Fortrade Review 2024: Is This Forex Broker Right for You?

With over 1.8 million clients, Fortrade is one of the largest full-service brokers in the UK, offering brokerage services through its online trading platform, mobile app, and offices in Australia and Belarus. A major player in the online CFD and forex trading space, Fortrade provides free call and trade services. Discover everything about this forex broker in our comprehensive Fortrade review, including insights on commissions, fees, bonuses, and more. Let’s get started!

Key Takeaways

• Fortrade is regulated by the UK’s Financial Conduct Authority
• Is popular for forex and Contracts-for-Difference (CFDs).
• Fortrade offers an impressive range of educational resources.

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Our Take On Fortrade Broker

Fortrade, a global forex broker, regulated by the Financial Conduct Authority (FCA) was founded in the UK in 2013 to provide products and services for CFD trading and foreign exchange trading conducted online.

The Fortrade web experience is savvy and hassle-free for traders and investors and it is the best broker for forex. Its desktop and online app versions have both been enhanced with new features, services, data, and logical analysis to aid consumers in making wise investment decisions. Along with user-friendliness, the forex broker offers leverage ratios, rewards, tight and aggressive spreads, which start at 4 pip for forex and vary based on the trading instrument.

Pros and Cons

Fortrade Key Features and Services

Fortrade broker offers several key features and services to enhance its trading offers, such as:-

Security and Regulation

If you have any concerns about Fortrade’s legitimacy, let us reassure you that it is governed by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Investment Industry Regulatory Organisation of Canada (IIROC), and the National Bank of the Republic of Belarus (NBRB). Regulatory organizations conduct routine evaluations and audits as part of Fortrade preserving their regulatory status.

You may be confident that your funds are completely protected in compliance with the toughest rules and regulations by joining their online trading community. With Fortrade, you may always feel secure and protected since they work hard to live up to their motto, “trust and transparency in everything they do.”

Trading Platform and Tools: Experience

In this section, you will learn about the many regulated trading platforms that Fortrade supports. Along with its own unique Fortrade platforms, Fortrade also provides more advanced traders with the industry-standard MT4 platform. You may manage your investments safely and conveniently using any of these trading platforms.

Here are some of the offered trading platforms at Fortrade broker:-

Web Fortrader

Utilizing Fortrade’s proprietary platforms, Fortrader Webtrader requires only a web browser and an internet connection on a PC, Mac, or mobile device. With a regulated cross-device platform and the One-Stop-Shop feature, traders may track, analyze, and trade while saving time and effort. Its cutting-edge trading interface, which uses some of the most advanced encryption techniques, completely ensures secrecy, anonymity, and financial security. Web Fortrader supports many different browsers, including Chrome, Internet Explorer, Firefox, Opera, and Safari. Make sure you have a recent mobile web browser installed on the smartphone or tablet you’re using.

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Mobile Fortrader Platform

Fortrade operates with a regulated Mobile Fortrader; you can stay connected and manage your retail investor accounts whenever and anywhere you like. A professional trader can get the Fortrader mobile platform from the website, the Google Play, and the Apple app store. You can find all the instruments like energy products and CD trading, read the chart, open and close trades, manage your Fortrade account, and make a minimum deposit using Mobile Fortrader. You can easily turn your Android or iOS device into a virtual trading station for your different account types. With the help of Fortrader mobile, you may trade profitably from the comfort of your hand.

Metatrader 4

Forex trading enthusiasts of all skill levels choose the well-known MetaTrader 4 (MT4) platform. The platform has many features that provide a stable trading environment and support various trading strategies. Because it is written in a programming language, MetaTrader 4 is suitable for novice traders who are not at ease creating their own algorithms for trading strategies.

With the help of this trading platform, customers may manage their money and possibly profit on the largest financial market in the world. Nine timeframes, three charting types, thirty built-in technical indicators, 24 graphical items, and thirty built-in graphical elements are all available to new and experienced traders. Expert advisors offer features including one-click trading, automatic trading, and a variety of order types (EAs). The entire trade history is available to MT4 users.

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Commission and Fees

Spreads: Fortrade allows users to trade with spreads, but it does not charge a separate commission on trades. Instead, the broker’s fees are incorporated into the spreads. For instance, the average spread for major currency pairs like EUR/USD is around 2 pips.

Commissions: Fortrade forex broker offers commission-free trading on both retail and business accounts. Funds Withdrawal from the broker are not liable for additional fees above the usual national bank transaction fees or payment processor processing expenses. Additionally, it doesn’t impose trading commissions.

Overnight fees: A trader’s account will either see an increase to it or a debit from it for the overnight Fortrade charge when a position is open for an extended period of time (or credit). Traders can get details on overnight funding rates on the website. At 20:59 GMT each day, the changeover cost is tallied. The financial firms that Fortrade works with regularly announce swap rates. Various risk management considerations and market conditions are used to calculate and set swap charges.

Inactivity fees: The Fortrade broker charges a cost for inactivity. Fortrade will consider your customer account inactive or dormant if it has been inactive for 180 days without any trades. The inactive charges are USD $10.00 monthly management fee (or a similar amount in another currency). The fee is charged if the client’s account balance reaches $0.

Account Types

The only options offered to traders through Fortrade are retail and demo accounts. Anyone who wants to trade can open retail investor accounts with the Fortrade platform, offering faster execution times and the benefit of commission-free trading. For each type of account, there are particular standards for commission, margin call, leverage, and minimum deposit requirements. We’ve investigated both of these licensed forex brokers’ retail investor accounts to help traders open trading accounts with educated decisions in this Fortrade broker review.

• Standard Trading Account/ Real Account: For both beginners and seasoned pros, setting up regular real retail investor account types at Fortrade is simple. Depending on the base currency of your single account, Fortrade real trading mode demands a minimum deposit of $100. However, the account managers advise traders to make the first deposit at a minimum of $500. Creating a retail account at Fortrade enables traders to use Fortrader or MetaTrader 4 to access all trading instruments. After creating retail investor accounts with Fortrade, traders are given leverage up to 1:30.Traders must enter the following details during the Fortrade sign-up procedure in order to get started: Name, Email address, Physical Address, Mobile phone number, Country, Currency (US Dollars, Euros, or British Pound Sterling), etc. You’ll also be questioned briefly regarding your financial, employment, and trading objectives.
• Demo Account: Create a demo user account on Fortrade platform if you’re new to trading and want to test out risk-free Forex platforms and practice with fake money in real-time markets. The trial retail investor accounts offer a realistic representation of the genuine trading environment, guaranteeing that you may gain the most from actual trading experience.A demo account can be opened without having a regular trading account, unlike with other forex brokers. Demo accounts include quotes for hundreds of financial trading assets and charts that work in real-time data, in addition to all the other capabilities that a conventional account provides. The practice account has no time restrictions. Some demo accounts, nevertheless, are often only accessible for a 30- to 90-day period.

Account Opening Process, Deposits, and Withdrawals

Account Opening Process: The Fortrade trading platform was created to make the process of opening investors accounts easy, quick, and friendly. Simply follow these steps to create a trading account with Fortrade in a matter of minutes:

Step 1: Go to “Full Registration” and click to open an account at Fortrade.

Step 2: Enter your contact information and other basic information, such as name, email, password, and currency. (It also requires a few documents from your end. The broker itself will specify the list of papers it requires.)

Step 3: Once you’ve finished submitting, you’ll move on to the next stage, where you’ll need to send a minimum deposit amount in order to begin.

Step 4: Press the “Submit” button. Your login details will be sent to the email address you entered on the registration form as soon as you are finished.

Deposits: Fortrade provides a variety of payment options in an effort to make checkout simple. To fund a trading account, a person can use various deposit options like Bitcoin Payments, MoneyGram, Neteller, PayPal, Skrill, Visa, and bank transfers. There are no fees associated with the transaction. However, it mostly depends on your bank and country.
Although 500 (GBP, USD, or EUR) is the suggested initial deposit amount, you can invest as little as 100 (GBP, USD, or EUR). A copy of the deposit receipt must be emailed to the broker for approval of deposits.

Withdrawals: You receive similar payment methods for withdrawals as of used for deposits. Because Fortrade is a global broker, please know that withdrawal times can range from 5 to 15 business days. It also depends on your chosen form of payment. Typically, a bank wire transfer takes up to 5 business days to reach your account. The processing time for debit and credit cards is up to 15 business days. Customers are responsible for paying Fortrade’s national bank withdrawal fees, which are often around $40.

Tradable Instruments

Traders at Fortade have access to more than 300 financial assets that are broken down into nine categories. Forex, Trading CFDs on stocks and indexes, precious metals, energy products, agricultural goods, US treasuries, and ETFs are some of them. Look at each category closely.

Forex

The ideal environment for successful online foreign exchange and CFD trading can be found at Fortrade. The services at Fortrade offer more than 50 major currency pairs for trading, which is a typical number when compared to the many top forex brokers in the market. These include exotics, minors (NZD/JPY, GBP/JPY, and USD/ZAR), and majors (EUR/USD, GBP/USD, and USD/JPY). They provide incredibly quick execution, no commissions, and leverage of up to 1:30 on all major, minor, and exotic currency pairs.

Stocks

Along with its selection of share CFDs, Fortrade also provides 24 DMA stocks, which let customers transact directly on limited stock companies and exchanges worldwide. Colgate-Palmolive, Nike, and Garmin are just a few of these companies.

Indices

While our team was researching this Fortrade review, we discovered that the forex broker, unlike other brokers, offered 18 top-notch indexes for trading. These indices feature the biggest and most well-known corporate shares.

Precious Metals

Ten precious metals, including gold, silver, platinum, and palladium, can be traded on Fortrade. This variation is noticeably wider than that of other online forex brokers.

Energies

Like other regulated forex brokers, Fortrade allows trading on five distinct energy types: oil, Brent Crude, gasoline, heating gas, and natural gas.

Agricultural Products

Fortrade offers trading CFDs on several important agricultural commodities, including wheat, corn, sugar, cotton, and other basic supplies. These fundamental commodities, traded on several commodity markets and exchanges worldwide, are an extremely important financial instrument to the modern world economy. Due to the extreme price volatility they frequently experience, there are also numerous opportunities to profit tremendously from relatively small investments by employing their futures and options.

US Treasuries

Treasury bills and bonds are given a fixed amount of interest until they mature every six months. Investing in U.S. Treasury securities and laying aside money for the future is a wise idea. Through Fortrade, you can purchase and sell trading CFDs on securities with a maturity of five, ten, or thirty years. The world’s largest and most powerful economy, the US, issues securities, notes, and bonds that can help you invest in a way that will maximise your potential future gains.

Promotions and Bonuses

Fortrade Ltd. provides a variety of trading bonuses, promotions, and incentives to both new and seasoned traders as well as devoted clients.

Balance Bonus: Due to regulatory restrictions, fortrade provides no deposit bonus offers or promotions. Customers can start trading accounts with a free deposit bonus through Fortrade. The traders need to fill a trading requirement of 0.1 lot* for every 1 USD/GBP/EUR bonus given to reach their target volume. For example, if the bonus is $30, once the trading volume on FX markets arrives to the total amount of $300,000 (multiply the bonus by 10,000) it is now possible to withdraw the $30 bonus.

Credit Bonus: This alternative incentive has different terms and conditions. Until the client reaches their target volume, which is established by the bonus amount provided, the Credit Bonus cannot be lost or withdrawn. After going through the entire documentation verification process, traders can claim this incentive. If a client has not reached their target volume when their equity drops below the credit bonus level, the credit incentive will be instantly canceled. When a consumer makes another deposit, at least 30% of the credit bonus value will be activated again. The bonus might be leveraged for financial gain.

Fortrade Mobile App

Each and every smartphone model is compatible with the Fortrade Mobile Apps, a fully functional trading platform. The mobile app is also compatible with tablets. To meet the diverse needs of traders, the Fortrade mobile trading solution offers a fluid user experience and a wide range of features. Users using mobile platforms can trust the App because it is SSL-secured. To ensure the security of your investment money, the software makes use of modern encryption techniques. This trading software’s core features and functionality are designed to provide an excellent user experience.

Fortrade Partnership Programmes

Affiliate Program

Fortrade affiliate program is open to aspirants and trading influencers. Similar to recruiting clients for brokerage firms, an affiliate’s role is to attract clients. There may be access to special payments through the program. Platforms for affiliate marketing allow you to establish passive income streams as well. To earn a commission, get the link from Fortrade and then start persuading traders to click on it.

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Introducing Brokers

Another effective strategy to earn well at Fortrade is to refer to a broker. To receive a commission from the broker, all you have to do is direct your client to the Fortrade trading platform.

Financial Institutes

The Fortrade trading platform can also work with financial institutions, giving traders a very profitable chance. Your current business infrastructure can create extra revenue with the help of our partner program.

Asset Managers

Fortrade operates an asset management program in addition to all the services. The service of managing a client’s finances is known as asset management. Fortrade offers a methodical method for efficiently managing a client’s investment portfolio. In exchange for managing their clients’ financial assets, traders might earn money by charging fees.

White Labels

Another intriguing technique that allows traders to make significant profits is the white labels collaboration programme. This program is excellent for businesses and working professionals, and it is available to retailers as well. The curriculum provides in-depth training on how to resell or rebrand Fortrade services.

Fortrade Supported/Restricted Countries

The list of nations that Fortade supports is provided below:- Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, China, Colombia, France, and more.

Below is a list of every nation that Fortrade has banned:- Afghanistan, Cambodia, Hong Kong, Israel, Japan, United States, and some more.

Customer Support

In addition to ensuring customer security, Fortrade ensures that none of its clients ever experience problems. To do this, the multi-asset broker provides its clients access to various Fortrade support networks. The multilingual customer service staff can be reached via email at [email protected] and by phone support at: +44 203 966 4506 (UK). You can also access the Support page contact form online.

Live chat support is highly useful because there is a low wait time and experts who can help with various problems, such as withdrawal problems, broken apps, and how to close or deactivate a Fortrade account. As per many Fortrade reviews, the support team can also be reached by phone and email. Alternatively, you can find self-service advice in the FAQ section.

Research and Educational Resources

Under the Education page of the website, Fortrade online broker also offers excellent educational resources and advanced tools. Understanding the financial markets and the Fortrade trading tools well is essential for successful trading with Fortrade. Many people lack these skills, but the market needs them from you to override the high risk of losing money rapidly.

Trading eBooks
Fortrade provides a wide range of instructive Forex Brokers and CFD trading ebooks that are appropriate for all skill levels of Fortrade users. A Forex Market eBook covers all the fundamental ideas, such as trader psychology and behavior, as well as terms and investment advice for profitable trading if you wish to start trading wisely. For those who enjoy reading, a 3D-modelled interactive online flipping book is available. The Commodities and Futures eBook is appropriate for an account manager or trader if they wish to learn about the benefits of trading futures.

Trading Courses for Beginners
If you’re a newbie, take some time to browse the Forex & CFD Trading Courses for Beginners and educate yourself on how to think about the markets more methodically and logically. The beginner’s course will cover all the fundamentals of forex, acquaint students with numerous key trading terminologies, and demonstrate how to execute the first trade.

Advanced Trading Courses
In advanced Forex & CFD classes, the definitions of CFDs, equities, and indices will be covered. Fortrade users who enroll in advanced trading classes will understand the advantages and disadvantages of trading stocks and trade CFDs.

Trading Videos
The Fortrade training center, which offers technical analysis tools, is offered free of charge. You can also repeatedly view your trading videos wherever you want, which will help you improve.

Video Tutorials
To help users learn more about topics like the high risk of losing money rapidly in trading, the Fortrade training academy of automated trading also provides trading videos on technical analysis, market analysis, trading psychology, and capital management. Additionally, participants will learn how to trade currencies and CFDs online using the Fortrader Web App.

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Fortrade Review: Our Verdict

Concluding our Fortrade review, we can undoubtedly say that this trading program is made to make online trading simple, fast, and welcoming. The forex broker has earned honors for its trading services and continues to grow as the most well-liked trading platform of the current generation. With this multi-asset broker, you can buy and sell almost any asset in several markets. Using trading CFDs, any asset may be traded.

Leverage, a demo account, carefully crafted training materials on money management, exceptional customer support, and the availability of trading tools are just a few of Fortrade’s outstanding features that assist and prepare new and inexperienced traders to handle any trading obstacles.

FAQs on Fortrade Forex Broker

Is Fortrade Legit?

Yes, Fortrade is governed by the FCA, and MiFID has permitted it to provide services in the EU. Customers in the United Kingdom are safeguarded by the Financial Services Compensation Scheme (FSCS).

Does Fortrade Have Trading Fees?

Deposit fees are not imposed by Fortrade, but withdrawal fees are, according to Telegraphic Transfer, which typically cost $40.

What Are the Deposit Methods for Fortrade?

With Fortrade broker, you can use various deposit options, such as bank transfers, Visa, Neteller, PayPal, Skrill, MoneyGram, and Bitcoin Payments

How Do I Make A Withdrawal At Fortrade?

Fortrade withdrawals can be made by filling out the online withdrawal form. These requests are processed within two days of being submitted.

What Trading Platforms Does Fortrade Offer?

The broker offers the MetaTrader 4 platform on desktop, mobile and web, and the Fortrader platform on mobile and web.

Risk Warning: Trading is always risky, even with a safe platform such as Fortrade. Here is its risk statement announced to all its users: When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses. Conducting transactions can lead to losing part or all of the initial investment. Before commencing operations, they urge you to ensure you understand the risks and have sufficient skills to invest.[/toggle]