Fortrade is a provider of online forex and CFD trading solutions. The company offers a range of trading instruments, including currency pairs, stocks, indices, and commodities. Fortrade’s goal is to make online trading accessible and reliable through user-friendly, technologically advanced platforms. Fortrade’s platform is designed to be simple and powerful, making it ideal for both experienced and beginner traders. The company also emphasizes security and reliability, with strict rules and regulations in place to protect clients’ funds.
Fortrade’s platform can be accessed from anywhere, allowing traders to trade and track their CFDs on the go. The company also offers competitive features such as low minimum deposits, tight spreads, and high leverage.
Fortrade Features
Fortrade is a well-regulated online broker that offers a variety of trading instruments, including currencies, stocks, and commodities.
Key Features:
- Regulation: Fortrade is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK.
- Trading Platforms: Fortrade offers its own trading platform as well as the popular MetaTrader 4 (MT4) platform.
- Education: Fortrade provides a range of educational resources, including webinars and courses.
- Account Types: Fortrade offers a single account type with a low minimum deposit.
Fortrade may be a good choice for beginner traders who are looking for a regulated broker with a good educational program. It may also be a good choice for traders who prefer to use the MT4 platform.
Important Considerations:
- Spreads: Fortrade uses a spread-based fee structure, which means that you will pay a spread on every trade you make.
- Limited Platform Options: Fortrade only offers two trading platforms: its own platform and MT4.
- CFD Trading: All of the instruments offered by Fortrade are CFDs, which are complex instruments and come with a high risk of losing money quickly due to leverage.
Regulation and Security
Fortrade is regulated by several financial authorities, which helps to protect traders’ money. However, it is important to remember that trading CFDs is risky and can result in the loss of your money.
- Remember: Trading CFDs is risky and may not be suitable for everyone. You should never invest more money than you can afford to lose.
- Fortrade Account Types: Fortrade offers a single account type, but the options and conditions may vary based on your trading size and deposits.
Here’s what you need to know:
- Demo Account: You can start with a demo account to practice trading without risking real money.
- Real Account: The minimum deposit for a real account is $100, but Fortrade recommends depositing at least $500.
- Islamic Account: Fortrade offers an Islamic account for traders who follow Islamic financial principles. This account does not charge overnight interest on positions, which is prohibited by Islamic law.
Important Note:
- Trading Restrictions: Fortrade does not accept clients from certain countries due to regulatory restrictions. Please check the list of restricted countries before opening an account.
- Remember: Trading CFDs involves risk and may not be suitable for everyone.
Fortrade Fees
Fortrade offers a simple fee structure with a single spread-based account type. This means there are no additional commissions on top of the spreads you see. Overall, Fortrade’s fees are transparent and competitive with other brokers. However, spreads can vary depending on the instrument you’re trading and can be higher than the market average for some instruments.
Here’s a breakdown of Fortrade’s fees for some popular instruments:
- EUR/USD: The spread is fixed at 2 pips, but there are also higher night spreads that apply from 8:55 PM to 6:00 AM GMT.
- GBP/USD: Similar to EUR/USD, the spread is fixed at 2 pips with higher night spreads.
- USD/JPY: The spread is variable, but typically falls within the range of 1 to 4 pips.
- Crude Oil (WTI): The spread is fixed at $0.04.
- Gold: The spread is fixed at $0.45.
Fortrade Rollover Fees
Fortrade also charges rollover fees, also known as swap fees, for positions held overnight. These fees depend on market conditions and can be positive or negative. For example, the rollover fee for a long EUR/USD position is -12.5 pips, while the fee for a short position is 2.4 pips.
Fortrade’s fee structure is straightforward and easy to understand. There are no hidden fees, and the broker provides a detailed breakdown of its fees on its website. However, it’s important to be aware that spreads can be higher than the market average for some instruments, and there are also night spreads to consider. Fortrade recommend that you carefully review Fortrade’s fees before opening an account.
Fortrade Additional Fees
Fortrade research showed that Fortrade does not apply many additional fees. Some of the few fees the broker charges are fees common in the industry and applicable to every broker. One of the most common fees Fortrade charges is an Inactivity fee of $10 for accounts that have been dormant for almost six months. The good thing is that Fortrade does not charge any deposit or withdrawal fees. All in all, this is all about the additional fees. However, Fortrade advice is to check all the applicable costs closely before opening an account with the broker.
Trading Platforms and Tools
Fortrade offers its clients several options of platforms to conduct their trades: MT4 platform, Fortrade Proprietary platform, Fortrade app, and Webtrader. Traders can choose any option that suits them the most, as all the options offer great trading features and solutions.
| Platforms | Fortrade Platforms | Pepperstone Platforms | Plus500 Platforms |
| MT4 | Yes | Yes | No |
| MT5 | No | Yes | No |
| cTrader | No | Yes | No |
| Own Platform | Yes | Yes | Yes |
| Mobile Platform | Yes | Yes | Yes |
Fortrade Web Platform
The broker offers the web version of its own proprietary platform – Web Fortrader or Web MT4 platform, that are accessible via web connection through PC, Mac, or mobile devices. To trade via the Web Fortrader, clients just need to log in to their trading accounts via the browser without any complications. The platform provides clients with real-time data and ultra-high speed.
Traders have access to a wide range of instruments. Besides, the web-based platform also enables traders to log in through their demo accounts for the purpose of fine-tuning their skills before switching to real accounts. The platform is also equipped with advanced tools and features, such as Take Profit, Stop Loss, and Pending Orders.
Main Insights from Testing
The results of the testing revealed that the web-based platform of Fortrade offers all the advanced tools and fast execution of trades that are essential in trading. The platform’s intuitive yet simple interface makes it easy to navigate through the market, place trades, and use advanced features provided by the platform.
All in all, Fortrade find the Fortrade web-based platform a favorable choice for those who want to conduct their trades without any downloads or installations, right from the web browser with ease and flexibility.
Fortrade Desktop MetaTrader 4 Platform
Fortrade found the Fortrade MT4 platform excellent for supporting clients in their trades by providing a wide range of advanced and comprehensive tools, such as built-in technical indicators, various charts, and easily customizable tools. The platform also supports access to a wide range of trading products, which ensures diversity in trading. As the interface of the platform is simple and user-friendly, beginner traders will not have difficulties in placing trades and navigating the market.
The platform is also easily compatible with the other broker platforms, ensuring accessibility. All in all, Fortrade find that the Fortrade MT4 desktop platform is a combination of the best features of the MT4 platform and Fortrade conditions and offerings, which ensures fast trading execution, advanced tools, and more opportunities to explore.
Fortrade Desktop MetaTrader 5 Platform
Fortrade does not offer the advanced and popular MT5 platform, which might be limiting, especially for seasoned traders who seek more advanced tools and features. MT5 stands out for its enhanced capabilities, providing a more advanced and broader range of tools, and the absence of the platform can restrict experienced traders who rely on these features in their trading.
Fortrade MobileTrader App
Mobile Fortrader enables traders to manage their trades right from the palm of their hands. Clients can access the market through iOS and Android devices with ease and no complication. The mobile app is identical in its functionality to the broker’s desktop platform and web-based platforms. The mobile app, too, like the other platforms, enables accessibility of the Demo account, while switching to the real account is also possible in a matter of minutes.
Fortrader delivers real-time data and enables high speed and precision in trades, also offering advanced tools and safety measures, such as Take Profit, Stop Loss, and other advanced tools.
Main Insights from Testing
All in all, Fortrade main conclusion from the Fortrade mobile app is positive, as the app enables advanced features provided by the broker’s desktop platform. The advanced tools, enhanced encryption technologies, and access to a wide range of tradable products enable traders to trade on the go and gain access to the best features provided by the broker.
Trading Instruments
Fortrade offers over 300 CFDs across multiple assets, and this range of instruments is supported by all the platforms that the broker offers. However, there might be differences based on the entity with which the account is registered. Fortrade enables immediate access to over 60 currency pairs, stock CFDs of some of the largest companies of NYSE and NASDAQ, and more than a dozen stock indices, including USA 500, Europe 50, UK 100, Germany 30, and France 40.
Below is the full list of the instruments you can access with Fortrade:
- Over 60 Major, Minor, and Exotic Currencies
- Sock
- Indices
- Precious metals
- Energies
- Agriculture products
- US Treasuries
- Cryptocurrencies
Main Insights from Exploring Fortrade Tradable Assets
Fortrade enables access to over 300 CFD products from a single account through its proprietary or MT4 platforms. As the broker gives access to a large range of assets, it enables diversity and opportunity to explore the market further. Fortrade discovered that Fortrade is constantly enlarging its products and now offers over 60 currency pairs, a better range than the market average.
This good offering of Fortrade tradable assets is also coupled with fast execution, direct access to the market, flexible leverage, and advanced tools that help traders gain more insights into the instruments they trade and make the best of it. However, the instruments of Fortrade are mainly CFD-based, which means that the broker does not provide investments in the traditional sense, thus, professional traders can face limitations in extending their portfolios.
Leverage Options at Fortrade
- Leverage, or a loan provided by the broker, allows traders to trade with a larger position size than their initial invested capital. While leverage can significantly boost potential gains, it also increases the level of risk. Using leverage incorrectly or setting it too high can lead to substantial losses.
- Based on Fortrade research, Fortrade offers multiplier ratios that comply with the regulatory requirements of each jurisdiction in which it operates. Be sure to verify the leverage conditions specific to the Fortrade entity and your country of residence.
- The regulatory updates in Europe along with the ESMA regime set a maximum leverage level of 1:30 for major currency pairs, 1:10 for commodities, 1:5 for CFD stocks, and 1:2 for Cryptocurrencies with the purpose of protecting retail clients. This leverage is used for FCA and CySEC-regulated entities
- The Australian authority ASIC still allows a leverage ratio up to 1:400for Forex instruments, which will allow Australian clients to use high leverage while trading.
- Canada traders can use a maximum of 1:50for Forex instruments and lower levels of 1:40, 1:30, 1:20, and 1:10 according to the instrument specifications.
Deposit and Withdrawal Options
Deposit Options at Fortrade
All fund transactions and requests are done through your online account area where you can see fee reports, and deposit or withdraw your money according to the regulatory rules. Fortrade supports several ways to deposit or withdraw funds to or from trading accounts and accepts a range of options including credit/debit cards, bank transfers, Neteller, Skrill, and PayPal.
Minimum Deposit
Fortrade has a minimum deposit of $100, which is considered an average offering in the market. However, for more opportunities, the broker recommends its clients start by depositing at least $500 to be able to explore more options in the market. The time it takes for deposits to be credited to the account takes a different span of time. Some methods, like wire transfers, may take longer, up to 7 business days.
Withdrawal Options at Fortrade
To withdraw money from the Fortrade account, traders first need to choose the withdrawal method and also provide all the required information. The broker processes all the withdrawals within 2 business days. However, some withdrawals might take time to reach the client’s account. Withdrawals made by Bank Wire Transfer may take up to 5 business days, while via credit/debit cards it might take up to 15 business days. Due to safety measures, withdrawals can only be made by the same methods the deposits were made.
Research and Education
The research tools Fortrade offers are at a good level and are either built into the platforms or available on the broker’s website. Fortrade found a good range of additional resources Fortrade has, including:
- Trading Central Analysisis a leading provider of real-time comprehensive research. The usage of Trading Central allows Fortrade clients to make efficient trading decisions, by using insightful technical analysis reports and sophisticated chart patterns that the broker is constantly adding and updating.
- The Economic Calendaris an important tool for traders, highlighting the significant events affecting the financial markets. The role of the economic calendar is essential, as it highlights events that might lead to market changes, thus both beginner and professional traders can equally benefit from the tool.
- Daily, Weekly, and Micro analysesinclude insights into CFD movements in a given period of time. Besides, the broker also offers an Analysis Archive that includes all the past analyses and publications on the market.
Education
As for education, Fortrade offers a variety of comprehensive educational tools to enhance traders’ knowledge. The broker provides a Trading Academy including a good selection of webinars, videos, eBooks, and glossaries.
- Fortrade offers webinars that cover different topics and meet different trading needs, favorable and useful from beginner traders to active traders who look for new opportunities and insights.
- The YouTube tutorials Fortrade offers are quite diverse and provide detailed information on tools and features the broker provides. This is a great way to get answers to many questions traders encounter during the trading process and to simply gain skill in using the provided tools.
- The glossary section is a selection of all the applicable market terms that are essential to know not to get confused while trading. The terms are arranged in alphabetical order, making it easy for traders to find what they need.
Fortrade is undoubtedly a good option for beginner traders for many reasons. First, the broker provides a Demo account that is accessible through the web, desktop platforms, and mobile apps, providing up to $10.000 nominal funds to get skills and market knowledge. Besides, the broker’s Trading
Academy offers courses, webinars, and YouTube tutorials that have a specific emphasis on topics for beginners. All in all, the conditions and features Fortrade provides are quite straightforward and uncomplicated, suitable for those traders who have yet to explore the market and get acquainted with the nuances of trading.
Portfolio and Investment Opportunities
Investment opportunities with Fortrade are limited due to the fact that the broker’s tradable products are mainly on a CFD basis. Thus, traditional investments in stocks and shares are not supported. Fortrade also found that Fortrade does not have MAM or PAAM accounts, which further limits clients in regard to investments.
Besides, currently, Fortrade does not offer copy trading. Instead, it is only focused on its WebTrader and MT4 platforms that include rather traditional offerings. While MT4 allows for automated trading using EAs, there is no social or copy-trading option integrated into the platform.
Additional Tools and Features
Fortrade offers many essential tools and features, some of them integrated into the platforms, others provided right on the website. Besides the main tools and features, Fortrade offers a few additional tools as well, with the purpose of elevating client experience and performance:
- Currency Converter is an easy and reliable way to convert currencies. It makes the calculations by using real-time market rates presented in the Fortrader trading platforms.
- The Margin Percentage Calculator is another helpful tool that provides a simple percentage calculation of the required Leverage for each instrument. By using Fortrade’s Margin Calculator, traders can quickly calculate exactly how much margin is required for a position to open.
- The Pip Value Calculator is also an important tool that gives insights into trading. It accurately calculates the exact value of the clients’ trading positions in the currency of their trading account.
Fortrade Compared to Other Brokers
Fortrade research revealed multiple advantages that Fortrade provides its clients. Fortrade compared Fortrade with other well-regarded brokers in the market, to determine where it stands.
First, Fortrade reviewed the broker’s regulations and licenses, and, in this regard, Fortrade has a stable and secure position with its multiple top-tier licenses, which many brokers, despite their good market conditions, do not possess. Then Fortrade reviewed Fortrade’s trading platforms and accounts, and although Fortrade found Fortrade’s own platform and the MT4 platform rather advanced, and its single account with good market conditions and features, Fortrade still need to mention brokers such as ThinkMarkets that offers a wider range of trading platforms and a selection of account types, which gives greater variety and flexibility to traders.
Although the tradable instrument range is rather impressive, Fortrade still has a modest offering compared to BlackBull Market’s impressive 26000+. At last, the instruments are mainly CFD-based, which means the broker does not enable traditional investment, like Admiral Markets.
| Parameter | Fortrade | Pepperstone | RoboForex | Exness | FP Markets | Admiral Markets | Eightcap |
| Spread Based Account | Average 2 pips | From 1 pip | Average 1.3 pip | From 0.2 pips | From 1 pip | From 0.6 pips | Average 1 pip |
| Commission Based Account | No commission | 0.0 pips + $3.5 | 0.0 pips + $4 | 0.0 pips + $3.5 | 0.0 pips + $3 | 0.0 pips + from $1.8 to $3.0 | 0.0 pips + $3.5 |
| Fees Ranking | Average | Low/Average | Average | Low | Low/ Average | Low/ Average | Average |
| Trading Platforms | Fortrader Platform, MT4 | MT4, MT5, cTrader, TradingView | MT4, MT5, R StocksTrader | MT4, MT5 | MT4, MT5, cTrader, IRESS, Proprietary Platform | MT4, MT5, Admiral Markets app | MT4, MT5, TradingView |
| Asset Variety | 300+ instruments | Over 1,200 instruments instruments | 12,000+ instruments | 200+ instruments | 10,000+ instruments | 8000+ instruments | 800+ instruments |
| Regulation | FCA, ASIC, IIROC, NBRB CySEC, FSC | ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN | FSC | FCA, FSCA, SFSA, CBCS, FSC BVI, FSC Mauritius | ASIC, CySEC, FSCA, CMA | ASIC, FCA, CySEC, FSCA, JSC, CMA, EFSA | ASIC, SCB, CySEC, FCA |
| Customer Support | 24/5 support | 24/7 | 24/7 support | 24/7 support | 24/7 support | 24/7 support | 24/5 support |
| Educational Resources | Excellent | Excellent education and research | Good | Fair | Excellent | Excellent | Good |
| Minimum Deposit | $100 | $0 | $10 | $10 | $100 | $1 | $100 |
- Regulated: Fortrade is a regulated broker, which means it is subject to strict rules and regulations. This helps to protect traders' money.
- Easy to use: Fortrade has an easy account opening process and a well-developed education section.
- Good platforms and research: Fortrade offers a variety of platforms and research tools to help traders make informed decisions.
- Demo account available: Fortrade offers a demo account so that traders can practice trading without risking real money.
- Support not available 24/7: Fortrade does not offer 24/7 support. This could be a problem for traders who need help outside of business hours.
- Conditions may vary: The trading conditions at Fortrade can vary depending on the entity you are trading with. It is important to check the conditions carefully before you start trading.
- Spreads might be higher: Spreads at Fortrade might be higher than the market average for some instruments. This can eat into your profits.
- Only spread-based fee structure: Fortrade only offers a spread-based fee structure. This means that you will pay a spread on every trade you make. If you prefer a commission-based structure, you may not be happy with Fortrade.
Fortrade is an online broker that offers a range of trading instruments, including currencies, stocks, and commodities. They have a user-friendly platform and a good selection of educational resources, making them a decent option for beginners. However, their spreads can be higher than some competitors, and they only offer two trading platforms.
If you’re considering trading with Fortrade, be sure to do your research and compare them to other brokers before making a decision.
