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Fortrade Review & Rating [yyyy]

Fortrade Review & Rating 2022

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ForTrade reviews are a must-read before you open an account. Is this a scam? Are they reputable forex brokers? ForTrade AtoZ Markets forex broker reviews provide more information.

We have reviewed this company thoroughly and are happy to recommend it. A wide variety of trading accounts are offered by this broker. The broker offers traders the chance to trade on many markets and products.

Fortrade was established in 2013, and has since earned a solid reputation for being a trustworthy, professional broker. CFD trading is offered on hundreds of asset types, including stocks, currencies, and commodities. Funds are fully protected by strict rules and regulations. They have a UK headquarters and are licensed by the Financial Conduct Authority. They offer an extensive education tool (webinars and training videos, as well as ebooks), which are great for beginners. Trading Central offers technical analysis at no cost. They also provide daily market updates, reviews and news that are easy to understand for newbies. The platform's easy-to-use interface makes it ideal for beginners and advanced traders. This review will take a deeper look at the offerings to help you decide if Fortrade is right for you.

Overview

Company
8/10
Trust
9/10
Trading Platform
9/10
Account Types
8/10
Costs
9/10
Customer Support
8/10
Regulation
7/10
Cryptocurrency
7/10

Company

8 /10

Fortrade offers 70 currency pairs, including minors, majors, and exotics. It is easy to use the currency trading system and you can see all spreads for each pair that you trade. These trades are free of commission.

Leverage of most currency pairs is up to 1:30. This is the maximum leverage you can get from a UK broker. The trader's risk tolerance and experience will determine the level of leverage that is most comfortable. New traders should be conservative while they gain experience.

Fortrade offers CFDs for hundreds of tradable instruments such as currencies, stocks, and commodities. The platform is simple and makes it easy for newbies to find good profit opportunities.

Fortrade doesn't withhold its leverage. CFDs can be used on more than 70 currency pairs and have leverages ranging from 1:20 to 1. Traders have the ability to easily trade world's top indices with a high leverage of as much as 1:20. You can also trade CFDs that include more than 20 of the most popular commodities in the world with leverages up to 1:10, over 140 EU Stock CFDs, and over 50 US StockCFDs with leverages up to 1:5.

There are a few of the most well-known digital currency pairs, such as Bitcoin, Dash, Ethereum, and LiteCoin. Due to volatility in cryptocurrency markets, the leverage ratio is naturally low at 1:1 - 1:2. DMA cash equity stocks have low leverage. ETFs that have leverage up to 1:15 and Leading US Treasury CFDs up to 1:10 are available to traders.

A wide variety of trading instruments allows you to build a portfolio that is diverse and can help you find the best opportunities for profit.

Fortrade offers crypto trading, but the selection is smaller than other brokers. There are many cryptocurrencies that can be traded, including Bitcoin, Dash and Ethereum. All of these cryptocurrencies are compatible with the USD. We found execution slow and spreads to be high, but this is normal when trading crypto due low volumes and high volatility. We found the crypto offering to be comparable to other brokers.

Pros and cons of ForTrade

Fortrade is easy to open an account and has a regulated broker license like ASIC and FCA. The education section is well-developed and platforms and research are at a high level. Also, costs are average.

Negative points include that there is not 24/7 support and that the conditions in each entity are different. Spreads may also be high for certain instruments.

Trust

9 /10

All client funds are kept separate from the accounts. This ensures that clients' funds are not accessible to creditors if the broker is in financial trouble. This provides additional protection for your funds. Deposit protection is available for up to PS50,000 if the company goes bankrupt.

SSL encryption is used to protect your data on the website. It is something that the brand takes seriously.

Many brokers display on their websites all the industry awards that they have won as a result their platforms' success. However, some brokers don't like to display these awards. Fortrade has not received any industry awards. Fortrade is not listed in any negative press, which is always encouraging. This, combined with the FCA-licensed broker, should make it easy to have no concerns after you've done your research on the platform.

Trading Platform

9 /10

Although there is a shortage of account types, there are plenty of trading platforms. 3 of these are exclusive to Fortrade. You can access the Web Fortrader platform from your desktop browser. The trading platform offers a wide range of tools, and the interface is very intuitive. The platform is flexible enough to allow for customizations, and it's a great fit for everyone.

The downloadable client is available on the desktop platform. It can be used on both Mac and Windows computers. The desktop platform is usually a little faster than the web browser version. The mobile platform is also available for download on Android and iOS devices. The mobile version is not limited in features, which is something that cannot be said about other mobile trading platforms.

MetaTrader 4 is an option for those who prefer to trade on a platform they are more familiar with. This platform is extremely popular in the industry. Traders who have previously used other brokers will most likely have used it before. This offering also includes the MetaTrader 4 mobile application.

Web Platform

Fortrader Web, Fortrader Desktop, and Fortrader Mobile are three versions of the proprietary platform that allow trading to be accessed from any device, whether it is a mobile device, a browser, or an installed version. All of this is done via powerful execution models using interbank quotes.

Desktop platform

The company offers the popular MetaTrader4 as an alternative. It is available in various formats for desktop, mobile and web. This platform offers many options for smart investments and trading, including EA strategies, leading indicators, oscillators and EA strategies.

Account Types

8 /10

This broker currently only allows you to open one type of account. Although other brokers may offer only one type of trading account, many will offer multiple accounts that are tailored for a specific trader.

You will need to deposit at minimum PS250 in order to get started with Fortrade. This account will require you to trade with a minimum size of 0.01 and a maximum leverage of 1:30. The demo platform allows you to open an account. You can use this platform to try out trading or to learn how to trade if you're a beginner. Your demo account will start with a balance of PS10,000.

Costs

9 /10

Fortrade charges a spread fee, which is the difference between the sell and buy price. This fee is comparable to that of other popular brokers.

Spreads on Forex markets are best for liquid currency pairs. Fortrade offers EUR/USD and USD/JPY at an average spread of just 2 pips. Spreads are usually higher for less traded pairs.

Spreads can vary depending on liquidity and volatility. Spreads in cryptocurrency have been volatile historically, which is why they tend to be the widest and most volatile. Bitcoin's average spread currently stands at 120$, with spreads for smaller cryptos ranging from $6 to $7.

The spreads of commodities and indices were generally in line with market prices, according to our analysis.

European stocks are 0.1 pip above the market. US shares are at 0.2 pip over the market which is again comparable to the larger market.

If you do not make a trade within 180 days after making a deposit, there is a dormancy charge. This is a monthly fee of PS10 that is due until a trade has been made or your account balance reaches PS0.

Fortrade allows you to use all the most popular payment methods to deposit funds to online brokers. These include major credit and debit cards as well as bank transfers and electronic wallets such Skrill or Neteller. Although it is recommended that you deposit at most PS500 the first time, it is not mandatory to deposit more than PS250. Your funds will be credited almost immediately to your account with most payment methods. The bank transfer option can take up to two business days.

The same payment options are available for withdrawals. Your funds will be withdrawn by e-wallets first, then debit and credit cards, and finally bank transfer. Brand does not charge fees for transactions. If you do not make a trade within 180 days of deposit, there will be a dormancy charge. The fee is PS10.

Fortrade offers several options to deposit and withdraw funds from trading accounts. It accepts all major credit/debit card, bank transfers, Neteller and Skrill, as well as a variety of payment methods, including PayPal, Neteller, Skrill, and bank transfers.

Fortrade charges no additional fees for withdrawals or deposits that are subject to local laws. There are many withdrawal options available, including cards, bank transfers and e-wallets such as Neteller.

Leverage 

The broker may lend a loan to the trader to leverage the funds. This allows you to trade with larger amounts than your initial capital. While leverage can lead to greater gains, it can also increase the risk of losing money. Leverage can be dangerous if it is set too high or wrongly.

Fortrade's leverage ratios are compliant with all regulatory requirements in every jurisdiction where it operates. Make sure you verify the leverage conditions for Fortrade entities and your residence.

Spread

Fortrade offers only variable spreads, which means there's no confusion about the fees. While fees for commodities are generally lower than other competitors, they are generally quite manageable. However, it is important to consider all trading proposals, as good fees are not the only thing that defines a good broker.

Customer Support

8 /10

Fortrade is committed to solving any client problems quickly. The FAQ section is the largest and most complete we have found. It answers many of your questions. To clarify any confusion regarding certain terms, you can also visit the glossary section.

You can send an email or give them a call to speak directly to the support team. Or you can use the live chat function to contact them. The support team is available 24 hours a day, 7 days a week. However, they are unavailable on weekends. For simple questions that need to be answered immediately, the live chat is ideal. The support team can accommodate for more than a dozen languages. This gives you great flexibility, even if English is not your first or second language.

You must also invest in education to learn how to trade successfully. Fortrade supports this effort by providing comprehensive educational tools and generating the best trading features.

There are many webinars and market research data available. Trading Central option and analysis can also be found at the client's disposal through Fortrade Academy. The platforms also have research tools that are either built into them or accessible at client resources.

Regulation

7 /10

The FCA is Europe's leading regulator and licenses Fortrade. Every move they make will be scrutinized in order to ensure everything is done properly.

Conclusion

Fortrade's review shows a user-friendly trading platform. It was designed to make online trading easy, quick and friendly. For beginners, the platform has a low initial deposit and offers educational programs that are well-developed. Professionals will also find many solutions to their trading problems.

Importantly, Fortrade offers a safe, secure and licensed trading environment according to their reputable regulators FCA, ASIC, and others.

Reviewed By

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