Fortrade Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Fortrade trading signals. You will learn what kinds of trading signals Fortrade offers and what the conditions for using them are.
Short introduction of Fortrade
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 (for FSC clients) 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 |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:30 for CySEC, FCA, CIRO and ASIC. Up to 1:200 for FSC |
| 💱 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% |
Fortrade Pros and Cons
👍 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.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Fortrade Trading Signals
Fortrade’s fees are included in spreads. The minimum spread for currency pairs is 2 pips. If traders open an Islamic account, spreads for most currency pairs are 4 pips higher. Additionally, there are fees per lot. Fortrade doesn’t withhold deposit or withdrawal fees in addition to those charged by payment providers. Withdrawals by international bank transfer cost $40. If a trader’s user account is inactive within 6 months, the broker withholds an inactivity fee of $10/€10/£10 a month until the balance is zero.
| 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 |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Fortrade does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
How do I test the signals if I can’t do it on a demo account?
In this case, it is best to test them using the minimum deposit. You will need to check the minimum deposit level of the broker.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.