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Fortrade Review

license-icon

Licences

FCA

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Minimum deposit

100 USD

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Maximum leverage

1:200

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Spreads

from 1 pips

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Bonus

30 %

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US Clients

No

Based in the UK, Fortrade is the trading name for the company Fortrade Ltd. It was started in 2011 and falls under the regulation of the Financial Conduct Authority (FCA). Take your time to read our Fortrade review to see whether or not this broker is trustworthy or actually the Fortrade scam.

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Fortrade Broker Bonus Review

Fortrade Review

The Fortrade forex broker offers a welcome bonus of 30% which covers up to $3000. This is great for you because not many other brokers offer welcome bonuses and this will undoubtedly help increase your ability to trade more. Unfortunately their bonus expires after 90 days and can’t be withdrawn but given how things are operated at Fortrade, that more than likely won’t be a problem.

Fortrade Bonus

Fortrade Regulation

A question one might be asking when researching the broker could be is Fortrade a scam? While you can never always be sure, especially with new brokers, one of the signs that it’s safe to trade with a broker is to see if its regulated. In the case of Fortrade, it’s regulated by the Financial Conduct Authority (FCA) and Australian Securities and Investments Comission (ASIC).

Given that Fortrade is governed by regulatory bodies, it could be safe to say that it is not a scam. However, there’s more to a broker when it comes to trading and trusting them with your funds than just their security and regulations.

In terms of the Fortrade regulation, one can put their mind at ease for now, and instead, bring their attention to other details about the company to better determine if Fortrade is right for them.

Fortrade Broker Customer Support Review

Fortrade’s opinion is that the client is the centre of their world and has therefore designed everything with simplicity, ease and comfort in mind.

This is why their customer support is offered via a number of channels such as email, telephone, fax and live chat. Their customer service agents respond promptly and seem to know what they are doing. The main drawback of their customer support is the placement of the information on their website.

Many other brokers show their contact info either on their homepage or make it easily accessible however the Fortrade broker has designed their website in such a way that you have to scroll to the bottom of their page and click the “Contact us” link in order to get in touch with them. That’s something that should be changed to make it easier for clients.

Fortrade Broker Accounts

The Fortrade broker only allows you to use their in-house platform Fortrader which is fairly simple and decent. It may be considered too basic for traders who are used to the popular MT4 platform which admittedly has more features available.

This is probably to prevent any time wasted by clients with choosing and to promote a sort of equal footing. That’s good and honestly not much of a problem if you are fine with the Fortrade forex broker’s account features. These include fixed spreads of 3 pips and no commissions.

They also have a demo account available so you can test out their services without committing any actual money.

Fortrade Minimum Deposit

The minimum deposit for trading with Fortrade starts at $100, but the broker recommended amount is $500. It may be alarming for some to see a minimum deposit requirement by a broker when wanting to start trading, especially if they’re new to the field.

Many brokers may use a minimum deposit to get their clients to deposit more into their accounts than they normally would and in some cases, their victims. However, as Fortrade regulation concerns have already been addressed, this shouldn’t be something to worry about.

But better alternatives exist in this matter as well. Some brokers may not only have any minimum deposits but actually offer a welcome bonus to new investors to make it easier for them to enter the financial market.

Fortrade Broker Platform Review

The Fortrade broker only allows you to use their in-house platform Fortrader which is fairly simple and decent. It may be considered too basic for traders who are used to the popular MT4 platform which admittedly has more features available.

Fortrade Platforms

Their Fortrader platform is available across different devices. They have a downloadable desktop version which is compatible with both Mac and PC, a web version which you can use anywhere with an internet connection and mobile apps which are available on both the App Store and Play Store.

Fortrade Review Conclusion

The Fortrade forex broker is fairly new when compared to a number of other brokers. Their regulation by the FCA makes it easier to trust them, given the regulatory body’s strict criteria. While they have their faults, the Fortrade broker has gotten a decent reputation and may be worth checking out.

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June 26, 2022

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