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Fortrade Broker Review

Regulated by: FCA, ASIC, IIROC, CySEC, NBRB
Headquarters Country: United Kingdom
Foundation year: 2013
Supported Platforms: MT4, web trader
Minimum Deposit: 100$
Types of Assets: FX, commodities, indicies, stocks, crypto
Maximum Leverage: 1:400
Demo Account: Yes

Regulation and Security

Fotrade is a broker that was founded in the UK in 2013 under the name Fortrade Limited. The broker later opened offices in Canada, Belarus, Australia, and Cyprus after opening its initial location. The broker is governed by laws from each of the five governments: CySEC, FCA, ASIC, IIROC, and NBRB. It goes by the same name everywhere—Fortrade Ltd., Fort Securities Pty. Ltd., and Fort Securities LLC. We may conclude that Fortrade appears to be a reliable broker thus far.

The broker claims that it is operating in accordance with ESMA regulations and maintaining funds in top-tier institutions when it comes to the security of the funds. Customers can trade using either the Fortrade-developed web trader or the MT4 mobile app. In terms of data security, Fortrade broker complies with GDPR.

In which countries does this broker work?

The broker may lawfully conduct business in Canada, the UK, Belarus, Canada, and the EEA region, in accordance with its legislation. Additionally, a license from the Belarusian bank allowed the business international reach. We looked at the client testimonials and discovered that the business operates without any limitations. From the USA to Australia, it serves the entire world market. When opening an account, you should check to which entity you belong very carefully.

How Online Trading Scams Work?

Everyone needs to use extra caution when engaging in internet trading. Although there are many brokers, not all of them are trustworthy. Additionally, not all of them will give you your money back.

How did it all begin? By phone call or advertisement. You are persuaded to invest your money after seeing or hearing something. And it makes perfect sense. You are making investments in well-known companies like Tesla, Facebook, and Amazon. possibly bitcoin or gold. Not even that matters. You understand that this asset is performing well because you are investing. You are aware that a profit is possible. But what happens if you hand up cash to a phony broker? A lot. First of all, a broker keeps calling you and pleading with you to increase your investment. You receive a number of financial and ROI plans. Everything sounds fine. Whatever the situation, stillness follows repeated insistent calls. You are no longer a person of interest. You no longer make a suitable victim since you either invested all the money you had planned to invest or you have run out of money. After that, you’re disregarded. Your emails are not being answered. The broker won’t answer the phone. You transitioned from the phase of chasing to the phase of ignoring. After that, you start to doubt. You notice some profit and want to take it out. You can’t, though. Many justifications. Documents, the level of the margin, and the broker away. 

Is Fortrade a good broker or scam?

Multiple regulatory organizations oversee the broker Fortrade. Check to which organization you belong, nevertheless, before opening an account.

But given the numerous complaints that have been made regarding this broker, we caution you to proceed with caution.

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