FortFS is an online broker that offers a range of powerful trading platforms for multiple devices along with flexible trading accounts for all types of trader. However, they have a limited range of trading instruments and are only regulated offshore. The brokers fees are also not the cheapest and you can find tighter spreads elsewhere.
FortFS Review, Pros & Cons
- Access to trade on the MT4, MT5, CQG or NinjaTrader platforms
- Managed accounts are available
- Social trading for copying signals of other traders
- Daily technical & fundamental market analysis along with trading signals
- Offshore regulation
- Clients from USA are not accepted
- High commission fees & not the tightest spreads
- Limited trading instruments compared to other online brokers
- Incomprehensive market analysis which is only focused on a few assets
- Top accounts require large deposits
In this detailed FortFS review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FortFS is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including FortFS.
FortFS Review: Summary
Fort Financial Services was founded in 2010 with the vision to provide online brokerage services in forex, CFDs and futures markets. The broker is registered in St. Vincent and the Grenadines but has other offices in Malaysia and Indonesia. The brand offers over 500 assets for trading on its platforms.
The broker offers a variety of account types to cater for beginners, experienced and expert traders. Up to 4 professional trading platforms are available for the trading and analysis needs of clients around the globe. Multiple account funding options are also available.
FortFS operates the Straight through processing (STP) brokerage model. They have reasonable trade execution speeds, which start from 0.1 seconds. These are achieved through the Interbank ECN liquidity.
FortFS has won over 25 trading awards which were given to honour the broker for its trading services. Some of the awards include the “Best ECN/STN Forex Broker” which was won at the Shanghai Forex Expo in 2015 and the “Best Execution Broker” given by ‘forex-awards.com’ in 2017.
FortFS Review: Regulation
Fort Financial Services Ltd is incorporated in St. Vincent & the Grenadines as an International Business Company with the registration number 25307 BC 2019.
FortFS also states that the company is licensed by the International Financial Services Commission of Belize with an international financial brokerage license, IFSC/60/256/TS/17 which was issued on 15 April 2013.
The company states that it is committed to the ‘Anti Money Laundering’ (AML) policy and the ‘Know Your Customer’ (KYC) policy. This is in compliance with international laws to prevent financing terrorism, money laundering and other financial crimes. To this effect, all clients are verified using KYC procedures which involves uploading a government issued valid identity card and also uploading a utility bill. Politically exposed clients are not allowed to register for FortFS services.
To try and protect its clients from internet fraudsters, FortFS protects all its websites and clients with industry standard security measures. This includes the implementation of SSL technology which ensures that all user info is encrypted before it is transmitted over the internet. This protects user sensitive info like debit card details, ID cards, date of birth, etc, from being intercepted by internet identity thieves and hackers.
FortFS Review: Countries
FortFS states clearly that its services are not available to United States residents. Some FortFS features and products mentioned within this FortFS review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
FortFS Review: Trading Platforms
NinjaTrader is professional trading software designed in 2003 by the American company ‘NinjaTrader Group LLC’. The platform is full of complex tools for chart analysis, advanced trading and trading systems development. NinjaTrader already has over 1,000 plugin apps and numerous users from all over the world. FortFS clients can trade on this platform with a minimum deposit of $10,000. NinjaTrader is only available as a downloadable Windows desktop application, no WebTrader and no mobile trading apps are available.
Here are some of the core features of the NinjaTrader platform:
- Advanced Trade Management (ATM) minimizes risks to the trader and offers multiple trading options.
- Easily design, test and deploy your own trading system.
- Complex charting features that include 16 chart styles.
- Over 100 inbuilt technical indicators.
- The ‘Market Replay’ tool downloads historical data which can be used for analysis and testing.
- Comes with the ‘Market analyser’ which scans the markets and notifies the trader when it finds a trading opportunity.
This is a trading platform designed for fast trade execution speeds and direct access to trade on multiple exchanges. It was developed by an American based company with the same name. A minimum deposit of $15,000 is required before a FortFS client can trade on this platform.
CQG is priced as follows:
- WebTrader: Runs on the web browser and available at no cost.
- CQG Mobile: Downloadable for Android and iOS devices at no cost.
- CQG QTrader: For trading futures, options and spreads; Available at $40 per month
- CQG Integrated Client: This is the flagship version and it costs $595 per month.
Here are some of the primary features of the CQG trader:
- Direct market access to trade on more than 40 exchanges.
- Over 200 elements of market data.
- Synthetic and stock spreads.
- It has the DOMTrader which shows the market transparency.
- Complex charting and analytics using CQG TFlow charts.
- Multiple order types and risk management.
- Easily pull real-time market values into Excel worksheet through RTD syntax.
MetaTrader 4 (MT4) is one of the most popular trading platforms that is used by traders all over the world. The platform is user friendly, versatile and has lots of tools for trading and conductin market analysis. The FortFS MT4 is available as follows:
- MT4 Desktop: This is the flagship version built for Windows computers. FortFS also provides the desktop version for MAC OS.
- MT4 Multiterminal: This version is built for money managers. It can trade multiple accounts in one click.
- MT4 Mobile: This version is downloadable on iOS and Android devices. It is designed for monitoring, analysing and trading the markets while on the move.
- MT4 WebTrader: This version runs on the web browser without needing to download or install any additional software.
Here are some of the main features of the MT4 trading platform:
- Real time bid/ask price quotes in the market watch window.
- One-click trading and trading from the charts.
- Scripting, testing and installation of Expert Advisors (EAs) which automates trading strategies.
- Complex charting over 9 timeframes and multiple chart types.
- Preloaded with up to 30 technical indicators.
- Features can be extended using add-on apps that are developed using the MQL4 language.
- Multiple order types and risk management tools.
- Price alert notifications via SMS, email & pop-ups.
MetaTrader 5 (MT5) is a trading platform that was designed to replace MT4, although the former remains perhaps more popular. MT5 comes with most of the same core features as MT4 plus additional capabilities and new features. It is an advanced trading platform best for professional traders. FortFS MT5 is available as WebTrader, mobile apps for Android and iOS devices and also as desktop applications on Windows and MAC OS.
Here are some of the core features of the MT5 trading platform:
- Depth of Market tool which shows the depth of liquidity available in the market.
- Support the use of MQL5 to script plugin apps.
- EAs for automation of strategies.
- Multi-currency strategy testes to back test EAs over historical data.
- Allows as many as 100 charts to be opened simultaneously.
- Complex charts with 3 chart styles displayable over 21 timeframes.
- Preloaded with 38 technical indicators which can be extended to thousands using plugin apps.
- Comes with the economic calendar.
- Price alert notifications.
FortFS Review: Trading Tools
Virtual Private Server (VPS)
A VPS is often needed by traders who require reliability, fast connections or those who use EAs and other trading systems that they need to run around the clock. A VPS can run your trading platform 24/7 without you needing your own computer switched on as you access it remotely. FortFS provides VPS at no cost to all clients who maintain a minimum balance of $1,000.
This calculator helps the trader to calculate the margin, trading costs, swap fees and size of the contract. The trader just needs to input the asset he wishes to trade, lot size, leverage and account currency. This can help when planning your trades and with your money management strategy.
Short Term Assets Revenue (S.T.A.R)
This is an investment service where an investor can choose a manager based on his performance history. The investment managers trade on behalf of the investors and any profits are shared. There is no guarantee in the performance of this managed service and historical results should not be relied upon as an indication of future results.
The calendar of economic events is available on the website. Like the name suggests, it shows the exact date, time of an economic event and also its estimated impact on the price of a given asset. It also shows the history and compares it with the forecasts made by the analysts. Traders who use fundamental analytical methods will most likely require this tool as part of their analysis.
Fundamental & Technical Analysis
The FortFS analysis occurs several times a day and focuses on some selected assets including forex currency pairs and commodities. The analysis is prepared by FortFS experts and it is based on the latest market news and price movements. They include potential trading ideas based on the analysis.
The FortFS trading signals focus primarily on the major forex pairs and are frequently updated.
There is a social trading platform offered by FortFS where subscribers can automatically copy the trades from a master account. Subscribers are presented with ratings and statistics based on the performance of the master accounts. They can choose an account to copy, make a deposit and activate CopyTrading. The subscriber can monitor his trades or stop his subscription anytime. Past performance of the copy trading signals is by no means a guarantee of future performance.
FortFS Review: Education
The educational section of the FortFS website has multiple sections. Each section focuses on a topic and contains a training article. The lessons are on forex, trading platforms, technical and fundamental analysis, trading psychology and automated trading. The articles are well written with detailed examples, graphical illustrations and a professional approach.
To further help new clients, a glossary of trading terminology is provided on the website. It contains over 220 forex trading terms along with their detailed explanations.
FortFS Review: Trading Instruments
The following instruments are available for trading on the MT4/MT5 platforms.
- 50 Currency pairs.
- 22 Indices.
- 53 Stock CFDs.
- 13 Cryptos.
- 40 ETFs.
- 56 Commodities.
FortFS Review: Trading Accounts & Fees
The following trading account types are available at FortFS:
- Newbie: This account is designed for beginners as the name suggests. 10% compensation is given back to the traders on losing trades. The minimum deposit is $5 and the account is denominated in Cent. The floating spreads start from 0.3 pips and the maximum spread is 1:1000.
- Fort: The minimum deposit is $5 and the maximum leverage is 1:1000. Fixed spreads are offered that start from 2 pips on forex. Execution is instant, no commissions are charged on forex but a minimum of $10 is charged on CFDs.
- Flex: The minimum deposit is $5 and the floating spreads start from 0.3 pips. The maximum leverage is 1:1000
- Pro: This account is designed for professionals. It offers ECN liquidity resulting in low spreads and executions from 0.1 seconds. The maximum leverage is 1:100 and floating spreads start from 0.1 pips. The minimum deposit is $500 and a commission of $9 is charged on trades.
Swap free accounts are available for the Fort and Flex accounts. Newbie accounts are swap free and there are no swap free Pro accounts. Demo accounts are free and unlimited on the MT4 and MT5 platforms. Demo accounts are available on the NinjaTrader platform but it expires after two weeks. A demo account can be a good way to test different trading strategies and platforms before trading with real money.
As broker fees can vary and change, there may be additional fees that are not listed in this FortFS review. It is imperative to ensure that you check and understand all of the latest information before you open a FortFS account for online trading.
FortFS Review: Customer Service
The FortFS customer support team works from 5am to 11pm from Mondays to Fridays. They can be reached on phone, email and online web chat. A ‘Contact Form’ is also available on the website and can be used to reach the support team. Registered clients can also reach the support team via web call which is powered by zangaya.com. On social media, they can be reached through Telegram, Facebook, Twitter, Instagram and YouTube.
FortFS Review: Deposit & Withdrawal
- Debit/Credit Cards: The accepted cards are Visa and MasterCard. The minimum transaction amount is $20 and there are no deposit fees. For withdrawals, the commission is 2.5%
- WebMoney: The minimum deposit is $5 while the minimum withdrawal amount is $0.1. No commissions are charged.
- Perfect Money: The minimum deposit is $5 while the least withdrawal amount is $0.1. A commission of 1% is charged on all transactions.
- Skrill: The minimum deposit is $20 while the minimum withdrawal amount is $0.1. Skrill transactions are free of any charges.
- QIWI: The minimum deposit is $5 while the minimum withdrawal amount is $0.1. No transaction fees are charged.
- Neteller: The minimum transaction amount is $5 and no commissions are charged.
- FasaPay: The minimum transaction amount is $5 while a commission of 0.5% is charged for both deposits and withdrawals.
- Local transfers: This involves bank transfer between banks in the same country. It is available in Malaysia, Vietnam, Thailand and Indonesia. The minimum deposit is $20 while the minimum withdrawal is $15. Local transfers are usually completed within a day and attract no charges.
FortFS Review: Account Opening
It is simple to create a new trading account with FortFS. Visit the website and click on the ‘Open Account’ button which is at the top of every page just above the menu bar. The page showing all the four account types will be displayed. Click on the ‘Open account’ button under the account type that you wish to open. The registration form displays.
Fill in your country of residence, email, password and check ‘I am not a robot’, then click on ‘continue’. A second page asking for personal details displays after which email confirmation is required. After email confirmation, the account is opened and you can login to the traders’ room where you can complete your profile, complete KYC verifications, make deposits and commence trading when you feel ready to do so.
FortFS Review: Conclusion
Founded in 2010, FortFS is an award-winning broker that provides multiple trading platforms for its clients. The platforms provided are sophisticated and suitable for all levels of trader. They are also flexible as they can be used across multiple devices.
The multiple account types including the ‘Newbie’ account shows that this broker accommodates all types of traders. With demo accounts, social trading, managed accounts and educational resources, beginners have adequate resources to learn or invest. There is no large minimum deposit thereby eliminating the need for a huge trading capital before one can commence live trading.
FortFS is regulated by the IFSC Belize and affirms its adoption of the AML and KYC policies. It should be noted that this regulation is not considered the strongest and most reputable by industry experts. Most would strongly advise against trading with brokers who have offshore regulations such as this. Though the broker looks credible on the surface, FortFS would do well to add another regulator to boost its credibility to compete with those who have FCA, CySEC and ASIC regulation.
Furthermore, this brokers fees and spreads are not the lowest and the asset range is limited when compared to other online brokers.
Trading in financial markets involves substantial risks, including complete possible loss of investment capital. This activity is not suitable for all investors. High leverage increases the risk (Risk Disclosure). Client has the right to refuse services company. In this case the refund is carried out according Client Agreement and Refund Policy.