Fortrade

Fortrade Broker Review

Fortrade offers its clients a truly personalized trading experience with an emphasis on currency trading, among many other variations. The Fortrade platform works for traders of all experience levels, whether they are a new beginner or a seasoned vet. Fortrade is a relatively new company, established in 2013, but, in that short period of time, it has managed to make great leaps and bounds. This UK-based company provides a wide range of solutions for traders, as well as over fifty currencies, more than 250 stock CFDs, and dozens of commodities and indices.

Fortrade is a fully regulated and licensed broker who values the security of its clientele highly. Their financial statements are regularly audited by a UK accounting firm, Fisher Sassoon & Marks. One of the most attractive features about Fortrade is the amount of education it offers its clients. They have a “Forex Trading Academy,” glossary, courses, and more. They also provide real-time market analysis for a wide range of markets, keeping traders updated throughout the day. The education, range, and service received when you use Fortrade is unmatched by nearly every other broker in the industry.

Tradeable Assets

Fortrade has a wide range of tradable assets, including over 50 currencies, including USD/EUR, USD/JPY, GBP/USD, and more, dozens of indices and commodities, and 250 stock CFDs. The indices cover the European and Asian markets, and the stock CFDs are U.S.- and European-based. Gold and other precious metals, oil, agricultural commodities such as food crops, energies, and more are all offered to clients, with high leverage in all trading volumes across these categories.

Account Types

One of the most attractive features of Fortrade is the fact that it offers a swap-free account for Islamic traders. Fortrade offers one basic account type to its users. There is also a demo account, for those who want to practice first before putting down real money. The minimum deposit requirement is $100 to open an account at Fortrade. For the practice account, there is no time limit, and €10,000 is deposited into the account to start.

Type of broker

Fortrade is a CFDs and currency trading broker.

Regulation

Fortrade is regulated by the Financial Conduct Authority (FCA), under Firm Reference Number (FRN): 609970 The FCA protects consumers, financial markets, and promotes competition throughout the U.K.

Platforms

Fortrade uses the popular MetaTrader4 in web, desktop, and mobile. MetaTrader4 is an industry standard, as its reliability helps ensure smooth trading and fast execution of actions. Fortrade also has mobile, desktop, and web downloads of its own Fortrader software. Both of these software options are available for all traders, depending on their preference.

FP Markets Mobile Trading

Fortrade offers mobile trading for those who want to be able to trade on-the-go. They have the MetaTrader4 in mobile, as well as Mobile Fortrader. You can manage your account anywhere, at any time. The mobile platforms are available for iOS or Android.

Bonuses

At Fortrade, there are several attractive bonuses, both of which you will definitely want to take advantage. There are two main types: a balance bonus and a credit bonus. The balance bonus is standard, received when you make your deposit to your account. This bonus is applied at Fortrade’s discretion. The second bonus, a credit bonus, is an alternative bonus, to which terms and conditions apply. This is also at the broker’s discretion.

With the balance bonus, a client has to fulfil a .1 lot for every 1 GBP/USD/EUR requirement. Once he or she has fulfilled this requirement, that means that it becomes part of their capital and can be subsequently withdrawn. The credit bonus also has similar requirements, and a client can neither lose nor withdraw the bonus until the volume mandate has been fulfilled. More about these bonus requirements can be found on Fortrade’s terms and conditions page.

Deposit Options

At Fortrade, you have the option to use deposit options such as major debit/credit cards, bank wire transfer, Neteller, and Skrill. The minimum initial deposit value is €/$/£100.

Withdrawal Methods

The same methods for deposit are required for withdrawal. In many cases, you cannot withdraw more than you deposited. Withdrawals made via bank wire transfer generally take up to five business days to process, while credit/debit card withdrawals usually take up to fifteen business days to reach your account. If you need to make an alternative withdrawal, Fortrade allows you to fill out forms for bank wire and Skrill that will let you make this arrangement.

Customer Support

Client support includes email, live chat, and phone support and customer service is available 24/7.

Ease of Use

Overall, the Fortrade site is very easy to use. There is a wealth of information provided by the site, and most of your questions can be easily answered on their FAQs page. The tutorials and education, as well as all the analyses provided, contribute to this ease-of-use. Fortrade wants its traders to succeed, and it is clear that it does so through optimizing and increasing the amount of information available. Their choice for a single account type is uncommon in the industry, but it also stems from a desire to make trading simple. The markets are volatile and tricky enough; there’s no need to add stress where it doesn’t belong.

Why Trade at FP Markets

There are plenty of reasons to trade at Fortrade, but chief among them is their range of CFDs, information provided, attentive customer service, and industry-standard security. Fortrade cares a lot about its traders, and it offers simple solutions to those seeking to profit from the market. If you are a trader who values information, research, and simple account options, this broker is the right one for you. Note that CFD trading is risky, so it is best suited for experienced traders, although Fortrade does offer currencies, commodities, and other assets that beginners can take part in trading.

To see how FP Markets ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.