Fortrade review (2022) Review
Currently, there are three regulated companies operating under the Fortrade brand: the British Fortrade Ltd., registered and officially authorized to conduct business in the United Kingdom of Great Britain and Northern Ireland, by the Financial Conduct Authority (FCA), company registration number (FRN): 609970, Australian Fort Securities Australia Pty Ltd. has a license from the Australian Securities and Investments Commission (ASIC), ABN: 33 614 683 831 / AFSL number: 49352 and the Belarusian LLC Fort Securities BLR, regulated by the National Bank of the Republic of Belarus, is included in the register of Belarusian forex companies at number 8.
There is only one account type available for Fortrade clients (not counting demo accounts). The choice of trading instruments in the Belarusian company is quite wide: more than 50 currency pairs, more than 20 stock indices of the US, Europe and Asia markets, more than 100 CFDs on stocks, CFDs on metals, futures, oil and agricultural products. The maximum leverage is 1: 200 (in a Belarusian company), in English, in accordance with the requirements of the ESMA directive, it cannot exceed 1:30 (for retail clients). Fortrade does not charge commissions for trading operations, the spread, for example, on the EURUSD pair is about 2 pips, which is the average value for the market.
Regulation is an important aspect as it forces the brokerage firm to operate under strict conditions and to ensure that everything happens in the best interest of the client.
We are pleased to inform you that this brokerage firm is very well regulated and therefore your money is safe. It meets the requirements of the UK Financial Conduct Authority, the Australian Securities and Investments Commission, and the National Bank of the Republic of Belarus. All these bodies, of course, create the conditions in which the firm must operate.
For trading, the company provides two trading platforms MetaTrader 4 and Fortrade. The last option is the broker’s authoring. Both platforms have several modifications adapted to figure on different devices. Another important plus of the broker is the availability of educational courses. On them, beginners have the opportunity to obtain the necessary level of knowledge for trading. In the courses of the company, you will be able to study the key aspects of technical and fundamental analysis.
Demo account and live account
Before investing in trading with a broker, you can test the resources available to him by opening a free demo account. In this case, you are not trading with real USD, but with conditional ones. To gain access, you will need to register on the fortrade.com website, indicating your personal data (name, phone number, e-mail) and giving permission to process them.
There is no time limit for training: you trade until your balance is zero (it has 10,000 conventional dollars). Subsequently, it will be possible to create a trading account from the same account by clicking on the „Switch to real mode“ button and replenishing the balance.
Live accounts are opened in euros, US dollars, Turkish lira, and British pounds sterling. There are 2 formats:
- The company here makes money on SWAPs, there is no commission for transactions. The minimum deposit is $ 100. The spreads for the Forex market are quite high: from 20 pips.
- No SWAPs, but with a commission for each lot (from 30 to 1400 points or 13% per annum for long positions, from 8 points or 12% for short positions). Spreads on currency pairs are determined by trading time (USD / TRY – 19 pts during the day and 54 pts at night, EYR / TRY – 24 pts during the day and 64 pts at night, GBP / TRY – 64 pts during the day and 104 at night, GAU / TRY and USD / RUB – a markup of 100 points).
The project is located at: https://www.fortrade.com and I must say that the site is done well, no complaints. The creators expect that they will not work on the market for a month or even that, therefore, the quality of the site is at the proper level.
In addition, the broker has launched its own online academy on fortrade.com, which hosts trading webinars with expert analysts and distance learning courses, plus extensive reference guides, e-books, videos and trading strategies are available.
Support is provided in a 24/5 format by phone (dedicated line for each country), e-mail, through the feedback form / online chat on the fortrade.com website. A FAQ section is available (Frequently Asked Questions and Help).
- many trading instruments;
- own trading platform in addition to MT4;
- regulation in Great Britain, Belarus, Austria.
- a small selection of options for funding a trading account