Fortrade Broker Review

Is Fortrade a scam?

Fortrade is a trading name of Fortrade Limited, which is a company registered in the UK and is authorized and regulated by the Financial Conduct Authority (FCA). The FCA is one of the most respected regulatory bodies in the financial industry and is responsible for overseeing financial firms to ensure they operate in a fair and transparent manner.

As a regulated broker, Fortrade is required to follow strict rules and guidelines to ensure the safety of its clients’ funds. For example, client funds are held in segregated accounts, which means they are kept separate from the broker’s own funds. In the event that Fortrade were to experience financial difficulties, client funds would be protected and not used to cover the broker’s obligations.

Fortrade also uses advanced security measures to protect client data and transactions. The platform uses 128-bit SSL encryption to ensure that all data transferred between the client’s device and the server is secure and cannot be intercepted by unauthorized third parties.

Overall, Fortrade’s regulation by the FCA and the measures it takes to protect client funds and data make it a safe and reliable broker for forex traders. However, it is always important to carefully review a broker’s terms and conditions and risk disclosures before opening an account, and to understand the risks involved in forex trading.

Best Forex Brokers Ranking

Rank	Broker	Open Account	Bonus	Platform	Minimum Deposit	ECN
1	Exness	Open Exness account	16$/lot	MT4, MT5, Exness, ...	1$	10$
2	IC Markets	Open IC Markets account	-	MT4, MT5, cTrader	200$	200$
3	XM	Open XM account	30$	MT4, MT5	5$	-
4	XTB	Open XTB account	2000$	MT4, xStation 5	1$	1$
5	FBS	Open FBS account	140$	MT4, MT5, FBS Trader	1$	1000$

Fortrade Trading Platforms

Fortrade offers traders access to several trading platforms, including a proprietary web-based platform and the popular MetaTrader 4 (MT4) platform. Both platforms offer advanced charting tools, technical indicators, and a wide range of trading instruments.

The Fortrade web-based platform is designed to be easy to use and offers a user-friendly interface. It can be accessed from any web browser, and no software download is required. The platform also includes a range of educational resources, including trading tutorials and a comprehensive FAQ section.

The MetaTrader 4 (MT4) platform is widely used by forex traders and is known for its advanced charting capabilities and customizable interface. The platform includes a range of technical indicators, charting tools, and automated trading features, such as Expert Advisors (EAs).

Both platforms allow traders to access a wide range of trading instruments, including forex, commodities, indices, and stocks. Traders can also use the platforms to place orders, manage their positions, and view real-time market data.

Overall, Fortrade’s trading platforms offer a range of advanced features and tools for traders of all levels. The availability of both the proprietary web-based platform and the popular MT4 platform gives traders flexibility and choice when it comes to their trading preferences.

Products Fortrade provides

Fortrade provides traders with access to a range of financial instruments, including:

Forex: The forex market is the largest financial market in the world and allows traders to trade currency pairs, such as EUR/USD, GBP/USD, and USD/JPY.
Commodities: Traders can trade commodities such as gold, silver, crude oil, and other metals and energies.
Indices: Fortrade offers trading in a wide range of global stock indices, such as the FTSE 100, S&P 500, and NASDAQ.
Shares: Traders can also trade shares of some of the world’s largest companies, including Apple, Amazon, and Facebook.
Cryptocurrencies: Fortrade provides traders access to cryptocurrency trading, including Bitcoin, Ethereum, and Litecoin.

Fortrade’s range of trading instruments allows traders to diversify their trading strategies and take advantage of different market conditions. The availability of a wide range of financial instruments also means that traders can find trading opportunities across different markets and asset classes. However, it is important to remember that trading in these financial instruments carries risks and should be approached with caution.

Fortrade account types

Fortrade offers three main types of trading accounts, each with different features and requirements:

Standard Account: This is Fortrade’s basic trading account, suitable for new traders or those with less experience. It requires a minimum deposit of $100 and offers fixed spreads on forex trading. Standard account holders also have access to Fortrade’s proprietary trading platform and a range of educational resources.
Premium Account: The Premium account is designed for more experienced traders and requires a minimum deposit of $2,500. It offers lower spreads on forex trading than the Standard account, as well as access to a dedicated account manager and a range of additional trading tools and resources.
VIP Account: The VIP account is Fortrade’s top-tier account, designed for high-volume traders. It requires a minimum deposit of $10,000 and offers the lowest spreads on forex trading, as well as a range of premium features such as a personal account manager, daily market analysis, and free VPS hosting.

In addition to the above account types, Fortrade also offers a demo account that traders can use to practice trading with virtual funds before trading with real money. The demo account offers access to all the features of the trading platform and can be used for an unlimited period of time.

Overall, Fortrade’s range of account types offers traders flexibility and choice when it comes to selecting a trading account that best suits their needs and experience level.

Fortrade trading fees

Fortrade charges trading fees in the form of spreads and overnight financing charges.

Spreads: Fortrade offers both fixed and variable spreads on forex trading. The fixed spreads start from 2 pips on major currency pairs, while the variable spreads start from 0.7 pips. The spreads on other financial instruments, such as commodities, indices, and shares, vary depending on the specific asset being traded.
Overnight Financing Charges: Fortrade charges overnight financing fees on positions that are held overnight. These fees are based on the interbank interest rate of the currency being traded, and the size of the position. Long positions are charged a financing fee, while short positions receive financing credits.

Fortrade does not charge any commission on trades, which means that the trading fees are solely based on the spreads and overnight financing charges. Traders should be aware that these fees can vary depending on market conditions and may affect trading profitability.

It’s also worth noting that Fortrade may charge additional fees for certain services, such as withdrawals or inactivity on trading accounts. Therefore, traders should carefully review the fees and charges associated with their trading account and seek clarification from Fortrade customer support if necessary.

Fortrade Funding and Withdrawal Options

Fortrade offers a range of funding and withdrawal options for traders, including:

Deposit Options: Traders can fund their accounts using a range of payment methods, including credit/debit cards, bank wire transfer, and e-wallets such as Skrill and Neteller. Deposits are generally processed within 24 hours, although bank wire transfers may take longer to process.
Withdrawal Options: Traders can withdraw funds from their Fortrade trading accounts using the same payment methods used for deposits. Withdrawals are processed within 24 hours, although bank wire transfers may take longer to process. Fortrade may require additional verification documents before processing withdrawals to ensure the security of the trader’s account.
Fees and Processing Time: Fortrade does not charge any fees for deposits or withdrawals, although third-party payment processors may charge their own fees. The processing time for withdrawals can vary depending on the payment method used, with e-wallet withdrawals typically processed within 24 hours, while bank wire transfers may take several business days.

It’s important to note that traders must use the same payment method for withdrawals as the one used for deposits. In addition, traders must have completed the necessary verification procedures before being able to make withdrawals. This is to comply with anti-money laundering regulations and to ensure the security of the trader’s account.

Overall, Fortrade offers a range of convenient and secure funding and withdrawal options for traders, with fast processing times and no fees charged by Fortrade.

Fortrade’ promotions

Fortrade offers various promotions and bonuses from time to time for new and existing traders. These promotions may include:

Welcome Bonus: Fortrade may offer a welcome bonus to new traders who open a trading account and make an initial deposit. The bonus amount varies depending on the promotion and may be subject to certain terms and conditions.
Deposit Bonus: Fortrade may also offer deposit bonuses to existing traders who make additional deposits into their trading accounts. These bonuses may be a percentage of the deposit amount or a fixed amount.
Refer a Friend Bonus: Fortrade may offer a referral bonus to traders who refer friends or family members to open a trading account with Fortrade.

It’s important to note that these promotions and bonuses are subject to terms and conditions, which may include trading volume requirements or time limits. Traders should carefully review the terms and conditions associated with any promotions or bonuses offered by Fortrade before participating.

In addition to these promotions, Fortrade also offers a loyalty program that rewards traders based on their trading volume and activity. Traders can earn points that can be redeemed for cash or other rewards, such as free VPS hosting or educational resources.

Overall, Fortrade’s promotions and bonuses can provide traders with additional incentives and benefits, although it’s important to ensure that traders understand the terms and conditions associated with these offers before participating.

Fortrade customer support

Fortrade offers customer support services to traders through various channels, including:

Live Chat: Fortrade provides a live chat service on their website, which allows traders to connect with a customer support representative in real-time. The live chat service is available 24/5 during market hours.
Email Support: Traders can also contact Fortrade’s customer support team via email. The company aims to respond to all email queries within 24 hours.
Phone Support: Fortrade provides phone support to traders in multiple languages. The phone support service is available 24/5 during market hours.
FAQ Section: Fortrade has an extensive FAQ section on their website, which provides answers to common questions about trading, accounts, and other services.

In addition to these support channels, Fortrade also provides educational resources and materials to help traders improve their trading skills and knowledge. These resources include webinars, eBooks, trading guides, and market analysis reports.

Overall, Fortrade’s customer support services are comprehensive and accessible, with multiple channels available to connect with a customer support representative. The company also provides educational resources to help traders improve their trading skills and stay up-to-date with market trends and news.

Fortrade Educational Resources

Fortrade provides a range of educational resources and materials to help traders improve their trading skills and knowledge, including:

Webinars: Fortrade regularly hosts webinars on a variety of topics related to trading, including market analysis, trading strategies, and risk management.
eBooks: Fortrade offers a range of eBooks on various trading topics, including forex trading, technical analysis, and trading psychology.
Trading Guides: Fortrade provides comprehensive trading guides that cover various aspects of trading, including forex trading, commodities trading, and stock trading.
Market Analysis: Fortrade publishes daily market analysis reports that provide insights into market trends, news, and events that may impact trading.
Trading Academy: Fortrade’s Trading Academy is an online learning platform that provides educational resources and materials on trading. The platform includes video tutorials, interactive courses, and quizzes to help traders improve their knowledge and skills.

Overall, Fortrade’s educational resources are comprehensive and cover a range of trading topics. Traders can access these resources through Fortrade’s website and trading platform, and they are designed to help traders of all levels improve their trading skills and knowledge.

Pros and cons of Fortrade

Pros:

Regulation: Fortrade is regulated by reputable financial authorities, such as the FCA and ASIC, which provides traders with a level of safety and security.
Trading Platforms: Fortrade offers multiple trading platforms, including its proprietary platform, MetaTrader 4, and WebTrader, which are all easy to use and provide a range of trading tools and features.
Educational Resources: Fortrade provides a range of educational resources and materials, including webinars, eBooks, trading guides, and market analysis reports, which can be helpful for traders to improve their trading skills and knowledge.
Demo Account: Fortrade offers a free demo account, which allows traders to practice trading without risking real money.
Customer Support: Fortrade provides customer support through multiple channels, including live chat, email, and phone, which are all accessible 24/5 during market hours.

Cons:

Limited Product Offering: Fortrade’s product offering is limited to forex and CFDs, which may not be suitable for traders looking to trade other markets, such as stocks or futures.
No Cryptocurrency Trading: Fortrade does not offer cryptocurrency trading, which may be a drawback for traders interested in trading cryptocurrencies.
Limited Payment Options: Fortrade’s payment options are limited compared to some other brokers, which may not be ideal for traders who prefer a wider range of payment methods.
Inactivity Fee: Fortrade charges an inactivity fee of $5 per month for accounts that are inactive for more than 180 days, which may be a drawback for traders who are not active in the markets regularly.

Overall, Fortrade is a reputable forex and CFD broker that provides traders with multiple trading platforms, educational resources, and customer support services. However, its limited product offering and payment options may be a drawback for some traders.

Frequently asked questions about Fortrade

Is Fortrade a regulated broker?

Yes, Fortrade is a regulated broker. It is authorized and regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia.

What trading platforms does Fortrade offer?

Fortrade offers multiple trading platforms, including its proprietary Fortrader platform, MetaTrader 4 (MT4), and WebTrader.

What products can I trade with Fortrade?

Fortrade offers forex and CFDs on a range of assets, including currencies, commodities, indices, and stocks.

Does Fortrade offer a demo account?

Yes, Fortrade offers a free demo account, which allows traders to practice trading without risking real money.

What are the deposit and withdrawal options available with Fortrade?

Fortrade offers several deposit and withdrawal options, including bank transfer, credit/debit cards, Skrill, Neteller, and PayPal.

Does Fortrade offer educational resources?

Yes, Fortrade provides a range of educational resources and materials, including webinars, eBooks, trading guides, and market analysis reports.

What is the minimum deposit requirement for Fortrade?

The minimum deposit requirement for Fortrade is $100.

Does Fortrade charge fees for trading?

Fortrade charges a spread on each trade, which is the difference between the bid and ask price. The spread varies depending on the asset being traded. There are no commissions charged on trades.

What is the customer support like with Fortrade?

Fortrade provides customer support through multiple channels, including live chat, email, and phone, which are all accessible 24/5 during market hours.