Fortrade is a global online broker, established in 2013 and fully regulated by the Financial Conduct Authority (FCA) of the United Kingdom. The company offers opportunities to trade currency pairs, stocks, indices, commodities, and other financial products, with high transparency and fast execution, providing a secure and reliable trading environment for investors of all levels.
What is Fortrade？
Fortrade is a regulated trading platform offering a wide range of tradable instruments and user-friendly trading apps across multiple devices, along with comprehensive educational resources. It provides advanced safety measures to protect client funds and information. However, some traders may find the fees on certain instruments and limited leverage on digital currencies to be drawbacks.
Pros and Cons of Fortrade
Fortrade offers a robust and regulated trading environment with multiple platforms and educational resources, making it suitable for both beginners and experienced traders. Its broad range of tradable instruments and comprehensive customer support add to its appeal. However, its higher fees on some instruments and limited leverage on digital currencies might be drawbacks for some traders.
Is Fortrade safe？
Regulations: Fortrade is a regulated broker, ensuring its operations meet stringent standards set by multiple financial authorities. It is regulated by FCA (Financial Conduct Authority) in the UK, ASIC (Australian Securities and Investments Commission) in Australia, CYSEC (Cyprus Securities and Exchange Commission) in Cyprus, IIROC (Investment Industry Regulatory Organization of Canada) in Canada, and FSC (Financial Services Commission) in Mauritius.
Funds Safety: Fortrade provides insurance for client funds, ensuring that your investments are protected. The specific coverage amount for account funds may vary based on the jurisdiction and the regulatory body overseeing the account.
Safety Measures: Fortrade employs advanced encryption technology to secure the storage of funds and data. This ensures that sensitive information is kept safe from unauthorized access. Additionally, Fortrade has robust account security measures in place to prevent user information leaks, including multi-factor authentication and continuous monitoring for suspicious activity.
What are securities to trade with Fortrade？
Fortrade offers a variety of securities for trading, catering to different interests and investment strategies:
CFDs on Currencies
CFDs on Currencies are contracts for differences that allow traders to speculate on the price movements of currency pairs without actually owning the underlying currencies. This type of CFD trading is popular due to the high liquidity and volatility of the foreign exchange market. Traders can go long or short on major, minor, and exotic currency pairs, benefitting from leverage to amplify potential returns.
CFDs on Indices
CFDs on Indices enable traders to speculate on the performance of a group of stocks representing a particular market or sector. Instead of buying individual stocks, traders can invest in indices like the S&P 500, NASDAQ, or FTSE 100. This allows for diversified exposure and the ability to trade on the overall market sentiment, rather than individual stock performance.
Stock CFDs
Stock CFDs allow traders to speculate on the price movements of individual stocks without owning the shares. This type of trading provides flexibility and the potential to profit from both rising and falling markets. With Stock CFDs, traders can access a wide range of companies across various industries and global markets.
Precious Metals CFDs
Precious Metals CFDs offer a way to trade on the price movements of metals such as gold, silver, platinum, and palladium. These metals are often considered safe-haven assets, providing a hedge against inflation and economic uncertainty. Trading Precious Metals CFDs allows investors to gain exposure to these commodities without the need to physically own them.
Energy Products CFDs
Energy Products CFDs include contracts for differences on commodities like crude oil, natural gas, and other energy resources. These CFDs are popular due to the significant price fluctuations influenced by geopolitical events, supply and demand dynamics, and economic indicators. Trading energy CFDs can be highly lucrative, though it comes with higher risk.
Agriculture Commodities CFDs
Agriculture Commodities CFDs involve trading on the price movements of agricultural products such as wheat, corn, soybeans, and coffee. These commodities are essential for global food supply and are influenced by factors like weather conditions, seasonal cycles, and international trade policies. Investors can diversify their portfolios by including agriculture commodities in their trading strategies.
US Treasury CFDs
US Treasury CFDs allow traders to speculate on the price movements of US government bonds. These CFDs provide an opportunity to trade on interest rate expectations and government fiscal policies. US Treasuries are considered low-risk investments, making them a suitable option for conservative traders seeking stability.
ETFs CFDs
ETFs CFDs (Exchange-Traded Funds Contracts for Differences) offer a way to trade on the price movements of ETFs, which are investment funds that hold a basket of assets such as stocks, bonds, or commodities. ETFs provide diversified exposure to various markets and sectors, allowing traders to invest in a broader range of assets through a single instrument.
Each of these securities offers unique opportunities and risks, enabling traders to diversify their portfolios and tailor their trading strategies to their individual preferences and market outlooks.
Fortrade Accounts
Fortrade offers two main types of accounts designed to cater to both beginners and experienced traders: the Demo Account and the Real Account. Here's a detailed description of each type based on the provided information:
Demo Account
The Demo Account is an ideal starting point for those new to trading or for experienced traders looking to test strategies without financial risk. This account comes with an initial notional sum of €10,000 in virtual money, allowing users to practice in real-time market conditions. There is no time limit on this practice account, providing ample opportunity to learn the ins and outs of online trading. The Demo Account enables users to familiarize themselves with Fortrade's trading platforms and refine their trading skills in a risk-free environment. Live support is available to assist users with any questions and to help them navigate the trading process effectively.
Real Account
The Real Account is designed for traders ready to invest real money and access the full range of Fortrade's trading instruments. Whether you are a novice or an experienced trader, the Real Account offers a seamless trading experience with access to currencies, stocks, commodities, and more. This account type ensures a personalized trading experience, available across all devices, 24 hours a day, 5 days a week. Fortrades Real Account is built with security and reliability in mind, providing a 100% safe, secure, licensed, and regulated trading environment. The intuitive trading platforms make online trading simple, fast, and user-friendly, ensuring traders can manage their investments efficiently and confidently.
Fortrade Fees Review
Fortrade, an online trading platform, provides detailed information on its trading conditions and associated fees for various financial instruments. The fees vary across different product categories such as stocks, commodities, indices, currency pairs, digital currencies, direct market access, ETFs, and US Treasuries. Below is a comprehensive overview of the fee structure for each category:
Stocks:
For stocks, Fortrade charges a fixed spread, which is the difference between the buy and sell prices. The average spreads are specified for each stock, such as 1 for 3i Group plc (UK) and 0.98 for Akamai Technologies Inc. (US). The initial margin required varies but is generally set at 0.1% or 0.2% for most stocks, indicating the percentage of the total trade value that must be held as collateral. Leverage ranges from 1:2 to 1:10, allowing traders to control larger positions with a smaller amount of capital. Overnight financing fees (swap rates) for holding positions overnight are indicated, with rates such as -15% for buying and -14% for selling annually. Each stock also has a unit amount which determines the lot size for trading.
Commodities:
In commodities trading, Fortrade specifies spreads such as 0.07 for Brent Oil and 0.45 for Gold. Initial margins typically range from 1% to 2%, with leverage offered up to 1:200 for precious metals like Gold and Silver. Swap rates for long and short positions are detailed, for example, -1.36 for long and 0.11 for short in Brent Oil. Each commodity is traded in specific measurement units, such as barrels for oil and troy ounces for precious metals.
Indices:
For indices, Fortrade charges spreads such as 5 for the Australia 200 and 2 for the UK 100. Initial margins range from 1% to 10%, with leverage up to 1:100 for indices like the USA 30. Swap rates for long and short positions vary, with examples like -16.44 for long and 4.11 for short in the Australia 200. The unit amount represents the lot size for each index.
Currency Pairs:
For currency pairs, the spreads range from 2.8 for AUD/USD to 160 for EUR/ILS. The initial margin is generally 0.5%, with leverage up to 1:200 for major currency pairs. Swap rates differ significantly across pairs, such as -6 for long and 0.5 for short in AUD/CAD. The unit amount typically represents 100,000 of the base currency in each pair.
Digital Currencies:
Fortrade offers trading in digital currencies with products like Ether Futures and Micro Bitcoin futures. The spreads are 700 and 10000 respectively. Initial margins are high at 50% to 100%, and leverage is limited to 1:1 or 1:2. Swap rates for both long and short positions are substantial, such as -850 for long and -800 for short in Micro Bitcoin futures.
Direct Market Access:
This category includes specific stocks like Akamai Technologies Inc. and Altria Group Inc., with a spread of 1 and an initial margin of 100%. Leverage is set at 1:1, and swap rates are relatively low, such as -0.09 for both buy and sell annually.
ETFs:
Fortrade offers ETFs like ProShares UltraPro QQQ with a spread of 0.14 and an initial margin of 20%. Leverage is 1:5, with swap rates at -9 for both long and short positions.
US Treasuries:
US Treasuries like the 10-Year T-Note and 30-Year US T-Bond have spreads of 0.07 and 0.09 respectively. The initial margin is set at 5%, and leverage is 1:20. Swap rates for holding long positions are around -1.66, with no charge for short positions.
Additional Trading Conditions:
Fortrade applies triple rollover charges on positions held at Wednesday nights close to cover the weekend. Account dormancy fees are charged after six months of inactivity, with a monthly fee of $10, €10, or £10 depending on the account currency. The stated spreads are fixed, and trading hours start at 22:00 GMT (wintertime) or 21:00 GMT (summertime), subject to changes due to British Summer Time (BST).
Fortrade App Review
Fortrade offers a variety of trading platforms designed to meet the diverse needs of traders, regardless of their level of knowledge or experience. Each platform is equipped with advanced technology and features to help users manage their investments securely and efficiently from different devices, including mobile phones, web browsers, and PCs/MACs.
MetaTrader 4 (MT4):
MetaTrader 4 is one of the most popular and widely used trading platforms in the world, and Fortrade offers full support for it. MT4 is renowned for its robust features, including advanced charting capabilities, automated trading through Expert Advisors (EAs), and a wide range of technical indicators. It provides a stable and secure environment for trading, with features like multiple order types, real-time pricing, and a user-friendly interface that can be customized to suit individual trading preferences. MT4 is available on multiple devices, ensuring that traders can access their accounts and trade from anywhere.
Fortrader Mobile:
The Fortrader Mobile platform allows traders to stay connected and manage their accounts from anywhere, at any time. It is available for both Android and iOS devices, transforming a smartphone or tablet into a virtual trading desk. The mobile platform offers all the essential features needed for effective trading on the go, including real-time quotes, advanced charting, and the ability to open and close positions with ease. Traders can also receive notifications and alerts, ensuring they never miss a market opportunity.
Fortrader Web:
Fortrader Web is a browser-based trading platform that does not require any software installation, making it accessible from any device with internet access. It offers the same powerful features as the desktop version, including advanced charting tools, instant execution, and a wide range of technical indicators. The web platform is designed for convenience and flexibility, allowing traders to manage their investments from any location without compromising on functionality or performance.
Fortrader Desktop:
Fortrader Desktop is the downloadable version of Fortrades trading platform, designed for those who prefer to trade from their PC or MAC. It provides a more comprehensive and customizable trading experience, with enhanced charting tools, multiple screen support, and faster execution speeds. The desktop platform includes all the advanced features needed for professional trading, such as detailed market analysis, automated trading options, and the ability to manage multiple accounts.
In summary, Fortrades range of trading platforms ensures that every trader can find a solution that fits their needs, whether they prefer trading on a mobile device, through a web browser, or on a dedicated desktop application. Each platform is equipped with cutting-edge technologies and capabilities to facilitate secure, efficient, and successful trading.
Research and Eduation
Fortrades Trading Academy is a resource center designed to help traders enhance their knowledge and skills. It offers a wide range of educational materials and tools, including webinars, courses, videos, and eBooks.
Fortrades Online Academy:
The Online Academy provides various learning resources for traders at different levels. Whether you're a beginner or an advanced trader, the academy helps you understand trading better and make informed decisions.
Trading Webinars:
Webinars are live sessions hosted by analysts, providing real-time market analysis, covering Forex terminology, strategies, and recent events. You can register for upcoming webinars or view recordings of past sessions.
Beginner's Trading Courses:
Beginner's Courses cover the fundamentals of online trading, including market basics, trading concepts, and platform use, helping novices build a solid foundation.
Trading Videos:
Trading Videos cater to different learning preferences, covering topics from basic tutorials to advanced techniques, making complex concepts easier to understand.
Advanced Trading Courses:
Advanced Courses delve into sophisticated strategies and market analysis techniques, enhancing the skills of experienced traders.
Top Day Trading Strategies:
This section offers insights into effective day trading strategies, providing recommended actions and ideas to help traders develop a structured approach.
Trading from A to Z:
Fortrade provides a comprehensive glossary of trading vocabulary, helping traders understand and use common industry terms.
Forex & CFD eBooks:
The Forex & CFD eBooks cover various aspects of trading, offering in-depth explanations, terms, and definitions to help improve trading skills and knowledge.
Fortrades Trading Academy is a robust educational platform, offering resources to help traders at all levels enhance their market understanding and trading skills.
Customer Service
Fortrade offers comprehensive customer support through various channels:
For general inquiries, email: infomu@fortrade.com or phone: +44 204 571 7564. This covers broad questions about products or services.
For account-related questions, such as balance inquiries or payments, email: support@fortrade.com. This ensures that financial and account-related issues are managed efficiently.
For technical support, including help with the Fortrader platform, email: support@fortrade.com with “technical support” in the subject line. This prioritizes technical assistance requests.
For partnership and institutional services inquiries, email: partners@fortrade.com. This channel handles business collaborations and institutional relationships.
For traditional correspondence, use the postal address: The Cyberati Lounge, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebene, Republic of Mauritius.
Additionally, Fortrade offers an online contact form on their website. By filling in your first name, last name, email, phone number, and the topic of your inquiry, you can ensure your message is directed appropriately for a timely response.
Conclusion
Fortrade is a reputable online trading platform known for its user-friendly interface, advanced trading tools, and low fees. It offers a wide range of trading instruments, including currencies, commodities, and indices, catering to both novice and experienced traders. However, it does have account inactivity fees and does not offer interest on uninvested cash or mutual funds.
FAQs
Is Fortrade safe to trade？
Yes, Fortrade is safe to trade. It is regulated by multiple financial authorities including the FCA, ASIC, CYSEC, IIROC, and FSC, ensuring stringent compliance with industry standards.
Is Fortrade a good platform for beginners？
Fortrade is an excellent platform for beginners due to its user-friendly interface, comprehensive educational resources, and demo account feature, allowing new traders to practice without financial risk.
Is Fortrade legit？
Yes, Fortrade is a legitimate trading platform. It operates under the regulation of reputable financial authorities, providing a secure and reliable trading environment.
Is Fortrade good for investing/retirement？
Fortrade is more suited for active trading rather than long-term investing or retirement planning, as it offers a range of CFDs and short-term trading instruments rather than traditional investment products like mutual funds or retirement accounts.
Risk Warning
The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.
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