Fortrade is a regulated forex broker with a FCA license (FRN: 609970). Traders will be more than happy to know how this forex broker not only offers a variety of trading assets, but also a very interactive approach with many webinars that allow traders to find out more not only about forex trading in general, but also about specific benefits of forex and CFDS trading, news and different strategies that can be applied during the trading process.
We strongly recommend to all traders to read the entire review so they find out more about trading accounts and features, software, customer support and deposit and withdrawal methods and policies.
Fortrade offers two account types:
- Demo account
- Real account
Fortrade Demo Account
Fotrade claims that the demo account is worth $100,000 which is barely possible. However, we were almost unable to confirm that there are even $100,00 of virtual money available on the account. Once we registered for a free demo account, we tried to access the demo dashboard but were not able to do it. After clicking the provided link we got a 404 error.
That didn’t stop us so we accessed the MetaTrader Web platform by checking the list of available platforms. This is very inconvenient, especially for traders who just entered the world of Forex and CFDs trading.
Demo account has a maximum leverage of 1:100, and really offers $100,000 in virtual money. That is more than enough for traders to get used to MetaTrader Web platform, but traders should always be aware of the somewhat complicated nature of Fortrade demo as it is not an instant acces due to dead links.
Fortrade Real Account
Fortrade real account doesn’t offer any special perks and benefits, which truly surprised us. The account description only promises a quick and easy registration which is really not that big of a deal, as most online registrations are very straightforward.
Fortrade offers fixed spreads with average spread for EUR/USD being 2 pips, and leverage being 1:200. Traders who want to know more about specific spreads, should take a look at the PDF documents available online.
Fortrade offers over 70 currency pairs, 4 digital or cryptocurrencies (Bitcoin, LiteCoin, Dash and Ethereum), indices, 140 European stocks, 50 US stocks, leading commodities, treasuries, ETFs and night spreads.
Trading Software & Assets
Fortrade trading platforms are:
- Web Fortrader
- Mobile Fortader
- Desktop Fortrader
- MT4 Mobile App
As it can be noticed on the list above, traders can select and enjoy a great variety of web based and download based platforms and approach the entire trading process in a way they find comfortable. We would give a small advantage to the web based platforms as they are easily accessible from any device as they are not installed on a single computer.
Traders should also use Fortrade mobile platforms if they find it interesting to trade anyplace and anytime, especially as there are mobile apps for both Android and iOS devices. This great variety of platforms is something traders should take into consideration when selecting a broker.
Fortrade has several interesting ways of giving traders additional help and support during trading. The most important ones are online webinars. All traders need to do is join them. Webinar topics vary from very basic ones like ‘What is the difference between CFDs and Forex trading’ and more advanced ones about fundamental and technical analysis.
Traders can also watch the news section with most important reports and summaries from financial markets. There is an educational section as well that traders can easily navigate to find the lesson they need. All Articles are neatly organized by topic and level of knowledge.
Fortrade leaves traders an opportunity to request a callback if they want to talk to customer support later, or simply use a live chat. During the review we tested the live chat function. No agents were online at the moment, but we were able to leave a message so agents could reply to our inquiry. However, agents that are not online at regular working hours make live chat function obsolete.
The platform is available in English, Slovenian and Croatian – two languages that are not very common among forex and CFDs brokers.
Banking & Company Information
Fortrade offers minimum deposit that starts at $100, but when it comes to withdrawals, traders need to think through what is the best method for them. They should decide on the method before they make a deposit so read the text that follows carefully.
- Wire transfer – no minimum withdrawal, but different fees apply
- International Telegraphic Transfer (TT) – no minimum withdrawal, but fee up to 15 GBP
- Credit Card: $50 minimum withdrawal
- E-wallets: no minimum
Traders should definitely take all the fees into consideration as they can significantly affect the profitability of a withdrawal. It can be said that the withdrawal methods that include fees are better choice for big traders who withdraw greater amounts than for beginners who only want to taste the trading process and withdraw smaller amounts.
This broker is operated by Fortrade Limited, company that is regulated by FCA of the United Kingdom with firm reference number 609970.