Fortrade

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	Official Website
Leverage	1:200
Minimum Deposit	$100
Regulation	FCA, ASIC, CySEC
Year Established	2013
Payment Methods	Bank Transfer, Credit/Debit Cards, Skrill, Neteller, PayPal
Trading Assets	Forex, Indices, Commodities, Shares, Cryptocurrencies
MT4	✅
MT5	❌
Spreads	Low
Average cost: EUR/USD	0.5 pips
Demo Account	✅
Islamic Account	✅
CopyTrading	❌
ZuluTrade	❌
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	❌
Contact Information	Email: [email protected], Phone: +44 20 3514 1251
Address	Michelin House, 81 Fulham Road, London, SW3 6RD, United Kingdom
Rating	★★★★☆ 4.4
Website	Official Website

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Pros and Cons

Unveiling Fortrade: A Detailed Analysis of Its Offerings and Client Support

Fortrade, a prominent online broker established in 2013, has gained considerable attention in the financial trading industry.

With its headquarters in London, the broker is recognized for its strong regulatory oversight and comprehensive range of trading services.

It caters to a broad spectrum of traders, from novices to those with intermediate experience, offering more than 2000 assets across multiple markets.

This detailed review aims to provide an extensive analysis of its offerings, including its regulatory framework, trading platforms, asset diversity, fees, account types, and more.

Regulation and Security

Regulatory Oversight

One of the most critical aspects of selecting a broker is ensuring that it operates under the strict regulations of reputable financial authorities.

Fortrade excels in this area, being regulated by several well-known regulatory bodies, including the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).

The FCA is particularly renowned for its stringent regulatory standards, which include requirements for brokers to maintain segregated client accounts.

This means that client funds are kept separate from the operational funds, safeguarding them in the event of financial difficulties.

Similarly, ASIC and CySEC enforce rigorous rules designed to protect customers and ensure the integrity of financial markets.

These regulations cover aspects such as capital adequacy, transparency, and the handling of client complaints.

By being regulated by these bodies, it demonstrates its commitment to maintaining a secure and transparent trading environment.

This level of regulatory oversight provides traders with confidence, knowing that the company adheres to high standards of financial conduct.

Security Measures

Security is paramount in online trading, and the company has implemented several measures to protect client data and funds.

The broker employs SSL (Secure Socket Layer) encryption, which is the standard technology for keeping internet connections secure and safeguarding any sensitive data that is being sent between two systems.

This includes personal information such as usernames, passwords, and financial details, ensuring that they cannot be intercepted by malicious parties.

In addition to encryption, Fortrade offers negative balance protection.

This feature is crucial, especially for those who are new to leveraged trading, as it prevents them from losing more money than they have deposited.

Negative balance protection is a mandatory requirement under the regulatory frameworks of FCA and CySEC, further emphasizing the adherence to client protection standards.

Furthermore, the company complies with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

These regulations require clients to verify their identity and address, which helps in preventing fraudulent activities.

The KYC process typically involves submitting government-issued identification and proof of residence documents, which Fortrade securely manages through encrypted channels.

Trading Platforms

Overview of Trading Platforms

The trading platform is the interface between the trader and the financial markets, and it plays a pivotal role in the trading experience.

The firm offers a range of platforms to meet the needs of different types of users, including the Fortrade WebTrader, the mobile app, and the widely popular MetaTrader 4 (MT4).

Each platform is designed to cater to specific trading preferences, from simplicity and accessibility to advanced technical analysis and automation.

Fortrade WebTrader

The Fortrade WebTrader is a browser-based platform that eliminates the need for downloading or installing any software.

This platform is designed with user-friendliness in mind, making it particularly suitable for beginners.

The interface is intuitive, allowing traders to easily navigate through different assets, access charting tools, and execute trades with just a few clicks.

One of the standout features of the WebTrader platform is its real-time price feeds, which provide investors with up-to-date information on market movements.

The platform also includes advanced charting tools, which support various technical indicators such as moving averages, Bollinger Bands, and the Relative Strength Index (RSI).

These tools are essential for individuals who rely on technical analysis to make informed trading decisions.

Customization is another strong point of the WebTrader.

Market participants can set up alerts for specific market conditions, manage their portfolios efficiently, and even execute one-click trades, which is particularly useful in fast-moving markets.

The platform’s simplicity does not come at the cost of functionality, making it a robust choice for those who prioritize ease of use.

Fortrade Mobile App

In today’s fast-paced world, the ability to trade on the go is a significant advantage.

Their mobile app, available for both iOS and Android devices, caters to this need by offering a seamless trading experience that mirrors many of the features available on the WebTrader platform.

The mobile app is designed to be intuitive, ensuring that traders can quickly access the tools they need to monitor the markets and manage their trades.

The mobile app offers real-time price updates, advanced charting capabilities, and a wide range of technical indicators.

It also supports risk management tools such as stop-loss and take-profit orders, which are crucial for managing trades while away from a desktop.

Push notifications are another valuable feature, alerting investors to significant market movements or changes in their trade status.

This ensures that clients remain informed and can act swiftly to capitalize on market opportunities or mitigate potential losses.

MetaTrader 4 (MT4)

For more experienced traders, Fortrade offers the MetaTrader 4 (MT4) platform, which is renowned for its advanced trading capabilities.

MT4 is one of the most widely used trading platforms globally, known for its robust features and flexibility.

It is particularly favored by those who engage in technical analysis or automated trading.

MT4 offers a wide range of technical analysis tools, including over 30 built-in indicators and multiple chart types.

Traders can customize the platform to suit their trading style, whether it involves analyzing multiple charts simultaneously or using advanced order types.

The platform’s support for automated trading through Expert Advisors (EA) is one of its key strengths, allowing users to implement and test trading strategies without manual intervention.

Another advantage of MT4 is its extensive back-testing capabilities.

Traders can use historical data to test their strategies under various market conditions, helping them refine their approaches before risking real capital.

The platform also supports several order types, including market orders, limit orders, and stop orders, providing everybody with greater control over their trades.

Comparative Table of Trading Platforms

Asset Offerings

Overview of Tradable Assets

Fortrade provides a diverse range of tradable assets, making it a suitable choice for those looking to diversify their portfolios across various markets.

The broker offers access to over 300 assets across multiple categories, including forex, commodities, indices, shares, and cryptocurrencies.

This wide selection allows investors to explore different markets, hedge their risks, and capitalize on various trading opportunities.

Forex Trading

Forex trading is one of the core offerings, with a broad range of currency pairs available.

The broker offers access to over 50 currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.

This variety allows people to engage in both stable and volatile markets, depending on their risk appetite and trading strategies.

The spreads on forex pairs are competitive, with the EUR/USD pair typically having an average spread of around 0.5 pips.

This low spread is particularly advantageous for day traders and scalpers who aim to profit from small price movements.

Fortrade also provides leverage of up to 1:200 for forex trading, allowing investors to amplify their positions.

However, it is essential to use leverage cautiously, as it can significantly increase both potential profits and potential losses.

Commodity Trading

Fortrade offers a range of commodities, including precious metals, energy products, and agricultural commodities.

Precious metals such as gold and silver are popular among people looking to hedge against inflation or diversify their portfolios.

Energy products like crude oil and natural gas are also available, offering opportunities for users to speculate on global energy markets.

Commodities can be traded through CFDs (Contracts for Difference), which allows market participants to speculate on price movements without owning the underlying assets.

This approach provides flexibility, as traders can take both long and short positions, profiting from both rising and falling markets.

Their competitive spreads and low margins make commodity trading an attractive option for those interested in this asset class.

Indices Trading

For those interested in trading broader market trends rather than individual stocks, the broker offers access to 70 global indices.

These include major indices such as the S&P 500, NASDAQ, FTSE 100, and DAX 30.

Indices trading allows speculating on the overall performance of a stock market or sector, providing opportunities to benefit from market trends or hedge against market volatility.

Leverage is also available for indices trading, and Fortrade offers competitive spreads that make this type of trading accessible to a wide range of users.

The ability to trade indices through CFDs further enhances flexibility, allowing clients to enter and exit positions quickly based on market conditions.

Shares Trading

Fortrade provides access to individual shares from major companies across various industries, including technology, healthcare, finance, and energy.

Traders can buy and sell shares of companies like Apple, Amazon, Google, and Tesla, among others.

This allows everybody to speculate on the performance of specific companies, making it possible to benefit from their successes or declines.

Shares are traded through CFDs, which means investors do not own the actual shares but can still profit from price movements.

This method allows for greater flexibility, as individuals can take advantage of both bullish and bearish market conditions.

However, it is important to note that CFD trading on shares does not entitle traders to dividends or other shareholder benefits.

Cryptocurrency Trading

This trading platform also offers cryptocurrency trading, catering to users interested in the rapidly growing digital currency market.

The broker provides access to major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin.

Cryptocurrency trading is known for its high volatility, offering the potential for significant profits, but it also comes with substantial risk.

Traders can trade cryptocurrencies through CFDs, allowing them to speculate on price movements without owning the underlying digital assets.

Leverage is available for cryptocurrency trading, though it is typically lower than that offered for other asset classes due to the inherent volatility of digital currencies.

Its competitive spreads and user-friendly platforms make it a viable option for investors looking to gain exposure to this emerging market.

Comparative Table of Asset Offerings

Fees and Costs

Overview of Fees

Understanding the fee structure is crucial, as it directly impacts trading costs and profitability.

Fortrade operates on a commission-free model, meaning traders do not pay direct commissions on their trades.

Instead, the broker earns revenue through spreads, which is the difference between the bid and ask prices of an asset.

This model simplifies the cost structure, making it easier to calculate trading expenses and ensuring transparency.

Spreads

Spreads are generally competitive, though they can vary depending on the asset being traded and market conditions.

For example, major forex pairs like EUR/USD typically have spreads starting around 0.5 pips, which is competitive compared to others.

The broker also offers low spreads on other asset classes, including commodities, indices, and shares, making it an attractive option for those looking to minimize their trading costs.

Spreads can widen during periods of high market volatility or low liquidity, which is a standard practice across the industry.

Clients should be aware of this when planning their trades, especially during major economic announcements or market openings.

Overnight Financing (Swap) Fees

Fortrade charges overnight financing fees, also known as swap fees, for positions that are held overnight.

These fees are either charged or credited to the account, depending on the direction of their trade and the interest rate difference between the two currencies involved in the trade.

The broker provides transparent information about swap fees on its platform, and traders can view the applicable fees before placing their trades.

It also offers tools to calculate potential swap fees, allowing investors to make informed decisions about holding positions overnight.

These fees are an essential consideration for people who hold positions for extended periods, as they can accumulate over time.

Inactivity Fees

Fortrade imposes an inactivity fee on accounts that have been dormant for 180 days or more.

The fee is charged to cover the costs of maintaining an account that is not being actively used.

While inactivity fees are common, it is essential for traders to be aware of this charge and to ensure they maintain some level of activity in their accounts to avoid unnecessary fees.

The inactivity fee is typically deducted from the account balance until the balance is depleted, or the account becomes active again.

Users who do not plan to trade for an extended period may consider withdrawing their funds to avoid incurring this fee.

Deposit and Withdrawal Fees

Fortrade does not charge fees for deposits or withdrawals, which is a significant advantage.

However, traders should be aware that third-party fees may apply, depending on the payment method used.

For example, banks or payment processors may charge fees for wire transfers, currency conversions, or other transactions.

The broker supports many payment methods, including bank transfers, credit/debit cards, Skrill, Neteller, and PayPal.

The time it takes for funds to be credited to or withdrawn from an account can vary depending on the payment method and the bank.

While the firm aims to process withdrawals promptly, delays can occur, particularly if additional verification is required.

Account Types

Overview of Account Types

Fortrade offers a straightforward account structure, making it easy for clients to choose an account that suits their needs.

The simplicity of the account offerings is advantageous, particularly for novices who may find it challenging to choose between multiple account types with varying features.

Standard Trading Account

The standard trading account is suitable for most users and provides access to all available assets and trading platforms.

This account type offers competitive spreads, leverage options, and access to the full range of trading tools.

To open a standard trading account, a minimum deposit of $100 is required.

This low entry point makes it accessible to a wide range of traders, including those who are new to the financial markets.

The account also supports various base currencies, including USD, EUR, and GBP, allowing investors to choose the currency that best suits their needs.

The standard trading account is versatile, catering to both casual traders and those who engage in more frequent trading activities.

It provides all the necessary tools and resources to analyze markets, execute trades, and manage risk effectively.

Islamic Account

Fortrade also offers an Islamic account option, designed to comply with Sharia law.

This account type is tailored for Muslims who wish to engage in forex and CFD trading without violating religious principles.

The Islamic account does not incur swap fees, which are considered a form of interest and are prohibited in Islamic finance.

The Islamic account provides access to the same range of assets and trading platforms as the standard account.

The main difference lies in the fee structure, which has been adjusted to comply with Islamic law.

This account type is an essential offering for people who require a Sharia-compliant trading solution, and its commitment to accommodating diverse client needs is evident in this provision.

Demo Account

Fortrade provides a demo account, an invaluable tool for individuals who wish to practice their trading strategies without risking real money.

The demo account is preloaded with $10,000 in virtual funds and offers access to the same trading platforms and tools as a live account.

Using a demo account is an excellent way for novices to familiarize themselves with the platform, test different trading strategies, and gain confidence before transitioning to a live account.

It also allows experienced users to experiment with new strategies, test automated trading systems, or evaluate the services in a risk-free environment.

The demo account is available for a limited time, typically 14 to 30 days, depending on the region.

However, clients can request an extension if they need more time to practice or test their strategies.

Comparative Table of Account Types

Trading Tools and Educational Resources

Trading Tools

Fortrade offers a range of trading tools designed to enhance the trading experience and help investors make informed decisions.

These tools are available across all trading platforms and are accessible to all account holders.

Charting Tools

It also provides advanced charting tools that allow everybody to analyze market trends and identify potential trading opportunities.

The platform supports multiple chart types, including line, bar, and candlestick charts, each of which can be customized to display different timeframes and indicators.

Technical indicators such as moving averages, Bollinger Bands, and Relative Strength Index (RSI) can be applied directly to charts, providing real-time insights into market conditions.

Traders can also use these tools to conduct in-depth technical analysis, which is crucial for making informed trading decisions.

Economic Calendar

The economic calendar is another valuable tool offered.

This calendar provides a schedule of upcoming economic events, such as central bank meetings, employment reports, and GDP releases, which can impact financial markets.

Investors can use the economic calendar to stay informed about market-moving events and plan their trades accordingly.

The calendar includes detailed information about each event, including the expected impact on the markets, previous data, and analyst forecasts.

Risk Management Tools

Fortrade emphasizes the importance of risk management and provides several tools to help individuals manage their risk effectively.

These tools include stop-loss and take-profit orders, which allow market participants to set predetermined exit points for their trades.

By using these orders, traders can limit their losses and lock in profits automatically.

The platform also supports trailing stop orders, which adjust the stop-loss level as the market moves in the trader’s favor.

This tool is particularly useful for those who want to protect their profits while allowing their trades to run.

Additionally, its margin calculator helps investors understand their margin requirements before entering a trade, ensuring they are aware of the risks involved.

Educational Resources

Fortrade offers a comprehensive range of educational resources designed to help traders improve their skills and knowledge.

These resources are accessible to all account holders and cover a wide range of topics, from basic trading concepts to advanced strategies.

Trading Guides

Fortrade’s trading guides provide detailed explanations of various trading topics, including forex, CFDs, commodities, and cryptocurrencies.

These guides are written in clear and concise language, making them accessible to users with different levels of experience.

The guides also include practical examples and tips, helping people apply what they have learned to real-world trading situations.

Topics covered include technical analysis, fundamental analysis, risk management, and trading psychology.

These guides are an excellent starting point for novices and a useful refresher for more experienced traders.

Webinars and Video Tutorials

The company regularly hosts webinars and provides video tutorials on several trading topics.

These sessions are led by experienced traders and market analysts, offering insights into market trends, trading strategies, and the use of the trading platforms.

Webinars are interactive, allowing participants to ask questions and engage with the presenters.

This format is particularly beneficial for those who prefer a more hands-on approach to learning.

Video tutorials, on the other hand, provide a more flexible learning option, allowing traders to watch and learn at their pace.

Market Analysis and News

Staying informed about the latest market developments is crucial for successful trading.

The company provides regular market analysis and news updates, helping people stay abreast of economic events, market trends, and potential trading opportunities.

The broker’s market analysis is conducted by a team of experienced analysts who provide insights into major currency pairs, commodities, indices, and shares.

This analysis is available directly on the platform, as well as through email updates and push notifications.

By staying informed, everybody can make more informed decisions and react quickly to changing market conditions.

Comparative Table of Educational Resources

Customer Support and Service

Customer Support Channels

Fortrade offers multiple channels for customer support, ensuring that clients can get help when they need it.

The firm provides support via email, phone, and live chat, catering to all preferences.

Customer support is available in multiple languages, reflecting their global client base.

The live chat feature is particularly popular, as it provides instant access to support agents who can assist with a wide range of queries, from technical difficulties to account management.

The chat service is accessible directly from the website and trading platforms, making it convenient for customers to get help without interrupting their trading activities.

Phone support is another reliable option, especially for people who prefer speaking directly with a representative.

Fortrade provides several international phone numbers, allowing clients from different regions to contact the support team without incurring high international call charges.

Email support is also available, with a typical response time of 24 hours.

Quality of Support

The quality of customer support is generally high, with many individuals praising the responsiveness and professionalism of the support team.

Support agents are knowledgeable about their services and trading platforms, ensuring that they can provide accurate and helpful information.

Fortrade also offers a comprehensive FAQ section on its website, covering a wide range of topics, from account setup to trading platform features.

This resource is particularly useful for clients who prefer to find answers on their own without contacting support.

Additional Services

In addition to standard customer support, Fortrade offers several additional services designed to enhance the trading experience.

These include personalized account management for higher-tier clients, where dedicated account managers provide tailored advice and assistance.

This service is particularly beneficial for those who require more in-depth support or who are managing larger portfolios.

Fortrade also provides an economic calendar and market analysis tools directly on its platform, helping everybody stay informed about market events and trends.

These tools are updated regularly, ensuring that investors have access to the latest information to inform their trading decisions.

Summary of Key Features

Overview

Fortrade stands out as a well-regulated broker offering a diverse range of assets and trading platforms.

Its user-friendly platforms, comprehensive educational resources, and robust customer support make it an excellent choice for both novice and intermediate traders.

The competitive spreads and commission-free model further enhance its appeal, making it a cost-effective option for users across different markets.

Summary Table of Key Features

Conclusion

Fortrade offers a comprehensive trading experience that caters to a wide range of traders.

Its strong regulatory oversight, user-friendly platforms, diverse asset offerings, and robust educational resources make it a suitable choice for users at all levels.

Their commitment to transparency, security, and customer satisfaction is evident in its services and support, positioning it as a reliable partner in the financial trading landscape.

Whether you are a novice looking to learn the ropes or an experienced trader seeking advanced tools and market access, Fortrade provides the resources and support needed to succeed in the competitive world of online trading.

Its emphasis on security, education, and customer service ensures that clients can trade with confidence and make informed decisions in the financial markets.

FAQ

Resources

• Official Website: ForTrade
• Facebook: Facebook
• Twitter: Twitter
• YouTube: YouTube
• Phone: +44 204 571 7564

User Reviews

Article written, edited and reviewed by

Adam Rosen

Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.

Andrew Blumer

Andrew Blumer is a finance pro who's got money matters down to a science.
Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
But hold on, there's more to this financial nerd.
Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
Oh, and did we mention? He's the manager of Brokfolio's website and an expert in online brokers. So, if you're diving into the world of trading, Andrew's your go-to guy.
For more on his financial escapades, head over to his LinkedIn profile. Trust us, his journey is worth a read!

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Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
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Currently Emily's holding the senior editor crown, keeping tabs on content from our awesome team.

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Last updated: September 5, 2024