Founded in 2013, Fortrade is a regulated online broker focused on simple and accessible trading for all, providing user friendly platforms with a large amount of educational materials and a vast market analysis area. The broker has a generous selection of trading instruments along with a variety of convenient deposit and withdrawal methods,
Fortrade Review, Pros & Cons
- Strict regulation
- User-friendly platforms
- Competitive trading conditions
- Various account funding options
- Vast educational materials
- Trading central
- In-depth news & market analysis
- No fixed spread accounts
- No US clients
In this detailed Fortrade 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.
Fortrade is an online trading broker offering 24-hour market access to hundreds of trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs to individual and institutional traders across the globe.
Established in 2013, Fortrade pride themselves on being a transparent, secure, trusted and reliable broker with a large online trading community. They aim to make trading more accessible and enjoyable with simple yet powerful solutions for all levels of trader.
Fortrade offer a vast selection of educational materials and trading tools to help clients improve their trading knowledge and skills. Amongst the free resources are daily market analysis, video tutorials, trading courses, weminars, eBooks and more.
Fortrade offers the popular MetaTrader 4 (MT4) platform as well as their very own Fortrade web, mobile and desktop platform. The platforms have intuitive designs for friendly, simple and fast online trading whether you are a novice or advanced trader. They also include advanced technology for analysing the markets and executing trades.
Trading accounts can be opened with a minimum deposit of $100 whilst spreads and execution speeds are competitive compared to other online brokers. They also charge no commission on trades.
According to managing director Nick Collison, “Fortrade now serves over 10,000 private and institutional traders from across the globe, and continues to grow. We are not content to rest on our laurels and we continue to improve, innovate and develop products to ensure we offer the best to our customers. We believe that trust is essential to succeed in our industry, and we pride ourselves on our integrity, dependability and transparency. As a UK-based broker we are authorised and regulated by the Financial Conduct Authority (FCA). This ensures our commitment to safeguarding our customers’ interests and adherence to the FCA’s Treating Customers Fairly code.”
Fortrade are regulated and hold client funds in accordance with strict rules and regulation. Regulation helps to give clients the peace of mind that they are using a reliable and trusted broker in addition to having advantageous trading conditions. Fortrade’s motto is “trust and transparency in all that we do”.
Fortrade Ltd.is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
Fort Securities LLC. is authorised and regulated by the National Bank of the Republic of Belarus (NBRB) in Belarus.
Fort Securities Australia PTY LTD (T/A Fortrade Australia) is licensed and regulated by the Australian Securities and Investments Commission (ASIC).
Fortrade Canada Limited is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Fortrade accept clients from most countries excluding residents of the United States, Japan or Belgium and any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Some Fortrade broker features and products mentioned within this Fortrade review may not be available to traders from specific countries due to legal restrictions.
Fortrade clients can choose between the popular MetaTrader 4 (MT4) trading platform or Fortrade’s very own platform. Both platforms are available for desktop, web and mobile.
MetaTrader 4 (MT4) Desktop
The MT4 desktop platform allows you to trade global markets from your PC or laptop. It streams hundreds of real time price quotes and charts from a range of trading instruments across different markets. You can view charts on multiple timeframes and use the built-in technical indicators to analyse charts for potential trading opportunities.
There are a range of order types available, trading strategy templates, drawing objects and alert notifications. MT4 also supports custom indicators and automated trading strategies commonly known as expert advisors (EAs).
Although Fortrade only offer the MT4 desktop platform for windows, it is available from other brokers for Mac.
MetaTrader 4 (MT4) Mobile App
The powerful MT4 app includes all of the advanced capabilities of the traditional desktop version, offered in an intuitive and feature-rich package. It is available for download on both Android and iOS from the relevant app stores.
MetaTrader 4 (MT4) WebTrader
The MT4 WebTrader is accessible from all major PC and Mac browsers, without needing to download or install any software. It provides you with access to over 300+ CFD asset classes including forex, stocks, commodities, indices, ETFs and Bonds, all from directly within your web browser. The WebTrader maintains all of the advanced capabilities of the traditional desktop version.
The Fortrader desktop platform allows users to trade 150+ forex currencies and CFDs with the intuitive software, benefitting from the accuracy and functionality of fully-automated trade executions. You can download and access the feature-packed platform to conveniently and securely place orders online.
The platform displays live-streaming price quotes, charts and has built-in technical indicators to help your market analysis and get the most out of your trading strategies. It has a flexible and user-friendly interface that allows you to control and customise your trading environment in a way that best suits your trading style and strategies.
The Fortrader web platform gives instant access to the global financial markets without needing to download or install any additional software. Users can enjoy a reliable trading solution via an internet connection and most modern browsers, accessible in just a few clicks of your mouse. You can open, modify and close positions – in the office, on your holidays or during any other situation you please – provided there is an internet connection. It’s fully synced, quick and easy to use.
The Fortrade mobile app enables you to stay connected and manage your account from anywhere in the world and at any time. You can easily and effectively turn your Android or iOS device into a virtual trading desk from within the palm of your hand. The mobile platform is available for download on both Android and iOS.
Fortrade Trading Tools
Fortrade have a selection of useful trading tools including trade calculators, currency convertor and trading central.
Fortrade have partnered with Trading Central to offer a complete package of technical analysis tools to help improve your trading skills and to understand the basics of charting.
Its technical analysis outputs, charts and indicators are based on information collected from a consortium of investment banks and asset managers.
Trading Central can assist with trading decisions and is constantly being updated with more insightful technical analysis reports and sophisticated chart-pattern recognition tools. It is simple to use and can be located in the platform’s chart section on the desktop, web and mobile platforms.
Currency Converter Tool
The currency converter tool uses real-time market rates to convert your predefined amount to and from various currencies.
Margin Percentage Calculator
The margin calculator provides a simple percentage calculation of the required leverage for each tradable instrument offered by Fortrade. This enables you to calculate exactly how much margin is required in order to open a position, and adjust its size accordingly, if necessary.
Swap Rates Calculator
Swap rates determine the costs for holding a position overnight. This occurs at 21:00 GMT time, on any trades held open at this time. You can use the swap calculator to quickly calculate the swap fees that you will be charged, based on the instrument, account currency and trade size.
Pip Value Calculator
The pip calculator finds out the exact value of your trading positions in the currency of your trading account. This can help to understand how your trade sizes are being calculated.
Fortrade have a free online trading academy with a range of useful resources for improving traders knowledge and skills. There are webinars, eBooks, trading courses, trading videos, video tutorials, trading strategies, news and market analysis.
Fortrade offer professional and free online webinars covering a range of trading topics such as market analysis (technical & fundamental), money management, technical indicators, trading psychology and much more.
The trading eBooks offer a detailed overview of the markets and trading principles. They are a good place to get started and learn more about trading with a good variety of topics covered.
Fortrade offer beginner and advanced trading courses covering a wide range of topics including different markets, trading strategies, types of orders, terminology and more. These courses are fun and easy to follow, in bitesize digestible slides.
The trading videos are very professional and detailed, providing a wide range of advanced education on numerous topics ranging from market analysis, trading psychology, technical and fundamental analysis and more. The videos are fun and friendly, suitable for all trader skill levels.
Fortrade have a collection of video tutorials covering various trading topics and how to use Fortrade services. There are videos for opening accounts, using trading platforms, conducting chart analysis, using trading tools and more.
Fortrade share some trading strategies that can be used as stand alone strategies for market analysis or implemented as part of another strategy.
Glossary of Terms
The glossary of terms contains frequently used trading terminology and definitions.
News & Market Analysis
Fortrade have a frequently updated analysis area that covers daily / weekly / historical analysis which can be used for finding potential market opportunities and to assist with strategies. Analysis is very detailed with technical and fundamental analysis covered across multiple markets. There is an economic calendar that displays upcoming news releases at possible impact on the markets.
Fortrade offers traders over 300+ CFD products across a range of asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs.
They have more than 60+ forex currency pairs based on majors, minors and exotics. There are 20 indices, 180 stocks, 5 metals including gold and silver, 5 types of energy including gas and oil, and 5 types of soft commodities.
Fortrade Accounts & Fees
Fortrade offer a demo practice account and real trading account. They do not charge a commission and instead add costs into the spread which is marked up. The minimum deposit required is $100 which provides access to all platforms and trading products. Islamic swap free accounts that comply with Sharia law are also available.
Traders who qualify as a professional client can apply for a professional account. To be eligible for a professional account you need to have traded in significant size an average frequency of 10 times in each of the last 4 quarters on CFDs or forex, have an investment portfolio of + €500,000. (Including cash savings / financial instruments), have worked for at least one year in the financial sector in a professional position, gaining knowledge of CFD and forex trading. Whilst a professional account can give EU traders leverage of up to 1:200 instead of 1:30, it also reduces the protection offered from the broker.
If for any consecutive period of 180 days, you do not trade on your account then Fortrade will deem the account to be inactive or dormant and charge you an administrative fee of $10.00 which represents Fortrade’s administrative cost of continuing to operate the inactive account. The fee is deducted from the client account balance following the expiration of the grace period and every thirty days thereafter.
As broker fees can vary and change, there may be additional fees that are not listed in this Fortrade review. It is imperative to ensure that you check and understand all of the latest information before you open a Fortrade broker account for online trading.
Fortrade offer multilingual customer service 24/5 via online chat, telephone and email. There are international telephone numbers and the live chat is very prompt to attempt to answer questions. Support are happy to answer any questions you may have about Fortrade products or services. They also welcome any feedback or comments.
Fortrade Deposit & Withdrawal
Fortrade accept a range of funding options including all major credit/debit cards, bank transfers, Neteller and Skrill. The method you opt for may depend on how long it takes to process. If you want something quick then you may consider an online payment processor. Please note that some methods may only be available to specific countries.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods can be instant.
Accounts can be opened in GBP, EUR, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Fortrade Account Opening
Opening an account to start trading at Fortrade is quick and easy. You simply complete the short account opening form and verify your account with some form of identification and proof of address such as a passport and utility bill. Once verified, you can create a free demo practice account or fund your live account and start trading on the MT4 or Fortrade platform desktop, web and mobile platforms.
Fortrade is regulated and offers a good range of trading instruments on flexible trading platforms suitable for different trader skill levels. The educational materials provided are extremely vast as is the market analysis area, whilst useful trading tools are available.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.