Fortrade is currently one of our most popular online CFD brokers. It was founded in the UK in 2013, and continues to provide excellent products and services that traders love. They have since expanded their services to Australia, Canada, Cyprus, Belarus and Cyprus due to their incredible success.
Fortrade was founded with the primary goal of making online trading easy, profitable, and fun. This has allowed the company to reach many countries and offer its services in many other countries. Coolest part? The company is regulated by top-tier financial institutions.
Fortrade is different than other brokers due to the competitive spread they offer on most of their trading instruments. They also offer a variety of leverages and promotions to ensure traders have a great trading experience.
Trading can be difficult, especially for those just starting out. Fortrade integrates some of the most important technologies into their platform to make trading enjoyable for both newbies as well as experienced traders.
Fortrade: The pros and cons
Fortrade has many great things. We would like to highlight some of the drawbacks that Fortrade has, in addition to its many great selling points. Let’s get started, shall we?
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
| Pros | Cons |
| Fortrade allows cross-platform trading | Information on supported funding methods is sparse. |
| You can use their demo trading feature to sharpen your trading skills | Fortrade doesn’t currently offer US-based trading, so U.S. traders can’t use it. |
| The company is regulated by top-tier financial institutions, such as the FCA. | The withdrawal process for them is slow |
| These tools allow you to trade multiple trading instruments | Their spreads are not as competitive as those of other brokers in the market. |
| They provide excellent customer service. |
Is Fortrade secure?
Fortrade is safe. The company is also regulated by FCA making it a low-risk broker in forex and CFDs.
Fortrade is regulated in Australia by ASIC (Australia) and the Financial Conduct Authority (UK). If you’ve been around forex for a while you will know that ASIC and the FCA are the most active regulators of forex activity. It gives these financial institutions some legitimacy, as they regulate Fortrade.
Fotrade, as we already mentioned, has expanded its services into other countries such as Canada, Cyprus, Belarus and others. Fortrade is licensed by these financial institutions to offer its services.
Trading platform
Fortrade offers a great trading platform that is accessible via mobile and computer. They also offer support for the MetaTrader 4 platform. Let’s take a look at the details so you can understand exactly what we mean.
MetaTrader 4
No matter if you are just starting to trade or have been trading for some time, MetaTrader 4 is the best trading platform. Its outstanding features allow for seamless trading.
MetaTrader 4 gives traders access to more than 30 technical indicators. MetaTrader 4 allows traders to seamlessly access 24 graphical objects as well as multiple time frames in order to perform seamless technical analysis.
MetaTrader 4 supports multiple order types and automated trading. This makes it great for traders who wish to use expert advisors.
MetaTrader 4 can be used on desktops, and is compatible with Mac and Windows computers. However, it is also compatible for mobile devices and tablets. You can trade anywhere you are. MT4 Mobile is extremely easy to use. You can navigate the app even if you don’t have any tech skills.
Technical analysis is your passion, so you will be pleased to know that MT4 Mobile allows traders to use over 30 indicators to help predict market direction, such as Gann lines and Fibonacci Curves.
Web Fortrader
Fortrade is able to support third-party platforms such as MetaTrader 4 but also offers its own trading platform, the Fortrader Webtrader. The Fortrader Webtrader is a desktop trading platform that can be accessed from any computer with an Internet connection. The Fortrader WebTrader, like the MetaTrader 4 platform is simple to use and intuitive. Traders can track, analyze, and trade all from one location thanks to the one-stop-shop functionality.
Leverage
When looking for reliable brokers, traders pay attention to the type of leverage they offer. Fortrade is doing well in this area, to be fair. If you are just starting to learn about leverages, it might be of interest to you to know that leverage refers to a type of loan brokers offer traders. Leverage allows traders to take on more risk than their initial investment. While leverage can increase your chances of making greater gains, there are also some downsides. Before you decide which leverage option is best for your needs, it is important to fully understand the process.
Fortrade offers competitive leverages that meet the regulatory requirements of the jurisdictions where it operates. To find out what is available in your area, review the company’s leverage conditions before you decide to leverage.
- Fixed leverage levels have been introduced in Europe by recent regulatory changes. If you are in Europe, you will be able access x30 leverage on major currency pairs, as well as x10 for commodities and x2 for cryptocurrency. This regulation was created to protect retail traders. These leverages can only be used by FCA- and CySEC-regulated businesses.
- Fortrade, a broker licensed by the Australian Financial Authority ASIC, still offers leverage ratios of up to 1:400 to forex instruments. This leverage option allows Australian traders to trade with high leverage.
- Fortrade in Belarus offers forex clients leverages of up to 1:10
- Fortrade Canada can also offer leverage ratios of up to 1:150 for forex instruments.
- Fortrade allows you to trade shares, crypto, forex and commodities. Free Demo Account
Types of accounts
Fortrade only supports one type of account, unlike many other brokers. However, the options and conditions can vary depending on trading volume and deposits.
For traders who are just starting out, we recommend that you explore the Fortrade demo account feature. This will give you a hands-on view of how trading works before you go live. It is a mistake to jump into live trading without knowing how it works.
Instruments supported
Fortrade gives traders access to over 60 forex pairs and a range of instruments. Fortrade also supports precious metals like gold, copper and silver as well as platinum, palladium, and platinum.
You can also trade indices, commodities and cryptocurrencies on the platform.
Spreads and Commissions
Spread includes Fortrade’s commission. Fortrade’s average spread for major currency pairs is 2 pip. This applies to popular currency pairs such as EUR/USD or EUR/GBP. Their spreads may not be as low as those offered by top brokers such as eToro. However, they have reasonable spreads. Nasdaq’s spread is 1.5 pips, and the spread for precious metals such as gold is 45 pip.
Fortrade also charges overnight rollover fees as well as a $10 inactivity fee for accounts that are not active for at least six months.
Withdrawals and deposits
Fortrade makes it super simple to deposit and withdraw money. You can make deposits on your computer or smartphone. You can make withdrawals or deposits by simply visiting your account section.
Options for deposit
Fortrade offers many deposit options. Fortrade allows you to make deposits using credit/debit cards, netteller, bank transfers and Skrill.
Is there a minimum deposit for Fortrade?
Fortrade requires a minimum deposit of $100. This is great for anyone just starting out. However, we recommend that you fund your account with at least 500 dollars to get better results. Fortrade has the lowest minimum deposit requirement of any broker.
Withdrawals
Fortrade withdrawals don’t incur additional fees. They support multiple withdrawal options including credit/debit cards and PayPal. You can choose the one that works best for your needs.
Customer Support
Fortrade understands the importance of customer service and has created a support team that is available 24 hours a day to answer customers’ queries and complaints. It is simple to contact a customer support rep via multiple channels. If you need immediate assistance with any problem, the live chat support is a great option. You can also contact them via email or phone.
Education
Trading can be both risky and rewarding. For traders to be extremely successful, we encourage them to invest in education and other resources to improve their skills. Fortrade offers traders exclusive educational tools and resources that will give them an edge.
Fortrade offers everything you need, from technical analysis to the Trading Central option to access market data and organizing webinars.
You can also find great explanation videos and tutorial videos to help you better understand forex and CFDs.
Our verdict
Fortrade is not as well-known as eToro but they still offer exceptional services. Online trading is possible through the platform. It supports many instruments such as commodities, CFDs and forex, cryptocurrencies and indices. You can also benefit from a wide range of educational materials to improve your trading skills.
Fortrade has the lowest minimum deposit requirement ($100) compared to other brokers. Fortrade has a great customer support team available 24 hours a day. They allow traders to trade using the MT4 trading platform. However, they also have their own trading platform, Fortrader WebTrader. This makes trading easy and effortless.
Fortrade is a broker that will put you first.
