Fortrade

The Company

It was founded in 2011 and today offers a broad range of trading instruments, covering over 150 different currencies in addition to index, stock and commodity CFDs on their own platform, and MetaTrader 4. MetaTrader 4.

Security of Funds

Fortrade Ltd. Operating under the brand name Fortrade is licensed and monitored by FCA. The UK regulatory system is renowned for its highest standards and oversight. In order to obtain an approval by the UK financial regulator, brokers must demonstrate their financial stability and comply with a range of standards. For instance, client funds have to be stored in separate bank accounts that are distinct from the operating funds. Additionally the regulated businesses must have at least EUR730 000 in order to consider themselves financially secure. The same minimum requirements for capital for capital are also in force in other countries: Australian brokers must have at least $1 million in assets while Cyprus-based brokerages have to have EUR 1 million as well. US forex brokers are required to have $20 million.

The regulation of FCA additionally provides additional guarantees for clients’ funds because they are covered in the Financial Services Compensation Scheme, where the maximum amount of compensation is PS50,000 per individual per company that is regulated.

Here is the list of additional FCA-regulated brokers..

Trading Conditions

Minimum Initial Deposit

Fortrade suggests a minimum initial amount of $500 EUR/USD/GBP however , it is possible to trade starting with EUR100. This is a typical minimum amount to deposit. As a comparison, some forex brokers in the UK, such FxPro have a minimum deposit of $500 or FXPro for instance requires only $1 from customers to begin with.

Spreads & Commissions

Fortrade does not charge commissions since it earns its compensation through spreads. Fortrade offers fixed spreads of 2 pips per EUR/USD which is the standard for the market. But, trading costs for other brokers are cheaper. For instance, FxPro provides an average adjustable spreads of 1.4 per cent on the EUR/USD pair for its MT4 accounts that are commission-free.

Leverage

The broker has a variety of limits on leverage, based on the instruments that are traded in the broker’s portfolio: 1:50 for indexes and commodities CFDs, 1:10 CFDs of stocks, and 1:200 on the majority of currencies.

A maximum leverage of 1:200 is a norm in the market for forex. If you require a greater leverage, some brokers based in the UK offer the following: the HY Markets 1:300; Admiral Markets 1:500. Forex brokers that provide leverage that is equal or greater than 1:500 is available at this site.

Leverage permits traders to get an extensive exposure to markets for a minimal amount of capital invested but it is essential to be aware that the greater the percentage of leverage, the greater the risk. Leverage is a coin that has two sides.

Trading Platform

Fortrade provides its services via two platforms for trading, including its own Fortrader and the well-known MetaTrader 4 platform..

Fortrader is available in mobile, desktop and desktop versions. This is their own platform, which is simple and user-friendly however, traders who are accustomed to the more advanced features available on MT4 might find it to basic and unhelpful.

In addition, Fortrade supports the most popular platform for trading currencies, The MT4. It’s also accessible in a variety of forms and styles and is compatible with mobile, desktop, and web users. The platform is highly regarded for its reliability, simplicity of use, and top of the line professional tools. Features include excellent charting software with a variety of Expert advisors indicators, backtesting tools and more.

Welcome Bonus

Like others, Fortrade provides a bonus for new customers of 30% of the initial account (up up to EUR3000). The deposit amount must be at least EUR100 and the bonus will expire within 90 days.

Bonus money can be used only for trading and cannot be withdrawn prior to the time that the trading volume of your account reaches the level of 10000 base units per EUR1 bonus.

Methods of Payment

Fortrade customers are able to make withdrawals and deposits from their accounts and transfer funds using credit or debit cards, bank transfer wire transfer Skrill as well as Neteller.

Conclusion

Fortrade is a UK-based broker, offering forex trading and a variety of CFDs with competitive trading conditions.