Fortrade Review 2020 Is Fortrade Broker Scam or Legitimate

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Contents

Olymptrade – Legitimate Platform or a Scam?

OlympTrade is a trading platform that is designed for all types of investors and traders in mind, from the experienced investors to individuals who want to get a taste of the market. Today, it’s considered as one of the leading trading platforms, allowing its members to get engaged with options trading and forex trading.

As a leading trading platform, OlympTrade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand. In an effort to position its brand as one of the leading trading platforms, OlympTrade strives to provide the best trading experience, and at the same time helping its members (traders) get the right skills and boost their income along the way.

OlympTrade real reviews: Is it a scam?

OlympTrade is, of course, widely reviewed online, and majority of these reviews are positive. Our team managed to check and read some of the reviews posted in the top websites and community forums in different parts of the world including Russia, Brazil and United Kingdom.

And based on our casual reviews, we found out that this platform is easy to use, offering its members with friendly services, especially when it comes to funding and withdrawing from accounts. Some reviewers also noted the ability of the platform to allow customers to earn up to 90 percent profit on each profitable trade. In all reviews, customers and traders are one in saying that Olymp Trade offers a satisfying platform for trades.

Broker Bonus Min Deposit Payout Review Open Account
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

Negative trader reviews:

This trading platform ha also, naturally, received a number of negative reviews and feedback from verified customers. According to some reviews that are posted online, the trading platform is a scam, and will not allow its members to withdraw their funds. However, according to other people, common sense and our examination, these are empty accusations that can all be simply explained below.

Issue No. 1: Customers cannot withdraw their money.

Withdrawal is subject to certain conditions as explained by the following:

  • Customers are advised to verify their identities within a few days of registration and before depositing money.
  • The wagering requirements must be met, if the trader accepts to receive the trading bonus. The wagering requirements are set at x30 the bonus amount.

If these conditions are not met, then the withdrawal of the bonus funds will not be allowed. However, both of the reasons for canceling a withdrawal mentioned above are the same with all brokers in the world. Because of regulations, you are required to verify your identity with ALL brokers. In case you face the same problems, then it’s highly recommended to coordinate with Customer Support.

Issue No. 2: Customers are losing their money

Keep in mind that binary trading is all about risks, and there’s a big chance that you will lose money when you engage in this business. If you want to take the risk, then it’s better to be prepared. One thing that you can do is to try first the demo version of the trading platform before trading for real money.

It’s the nature of trading. Some people make money while the others lose. This is not a reason for calling a broker out. That’s why we always recommend trading on the demo account first, before depositing any real money. Also, keep learning about trading.

After all: Is Optiontrade a Legitimate Trading Platform?

Based on the assessment of the services and business practices, we can say that Olymptrade is not a scam. If indeed this was scamming company, then the most established and experienced investors and traders would have left the platform. Also, they could have left the most painful negative reviews for the trading platform. Based on available evidence and details, it seems that this trading platform offers a legitimate trading opportunity. The website offers transparency, and interested customers and traders can easily know and verify the services, starting from money management to order placement.

How to verify account at OlympTrade?

If you are from Nigeria, India, Pakistan, UK, wherever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

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So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents?

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – [email protected] together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Corporate Information

OlympTrade is a legitimate and licensed broker which is recognized by the Financial Commission. As part of the commission, each trading account has insurance for $20,000. This trading platform is owned and operated by Wallfort Limited and the Inlustris Ltd, with the following mailing address:

  • Inlustris Ltd
    • Registration No.: 25161 IBC 2020. Registered Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.
  • Wallfort Limited
    • Registration number HE364695. Headquartered in Irodi Attikou 8A, Lakatamia, 2332, Nicosia, Cyprus.

More info about OlympTrade

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

202 Responses to “Olymptrade – Legitimate Platform or a Scam?”

This is very important to complete verification in time. Not only for the sake of bonuses from Olymp Trade (which is indeed very motivating factor by itself) but in order to avoid issues with your account in future. You can forget to complete the verification and you will only remember about it when you try to complete the withdrawal. Broker has the right to lock your account in this case until your verification is completed. Sure enough you’ll be able to unlock it by providing all the paperwork. But agree, this is much easier to do it all at once. This is not just Olymp’s requirement. Its anti money laundry legislation that we all have to obey.

I live in Ghana, West Africa. Can I trade with Olymp Trade? And do you have clients from Ghana, West Africa who I can contact?

IS THIS WORKING IN BOTSWANA
HOW MANY OF THEM HAS SUCCEDED

Please my administrator.this is my first time to deposit money in my real account.am in nigeria.i use fcmb Visa card it keep on saying transation declined.i tried to use Netterler and Skrill still it can not work.please I want to no whether the fault is from my fcmb bank or from my olumpic account.

Hi, Does Olym Trade work in Somalia? if yes, can i withdraw from my account here?

Good guys please I really want to trade Olympic trade on MT4. Does Olymp trade have that?

Unfortunately, they don’t. But you can still open MT4 and analyse the markets there. Then, when you see a good trade opportunity, just open the trading platform in a new window and open the trade.

please what is the minimum withdrawal

Hi Jinadu, There should be no minimum withdrawal as long as you want to withdraw more than the fees – the fees vary in each country and for each method, so I cant tell you the exact number.

Please, how much is the bonus on $10 deposit ?

Could you please enlighten me on the depositing options of this broker? More particularly, do they differ for specific countries, or not? The point is, I’ve heard one can top up the account with bitcoins, and yet there’s no such option in my personal account.

I’m from Nigeria,
What exactly do I need to verify my account.
If I want to start trading

i got a feeling the platform is working against me delebaratly,

I trade on olymptrade, I requested for a withdrawal of 20$, 10$ was sent to me and they told me the next 10$ has being processed and will be sent to me the next working days. Why can’t my money be sent whole. I need answers please

Dear Emmanuel, I think the problem is that you only deposited 10 dollars with your card. The way it works is that the broker can only return the amount of the deposit to your card – not more. The rest has to be sent in a different way – through an eWallet or WireTransfer maybe.

I am facing the same problem, although olymptrade only deposited $20 to my account instead of $36 but now theres no balance left to tranfer to the e wallet please assist

I have a question regarding the bonus you are getting while depositing for the first time. Is it true, that even if I lose the money I deposited? So if I make 1000 dollars deposit, I will get another 1000 dollars as a bonus, and then I lose 1000 dollars in deals I will still have that 1000 on my account? And I will be able to trade this money but don’t withdraw? And when I start to get the income, will I be able to withdraw all the profit?

olymp trade is a big scam,there demo trade is completely different from what you see on live trade..you needed to see what the platform was doing immidiately they got me as client in there cage.i took time to compare the live and demo but its all fake people.i understand onlin trading very well ..my demo was wonderful.coming to live jesus its nothing to right home about.there is nothing anyone will tell me about them.i entered a trade in live ,a selling ,market same time as in my demo also,demo turn out well while live start illegal shaking at the end of the day my live came out losee.
they are criminalsssssssssssssssssssss

Thank you for sharing your experience, we hope it will be useful for other traders.

Iam from Nigeria, i don’t know if Olympic trade work in my country

you will find all information about IQ Option in Nigeria in this article – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/

In case you need more info, let us know.

Have a nice day.

Hi, I just want to ask if we can upload our verification documents on the platform upon registration instead of sending our documents to an emails. And beside. Is it save to send our sensitive documents to an email I?

Samuel, yes, please go to your account and upload documents there – do not send it over email.

I have account but I ask olymptrade they said my account doesn’t need any verification so am afraid

In most cases, the verification is done during the first withdrawal. When you request a withdrawal for the first time with an unverified account, you shall receive an electronic letter through your email asking you to submit documents for account verification.

Have a nice day.

Can I submit only my bank statement as my document

Hello, it’s one of the documents, you need more of them.

As it’s written in the OlympTrade review.

Have a nice day.

I just deposited into my live account.And I have traded and I withdrew my profit,but they said I should expect the money in the next five working days.
I need your help because the money has been deducted.

did you get your money, or not?

Let us know, thank you.

Is it possible to use olymptrade here in Zambia?
Thanks.

Dear Sifaya, I think it’s not possible. But go ahead and try IQ Option, they should accept Zambian traders as far as I know. If they don’t let us know! ��

can u also deposit through paypal

No, unfortunately, as far as I know, PayPal is not supported.

It’s more than a year that I’ve been trading with Olymp Trade, and generally I’m satisfied. Making deposits and withdrawing money to the e-wallet is quute convenient, plus, the platform itself is totally user-friendly. In the near future, I’m planning to upgrade my account to VIP. I’ve already received profit on the first deposit, so I need to add just a couple hundred dollars to gather the necessary amount. I read that VIPs get the payout rate of as much as 90%. I wonder how many assets does this relate to, or is it just the EUR/USD currency pair?

Hi, does this olymptrade broker require a certain amount deposit of registration or is it free? And what is it all about I mean what is to be traded?

Dear Kay, the minimum deposit required is 10 US dollars and the min trade amount is 1 US dollar. You don’t need to deposit if you only want to trade on demo account.

Please in all your explanations above, did someone needs to send all the verification before depositing or after depositing and I Want to ask if OlympTrade has just only one app or they has many cause some may be scam and some may be real

Dear Samuel, it depends on your country. Sometimes you need to send documents before depositing, but some times after doing so. But be assured it’s safe and they won’t use it for anything bad. I have personally sent documents to more than 10 broker in the past 5 years and have never had any problem.

Is it advisable to deposit with btc in olymptrade

Akpituren, yes you can do it and there is no problem, just like with other deposit methods.

Hello please I need more guide to verify my account can you help me am from Nigeria

Hello, read more about binary options trading in Nigeria here – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/ if you will need more info, let us know. Have a nice day.

J. Pro, I wanna know the maximum withdrawal amount in Nigeria at a go.

Hello, the maximum withdrawal amount is limited only by your bank or e-wallet. The verification procedure does not depend on the amount of withdrawal.

Let us know, if you need more help.

Is it a must we scan an energy bill because I don’t make those kind of payment directly that’s the job of my landlord

Bobby, you don’t have to do that. If you have a bank account you can simply scan the bank receipt with your address.

Hello, if you don’t have an energy or phone bill I guess that you can use a bank account statement. Have a nice day.

Thanks J. pro for your comments so far
Talking about account confirmation, must the name on the utility bill/ electric bill corresponds with my name? If yes, what should i do, because am not staying in my own house, the name on my electric bill is not bearing my name.

Collins, if you can’t use utility/electric bill, you can use the bank account statement which contains your address – that’s the easiest way.

should I send a picture of my credit card to the e-mail address during verification before depositing money?

Yes, but cover the middle 8 numbers! If you don’t, it’s dangerous and you could get scammed.

I am a Nigerian, please I want to know if I can withdraw to my naira debit card if I use it to fund my olymptrade account. Thank you.

Pladayo, as we mention in our article OlympTrade Nigeria, it shoudld be possible to use the Naira card to both deposit and to withdrawal afterwards.

thks for ur review on this trading platform… I have few questions.. 1st of all.. hw long can one trade before he start withdrawing.

2nd, is there any commission charge at the point of withdrawer?

3rd, what are the disadvantages of receiving bonus while depositing…

lastly, if I deposited thru the mobile app, who is my broker. thks

Bolaji, thanks for your questions. You should be able to withdraw even on the same day as you deposit – no problem. The withdraw fees vary and depend on your country and the method you use for withdrawal. Wire transfers have a fee for sure, but withdrawals to e-wallets like Skrill should be free. I do not recommend the bonus feature, because according to the terms and conditions, if you accept a bonus of (for example) 100 USD, you will have to make trades in the total value of 4 000 USD in order to be able to withdraw your money.

A highly innovative company Olimp Trade is constantly inventing various things to provide its customers with profit. Only at the moment there are at least 3 options that will prevent a trader from loosing money. Stop out is my favourite. It will close a deal automatically if the price of the asset begins to decrease after purchase.

pls what type of passport can one use particularlly

Read our CM Trading Review and Discover More about a Relative Newcomer to the World of Online Trading.

Are you looking for a broker with years of experience, or would you prefer a broker who is more of a newcomer? CM Trading is the brand name of Global Capital Markets Trading Ltd, a company with its operating centre based in the Seychelles. This broker is one of the newcomers, having only been established in 2020.

  • Up to a 20%Bonus: Up to $1,000!
  • Max Leverage: 1:400
  • Spread: 2–3
  • Forex Licence: FSB

A brief introduction to CM Trading

CM Trading offers a unique brokerage service, and operates out of Johannesburg, South Africa. It is licensed and regulated by the South African Financial Sector Conduct Authority (FSCA) under a regime that operates in much the same way as regulatory bodies in Europe and the UK. This means that investors can be certain their deposits are safe and segregated from operating capital in major Tier 1 banks. The bar is set very high for operating standards, and personal, financial and transactional data is securely encrypted using the latest SSL technology. CM Trading offers the services of a one-stop shop for online trading, including an extensive range of assets in the form of CFDs for stocks, commodities, indices and foreign currencies, with leverage of up to 400:1. CM Trading offer a number of unique service such as their CopyKat service, which allows traders to mimic the trades of other more experienced traders, along with a feature known as “Guardian Angel” which warns of any major changes in the market instantly. So, if you looking for a provider offering the best in innovative services then CM Trading could be just what you’re looking for.

CM Trading offer a good selection of MT4 platforms.

Like many of its predecessors, CM Trading has chosen to stick with the popular trading platform MetaTrader 4. It does require a download but is very easy to negotiate and is also extremely user-friendly. With this popular platform, traders can choose a number of options to assist in tracking market performance; and one-click operations mean that trades are executed almost instantly, with the information in real time. For traders who prefer to trade when out and about there is a CM Trading mobile platform which is compatible with all mobile devices. WebTrader is the choice if you prefer not to have to worry about a download, and is also the system through which CopyKat is accessed.

An account type to suit most types of trader

CM Trading are able to cater to the needs of a wide range of traders with a good choice of accounts. For those who are new to trading, or those who prefer to try before investing real cash, there is, of course, a demo account. But for those who are ready to invest real money, there are a number of other options:

  • Mini account – Minimum deposit $250, leverage up to 400:1. Includes a daily market review, a weekly market review, and a CM Trading ebook.
  • Standard account – Minimum deposit $1,000, leverage up to 200:1, regular spreads, and the option of a regular CMT debit card. There are also added benefits including one risk-free trade, and access to webinars covering an introduction to Forex.
  • Executive account – Minimum deposit $5,000, leverage up to 200:1, tighter spreads, and the option of a VIP CMT debit card. With this account, you get to benefit from two risk-free trades, and access to webinars relating to the basics of Forex trading as well as to understanding technical and fundamental analysis.
  • USD 25,000 account – Minimum deposit $25,000, leverage up to 200:1, competitive spreads, same-day withdrawals, three risk-free trades, two trading strategies, and an extra webinar that covers the psychology of trading.

There is also the option of an Islamic account for traders who wish to apply the rules and principles of Islamic law. These accounts are interest-free across a range of open statuses, however long the duration.

A number of payment methods are accepted including wire and bank transfer, debit and credit cards, CashU, Neteller, and Fasapay.

Want to know more about CM Trading’s latest promotions?

CM Trading reward first-time customers with a number of bonuses. These include the following:

  • Make a first-time deposit and receive a free ebook.
  • Deposit $500 and get up to a 20% bonus of up to $1,000.
  • Deposit $1,000 and you can apply for a free Intercash International debit card.

CM Trading understand the importance of customer education.

The educational material made available to customers far exceeds that of much of the competition. Whether you are a complete novice or a trader who is always looking for ways to hone your skills, CM Trading can help with your education, with training videos, technical and fundamental analysis information, webinars, CM trading signals, expert advisers, a Guardian Angel, and the help of customer advisers 24 hours a day, 5 days a week.

Customer service agents are bilingual and available during trading hours by email or live chat, or by calling one of the many international direct telephone lines.

It might seem like CM Trading is a million miles away, but whenever you need them they are right there by your side. Everything they offer is very competitive, and while they may be a relative newcomer they have pipped many other more experienced brokers and are now very near the top of the pile. They have embraced the latest technology and trading ideas, and aim to ensure that every trader’s experience is thoroughly enjoyable. The number of awards received so far certainly backs up their reputation. You can read on their site that they are aiming to continue to develop and upgrade until they are at the forefront of the online trading world. And after spending some time tasting the experience we have to say they are already pretty close.

If you like what you have read – and who wouldn’t? – try this broker out for size by opening a demo account. We’re pretty sure it won’t be long before you’re ready to start trading with real money.

Fortrade Review 2020

Founded in 2020, Fortrade is a regulated online broker focused on simple and accessible trading for all, providing user friendly platforms with a large amount of educational materials and a vast market analysis area.

Fortrade Review 2020, Pros & Cons
  • Strict regulation
  • Vast educational materials
  • In-depth news & market analysis
  • Trading central
  • Marked up spreads
  • Non-ECN
  • No fixed spread accounts
  • No US clients

In this detailed Fortrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Fortrade is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Fortrade.

Fortrade Review: Summary

Fortrade is an online trading broker offering 24-hour market access to hundreds of trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs to individual and institutional traders across the globe.

Established in 2020, Fortrade pride themselves on being a transparent, secure, trusted and reliable broker with a large online trading community. They aim to make trading more accessible and enjoyable with simple yet powerful solutions for all levels of trader.

Fortrade offer a vast selection of educational materials and trading tools to help clients improve their trading knowledge and skills. Amongst the free resources are daily market analysis, video tutorials, trading courses, weminars, eBooks and more.

Fortrade offers the popular MetaTrader 4 (MT4) platform as well as their very own Fortrade web, mobile and desktop platform. The platforms have intuitive designs for friendly, simple and fast online trading whether you are a novice or advanced trader. They also include advanced technology for analysing the markets and executing trades.

Trading accounts can be opened with a minimum deposit of $100 whilst spreads and execution speeds are competitive compared to other online brokers. They also charge no commission on trades.

According to managing director Nick Collison, “Fortrade now serves over 10,000 private and institutional traders from across the globe, and continues to grow. We are not content to rest on our laurels and we continue to improve, innovate and develop products to ensure we offer the best to our customers. We believe that trust is essential to succeed in our industry, and we pride ourselves on our integrity, dependability and transparency. As a UK-based broker we are authorised and regulated by the Financial Conduct Authority (FCA). This ensures our commitment to safeguarding our customers’ interests and adherence to the FCA’s Treating Customers Fairly code.”

Fortrade Review: Regulation

Fortrade are regulated and hold client funds in accordance with strict rules and regulation. Regulation helps to give clients the peace of mind that they are using a reliable and trusted broker in addition to having advantageous trading conditions. Fortrade’s motto is “trust and transparency in all that we do”.

Fortrade Ltd.is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

Fort Securities LLC. is authorised and regulated by the National Bank of the Republic of Belarus (NBRB) in Belarus.

Fort Securities Australia PTY LTD (T/A Fortrade Australia) is licensed and regulated by the Australian Securities and Investments Commission (ASIC).

Fortrade Canada Limited is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).

Fortrade Review: Countries

Fortrade accept clients from most countries excluding residents of the United States, Japan or Belgium and any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Some Fortrade broker features and products mentioned within this Fortrade review may not be available to traders from specific countries due to legal restrictions.

Fortrade Review: Trading Platforms

Fortrade clients can choose between the popular MetaTrader 4 (MT4) trading platform or Fortrade’s very own platform. Both platforms are available for desktop, web and mobile.

Fortrade Review: Trading Platforms

MetaTrader 4 (MT4) Desktop

The MT4 desktop platform allows you to trade global markets from your PC or laptop. It streams hundreds of real time price quotes and charts from a range of trading instruments across different markets. You can view charts on multiple timeframes and use the built-in technical indicators to analyse charts for potential trading opportunities.

There are a range of order types available, trading strategy templates, drawing objects and alert notifications. MT4 also supports custom indicators and automated trading strategies commonly known as expert advisors (EAs).

Although Fortrade only offer the MT4 desktop platform for windows, it is available from other brokers for Mac.

Fortrade Review: MetaTrader 4 (MT4) Desktop

MetaTrader 4 (MT4) Mobile App

The powerful MT4 app includes all of the advanced capabilities of the traditional desktop version, offered in an intuitive and feature-rich package. It is available for download on both Android and iOS from the relevant app stores.

Fortrade Review: MetaTrader 4 (MT4) Mobile App

MetaTrader 4 (MT4) WebTrader

The MT4 WebTrader is accessible from all major PC and Mac browsers, without needing to download or install any software. It provides you with access to over 300+ CFD asset classes including forex, stocks, commodities, indices, ETFs and Bonds, all from directly within your web browser. The WebTrader maintains all of the advanced capabilities of the traditional desktop version.

Fortrade Review: MetaTrader 4 (MT4) WebTrader

Desktop Fortrader

The Fortrader desktop platform allows users to trade 150+ forex currencies and CFDs with the intuitive software, benefitting from the accuracy and functionality of fully-automated trade executions. You can download and access the feature-packed platform to conveniently and securely place orders online.

The platform displays live-streaming price quotes, charts and has built-in technical indicators to help your market analysis and get the most out of your trading strategies. It has a flexible and user-friendly interface that allows you to control and customise your trading environment in a way that best suits your trading style and strategies.

Fortrade Review: Desktop Fortrader

Web Fortrader

The Fortrader web platform gives instant access to the global financial markets without needing to download or install any additional software. Users can enjoy a reliable trading solution via an internet connection and most modern browsers, accessible in just a few clicks of your mouse. You can open, modify and close positions – in the office, on your holidays or during any other situation you please – provided there is an internet connection. It’s fully synced, quick and easy to use.

Fortrade Review: Web Fortrader

Mobile Fortrader

The Fortrade mobile app enables you to stay connected and manage your account from anywhere in the world and at any time. You can easily and effectively turn your Android or iOS device into a virtual trading desk from within the palm of your hand. The mobile platform is available for download on both Android and iOS.

Fortrade Review: Mobile Fortrader

Fortrade Review: Trading Tools

Fortrade have a selection of useful trading tools including trade calculators, currency convertor and trading central.

Trading Central

Fortrade have partnered with Trading Central to offer a complete package of technical analysis tools to help improve your trading skills and to understand the basics of charting.

Its technical analysis outputs, charts and indicators are based on information collected from a consortium of investment banks and asset managers.

Trading Central can assist with trading decisions and is constantly being updated with more insightful technical analysis reports and sophisticated chart-pattern recognition tools. It is simple to use and can be located in the platform’s chart section on the desktop, web and mobile platforms.

Fortrade Review: Trading Central Analysis

Currency Converter Tool

The currency converter tool uses real-time market rates to convert your predefined amount to and from various currencies.

Fortrade Review: Currency Converter Tool

Margin Percentage Calculator

The margin calculator provides a simple percentage calculation of the required leverage for each tradable instrument offered by Fortrade. This enables you to calculate exactly how much margin is required in order to open a position, and adjust its size accordingly, if necessary.

Fortrade Review: Margin Percentage Calculator

Swap Rates Calculator

Swap rates determine the costs for holding a position overnight. This occurs at 21:00 GMT time, on any trades held open at this time. You can use the swap calculator to quickly calculate the swap fees that you will be charged, based on the instrument, account currency and trade size.

Fortrade Review: Swap Rates Calculator

Pip Value Calculator

The pip calculator finds out the exact value of your trading positions in the currency of your trading account. This can help to understand how your trade sizes are being calculated.

Fortrade Review: Pip Value Calculator

Fortrade Review: Education

Fortrade have a free online trading academy with a range of useful resources for improving traders knowledge and skills. There are webinars, eBooks, trading courses, trading videos, video tutorials, trading strategies, news and market analysis.

Fortrade Review: Education

Webinars

Fortrade offer professional and free online webinars covering a range of trading topics such as market analysis (technical & fundamental), money management, technical indicators, trading psychology and much more.

Fortrade Review: Webinars

Trading eBooks

The trading eBooks offer a detailed overview of the markets and trading principles. They are a good place to get started and learn more about trading with a good variety of topics covered.

Fortrade Review: Trading eBooks

Trading Courses

Fortrade offer beginner and advanced trading courses covering a wide range of topics including different markets, trading strategies, types of orders, terminology and more. These courses are fun and easy to follow, in bitesize digestible slides.

Fortrade Review: Trading Courses

Trading Videos

The trading videos are very professional and detailed, providing a wide range of advanced education on numerous topics ranging from market analysis, trading psychology, technical and fundamental analysis and more. The videos are fun and friendly, suitable for all trader skill levels.

Fortrade Review: Trading Videos

Video Tutorials

Fortrade have a collection of video tutorials covering various trading topics and how to use Fortrade services. There are videos for opening accounts, using trading platforms, conducting chart analysis, using trading tools and more.

Fortrade Review: Video Tutorials

Trading Strategies

Fortrade share some trading strategies that can be used as stand alone strategies for market analysis or implemented as part of another strategy.

Fortrade Review: Trading Strategies

Glossary of Terms

The glossary of terms contains frequently used trading terminology and definitions.

Fortrade Review: Glossary

News & Market Analysis

Fortrade have a frequently updated analysis area that covers daily / weekly / historical analysis which can be used for finding potential market opportunities and to assist with strategies. Analysis is very detailed with technical and fundamental analysis covered across multiple markets. There is an economic calendar that displays upcoming news releases at possible impact on the markets.

Fortrade Review: News & Market Analysis

Fortrade Review: Trading Instruments

Fortrade offers traders over 300+ CFD products across a range of asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & CFDs.

They have more than 60+ forex currency pairs based on majors, minors and exotics. There are 20 indices, 180 stocks, 5 metals including gold and silver, 5 types of energy including gas and oil, and 5 types of soft commodities.

Fortrade Review: Trading Instruments

Fortrade Review: Trading Accounts & Fees

Fortrade offer a demo practice account and real trading account. They do not charge a commission and instead add costs into the spread which is marked up. The minimum deposit required is $100 which provides access to all platforms and trading products. Islamic swap free accounts that comply with Sharia law are also available.

Professional Account

Traders who qualify as a professional client can apply for a professional account. To be eligible for a professional account you need to have traded in significant size an average frequency of 10 times in each of the last 4 quarters on CFDs or forex, have an investment portfolio of + €500,000. (Including cash savings / financial instruments), have worked for at least one year in the financial sector in a professional position, gaining knowledge of CFD and forex trading. Whilst a professional account can give EU traders leverage of up to 1:200 instead of 1:30, it also reduces the protection offered from the broker.

Inactivity Fee

If for any consecutive period of 180 days, you do not trade on your account then Fortrade will deem the account to be inactive or dormant and charge you an administrative fee of $10.00 which represents Fortrade’s administrative cost of continuing to operate the inactive account. The fee is deducted from the client account balance following the expiration of the grace period and every thirty days thereafter.

As broker fees can vary and change, there may be additional fees that are not listed in this Fortrade review. It is imperative to ensure that you check and understand all of the latest information before you open a Fortrade broker account for online trading.

Fortrade Review: Customer Service

Fortrade offer multilingual customer service 24/5 via online chat, telephone and email. There are international telephone numbers and the live chat is very prompt to attempt to answer questions. Support are happy to answer any questions you may have about Fortrade products or services. They also welcome any feedback or comments.

Fortrade Review: Deposit & Withdrawal

Fortrade accept a range of funding options including all major credit/debit cards, bank transfers, Neteller and Skrill. The method you opt for may depend on how long it takes to process. If you want something quick then you may consider an online payment processor. Please note that some methods may only be available to specific countries.

Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods can be instant.

Accounts can be opened in GBP, EUR, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Fortrade Review: Funding Options

Fortrade Review: Account Opening

Opening an account to start trading at Fortrade is quick and easy. You simply complete the short account opening form and verify your account with some form of identification and proof of address such as a passport and utility bill. Once verified, you can create a free demo practice account or fund your live account and start trading on the MT4 or Fortrade platform desktop, web and mobile platforms.

Fortrade Review: Account Opening

Fortrade Review: Conclusion

Fortrade is regulated and offers a good range of trading instruments on flexible trading platforms suitable for different trader skill levels. The educational material is extremely vast as is the market analysis area. Whilst account types are limited and spreads are marked up, useful trading tools are available.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Min $100 Deposit

Founded in 2020, Fortrade is a regulated online broker focused on simple & accessible trading for all, providing user friendly platforms with a large amount of educational materials & a vast market analysis area.

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