FX.co ★ Fortrade - Broker rating, review and comments

About company

Today, the Fortrade brand unites three companies that provide intermediary services to traders:
1. Fortrade Ltd., a British broker regulated by the Financial Conduct Authority (FCA).
2. Fort Securities Australia Pty Ltd., an Australian broker licensed by the Australian Securities and Investments Commission (ASIC).
3. Fort Securities BLR, a Belarusian broker supervised by the National Bank of the Republic of Belarus.
For example, Fortrade Ltd. provides insurance up to £50,000 for traders’ non-trading risks. The inability to withdraw funds to third-party accounts completely excludes any possibility of money theft from customers' accounts. Unauthorized use of client funds by the broker is also prohibited. Such operations are carefully controlled by the supervisory authorities.

Trading conditions

• trading instruments: 52 currency pairs, energy, commodities, precious metals, CFDs, ETFs, stocks, and indices
• one trading account
• scalping
• MetaTrader 4
• OCO order
• hedging
• demo account
• separate account
• managed accounts
• deposit currency: USD, EUR, and GBP
• no interest rate for margin trading
• bonuses
• promotional offers
• free training: video tutorials, e-books, and lectures

Trading platform

Fortrade offers its clients trading on the popular trading platform - MetaTrader 4 (MT4), and the company’s own software - Fortrader Web. Both platforms are available for desktop and mobile devices. MetaTrader 4 is a user-friendly trading platform that provides traders with all the necessary resources and tools to analyze price movements in the financial markets. MT4 considerably simplifies the transaction execution procedure, as well as the creation and use of Expert Advisors and automated trading strategies. Direct access to an extensive selection of trading signals is considered to be an additional advantage of MT4. The company’s own Fortrader Web's trading platform does not require installation. It offers traders advanced features, secure investment management, and an easy-to-use interface. Fortrader Web and MT4 are in sync with the technology infrastructure that helps to manage client accounts across all platforms. This removes the necessity to open multiple accounts and makes it possible to keep investments in one account.

Support service

There are several ways to contact the Fortrade support service: email, phone, and live chat.

Traders’ reviews

Mostly, traders leave negative comments about their trading experience with Fortrade on the Web. Some unfortunate clients even call the broker a swindler and a scammer. Traders point out that the main drawbacks are problems with withdrawal of funds, loss of money from trading accounts, and absolutely no response from customer support.

Advantages:

• regulated broker
• plethora of trading instruments
• demo account
• hedging
• MetaTrader 4
• bonuses
• free training materials

Disadvantages:

• high minimum deposit
• high spreads
• limited selection of trading accounts
• problems with withdrawing funds
• plenty of negative reviews
• customer support neglects clients' requests