Fortrade is a multi-regulated broker that offers the MT4 and Fortrader trading platform to its clients for forex and CFD trading. Comprehensive analysis, training resources and trading tools are provided for both new and experienced traders.
Fortrade describes itself as a premier provider of products, services and platforms for online forex and CFD trading. The broker’s goal is to make online trading more accessible, enjoyable and profitable. Founded since 2013, Fortrade has been expanding its services around the globe. Its headquarters is located in London but it has offices in other towns around the world; Vancouver, Sydney, Limassol, Minsk, etc. The broker is regulated in several countries and accepts multiple payment options including ePayments and Bitcoin. In addition to Trading Central analysis, traders are presented with daily and weekly analysis powered by the internal Research team.
Buy and sell CFDs on hundreds of financial products with a multi-regulated broker and top-class trading conditions.
Fortrade is a broker that has invested in technology, hardware, software and human resources. Being a focused broker, Fortrade has been expanding in client base and physical locations. It is regulated in several jurisdictions and maintains adequate security. Clients have a choice of paying via bank transfers, cards, e-wallets, Bitcoin, etc. Traders may choose between two rugged platforms.
- Regulated broker
- Offers two professional platforms: Web Fortrader and MT4.
- Has a variety of trading instruments including bonds, ETFs, stocks CFDs from different countries, forex, precious metals, cryptocurrencies, agricultural products and energies
- In-depth analysis powered by Trading Central is provided to its clients
- Multiple training videos and eBooks to assist beginner traders
- The broker does not allow its services to clients from USA and Belgium
- $10 is charged monthly from dormant accounts
- No social trading or managed account for investors
On the Fortrade platforms, clients can trade multiple assets like: 6 digital currencies, 51 currency pairs, 17 indices, 10 precious metals, 5 energy products, 5 agricultural products, 3 US bonds, 3 ETFs and about 180 stocks CFDs traded in stock exchanges in Europe, US, Australia and Hong Kong.
Fortrade Instruments Summary
Commission and Spread Fees
Fortrade incorporates its trading fees into the spread and so, does not charge commissions. The spreads vary according to market conditions. The EURUSD has become an unofficial standard used to measure how high or low a broker’s spreads are. For Fortrade, the EURUSD has an average spread of 2.0 pips which is not tight when compared to its competitors.
Fortrade has no account types and special conditions attached; it is just a retail live account and a demo account. Trading accounts can be maintained in USD, EUR, GBP, TRY, AUD and CAD. Swap fees are charged or paid to accounts that have open positions by 5pm New York time.
If you are Muslim client, you can request a swap free Islamic account by contacting the client support desk after completing registration and verifying your account.
Demo accounts are free, limitless and risk free. It comes preloaded with $10,000 worth of virtual funds for trading practice or strategy perfection.
|Commission (per standard lot per side)||$0|
Deposit and Withdrawal Fees
Fortrade does not charge deposit fees but fees incurred while processing withdrawals are charged to the client’s account. For example the International Telegraphic transfer fee is usually $40, so it is passed to the client that requests an international bank transfer.
$10 or its equivalent in other currencies is charged from a dormant account every month. A Fortrade trading account becomes inactive if no trade position was opened from it for a period of 180 consecutive days.
Fotrade offers two platform options as follows:
This platform works on all browsers and needs no downloads or installations. It proprietary to Fortrade and is designed for all traders irrespective of experience or level. Below are some of its features:
- You can search and find assets easily and arrange your preferred instruments in the favourites list.
- Charts are detachable and multiple charts can be opened simultaneously.
- Up to 6 chart styles; candle, bar, coloured bar, line, mountain and baseline.
- Charts can be displayed on 9 timeframes; from one minute to one month.
- Full order management tools like pending orders, stop loss, trailing stop, etc.
- It has over 110 technical indicators for analysis.
- It comes with inbuilt tools like economic calendar, traders’ sentiments, etc.
MT4 trading platform
The MT4 is the most widely used forex and CFD trading platform in our world today. It has been chosen by traders due to its speed, versatility, complexity and powerful tools. Below are some of its features:
- The interface is simple, user friendly and can easily be customized.
- Its features and tools can be expanded through plugin apps built with the MQL4 coding language.
- It supports trade automation through expert advisors (EAs) built with MQL4 and installed on the MT4.
- It comes with access to the MetaTrader market where you can rent or purchase trading tools like signals, trading robots (EAs), technical indicators, etc. Some are free.
- Each trading instrument can be viewed on 3 chart styles and on 9 time frames.
- There are 24 analytical tools used in analyzing the charts.
- Though it comes with 30 technical indicators; you can add more through plugin apps.
- You can use market orders, pending orders, stop order, trailing stops, etc to place your orders.
The MT4 comes as WebTrader which is built with html5 and runs on web browsers. The premium version is the downloadable windows desktop version. Also, it has mobile versions for android and iOS devices.
Fortrade fully support mobile trading with 4 mobile apps:
- Mobile Fortrader for android
- Mobile Fortrader for iPad and iPhone
- MT4 for android
- MT4 for iOS devices
All apps can be downloaded from their respective stores. From the apps, traders can monitor the markets quotes, open and close trade positions as well as analyze the markets.
Fortrade Platforms Summary
|MetaTrader 4 (MT4)||✓|
|MetaTrader 5 (MT5)||x|
Fortrade has about 4 eBooks available for its clients at no costs. They are:
- CFDs and stocks eBook: A short introductory into stocks CFDs.
- Commodities and futures eBook: A 10-page book introducing some futures and commodities and how to trade them.
- Forex eBook: This book teaches beginners how forex trading works.
- Advanced eBook: It has 94 pages and it covers topics like trading psychology, capital management, market analysis, trading strategies and a glossary of terms. Each chapter ends with a revision exercise.
Almost every week, Fortrade schedules webinars to help its clients with recent happenings, trading insights, analysis and training.
Forex and CFD trading courses
This course is designed for beginner traders. It comprises of five video lessons that explains forex trading, trading terms, analysis, strategies and order types. The videos are animated, very clear and easy to understand.
Advanced trading course
This section has video lessons discussing about stocks, CFDs, commodities and futures contracts.
There are about six videos in this section training clients on technical analysis, trading psychology, capital management and global trading.
Top day trading strategies
Some of the strategies discussed in the videos are: Tunnel strategy, trend signal strategy, fractal strategy, wave tracker, zigzag strategy, fishing strip, fibo trap, T-chaser, zoom in and semi-automatic strategies.
Over 240 forex and CFD trading terminologies are defined in this glossary.
Fortrade has partnered with a leading financial research and technical analysis firm; Trading Central. This means that traders are furnished with trading tools and updated technical analysis on a wide range of trading instruments.
Market news and analysis
Fortrade provides its clients a daily market news and analysis on a range of trading instruments like currency pairs, gold, crude oil, indices, etc. There is also a weekly review and micro analysis presented by the Research department of the brokerage.
This calendar is vital in fundamental analysis because it shows exactly the time and date when important economic events will take place. It also shows the importance level, analysts’ forecast and previous impacts on a currency or financial instrument.
Fortrade also has the following tools to assist its traders:
- Currency converter
- Swap rates calculator
- Pip value calculator
- Margin percentage calculator
Fortrade Research and Education Summary
|Other (Currency converter and Trading Calculators)||✓|
You can fund your Fortrade account through bank transfer, debit and credit cards, Skrill, Neteller and Bitcoin. The minimum deposit is $100/£100/€100 or its equivalent but for bank transfer, the least amount is $250. Bank transfers may take up to 7 days before it reflects in your trading account. Depending on the acquiring banks, you may be charged some amount of money but internally, Fortrade will not charge for deposits.
Withdrawal requests are processed promptly. Bank transfers are usually completed in 5 working days while debit cards may take as much as 15 business days.
Fortrade Funding Summary
Fortrade operates in various jurisdictions where it is authorized and regulated as follows:
- Fortrade Ltd: is authorised and regulated in UK by the Financial Conduct Authority (FCA). Its registration number is FRN: 609970.
- Fortrade Canada Limited is authorized and regulated by the Investment Industry Regulatory Organization of Canada (IIROC).
- Fort Securities Australia Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC). Its license number is AFSL: 493520.
- Fortrade Cyprus Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20.
- LLC Fort Securities Belarus is authorised and regulated by the National Bank of the Republic of Belarus (NBRB), FRN: 193075810.
Fortrade Canada Ltd is a member of the Canadian Investor Protection Fund (CIPF) which insures that investors are compensated when a member firm becomes insolvent. So, if Fortrade closes down its operations, clients will be able to get refunds or compensations up to 1 million CAD.
Similarly, Fortrade UK is a member of the Financial Services Compensation Scheme (FSCS) which will compensate UK clients up to £85,000 if Fortrade brokerage collapses. Clients from the CySEC regulated jurisdictions are not left out; they will get €20,000 in the event of insolvency of the brokerage.
Furthermore, clients’ funds are held in segregated accounts and periodically audited to ensure strict compliancy with the regulatory standards.
Fortrade Regulation Summary
|SFC (Hong Kong)||x|
|Other (NBRB Belarus)||✓|
Fortrade meets all the necessary requirements to qualify as a safe broker. It is regulated in multiple jurisdictions by both tier1 and lesser regarded regulators. It meets the digital security standards of software implementations as well as strict client funds segregation.
Fortrade has prepared a Frequently Asked Questions (FAQs) page where several questions about its brokerage operations were answered. The broker has dedicated customer support team that is available 24/7. You can reach them by filling the web form on its website or sending an email. There are phone support lines available for more than 15 countries, if your country of residence is in the list, just call the support phone number. You can also get help by initiating a web chat on the website.
On social media; Fortrade is active on facebook, Twitter and YouTube.
Fortrade is a focused broker that is steadily growing from strength to strength. Regulated in up to 5 countries, the broker has continued to offer conducive trading environment to its global clients. Multiple assets including ETFs, US bonds and cryptos are available for trading on its proprietary and MT4 platforms. Trading on the go is fully supported via the Fortrader and MT4 mobile apps. Comprehensive analysis is provided by ‘Trading Central’ as well as the Fortrader Research team. Several training videos are provided especially for tyro traders.
However, its spreads are not very low in comparison with other top competing brokers. Also, there is no provision for investors; in form of social trading or managed portfolio. Summarily, Fortrade is good for new and experienced traders but they can still improve on its spreads and other services.