Fortrade is an online broker that offers a wide variety of trading services to users, specializing in trading CFDs, Forex, and other financial instruments, which will be explained more in this review.
It is known for its simple yet effective platform designed to serve both beginners and experienced traders.
Whether you are new to trading or an experienced investor, Fortrade provides a range of tools and resources to help you succeed in the financial markets, you will be able to decide on going through this review.
History of Fortrade Broker
Fortrade was founded in 2013 and has since established itself as a reliable online broker.
Based in the UK, it is regulated by the Financial Conduct Authority (FCA) and offers services to traders across various countries.
Over the years, it has grown its reputation through a user-friendly platform, educational resources, and a range of tradable assets.
It is particularly known for providing traders with an intuitive and supportive environment.
Features of Fortrade Broker
1. Trading Instruments
Fortrade offers trading in a range of instruments, including Forex, commodities (like gold and crude oil), stock indices, and CFDs.
This variety makes it accessible for traders interested in different markets.
2. Platform
Fortrade uses the well-known MetaTrader 4 (MT4) platform, a robust and feature-packed trading platform, suitable for both desktop and mobile devices.
MT4 offers advanced charting tools, real-time price updates, and a variety of order types.
You can also trade via the proprietary Fortrade platform, which is designed for ease of use.
3. Mobile Trading
Fortrade supports mobile trading with apps for both Android and iOS. This allows traders to manage their accounts, monitor the markets, and execute trades while on the go.
4. Educational Resources
Fortrade provides a rich collection of educational materials, including free eBooks, video tutorials, and webinars to help traders improve their skills.
The broker also offers specialized courses in Forex and CFD trading, aimed at beginners.
5. Customer Support
Fortrade provides customer support via phone, email, and live chat. They also have a detailed FAQ section on their website, offering answers to common queries.
6. Research Tools
Fortrade’s research tools include a daily market analysis, an economic calendar, and trading tools like calculators for margin, pip values, and swaps.
Pros of Fortrade Broker
Fortrade allows traders to access a variety of financial instruments including Forex, commodities, and stocks.
Beginners can take advantage of free educational materials, webinars, and eBooks to learn about trading strategies.
The mobile trading apps are functional and provide traders with the flexibility to trade from anywhere.
Fortrade is regulated by the UK’s FCA, which provides a level of trustworthiness and security for traders.
Cons of Fortrade Broker
While Fortrade provides MT4, it does not offer MT5 or cTrader, which some traders prefer for their enhanced functionality.
Fortrade does not offer social trading features, which might be a disadvantage for those who enjoy copying other traders’ strategies.
Some traders have reported that Fortrade does not provide as many assets as other brokers, especially in niche markets.
Customer Review of Fortrade
Positive Review
Many users have appreciated Fortrade’s educational content. One anonymous user mentioned, “I started as a beginner and with the help of Fortrade’s eBooks and video tutorials, I was able to learn the basics of Forex trading in just a few weeks.”
Another trader said, “Fortrade’s platform is very easy to use, and I can trade on the go using their mobile app. The charts are clear, and I feel in control of my trades.”
Some customers have praised the customer support team. “Whenever I had an issue, I contacted support via live chat, and they were very responsive and helped me solve the problem quickly.”
Negative Review
Some traders have criticized the range of assets available on Fortrade. One user complained,
“While Fortrade offers a few good assets, I wish they had more options, especially in cryptocurrency trading.”
Another anonymous user shared their frustration with the withdrawal process:
“I had some trouble withdrawing my funds, and it took longer than expected for the funds to appear in my account. I hope they improve the speed of withdrawals.”
A user noted,
“I prefer to use platforms like cTrader for my trading, and Fortrade doesn’t offer that, so I feel a bit restricted in the tools I can use.”
How to Get Started with Fortrade Broker
Getting started with Fortrade is straightforward. The steps below will help you to begin in this Fortrade Broker review:
1. Sign Up
Visit Fortrade’s website and click on the “Open Account” button. You’ll be asked to provide personal details such as your name, email, and phone number.
2. Verify Your Account
After registering, you’ll need to verify your identity by submitting documents like a government-issued ID and proof of address.
3. Deposit Funds
Once your account is verified, deposit funds into your trading account using one of the available payment methods (bank transfer, credit/debit cards, or e-wallets).
4. Start Trading
Download the Fortrade trading platform or use the web-based platform. You can start trading by selecting the assets you want to trade, choosing your order type, and setting your stop loss and take profit levels.
FAQs
1. Is Fortrade a reliable broker?
Yes, Fortrade is regulated by the UK’s FCA, which ensures that it follows strict guidelines for financial services and client protection. Always do your research before trading.
2. What instruments can I trade on Fortrade?
You can trade Forex, and CFDs on stocks, commodities, and indices. However, cryptocurrency trading is not available.
3. Does Fortrade offer a demo account?
Yes, Fortrade offers a demo account where you can practice trading with virtual funds.
4. What is the minimum deposit to start trading on Fortrade?
The minimum deposit is typically $100, but this can vary depending on the payment method used as earlier started in this Fortrade Broker review.
Conclusion
Fortrade is a solid choice for beginner traders looking to start their journey in the world of Forex and CFD trading.
The platform is user-friendly, and its educational materials are ideal for newcomers.
It may not be the best option for more advanced traders looking for a wide range of tools or a larger variety of tradable assets.
Fortrade provides a balanced offering with solid customer support, good educational content, and a reliable trading platform.
If you’re looking for a broker to get started with trading, Fortrade could be a good option, if you have gone through the review and you are satisfied with it.