Compare Fortrade vs Markets.com
What is Fortrade? What is Markets.com?
Fortrade is a UK-based online broker that offers CFD trading on various financial instruments, such as forex, stocks, indices, commodities, and cryptocurrencies. Fortrade is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia.
Markets.com is a global online broker that offers CFD and spread betting trading on a wide range of financial instruments, such as forex, stocks, indices, commodities, ETFs, and cryptocurrencies. Markets.com is operated by TradeTech Markets Limited, which is regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Australian Securities and Investments Commission (ASIC) in Australia.
Fortrade vs Markets.com Regulation Comparison
Both Fortrade and Markets.com are regulated by reputable authorities in different jurisdictions, which means they have to comply with strict rules and standards to protect their clients’ funds and data. However, there are some differences in the level of protection offered by each regulator. For example, the FCA provides up to £85,000 of compensation per client in case of insolvency of the broker, while the CySEC provides up to €20,000. The ASIC does not provide any compensation scheme for clients of brokers regulated by it.
Additionally, both Fortrade and Markets.com are members of the Investor Compensation Fund (ICF), which covers eligible clients in case of failure of the broker to fulfill its obligations. However, the ICF only applies to clients who trade with the Cyprus-based entity of Markets.com, not the other entities.
Fortrade vs Markets.com Trading Assets Comparison
Both Fortrade and Markets.com offer a large variety of trading assets for their clients to choose from. However, Markets.com has a slight edge over Fortrade in terms of the number and diversity of assets available. According to their websites, Fortrade offers over 300 CFDs on forex, stocks, indices, commodities, and cryptocurrencies, while Markets.com offers over 2,200 CFDs and spread bets on forex, stocks, indices, commodities, ETFs, and cryptocurrencies.
Moreover, Markets.com also offers some unique trading products that are not available on Fortrade, such as thematic portfolios (a collection of CFDs based on a specific theme or trend), blends (a combination of CFDs from different asset classes), and IPOs (initial public offerings of new stocks).
Fortrade vs Markets.com Trading Fees Comparison
- Both Fortrade and Markets.com charge competitive fees for their trading services. However, the exact fees may vary depending on the type of asset, account type, trading volume, and market conditions. Therefore, it is important to check the fee schedule of each platform before opening a trade. Here are some examples of the fees charged by each platform for some popular assets:
- EUR/USD: Fortrade charges a fixed spread of 2 pips for this currency pair, while Markets.com charges a variable spread that starts from 0.6 pips. However, Markets.com also charges a rollover fee for holding positions overnight, while Fortrade does not.
- Gold: Fortrade charges a fixed spread of 0.5 points for this commodity, while Markets.com charges a variable spread that starts from 0.37 points. Both platforms charge rollover fees for holding positions overnight .
- Bitcoin: Fortrade charges a fixed spread of 45 points for this cryptocurrency, while Markets.com charges a variable spread that starts from 36 points. Both platforms charge rollover fees for holding positions overnight .
Fortrade vs Markets.com Account Types Comparison
- Both Fortrade and Markets.com offer different types of accounts for their clients to suit their trading needs and preferences. However, there are some differences in the features and requirements of each account type. Here are some examples of the account types offered by each platform:
- Standard Account: This is the default account type for both platforms. It requires a minimum deposit of $100 for Fortrade and $250 for Markets.com. It offers access to all the trading assets and platforms available on each platform.
- Professional Account: This is an account type for experienced traders who meet certain criteria in terms of trading volume, portfolio size, and knowledge. It allows traders to access higher leverage ratios (up to 1:200 for Fortrade and up to 1:300 for Markets.com), but also reduces the level of regulatory protection (such as the FCA compensation scheme and the negative balance protection). It requires a minimum deposit of $500 for Fortrade and $250 for Markets.com.
- Islamic Account: This is an account type for traders who follow the Islamic faith and want to trade in accordance with the Sharia law. It does not charge or receive any interest or swap fees for holding positions overnight. It requires a minimum deposit of $100 for Fortrade and $250 for Markets.com.
Fortrade vs Markets.com Deposit Options Comparison
- Both Fortrade and Markets.com offer various options for depositing and withdrawing funds from their trading accounts. However, there are some differences in the availability, speed, and cost of each option. Here are some examples of the deposit and withdrawal options offered by each platform:
- Credit/Debit Card: This is a common and convenient option for both platforms. It allows traders to deposit and withdraw funds instantly and securely. However, Fortrade charges a 1.5% fee for deposits made by credit/debit card, while Markets.com does not charge any fee for this option.
- Bank Wire Transfer: This is another common option for both platforms. It allows traders to deposit and withdraw large amounts of funds directly from their bank accounts. However, it may take several days for the funds to be processed and credited to the trading account. Moreover, both platforms may charge a fee for withdrawals made by bank wire transfer, depending on the amount and the destination country .
- E-Wallets: These are online payment services that allow traders to deposit and withdraw funds quickly and easily. Some examples of e-wallets supported by both platforms are Skrill, Neteller, PayPal, and WebMoney. However, the availability of each e-wallet may vary depending on the country of residence of the trader. Moreover, some e-wallets may charge a fee for their services, which should be checked before using them .
Fortrade vs Markets.com Trading Platforms Comparison
- Both Fortrade and Markets.com offer various trading platforms for their clients to access the markets and execute their trades. However, there are some differences in the features and functionality of each platform. Here are some examples of the trading platforms offered by each platform:
- WebTrader: This is a web-based platform that can be accessed from any browser without downloading or installing any software. It offers a user-friendly interface, advanced charting tools, custom indicators, trading signals, market news, and more. Both platforms have their own version of WebTrader, which are similar in design and performance .
- MetaTrader 4 (MT4): This is a popular and widely used platform that can be downloaded and installed on desktop or mobile devices. It offers a powerful trading environment, with multiple order types, automated trading, technical analysis tools, custom indicators, expert advisors, market news, and more. Both platforms support MT4 as an alternative option to their WebTrader .
- Mobile App: This is a mobile application that can be downloaded and installed on iOS or Android devices. It allows traders to access the markets and manage their trades anytime and anywhere. It offers a simplified interface, with basic charting tools, order management, market news, push notifications, and more. Both platforms have their own mobile app, which are compatible with their WebTrader and MT4 platforms .
Fortrade vs Markets.com Analytical Tools Comparison
Both Fortrade and Markets.com offer various analytical tools for their clients to enhance their trading experience and performance. However, there are some differences in the type and quality of each tool. Here are some examples of the analytical tools offered by each platform:
- Trading Signals: These are recommendations or suggestions for entering or exiting a trade based on technical or fundamental analysis. Both platforms provide trading signals from third-party providers, such as Trading Central or Autochartist. However, Markets.com offers more trading signals than Fortrade, covering more assets and timeframes .
- Economic Calendar: This is a tool that displays the schedule of important economic events that may affect the markets, such as interest rate decisions, GDP reports, inflation data, etc. Both platforms provide an economic calendar on their WebTrader platform, but Markets.com also provides it on its mobile app .
- Market News: This is a tool that provides the latest news and updates on the financial markets, such as price movements, trends, analysis, opinions, etc. Both platforms provide market news from reputable sources, such as Reuters or Bloomberg. However, Markets.com also offers more market news than Fortrade, covering more topics and categories, such as politics, business, technology, entertainment, etc.
- Trading Education: This is a tool that provides educational resources and materials for traders to learn and improve their trading skills and knowledge. Both platforms provide trading education on their websites, but Markets.com also provides it on its WebTrader platform and mobile app. The trading education offered by Markets.com includes videos, webinars, articles, e-books, courses, quizzes, etc.
Fortrade vs Markets.com. 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 to which forex broker is better or which one you should choose, as different brokers may suit different traders. However, you should also do your own research and due diligence before making a final decision, as different brokers may have different advantages and disadvantages depending on your specific situation and requirements. You should also read the terms and conditions of each broker carefully and understand the risks involved in forex trading.
