ForTrade Review 2020

ForTrade Awards

ForTrade have won numerious industry awards over the 26 years they have been operating as a financial broker. We list the most notible awards and mentions for ForTrade below.

• Successfully trebled their revenue from 2015 to 2016. Reached £16 million turnover for 2016

ForTrade General Fees

• ForTrade doesn't charge withdrawal fees
• ForTrade does charge inactivity fees
• ForTrade does charge deposit fees

Broker	ForTrade	XTB	eToro	Pepperstone
Min Deposit	1	0	200	200
Withdrawl Fees	No	varies	Yes	No
Inactivity Fees		No	Yes	Yes
Deposit Fees		No	No	No
CFD Commission Fees		Yes	No	Yes

ForTrade Commissions

• ForTrade does charge commission on CFD instruments.

Trading on ForTrade web platforms and other applications

ForTrade offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

ForTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

ForTrade Trading benefits :

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

ForTrade Trading Accounts Offered :

• Demo account
• Mini account
• Standard account
• STP account
• Islamic account

Can I try ForTrade before I buy?

ForTrade offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

ForTrade withdrawl and funding methods.

ForTrade offer the below funding payment methods. learn more about ForTrade

• Credit cards
• Bank Transfer
• PayPal
• Payoneer
• Neteller

Broker	ForTrade	XTB	eToro	Pepperstone
Bank transfer	Yes	Yes	Yes	Yes
Credit Cards	Yes	Yes	Yes	Yes
Paypal	Yes	Yes	Yes	Yes
Skrill	No	Yes	Yes	Yes
Payoneer	Yes	Yes	Yes	Yes
Neteller	Yes	Yes	Yes	Yes

How can I start trading with ForTrade?

When opening a trading account with ForTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ForTrade trading platforms here.

Performing trades with ForTrade

ForTrade allow you to execute a minimum of trade of . This may vary depending on the account you open. ForTrade allow you to execute a maxium trade of . As ForTrade offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a nice bonus, ForTrade are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.

ForTrade also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, and much more. You can see all of the account features offered by ForTrade here.

ForTrade Leverage and ForTrade CFDs Explained

let's take a look at some of the basics of using ForTrade leverage.

ForTrade offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

ForTrade leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the ForTrade trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The ForTrade leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

ForTrade CFDs are typically used for short to medium term trades. For example ForTrade intraday trading.

Limiting Your Risk When Trading with ForTrade Negative Balance Protection

We should say something about negative balance protection with ForTrade. When trading using leverage an adverse move could result in losing more than your trading account balance at ForTrade. Your ForTrade account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of your account the money in your account.

Limit Risk When Trading with ForTrade Stop Loss, ForTrade Stop Limit Orders

A stop-loss order is an order placed with a broker like ForTrade to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at ForTrade

To trade effectively with ForTrade, it's important to get a have a good understanding of the XTB trading tools and the markets.

ForTrade offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with ForTrade.

Take time to look around the ForTrade platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at ForTrade

ForTrade support a limited number including

ForTrade have a double AA grade support rating because ForTrade offer live chat and email support and less than three languages.

Livechat Support at ForTrade

We tested the ForTrade live chat and it works well. We sent messages to ForTrade livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with ForTrade support in multiple languages in multiple countries. ForTrade where able to quickly resolve our customer issues.

Email Support at ForTrade

We sent several emails to ForTrade and answer times overall were excellent. The fastest response from ForTrade was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with ForTrade, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from ForTrade.

Phone Support at ForTrade

We called ForTrade and the call was answered very quickly. The call was answered in less than 5 minutes.

The ForTrade phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual ForTrade team by calling in varying languages. ForTrade made an effort to make sure our queries were answered.

Overall great phone support from ForTrade.

See how ForTrade Support Compares Against Other Brokers

Broker	ForTrade	XTB	eToro	Pepperstone
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages		English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, German, Spanish, French, and Italian	English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More	Visit ForTrade	Visit XTB	Visit eToro	Visit Pepperstone
Risk Warning	Your capital is at risk	Your capital is at risk	65% of retail investor 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.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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

What you will need to open an account with ForTrade

As ForTrade is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore ForTrade's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with ForTrade you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.fortrade.com/ on 12th August 2018.

Watch this ForTrade Informational Video

ForTrade review written by Andrew Blumer and Mark Hansen