Best Binary Options Broker 2020!
Good Choice for Beginners!
Free Trading Education, Free Demo Account!
Get a Sign-Up Bonus Now!
2nd in our ranking!
Fortrade Review: We Ruthlessly Review This Leading CFD Broker
Sharing is caring!
Last Updated on November 19, 2020
Risk Warning: Your Capital is at Risk
Fortrade is a UK-based derivative brokerage firm that offers customers a platform for trading forex and Contracts for Difference (CFDs). CFDs allow traders to speculate on the price of assets without actually owning them in their accounts. Fortrade offers customers CFDs on forex, cryptocurrencies, stock CFDs, index CFDs, precious metals, energy products, agricultural products, US Treasuries and ETFs.
Fortrade traders have a choice between the broker’s proprietary Fortrader platform and the popular MetaTrader4 (MT4) platform. Both are available via web-based, desktop or mobile interface. Traders can access over 300 financial assets and employ leverage of up to 1 to 200 on forex pairs and 1 to 50 on commodity and index CFDs.
Fortrade emphasizes its user-friendly technology, scalable platform and its regulation by one of the top international regulatory bodies – the Financial Conduct Authority – as its strengths. Traders looking for a broker that is regulated across the European Union and offers access to CFDs across several major asset classes may want to investigate the offerings at Fortrade. Please remember that trading CFDs exposes traders to the possibility of losses. While Fortrade won’t allow you to lose more than you have invested in your Fortrade account, CFD trading is for experienced traders.
This Fortrade review will cover all of the important details about the broker to help you make an informed opinion about its products and services.
Why Choose Fortrade?
|What’s Good About Fortrade?||What Could Fortrade Do Better?|
Fortrade – Essential Information
History of Fortrade
Fortrade is operated by Fortrade Limited. The privately held firm was incorporated in the United Kingdom on July 22, 2020, under the name Integrisafe Ltd. The firm changed its name to Fortrade on May 19, 2020, and was registered by the Financial Conduct Authority (FCA) on May 20, 2020.
Fortrade has headquarters in London, United Kingdom. Its Financial Reference Number issued by the Financial Conduct Authority is 609970.
Fortrade provides customers with customer support 12 hours a day between 9 am and 9 pm local time in the United Kingdom. During this period, traders can contact the firm by phone or by live chat.
Traders can also contact Fortrade customer support by email and through an online form where they can leave a callback number and/or email for Fortrade to contact them. Traders can view the Fortrade website in English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian and Macedonian. Phone customer support is also available in multiple languages.
Where Does Fortrade Operate?
Fortrade serves clients in countries across the globe. However, Fortrade is not able to accept applications from residents of the following countries:
- Central African Republic
- Congo Republic
- Democratic Republic of the Congo
- Hong Kong
- Korea (North)
- New Zealand
- Papua New Guinea
- Puerto Rico
- South Sudan
- United States
- US Dependencies including:
- American Samoa/Guam/Northern Mariana Is/Puerto Rico/US Minor Outlying Islands/US Virgin
Fortrade supports 15 different languages on its platforms. The website is available in:
English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian and Macedonian
Can I Trust Fortrade?
We believe Fortrade is trustworthy since it is registered with one of the leading international regulatory bodies. The Financial Conduct Authority (FCA) regulates the firm in the United Kingdom (FCA registration number FRN 609970), while the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union.
Fortrade clients can also take comfort in the fact that the broker’s financial statements are audited by Fisher Sassoon and Marks – one of UK’s specialist financial services accounting firms.
|Regulator||Countries Covered||Protection Offered||Additional Protection Offered|
|Financial Conduct Authority (FCA)||Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.||All client funds are held in a segregated client bank account||Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if Fortrade fails.|
Financial Conduct Authority
The UK’s Financial Conduct Agency (FCA) regulates Fortrade’s activities in the United Kingdom.
The FCA is widely respected as a leader in financial regulation. In addition, the United Kingdom scores highly in Transparency International’s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption. Fortrade’s customers in the United Kingdom are protected by the UK-based Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail. FSCS pays compensation up to £50k to customers in the United Kingdom if Fortrade is unable to pay. Fortrade’s Financial Services Register reference number is 609970.
Who Runs Fortrade?
The CEO of Fortrade Ltd., since April 2020, has been Nick Collison. Nick has over 20 years’ worth of Senior Management experience within the financial services industry including proprietary trading, fully systematic algorithmic trading and forex & CFD matched principle broking. Prior to and contemporaneous with joining Fortrade, Collison served as a Director at Saxon Cambridge Algorithmic Research Ltd. (2009 to 2020). He served as a Managing Director at Saxon Financials between 2000 and 2020.
Fortrade Trading Products
Fortrade offers customers CFD trading in over 300 instruments grouped into nine categories: forex, cryptocurrencies, stock CFDs, index CFDs, precious metals, energy products, agricultural products, US Treasuries and ETFs.
The following are the products offered for trading in each of these categories:
- USD/CNH (United States dollar (USD) to China Offshore Spot (CNH) exchange rate)
- Bitcoin / USD
- Dash / USD
- Ethereum / USD
- Litecoin / USD
- ASX 200
- CAC 40
- China A50
- Dow 30
- Europe 50
- FTSE 100
- FTSE MIB
- Germany 30
- IBEX 35
- NASDAQ 100
- NIKKEI 225
- Russell 2000
- S&P 500
- SMI (Swiss Market Index)
- TRYBASK / TRY (CFD on TRYBASK, the Turkish Lira index)
- WIG20 (CFD on the WIG20 stock market index of the 20 top companies in Poland)
Customers can trade CFDs on some of the most popular shares from these countries and regions:
- United Kingdom
- Western Asia
- United States
- Other European Countries
5) Precious Metals
- Gold (EUR)
- Gold (GBP)
- Gold (USD)
- Gold Gram / Turkish Lira (GAU / TRY)
6) Energy Products
- Brent Oil
- Crude Oil
- Heating Oil
- Natural Gas
7) Agricultural Products
- US 10Y Note
- US 30Y Bond
- US 5Y Note
- SQQQ (ProShares UltraPro QQQ Short ETF CFD)
- TQQQ (ProShares UltraPro QQQ Long ETF CFD)
- United States Oil Fund LP (USO)
Fortrade Account Types
Fortrade keeps things simple and only offers one standard trading account to its customers. To open an account, Fortrade requires a minimum initial deposit of €/$/£100 depending on the base currency of your account. However, the broker recommends that traders make an initial minimum deposit of at least of €/$/£500 in order to maximize the benefits of trading with Fortrade.
After signing up for an account, Fortrade directs you to its practice (demo) mode, which provides real-time charts and quotes for hundreds of financial assets. You can use the practice mode to explore all the features, tools and products available inside the live trading platform.
There is no time limit to the practice account. Fortrade deposits an initial notional sum of €10,000 of practice money into your trading account, allowing you to learn and practice online trading in a real trading environment.
Fortrade also offers an option to open an Islamic account. These accounts pay no rollover interest on overnight positions in accordance with Sharia law. Islamic accounts require a minimum balance of $2,000.
Fortrade Spreads and Fees
Fortrade receives its compensation in the form of the market bid/ask spreads on each instrument.
The most liquid forex pairs such as EUR/USD and GBP/USD and USD/JPY have recently had average spreads of 2 pips. USD/CAD, USD/CHF and EUR/CHF have recently had average spreads of 4 pips, but depending on the time of days these have been wider. All of these spreads are not fixed spreads and may vary with factors such as liquidity and volatility.
Average spreads over a recent three-month period were $100 for bitcoin, $6.5 for Dash, $5 for Ethereum and $7 for Litecoin. These are not fixed spreads and may vary with factors such as liquidity and volatility.
Spreads vary by index and depend on factors such as liquidity and volatility. Recent sample average spreads include AUD 5 on AUD 200, £2 on FTSE 100, 2.5 on GER30, 1.5 on NASDAQ 100 and 0.11 on USDX.
Fortrade offers trading on a wide range of stock CFDs. Traders can consult the Fortrade website for details about spreads on stock CFDs.
Spreads vary by commodity and depend on factors such as liquidity and volatility. Recent sample average spreads include 0.75 for corn, wheat and soybeans; 0.07 for Brent Oil; 0.008 for natural gas; $0.04 on crude oil; $0.45 for gold and $0.04 for silver.
Recent average spreads have been 0.07 for US 5Y Note and US 10Y Note and 0.09 for US 30Y Bond.
Recent average spreads have been 0.14 for SQQQ and TQQQ and 0.03 for USO.
Other relevant fee information:
Withdrawal Fees: Any International Telegraphic Transfer (TT) Fees incurred by Fortrade are passed on to the customer. Most International TTs are approximately $40.
Overnight Funding Fees: This overnight Fortrade fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time. Traders can obtain information on overnight funding rates on the website.
Dormancy Fee: If for any consecutive period of 180 days, you do not trade on your Client Account, then Fortrade considers the Client Account to be inactive or dormant. Fortrade charges a monthly administrative fee on dormant accounts of USD $10.00 (or a similar amount in such other currency). Fortrade stops charging this fee if the balance in the client’s account reaches $0.
When you click on the blue Sign up button on the Fortrade website, Fortrade asks you to enter your name, email and a mobile number.
Fortrade then asks you to choose your country of origin from a drop-down menu, the base currency for your account (USD, EUR or GBP) and a password for the account. You’ll also need to fill in your date of birth and physical address.
On the next screen, Fortrade asks you a few questions about your financial and employment situation and your trading goals. The whole sign-up process only takes a few minutes.
To pass their identity verification, you will need to upload one document for proof of identity and one for proof of address. You can fax, email or upload these documents to Fortrade.
|Proof of Identity||
|Proof of Address||
Traders can deposit and withdraw funds with Fortrade using one of several different methods:
- Credit Card
- Wire Transfer
Credit card, Neteller, Skrill and Bitcoin deposits are generally instant and incur no fees, while wire transfers have the following stipulations:
- The minimum threshold for wire transfer is 250 (£/$/€)
- Wire transfers incur a transaction fee of up to 40 (£/$/€). The fee is dependent on your bank and how you choose to pay the fees.
- Wire transfers take up to 5 business days for funds to be credited to Fortrade’s banking account.
Fortrade requires a minimum deposit of £100, but the broker suggests customers deposit at least £500.
To ensure you can cover any losses you might incur on your positions, Fortrade requires sufficient collateral or margin. The margin available in your account will limit the size of the positions you can open.
Fortrade requires a specific margin to be available in your account for each trade that you execute.
You can see Fortrade’s Margin Rates list under the “trading conditions” section of their website.
Traders who fall below the Fortrade margin requirements risk receiving a margin call and having their position closed prematurely.
Withdrawals and Withdrawal Times
To withdraw funds from your Fortrade account, you log in to the trading platform with your Fortrade credentials and go to “Deposits/Withdrawals” located inside the drop-down menu in the right corner of your screen.
You then select the preferred withdrawal method and enter the amount and any other account information that may be required. Fortrade processes all requests within two business days after they are submitted.
Best Binary Options Broker 2020!
Good Choice for Beginners!
Free Trading Education, Free Demo Account!
Get a Sign-Up Bonus Now!
2nd in our ranking!
Fortrade has a strict policy that funds can only be returned to the source in which the deposit was made. Sums in excess of the original deposit may be withdrawn by providing an alternative withdrawal method (for example bank wire transfer, Skrill or Neteller). In order to wire money to your bank account, Fortrade needs a bank statement from your account dated in the past three months. This statement must clearly show:
- Your Full Name
- Your Full Address
- Your Full Bank details (Bank/Sort code and Account Number)
Withdrawals made by Bank Wire Transfer usually take up to 5 business days to reach your account.
Withdrawals to credit/debit cards can sometimes take up to 15 business days to reach your account.
Fortrade Platform Review
The Fortrade proprietary software has three types of platforms from which to choose: Desktop Fortrader, Web Fortrader and Mobile Fortrader.
When you open the web-based Fortrader platform, the system opens with a tutorial on how to begin using its tools and functionality. The system also defaults you to the practice mode. Both of these are nice touches since many other platforms simply place you in live mode with no instructions on how to trade using their software.
The main trading screen of the Fortrader platform has a clean and simple layout:
The platform has a very generic feel to it, which isn’t necessarily a bad thing. It simply depends on what you’re looking for. Beginner traders are likely to appreciate the way all of the instruments are sorted by category on the left side of the screen. The ticket similarly doesn’t have a lot of bells and whistles, but the basics to execute an order.
The charting features of the Fortrader platform have fewer drawing tools and technical indicators than some of the most advanced charting packages found at bigger firms such as TradeStation or Interactive Brokers. However, Fortrade encompasses some advanced “hand-holding” tools that some of the bigger firms often overlook. For example, there is the link to Trading Central, which provides actionable real-time trading advice.
It seems that novice traders could take advantage of this link to Trading Central and use these tools to become more familiar with trading patterns.
Below the charting section is a basic position management section with open and closed trades. We wished there was more functionality and search incorporated in this section to facilitate trade management for more active traders.
Overall, the Fortrader software is adequate if not a little bit on the basic side. While beginning traders will appreciate its ease of use and simplicity, more active and advanced traders may opt for the MetaTrader 4 (MT4) software as an alternative. Fortunately, Fortrade supports this option, which gives traders of all levels a reason to be happy.
Fortrade Demo Account
After you sign up for a Fortrade account, the broker directs you to the practice or demo account. Traders receive €10,000 in virtual funds in this account and can practice on it for as long as they wish.
To switch from Practice trading mode to Real trading mode, simply click on the “Switch to Real” button located both in the top right corner of your screen and inside your account drop-down menu. At this point, if you have not yet fully registered your account, you will then be prompted to do so in order to start trading with real money.
The demo accounts look like the live accounts and traders get the same functionality.
Fortrade Education Resources
Fortrade has several resources on the Education tab on its website. This section is broken down into four sections: Our Trading Academy, Highlights, Market Analysis and FX & CFD Trading Tools.
Our Trading Academy
Forex and CFD eBooks: These books explore the vocabulary used by both novice and professional traders.
Beginner Trading Courses: Video courses covering novice topics such as basic forex terms, winning trading tactics and order types among others.
Advanced Trading Courses: Video courses covering more advanced topics relating to commodities, futures, CFDs and stocks.
Trading Videos: Videos ranging from a few minutes in length to almost an hour that cover everything from technical analysis to capital management to trading psychology.
Top Day Trading Strategies: Strategies geared toward short-term focused traders.
Forex Trading Webinars: Free webinars covering a variety of trading topics.
Guardian Angel: A new Fortrade tool, the Guardian Angel is an automated professional system which allows you to receive notification messages while trading. The messaging tool delivers real-time trading feedback in accordance with the user’s personal preferences and investment goals.
Trading Central and Trading Central Analysis: Real-time comprehensive research.
This section contains real-time fundamental and technical analysis of markets. There is also an economic calendar and a historical overview of markets.
FX and CFD Trading Tools
This section contains quantitative tools traders may use to manage their trading: currency converter tool, pip value calculator, swap rates calculator and margin percentage calculator.
While the Fortrade education section is fully loaded with an endless amount of resources, many of these came across as stock and generic to us. As with many trading sites, unfortunately, there seems to be a greater emphasis on quantity than quality.
Fortrade Sign-Up Bonuses and Promotions
Fortrade offers two types of bonuses to traders: a Balance Bonus and a Credit Bonus.
Balance Bonus – This is the standard bonus Fortrade grants you when you make a deposit to your account. This bonus is entirely at Fortrade’s discretion.
Credit Bonus – This is an alternative bonus with additional Terms and Conditions. It is also entirely at Fortrade’s discretion.
Fortrade grants Balance Bonuses to accounts only after new customers complete the full document verification process. Traders cannot withdraw Balance Bonuses until they reach their target volume, which is set according to the bonus amount given.
The client has to fill a trading requirement of 0.1 lot for every 1 USD/GBP/EUR bonus given in order to reach their target volume. For example, if a client received a 100 USD/GBP/EUR Balance Bonus, he will have to trade 10 lots before his Balance Bonus is converted to balance and becomes a part of his capital. Traders can consult the Fortrade website for additional details about this bonus.
Customers have to reach their target volume before they can lose or withdraw their Credit Bonus. The target volume is set according to the bonus amount given.
If a client fails to reach their target volume, Fortrade removes the credit bonus automatically when their equity falls below the credit bonus amount. Essentially, this stops you out and your open positions get closed accordingly.
If a customer fulfills the required amount of 0.10 lots for every EUR/ USD/GBP of cash credit bonus, the bonus automatically become a part of capital and can be withdrawn or used for trading.
A customer can reactivate a Credit Bonus if they re-deposit at least 30% of its value.
Customers should consult the Fortrade website for more details about how both of these bonuses work.
Please note: As of January 2020, brokers that are regulated within the EU are unable to offer sign-up bonuses to customers. This is due to the MiFID legislation mentioned previously which aims to create more transparency and protection for traders.
41 • Average
Write a review
Write a review
Great support, Trusted Broker
Was a very quick and easy process to opening up my account. Dylan Royal explained the current market environment which allowed me to understand exactly what was currently going on and how i could profit (which I have done) Continued support through out thank you.
Thank You Sahil,
Thank You Sahil,
For your superb customer service. excellent, prompt and very helpful.
The craziest decision I took was to…
The craziest decision I took was to trade here even when my wife told me not to.are you after the profit I made from my business a total of $72000.I was told by my broker that have made a profit of $166000. I told him to make a withdrawal for me you never responded I tried logging in to make the withdrawal on myself but I was denied access. I was so frustrated cause that was actually the savings from my business I just I wanted to make more profit and expand my business but now I’m having a great loss I was lamenting to everyone that I saw on the street telling them I have been scammed my business partners most of them laughed and walked away. But a friend gave me the contact of Mrs Gabriella and told me that she is very reliable I should just trust her and follow her steps gradually. I contacted her and followed her every step as she instructed and before the end of last year to my greatest surprised
To anyone who reads this so-called “review” – please note that this message is actually an advertisement for some funds recovery service, and has nothing to do with Fortrade Online Trading.
Fortrade is an FCA-regulated broker, and as such, we know that there is no such thing as “guaranteed profits” in any form of online trading. Please be very wary of contacting the person mentioned in this spam ad.
My experience with their support is very good. My account manager always get back within hour and give good explanation etc.
I think this broker has a solid…
I think this broker has a solid organization behind them, they’ve proven to be very smart, honest, and efficient.
I do recommend this broker
I do recommend this broker, it is reliable broker with vast range of instruments. I had account with them and I can recommend it. Support is absolutely amazing!
I started trading 5 years ago and…
I started trading 5 years ago and changed more than 10 brokers so far. Fortrade is the one that kept me as a client for 2 years now, good job!
I’ve been trading with this broker for…
I’ve been trading with this broker for some time now, didn’t have a smallest problem so far. 5 stars from me
Sometimes they call me too often, especially during important market events, but when a quick reaction means more money, I cannot say stop it
Thank you sahil khan for quick response…
Thank you sahil khan for quick response and understanding. Im new in this so he trying to help me through. Hope best for him. Thanks alot.
I just withdrew some money 3 days…
I just withdrew some money 3 days back,,but I have not yet even received a confirmation email,,The So called support team and the account manager doesn’t reply my emails nowadays after they kept pushing me a year back to deposit
Good website and market layout on the website. Made £800 as a beginner on my test account, has options to prevent and cap money loss/gain. Great customer service very patient and helpful,I personally had Dylan Royale Help me with setting up my account. He gave me insight on the oil market, helped me get a senior account manager.
The response speed and efficiency of…
The response speed and efficiency of their customer service is amazing.
6 Stars for FORTRADE
Excellent platform, love the fact that they are FCA regulated, have fixed spreads and don’t charge you to put money in or take money out. Started with £250 and due to NFP, gold and USD I am now on £558. Sahil Khan was very friendly and helped me through my journey as a beginner in trading. Definitely recommend!
I have been trading for more than 2…
I have been trading for more than 2 years and I have bad feeling about profesionality of Fortrade according to my personal experiencies. They are using similar psychollogical tricks like scammers, but hidden behind regulation. You can´t loose more than you deposited and you can withdraw money (if some left). Money come in few days.
In theory, they should offer you good analysis to earn money and stay with them. But you need to be aware, that people are willing to take higher risk to prevent losses than risk to gain something. This is obviously also their strategy.
I lost 35 000E. I will summarize why:
– I have been pushed to deposit more and more money, 90% of calls and emails were about how much I can deposit – it was Fortrade, no scammers outside of company
– I got analysis for 100k deposit and other not appropiate analysis to my actual high deposit
– first few analyses were correct and then mostly opposite as market went
– I got caught with wrong analyses and pushed to deposit more money and buy a dip over and over again
– if I asked for some help or financial inside, it was told to me that I should wait and deposit more money to support margin . in the end it meant that commisions were so high that shares in 2 years never reached value to cover my minus.
– if analysis in some point was good, they were always pointing there and saying, you could earn so much but you didnt deposit more, but when analysis were wrong I never heard from them, so they want to create idea that analyses were right what is of course manipulation
– after i deposited money and things were wrong it was much harder to get in contact (but when I was willing to deposit, it was no problem to have call 3x per day and also get emails)
– after I lost 25 000 i had 3000 left and i said ok, I lost it, thats it. and then they came with possibility of reactivation, now is opportunity to have it back and market si changing so I deposited last time 8500 and I asked before reactivation if I should really reactivate because market was moving other way as was told to me, what do you think they say? . I lost 9000 in just two weeks. highlight was: on yahoo finance is average price target diffent in comparing to what happened.
– I asked if I should take rest of my money to just have something, you know for sure the answer. If I did like was adviced to me I have nothing. but I withdrawed some of money, rest was lost, because i waited a bit.
– before me withdrawal I asked about my situation if there is something to do, it was promised to me that i will get email, he has ideas and will ask also colleagues. never got one. after 2 weeks he just told me I wont get any, but Im on high priority list for him. you can guess where I really was.
– I asked for opinion of his colleagues about what happned. he will answer me one day, but now he is to busy (obviously high priority has many stages). I should be patient, so I´m.
70-80% of investors are loosing their money and there are many reasons why. be careful.
So scheme is: pay as much as you can and then bye, we have new investors and you aren´t important anymore for us. this is similar what scammers do and not professionals in my personal opinion.
I tried to make it short, but I have many stories.
(((I have one question for someone who want to invest: will you use services of tourist guide to gain possible nice experiences, if probability that you will die is 70-80%? You were warned. if you die it is your fault, not their..they acted according to the law, because they warned you. )))
WoW! You have given a very detailed report of your experiences, and obviously it was not pleasant for us to read. We would like to respond as much as we can to what you wrote.
First, you wrote that “You can´t lose more than you deposited” – but you make it sound as if that’s either a bad thing, or unusual. We cannot think of any brokerages who would allow you to lose more money than you have – that is simply not how brokerages (or ANY financial institutions) work. And – most of all – this is as much for YOUR protection as it is for ours! We don’t want clients falling into debt that they will struggle to get out of!
You mentioned analysis – we do offer daily and weekly analysis on our site, as well as analysis videos on our YouTube channel. But it is very important that you understand the nature of financial analysis. Analysis does NOT magically predict the future. It looks at market trends, and other factors, and predicts what the markets will do. Often these analyses are correct (as you did mention), and often they are not, because markets will often take unexpected turns – possibly in response to geopolitical events, possibly in response to what other markets have done, possibly even because of the weather! The best analysis in the world can never guarantee accuracy, and Fortrade does not claim otherwise.
In terms of the money that you lost – obviously this is unfortunate, and not what we enjoy hearing from our clients. You seem absolutely certain that it was an actual Fortrade rep that called you, and not a scammer (unfortunately, we have discovered that MANY people pretending to represent our company contact clients in our name. Those situations never end well).
However, even if we assume (or accept) that it was an actual Fortrade rep, you make it sound as though you had no choice in how much money you deposited, or how often to deposited more. We both know that that it is not entirely accurate – nobody FORCED you to deposit high amounts, and nobody FORCED you to invest so much on any individual trade. At any time you had the ability and the power to say “No – I will only deposit “THIS” amount – not what you are trying to get me to deposit,” and “No, I will invest “THIS” amount on the position, not more like you want me to.”
By the way – one indication that the “representative” that spoke to you was a fake is that our company policy never to advice what positions to open or close. It sounds a lot like this person was doing exactly that.
At any time – if you felt that your rep was not responding to you, not doing what he was supposed to be doing, or whatever, you had the ability to contact our support team by email or by phone (all of the contact details are on the Fortrade website). Surely if you felt that he was not being straight with you, it would have been better to contact us than to deposit even MORE money, don’t you agree?
Finally, you write that there are “many reasons” why 70-80% of investors are losing their money. Of course there are reasons. All serious online brokers that we know will show similar stats for the percentage of traders who lose money. That’s because pretty much any type of investment is risky, and we wouldn’t want people jumping into this thinking that there are any guarantees. There are not – and the more people are aware of that, the more cautiously they can invest their hard earned money!
Fortrade Review: Scam or Legit – Read Before Trading Review
Fortrade is another one of the most popular brokerage firms available for automated trading online. It claims that it was started to provide a hassle-free trading environment for experienced as well as new traders.
If you are an experienced trader, then you must know that whenever you trade online, you have to register yourself first. After registration, you are matched with the broker that lies in your region based on your country of residence. This broker places the deals which come out to be profitable and help you in creating more money from the initial capital that you deposited.
If you are in the trading business, then you must have also heard about the frauds that take place here frequently. We want to tell you that all these frauds are played by brokers who pretend that they are regulated. Indeed they are not regulated, and because you have not researched well, you lose the money that you transferred in their accounts in the form of the initial capital.
Brokers that do not work under strict conditions and are not affiliated with known organisations tend to make millions of dollars only by stealing innocent traders money. If you save a lot of money for automated online trading and someone takes it away without any profit creation, then it would be a huge mishap. This is why a reliable and trustworthy broker is very significant.
Fortrade has clients across the globe except for some selected ones. Fortrade operates on 15 different languages that make it accept the diversification bringing a lot of customers to use it.
Fortrade is based in the UK and is one amongst the derivatives brokerage firm that provides all of its customers with a brilliant platform for Contracts for Difference and trading forex. CFDs enables all its traders to venture on the price of the asset with absolutely no ownership of the accounts in it.
Now that you know the significance of a reliable broker, let’s move on to the broker that we are going to discuss in this article. We are assuming that you looked for Fortrade, which is also one of the most popular brokers available. We have created a comprehensive fortrade review for you to follow so that you do not face any problems while investing at this brokerage firm. So make sure you give this whole article a careful read!
Are you ready to learn more about Fortrade? If yes scroll over!
Table of Contents
What is Fortrade?
Fortrade is a brokerage firm that was established in 2020. With a relatively recent establishment, this brokerage firm has become a hugely popular option for people who trade in forex as well as for cryptocurrencies. This CFD broker claims that its mission is to provide the globally-based clients with a user-friendly trading environment, which is suitable for both advanced and learning traders.
Now that the automated cryptocurrency, also stock trading platforms, has gained so much of importance reliable and trustworthy brokers are hard to find. But this particular brokerage firm has proved its self by providing all the services that it claims to its users. It also strives to operate all its functions by providing transparent services. Moreover, it trades in a diversity of assets.
Fortrade particularly stresses on the user-friendliness of the technology. It tries to offer a scalable platform and has more regulations imposed by the top international regulatory bodies that go by the name of the Financial Conduct Authority. It has the majority of strength. Traders always look forward to a potent broker that regulates across seas in the European Union. It also offers access to the CFDs residing across several significant assets of the classes that are willing to investigate more offerings at Fortrade. You should remember that trading CFDs revelations traders that have a lot possibility of losses. Other than that, Fortrade does not allow its users to lose that gets more than invested in Fortrade account, CFD is solely for experienced traders.
But there is a difference between this software and the rest of the available brokerage firms. Once you navigate to the official website of Fortrade, you will be finding a lot of information that might look a little intimidating. But that is only because this software focuses on market analysis as well and as such a whole lot of data can be found on the homepage.
Is Fortrade a scam?
This is one of the most deciding questions of why readers navigate to review websites. But at a lot of different sites, you will find biased opinions. This is because some competitive brokers might have put wrong reviews about this software. But in this case, we are going to provide you with an unbiased opinion based on real-time testing as well as individual user reviews.
You will be exultant to know that this brokerage firm is undoubtedly not a scam, and it is 100% legitimate broker to place your automated trading deals through. It is very well regulated and operates under strict conditions. As such, your money is safe with them. And you do not need to worry about consistent losses that people usually face in case their brokers are not legitimate
Fortrade also offers its customers CFD trading that crosses over 300 instruments that are solely grouped in nine categories, namely: precious metals, index CFDs, energy products, US Treasuries, forex, ETFs, stock CFDs, cryptocurrencies, agricultural products.
We tend to believe that Fortrade is exceptionally trustworthy as it is registered with the topmost leading international regulatory bodies. The Financial Conduct Authority (FCA) regulates the firm in the UK. The markets in Financial Directive enables the company to operate as a regulated element all over the European Union. The clients of Fortrade take a lot of comfort in the fact and figure that each broker has a financial statement that needs auditing. This auditing is done by Fisher Sassoon and Marks, which is one of the most prominent financial services that have accounting firms.
Fortrade offers a variety of a said that you could trade. Moreover, there are a lot of great features and tools that we will be observing in this article as well. Thus we can confirm that this platform will certainly won’t produce because it is a legitimate one. It can be compared to one of the best software is available for automated trading. Don’t forget to read the entire article for a good quality discussion.
Is Fortrade well regulated?
You should make sure that whenever you sign up for an automated trading platform to look forward and research a lot about the broker that you are matched with. The most important question that comes with a broker is that of its regulations. Regulations are an essential aspect as it makes the brokerage firm to work under strict conditions and make sure that everything happens in the interests of the client.
We are delighted to tell you that this brokerage firm is very well regulated and as such your money is safe with them. It complies with United Kingdom’s Financial Conduct Authority, Australian Securities and Investment Commission as well as the National Bank of the Republic of Belarus. All these authorities provide certainly conditions under which the firm has to work.
Also, Fortrade traders are given a choice to choose between the brokers proprietary platform and amongst the most popular platform named as MetaTrader4 (MT4). Both are usually available through a desktop, mobile interface and web-based. Traders are made available 300 financial assets and are given leverage going up to 1 to 200 on forex pairs and 1 to 50 on the commodity and index CFDs.
The most crucial aspect of regulations on a particular broker is that the money that you transfer or deposit is kept in a segregated account. As such, the firm cannot use it for its purposes or for stealing away any amount. In such a case, you will be focusing on creating a profit and placing a deal which offers the best win rate for the user. We can conclude that a reliable broker makes every automated platform safe.
This platform gives its client a wide variety of assets that are traded. It provides it users currencies, stocks, energy products, agricultural products and precious metals and treasuries etc. But there exists a significant let down that comes in the trade of cryptocurrencies. The cannabis stock is also becoming quite famous as a commodity trader, and the option is also not available at Fortrade.
The other crucial feature related to the brokerage firm that is trending as a free trading option. The mobile app is easily installed and downloaded from the Apple App Store or Google Play Store. Hence it is a lot easier to trade, and you do not have to handle the burden of carrying a laptop almost regularly. You can do the same with the mobile phone. This software is accessible from iPad and other tablets as well.
This software gives the highest priority. This is because it emits a lot of knowledge material so that you can read it from here no matter whatever kind of trader you are. Here you also get full availability of different trading sort of things including guides for trading, trading webinars, trading courses and even eBooks etc. If you are fresh to this app, then you can surely look after checking all of these options thoroughly.
Fortrade Account types:
you will be delighted to know that there are no separate account types on this particular platform. You only have to create one account, and as such, there are no special privileges for people who deposit more or less money as such. This creates equality and amongst experienced as well as newcomers in terms of the services that are provided.
There exists a lot of software that have minimum deposit requirements. The minimum deposit is as high as a thousand dollars. It is not beneficial for a newcomer to invest, but there is a benefit for them. In this platform, the minimum deposit is quite less, that is up to $100. It is recommended to invest Minimum amount of deposit firstly and analyse it yourself first. Unlike other platforms that have an ideal amount of $500.
Deposits and withdrawals:
in terms of withdrawals, this platform is a letdown. It was observed that the withdrawal amount was processed in two weeks even though the capital was paid via a credit card. Although it was mentioned at the website that five days would be taken for the withdrawal to be processed two weeks is a very long time.
It is another crucial feature of any brokerage firm. Registration to this platform takes place amazingly fast and hassle-free, although you do not need to identify documents and verify yourself.
All the genuine brokers, including all the electronic cryptocurrency trading platforms, give us an option for all its users to trade online. This is a seamless experience. This option lessens the number of unnecessary losses that any customer faces. Even though they do not know how to trade prior. On all the platforms investing zero money is applicable on this app Fortrade.
We want you to have a hassle-free experience, and even after viewing this article, you have any queries. You do not have to worry at all. It has an excellent customer care service that is available on this platform. Whenever you feel any trouble, you can submit a form regarding your questions, comments and concerns to the specific staff. This can be done via phone, email or messaging and even by live chat. Isn’t that cool?
How Do I register myself on Fortrade?
Because this platform is regulated by financial conduct authority, every new individual has to provide some identity documents to verify themselves. You will be asked for a colour copy of your passport or any other ID as well as a utility bill or bank statement. You will also be asked to answer a few compliant questions. This should not bother you because it only enhances safety
To successfully register yourself at this platform, navigate to its official website first. Then look for the registration option and enter your details carefully. You will be required to enter the suitable account type, your country of residence, your email address as well as a strong password. Also, keep all the documents mentioned above handy to fasten the process of registration.
How do I begin trading with Fortrade?
If you are accessing this brokerage firm through a trading platform, then you do not need to register separately on this brokerage firm. But if you want to trade individually, then you will have to do so by depositing some initial capital. Do not worry as this process is very safe, and a variety of payment methods are available. The ways that you can use our debit cards, Neteller, Bank Transfer, Skrill, etc.
You will be happy to know that if you have any profits in your account. Then you can make a withdrawal whose request can be processed in about two weeks. This is not a great feature because not a lot of brokerage firms provide such an extended amount of time while processing withdrawals. It can take as long as 1 to 2 days at other platforms, which is an enjoyable time.
Trading is super simple at this platform. You can opt for a free account at the demo mode option. In the demo mode, you will be awarding yourself of all the possibilities that will occur at live trading. After that is done, you might switch onto the MT4 platform. This trader platform can be accessed through whichever device you are comfortable with including your mobile as well.
Pros / Cons
- It is a well-delimited, brokerage firm.
- The withdrawals and payouts are handled very carefully.
- It is unquestionably not a fraud.
- It is one of the most productive brokerage firms.
- One can trade over many options here.
- It doesn’t deal with cryptocurrency as well as Cannabis.
- It only has one account option.
- Withdrawals take a long time to process.
There are a lot of features that reside in this software. It offers you a seamless experience that makes you undoubtedly go for it. There are ample of ways and features which makes this app user-friendly to use for anyone who makes an account on this platform. It has embedded excellent choice for people that are looking for an automated trading platform. Also, it has assets like stocks, indices, currencies and commodities that can be traded.
Hence, we still have firm support for the fact that all the new users should stick to the minimum amount that is possible for making deposits. This tends to keep them safe from all the irrelevant losses that one can face if any trade goes wrong. If you’ve any questions regarding our fortrade review, comment below.
✅ Is Fortrade a scam?
No, it is a hundred per cent legitimate.
✅ When are withdrawals processed on Fortrade?
It takes two weeks to process your withdrawals.
✅ Is registration a stressful affair at Fortrade?
No, it is effortless.
✅ Do you really get a Free €10,000 practice account?
Best Binary Options Broker 2020!
Good Choice for Beginners!
Free Trading Education, Free Demo Account!
Get a Sign-Up Bonus Now!
2nd in our ranking!