ForTrade Review

User satisfaction and opinions are, to say the least, divided when it comes to ForTrade. Apart from the fact that they are affordable and friendly and have solid trading tools, we still somehow maintain the opinion that there are much better and better quality brokers on the market such as Plus500 and Etoro.

Fortrade is a fully licensed and regulated Forex and CFD brokerage owned and operated by Fortrade Ltd. The company is based in Great Britain and operates under license number FRN: 609970.

With over 300 trading financial instruments (Forex pairs and CFDs in commodities, 4 main cryptocurrencies, metals, energy stocks, shares and global indices...) they belong to the very top of the broker's offer today. If we add to that a diverse range of languages, support and customer care

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Fortrade offers two types of accounts: "Real Account" and "Demo Account" for risk-free trading practice.

Demo account

When opening a Fortrade Demo account with just a name, email, phone number and password, it takes less than a minute to get started. Initially, you are allocated 10,000 euros of virtual funds to practice trading in conditions that mirror the live trading environment on the Web Fortrader platform. The maximum leverage of the account is 1:100, which is doubled in the live account. It is important that traders can access all the trading tools and charts available in a live trading environment making the hands-on experience credible without incurring any of the risks that exist in trading live global markets with real assets. The great thing is that traders can set up a live trading account while maintaining a demo account allowing traders to switch between accounts, try out strategies in a risk-free environment, before trying the real thing.

Real Account

With a Fortrade real account, a minimum deposit of only 100 EUR is required to register an account for live trading. The maximum leverage available is 1:400, and the great thing is that the account has no commissions. With live trading, traders can choose from several platforms offering up to 300 currency pairs and CFDs in major cryptocurrencies, metals, commodities, energy, stocks and indices.

Platforms

Fortrade offers two types of platforms, its own Fortrader Platform and the MetaTrader4 Platform. They each provide downloadable software as well as web access and mobile store platforms, giving retailers complete flexibility anytime from anywhere, all you need is an internet connection.

Fortrade Fortrader

Intuitive and user-friendly proprietary software, Fortrader, is available on several platforms. Fortrader has many built-in features, order types and trading tools such as Currency Converter, Margin Calculator, Swap Calculator and Pip Calculator which greatly simplifies the trading experience. Also, web Fortrader can be accessed from different devices allowing access to a dynamic trading platform from any PC, MAC or mobile device. For mobile trading, the Fortrader mobile platform apps are available for free in the App Store and Google Play for all iOS and Android devices.

Fortrade MT4

Fortrade MT4 software has long been known as the most popular trading software on the market. Suitable for all experience levels and provides multilingual support and 9 timeframes for trading 300+ Forex currency pairs and CFDs. It has hundreds of integrated real-time charts and indicators, with the ability to trade automatically with Expert Advisors. MT4 Webtrader is available to download for PC and MAC users and a mobile trading platform for iOS and Android phones and tablets. MT4 apps are available on Google Play and the App Store.

Payment Methods

Fortrade offers a diverse range of payment methods that will suit users wherever they are. This includes familiar payment methods such as credit and debit cards, digital payment methods Skrill and Neteller and bank transfer. The time for processing withdrawal requests and the time required for funds to reach users varies depending on the chosen payment method, with an average duration of 2 to 7 business days. The minimum payout amount is €50, and information on minimum payouts is prescribed by the payment method at the time of registering the right account and selecting the deposit option.

Education

The education department is definitely a thing where this broker holds the top. From informative webinars and video textbooks, through an academy with e-books to various analyzes accompanied by comprehensive trading tools, Fortrade Education is one of the best currently available on the market. With these extremely useful tools for beginners.

Support

Excellent customer support is available 24/5 via the live chat function on the interface, telephone, e-mail and fax. The London address is on the support page along with email addresses for technical support and general enquiries. Knowing that your broker is there for you when you get stuck is essential.

Conclusion

As a relatively young player, ForTrade entered our premises through the big doors. Using marketing investments and methods of adapting to the market and clients through educations, webinars and support, they have certainly caught the eye of many traders. Although approachable and accommodating with good trading tools, due to a number of hidden fees, commissions and weak support, we would still recommend you to skip this broker and choose someone from our top list.

Positive

Coverage of 14 languages
Education

Negative

wide spread
reliability
user opinions
lack of information