Fortrade is a regulated Forex CFD brokerage that is fully licensed and is owned and operated by Fortrade Ltd. The company is based in the U.K and it operates under the license number FRN: 609970 which is issued to them by the Financial Conduct Authority. This brokerage firm offers the customers around 300 tradable financial products in a wide range of asset classes. There are around more than sixty forex pairs and CFDs in commodities and four major cryptocurrencies, energy stocks and shares, metals as well as global indices.
This company stands out among many other similar brokers in terms of their unique features and offers. They have a diverse language offering which is available on their web page and it covers most of the Middle East and Europe. Apart from English, Fortrade is also supported in Spanish, French, Portuguese, Dutch, German, Russian, Arabic, Polish, Slovenian, Croatian, Macedonian and Albanian. There are also free educational resources which are offered by this company that includes video tutorials, interactive webinars and many other types of learning opportunities which are accessible to the users and supported by all the 14 different languages!
There is just one basic live account that the traders can set up at Fortrade as well as demo account for practicing their trading skills which does not have any risk involved. Those customers however, who wish to use an Islamic account do have the option of calling up the customer support in order to make a request. The Islamic account is swap free and there are no interest payments that are made or received in any kind of form.
The demo account
One of the great things about this brokerage is that it offers their users the choice of a demo account. This is for the customers to set up an unlimited demo account and with only an email, the full name and phone number and password, it only takes a minute in order to get the things started. The traders are allocated around €10,000 initially of virtual funds so that they can practice their trading skills in the conditions which are similar to the live trading environment on the web Fortrader platform. The maximum leverage that is available for the demo traders is around 1:100 which is doubled in the actual or live account.
The live trading account
The Fortrade account requires a minimum deposit of around a 100 EUR or GBP or USD in order for the user to register themselves in the live trading account with Fortrade. The maximum leverage that is available is 1:200 and the account is free of any commissions. The traders also have the options of choosing from a live trading platform that offers around 300 forex currency pairs and CFDs in major metals, cryptocurrencies, stocks and shares, energy and indices. The values of the spread for all of the financial instruments are fixed and are indicated in the files that are available on the website at Fortrade.
There is live customer support that is offered by Fortrade and is available 24/5 thorugh the options of live chats. There is also a UK phone number, fax and email address for correspondence. Moreover, the webpage of Fortrade is available to the users in 14 different languages. The postal address of Fortrade is also given on the website for general enquires and technical support. There is also a FAQs and Glossary section for the traders, whether they are new to this or experienced.
Fortrade offers two different types of trading platforms. One is the in house Fortrader and the other one is MetaTrader4. Each of these provides downloadable software and also provides web access and mobile trading options as well. This gives the users a complete flexibility to trade from anywhere and at anytime as long as there is a reliable internet connection.
- It offers quite competitive spreads to the traders.
- There is quite a comprehensive educations and learning support to the users on the website.
- It is a FCA regulated broker.
- There are two different types of trading platforms.
- It offers a wide variety and range in the trading assets.
- It does not have any ECN trading support.
Overall, we can say that Fortrade is able to provide their traders quite a good level of service when it comes to their trading needs, educational resources and customer services. This is a great platform for new traders with the option of a great demo account and access to the learning material, glossary and faqs. Moreover, this broker has only a single type of trading account which makes things quite simple and helps in the basic operation of the account, without too many frills attached. As such, Fortrade is a great choice for newbies, intermediate traders as well as for the professional ones.