ForTrade Forex Broker - Legit or Scam?
ForTrade is a highly trusted, well reputed, and efficient trading platform for both new and experienced traders alike. This is also the perfect trading platform for currency and commodities trading.
We’ve created this Fortrade Review to help you better understand the most effective, trusted, and multifunctional trading platforms available as a trader, and why Fortrade makes sense. Most importantly, this review is designed to help you determine whether or not Fortrade is a ‘robot scam.’
Fortrade is extremely popular because it allows traders to control their account from anywhere, 24/7, and has established features that include being able to make trades, ‘calls’, view the current market, trends, and more on any platform and mobile device.
Finally, Fortrade is licensed by the FDA Financial Conduct Authority by the UK, which means your funds are secure and protected. You may trade with this broker either by downloading the App, or simply using their browser version – read more on this below.
|Support Options||Email, Phone, Live Chat|
|Deposit and Withdrawal||Credit and Debit Cards, Wire Transfer, Neteller, Skrill|
|License||FCA License #609970 (UK)|
|Location||Michelin House, 81 Fulham Road, London, SW3 6RD, United Kingdom|
|Phone||+44 (0) 207 691 7926|
ForTrade – The Platform
Fortrader provides several options for meeting trader platform needs, from mobile devices, tablets, a downloadable App for your PC, and a browser-version of the trading platform, tools, and all of its complete resources.
The Web Fortrader platform is simple to use, without requiring an install and is also simple to both navigate, as well as open, close, and modify trades very quickly, so you can keep up with market trends or changes.
There is also the Mobile Fortrader and Desktop Fortrader platform options, which are available on both IOS, as well as Android devices.
This means, that Fortrade applications are designed specifically for effectively trading CFD’s and currencies, and traders can enjoy fully-automated trade executions – which is extremely profitable for traders.
All of the Fortrade Apps and Online Version are entirely secure with updated SSL Certificates and guaranteed encryption, account monitoring, security, and privacy.
Using your mobile device, it will be easy to make both precise and fruitful decisions based on capitalizing on both ‘bull and bear’ markets at the click of a button!
Overall, the Fortrade platforms appear quite proficient in ensuring that traders can maximize profit, protection, and minimize loss while trading.
ForTrade – Security & Trust
Traders can find comfort with Fortrade because it is accredited and approved by the Financial Conduct Authority (FCA) of the UK. This is intended to secure as well as ensure adequate financial business policies, fair trading compliance and practice, as well as to protect traders or consumers if Fortrade were to ever stop trading or became ‘insolvent.’
As mentioned earlier, Fortrade prides itself on trader and consumer protection, and in addition to using an SSL-encrypted connection, it also uses high-quality SSAE 16/SAS 70 Type I and II locations which mean the most modern, practical, and security measures of accounts and funds protection are in place.
Fortrade also publicly acknowledges that both its website and domain are tested regularly for security breaches, illegal activity, counterfeiting, check and credit fraud, and more – not to exclude identity theft.
Unlike other trading brokerage firms, Fortrade sets customers funds aside in special, protected and private bank accounts separately from its institution.
There are also additional security measures courtesy its FCA licensing in place for Fortrade investors in which the UK government guarantees to protect your funds under the Financial Services Compensation Scheme (2001) which you can read more about here.
In a nutshell, this policy specifies £50,000 of protection in the form of compensation should it become ‘insolvent.’ This illustrates that ForTrade has the necessary protection in place for both everyday traders and smaller trading firms alike.
ForTrade – Is It A Scam?
Originally established in 2011, Fortrade is a trusted broker, licensed by the Financial Conduct Authority (FCA).
With an FCA guarantee to protect trader’s funds, Fortrade remains at the top of our list for trusted, punctual, competent and committed Forex trading brokers.
ForTrade makes it possible to trade both Forex, as well as CFD’s which is commodities trading in which different types of contracts for trading exists – for example investing and trading in metals, energy, and other precious stock while Forex is purely currency trading.
There are ZERO complaints online that we were able to locate in which reported any complaints against Fortrade.
In fact, Fortrade even makes it a point on nearly every page throughout its website to remind consumers and traders both new and already registered that “trading CFD’s carries a significant risk to your capital.”
We conclude to find that Fortrade shows no signs or indications of being a SCAM.
ForTrade – Account Types
Fortrade has one single account type, which allows investors to trade both Stocks and Forex.
However, as an added incentive for using Fortrade, a free Demo Account with a £10,000 balance is provided for new, registered users.
We like this, as it shows Fortrade has a significant interest in your trading success, experience, and understanding.
Read more below about the different types of educational materials, resources, and services that Fortrade provides to its members.
Fortrade – Trading And Training Resources
Fortrade offers a broad range of various teaching materials, sources, tools, and more including videos, strategies, and even PDF’s.
Included with a Fortrade account is its online “Trading Academy” which includes products like:
- Forex and CFD EBooks
- Forex & CFD Trading Courses for Beginners
- An Advanced Forex & CFD Course
- Trading Videos
- Top Day Trading Strategies, and even a Glossary of Terms!
There are also other educational resources through Fortrade such as Trading Central, Trading Central Analysis, a Forex Trading Webinar, Daily Analyses, MicroAnalysis tools, an Economic Calendar, Historical Overview, as well as a range of various FX & CFD Trading Tools, like a Currency Converter Tool, Pip Value Calculator, and more which can be found HERE.
ForTrade – Deposits And Withdrawals
Fortrade has a recommended Minimum Initial Deposit of £500 EUR/USD/GBP, yet interesting enough this broker will allow traders to start trading with just £100 should they so choose.
This really sets Fortrade apart from the competition, as most require a bare minimum balance of £500.
Even better, Fortrade prides itself on being a Forex and CFD commodities trader that will not charge commissions, because it obtains its remuneration through the spread.
Fortrade – Leverage And Withdrawals
The Fortrade brokerage firm provides leverage at various ranges, from 1:50 for indices and commodities CFD’s, 1:10 for stock CFD’s, and a 1:200 for the majority of currency pairs. The standard leverage for Forex market traders is approximately 1:200, so this is a good sign.
Investors can deposit and withdrawal funds from Fortrade through their bank accounts via bank transfer, wire transfer, Neteller, Skrill, and either credit or debit cards – which adds to both flexibility and practicality for managing your funds and investment.
Keep in mind, any ‘bonus money’ cannot be used for anything either than trading, meaning the only instance you could withdrawal it is when your account trading volume reaches 10 000 base units for every £1 you’ve accumulated.
Fortrade states that Bank Wire Transfer’s may take up to 5 business days, and those done with credit or debit cards can take up to two weeks to reach your account.
There are no minimum Bank Transfer requirements, but charges will apply, and the same goes for International Telegraphic Transfer (TT) Fees. E-Wallets have no minimum, and for credit cards its $50 – other details can be found HERE.
You can also read more FAQ’s about withdrawals and funds management through Fordtrade by visiting their page HERE.
ForTrade – The Software
Traders can select between either the “classic” look and Fortrade trading platform, which is available via desktop, mobile, and web or downloadable versions. However, for more experienced traders, the MetaTrader 4 platform or ‘software’ makes the most sense.
There are over 150 instruments, which can be used across its three various types of trading platforms. The trading platform and proprietary software make it more practical, as well as simple to understand currency, stocks, precious metals, US Treasuries, ETF’s trading, and more! You can read more about all of Fortrade’s various trading options HERE.
The Fortrade website, platforms, and software are also all accessible in English, German, Spanish, Ukrainian, and at least 5 other languages!
We think that the Desktop Fortrader is the easiest to use, and downloadable trading software. It provides all of the necessary pricing and order execution buttons and widgets you’ll need.
We also liked the analysis and trading tools included with the software, which promote the ability for investors and traders to customize their online or mobile platform, environment, and overall usability.
Fortrade also utilizes Candlestick Patterns to help you better understand stock influxes, changes, and drops so that you can keep up, organize, and remain most up to date as well as efficient in your online trading experience – matching various styles and patterns of trading behavior or performance.
ForTrade – Our Verdict
Included in this Fortrade Review was an extensive look at the reputation, security, stability, and software and features provided by this Forex and commodities trading broker.
We have come to the conclusion that Fortrade is NOT a scam by any measure. In fact, if anything it should be considered among the ‘premier’ and most reliable, and effective in comparison to other, both new and established Forex or commodities trading brokers.
For anyone that’s serious about getting the most out of their trading experience, is new to the market, or not happy with their current Forex and commodities trading platform, Fortrade is no doubt the perfect alternative solution.
Priding itself on a “small yet powerful” low memory and latency footprint, Fortrader is a reliable solution for receiving real-time data, regularly implements fixes, and enables rapid settings of new trades with an ultra-high speed and precision for users.
You can read more here on why the Desktop Fortrader is its most popular product, and how others are making a killing in the market thanks to the quality, precision, security, and helpfulness of the Fortrade Forex and Commodities trading brokerage firm.