deposit:
- $100
Trading platform:
- MT4
- ForTrader
- FCA
- ASIC
- CySEC
- FSC
- and CIRO
- 0%
deposit:
- $100
Trading platform:
- MT4
- ForTrader
- FCA
- ASIC
- CySEC
- FSC
- and CIRO
- 0%
Note!
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Traders Union experts have analyzed all companies providing trading services in your country legally and compiled a rating of the best companies that offer the best working conditions, have reliable reputation and the highest number of positive reviews among traders on our website.
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Summary of Fortrade Trading Company
Fortrade is a moderate-risk broker with the TU Overall Score of 5.6 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Fortrade clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. Fortrade ranks 79 among 406 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Fortrade has numerous licenses which promote it as a reliable broker. However, its trading conditions cannot be called the most profitable for its clients.
Fortrade is a multi-regulated Forex and CFD broker that has representative offices in five countries. In London in 2014, it was registered and licensed by FCA 609970 (Financial Conduct Authority), one of the world’s most reputable supervisory bodies. Over the following years, Fortrade obtained licenses from ASIC 493520 (Australian Securities and Investments Commission), CIRO (Canadian Investment Regulatory Organization), CySEC 385/20 (Cyprus Securities and Exchange Commission), FSC (Financial Services Commission | Mauritius), and NBRB (National Bank of the Republic of Belarus). Its clients can trade over 300 instruments with leverage up to 1:200 and variable or fixed spreads. The international office regulated by FSC doesn’t provide its services to traders from over 70 countries, including France, Germany, and the UK. A full list of countries is provided in the FAQs section. U.S. residents cannot open accounts with any of Fortrade’s offices.
💰 Account currency: | EUR, USD, GBP, and TYR |
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🚀 Minimum deposit: | $100 |
⚖️ Leverage: | Up to 1:200 |
💱 Spread: | From 2 pips for Forex |
🔧 Instruments: | 50 currency pairs, indices, stocks, commodities (precious metals, agricultural products, energies), U.S. bonds, ETFs, Micro Bitcoin futures, and Ethereum futures |
💹 Margin Call / Stop Out: | 100%/20% |
👍 Advantages of trading with Fortrade:
- Negative balance protection for all retail clients;
- Wide choice of trading instruments with leverage;
- Proprietary platform and classic MetaTrader 4 are available;
- Presence on the market since 2014 and regulation by reputable financial supervisory commissions;
- Professional market reviews, including analytics from Trading Central;
- Partnership programs for traders, bloggers, companies, and institutional clients;
- No deposit or withdrawal fees.
👎 Disadvantages of Fortrade:
- High trading fees, including those for the most liquid currency pairs;
- No trust management services;
- The Fortrader trading platform runs with delays and freezes occasionally.
Evaluation of the most influential parameters of Fortrade
Trade with this broker, if:
- You seek a well-regulated broker authorized by the Financial Conduct Authority (FCA) and other reputable authorities, ensuring a secure trading environment.
- You are a Beginner or Intermediate Trader as this platform provides a user-friendly and intuitive platform, along with educational resources and demo accounts for learning and practice.
Do not trade with this broker, if:
- You are a US Resident or Citizen as CFDs are not available in the USA due to local regulations. Consequently, Fortrade does not accept US citizens or US residents as clients.
- You are looking for low trading fees and spreads, as Fortrade charges higher than average commissions and overnight fees.
Geographic Distribution of Fortrade Traders
Popularity in
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Fortrade Latest Comments for 2023 i
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Expert Review of Fortrade
Fortrade offers quite a diverse range of trading instruments, including currencies, indices, stocks, ETFs, and U.S. bonds. Cryptocurrencies are provided as futures on Micro Bitcoin and Ethereum. Available commodities are energies (oil, gas, and fuel oil), precious metals (silver, gold, platinum, and palladium), and agricultural products.
All the above instruments are traded on the Over-the-Counter (OTC) market in the CFD format. However, professional clients can ask for Direct Market Access (DMA) to trade stocks of famous companies listed on Nasdaq and NYSE. To get the Professional status, traders must comply with regulatory requirements for capital and experience.
The minimum deposit at Fortrade is $100 and the recommended amount is $500. The minimum deposit by a bank transfer is $250 and it takes up to 7 days. Residents of certain countries can deposit and withdraw cryptocurrencies. Major currency pairs, including EUR/USD, are traded with fixed spreads, which is not always profitable for traders. Overall, Fortrade’s fees are rather high, but deposit and withdrawal conditions are quite loyal.
Latest Fortrade News
Dynamics of Fortrade’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
Fortrade doesn’t have proprietary investment solutions. The Fortrader platform is intended only for active Forex and CFD trading. Users don’t have access to social trading and trading with robots. The broker doesn’t offer PAMM or MAM services. To receive passive income, its clients can use partnership programs and standard capabilities of MetaTrader 4 that are discussed below.
Passive income with Fortrade
After traders install MT4 and register on the mql4.com website, they can choose a tool that helps them to automate trading and make passive income. Investment solutions are as follows:
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Copy trading. Click the “Signals” button at the top of the mql4.com website to see the list of signal providers whose trades you can copy. This service isn’t free for investors: once a month they pay subscription fees to chosen providers even if trades are unprofitable. Additionally, investors pay a percentage of their income from profitable trades.
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Trading with special programs. On the mql4.com website, there is the Market section where expert advisors (EAs) and indicators for algorithmic trading are available. Unlike copy trading, using trading robots is free, however, traders pay to buy them. Not all advisors are paid, since free programs are available. EAs can be tested on the MT4 demo account.
Copy trading and robots don’t guarantee income to investors, as they are the only potential options to earn in financial markets. Fortrade doesn’t charge fees for using these services. The only brokerage fee for automated trading is the spreads which can be variable or fixed subject to the trading instrument.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership programs from Fortrade:
The company offers partnership programs for retail clients and companies. Financial Institutes and White Labels programs are available for professional partnership. If traders aren’t potential partners of this brokerage company but want to receive rewards from the direct attraction of non-associated traders, they can choose the following solutions:
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Online affiliate;
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Introducing Broker;
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Call center;
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Money manager;
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Service provider;
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Trading Academy.
Depending on the chosen program and the trader’s country, Fortrade offers commission plans and marketing tools provided by Track360.
Trading Conditions for Fortrade Users
Leverage depends on the asset and the Fortrade representative office. The maximum leverage for major and minor currency pairs is up to 1:200; for exotic pairs, it is up to 1:20-1:50; for indices and commodities, it is up to 1:100; for stocks, it is up to 1:2-1:10; for ETFs, it is up to 1:5; for bonds, it is up to 1:20; and for Ethereum futures, it is 1:2. Traders must use their own funds to trade Bitcoin futures. Leverage for retail clients that work under the regulation of CySEC, FCA, and ASIC is not more than 1:30.
$100
Minimum
deposit
1:200
Leverage
24/5
Support
💻 Trading platform: | Fortrader (web and mobile) and MetaTrader 4 (desktop and mobile) |
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📊 Accounts: | Demo and real (Forex & CFD Trading account and Swap Free Islamic account) |
💰 Account currency: | EUR, USD, GBP, and TYR |
💵 Replenishment / Withdrawal: | Bank cards, Neteller, Skrill, PayPal, wire transfers/international telegraphic transfer (Swift), Google Pay, and cryptocurrencies (not all countries) |
🚀 Minimum deposit: | $100 |
⚖️ Leverage: | Up to 1:200 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 Spread: | From 2 pips for Forex |
🔧 Instruments: | 50 currency pairs, indices, stocks, commodities (precious metals, agricultural products, energies), U.S. bonds, ETFs, Micro Bitcoin futures, and Ethereum futures |
💹 Margin Call / Stop Out: | 100%/20% |
🏛 Liquidity provider: | No |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Instant |
⭐ Trading features: |
Any strategy is allowed; Variable and fixed spreads. |
🎁 Contests and bonuses: | Credit Bonus and Balance Bonus |
Comparison of Fortrade with other Brokers
Fortrade | RoboForex | Eightcap | Exness | XM Group | AMarkets | |
Trading platform |
MT4, MobileTrading, WebTrader, ForTrader for PC, Mobile Fortrader, Fortrader online | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, MobileTrading, XM App | MT4, MT5, AMarkets App |
Min deposit | $100 | $10 | $100 | $10 | $5 | $100 |
Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:30 |
From 1:1 to 1:3000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 2 points | From 0 points | From 0 points | From 1 point | From 0.6 points | From 0 points |
Level of margin call / stop out |
100% / 20% | 60% / 40% | 80% / 50% | No / 60% | 100% / 50% | 50% / 20% |
Execution of orders | Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | Yes | No | No | Yes | No |
Broker comparison table of trading instruments
Fortrade | RoboForex | Eightcap | Exness | XM Group | AMarkets | |
Forex | Yes | Yes | Yes | Yes | Yes | Yes |
Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
Crypto | Yes | No | Yes | Yes | Yes | Yes |
CFD | Yes | Yes | Yes | Yes | Yes | Yes |
Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
Stock | Yes | Yes | Yes | Yes | Yes | Yes |
ETF | Yes | Yes | No | No | No | No |
Options | No | No | No | No | No | No |
Fortrade Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
Forex & CFD Trading | $20 | Can be charged by a bank or payment system |
Islamic | $60 | Can be charged by a bank or payment system |
All orders left open after 17:00 (New York Time) are charged with the Holding Cost fee. Its value is subject to the asset and the position type (short or long), therefore it can bring both profit and loss. Also, swaps are charged for trades left open after 20:59 (GMT). The exception is the Islamic account.
The table below provides the average fees of Fortrade and its competitors. Spreads on all account types available with each broker were taken into consideration.
Broker | Average commission | Level |
Fortrade | $40 | High |
RoboForex | $1 | Low |
Pocket Option | $8.5 | Medium |
Detailed review of Fortrade
Fortrade’s services are in demand worldwide due to reliable regulation and a wide range of trading instruments. The broker provides its services to over 120,000 retail traders and more than 10,000 institutional clients. Trading over 300 CFDs, including 50 currency pairs, allows traders to choose interesting markets, while margin trading expands opportunities for traders even with small deposits. Fortrade complies with MiFID II requirements, holds client funds in segregated bank accounts, and applies reliable SSL (Secure Socket Layer) protocols.
Fortrade by the numbers:
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10+ years of regulated operation;
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5 licenses in different jurisdictions;
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Over 119,000 followers on Facebook;
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130,000+ registered traders.
Fortrade is a broker for active trading
The broker offers trading on two trading platforms — MetaTrader 4 and its in-house Fortrader platform. Assets and fees on both platforms are similar, but only MT4 is available for mobile trading. Web trading is possible only on Fortrader. To protect their deposits from big losses in case of market movement in the opposite direction, Fortrade clients can hedge their trades. However, this option is available only on Fortrader.
Most assets are traded with floating spreads. The exceptions are EUR/USD, GBP/USD, USD/JPY, crude oil, gold, and silver. Fixed Standard and Night spread types are applied to these assets. Night spreads are higher and are charged from 22:01 for currency pairs, and from 22:30 to 05:00 (GMT) for metals and oil.
Useful services offered by Fortrade:
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Weekly reviews of global financial markets are provided as short videos;
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Push messages on the website provide real-time Fortrade news and offers;
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YouTube channel with over 720 useful videos in different languages;
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Daily market analysis, weekly updates, microanalysis, and special reports on different asset classes;
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Unlimited demo account, as well as educational webinars and seminars.
Advantages:
Popular strategies like hedging, social and arbitrary trading, are allowed;
To open a demo account, uploading documents isn’t required;
24/5 technical support;
The company participates in compensation schemes of European regulators;
Bonus programs to expand trader’s opportunities are offered.
The user account verification takes up to 24 hours. Also, instant deposits like Google Pay and popular payment systems are available.
Guide on how traders can start earning profits
If traders are not Muslims, they can use two account types — demo and live STP (Straight Through Processing). For Islamic countries, Fortrade offers the Swap Free (Islamic) account.
Account types:
A demo account on Fortrader has a virtual deposit of €10,000 and is not limited in time. A demo account on MT4 is available for 30 days.
Fortrade’s trading conditions vary subject to the regulator, financial instrument, and client residency.
Fortrade’s bonuses
Bonuses are granted by Fortrade Mauritius Ltd, therefore they are not available to all clients
Moreover, there are special conditions for certain countries: for example, traders from Egypt, the Russian Federation, China, and Indonesia can receive bonuses only if they deposit funds by bank transfer. Fortrade offers Credit Bonus and Balance Bonus. Bonus funds cannot be withdrawn before reaching a target volume specified in the agreement; they are used exclusively for trading.
Investment Education Online
The Trading Academy section of the broker’s website allows traders to get basic trading skills and improve their professional level. It is divided into three blocks. Useful Info includes market analysis, a blog with useful articles, and answers to popular questions about trading. Trading Tools offers Forex calculators. Online Academy provides the basics of trading financial instruments.
The broker provides access to webinars on third-party sites. Any guest of the Fortrade website can participate in them for free. To do this, submit an application providing your name, phone number, and email. To get practical trading skills, use a demo account.
Security (Protection for Investors)
Fortrade is an international multi-regulated investment holding firm.
It provides its services in the UK under license number 609970 issued by FCA. In Canada, the broker is supervised by CIRO under license number BC1148613. Also, Fortrade is licensed by ASIC under number 493520; by CySEC, under number 385/20; by NBRB, under number 193075810; and by FSC, under number GB21026472. The Mauritius office provides its services to traders worldwide. Financial commissions of other countries protect the interests of their residents only.
Funds of clients serviced by FCA-, CIRO-, and CySEC-regulated offices are protected by compensation programs. UK residents can receive up to £85,000 from the Financial Services Compensation Scheme; Canadian residents - up to $1 million from the Canadian Investor Protection Fund; EU residents - up to €20,000 from the Investor Compensation Fund. This is not compensation for trading losses. The money is paid if the broker doesn’t withdraw trader funds, suspends its activities, declares bankruptcy, etc.
👍 Advantages
- Negative balance protection for retail clients
- Monitoring of Fortrade’s financial performance in 5 countries
- FCA license is active since 2014
👎 Disadvantages
- Trading conditions vary for different offices
- Compensation for losses isn’t available to all traders
- Leverage is limited for residents of the EU, Australia, and the UK
Withdrawal Options and Fees
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The list of payment systems available for withdrawals is subject to the trader’s country.
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If withdrawals are made by bank transfers, funds are credited within 5 days; withdrawals to bank cards take up to 15 days.
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Bank cards can be used to withdraw amounts equal to deposits made from the same cards. Profits are withdrawn by bank transfers or through electronic payment systems.
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Fees can be charged by banks that receive/process/send transfers.
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When withdrawing funds, it’s important to comply with the rules to maintain free margin on the account. If margin isn’t enough, the broker rejects the withdrawal request and reports the maximum amount available for withdrawal.
Customer Support Service
Technical support is available round the clock from Monday to Friday.
👍 Advantages
- Live chat is available on the website
- Traders can ask for assistance in their languages
👎 Disadvantages
- Support isn’t available on holidays and weekends
- Only Fortrade clients can get high-quality responses
When clients or website guests need help, they can use any of these communication channels:
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Live chat on the website or on the trading platform;
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Telephone (numbers are provided on the website);
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Facebook or X (formerly Twitter).
The broker’s website has a feedback form to contact support. Users can receive answers by email or telephone.
Contacts
Foundation date | 2004 |
Registration address | Fortrade Cyprus Ltd, office 302, Abbey Tower, Block A, 34, Kosta Partasides Street, 3030 Limassol, Cyprus |
Regulation |
FCA, ASIC, CySEC, FSC, and CIRO Licence number: 493520, 193075810, 385/20, 609970 |
Official site | https://www.fortrade.com/ |
Contacts |
Email:
support@fortrade.com,
Phone: +44 203 966 4505 |
Review of Fortrade’s user account
Only Fortrade clients can access user accounts with the broker. To become its client, do the following:
To quickly open demo or real account types, click the “Open Account” button to choose the necessary account type from the drop-down list.
The registration process includes three stages. The first stage requires your first and last names, phone number, and email. At the second stage, provide your residence address with a postal code. At the final stage, provide the data on your citizenship, choose the account currency, generate a password, and indicate your employment and income. Next, upload documents confirming your identity and residence address.
Use the Fortrade’s user account to:
Additional features of the user account that allow you to:
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Use economic calendar;
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Open additional trading accounts;
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Submit withdrawal requests;
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View statistics on open, closed, and pending orders;
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View the history of monetary transactions;
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Contact technical support;
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Set up alerts.
Disclaimer:
Your capital is at risk. 77% of retail investor accounts lose money when trading CFDs with this provider. CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time.
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FAQs
Do reviews by traders influence the Fortrade rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Fortrade you need to go to the broker's profile.
How to leave a review about Fortrade on the Traders Union website?
To leave a review about Fortrade, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Fortrade on a non-Traders Union client?
Anyone can leave feedback about Fortrade on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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