Fortrade Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Another brokerage company, Fortrade, was founded in 2011, but it wasn't until
2014 that it received its license from the Financial Conduct Authority (FCA) in
the United Kingdom. Fortrade is a company that deals in foreign exchange. The
objective of the platform is to offer CFD (contracts for difference) and forex
trading platforms to a diverse range of customers located in different parts of
the world (except for a few countries where it is not regulated). In order to
get a license from the Financial Conduct Authority (FCA), every broker is
required to meet a number of qualifying standards that are among the most
stringent in the industry, as well as the requirement that they must present
proof that they are financially stable. As a result, the fact that Fortrade has
began conducting business as a CFD broker indicates that the company has
unquestionably fulfilled all of the prerequisites necessary to establish itself
as one of the most successful brokerage businesses. Additionally, in order for
brokerage companies to be eligible for an FCA license, they are required to
maintain a minimum of €730,000 in liquid assets at all times. This sum must be
maintained separate from the cash contributed by customers, which must be held
in a separate account. Visit Fortrade
The fact that the trading platform Fortrade runs in 15 distinct languages makes for a trading environment that is uncomplicated and easy to use for both inexperienced and seasoned market participants alike. CFDs trading provides chances for traders to speculate on the price of an asset even if they do not own the accounts themselves. Traders may do this even if they do not own CFDs.
The purpose of this Fortrade review is to make the wonderful capabilities of the Fortrade platform more easily accessible to traders, and the discussion that follows is organized to facilitate that goal. Users will acquire a better understanding of whether or not they should invest in such a brokerage business after reading Fortrade reviews, as well as whether or not this brokerage platform meets their criteria, after reading Fortrade reviews.
Fortrade makes available for trading a wide variety of assets and financial instruments, including currency pairings, equities, agricultural goods, energy products, precious metals, and treasuries. This, in turn, broadens the scope of online trading, which is something that brokerage businesses like Fortrade hope to do in the future. Users get access to over 70 currency pairings and a great deal more information.
The customers of Fortrade are eligible to take advantage of yet another remarkable feature such as this one. At Fortrade, there is no discrimination made based on the account kinds, and as a result, there is no need to register different accounts and make deposits individually. This is according to evaluations of Fortrade that were found online. In point of fact, consumers do not receive any sort of bonus or benefit for making further deposits. Every trader on Fortrade, no matter how much experience they have or how recently they have started trading, is given the same level of respect and consideration by virtue of the fact that this function is available.
This function is something that can only be provided by legitimate and well regarded forex brokers. Therefore, if the presence of this feature is taken into consideration as a factor in determining authenticity, then Fortrade is undeniably a legitimate broker. To open a demo account, you don't need to put any money down, but you still have access to the genuine trading experience possibilities. When clients are just starting out in trading, this helps to reduce the likelihood of their making unwarranted losses. The trader is exposed to real-time trading with all of the necessary trading tools that are required in order to conduct a transaction while using the Demo account, despite the fact that the Demo account is only "virtually financed." This presents the traders with a priceless opportunity to hone their trading skills without putting their own money on the line.
This is possibly the element that the traders find to be the most useful in terms of convenience. The brokerage company has introduced a free trading alternative that can be accessed through the Fortrader mobile application feature, which can be downloaded quickly and easily from the Apple App Store or the Google Play Store. As a result, customers no longer need to transport their computers wherever they go, which makes trading whenever they want, from anywhere they want, an extremely simple and comfortable process. They may effortlessly place their trades by just swiping their mobile phones in the appropriate direction. This program may also be accessed using other tablet computers, such as the iPad.
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This particular online trading platform has a minimum deposit requirement of $100, which must be placed into the trader's account before the transaction can be initiated. This serves the function of the working money that is required for every trade, including the online trading of CFDs as well. This is essential for all trades.
Fortrade places an emphasis on continuing the professional development of its dealers. The information that there is a distinct area on the official website of Fortrade is something that we have learned through reading the Fortrade reviews. It is devoted only to the purpose of educating users of all experience levels about various aspects of trading, including both novices and seasoned professionals. In order to acquaint the investors with the trading platform, the brokerage business will on occasion organize a number of webinars covering a variety of topics. There are also provisions for ebooks and other trading course materials, which the user can readily access from the platform itself. These resources are designed to help users familiarize themselves with how online Forex and CFD trading takes place.
The procedure of signing up to use Fortrade is really straightforward and uncomplicated. According to the findings of the Fortrade review 2022, the entire procedure may be finished in a matter of minutes provided the appropriate processes are followed. The only thing left for the traders to do is go to the Fortrade webpage, where they will find a registration form, and fill it out by providing some personal information. After that, they will be finished. Verification of documents is not necessary in the very first phase of the process. As the following stage toward beginning online trading, it is necessary for the investors to make a minimum deposit of cash into their accounts.
Excellent client support: If an online broker is not supported by a solid customer support team that can be reached at any time of the day to handle concerns experienced by clients while they are working on the platform, then that broker cannot be trusted. Fortrade's customer service is second to none, and agents are available through phone, email, live chat, and other mediums around the clock to answer any questions or resolve any issues. The customer care team is highly active on social media sites, so even if all of these other channels fail, they will still be there to help. As a result, customers may also post their questions in the comment sections, where they will receive a fast response because the customer service personnel also read such parts on a regular basis.
Advantages of putting your trust in Fortrade: In this section of the Fortrade reviews, we are going to talk about the reasons why consumers should trade via the Fortrade forex trading platform, as well as the benefits that this platform offers that are not normally offered to other platforms. To answer the question, why Fortrade?
Plain and simple business: Both trading CFDs and Forex may be quite confusing due to the vast number of different trade alternatives and digital resources that are currently available. This is especially true for investors who have never engaged in online trading or utilized trading software such as Fortrade in the past. However, with Fortrade, things become much simpler because to its user-friendly features, which, according to Fortrade reviews, allow even inexperienced users to enjoy the benefits of online trading without the need for any worry or difficulty. The platform's utilization of technology that is not only user-friendly but also of the highest quality provides investors with a potent trading environment in which traders are able to feel at ease and make their trades in the most hassle-free manner possible.
Enables the traders to expand their businesses: The success of Fortrade's clients is just as important to the company as its own. As a result, this platform gives all of the necessary materials that are required to educate the users on the trading techniques, market trends, the process of making trades so that they return the highest profits, etc. Fortrade also provides ebooks and other materials on its website, all of which are absolutely free of charge so that investors can acquire them directly from the platform itself. The company also organises trade webinars, so investors may take advantage of those whenever they want.
Platform that is trustworthy and safe: When it comes to companies that provide online brokerage services, the only thing that matters is whether or not the company can be trusted. Due to the fact that Fortrade is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, the National Bank of the Republic of Belarus (NBRB), and IIROC, this has never been an issue for the broker. In addition to this, it is controlled by Fort Securities Australia Pty Ltd (Trading as Fortrade Australia), which is a company that is licensed and controlled by the Australian Securities and Investments Commission (ASIC). As a result, provides a legitimate platform that cannot be called into doubt. As a consequence of this, the traders are able to do their business on this platform with the knowledge and assurance that their financial resources would be protected at all times.
Because Fortrade does not require large deposits in order to get started on the platform, this encourages a large number of customers to give it a try on the Fortrade platform, even if they have a very limited knowledge of CFD trading and Forex trading. Fortrade does not require high deposits in order to get started on the platform. The minimum deposit, reasonable spreads, high leverage ratios such as 1:200, and incredible promotional offers and incentives are just some of the incredible perks that Fortrade provides for its clientele. Additionally, the trading platform does not impose any commission fees, thus the traders' overall costs are significantly reduced.
Fortrade provides its investors unrestricted access to trade at any time of day or night and from any location. Because of the proliferation of current technology, gaining access to the markets at any time and from any location is no longer a difficult task. Fortrade has demonstrated that this is no longer the case, as evidenced by the Fortrade review. This fully scalable trading platform gives customers the ability to monitor markets for global derivatives and financial services and then capitalize on price fluctuations whenever and wherever they want.
Even a single millisecond may make a tremendous difference in the amount of money a trader makes or loses when they are participating in online Forex and CFD trading. Therefore, internet brokerage businesses should be able to offer a high-speed transaction in order to facilitate the successful placement of trades. Investors may have peace of mind knowing that their transactions will be processed quickly while using Fortrade. The fact that orders are processed immediately after they are received, as well as the fact that users enjoy full control over their portfolios with just a single swipe on their mobile phones, is the most advantageous aspect of trading through Fortrade, as we learn from reading reviews of the platform.
Is this a fraudulent Fortrade platform? No, Fortrade is not a fraud. As such, it is absolutely authentic in every respect. The validity of Fortrade is ensured by the fact that it possesses a license issued by the Financial Conduct Authority (FCA), which is among the most stringent regulatory organizations in the UK. In addition, authorized brokers are not permitted to ever influence market pricing; therefore, Fortrade's status as a regulated broker demonstrates that the company is operating in a completely ethical manner. This is honored by Fortrade whenever any withdrawal request is transmitted to them. It is also a reality that ForTrade's regulated status would be terminated immediately in the event that they broke any of the regulations governing their industry at any point in time.
For the purpose of keeping their customers' cash safe and secure, Fortrade only works with tier-1 financial institutions and places all payments that are funded to the Fortrade FX trading platform in a separate bank account.
When will Fortrade begin processing withdrawal requests? On the Fortrade forex trading platform, the length of time it takes to execute withdrawals depends on the trading mode of the withdrawals as well as the amount being withdrawn. The money that was removed from the trader's account will often reflect itself in the account after a period of two weeks has passed.
What are the steps involved in taking money out of Fortrade? It's not too difficult to take money out of your Fortrade account when you need it. The only thing that the investors need to do is log in to their various Fortrade accounts by providing the essential credentials that they used while filling out the registration form. This is all that is required of them. Next, the trader has to click on the drop-down menu located on the right-hand side of the screen and then click on the "withdrawal" option. Once in this section, the trader needs to indicate which form of withdrawal to pick as well as say the amount that he wants to withdraw. It may be necessary for this part to request a small amount of additional account information from the trader in order to verify the specifics of his trading account with the details that have been entered. The processing period for the withdrawal would vary proportionally, depending on the mechanism of transfer that was used. Some accounts belonging to ordinary investors lose money as a result of trading CFDs with this supplier. Therefore, it is highly recommended that you think about whether or not you can afford to incur the significant danger of losing your money.
Where Do I Start Using Fortrade's Trading Platform? To start trading with Fortrade, the first thing that investors need to do is get themselves registered on the Fortrade platform. This process is very straightforward and takes fewer than ten minutes to finish all of the necessary procedures. Traders are need to supply additional information in order to use the Fortrade platform because it is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. This includes uploading a picture identification that may be used later to validate their data on the platform.
The traders need to sign up on the official homepage of Fortrade, which then directs them to a form that needs to be filled out by feeding in some personal details like the full name of the trader, the full address, a valid email address, a valid phone number, and so on. Our specialists learn from Fortrade reviews that registration is completely free of charge. In order to take advantage of this benefit, traders need to sign up. These specifics must to be protected with a robust password. After the information has been entered, the investors do not need to provide any scanned papers that need a photo, such as a passport, utility bills, or a bank statement. But you should check to make sure that the bank statements and the utility bills are as fresh as possible and no more than six months old.
Once the trader's account has been successfully created, an email address that was automatically generated for him will be supplied to him so that he may confirm his registration on the Fortrade platform. Following this step, the trader is required to make a minimum deposit of certain cash, which are to be used as the working capital in order to begin trading. For this purpose, the trader may employ any one of the several methods of payment that are permitted by Fortrade, including credit cards, bank transfers, wire transfers, Neteller, Skrill, and so on. Traders also have the option of signing up for a demo account, which is virtually financed with $10,000 and may serve as a working capital for investors without putting any of their own real money at danger, regardless of how little that amount may be. This not only reduces the likelihood of experiencing a loss, but also gives users the opportunity to participate in real-time trading, giving them the opportunity to become familiar with the fundamentals of genuine trading before venturing out into the world of online trading.
Now that they have funded their accounts, the traders have the option to begin trading on the Fortrade platform using the money that they have available in their accounts. However, in order to place a trade, the users must first select the criteria according to their own trading preferences; if these preferences differ from one another, the users must adjust their criteria appropriately. The broker will try to match the criteria with the possibilities and circumstances that are currently accessible on the market. When they are found to satisfy the conditions that have been established, a deal is executed on behalf of the clients, and profit is generated proportionally. When the users are ready to cash out their earnings, all they have to do is complete out the necessary withdrawal paperwork and select their preferred method of payment. In general on Fortrade, it takes two weeks from the time a withdrawal request is submitted for the processing and reflection of such request in the account of the trader. This is something that the investors occasionally complain about.
As a result of carrying out our Fortrade review, we came to the realization that Fortrade provides a trading platform that is well-designed with the end goal of simplifying, accelerating, and enhancing the user experience. It offers the appropriate environment for both inexperienced investors and seasoned traders to do their business on. Beginners are drawn to this platform by its low deposit fees, vast number of digital resources from which to gain trading insights, free demo account through which they can practice trading without risking their own money, etc., while more experienced traders benefit from the numerous trading solutions that this platform provides.
The majority of brokerage firms lack a crucial quality that this platform possesses, which is the ability to aid in the expansion of their customers' businesses. This platform has reached remarkable heights to this day in large part due to the fact that it places a higher priority on the profits and well-being of its customers than it does on its own earnings. Traders are able to do business with complete peace of mind on this platform since Fortrade offers a trading environment that is safe, licensed, and controlled by the Financial Conduct Authority (FCA). The fact that this platform does not result in any conflicts of interest thanks to its relatively high level of transparency, including the absence of any hidden commissions or fees, makes Fortrade the most valuable component. Some accounts belonging to ordinary investors lose money as a result of trading CFDs with this supplier. Therefore, it is highly recommended that you think about whether or not you can afford to incur the significant danger of losing your money.
Is it possible to utilize Fortrade before really shelling out money for it? Before making a real-money investment with this broker, you are welcome to make use of the demo account option that is available on this platform. For this purpose, the customer will need to open a demo account on the Fortrade platform. Although the demo account does not contain any actual funds, it does provide the user with the opportunity to participate in real-time trading. This allows the user to gain some understanding of how online trading is conducted without the need to risk any actual cash.
What kinds of payments does Fortrade take, and how can I find out more about them? According to the preferences of the merchants, Fortrade is able to process a variety of payment methods. Credit cards, bank transfers, electronic wallets, Neteller, Skrill, bank wire transfers, MasterCard, and Visa are only some of the several types of payment methods that are accepted.
How many different languages are supported by Fortrade? Fortrade has support for a total of 15 different languages, including English, Spanish, Croatian, German, French, Polish, Italian, Slovene, Polish, Slovene, Dutch, Portuguese, Russian, Arabic, Swedish, Albanian, and Macedonian.
Is it common knowledge that Fortrade is a reputable broker? The highest level of financial authorities, such as the Financial Conduct Authority or FCA, agree that Fortrade deserves its reputation as a reliable broker. It also enables trading in forex and CFDs.
Is it possible to earn money through Fortrade? According to the findings of our Fortrade investigation, the Fortrade platform is, in fact, designed to generate financial gains. The official website of Fortrade features a number of client endorsements that give the impression that those customers are quite pleased with the services that are provided by Fortrade. For this purpose, users need to educate themselves properly and make extensive use of the demo account to prepare the actual trading tactics they will use in their real accounts. This will significantly increase the users' chances of making enormous gains. On the other hand, it is strongly advised that customers never trade with funds that they cannot afford to lose.
Is Fortrade the one that creates the market? No, Fortrade is only a brokerage business and not a market maker. A market maker is "an entity that can speed up trading by purchasing the stocks and commodities of the buyers even when they are not lined up," which is not something that Fortrade is doing at all. The definition of a market maker goes like this: "an entity that can speed up trading by purchasing the stocks and commodities of the buyers."
Fortrade is a derivatives broker operating out of the United Kingdom that is
committed to provide its customers with a satisfying trading environment. It
provides its customers with two different trading platforms: one for trading
foreign exchange (Forex), and the other for trading contracts for difference
(CFD) (CFDs). After completing registration, traders with Fortrade have the
option of utilizing either the broker's Web Trader or the widespread MetaTrader
A user-friendly website and top-tier regulatory monitoring are just two of the many benefits that Fortrade provides to its clientele, which includes both inexperienced and seasoned investors.
On the Fortrade platform, you may trade seven of the most important currency pairs in forex, in addition to minor and exotic pairings.
The most important currency pairs are the following: AUD/USD; EUR/USD; GBP/USD; NZD/USD; USD/CAD; USD/CHF; and USD/JPY.
Further on, Fortrade enables customers to engage in CFD trading on 19 of the most important indexes. CFDs on shares, as well as CFDs on precious metals such as copper, gold, palladium, platinum, and silver, are included in this category. Brent oil, crude oil, gasoline, heating oil, and natural gas are all examples of the energy products that are available as CFDs. Investors also have the option of diversifying their holdings with agricultural commodities such as wheat, sugar, and soybeans.
Because Fortrade is one of the most widely used online trading platforms, buying and selling assets on that platform ought to be quite simple for the majority of its customers. Fortrade is a trading platform that allows users to take Long and Short positions on a variety of investment products with just one click. These options are available across a variety of desktop and mobile trading platforms. To begin, if you are using a personal computer, you may trade on the Web Fortrader without having to download any supplemental software in order to do so.
When it comes to foreign exchange trading, the WebTrader4 is an adaption of the MT4 platform that makes trading from a desktop device more easy. Naturally, Fortrade also offers a server hosting for the MetaTrader4 trading platform, which can be accessed from a desktop computer as well as mobile devices.
You may use the Fortrade app on your iOS or Android smartphone if you don't
like mobile trading on the MT4 platform. This app is available for both
platforms. The performance of the Mobile Fortrader app is quite similar to that
of the desktop version, and the app provides access to the majority of the
platform's offerings in terms of both goods and services.
Because it provides a comprehensive list of resources from which novice investors can get significant value, Fortrade is perhaps one of the most effective investment platforms available online. You may take use of Fortrade's Trading Academy, which provides a variety of resources, including e-books, beginner courses, advanced trading courses, and more. In addition, Fortrade hosts frequent trading seminars and maintains a trading center, both of which allow seasoned investors to provide their insightful perspectives.
In addition, Fortrade provides a wide variety of helpful tools, such as a currency converter, a calculator for calculating exchange rates, a calculator for determining the value of a pip, and many more. These tools are particularly useful for novice and intermediate traders. In conclusion, through the website's Market Analysis area, you are able to obtain all of the pertinent news on the present state of the market, a summary of data from the past, as well as an economic calendar that has just been brought up to date.
Fortrade's customer service hours are Monday through Friday, 9 a.m. to 9 p.m., and it is available through phone and email. Traders can file a ticket and obtain assistance by filling out a brief web form on the site, or they can leave their phone number to receive a call back after business hours.
The following list of languages, among others, are supported on the website: Albanian; Arabic; Croatian; Dutch; English; French; German; Italian; Macedonian; Polish; Russian; Slovenian; Spanish; and Swedish.
The team that provides customer service is also able to provide assistance in the majority of the languages listed above. Despite this, Fortrade is a reasonably user-friendly investment platform, and as a result, we highly doubt that novice investors will encounter any significant challenges.
Because Fortrade is used by millions of investors all over the world, the company has a responsibility to ensure that the experience provided is unparalleled. This includes the banking alternatives that are available. In terms of deposits, you may add money to your account by using the majority of credit and debit cards, making a transfer to a traditional bank, or using an electronic wallet service such as Neteller or Skrill.
You may get started trading on the Fortrade platform with as little as $250, despite the fact that the company suggests a minimum investment of at least $500. It is important to remember that although Fortrade processes all deposits promptly, there may still be a short wait depending on the payment processor you choose.
When compared to the range of banking choices available for deposits, the list of banking options available for withdrawals is significantly more restricted. Even though it is one of the more time-consuming withdrawal methods, the vast majority of Fortrade traders decide to take advantage of wire transfers when it comes time to cash out their profits. The processing of wire transfers typically takes no more than one week, but in exceptional circumstances, this might take as much as 15 working days.
You also have the option of making a direct withdrawal to your credit card, provided that you are withdrawing to the same credit card that you used to make the initial deposit. You may withdraw your profits using a variety of methods, including wire transfers, credit and debit cards, Neteller, and Skrill.
Because Fortrade has been operating online for some time now, it has established for its clientele an environment that is secure and trustworthy for financial transactions. To begin, Fortrade has been granted permission to operate by both the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), which is the governing body in Cyprus. Because Fortrade is in possession of these two licenses, you can rest certain that it adheres to the highest standards of good business conduct, which means that your personal information and money are secure there.
In addition, the Fortrade website is protected by an SSL encryption technology, which ensures that any personal information you want to give will remain confidential. Users can rest assured that they will have a risk-free experience thanks to the SSL encryption, which ensures that their data will remain safe from prying eyes and any potential assaults from other parties.
Overall, Fortrade is a great online broker that meets the needs of the vast majority of traders and excels in practically every category. It is still one of the greatest online investing platforms you might discover, despite the fact that there are a few minor aspects that may be improved.
To the untrained eye, the number of investment products may even appear to be overwhelming; nonetheless, developing a portfolio that is sufficiently diversified can result in significant financial gains. At the end of the day, we came to the conclusion that Fortrade is one of the greatest online brokerages that are now available online.
Fortrade is a registered broker that focuses on making trading easy and accessible for everyone. They provide user-friendly platforms with a big quantity of instructional resources and a broad market analysis area. Fortrade was established in 2004. The broker provides clients with a wide choice of user-friendly deposit and withdrawal options, in addition to a sizable inventory of different trading products. The trading conditions offered by Fortrtade include low spreads, the absence of commission costs, and lightning-fast transaction execution rates.
Fortrade is an online trading broker that provides individual and institutional traders from all over the world with round-the-clock market access to hundreds of trading instruments, including foreign exchange (Forex), commodities, cryptocurrency, stocks, shares, indices, metals, energies, exchange-traded funds (ETFs), and contracts for difference (CFDs).
Fortrade was founded in 2013, and they take great satisfaction in the fact that they are a trustworthy, reputable, safe, and transparent broker with a significant online trading community. They want to make trading easier and more pleasurable for people of all experience levels by providing solutions that are uncomplicated yet effective.
Fortrade provides its customers with a wide variety of instructional resources and trading tools, with the goal of assisting customers in becoming more knowledgeable and skilled traders. There is a daily market analysis available, as well as video lessons, trading courses, webinars, eBooks, and more.
In addition to providing their own own online, mobile, and desktop platform, Fortrade also makes the popular MetaTrader 4 (MT4) platform available to their customers. The platforms include user-friendly interfaces that make online trading quick, easy, and convenient even for inexperienced as well as experienced market participants. In addition to that, they incorporate cutting-edge technology for analyzing the market and carrying out deals.
The opening of trading accounts requires a minimum deposit of one hundred dollars, and in comparison to other online brokers, the spreads and execution speeds offered here are more favorable. They do not levy any commission fees on deals either.
"Fortrade today services over 10,000 individual and institutional traders from throughout the globe, and it continues to develop," said the managing director of Fortrade, Nick Collison. We are not content to rest on our achievements, and instead we strive to continuously improve, innovate, and develop new goods in order to provide the highest possible level of service to our patrons. We are committed to maintaining the highest levels of honesty, reliability, and openness in all of our business dealings since we firmly think that trust is the cornerstone of success in our field. We are licensed and regulated by the Financial Conduct Authority since we are a broker situated in the United Kingdom (FCA). This guarantees that we are committed to protecting the interests of our consumers and adhering to the Treating Customers Fairly guideline that was established by the FCA.
Fortrade is subject to tight laws and regulations, which they adhere to when holding customer funds, therefore they are regulated. In addition to providing beneficial trading circumstances, regulation may assist provide customers with the sense of security that comes from knowing they are working with a trustworthy and competent broker. The guiding principles of Fortrade are "trust and openness in all that we do."
The Financial Conduct Authority (FCA) in the United Kingdom has granted Fortrade Ltd. authorization and regulates the company's activities.
The National Bank of the Republic of Belarus (NBRB) in Belarus is the governing body that has granted Fort Securities LLC. authorization and oversight.
The Australian Securities and Investments Commission has granted Fort Securities Australia PTY LTD (D/B/A Fortrade Australia) a license and oversees the company's regulatory compliance (ASIC).
Fortrade Canada Limited is subject to the rules and guidelines established by the Investment Industry Regulatory Organization of Canada (IIROC), and it is also a participant in the Canadian Investor Protection Fund (CIPF).
Fortrade welcomes customers from the vast majority of nations, with a few notable exceptions. Residents of the United States, Japan, or Belgium, as well as anybody living in a country or jurisdiction where such distribution or usage would be illegal, are not permitted to do business with Fortrade.
Customers who trade with Fortrade have the option of using either the widely used MetaTrader 4 (MT4) trading platform or Fortrade's very own platform. Both systems are accessible via desktop computers, mobile devices, and the online.
You may trade on worldwide markets using the MT4 desktop platform, which can be accessed from your own computer or laptop. It continuously transmits hundreds of real-time price quotations and charts for a wide variety of trading instruments spanning many marketplaces. You are able to browse charts on a number of different periods and make use of the built-in technical indicators to conduct analysis of charts in search of possible trading opportunities.
A wide variety of order kinds, trading strategy templates, drawing objects, and alarm notification options are all available to users. MT4 also enables user-created indicators and automated trading methods, which are more generally referred to as "expert advisers" (EAs).
Even though Fortrade is the only broker to provide the MT4 desktop platform for Windows, other brokers do make it available for Mac users.
The powerful MT4 app provides all of the sophisticated capabilities of the standard desktop version, and it does it in a package that is both user-friendly and abundant in features. It can be downloaded on both iOS and Android via the app stores for those respective operating systems.
The MT4 WebTrader can be accessed from all of the major browsers available for both PCs and Macs, and users are not required to download or install any software in order to use it. You will have access to more than 300 different CFD asset classes, such as FX, stocks, commodities, indices, ETFs, and Bonds, all from within your computer browser. This access is provided to you by the company. All of the sophisticated capabilities of the classic desktop version are carried over to the WebTrader as well.
Users of the Fortrader desktop platform have access to a straightforward program that enables them to trade more than 150 different forex currencies and CFDs. They can also take advantage of the accuracy and functionality of fully-automated trade executions. You are able to download and use the feature-rich platform, making it possible for you to place purchases online in a safe and convenient manner.
Your ability to analyze the market and make the most of your trading tactics is going to be significantly aided by the fact that the platform provides live-streaming price quotes, charts, and built-in technical indicators. It offers a versatile and user-friendly interface that enables you to control and customize your trading environment in a manner that is most appropriate for your trading style and techniques. This helps you to make the most of the opportunities presented by the market.
The Fortrader web platform provides quick access to the world's financial markets, and users don't have to download or install any additional software to take use of this feature. Users may take advantage of a trustworthy trading solution through an internet connection and the vast majority of today's browsers, which can be accessed with only a few clicks of the mouse. As long as there is an internet connection, you are free to open, change, and shut positions whenever and wherever you choose, whether you are at the workplace, on vacation, or in any other setting you choose. It is fully synchronized, in addition to being quick and simple to use.
With the help of the Fortrade mobile app, you will always be able to stay connected and take care of business regarding your account, regardless of where you are or what time it is. Whether you have an Android or iOS smartphone, you can quickly and simply transform it into a virtual trading desk that you can access from the palm of your hand. Both the Android and iOS operating systems support the mobile platform, and it may be downloaded on any one.
Fortrade provides its users with a variety of helpful trading tools, such as trade calculators, a currency converter, and trading central.
Fortrade has formed a partnership with Trading Central in order to provide customers with a comprehensive set of technical analysis tools. These tools will assist customers in developing their trading abilities and in comprehending the fundamentals of charting.
The material used to generate the outputs, charts, and indicators for its technical analysis comes from a partnership of investment banks and asset managers.
Trading Central is continually being updated with more insightful technical analysis reports and advanced chart-pattern detection capabilities, both of which may help traders make better trading decisions. Trading Central can also help traders make trading decisions. It has a straightforward interface and can be found in the chart part of the platform on all three of its iterations: desktop, online, and mobile.
In order to convert your predetermined amount to and from a variety of currencies, the currency converter tool utilizes market rates that are current at the time of conversion.
The needed leverage for any tradable instrument that is made available by Fortrade may be quickly and easily calculated using the margin calculator in the form of a simple percentage. Because of this, you are able to determine the precise amount of margin that is required in order to open a position, and you are also able to change the size of the position accordingly, if necessary.
The fees associated with maintaining a position overnight are determined by the swap rates. This occurs on any deals that are still open at the time specified, which is 21:00 GMT. You may quickly determine the swap costs that you will be responsible for paying by using the swap calculator. These fees are determined by the instrument, account currency, and deal size.
The point-and-figure (pip) calculator determines the precise monetary worth, in the currency of your trading account, of each of your open positions. This may help you gain a better understanding of how the size of your trades is determined.
There is a free trading academy available online at Fortrade, which includes a variety of helpful materials for enhancing traders' knowledge and abilities. Webinars, eBooks, Trading Courses, Trading Videos, Video Tutorials, Trading Strategies, News, and Market Analysis are some of the Educational Resources Available.
Fortrade provides both paid and unpaid online seminars on many aspects of trading, including market analysis (both technical and fundamental, money management, technical indicators, trading psychology, and a great deal more.
The trading eBooks provide a comprehensive summary of the markets as well as the fundamentals of trading. They cover a wide range of trading-related issues, making them an excellent starting point for beginners who want to learn more about the industry.
Fortrade provides trading classes for novices as well as more experienced traders. These courses cover a broad variety of subjects, such as the various markets, trading methods, types of orders, terminology, and more. These courses are entertaining and simple to understand, organized into slides that are easy to swallow in little bits.
The trading videos are quite professional and comprehensive, and they offer a
broad spectrum of advanced instruction on a variety of themes like market
analysis, trading psychology, technical and fundamental analysis, and many more.
The videos are enjoyable and pleasant, suited for all trading skill levels.
Fortrade has compiled a series of video guides that explain how to make use of their numerous services and cover a variety of trading-related issues. There are videos available on a variety of topics, including but not limited to creating accounts, utilizing trading platforms, doing chart analysis, and using trading tools.
Fortrade explains a few trading methods that may be employed either on their own as a stand-alone approach for doing market analysis or as a component of another strategy.
The meanings and terms that are most commonly used in business are compiled in the glossary of terms.
Fortrade has an analysis section that is often updated and includes daily, weekly, and historical information. This area may be utilized for the purpose of locating prospective market opportunities and assisting with the development of strategies. The research is highly thorough, covering both the technical and fundamental aspects of a number of different markets. There is something called an economic calendar, and it lists impending news releases along with their potential effects on the market.
Traders may choose from more than 300 different contracts for difference (CFD) products offered by Fortrade. These products include a wide variety of asset classes, such as forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, ETFs, and CFDs.
They provide more than sixty and more forex currency pairings, which are categorized as majors, minors, and exotics respectively. There are a total of twenty indices, one hundred eighty equities, five types of metals (including gold and silver), five categories of energy (including natural gas and oil), and five categories of soft commodities.
Both a demo practice account and a genuine trading account are available through Fortrade. They do not impose a commission fee but instead include all associated costs in the spread that is then marked up. One hundred dollars is the bare minimum that must be deposited in order to have access to any and all trading platforms and products. There is also the option of opening Islamic swap free accounts that are in accordance with Sharia law.
Traders Who Meet the Requirements for a Professional Account Traders who meet the requirements for a professional customer can submit an application for a professional account. You need to have traded in substantial size an average frequency of 10 times over the course of the previous four quarters on CFDs or FX, and you also need to have an investment portfolio that is greater than €500,000 to be qualified for a professional account. (Including cash savings and other financial products), have worked for at least one year in the financial sector in a professional capacity, accumulating experience with CFD and FX trading, and meet the requirements listed above. Although a professional account can provide EU traders with a leverage of up to 1:200 rather than 1:30, this also results in a reduction in the protection that is provided by the broker.
If you do not trade on your account for any consecutive period of 180 days, then Fortrade will deem the account to be inactive or dormant and charge you an administrative fee of $10.00 This fee represents Fortrade's administrative cost of continuing to operate the inactive account. If you do not trade on your account for any consecutive period of more than 180 days, then Fortrade will close the account. After the grace period has passed, the charge is withdrawn from the remaining amount of the client's account every thirty days thereafter.
Fortrade provides multilingual customer care by online chat, telephone, and email around the clock and seven days a week. There are foreign telephone lines, and the live chat feature responds fairly quickly to inquiries in an effort to provide answers. If you have any inquiries regarding Fortrade's goods or services, the Support team would be pleased to assist you. They are also interested in hearing any thoughts or suggestions you may have.
Funding Fortrade is pleased to accept a wide variety of funding methods, including as bank transfers, credit and debit cards from all major issuers, Neteller, and Skrill. The length of time required to complete the task could influence which approach you choose. If you are looking for something speedy, you might think about using an online payment processor. Please be aware that certain procedures could only be accessible from within certain nations.
When utilizing certain payment methods, you can be subject to additional costs. While certain payment options can be completed immediately, the clearing process for bank transfers might take several business days.
Open accounts can be conducted in any of the following currencies: GBP, EUR, or USD. When you use an account denominated in your native currency, you won't be subject to any costs associated with currency conversions. This is one advantage offered by the various currency alternatives.
At Fortrade, opening an account to begin trading is a simple and straightforward process. You just need to fill out the brief account opening form and verify your account by providing some sort of identity and proof of address, such a passport and a statement from your utility company. As soon as your identity has been confirmed, you will have the option to either open a free demo practice account or fund your genuine account and immediately begin trading on the MT4 or Fortrade platform through desktop, web, or mobile platforms.
Because their website has such a vast quantity of information, navigating it
for the first time might feel quite bewildering at first. In point of fact, when
I first started working on this review, I had some difficulty obtaining the
information that I need. However, please do not misunderstand me; this is not a
very serious problem, and it will be resolved in the next few moments. The very
first thought that comes to mind is "Whoa, that's a lot of information!" You
won't have any trouble getting used to it at all.
Why Fortrade Isn't a Complete Waste of Your Time: Fortrade is subject to the oversight of a number of financial regulators and provides clients with access to six different trading platforms, a demo trading account, multiple asset classes (including cryptocurrencies), free technical analysis provided by Trading Central, educational articles and videos, as well as trading strategies. Should I keep going? This broker possesses all of the necessary qualities to be considered a reputable and professional venue.
Fortrade does not appear to be a fraudulent company when considering both the length of time it has been in operation (since 2013) and the stringent regulation that was discussed before. Keep in mind, however, that several FX and CFD brokers have been in business for more than ten years, therefore Fortrade may be regarded "new" by certain investors in comparison to the industry's leading FX brokers. We do not in any way consider them to be "young," and the fact that they are regulated by the FCA, CySEC, ASIC, NBRB, and IIROC (for portions of Canada), in addition to having a professional website, gives us good reason to assume that we are not dealing with a fraudulent operation.
Should I Sign Up For A Trading Account With Fortrade? Fortrade is a well regarded online broker that provides CFD trading services on a wide variety of asset classes. These asset classes include cryptocurrencies, indices, equities, and commodities, among others. Fortrade Limited, which was founded in 2013, is the owner of the broker and operates it. Fortrade Limited holds a license issued by the British Financial Conduct Authority (FCA) with the reference number 609970. Fortrade Cyprus Ltd. has been subject to regulation by the Cyprus Securities and Exchange Commission (CySEC) since the year 2020, as evidenced by the company's possession of license number 385/20.
The following are examples of Fortrade's regional branches:
Reference Number 193075810 is assigned to Fort Securities LLC by the National Bank of the Republic of Belarus (NBRB), which authorizes and regulates financial institutions in Belarus.
A company that is registered and controlled by the Australian Securities and Investments Commission (ASIC), Fort Securities Australia Pty Ltd has the following information: ABN: 33 614 683 831 | AFSL number: 493520. In a more recent turn of events, Fortrade Canada Limited is now subject to oversight by the Investment Industry Regulatory Organization of Canada (IIROC), which governs some regions of Canada.
Fortrade provides its customers with a web platform that is unique and very simple to use. However, the platform lacks more complex capabilities such as configurable indicators and advanced order types (for example limit orders). On the other hand, if that's your thing, they also offer Meta Trader 4, which is widely regarded as one of the most sophisticated and advanced platforms currently available (and hands down the most popular). Meta Trader 4 may be used on desktop computers, mobile devices, or the web (with no download required). Their proprietary platform is offered in the same versions as MT4, which traders may choose from.
Although a deposit of at least $100 is required, the minimum they would accept is $500. There are no account levels, which means that you will not receive any additional benefits based on the amount that you deposit; of course, a greater sum enables better tactics for managing money, but I am not suggesting that you deposit a large amount of money.
The education component is enormous, and I can confidently state that it is one of the largest that I have seen on a brokerage website. The material is laid down in a way that is simple to understand and is designed with newcomers to the field in mind. You will discover a variety of resources, including written instructions, videos, methods, e-books, and daily market updates and reviews. In addition, there is an extensive area devoted to frequently asked questions (FAQ), in which you will likely find answers to the majority of your questions. Demo accounts are provided as a component of their education; these accounts have no restrictions and the opening process is quite simple.
The answer to the question posed in the headline is essentially yes, as it appears to me that this is a genuine and trustworthy broker. Yes, particularly if you are seeking for a CFD brokerage that provides trading on Bitcoin and alternative cryptocurrencies with leverage. Having said that, please keep in mind that our reviews are not intended to serve as a replacement for conducting your own research on the brokerage firm to which you are ready to entrust your money.
The location Michelin House 81, Fulham Road, London SW3 6RD, United Kingdom is listed as being associated with Fortrade Limited. The headquarters of Fort Securities LLC may be found in Minsk, Republic of Belarus at 144 Mayakovsky St., 220028. The address of the headquarters of Fort Securities Australia Pty Ltd. is Level 5, 20 Bond Street, Sydney, New South Wales 2000. Fortrade Canada Limited can be found at 1200 Waterfront Centre, 200 Burrard Street, and their mailing address is P.O. Box 48600, Vancouver, British Columbia V7X 1T2, Canada. Office 504 is situated at 79 Athinon Street, 3040 Limassol, Cyprus, and is the location of Fortrade Cyprus Ltd. You may reach the broker using the following email address and phone number: info@Fortrade.com and +44 203 966 4506.
I was able to locate two complaints on the inability to cancel the transaction. Having said that, the customers afterwards stated that Fortrade refunded their money; thus, I do not believe there is such a significant issue here. Another customer was dissatisfied with Fortrade since there was no response to his complaint that the brokerage had closed some of the lucrative deals he had made. This kind of conduct is a significant concern, but the user didn't continue writing about it, so I don't know how it came to a resolution. In general, there is not a significant amount of negative publicity regarding Fortrade.
Warnings and Announcements Regarding Commercial Trade Regulations
At the time that this article was being written, we were unable to find any warnings or penalties levied against Fortrade or any other form of broker related to this company. In the event that this may change in the future, we will make the appropriate adjustments to our review.
This particular brokerage provides clients with two distinct kinds of bonuses: balance bonuses and credit bonuses. The former is something that is only obtained after the verification of the documents, and the quantity is left up to their discretion. You will be required to trade 0.1 lot for every 1 USD, GBP, or EUR that was obtained as a bonus before you may withdraw it. The exchanged asset determines the lot size that is used (for example, it is 10,000 Pounds for FX, 1,000 barrels for Crude Oil, etc.).
Because the Credit Bonus is a little bit more involved, I strongly suggest that you read their Bonus Terms and Conditions in its entirety. Never agree to take a bonus unless you are absolutely certain that you have a complete and thorough understanding of the terms.
Withdrawals can be made through wire transfer or by using a credit or debit card; however, the processing time for cards can take up to 15 business days, while the processing period for wire transfers can take anywhere from three to five days. There is a possibility that it will take less time, however these are the typical times indicated by Fortrade. You also have the option to utilize Skrill or Neteller, but the process for doing so is really straightforward: you will need to send them an email including the amount of money you intend to withdraw as well as the email address that is connected to your Skrill account or your Neteller Account ID. It would be wonderful to have an automated method for withdrawing money.
Fortrade Allows Users to Trade Bitcoin and Other Cryptocurrencies: Only Bitcoin, Dash, Ethereum, and Litecoin are included in their selection of cryptocurrencies, making it one of the most limited options available. Bitcoin and Litecoin have a leverage of 1:2, whereas the other cryptocurrencies only have a leverage of 1:1. The spreads are rather high (an average of $120 for Bitcoin and between $5 and $7 for the others), but they are recalculated every three months and are floating, which means that they can alter at any time without prior warning.
If you give it some time, the vast quantity of information that is shown on their website will eventually become second nature to you, despite the fact that at first it may seem overwhelming. Demo accounts and mobile versions of their trading platforms are both accessible, as well as the website, which is available in two languages (English and Russian). The platform itself is available in ten different languages. Customers from the United States are not accepted.
Their trading basket is made up of hundreds of assets, including anything from fiat currencies to cryptocurrencies (such as Bitcoin, Dash, Litecoin, and Ethereum), as well as equities, indices, commodities, and exchange-traded funds (ETFs), and even U.S. Treasuries. In general, there is a good selection, although I wish there were more cryptos available. The spreads are variable, meaning that they alter depending on the conditions of the market, and they are located somewhere in the middle of the range (about 2 pips for EUR/USD). The maximum leverage for fiat currencies is 1:200, whereas the maximum leverage for Bitcoin is 1:5, and the maximum leverage for other cryptocurrencies is 1:1.
The bare minimum for a deposit is $100, however they advocate making at least $500 worth of bets. Withdrawals may be processed using credit or debit cards (with a hold period of up to 15 days), wire transfers (with a hold time of 3-5 days), as well as Skrill and Neteller (which will take shorter time).
It does not cost anything to establish an account (just like it does anywhere else), but inactive accounts will have a charge of $10 taken from them every 30 days once they have been dormant for a period of 180 days. Support got back to me in a timely fashion and provided answers to my inquiries in an expert fashion.
Huge amount of educational content, 6 trading platforms, and technical analysis from Trading Central. Fully regulated by the British Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the National Bank of the Republic of Belarus (NBRB). In addition to this, they are one of the very few CFD brokerages who provide a bonus.
Fortrade Ltd. was founded in 2013, and since then it has expanded at a breakneck pace to become the preeminent supplier of online trading solutions for individual and institutional customers. We are innovators with our headquarters in the United Kingdom, and our area of expertise is the development of trading platforms that are both technologically advanced and pleasant to users.
We provide clients with access to a vast array of trading instruments, including more than 50 different currencies, approximately 250 different stock CFDs, and dozens of other indices and commodities.
Our mission from the beginning has been to provide easier access to, and eventually lucrative participation in, online trading. Because of our dedication to innovation and customer service, we have been able to successfully build our business and enter new areas, where we can now provide solutions to meet the needs of both novice and seasoned traders all around the world.
Fortrade is one more of the most well-known brokerage businesses that are available for automatic trading on the internet. It asserts that it was founded with the intention of providing a trading environment that is stress-free for both novice and seasoned investors alike.
If you are a seasoned trader, then you should be aware that in order to engage in any kind of trading online, you are required to first create an account for yourself. Following registration, you will be paired with a broker who operates in your area on the basis of the nation in which you now reside. This broker will arrange the deals that have a good chance of turning a profit for all parties involved and will assist you in generating additional income from the initial amount that you have deposited.
If you work in the trading industry, then you have probably already been made aware of the numerous scams that take place in this location on a regular basis. We would like to inform you that all of these scams are played by brokers who provide the appearance of being regulated while in reality they are not. Because you did not do adequate research and because they are not regulated, you will lose the money that you deposited into their accounts as the initial capital. However, since they are not regulated, you will not lose the money.
Brokers who do not operate under stringent rules and who are not linked with well-known organizations typically gain millions of dollars by fraudulently taking money from unsuspecting traders. It would be a terrible accident if you put a lot of money aside for automatic internet trading and then someone stole it from you without giving you any opportunity to make a profit with it. Because of this, having a broker that is dependable and trustworthy is quite important.
Fortrade has customers all around the world, with the exception of a few carefully chosen customers. Fortrade supports a total of 15 distinct languages, allowing it to accommodate a diverse range of consumers and increasing the likelihood that they would utilize the platform.
Fortrade is a derivatives brokerage business that has its headquarters in the United Kingdom and offers all of its customers an outstanding platform for trading forex and contracts for difference. Fortrade is one of the firms in this category. CFDs provide all of its traders the opportunity to speculate on the price of an asset despite the fact that they have no ownership of the accounts in it.
Since you are now aware of the necessity of working with a trustworthy broker, it is time to move on to the broker that will be the topic of discussion in this article. We will proceed under the assumption that you searched for Fortrade, which is also among the most well-known brokers that are available. For your convenience, we have put up a detailed Fortrade review for you to read and follow in order to ensure that you have a positive experience when investing with this brokerage service.
2013 marked the year of establishment for the brokerage business known as
Fortrade. This brokerage business has only been around for a short while, but it
has quickly become one of the most sought-after options for those who deal in
foreign exchange as well as cryptocurrencies. This CFD broker asserts that its
objective is to give clients from all over the world with a trading environment
that is friendly to users of all experience levels and is appropriate for both
experienced and novice traders.
Since the automated cryptocurrency trading platforms, as well as stock trading platforms, have gained such a significant amount of importance, it is difficult to discover brokers who are genuine and trustworthy. However, this specific brokerage business has established its credibility by demonstrating that it is capable of delivering all of the services that it advertises to its customers. In addition to this, it makes an effort to carry out all of its tasks by delivering open and honest services. In addition to this, it engages in the trading of a wide variety of assets.
Fortrade places a particular emphasis on making their technology as user-friendly as possible. It makes an effort to provide a platform that is scalable and adheres to the additional standards set by the foremost worldwide regulatory authorities that are known collectively as the Financial Conduct Authority. It possesses the bulk of the available strength. Traders are constantly looking forward to the arrival of a powerful broker that is regulated in the European Union from across the ocean. In addition to this, it provides access to the CFDs that are resident throughout a number of key assets of the classes that are eager to discover further possibilities at Fortrade. You need to keep in mind that trading CFDs reveals traders who have a high risk of incurring losses. Aside from that, Fortrade does not let its customers to incur a loss that is greater than what was initially deposited in their Fortrade account. CFD trading is reserved exclusively for traders with extensive prior expertise.
But there is a distinction to be made between this program and the other brokerage businesses that are now accessible. When you first visit the official website of Fortrade, you will see that there is a great deal of information there, some of which may appear to be rather daunting. However, this is simply the case due to the fact that this program concentrates on market analysis as well, and as a result, the site includes a significant amount of data.
Is Fortrade a scam? This is one of the most important things to ask when trying to figure out why users go to review websites. On the other hand, you will discover prejudiced perspectives on a wide variety of websites. This is due to the possibility that some competing brokers have provided inaccurate evaluations regarding this product. On the other hand, in this specific instance, we are going to provide you an objective opinion that is founded on real-time testing in addition to individual user feedback.
You will be overjoyed to learn that this brokerage business is not in any way a Ponzi scheme, and that it is a completely genuine broker through which to conduct all of your automated trading transactions. It is extremely carefully controlled, and it functions in accordance with stringent standards. Your money is not at risk while it is in their possession. In addition, you do not have to be concerned about the regular losses that customers typically experience in the event that their brokers are not authentic.
Fortrade provides its customers with the opportunity to engage in CFD trading, which encompasses more than 300 different instruments and is organized solely into nine distinct categories. These categories include precious metals, index CFDs, energy products, US Treasuries, forex, exchange-traded funds (ETFs), stock CFDs, cryptocurrencies, and agricultural products.
Because it is registered with the main major worldwide regulatory agencies, we have a tendency to assume that Fortrade possesses an extraordinarily high level of trustworthiness. In the UK, the company is subject to oversight from the Financial Conduct Authority (FCA). Because of the markets in Financial Directive, the corporation is now allowed to function as a regulated component throughout the entirety of the European Union. The customers of Fortrade find a great deal of solace in the fact that every broker must have an audit done on their financial statement. This auditing is carried out by Fisher Sassoon and Marks, which is among the most well-known accounting companies that are affiliated with the financial services industry.
Fortrade gives you access to a diverse range of assets that you may trade. In addition, there are a plethora of wonderful functions and applications, all of which will be discussed in detail in the following paragraphs of this article. Because of this, we are able to affirm that the platform in question will never create anything because it is a valid one. It is comparable to some of the most effective automatic trading software that is currently on the market. If you want to participate in a meaningful debate, be sure to read the full article.
Is there a lot of oversight on Fortrade? When you join up for an automated trading platform, you should make sure that you look ahead and do a lot of research on the broker that you are matched with. This is something that you should do anytime you sign up for an automated trading platform. When selecting a broker, the question of its rules is the single most significant consideration. Regulations are a vital component since they force brokerage firms to operate under stringent standards and ensure that the client's best interests are prioritized in all aspects of the business.
We are overjoyed to inform you that this brokerage business is subject to a high level of regulation, and as a result, your money will be safe when it is held by them. It is in accordance with the standards set out by the Financial Conduct Authority of the United Kingdom, the Australian Securities and Investment Commission, and the National Bank of the Republic of Belarus. All of these regulatory bodies establish unmistakable parameters within which the company is required to operate.
In addition, traders with Fortrade have the option of trading on either the broker's own platform or one of the industry's most widely used platforms known as MetaTrader4 (MT4). Both are typically accessible via a desktop interface, a mobile interface, and a web-based platform. Traders have access to a total of 300 different financial assets and are provided with a leverage that may reach up to 1:200 on currency pairs and 1:50 on commodity and index CFDs respectively.
The fact that any money you deposit or move to a particular broker is required to be held in a separate account is the feature of the legislation that is considered to be the most important. Because of this, the company is unable to utilize it for any of its goals or to steal any amount of money. In this scenario, you will be concentrating on making a profit while simultaneously placing a transaction that provides the user with the highest possible chance of winning. To summarize, having a trustworthy broker is essential to the security of any automated platform.
This platform offers its customers access to a diverse selection of assets for use in trading. It supplies its customers with a variety of financial instruments, including currencies, equities, energy goods, agricultural products, precious metals, and treasuries, among other things. However, the trading of cryptocurrencies comes with a substantial drawback that must be taken into account. The cannabis stock is also becoming rather renowned as a commodities trader, and although Fortrade does not provide this option, it is growing increasingly popular in this capacity.
Mobile trading is another important element connected to the brokerage company that is becoming increasingly popular as a form of free trading alternative. Installing and downloading the mobile application is simple, and may be done so from either the Apple App Store or the Google Play Store. Trading is thereby made far less difficult, and you are liberated from the burden of having to carry about a laptop on a nearly constant basis. You are able to accomplish the same thing with the cell phone. This program may be accessed via a tablet computer such as an iPad as well as other tablets.
The education sector is given the highest attention under this program. This is due to the fact that it releases a significant quantity of knowledge-based content, all of which is readable from this location regardless of the type of trader you are. You will also have complete access of other trading-related resources, such as instructions for trading, trading webinars, trading courses, and even trading eBooks, among other things, within this platform. If you are new to this software, you should definitely look into examining all of these choices carefully before making any decisions.
Account kinds on Fortrade: you will be relieved to learn that this specific trading platform does not support the concept of various account types. You will only need to open a single account, and those who deposit more or less money will not receive any additional benefits as a result. Because of this, both seasoned veterans and fresh faces are treated on an equal footing in terms of the services that are made available to them.
Minimum deposit: There is a great deal of software on the market that has requirements for a minimum deposit. The bare minimum required to open an account is one thousand dollars. Although investing is not good for newcomers, there is a benefit for the newcomers themselves. On this particular website, the minimum deposit is only $100, which is significantly lower than most other sites. It is advisable to invest the minimum amount possible at first and conduct your own research before doing anything else. Contrary to other sites, which have a recommended sum of five hundred dollars.
Withdrawals are a weak point for this site, which otherwise has a good selection of deposit options. Even if the first investment was made with a credit card, it was seen that the amount of the withdrawal was handled in a period of two weeks. Even though it was stated on the website that the withdrawal will be handled within five days, waiting for two weeks is an extremely unreasonable amount of time.
Registration is another important aspect that must be included in every brokerage company. Although you are not required to provide any identification papers or verify your identity in order to register for this site, the process is incredibly quick and painless.
Demo trading: Any legitimate broker, as well as every online platform for trading cryptocurrencies, makes available to all of its customers the opportunity to practice trading online through a demo account. The experience is smooth and unbroken. Any consumer who chooses this alternative will experience fewer losses that are not strictly necessary. despite the fact that they have no prior experience in trading. This program, Fortrade, is the only one of such marketplaces where there is no requirement to invest any money.
Even after reading this post, if you still have any questions, please let us know. It is our goal to make your experience as pleasant as possible. You have absolutely nothing to be concerned about at all. It provides a high-quality support service for its customers, and it is accessible through this medium. You have the ability to send a form with any questions, comments, or concerns you have to the relevant personnel if you have any kind of difficulty. You may do this by calling them, sending them an email or message, or even doing it over live chat. That is really great, isn't it?
How can I get myself registered on the Fortrade platform? Every new user on this site is required to present some type of identification documentation in order to verify their identity. This is because the platform is regulated by the Financial Conduct Authority. A color copy of your passport or another form of identification will be required, in addition to a recent bill or statement from your bank or utility company. In addition to that, you will be questioned on compliance with the regulations. You shouldn't let this worry you because it will just make things more secure.
You must initially visit this platform's official website in order for your registration to go through properly. Then search for the option to register, and be very careful when entering your information. You will be requested to provide information such as the appropriate account type, the country in which you now reside, your email address, and a robust password. Additionally, ensure that all of the aforementioned papers are within easy reach in order to expedite the registration process.
What are the steps I need to take to start trading with Fortrade? You do not need to register again with this brokerage business if you are accessing it through a trading platform because in that case you will not be considered a new customer. If, on the other hand, you wish to engage in individual trading, you will be required to do so by making an initial capital deposit. You shouldn't be concerned because this procedure is quite secure, and you may choose from a number of different payment options. The many ways in which you may make use of our debit cards, include Neteller, Bank Transfer, Skrill, and so on.
If there are any earnings in your account, you will be relieved to learn that information. After that, you will be able to make a withdrawal, and your request will be completed within about two weeks. The fact that withdrawals are processed over such a long period of time is not a feature that is offered by many brokerage firms, which is one reason why this particular function is not very useful. It may take anywhere from one to two days on other platforms, which is a pleasant amount of waiting time.
This platform makes trading incredibly easy for its users. Demo mode gives you the opportunity to sign up for a free account if you want to. When you trade in the demo mode, you will give yourself the benefit of all the options that will be available when you trade for real. When it is finished, you can next go to the MT4 platform if you choose. This Trader Platform may be accessed using any device that you are familiar with, including your mobile phone if that is more convenient for you.
This piece of software has a significant number of useful functions. It provides you with a streamlined experience that helps you feel confident in making the purchase. Anyone who creates an account on this platform will have access to a plethora of features and methods that render this software extremely simple and straightforward to use. People who are seeking for an automated trading platform will find it to be an amazing choice included in the product. Additionally, it allows for the trading of tradable assets like as stocks, indices, currencies, and commodities.
As a consequence of this, there is unwavering support for the idea that all newly registered customers should limit their deposits to the smallest feasible amount. Because of this, they are often protected from all the unimportant losses that one could incur if a deal does not go as planned.
As a CFD trading platform that has been around since its inception in 2011,
Fortrade is now widely recognized as one of the industry's most important
pillars. Although there are some accounts that place the beginning of operations
in 2014, the year in question was really when they obtained their license. The
Financial Conduct Authority (FCA), which has its headquarters in the United
Kingdom, oversees the business and requires it to adhere to some of the most
stringent financial directives that can be found elsewhere in the globe.
A broker needs to satisfy a number of qualifying standards and provide evidence that it is financially stable before it can be granted a license from the Financial Conduct Authority (FCA). One of the necessities is to use separate bank accounts for the company's money and the money of individual customers. In addition to that, each and every FCA broker is required to hold a minimum of 730,000 euros in liquid assets. There are further regulations that are quite similar to these in several other jurisdictions. The minimum capital requirement for brokers authorized by CySEC is €1 million, whereas the minimum capital requirement for US-regulated brokers is $20 million.
Even more importantly, the Financial Conduct Authority (FCA) regulation places the customers of all licensed brokers under the Financial Services Compensation Scheme, which covers damages of up to £50,000 per person per broker in the event that the broker declares bankruptcy or experiences some other kind of catastrophe.
It shouldn't come as much of a surprise, considering the stringent regulatory environment in which Fortrade conducts business, that despite our best efforts, we were unable to unearth any dirt on them. There are no reports of them being a fraud anywhere on the internet. In point of fact, even websites that specifically analyze scams like this tend to have positive things to say about Fortrade. In addition to the regulation from the FCA, Fortrade also has a number of other advantages up its sleeve. They provide access to MT4, in addition to having more than 300 assets that can be traded, and they have three trading platforms developed entirely in-house.
Fortrade also provides a wealth of valuable knowledge through its Fortrade Academy, which includes e-books, videos, and other media on topics like as technical analysis and successful trading tactics. There are even some intriguing webinars that pop up every once in a while.
Last but not least, Fortrade also offers protection against negative balances, which means that even if you lose everything in your trading account, you cannot lose more than the amount. A good number of other brokers allow you to accrue debts if the value of your trading account drops below zero as a direct result of unprofitable transactions.
Platforms As was said before, Fortrade offers three distinct trading platforms, all of which were developed in-house by the company. Since 2017, Fortrade has now provided support for MT4 trading platforms.
Desktop Fortrader is the one that stands out as the most prominent example of the operator's other platforms. It is a software package that can be downloaded, and it features all of the advantages and trading tools that Fortrade has been able to produce up to this point. The Desktop Trader provides a fully customized trading environment as well as a comprehensive set of tools that cater to virtually every conceivable want and requirement imagined. The main drawback is that there are no technical indicators available, but other than that, the charts are quite easy to read and may be used for price action trading.
The above-described Desktop trader is also available in a version that does not require downloading: Web Fortrader. It is fully featured, which indicates that it provides all of the functionality that is offered by the program that can be downloaded. Access to the Web Fortrader is possible from any device that has an active internet connection.
Mobile Fortrader is a system that is comparable to Mobile Trader that covers the mobile market for iOS and Android-based devices. Additionally, it provides complete capability, allowing traders to do market research while they are away from their desks.
MetaTrader 4, often known as MT4, is a well-known trading platform that is considered to be an excellent choice for more experienced traders. You will get access to a greater number of technical analysis indicators, you will be able to make use of expert advisors for automatic trading, you will be able to construct your own trading algorithms, and you will be able to back-test a trading strategy.
Due to the fact that Fortrade offers only two accounts, this section is one of the shorter ones. The first type of account available on the Fortrader Platform is the regular one. Traders are needed to make a minimum deposit of merely $/€/£ 100 in order to have access to all of the services that have been detailed above. Customers who have made a deposit are also given access to a demo account that has a starting amount of €10,000 in virtual currency.
Access to the widely used MetaTrader 4 trading platform is provided to customers of Fortrade by virtue of their MT4 trading account.
Fortrade does not impose any commission fees on its customers. Their spreads on common currency pairings like the EUR/USD start from 2 pips, however this might vary depending on whether you trade using the Fortrader interface or the MT4 platform. The nature of the asset that is being exchanged is used to establish the degrees of leverage. For the most part, the spreads offered by Fortrade are not the most competitively priced in the business.
Email is the best way to get in touch with the Fortrade support team because of how quickly they respond. Phone help and live chat are also offered, albeit the only language supported is English. The German, French, Spanish, and Italian languages may all be used on the Fortrade website.
The Online Academy at Fortrade provides trading classes for beginners, booklets on forex and CFD trading, trading videos, advanced trading courses, and top day trading tactics.
Fortrade is a good option for anyone who are seeking for a reliable and well-regulated broker that also provides protection against negative balances. The in-house platform and the functionality that it provides are both positive aspects of the situation, as is the appealing minimum required for the deposit.
From the outside looking in, the foreign exchange market might look strange and can be perplexing at times. Those who are new to forex find themselves confronted with jargon that is foreign to them, as well as a laundry list of forex-specific conventions, potential pitfalls for traders who are unaware of them, and an overlapping network of time zones and trading sessions that appear to be incomprehensible.
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This article was written by the team here at BrokerNotes to cover what we consider to be the fundamental aspects of forex trading. This book will help you get the answers you need to begin your own adventure into the world of foreign exchange trading, and we are sure that you have a lot of questions regarding foreign exchange trading.
Our guide will help you figure out how to choose a regulated forex broker that will be obliged to keep your money safe. It will also clarify the actual mechanics of the forex market (how does all of this work? ), and it will delve into some forex lingo (what on earth is a pip?). To get you started, we will begin with the basics (what is forex, anyway?). Our guide will then help you figure out how to choose a regulated forex broker.
We will also explain the different types of fees that you should anticipate paying when trading currency pairs (how much is this going to cost?). Finally, we will hopefully shed some light on the largest and most liquid trading market in the world, making it seem a bit less intimidating in the process.
The Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Financial Conduct Authority are some of the organizations that oversee Fortrade's operations as a financial regulator (FCA). In the list of facts that we have about Fortrade, you will find the whole list of regulators. It's possible that traders who have experience with MetaTrader 4 or 5 will find the program more useful than the Fortrader platform.
Fort Securities Australia PTY LTD - authorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number: 493520 Fort Securities LLC. - authorized by the National Bank of the Republic of Belarus (NBRB) registration FRN: 193075810 Fortrade Limited - authorized by FCA (UK) registration no.609970 Fort Securities Australia PTY LTD - authorized by ASIC (Australia) registration ABN: 33 614 683 831 | AFSL number:
Fortrade Cyprus Ltd. is authorized by CySEC (Cyprus), and Fortrade Canada Limited is allowed by IIROC (Canada). The registration number for both companies is 385/20.
The year 2013 marks the beginning of Fortrade's operations in the United Kingdom as a trading provider offering a variety of goods and services for online CFD and forex trading. Later on, throughout the course of its expansion, Fortrade created its branches in the countries of Australia and Belarus. More recently, it expanded even further and set up operations in the countries of Cyprus and Canada.
The mission of the company has been, from the beginning, to make online trading more approachable, pleasant, and lucrative. This demonstrates not just the organization's global existence but also the stringent regulation it is subject to. As a result, Fortrade is introducing tight and competitive spreads, which change depending on the trading instrument but begin at 4 pips for forex, through a variety of leverage ratios, and a number of other incentives.
Because reaching a sound conclusion is, the vast majority of the time, a very perplexing process, the broker strives to make the matter as straightforward as possible by developing technology that, while offering novice traders a streamlined trading environment, also incorporates advanced functionalities for more seasoned investors.
Fortrade makes it simple to register an account and is a regulated broker that holds reputable licenses such as FCA and ASIC. Additionally, Fortrade features a robust education section, platforms and research that are of a high quality, and fees that are on par with industry standards.
There is no assistance available twenty-four hours a day, seven days a week; conditions vary according on the entity; and spreads may be significant for some instruments. These are the negative aspects.
Is Fortrade safe or a scam? Because of its regulation, which includes top-tier FCA consideration as a low-risk broker for Forex, Fortrade is, indeed, a safe broker to work with.
Is Fortrade legit? In the case of Fortrade, it is approved and controlled by a number of bodies in respectable nations, such as the Financial Conduct Authority (UK) and the Australian Securities and Investments Commission (ASIC) (Australia). These two are truly some of the most serious organizations in the world that oversee firms that provide financial services. Their mission is to safeguard consumers and financial markets while also fostering a competitive environment.
In addition to this, Fortrade has expanded its trading offering and taken an additional step forward by creating formal entities in the countries of Belarus, Canada, and Cyprus. Whereas, and this is of the utmost importance, Fortrade possesses the necessary authorization, is subject to appropriate regulation, and is monitored to ensure that it functions properly.
How can you keep yourself safe? According to these licenses, Fortrade operates in full compliance with a number of restrictions and guidelines in order to provide a secure trading environment for all transactions. Additionally, client funds are kept in accounts that are kept separate from one another, and in the extremely unlikely event of an emergency, these funds are protected by schemes.
You are able to trade with a greater size than the original cash that you deposit when you use leverage, which is another name for a loan that the broker gives to the trader. Leverage does, in fact, greatly raise the possibility for bigger earnings; yet, on the other hand, it also significantly increases the amount of risk. Because of this, using leverage may be dangerous if it is done incorrectly or when it is increased to an excessive level.
Be careful to check the leverage conditions according to the Fortrade entity you trade with and where you live. The leverage ratios that are supplied by Fortrade comply with the regulatory requirements that are in place in each country in which the company operates.
Fortrade relies exclusively on a single account feature; nevertheless, the possibilities and conditions may change depending on the trading sizes and deposits that are made. To begin, a customer will register for a practice mode account, often known as a Demo account. This type of account simulates real-world trading and gives users the opportunity to become familiar with all aspects of the trading platform while beginning with a notional balance of $10,000. You may easily convert to actual trading mode whenever you're ready by clicking over to your real account, but there are no other alternatives to choose from when switching between the different accounts.
Because Fortrade delivers a speedy execution with no intermediate party in the process, this means that all orders execute in real-time without any commissions or fees, while all expenses are included into a spread instead. However, please read financing costs, inactivity fees, and non trading fees for complete price information.
Fortrade is also providing a suggestion for solely variable spreads, so that there is no room for misunderstanding regarding the costs. The fees are relatively agreeable in general, with the possible exception of those for commodities, for which the rates of certain other businesses may be cheaper. However, you should constantly view and think about the overall trading proposition, as having good fees is not the only factor that defines a reputable broker.
Always remember to take into consideration the rollover or overnight cost, which is imposed on you in the event that you maintain an opened position for more than one day. Traders that operate in accordance with Sharia law have the option of opening an Islamic or Swap-free account with Fortrade.
The extensive selection of trading assets includes access to more than 200 currency pairings, such as Bitcoin and other cryptocurrencies, as well as major and minor currencies, exotic currency pairs, indexes, stocks, precious metals, energy, and commodities CFDs. In addition, Agriculture Contracts for Difference (CFDs) are offered with no fees and variable leverage.
All manipulations of money, transactions, and requests are carried out inside the user's online account area. Here, the user may view fee reports, deposit or withdraw money in accordance with the regulations governing the regulatory body, and more.
Fortrade allows a wide variety of payment methods, including bank transfers, credit and debit cards from all major issuers, e-wallets such as Neteller, Skrill, and PayPal. The company also offers several ways to deposit or withdraw money from trading accounts.
What is the lowest amount that may be deposited into a Fortrade account? The minimum deposit required to open an account with Fortrade is one hundred dollars; however, the broker suggests making a deposit of at least five hundred dollars in order to trade numerous products and cover all of the necessary expenses. In addition, this need might be different for you depending on the legislation in your resident jurisdiction as well as the currency of your account's base.
When it comes to online trading, having efficient market access is crucial. This allows traders the flexibility to trade at any time, day or night, from any location, and also provides access to sophisticated tools that improve their trading and analysis abilities. Fortrade's team of developers responded to this demand by designing a line of trading platforms that are fully scalable. These platforms make it possible to monitor global financial markets and derivatives and to capitalize on price movements at the time and place that are most convenient for the user.
The proprietary platforms are offered in three different versions: Fortrader Web, Fortrader Desktop, and Fortrader Mobile. These versions provide traders with the ability to access trading in any way that is most convenient for them, whether they are on the move, using a browser, or using an installed version. While the entire procedure is carried out using a very effective execution methodology that is based on interbank quotations.
Despite this, the firm continues to provide customers with the popular MetaTrader4 platform, which can be accessed in a number of different versions optimized for desktop, online, and mobile platforms respectively. The platform includes leading indicators, oscillators, EA methods, and an automated desktop station, which together present a plethora of alternatives for the intelligent investing and trading process.
In addition, a mobile app that is compatible with either Android or iOS
smartphones is included in the bundle. As a result, you may use your mobile
device to keep yourself informed about the current state of the market while
also managing your account and positions.
Fortrade's international offering also includes assistance for its consumers, and as a result, the company offers multilingual customer care round-the-clock during business days across all of its global organizations. Customer care is accessible by e-mail, live chat, an online contact form, and international phone lines, and it is prepared to respond through its many service centers.
Investing in your knowledge so that you can investigate already available resources and develop trading strategies that are unique to your needs is essential if you want to be successful in trading. Fortrade provides complete instructional tools and aims to create the greatest data possible, in addition to trading features, and provides full support for the aforementioned endeavors.
Fortrade Academy puts a wide variety of webinars, market research data and analysis, as well as the Trading Central option, at the client's toolbar and convenience, and does a good job of keeping everything organized. Additionally, research tools are of a high quality and either come pre-installed on the platforms or may be accessed through the client resources.
The Fortrade review demonstrates an easy-to-use trading platform that has been developed with the goal of making online trading user-friendly, simple, and quick. For those who are new to trading, the cheap initial investment, well-developed teaching programs, and up-to-date market information is a valuable tool; for those who are experienced traders, there are several alternatives to meet their trading demands. And what's even more essential is that Fortrade offers a trading environment that is safe, secure, licensed, and controlled in accordance with the standards set by their recognized authorities FCA, ASIC, and others.
Sites like Fortrade in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.