Compare Fortrade vs Orbex
What is Fortrade? What is Orbex?
Fortrade is a UK-based broker that was founded in 2013. It offers trading on currencies, indices, stocks, commodities, and cryptocurrencies. It is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia.
Orbex is a Cyprus-based broker that was founded in 2011. It offers trading on currencies, metals, energies, indices, and stocks. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus and the Financial Services Commission (FSC) in Mauritius.
Fortrade vs Orbex Regulation Comparison
Both brokers are regulated by reputable authorities in their respective jurisdictions. Fortrade has licenses from the FCA and ASIC, which are among the most strict and respected regulators in the world. Orbex has licenses from CySEC and FSC, which are also well-known and reliable regulators in Europe and Africa.
However, Fortrade has an advantage over Orbex in terms of investor protection. Fortrade is a member of the Financial Services Compensation Scheme (FSCS) in the UK, which covers up to £85,000 per client in case of broker insolvency. Orbex is a member of the Investor Compensation Fund (ICF) in Cyprus, which covers up to €20,000 per client in case of broker failure. Therefore, Fortrade offers higher compensation than Orbex in case of a worst-case scenario.
Fortrade vs Orbex Trading Assets Comparison
Both brokers offer a wide range of trading assets, including forex, indices, stocks, commodities, and cryptocurrencies. However, there are some differences in the number and variety of assets available on each platform.
Fortrade offers over 300 trading instruments, including 60 currency pairs, 19 indices, 150 stocks, 18 commodities, and 50 cryptocurrencies. Orbex offers over 200 trading instruments, including 36 currency pairs, 11 indices, 120 stocks, 6 commodities, and 28 cryptocurrencies.
Fortrade vs Orbex Trading Fees Comparison
Both brokers charge competitive fees for their trading services. However, there are some differences in the pricing structure and conditions of each broker.
Fortrade charges variable spreads on all its trading instruments, starting from 0.8 pips on major forex pairs. It does not charge any commissions or hidden fees on its trades. It also offers zero-spread accounts for a limited time with a $1 commission per side.
Orbex charges variable spreads on most of its trading instruments, starting from 0 pips on major forex pairs. However, it also charges commissions on some of its account types, ranging from $6 to $10 per lot round turn. It does not charge any other fees on its trades.
Fortrade vs Orbex Account Types Comparison
Fortrade offers two account types: Standard and Professional. The Standard account is suitable for beginners and intermediate traders who want to trade with low minimum deposits and leverage up to 1:30. The Professional account is suitable for experienced traders who want to trade with higher leverage up to 1:200 and access to more advanced tools and services.
Orbex offers four account types: Fixed Spread Account (FSA), Variable Spread Account (VSA), Scalping Account (SA), and Zero Spread Account (ZSA). The FSA is suitable for traders who want to trade with fixed spreads starting from 1.9 pips and no commissions. The VSA is suitable for traders who want to trade with variable spreads starting from 1.5 pips and no commissions. The SA is suitable for traders who want to trade with variable spreads starting from 0.6 pips and a commission of $6 per lot round turn. The ZSA is suitable for traders who want to trade with zero spreads and a commission of $10 per lot round turn.
Fortrade vs Orbex Deposit Options Comparison
Fortrade accepts deposits and withdrawals via credit/debit cards, bank wire transfers, e-wallets (such as Skrill, Neteller, and WebMoney), and online payment systems (such as Sofort, iDeal, and Trustly). It does not charge any fees on deposits or withdrawals. It processes deposits instantly and withdrawals within 1-3 business days.
Orbex accepts deposits and withdrawals via credit/debit cards, bank wire transfers, e-wallets (such as Skrill, Neteller, and FasaPay), and online payment systems (such as KNET and Hesab). It does not charge any fees on deposits or withdrawals. It processes deposits instantly and withdrawals within 24 hours.
Fortrade vs Orbex Trading Platforms Comparison
Both brokers use the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as their main trading platforms. These platforms are widely used by traders around the world for their user-friendly interface, fast execution, advanced charting tools, automated trading features, and custom indicators and scripts.
However, there are some differences in the availability and functionality of each platform on each broker.
Fortrade offers both MT4 and MT5 platforms on desktop, web, and mobile devices. It also offers its own proprietary platform called Fortrader, which is a web-based platform that allows traders to access the markets from any browser. Fortrader has a simple and intuitive design, with over 300 trading instruments, market news, analysis, signals, and educational resources.
Orbex offers only MT4 platform on desktop, web, and mobile devices. It does not offer MT5 or any other proprietary platform. However, it provides some additional tools and services for its MT4 users, such as free VPS hosting, Trading Central analysis, Orbex TradeLab signals, Orbex Strategizer automated trading, and Orbex Web TV video news.
Fortrade vs Orbex Analytical Tools Comparison
Fortrade provides daily market analysis and review on its website and platform. It also offers free educational resources such as webinars, seminars, ebooks, videos, articles, glossary, FAQs, and quizzes. It does not offer any third-party analysis or signals service.
Orbex provides daily market analysis and review on its website and platform. It also offers free educational resources such as webinars, seminars, ebooks, videos, articles, glossary, FAQs, and tutorials. It also offers Trading Central analysis service for its active clients, which provides technical analysis, market commentary, trading signals, economic calendar.
Fortrade vs Orbex. 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 style and goals. There is no definitive answer as to which broker is better, as each broker has its own strengths and weaknesses. However, here are some general guidelines and comparisons to help you make an informed choice.
Fortrade and Orbex are both reputable and regulated brokers that offer forex and CFDs trading on various platforms and instruments. However, they also have some notable differences in terms of their regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, and analytical tools.
Here are some of the main advantages and disadvantages of each broker:
Fortrade:
- Advantages:
- It is regulated by the FCA and ASIC, which are among the most strict and respected regulators in the world.
- It offers higher compensation than Orbex in case of broker insolvency, up to £85,000 per client.
- It offers more trading assets than Orbex overall, especially in terms of stocks and cryptocurrencies.
- It does not charge any commissions or hidden fees on its trades.
- It offers both MT4 and MT5 platforms, as well as its own proprietary platform called Fortrader.
- It offers daily market analysis and review on its website and platform.
- Disadvantages:
- It offers lower leverage than Orbex, up to 1:200 for professional clients only.
- It offers fewer forex pairs and commodities than Orbex.
- It does not offer any third-party analysis or signals service.
Orbex:
- Advantages:
- It is regulated by CySEC and FSC, which are also well-known and reliable regulators in Europe and Africa.
- It offers higher leverage than Fortrade, up to 1:500 for all clients.
- It offers more forex pairs and commodities than Fortrade.
- It offers zero-spread accounts for traders who want to trade with minimal costs.
- It processes withdrawals within 24 hours, faster than Fortrade.
- It offers Trading Central analysis service for its active clients, which provides technical analysis, market commentary, trading signals, economic calendar, and more.
- Disadvantages:
- It offers lower compensation than Fortrade in case of broker failure, up to €20,000 per client.
- It offers fewer trading assets than Fortrade overall, especially in terms of stocks and cryptocurrencies.
- It charges commissions on some of its account types, ranging from $6 to $10 per lot round turn.
- It offers only MT4 platform, without MT5 or any other proprietary platform.
Based on these comparisons, you may have a better idea of which broker suits your needs and preferences better. However, I suggest that you also do your own research and due diligence before making a final decision.
