Fortrade Review: A Good Recommendation For Novice Traders In 2020. Here’s Why

Disclosure: Your support helps keep the site running! We earn a referral fee for some brokers & services we list on this page. Learn more...

Last Updated on

Fortrade Header

Risk Warning: Your Capital is at Risk.

Fortrade Overview

Fortrade is a UK-based derivatives brokerage firm that offers customers two trading platforms for trading forex and Contracts for Difference (CFDs).

Fortrade traders have a choice between the broker’s proprietary Fortrader platform and the popular MetaTrader 4 (MT4) platform.

Fortrade's strengths include its user-friendly technology, scalable platform, and regulation by one of the top international regulatory bodies – the Financial Conduct Authority (FCA), making it attractive for traders in the UK.

This Fortrade review will cover all of the important details about the broker to help you make an informed opinion about its products and services.

Start Trading Now at Fortrade.com

Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Quick Summary

What's Good About Fortrade?What Could Fortrade Do Better?
Trustworthy broker (we scored Fortrade 80/100 in our broker trust rating)Withdrawals can take up to 15 business days for debit/credit cards
Extensive educational tools available, however, this may be quantity over qualityPlatform may be too basic for some traders but the MT4 platform is also supported by Fortrade
Handy tutorial to help get you started with the platform
Islamic accounts available and run in accordance with Sharia law (these require a min. deposit of $2,000, however)
Support and website available in multiple languages
12-hour customer support via email, live chat and phone between 9 am and 9 pm GMT Monday - Friday.

Who is Fortrade Best For?

Fortrade is ideal for beginning-to-intermediate traders residing in the United Kingdom, thanks to its regulation by the strict Financial Conduct Authority (FCA).

Advanced traders may find the Fortrader platform too simplistic unless using MetaTrader 4.

Fast Facts About Fortrade

 Fortrade Logo
OverviewLeading provider of online trading solutions for individual and institutional clients
Our Overall Rating
Broker Trust Rating80/100
Founded2013
ProductCFDs, Forex
MarketsStock, Indices, Forex, Cryptocurrencies, Commodities, US Treasuries, ETFs
Countries Served150+ (Full list below)
Minimum Deposit£100 (with a suggestion of £500)
FeesFortrade is a no-comission broker, receiving its compensation in the form of the market bid/ask spreads on each instrument. (See below for a full list of fees)
Regulator(s)Financial Conduct Authority (FCA)
Customer SupportBetween 9 AM and 9 PM GMT Monday - Friday by phone, email or live chat
Demo AccountYes, no expiry

Start Trading Now at Fortrade.com

Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Where Does Fortrade Operate?

Fortrade serves clients in 151 countries.

IMPORTANT: CFDs are not available in the USA due to local regulation, and regulated brokers do not accept US citizens or US residents as clients.

See all the countries allowed by Fortrade.

  • Albania
  • Andorra
  • Antigua and Barbuda
  • Argentina
  • Armenia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belize
  • Benin
  • Bhutan
  • Bolivia
  • Bosnia and Herzegovina
  • Botswana
  • Brazil
  • Brunei
  • Bulgaria
  • Burkina Faso
  • Côte d'Ivoire
  • Cabo Verde
  • Canada (provinces of British Colombia and Ontario only)
  • Cameroon
  • Chile
  • China
  • Colombia
  • Comoros
  • Costa Rica
  • Croatia
  • Cyprus
  • Czechia (Czech Republic)
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Estonia
  • Eswatini (fmr. “Swaziland”)
  • Fiji
  • Finland
  • France
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Greece
  • Grenada
  • Guatemala
  • Guinea
  • Holy See
  • Honduras
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Ireland
  • Italy
  • Jamaica
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Kuwait
  • Kyrgyzstan
  • Latvia
  • Lebanon
  • Lesotho
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Mexico
  • Micronesia
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • Nicaragua
  • Niger
  • Nigeria
  • North Macedonia
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestine State
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Qatar
  • Romania
  • Russia
  • Rwanda
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Seychelles
  • Sierra Leone
  • Slovakia
  • Slovenia
  • Solomon Islands
  • South Africa
  • South Korea
  • Spain
  • Sri Lanka
  • Suriname
  • Sweden
  • Switzerland
  • Tanzania
  • Thailand
  • Timor-Leste
  • Togo
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Tuvalu
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • Vietnam
  • Zambia

See all the countries banned by Fortrade.

  • Afghanistan
  • Algeria
  • Angola
  • Australia
  • Belgium
  • Burundi
  • Cambodia
  • Canada*
  • Central African Republic
  • Chad
  • Congo Republic
  • Cuba
  • Democratic Republic of the Congo
  • Eritrea
  • Ethiopia
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Hong Kong
  • Iran
  • Iraq
  • Israel
  • Japan
  • Korea (North)
  • Laos
  • Liberia
  • Libya
  • Myanmar
  • New Zealand
  • Panama
  • Papua New Guinea
  • Puerto Rico
  • Singapore
  • Somalia
  • South Sudan
  • Sudan
  • Syria
  • Tajikistan
  • Turkmenistan
  • Uganda
  • United States**
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Yemen
  • Zimbabwe

*The following Canadian provinces of are not accepted:

  • Alberta
  • British Columbia
  • Manitoba
  • New Brunswick
  • Newfoundland and Labrador
  • Nova Scotia
  • Ontario
  • Prince Edward Island
  • Quebec
  • Saskatchewan.

**US Residents and residents of US Dependencies are not accepted, including:

  • American Samoa
  • Guam
  • Northern Mariana Is
  • Puerto Rico
  • US Minor Outlying Islands
  • US Virgin Islands
  • Micronesia
  • Palau

Languages Supported

Fortrade supports 15 languages on its platform:

See all the languages supported by Fortrade's platform.

  • English
  • German
  • Spanish
  • French
  • Croatian
  • Italian
  • Dutch
  • Polish
  • Portuguese
  • Slovene
  • Swedish
  • Russian
  • Arabic
  • Albanian
  • Macedonian

Start Trading Now at Fortrade.com

Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Fortrade Trading Products

Fortrade offers customers CFD trading in over 300 instruments grouped into nine categories: forex, cryptocurrencies, stock CFDs, index CFDs, precious metals, energy products, agricultural products, US treasuries, and ETFs.

Forex

Fortrade offers seven major forex currency pairs, as well as minors and exotics.

The major currency pairs are:

  • AUD/USD
  • EUR/USD
  • GBP/USD
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY

See Fortrade's minor currency pairs.

  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY

See Fortrade's exotic currency pairs.

  • EUR/DKK
  • EUR/HUF
  • EUR/ILS
  • EUR/NOK
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/ZAR
  • GBP/SGD
  • GBP/TRY
  • USD/CNH
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/ILS
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR

Cryptocurrencies

Fortrade lets clients trade CFDs for four cryptocurrencies against the US dollar:

Indices

Fortrade allows CFD trading for 18 major indices.

See Fortrade's indices.

  • Australia 200
  • Canada 60
  • Europe 50
  • France 40
  • Germany 30
  • Hong Kong 50
  • Italy 40
  • Japan 225
  • Netherlands 25
  • Spain 35
  • Swiss 20
  • TRYBASK/TRYCFD 
  • UK 100
  • USA 2000
  • USA 30
  • USA 500
  • USA Tech 100
  • USD Index

Stocks

Fortrade customers can trade CFDs on some of the most popular shares from companies in the UK, Germany, France, Spain, Italy, Western Asia, the United States, and other European countries.

See all the stocks offered by Fortrade.

CountryStocks
United Kingdom3i Group
United KingdomAdmiral Group
United KingdomAnglo American
United KingdomAntofagasta Holdings
United KingdomAshtead Group
United KingdomAssociated British Foods
United KingdomAstraZeneca plc
United KingdomAviva
United KingdomBabcock International
United KingdomBarclays
United KingdomBarratt Developments
United KingdomBATS
United KingdomBHP Billiton
United KingdomBP
United KingdomBritish Land
United KingdomBT Group
United KingdomBunzl
United KingdomBurberry
United KingdomCapita
United KingdomCarnival
United KingdomCentrica
United KingdomCompass Group
United KingdomEasyJet
United KingdomExperian
United KingdomFresnillo
United KingdomGlaxoSmithKline
United KingdomGlencore
United KingdomHammerson
United KingdomHargreaves Lansdown
United KingdomHSBC Holdings
United KingdomIAG
United KingdomIBM
United KingdomImperial Brands Group
United KingdomInforma
United KingdomInterContinental Hotels Group
United KingdomIntertek Group
United KingdomIntu Properties
United KingdomITV
United KingdomJ Sainsbury
United KingdomJohnson Matthey
United KingdomKingfisher
United KingdomLand Securities
United KingdomLegal & General Group
United KingdomLloyds
United KingdomLSE Group
United KingdomMondi
United KingdomNext
United KingdomPearson
United KingdomPersimmon
United KingdomPrudential
United KingdomRandgold Resources
United KingdomRBS Group
United KingdomReckitt Benckiser Group
United KingdomRio Tinto Group
United KingdomRolls Royce
United KingdomRSA Insurance Group
United KingdomSage Group
United KingdomSchroders
United KingdomShire
United KingdomSky Plc
United KingdomSmith & Nephew
United KingdomSmiths Group
United KingdomSSE
United KingdomStandard Chartered
United KingdomStandard Life
United KingdomTesco
United KingdomTravis Perkins
United KingdomUnileverPlc
United KingdomVodafone Group
United KingdomWm Morrison Supermarkets
United KingdomWPP PLC
GermanyAdidas AG
GermanyAllianz SE
GermanyBASF SE
GermanyBayer AG
GermanyBayerische Motoren Werke Aktiengesellschaft (BMW)
GermanyCommerzbank AG
GermanyDaimler AG
GermanyDeutsche Bank Aktiengesellschaft
GermanyDeutsche Lufthansa AG
GermanyDeutsche Post AG
GermanyDeutsche Telekom AG
GermanyE.ON SE
GermanyRWE Aktiengesellschaft
GermanySAP SE
GermanySiemens Aktiengesellschaft
GermanyVolkswagen AG
FranceAir France-KLM SA
FranceAirbus SE
FranceAXA SA
FranceBNP Paribas SA
FranceCarrefour SA
FranceDanone S.A.
FrancePeugeot S.A.
FranceSafran S.A.
FranceSchneider Electric S.E.
FranceSociété Générale S.A.
FranceVallourec S.A.
SpainBAE Systems
SpainBanco Bilbao
SpainBanco Santander
SpainBankia
SpainEnagás
SpainEndesa
SpainGamesa
SpainGas Natural Fenosa
SpainIberdrola
SpainInditex
SpainRepsol
SpainTelefonica
ItalyAssicurazioni Generali S.p.A.
ItalyEni S.p.A.
ItalyFiat Chrysler Automobiles N.V.
ItalyIntesa Sanpaolo S.p.A.
ItalySaipem S.p.A.
Hong KongXiaomi Corporation
United StatesAlibaba
United StatesAltaba
United StatesAmazon
United StatesAMD
United StatesAmerican Airlines
United StatesAmerican Express
United StatesApple
United StatesAT&T
United StatesAurora Cannabis Inc.
United StatesBaidu
United StatesBank of America
United StatesBerkshire
United StatesBoeing
United StatesCanopy Growth Corporation
United StatesCAT
United StatesChevron
United StatesCisco
United StatesCiti Group
United StatesCoca-Cola
United StatesCronos Group Inc.
United StatesDisney
United StatesDropbox
United StatesExxonMobil
United StatesFacebook
United StatesFerrari
United StatesFireEye
United StatesGM
United StatesGoldman Sachs
United StatesGoogle
United StatesGoPro
United StatesGroupon
United StatesGW Pharmaceuticals
United StatesHP
United StatesIntel
United StatesJNJ
United StatesJPMorgan
United StatesLas Vegas Sands Corporation
United StatesMcDonald's
United StatesMicrosoft
United StatesMorgan Stanley
United StatesNetflix
United StatesNintendo
United StatesNvidia Corporation
United StatesP&G
United StatesPayPal
United StatesPfizer
United StatesRoyal Caribbean Cruises
United StatesSina Corp
United StatesSnapchat
United StatesSogou, Inc.
United StatesSpotify
United StatesTesla Motors
United StatesTeva Pharmaceutical Industries
United StatesTilray, Inc.
United StatesTwitter
United StatesValeant
United StatesVerizon
United StatesVisa
United StatesWal-Mart
United StatesYandex
United StatesZynga
Other European countriesAnheuser-Busch InBev SA/NV
Other European countriesASML Holding N.V.
Other European countriesDiageo
Other European countriesGalp Energia, SGPS, S.A.
Other European countriesGeneral Electric
Other European countriesInterContinental Hotels Group
Other European countriesKoninklijke Philips N.V.
Other European countriesMarks & Spencer
Other European countriesNational Grid
Other European countriesNokia Corporation
Other European countriesNordea Bank Abp
Other European countriesSevern Trent
Other European countriesShell
Other European countriesSkandinaviska Enskilda Banken AB (SEB)
Other European countriesTelenor
Other European countriesTenaris S.A.
Other European countriesThe Unilever Group
Other European countriesUnione di Banche Italiane S.p.A.
Other European countriesUnited Utilities
Other European countriesWhitbread

Precious Metals

Energy Products

Agricultural Products

US Treasuries

  • US 10Y Note
  • US 30Y Bond
  • US 5Y Note

ETFs

  • SQQQ – ProShares UltraPro QQQ Short ETF CFD)
  • TQQQ – ProShares UltraPro QQQ Long ETF CFD)
  • United States Oil Fund LP (USO)

Start Trading at Fortrade.com

Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Fortrade Account Types

Fortrade keeps things simple and offers only three types of accounts:

  • Standard trading accounts
  • Islamic accounts
  • Demo accounts

Standard Trading Accounts

Fortrade requires a minimum initial deposit of £100 depending on the base currency of your account.

However, the broker recommends that traders make an initial minimum deposit of at least £500.

Islamic Accounts

Fortrade also offers an option to open an Islamic forex account. These accounts are swap-free, with no rollover interest on overnight positions in accordance with Islamic law.

Islamic accounts require a minimum balance of $2,000.

Demo Accounts

Unlike with some brokers, you don't need a standard trading account to open a demo account.

Demo accounts have all the same features that a standard account offers, including real-time charts and quotes for hundreds of financial assets.

There is no time limit to the practice account. Fortrade deposits an initial notional sum of 100,000 demo credits into your trading account, allowing you to learn and practice online trading in a real trading environment.

Start Trading Now at Fortrade.com

Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Account Requirements

To sign up for Fortrade traders need to provide the following information in a process that takes just a few minutes:

  1. Name
  2. Email address
  3. Physical address
  4. Mobile phone number
  5. Country of origin
  6. Base currency (US dollars, Euros, or British pound sterling)
  7. Date of birth

You'll also be asked a few questions about your financial and employment situation and your trading goals.

Identity Verification

To verify your identity with Fortrade, you will need one document for proof of identity and one for proof of address. You can fax, email or upload these documents to Fortrade.

CategoryAcceptable Documents
Proof of Identity
  • International travel passport
  • Government-issued driver’s license
  • Government-issued national/state/province identity card (including European ID card)
  • Military ID card

  • Proof of Address
  • Utility bill issued within the last 3 months
  • Financial statement issued by a bank, credit card company, insurance company or investment firm
  • Telecommunication service invoice (i.e. telephone/mobile service, internet service or pay television service) issued within the last 3 months
  • Proof of home ownership or lease agreement
  • Account Funding

    Fortrade requires a minimum deposit of £100, but the broker suggests customers deposit at least £500.

    Traders can deposit and withdraw funds with Fortrade using one of several different methods:

    Funding MethodTiming & Fees
    Credit cardInstant, no fees
    NetellerInstant, no fees
    SkrillInstant, no fees
    BitcoinInstant, no fees
    Wire TransferMinimum transfer of $250, fee up to $40*, can take up to 7 days to be credited to an account
    *Fee depends on your bank & how you pay the fee.

    Required Margins

    To ensure you can cover any losses you might incur on your positions, Fortrade requires sufficient collateral or margin. The margin available in your account will limit the size of the positions you can open.

    Fortrade requires a specific margin to be available in your account for each trade that you execute.

    You can see Fortrade’s margin rates list under the “Trading Product Details” section of their website.

    Traders who fall below the Fortrade margin requirements risk receiving a margin call and having their position closed prematurely.

    Fortrade Awards

    Fortrade offers two types of awards to traders: a Balance Award and a Credit Award.

    Balance Award

    Fortrade grants traders this award when they make a deposit to their account. This award is offered entirely at Fortrade’s discretion.

    • Target volume – Traders cannot withdraw balance awards until they reach their target volume, which is set according to the bonus amount given.
    • Trading requirement – The client must fill a trading requirement of 0.1 lot for every 1 USD/GBP/EUR award given in order to reach their target volume.
    • Example – If a trader received a 100 USD/GBP/EUR Balance Award, they will have to trade 10 lots before their Balance Award is converted to balance and becomes a part of his capital.
    • Limitations: The following countries are only eligible for a Balance Award if it's deposited via wire transfer: Bangladesh, China, Cote d’Ivoire, Egypt, Indonesia, Pakistan, Russia, Ukraine, and Vietnam.

    Credit Award

    Fortrade's Credit Award is an alternative award with additional Terms and Conditions. It is also entirely at Fortrade’s discretion.

    • Target volume – Customers must reach their target volume before they can lose or withdraw their Credit Award. The target volume is set according to the bonus amount given.
    • Equity – If a client fails to reach their target volume, Fortrade removes the credit award automatically when their equity falls below the credit award amount. Essentially, this stops you out and your open positions get closed accordingly.
    • Required lots – If a customer fulfills the required amount of 0.10 lots for every EUR/ USD/GBP of cash credit award, the award automatically becomes a part of capital and can be withdrawn or used for trading.
    • Reactivation – A customer can reactivate a Credit Award if they re-deposit at least 30% of its value.

    Customers should consult the Fortrade website for more details about how these awards work.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrade Spreads and Fees

    Fortrade receives its compensation in the form of the market bid/ask spreads on each instrument.

    Note: Spreads discussed below aren't fixed and vary with factors such as liquidity and volatility.

    Currencies

    The most liquid forex currency pairs such as EUR/USD and GBP/USD and USD/JPY have recently had average spreads of 2 pips.

    Spreads for pairs like USD/CAD, USD/CHF and EUR/CHF have recently had average spreads of 4 pips, depending on the time of day.

    Cryptocurrencies

    Average spreads over a recent three-month period were $120 for Bitcoin, $6.5 for Dash, $7 for Ethereum and $6 for Litecoin.

    Indices

    Recent sample average spreads includes:

    • 5 on AUD 200 (Australia 200)
    • 2.5 on GER30 (Germany 30)
    • 0.11 on USDX (DOLLAR_INDX)

    Stocks

    Fortrade offers trading on a wide range of stock CFDs. Traders can consult the Fortrade website for details about spreads on stock CFDs.

    Commodities

    Recent sample average spreads include:

    US Treasuries

    Recent average spreads have been:

    • 0.07 for US 5Y Note and US 10Y Note
    • 0.09 for US 30Y Bond.

    ETFs

    Recent average spreads have been 0.14 for SQQQ and TQQQ and 0.03 for USO.

    Withdrawal Fees & Other Fees

    Withdrawal Fees: Any International Telegraphic Transfer (TT) Fees incurred by Fortrade are passed on to the customer. Most International TTs are approximately $40.

    Overnight Funding Fees: This overnight Fortrade fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time. Traders can obtain information on overnight funding rates on the website.

    Dormancy Fee: If for any consecutive period of 180 days, you do not trade on your Client Account, then Fortrade considers the Client Account to be inactive or dormant. Fortrade charges a monthly administrative fee on dormant accounts of USD $10.00 (or a similar amount in such other currency). Fortrade stops charging this fee if the balance in the client’s account reaches $0.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Withdrawals and Withdrawal Times

    Fortrade has a strict policy that funds can only be returned to the source in which the deposit was made. Sums in excess of the original deposit may be withdrawn by providing an alternative withdrawal method — for example bank wire transfer, Skrill, or Neteller.

    To wire money to your bank account, Fortrade needs your past three months of bank statements. The statements must clearly show:

    • Full Name
    • Full Address
    • Full Bank details (Bank/Sort code and Account Number)

    Transfer Timing

    Fortrade processes withdrawal requests within two business days after they are submitted.

    • Wire Transfers – Usually take up to 5 business days to reach your account.
    • Debit/credit cards – Can take up to 15 business days to reach your account.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrade Trading Platforms

    Fortrade offers two trading platforms with three ways to access them:

    Trading PlatformBrowser AppMobile AppSoftware
    FortraderAny mobile or desktop deviceAndroid, iOSn/a
    MetaTrader 4Any mobile or desktop deviceAndroid, iOSWindows-only Software

    In this review, we'll take a look at these platforms and the ways you can access them.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrader Mobile App Review

    Since most traders are looking for ways to trade via their mobile devices, we'll start with the Fortrader Mobile App.

    fortrade mobile
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website. 81% of retail CFD accounts lose money.

    Beginning traders will find the Fortrader mobile app easy and intuitive to use. Let's walk through the basics.

    When you open the Fortrader app, you'll see the home screen with instruments you've chosen as favorites at the top of the list.

    Fortrader mobile favorites
    Just tap the star to create or remove a favorite instrument.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Finding Trading Instruments

    To find new instruments, just tap the magnifying glass.

    Fortrader mobile search
    Searching for new trading instruments with the Fortrader mobile app.

    Once you find an instrument you wish to trade on, tapping it will bring up the information on the instrument. For our purposes, we'll pick Crude Oil.

    Fortrader mobile basic info screen
    Viewing basic information on an instrument.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    You can make simple customizations to the chart:

    • Move between candlestick or line chart
    • Change the timeframe on the x-axis (minute, 30-minutes, hourly, daily, or weekly).

    Tap on the Info or More tabs at the bottom of the screen to see additional information about the instrument you've chosen.

    Fortrader mobile info tab
    The Info tab of Fortrader's mobile app.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Opening a Trade

    Opening a trade from this screen is as easy as tapping Buy or Sell. From the ticket screen, you can:

    • Change the trade amount (from 10 units to 100,000 units)
    • Add a stop-loss (S/L) or take-profit (T/P) options to close your trade automatically. You can choose both if you wish.
    Fortrader mobile ticket window
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Note: Stop-losses aren't guaranteed by Fortrade.

    See Your Active Positions

    Once you've placed your order, or at any time from the home screen, you can tap on the lower right “Open P&L” link to see all of your open positions.

    On an existing trade, you're free to edit your trade's S/L or T/P, duplicate the entire trade, or close it.

    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Account Information

    Tapping the Equity link at the bottom of any screen will take you to your account information where you can see your balance, open profit/loss amount, equity, margin details, and deposit funds into your account.

    Fortrader mobile account info
    Fortrader mobile account screen.

    Transfer funds

    It's easy to deposit or withdraw funds from your Fortrader mobile app. Simply tap the upper left menu icon and choose Deposit or Withdraw Funds.

    Contact Customer Support

    You can get customer support on the Fortrader mobile app via live chat, email, or phone.

    Switch to Your Practice Account

    Any time the upper left menu icon is visible, you can tap it to switch between your practice account and your real account.

    Here's a detailed look at everything you can do with Fortrader Mobile.

    Video: How to use Fortrader Mobile [10:36 minutes]
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.

    Cross-Platform Continuity

    The most important thing to know about the Fortrader mobile app is that it's nearly identical to the browser-based version of the app (reviewed below).

    You can also move between platforms seamlessly. You can open a position on your smartphone, check on it while using your laptop, and close the position on your iPad — all while using the same interface on each device.

    Fortrader Mobile App's Shortcomings

    The simple, intuitive interface of Fortrader Mobile is a point in its favor except when it comes to charting. We wish that Fortrader Mobile offered more technical analysis, even for new traders.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrader Browser App Review

    The only difference between the browser & web apps is that there's more screen area at your disposal.

    Starting Up Fortrader

    When you begin using Fortrader, the system defaults to “practice mode” and takes you through a tutorial to get you started.

    These are nice touches since many other platforms simply place you in “live mode” with no instructions on how to trade using their software.

    Fortrade Platform
    Fortrader's tutorial shows you how to get started.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Fortrader's main screen features a clean and simple layout:

    Fortrade Trading Screen
    Fortrader's main trading screen, with trading instruments on the left side.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    The platform is designed simply. Beginner traders will appreciate the way the instruments are sorted by category on the left side of the screen.

    When you open a trade, the ticket screen is also designed cleanly and simply.

    Fortrade Ticket
    Fortrader's trading ticket.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Charting

    Fortrader has fewer drawing tools and technical indicators than some more advanced charting packages like TradeStation or Interactive Brokers.

    However, Fortrader offers some advanced “hand-holding” tools overlooked by some bigger firms. For example, you'll see a link to Fortrade's “Trading Central,” which provides actionable real-time trading advice.

    Key difference: The Fortrader browser app allows for more charting options than the mobile app.

    Below you can see that the charting section is a basic position management section with open and closed trades. We wished there were more functionalities and search features incorporated with this chart for more active traders.

    Fortrader chart types
    With the Fortrade Web Trader platform, you can view multiple charts and overlay them on top of each other.
    Please note, this is an example trade – not a recommendation. This screenshot is only an illustration. Current market prices can be found on the broker website.
    81% of retail CFD accounts lose money.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    MetaTrader 4 App Review

    Since the Fortrader software is fairly basic, more active and advanced traders may opt for the MetaTrader 4 (MT4) software as an alternative.

    fortrade metatrader 4
    You can access Fortrade via the popular MetaTrader 4 app in several ways.
    81% of retail CFD accounts lose money.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Using the Fortrade Demo Account

    After you sign up for a Fortrade account, you'll be directed to the practice or demo account. Traders receive €100,000 in play money and can practice on it for as long as they wish.

    The demo accounts look like the live accounts and traders get the same functionality.

    To switch from practice trading mode to real trading mode, simply click on the “Switch to Real” button located both in the top right corner of your screen and inside your account drop-down menu.

    To toggle between a demo account and a real account, you'll need to make sure you've funded your Fortrade account and verified your identity. See our verification information above.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrade's Educational Resources

    Fortrade has a multitude of resources on the Education tab on its website. Let's look at a few of their offerings.

    Fortrade Trading Videos
    Fortrade has many resources for both beginners and experienced traders.

    Trading Academy

    Here you can find books that explain vocabulary terms around forex and CFD, video courses for novices, advanced trading courses, and other in-depth information about various topics like capital management and trading psychology. You can also learn about short-term trading strategies.

    Fortrade Webinars

    Webinars and Guardian Angel

    Fortrade hosts free webinars about forex and other trading topics.

    Fortrade also has a free chatbot called Guardian Angel that can give you feedback in real-time about your trading strategy and how it affects your goals.

    Guardian Angel can give you guidance like:

    • Alerts on global finance trends
    • Feedback on trading actions with referrals to educational content
    • Notifications about changes in market sentiment
    • Real-time regression analysis [Real Trading Mode only, not available on demo accounts]
    Fortrade News
    This screenshot is only an illustration. Current market prices can be found on the broker website.

    News and Market Analysis

    This resource contains a real-time fundamental and technical analysis of markets. There is also an economic calendar and a historical overview of markets.

    Fortrade trading tools

    Forex and CFD Trading Tools

    You can also find helpful calculators that let you convert currencies, estimate pip values, and swap rates, and determine margin percentages.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Can I Trust Fortrade?

    We believe Fortrade is trustworthy because it is registered with one of the leading international regulatory bodies, the Financial Conduct Authority (FCA).

    The FCA regulates the firm in the United Kingdom (FCA registration number FRN 609970), while the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union.

    Fortrade clients can also take comfort in the fact that the broker’s financial statements are audited by Fisher Sassoon and Marks – one of UK’s specialist financial services accounting firms.

    RegulatorCountries CoveredProtection OfferedAdditional Protection Offered
    Financial Conduct Authority (FCA), Firm Reference Number (FRN): 609970.Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.All client funds are held in a segregated client bank account
    Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if Fortrade fails.

    Start Trading Now at Fortrade.com

    Risk Warning: 81% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    Fortrade Corporate

    Fortrade is operated by Fortrade Limited. The privately held firm was incorporated in the United Kingdom in 2013, under the name Integrisafe Ltd. The firm changed its name to Fortrade and registered with the FCA in 2014.

    Fortrade's headquarters are located in London, United Kingdom.

    Fortrade Customer Support

    Fortrade provides customer support via phone or live chat 12 hours a day between 9 am and 9 pm GMT Monday through Friday. After hours, traders can send an email or leave their number to get a callback.

    Traders can view the Fortrade website in:

    • Albanian
    • Arabic
    • Croatian
    • Dutch
    • English
    • French
    • German
    • Italian
    • Macedonian
    • Polish
    • Russian
    • Slovene
    • Spanish
    • Swedish

    Fortrade's website states that customer support via phone is also available in multiple languages but doesn't specify which languages in addition to English.

    Who Runs Fortrade?

    The CEO of Fortrade Ltd., since April 2015, has been Nick Collison. Nick has over 20 years of Senior Management experience within the financial services industry including proprietary trading, fully systematic algorithmic trading, and forex & CFD matched principal broking.

    Prior to and contemporaneous with joining Fortrade, Nick Collison served as a Director at Saxon Cambridge Algorithmic Research Ltd.

    Start Trading Now at Fortrade.com

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail trader 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.

    FAQs

    Is Fortrade legitimate?

    Fortrade is a legitimate brokerage firm that is regulated by the FCA and authorized to provide services in the EU via MiFID. Fortrade’s UK customers are protected by the UK-based Financial Services Compensation Scheme (FSCS) which pays compensation up to £50k to customers in the United Kingdom if Fortrade is unable to pay.

    What does Fortrade mean?

    Fortrade is a portmanteau of the English words “for” and “trade,” which together suggest that the firm facilitates trades. In this context, “trade” is a reference to buying and selling stocks and other derivatives. Fortrade specializes exclusively in trading Contracts for Difference (CFDs).

    How do I trade in Fortrade?

    Trading in Fortrade takes place on either its Fortrader platform (for beginners and intermediate traders) or its MetaTrader 4 (MT4) platform for advanced traders. When you sign up for an account on Fortrade, a tutorial will walk you through the steps of executing your first trade.

    How do I withdraw money from Fortrade?

    To withdraw money from Fortrade, choose Deposits/Withdrawal from the menu on the upper right corner of the platform's main screen. Next, enter the amount you’d like to withdraw and choose how you would like the withdrawal paid out, including your deposit account information. Withdrawal requests are turned around within two business days.

    For wire transfer withdrawals, you must also provide bank statements as documentation. For more information on requirements, see our Withdrawals section above.

    Credits: Original Fortrade review written by Lawrence Pines. Major updates and additions in May 2020 by Natalie Mootz with contributions from the Commodity.com editorial team.

    [[{{Country}} Welcome]]
    [[{{Country}} Welcome]]