Compare NordFX vs Fortrade
What is NordFX? What is Fortrade?
NordFX is an international forex broker established in 2008. It provides online trading platforms and free training for various financial instruments, including currencies, stocks, indices, commodities, cryptocurrencies and more. It offers low spreads, high leverage, fast order execution and mobile trading. It is authorised and regulated by the Financial Services Commission of Mauritius (FSC), the National Bank of the Republic of Belarus (NBRB), the Investment Industry Regulatory Organization of Canada (IIROC) and the Australian Securities and Investments Commission (ASIC) .
Fortrade is a leading provider of online currency and CFD trading since 2013. It offers hundreds of products to trade on its advanced and user-friendly platforms, including Fortrader, Metatrader 4 and mobile apps. It also provides market analysis, educational resources, trading tools and support services. It is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, the Investment Industry Regulatory Organization of Canada (IIROC), the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC) .
NordFX vs Fortrade Regulation Comparison
| Regulator | NordFX | Fortrade |
|---|---|---|
| FSC (Mauritius) | Yes | Yes |
| NBRB (Belarus) | Yes | No |
| IIROC (Canada) | Yes | Yes |
| ASIC (Australia) | Yes | Yes |
| FCA (UK) | No | Yes |
| CySEC (Cyprus) | No | Yes |
NordFX vs Fortrade Trading Assets Comparison
| Asset Class | NordFX | Fortrade |
|---|---|---|
| Currencies | 33 pairs | 60+ pairs |
| Stocks | 70+ CFDs | 300+ CFDs |
| Indices | 11 CFDs | 20+ CFDs |
| Commodities | 6 metals, 3 energies, 4 agriculture products | 7 metals, 5 energies, 7 agriculture products |
| Cryptocurrencies | 11 CFDs | 6 CFDs |
| US Treasuries | No | Yes |
NordFX vs Fortrade Trading Fees Comparison
| Fee Type | NordFX | Fortrade |
|---|---|---|
| Spreads | From 0.0 pips on Zero account, from 0.9 pips on Pro account, from 2 pips on Fix account | From 0.8 pips on EUR/USD |
| Commissions | $7 per lot on Zero account, no commissions on Pro and Fix accounts | No commissions |
| Swap Rates | Variable depending on instrument and account type | Variable depending on instrument |
| Inactivity Fee | No inactivity fee but accounts with zero balance may be closed after six months of inactivity | $10 per month after six months of inactivity |
NordFX vs Fortrade Account Types Comparison
NordFX offers four types of accounts: Fix, Pro, Zero and Savings. The Fix account has fixed spreads from 2 pips, no commissions and a minimum deposit of $10. The Pro account has variable spreads from 0.9 pips, no commissions and a minimum deposit of $100. The Zero account has variable spreads from 0 pips, commissions of $7 per lot and a minimum deposit of $500. The Savings account has a minimum investment of $500, an average yearly interest of 30% and a yearly loan interest of 3%. All accounts have a leverage of up to 1:1000 and a quote precision of either four or five digits .
Fortrade offers one standard account type with variable spreads from 0.8 pips on EUR/USD, no commissions and a minimum deposit of $100. The account has a leverage of up to 1:200 for retail clients and up to 1:300 for professional clients. The account also has a quote precision of five digits .
NordFX vs Fortrade Deposit Options Comparison
NordFX accepts various payment methods for deposits and withdrawals, including bank wire transfer, credit/debit cards, Skrill, Neteller, WebMoney, Perfect Money, QIWI Wallet, Yandex.Money, NganLuong.vn and cryptocurrencies. The minimum deposit amount is $10 for most methods, except for bank wire transfer which is $50. The minimum withdrawal amount is $5 for most methods, except for bank wire transfer which is $150. The processing time for deposits is instant for most methods, except for bank wire transfer which may take up to 5-6 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfer which may take up to 3-5 business days. NordFX does not charge any fees for deposits and withdrawals, but third-party fees may apply .
Fortrade accepts various payment methods for deposits and withdrawals, including bank wire transfer, credit/debit cards, Skrill, Neteller, WebMoney, Sofort, iDeal, Przelewy24 and Trustly. The minimum deposit amount is $100 for most methods, except for bank wire transfer which is $500. The minimum withdrawal amount is $50 for most methods, except for bank wire transfer which is $100. The processing time for deposits is instant for most methods, except for bank wire transfer which may take up to 3-5 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfer which may take up to 3-5 business days. Fortrade does not charge any fees for deposits and withdrawals, but third-party fees may apply .
NordFX vs Fortrade Trading Platforms Comparison
NordFX offers the MetaTrader 4 platform as its main trading platform. It is available as a desktop application, a web-based version and a mobile app for iOS and Android devices. MetaTrader 4 is a popular and powerful platform that supports multiple order types, advanced charting tools, technical indicators, automated trading strategies and customisable features .
Fortrade offers two main trading platforms: Fortrader and MetaTrader 4. Fortrader is a proprietary platform that is designed to be simple and user-friendly. It is available as a web-based version and a mobile app for iOS and Android devices. Fortrader supports multiple order types, one-click trading, advanced charting tools, technical indicators and trading signals . MetaTrader 4 is also available as a desktop application, a web-based version and a mobile app for iOS and Android devices. It has the same features as NordFX’s MetaTrader 4 platform .
NordFX vs Fortrade Analytical Tools Comparison
NordFX provides various analytical tools and resources to help traders make informed decisions. These include market news and forecasts, economic calendar, trading signals, technical analysis tools, trading calculators and educational materials .
Fortrade also provides various analytical tools and resources to help traders make informed decisions. These include market news and analysis, economic calendar, trading central analysis, trading product details, company policy and procedures, swap free Islamic account option and educational materials .
NordFX vs Fortrade . Which forex broker is better? Which forex broker should you choose?
There is no definitive answer as to which forex broker is better or which one you should choose. It depends on your personal preferences, trading goals, risk appetite, level of experience and other factors. However, here are some possible advantages and disadvantages of each broker:
NordFX:
- Advantages: Low spreads on Zero account, high leverage, fast order execution, mobile trading, multiple regulators, various payment methods, no inactivity fee, savings account option, MetaTrader 4 platform
- Disadvantages: Commissions on Zero account, fixed spreads on Fix account, limited number of assets, no FCA or CySEC regulation, cryptocurrencies traded through a separate website
Fortrade:
- Advantages: No commissions, wide range of assets, FCA and CySEC regulation, multiple payment methods, Fortrader and MetaTrader 4 platforms
- Disadvantages: Higher spreads than NordFX, lower leverage for retail clients, inactivity fee, no savings account option
Ultimately, you should do your own research and due diligence before choosing a forex broker. You can also try their demo accounts to test their platforms and services before opening a real account.
