ForTrade Review

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

Fortrade Review – Is it scam or safe?

Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Spread
Live $100 0.01 1:200 2 pips on EUR/USD

This forex broker offers its clients just one live trading account type with leverage up to 1:200, micro tradeable lots and no commission fees.

The Company

Company Country Regulation
Fortrade Ltd. UK FCA

Fortrade is the trading name of Fortrade Ltd., a UK-based company authorised and regulated by the Financial Conduct Authority (FCA).

It was established in 2020, and now it offers a wide range of trading instruments covering more than 150 currencies, as well as commodity, index and stock CFDs through their in-house platform, as well as the MetaTrader 4.

Security of Funds

Fortrade Ltd., operating under the brand Fortrade, is duly licensed and regulated by FCA. UK-regulation is famous for its strictest standards and supervision. To acquire a license from the UK financial watchdog, brokers have to prove their financial stability and to meet a number of requirements. For instance, clients` funds are to be kept in segregated bank accounts separated from the company’s operating funds. What is more, regulated companies must hold a minimum of €730 000 to be considered financially stable. Similar minimum capital requirements apply in other jurisdictions: Australian brokers are obliged to possess at least $ 1 million; Cyprus-based brokerages are required to hold € 1 million; and US forex brokers must possess $ 20 million.

Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person per regulated firm.
Here is a list of more FCA-regulated brokers.

Trading Conditions

Minimum Initial Deposit
Fortrade recommend a minimum initial deposit of 500 EUR/USD/GBP, however it is possible to start trading with just €100. This is an average minimum initial deposit. In comparison, other UK-based forex brokers, like FxPro, require $500, and XM for instance demands just $1 from traders to start with.

Spreads & Commissions
Fortrade charges no commissions, as it gets its remuneration through the spread. This broker offers fixed spreads, amounting to 2 pips on EUR/USD, which is average for the market. Yet, trading costs with other brokers are lower. For example, FxPro provides average variable spread of 1.4 pips on the EUR/USD for its commission-free MT4 accounts.


Leverage

This broker offers different maximum leverage levels, depending on the instruments traded: 1:50 for indices and commodities CFDs, 1:10 for stock CFDs and 1:200 for most currency pairs.

A maximum leverage level of 1:200 is standard for the forex market. If you need higher leverage, other UK-based brokers provide such: HY Markets – 1:300; Admiral markets – 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.

Leverage allows traders to gain large exposure to diversified markets with a relatively small amount of invested capital, however it is healthy to keep in mind that the higher the leverage ratio, the higher the risk. Leverage is a double-sided coin.

Trading Platform

Fortrade offers its services on two trading platforms, its in-house Fortrader and the the popular MetaTrader 4.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

Fortrader is available as desktop, mobile and web versions available. This is its proprietary platform, which is very simple and easy to use, yet traders who are used to the advanced features offered by MT4 may find it too simple and not very handy.

Besides, Fortrade supports the most common platform for currencies trading, MT4. It also is available in all forms and shapes, for desktop, web and mobile users. This platform is highly valued for its reliability, ease of use, and top notch professional tools and features: great charting package, wide range of Expert Advisors, indicators, backtesting options, etc.

Welcome Bonus

Like many other brokers, Fortrade also offers a welcome bonus, amounting to 30% of the first deposit (up to €3000). The deposit must be €100 as a minimum and the bonus expires within 90 days.

Bonus monies may be used for trading only and cannot be withdrawn until account trading volume reaches 10 000 base units for every €1 bonus.

Methods of Payment

Fortrade’ s clients can make deposits and withdrawals from and to their accounts via credit/debit cards, bank transfer, wire transfer, Skrill and Neteller.

Conclusion

Fortrade is a well-regulated UK-based broker offering trading in forex and various CFDs under competitive trading conditions. To sum up the above, here are the Pros & Cons in relation to this broker:

Pros Cons
FCA-regulated Only one account type offered
30 % on deposit welcome bonus
MT4 available, as well as in-house platform
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

One more step

Please complete the security check to access scambroker.com

Why do I have to complete a CAPTCHA?

Completing the CAPTCHA proves you are a human and gives you temporary access to the web property.

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store.

Cloudflare Ray ID: 580423de49285aae • Your IP : 91.105.239.11 • Performance & security by Cloudflare

ForTrade Review

ForTrade is a forex and CFD trading broker. They give traders access to a wide variety of instruments in several markets like currencies, commodities and bonds. For traders interested in cryptocurrencies like Bitcoin, ForTrade offers cryptocurrency CFDs.

  • Not ASIC Regulated (See alternatives)

To open a live account, you’ll need a minimum deposit of at least €1. Alternatively, ForTrade offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 609970). ForTrade puts all client funds in a segregated bank account and uses tier-1 banks for this. ForTrade has been established since 1992, and have a head office in UK.

Before we dive into some of the more detailed aspects of ForTrade’s spreads, fees, platforms and trading features, you may want to open ForTrade’s website in a new tab by clicking the button below in order to see the latest information directly from ForTrade.

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

86.59% of retail investor accounts lose money when trading CFDs with this provider

What are ForTrade’s spreads & fees?

Like most brokers, ForTrade takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on ForTrade’s website. The colour bars show how competitive ForTrade’s spreads are in comparison to other popular brokers featured on BrokerNotes.

ForTrade
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, ForTrade’s minimum spread for trading EUR/USD is pips – which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ForTrade vs. similar brokers.

How much does ForTrade charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with ForTrade at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $16.91. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

ForTrade XTB AvaTrade
Spread from : $ 10.00 $ 2.00 $ 7.00
Commission : $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 10.00 $ 2.00 $ 7.00
$8 less $3 less
Visit ForTrade Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

What can you trade with ForTrade?

ForTrade offers over 304 different instruments to trade, including over 70 currency pairs. We’ve summarised all of the different types of instruments offered by ForTrade below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies ForTrade XTB AvaTrade
# of forex pairs offered 70 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs ForTrade XTB AvaTrade
# of commodities offered 0 21 16
Metals Yes Yes
Energies Yes Yes
Agricultural Yes Yes
Index & Stock CFDs ForTrade XTB AvaTrade
# of stocks offered 190 1606 99
UK shares Yes Yes
US shares Yes Yes
German shares Yes Yes
Japanese shares Yes Yes
See ForTrade’s Instruments See XTB’s Instruments See AvaTrade’s Instruments

What’s the ForTrade trading experience like?

1) Platforms and apps

ForTrade offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

ForTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

Still not sure?

2) Executing Trades

ForTrade allows you to execute a minimum trade of . This may vary depending on the account you open. ForTrade allows you to execute a maximum trade of . As ForTrade offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a nice bonus, ForTrade are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

ForTrade also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection and much more. You can see all of the account features offered by ForTrade here.

Finally, we’ve listed some of the popular funding methods that ForTrade offers its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Mini account
  • Standard account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • PayPal
  • Payoneer
  • Neteller

3) Client support

ForTrade support a limited number including .

ForTrade has a BrokerNotes double AA support rating because ForTrade offer live chat, phone, email support and less than three languages.

4) What you’ll need to open an account with ForTrade

As ForTrade is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore ForTrade’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with ForTrade you can visit their website here.

  • Written by Marcus Taylor
  • Founder & CEO

Marcus founded BrokerNotes in 2020 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about BrokerNotes & Marcus here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.fortrade.com/ on 01/04/2020.

ForTrade not quite right?

Compare these ForTrade alternatives or find your next broker using our free interactive tool.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

Like this post? Please share to your friends:
Binary Options Theory and Practice
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: