock customer service during working days available in multiple languages through its worldwide entities. Customer service available via emails, live chat, contact form or international phone lines and ready to answer through its service centers.

Education

In order to be successful in trading, you should also invest in education, to explore existing resources and create customized trading methods. Fortrade fully supports that strives while bringing comprehensive educational tools and generated the best possible data along with trading features.

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.

Conclusion

The Fortrade review shows an intuitive trading platform that has been designed to make online trading simple, fast and friendly. The good points are low deposit to start, well developed educational programs and up to date market information is a helpful tool for the new to trading, while professionals will find numerous solutions to their trading needs. And what is important, Fortrade provides a safe, secure, licensed and regulated trading environment as per their reputable regulators FCA (Check FCA Regulated Forex Broker Infinox), ASIC and others.