Fortrade

Fortrade Information

Fortrade is a broker. The tradable instruments include energy, agriculture, US treasuries, stocks, indices, currencies, and precious metals. The broker also provides a demo and a real account with a maximum leverage of 1:200. The minimum deposit is €/$/£ 100. Although Fortrade is regulated by ASIC, FCA, CSEC, CIRO, and NBRB, risks cannot be completely avoided due to its bad reviews about difficulty withdrawing money.

Pros and Cons

Is Fortrade Legit?

Fortrade is regulated by ASIC with license number 000493520, FCA with license number 609970, CSEC with license number 385/20, CIRO, and NBRB with license number 193075810, which is much safer than unregulated brokers.

What Can I Trade on Fortrade?

Fortrade offers a wide range of market instruments, including energy, agriculture, US treasuries, stocks, indices, currencies, and precious metals.

Account Type

Fortrade provides a demo and a real account. The demo account is predominantly used for familiarizing traders with the trading platform and for educational purposes only. Islamic users are allowed to open Islamic accounts with no swap fees.

Clients following the Muslim faith can open a forex & CFD trading account without any rollover interests on overnight positions (=swap interests).

Leverage

The maximum leverage is 1:200 meaning that profits and losses are magnified 200 times.

Trading Platform

Fortrade cooperates with the authoritative MT4 trading platform and a propriety trading platform available on the Web, Windows, and Mobile(iOS and Android) to trade. Junior traders prefer MT4 over MT5. MT4 and MT5 provide various trading strategies and implement EA systems. Fortrade also provides proprietary software.

Deposit and Withdrawal

The minimum deposit is €/$/£ 100. Fortrade accepts Mastercard, Visa, Skrill, Neteller, and PayPal for deposit and withdrawal. Funds sent by wire transfer will usually be credited to the account within seven business days. Withdrawals made by Bank Wire Transfer usually take up to 5 business days. Withdrawals to credit/debit cards can take up to 15 business days.