Compare Fortrade vs EagleFX
What is Fortrade? What is EagleFX?
Fortrade is a UK-based broker that provides online trading of currencies, indices, stocks and commodities. It was founded in 2013 and is regulated by the FCA and ASIC. It offers the Fortrader and MetaTrader 4 platforms, as well as educational resources and market analysis.
EagleFX is a forex and cryptocurrency broker that uses STP execution on the MetaTrader 4 platform. It was established in 2019 and is not regulated by any authority. It offers deep liquidity, high leverage, low spreads and commissions, and 24/7 support.
Fortrade vs EagleFX Regulation Comparison
Fortrade is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. These are reputable regulators that ensure high standards of security, transparency and customer protection for traders.
EagleFX is not regulated by any authority and does not disclose its location or ownership. This means that traders have no legal recourse or protection in case of any disputes or issues with the broker.
Fortrade vs EagleFX Trading Assets Comparison
Fortrade offers over 300 CFDs on various asset classes, including forex, indices, stocks, commodities, ETFs and cryptocurrencies.
EagleFX offers over 100 CFDs on forex, commodities, stocks, indices and cryptocurrencies.
Fortrade vs EagleFX Trading Fees Comparison
Fortrade charges variable spreads and no commissions on its trades. The average spread for the EUR/USD pair is 2 pips. It also charges swap fees for overnight positions and an inactivity fee of $10 per month after 180 days of no trading activity.
EagleFX charges variable spreads and a commission of $6 per lot round turn on its trades. The average spread for the EUR/USD pair is 0.3 pips. It also charges swap fees for overnight positions and no inactivity fee.
Fortrade vs EagleFX Account Types Comparison
Fortrade offers a single account type for all traders, with a minimum deposit of $100 and a maximum leverage of 1:200 for forex and 1:50 for other assets. It also offers a demo account with $10,000 virtual funds for practice.
EagleFX offers a single account type for all traders, with a minimum deposit of $10 and a maximum leverage of 1:500 for all assets. It also offers a demo account with unlimited virtual funds for practice.
Fortrade vs EagleFX Deposit Options Comparison
Fortrade accepts deposits and withdrawals via credit/debit cards, bank wire transfers, Skrill, Neteller, Sofort, iDeal and Trustly. The minimum withdrawal amount is $50 and the processing time is up to 15 business days.
EagleFX accepts deposits and withdrawals via credit/debit cards, bank wire transfers, Bitcoin and USDT. The minimum withdrawal amount is $10 and the processing time is within 30 minutes.
Fortrade vs EagleFX Trading Platforms Comparison
Fortrade offers two trading platforms: Fortrader and MetaTrader 4 (MT4). Fortrader is a proprietary web-based platform that has a user-friendly interface, advanced charting tools, market news and analysis, trading signals and indicators. MT4 is a popular platform that has a wide range of features, such as multiple order types, automated trading, custom indicators, expert advisors, backtesting and mobile trading.
EagleFX offers only one trading platform: MetaTrader 4 (MT4). MT4 has the same features as mentioned above for Fortrade’s MT4 platform.
Fortrade vs EagleFX Analytical Tools Comparison
Fortrade provides various analytical tools for its traders, such as economic calendar, market analysis, trading signals, trading central reports, webinars and ebooks.
EagleFX does not provide any analytical tools for its traders, except for the basic ones available on the MT4 platform.
Fortrade vs EagleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals and risk appetite. There is no definitive answer as to which broker is better, as different brokers may suit different traders. However, here are some general comparisons between Fortrade and EagleFX, two of the forex brokers that interest you.
Fortrade and EagleFX are both online forex and CFD brokers that offer trading on various assets, such as currencies, indices, stocks, commodities and cryptocurrencies. They both use the MetaTrader 4 platform, which is a popular and reliable platform for traders of all levels. They both also offer demo accounts for practice and education.
However, there are also some significant differences between them that you may want to consider before making your choice. Here are some of the main aspects that distinguish them:
- Regulation: Fortrade is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. These are reputable regulators that ensure high standards of security, transparency and customer protection for traders. EagleFX is not regulated by any authority and does not disclose its location or ownership. This means that traders have no legal recourse or protection in case of any disputes or issues with the broker.
- Trading Fees: Fortrade charges variable spreads and no commissions on its trades. The average spread for the EUR/USD pair is 2 pips. It also charges swap fees for overnight positions and an inactivity fee of $10 per month after 180 days of no trading activity. EagleFX charges variable spreads and a commission of $6 per lot round turn on its trades. The average spread for the EUR/USD pair is 0.3 pips. It also charges swap fees for overnight positions and no inactivity fee.
- Account Types: Fortrade offers a single account type for all traders, with a minimum deposit of $100 and a maximum leverage of 1:200 for forex and 1:50 for other assets. EagleFX offers a single account type for all traders, with a minimum deposit of $10 and a maximum leverage of 1:500 for all assets.
- Deposit and Withdrawal Options: Fortrade accepts deposits and withdrawals via credit/debit cards, bank wire transfers, Skrill, Neteller, Sofort, iDeal and Trustly. The minimum withdrawal amount is $50 and the processing time is up to 15 business days. EagleFX accepts deposits and withdrawals via credit/debit cards, bank wire transfers, Bitcoin and USDT. The minimum withdrawal amount is $10 and the processing time is within 30 minutes.
- Analytical Tools: Fortrade provides various analytical tools for its traders, such as economic calendar, market analysis, trading signals, trading central reports, webinars and ebooks. EagleFX does not provide any analytical tools for its traders, except for the basic ones available on the MT4 platform.
As you can see, Fortrade and EagleFX have their own advantages and disadvantages. Fortrade may appeal to traders who value regulation, security and education. EagleFX may appeal to traders who value low fees, high leverage and fast transactions. Ultimately, the choice is yours to make based on your own research and evaluation.
