Fortrade Review: Scam or Legit – Read Before Trading
Fortrade is another one of the most popular brokerage firms available for automated trading online. It claims that it was started to provide a hassle-free trading environment for experienced as well as new traders.
If you are an experienced trader, then you must know that whenever you trade online, you have to register yourself first. After registration, you are matched with the broker that lies in your region based on your country of residence. This broker places the deals which come out to be profitable and help you in creating more money from the initial capital that you deposited.
If you are in the trading business, then you must have also heard about the frauds that take place here frequently. We want to tell you that all these frauds are played by brokers who pretend that they are regulated. Indeed they are not regulated, and because you have not researched well, you lose the money that you transferred in their accounts in the form of the initial capital.
Brokers that do not work under strict conditions and are not affiliated with known organisations tend to make millions of dollars only by stealing innocent traders money. If you save a lot of money for automated online trading and someone takes it away without any profit creation, then it would be a huge mishap. This is why a reliable and trustworthy broker is very significant.
Fortrade has clients across the globe except for some selected ones. Fortrade operates on 15 different languages that make it accept the diversification bringing a lot of customers to use it.
Fortrade is based in the UK and is one amongst the derivatives brokerage firm that provides all of its customers with a brilliant platform for Contracts for Difference and trading forex. CFDs enables all its traders to venture on the price of the asset with absolutely no ownership of the accounts in it.
Now that you know the significance of a reliable broker, let’s move on to the broker that we are going to discuss in this article. We are assuming that you looked for Fortrade, which is also one of the most popular brokers available. We have created a comprehensive fortrade review for you to follow so that you do not face any problems while investing at this brokerage firm. So make sure you give this whole article a careful read!
Are you ready to learn more about Fortrade? If yes scroll over!
What is Fortrade?
Fortrade is a brokerage firm that was established in 2013. With a relatively recent establishment, this brokerage firm has become a hugely popular option for people who trade in forex as well as for cryptocurrencies. This CFD broker claims that its mission is to provide the globally-based clients with a user-friendly trading environment, which is suitable for both advanced and learning traders.
Now that the automated cryptocurrency, also stock trading platforms, has gained so much of importance reliable and trustworthy brokers are hard to find. But this particular brokerage firm has proved its self by providing all the services that it claims to its users. It also strives to operate all its functions by providing transparent services. Moreover, it trades in a diversity of assets.
Fortrade particularly stresses on the user-friendliness of the technology. It tries to offer a scalable platform and has more regulations imposed by the top international regulatory bodies that go by the name of the Financial Conduct Authority. It has the majority of strength. Traders always look forward to a potent broker that regulates across seas in the European Union. It also offers access to the CFDs residing across several significant assets of the classes that are willing to investigate more offerings at Fortrade. You should remember that trading CFDs revelations traders that have a lot possibility of losses. Other than that, Fortrade does not allow its users to lose that gets more than invested in Fortrade account, CFD is solely for experienced traders.
But there is a difference between this software and the rest of the available brokerage firms. Once you navigate to the official website of Fortrade, you will be finding a lot of information that might look a little intimidating. But that is only because this software focuses on market analysis as well and as such a whole lot of data can be found on the homepage.
Is Fortrade a scam?
This is one of the most deciding questions of why readers navigate to review websites. But at a lot of different sites, you will find biased opinions. This is because some competitive brokers might have put wrong reviews about this software. But in this case, we are going to provide you with an unbiased opinion based on real-time testing as well as individual user reviews.
You will be exultant to know that this brokerage firm is undoubtedly not a scam, and it is 100% legitimate broker to place your automated trading deals through. It is very well regulated and operates under strict conditions. As such, your money is safe with them. And you do not need to worry about consistent losses that people usually face in case their brokers are not legitimate
Fortrade also offers its customers CFD trading that crosses over 300 instruments that are solely grouped in nine categories, namely: precious metals, index CFDs, energy products, US Treasuries, forex, ETFs, stock CFDs, cryptocurrencies, agricultural products.
We tend to believe that Fortrade is exceptionally trustworthy as it is registered with the topmost leading international regulatory bodies. The Financial Conduct Authority (FCA) regulates the firm in the UK. The markets in Financial Directive enables the company to operate as a regulated element all over the European Union. The clients of Fortrade take a lot of comfort in the fact and figure that each broker has a financial statement that needs auditing. This auditing is done by Fisher Sassoon and Marks, which is one of the most prominent financial services that have accounting firms.
Fortrade offers a variety of a said that you could trade. Moreover, there are a lot of great features and tools that we will be observing in this article as well. Thus we can confirm that this platform will certainly won’t produce because it is a legitimate one. It can be compared to one of the best software is available for automated trading. Don’t forget to read the entire article for a good quality discussion.
Is Fortrade well regulated?
You should make sure that whenever you sign up for an automated trading platform to look forward and research a lot about the broker that you are matched with. The most important question that comes with a broker is that of its regulations. Regulations are an essential aspect as it makes the brokerage firm to work under strict conditions and make sure that everything happens in the interests of the client.
We are delighted to tell you that this brokerage firm is very well regulated and as such your money is safe with them. It complies with United Kingdom’s Financial Conduct Authority, Australian Securities and Investment Commission as well as the National Bank of the Republic of Belarus. All these authorities provide certainly conditions under which the firm has to work.
Also, Fortrade traders are given a choice to choose between the brokers proprietary platform and amongst the most popular platform named as MetaTrader4 (MT4). Both are usually available through a desktop, mobile interface and web-based. Traders are made available 300 financial assets and are given leverage going up to 1 to 200 on forex pairs and 1 to 50 on the commodity and index CFDs.
The most crucial aspect of regulations on a particular broker is that the money that you transfer or deposit is kept in a segregated account. As such, the firm cannot use it for its purposes or for stealing away any amount. In such a case, you will be focusing on creating a profit and placing a deal which offers the best win rate for the user. We can conclude that a reliable broker makes every automated platform safe.
This platform gives its client a wide variety of assets that are traded. It provides it users currencies, stocks, energy products, agricultural products and precious metals and treasuries etc. But there exists a significant let down that comes in the trade of cryptocurrencies. The cannabis stock is also becoming quite famous as a commodity trader, and the option is also not available at Fortrade.
The other crucial feature related to the brokerage firm that is trending as a free trading option. The mobile app is easily installed and downloaded from the Apple App Store or Google Play Store. Hence it is a lot easier to trade, and you do not have to handle the burden of carrying a laptop almost regularly. You can do the same with the mobile phone. This software is accessible from iPad and other tablets as well.
This software gives the highest priority. This is because it emits a lot of knowledge material so that you can read it from here no matter whatever kind of trader you are. Here you also get full availability of different trading sort of things including guides for trading, trading webinars, trading courses and even eBooks etc. If you are fresh to this app, then you can surely look after checking all of these options thoroughly.
Fortrade Account types:
you will be delighted to know that there are no separate account types on this particular platform. You only have to create one account, and as such, there are no special privileges for people who deposit more or less money as such. This creates equality and amongst experienced as well as newcomers in terms of the services that are provided.
There exists a lot of software that have minimum deposit requirements. The minimum deposit is as high as a thousand dollars. It is not beneficial for a newcomer to invest, but there is a benefit for them. In this platform, the minimum deposit is quite less, that is up to $100. It is recommended to invest Minimum amount of deposit firstly and analyse it yourself first. Unlike other platforms that have an ideal amount of $500.
Deposits and withdrawals:
in terms of withdrawals, this platform is a letdown. It was observed that the withdrawal amount was processed in two weeks even though the capital was paid via a credit card. Although it was mentioned at the website that five days would be taken for the withdrawal to be processed two weeks is a very long time.
It is another crucial feature of any brokerage firm. Registration to this platform takes place amazingly fast and hassle-free, although you do not need to identify documents and verify yourself.
All the genuine brokers, including all the electronic cryptocurrency trading platforms, give us an option for all its users to trade online. This is a seamless experience. This option lessens the number of unnecessary losses that any customer faces. Even though they do not know how to trade prior. On all the platforms investing zero money is applicable on this app Fortrade.
We want you to have a hassle-free experience, and even after viewing this article, you have any queries. You do not have to worry at all. It has an excellent customer care service that is available on this platform. Whenever you feel any trouble, you can submit a form regarding your questions, comments and concerns to the specific staff. This can be done via phone, email or messaging and even by live chat. Isn’t that cool?
How Do I register myself on Fortrade?
Because this platform is regulated by financial conduct authority, every new individual has to provide some identity documents to verify themselves. You will be asked for a colour copy of your passport or any other ID as well as a utility bill or bank statement. You will also be asked to answer a few compliant questions. This should not bother you because it only enhances safety
To successfully register yourself at this platform, navigate to its official website first. Then look for the registration option and enter your details carefully. You will be required to enter the suitable account type, your country of residence, your email address as well as a strong password. Also, keep all the documents mentioned above handy to fasten the process of registration.
How do I begin trading with Fortrade?
If you are accessing this brokerage firm through a trading platform, then you do not need to register separately on this brokerage firm. But if you want to trade individually, then you will have to do so by depositing some initial capital. Do not worry as this process is very safe, and a variety of payment methods are available. The ways that you can use our debit cards, Neteller, Bank Transfer, Skrill, etc.
You will be happy to know that if you have any profits in your account. Then you can make a withdrawal whose request can be processed in about two weeks. This is not a great feature because not a lot of brokerage firms provide such an extended amount of time while processing withdrawals. It can take as long as 1 to 2 days at other platforms, which is an enjoyable time.
Trading is super simple at this platform. You can opt for a free account at the demo mode option. In the demo mode, you will be awarding yourself of all the possibilities that will occur at live trading. After that is done, you might switch onto the MT4 platform. This trader platform can be accessed through whichever device you are comfortable with including your mobile as well.
Pros / Cons
- It is a well-delimited, brokerage firm.
- The withdrawals and payouts are handled very carefully.
- It is unquestionably not a fraud.
- It is one of the most productive brokerage firms.
- One can trade over many options here.
- It doesn't deal with cryptocurrency as well as Cannabis.
- It only has one account option.
- Withdrawals take a long time to process.
There are a lot of features that reside in this software. It offers you a seamless experience that makes you undoubtedly go for it. There are ample of ways and features which makes this app user-friendly to use for anyone who makes an account on this platform. It has embedded excellent choice for people that are looking for an automated trading platform. Also, it has assets like stocks, indices, currencies and commodities that can be traded.
Hence, we still have firm support for the fact that all the new users should stick to the minimum amount that is possible for making deposits. This tends to keep them safe from all the irrelevant losses that one can face if any trade goes wrong. If you’ve any questions regarding our fortrade review, comment below.
✅ Is Fortrade a scam?
No, it is a hundred per cent legitimate.
✅ When are withdrawals processed on Fortrade?
It takes two weeks to process your withdrawals.
✅ Is registration a stressful affair at Fortrade?
No, it is effortless.
✅ Do you really get a Free €10,000 practice account?
YES you do!