Fortrade Broker Review: Demo Account, Account Types, and Fees Analysis

Fortrade Overview

Founded in 2013 in the UK, Fortrade Limited (Ltd) operates globally with headquarters in London and Watford, led by CEO Nick Collison. The company is regulated in multiple jurisdictions, including Belarus, Australia, Canada, and Cyprus. Since its inception, nearly 2 million users have registered for live accounts.

Fortrade offers Forex, commodities, indices, stocks, ETFs, and more through the MetaTrader 4 (MT4) platform and its proprietary Fortrader web terminal. Next, we will provide a detailed overview of its accounts, including the demo account, account opening process, and inactivity fees.

Is Fortrade Legit?

Yes, Fortrade is authorized and regulated by several well-known jurisdictions, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), both of which are Tier-1 regulators.

Additionally, Fortrade has expanded its operations to Canada, Belarus, and Cyprus, establishing official entities in these regions. This strict regulatory oversight ensures customer security, especially as the broker also provides compensation plans and other protective measures in case of insolvency.

Fortrade fully complies with various restrictions and guidelines, segregating client funds in independent accounts and offering protection under certain financial schemes. Under FCA regulations, if Fortrade ceases operations for any reason, traders may be eligible to file a claim through the Financial Services Compensation Scheme (FSCS).

Below is an overview of Fortrades regulatory status：

Fortrade Account Types

Fortrade offers both live accounts and demo accounts. The live account does not have multiple account types. Islamic account for traders who require an account compliant with Islamic finance principles.

How to Open a Fortrade Account?

Overall, Fortrade's registration process is not complicated; in fact, it is quite simple and fast, requiring minimal identity verification.

First, you need to find the “Create a New Account” form and fill in your name, email address, and phone number.

In the second step, you will be asked to provide additional details, including your address, city, and street, which are mandatory fields.

Finally, you just need to wait for an email confirming your successful registration.

Fortrade Demo Trading Account

The Fortrade Demo Trading Account allows users to practice trading in a risk-free environment using virtual funds to simulate real market conditions without any capital investment. Traders can explore platform features, test strategies, and switch between demo and live accounts seamlessly. The demo account is free, has no time limit, and provides an initial virtual balance of €10,000 for practice.

Switching Between Demo and Live Modes

From Demo to Live Trading:

1. Click the “Switch to Live” button located in the top right corner of the screen or in the account dropdown menu.
2. If your account is not fully registered, you will be prompted to complete the process before trading with real money.

From Live to Demo Trading:

1. Click the “Switch to Demo” button in the top right corner or in the account dropdown menu.
2. After practicing, you can return to live trading anytime by clicking the “Switch to Live” button in the same location.

Fortrades demo account provides a smooth transition between practice and real trading, ensuring traders gain confidence and experience before committing real funds.

Swap-free Account

Fortrade Swap-Free Account is designed for Muslim traders who require a Sharia-compliant CFD trading account, allowing them to trade without paying overnight rollover interest, in accordance with Islamic finance principles.

Things You Need to Pay Attention To：

• Fortrade reserves the right to cancel any misused accounts and close open positions at its discretion.
• Standard lot sizes are defined in the trading conditions.
• A management fee is applied every Thursday for all open positions held from Wednesday to Thursday at 21:00 GMT, calculated proportionally per lot.

The Weekly Rate Calculation Method for Various Instruments Under the Swap-Free Policy:

Fortrade Fees & Trading Costs

Fortrade does not charge trading commissions; instead, it applies a markup on market spreads, which are variable and depend on market liquidity.

• Spread Costs:

• The average spread for USD/GBP is 2 pips, while EUR/GBP is 3 pips.
• The S&P 500 Index has a spread of 0.6 pips.
• Compared to competitors like eToro and Plus500, these spreads are not the lowest.

• Additional Fees:

• Overnight Swap Fees apply to positions held overnight.
• Inactivity Fee: £10 / €10 / $10 is charged after six months of inactivity.

Trading Instruments & Leverage

Fortrade offers a wide range of tradable instruments up to 300 assets, including Forex, Indices, Stocks, Commodities, Cryptocurrencies, DMA, ETFs, and Bonds.

• Forex CFDs: 50+ currency pairs with leverage up to 1:200.
• Index CFDs: 20+ global indices with leverage up to 1:100.
• Stock CFDs: 100+ US & European stocks with leverage up to 1:10.
• Gold & Metals CFDs: Trade gold, silver, and other metals, leverage between 1:10 and 1:20.
• Oil & Energy CFDs: Fixed spreads on oil, natural gas, leverage up to 1:10.
• Agriculture CFDs: Trade staple food commodities & crops, leverage up to 1:50.

Trading Platforms

Fortrade offers two trading platforms: MetaTrader 4 (MT4) and its proprietary platform, Fortrader.

MetaTrader 4 (MT4) Platform

The MetaTrader 4 (MT4) platform is a widely recognized trading tool offering comprehensive features and a seamless trading experience. Available for Mac, Windows, and web, it provides 30 built-in technical indicators and 24 graphical tools like Gann lines and Fibonacci retracements.

With nine timeframes and three chart types (line, candlestick, and bar), traders can track market movements in detail. MT4 also supports automated trading via Expert Advisors (EAs), multiple order types, one-click trading, and access to a detailed trading history.

Fortrader Platform

Fortrader is a web-based, proprietary trading platform accessible from any internet-connected PC. With low-latency technology, it delivers real-time market data with high speed and accuracy.

The all-in-one platform enables traders to analyze, track, and execute trades seamlessly across devices. Compared to MT4, it features a modern design, simpler navigation, and a more intuitive interface. Users can explore the demo mode before switching to a live account.

Trading Tools

Fortrade offers a variety of essential trading tools to help traders manage their positions efficiently and make informed decisions.

• Currency Converter Tool

  Converts currencies using real-time market rates, allowing traders to quickly determine exchange values based on live data.

• Pip Value Calculator

  Calculates the exact pip value of trading positions in the traders account currency. This helps in better understanding trade sizes and their financial impact.

• Swap Rates Calculator

  Determines the overnight holding costs for open positions. Traders can calculate swap fees based on the instrument type, account currency, and trade size.

• Margin Percentage Calculator

  Computes the required margin percentage for each tradable instrument, helping traders assess leverage and ensure they have sufficient margin to open and maintain positions.

Fortrade Deposit & Withdrawal

Fortrade accepts a variety of payment methods, including Mastercard, VISA, Skrill, Neteller, PayPal, and bank transfers. The recommended minimum initial deposit is €/$/£ 500, but trading can begin with as little as €/$/£ 100.

Withdrawals

• Processing Time:

• Bank Wire Transfers: Up to 5 business days.
• Credit/Debit Cards: Up to 15 business days.

• How to Withdraw:

• Log in to your account.
• Navigate to the “Deposit/Withdraw” section in the top right dropdown menu.
• Select your withdrawal method, enter the amount, and provide any required account details.
• Requests are processed within two business days.

Things You Need to Pay Attention To：

• Anti-Money Laundering (AML) Compliance:

• Funds must be withdrawn to the same source as the original deposit.
• Bank card deposits can only be withdrawn to the same card, and only up to the deposited amount.
• Bank wire deposits must be withdrawn to the same bank account.

• Fees:

• Any wire transfer (TT) fees incurred by Fortrade are passed on to the client.
• Typical international wire transfer fees are approximately $40.

• Withdrawal Rejections:

• If your free margin/equity changes after submitting a withdrawal request, the withdrawal amount may be declined.

Conclusion

Fortrade offers a secure and well-regulated trading environment with diverse assets, user-friendly platforms, and essential trading tools. Its demo account, swap-free option, and convenient deposit/withdrawal process add flexibility for traders. While spreads and inactivity fees exist, Fortrades regulatory oversight and transparent fee structure make it a reliable choice for traders seeking a streamlined experience.

Fortrade FAQ (Frequently Asked Questions)

How do I withdraw bonus funds?

To withdraw bonus funds, you must reach a trading volume of £10,000 for every £1 bonus received. Once the requirement is met, the bonus becomes withdrawable. You can track your trading volume under “Closed Trades” in the platform. For more details, refer to the Fortrade Mauritius Bonus Conditions or contact support@fortrade.com.

What payment methods are available for deposits?

Fortrade accepts major credit/debit cards, bank transfers, and Neteller.

What is the minimum account balance required to trade?

While a €/$/£ 500 initial deposit is recommended, trading can start with as little as €/$/£ 100.

What fees and charges apply?

Fortrade charges spread mark-ups, swap fees, and dormancy fees but does not charge commissions on trades. Deposits and withdrawals are only subject to standard bank or payment processor fees.

How much are the dormancy fees?

If an account becomes inactive, a $10 monthly inactivity fee (or equivalent in account currency) will be charged.