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Score

8.10 /10
Good

Fortrade

United Kingdom

10-15 years

Regulated in Australia

Market Maker (MM)

MT4 Full License

Global Business

Belarus Retail Forex License Revoked

High potential risk

https://www.fortrade.com

Influence

A

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Comparison

Quantity 8

Exposure

Open Account
Website

Score

Regulatory Index9.35

Business Index8.12

Risk Management Index0.00

Software Index9.88

License Index9.28

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ID BAPPEBTI
2022-02-02
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Broker Information

More

Company Name

Fortrade Limited

Company Abbreviation

Fortrade

Platform registered country and region

United Kingdom

Company website

X

Facebook

YouTube

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 3
Previous Detection : 2025-10-21
  • WikiFX has received a total of 6 user complaints against this broker, please be aware of the risks and do not be scammed!
  • The number of this brokers's negative field survey reviews has reached 3. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

Fortrade

United Kingdom

WikiFX Verification

Exposure

8 pieces of exposure in total
Pyramid scheme complaint
Expose
Resolved

Forex

Have to pay individual income tax to withdraw funds after profiting

2020-12-24 09:12
Unable to Withdraw

Unable to withdraw. Is this platform real or fake

I can’t withdraw money repeatedly and ask me to invest in it. Is this platform worthy of trust?

2021-01-20 13:32
Unable to Withdraw

Have to pay risk control funds and margin, 70,000

In the normal operation, I was told that I violated the regulations and the account was frozen. The deposit is OK, but the withdrawal is difficult.

2021-01-19 07:07
Scam

I deposited $100 into

I deposited $100 into Fortrade as you can see in the proof, but after funding the account the money never showed up for trading. The platform keeps pushing me to deposit more but when it comes to using or withdrawing my money, it’s a nightmare. Capital still shows $0 even after payment confirmation. This broker is a complete scam, they just take deposits and block you from accessing your funds. Be very careful, don’t fall for their tricks.”

2025-08-27 19:52
Resolved

They don't admit my deposits

They keep pushing me to dpeosit funds but I haven't been allowed to withdraw funds

2021-06-08 03:05
Unable to Withdraw

Unable to withdraw

It rejected withdrawal and said the transaction volume was not enough. I thought it was a scam and I had to report it.

2021-09-01 21:49
Scam

I deposited $100 into

I deposited $100 into Fortrade, but my account still shows $0 balance. Whenever I ask about it, they just push me to deposit more. I haven’t been able to withdraw a single dollar. Total scam behavior.

2025-09-11 18:15
Unable to Withdraw

Over the period of 9

Over the period of 9 months, I have been called countless times. I did try their account by depositing 100$. Once I was approved the account said that there were no funds. I ended up depositing another $100 and again the account was not funded. After a lengthy back and forth, the funds appeared in my account. As far as the account itself, it cannot compete with ThinkorSwim, TradeZeroPro or even several banks that charge $9.99 per trade. Also, they will not refund my money to my credit card after telling me they would take care of it immediately. I am currently still trying to get the funds back. Never use this company if you want to see your money again...

2025-08-25 09:42
    Sources
    Data Source WikiFX Data provide
    Updated: 2025-10-21
    Fortrade · Company summary
    Fortrade Review Summary
    Founded2013
    Registered Country/RegionHong Kong
    RegulationASIC, FCA, CySEC, CIRO, NBRB
    Market InstrumentsCFDs on currencies, stocks, indices, precious metals, energy products, agriculture products, and US treasuries
    Demo Account✅
    Islamic Account✅
    LeverageUp to 1:200
    EUR/USD SpreadFloating around 2.5 pips
    Trading PlatformFortrader, MT4
    Min Deposit€/$/£ 100
    Payment MethodsMasterCard, Visa, Skrill, Neteler, PayPal
    Customer Support24/5 live chat, contact form
    Tel: +44 204 571 7564
    Email: infomu@fortrade.com, support@fortrade.com
    Facebook/Twitter/YouTube
    Restricted RegionsThe United States and Belgium

    Fortrade Information

    Founded in 2013, Fortrade is a regulated mult-asset broker registered in Hong Kong, offering trading in CFDs on currencies, stocks, indices, precious metals, energy products, agriculture products, and US treasuries on Fortrader and MT4 trading platforms.

    Fortrade Information

    Pros and Cons

    Pros Cons
    24/5 live chat supportNo 24/7 customer support
    Regulated wellClients from the United States and Belgium are not accepted
    MT4 availableWide EUR/USD spread
    Demo accounts availableNegative comments about the difficulty in withdrawing money
    Various tradable instruments
    Swap free

    Is Fortrade Legit?

    Fortrade currently holds multiple regulatory licenses, including

    • Australia Securities & Investment Commission (ASIC)
    • Financial Conduct Authority (FCA)
    • Cyprus Securities and Exchange Commission (CySEC)
    • Canadian Investment Regulatory Organization (CIRO)
    • National Bank of the Republic of Belarus (NBRB)
    Regulated CountryRegulated byRegulated EntityLicense TypeLicense No.
    		ASICFORT SECURITIES AUSTRALIA PTY. LTD.Market Making(MM)000493520
    		FCAFortrade LimitedMarket Making(MM)609970
    		CySECFortrade Cyprus LtdMarket Making(MM)385/20
    		CIROFortrade Canada LimitedMarket Making(MM)Unreleased
    		NBRBFort Securities BLR Limited Liability CompanyRetail Forex License193075810

    Regulated by ASIC
    Regulated by FCA
    Regulated by CySEC
    Regulated by CIRO
    Regulated by NBRB

    What Can I Trade on Fortrade?

    Fortrade offers a wide range of market instruments, including CFDs on currencies, stocks, indices, precious metals, energy products, agriculture products, and US treasuries.

    Tradable InstrumentsSupported
    CFDs✔
    Currencies✔
    Stocks✔
    Indices✔
    Precious metals✔
    Energy products✔
    Agriculture products✔
    US treasuries✔
    Cryptocurrencies❌
    Bonds❌
    Options❌
    ETFs❌

    Account Type

    Fortrade provides demo accounts and Islamic accounts.

    The demo account is predominantly used for familiarizing traders with the trading platform and for educational purposes only.

    Islamic users are allowed to open Islamic accounts with no swap fees. Clients following the Muslim faith can open a forex & CFD trading account without any rollover interests on overnight positions swap interests).

    Leverage

    The maximum leverage is 1:200, meaning that profits and losses are magnified 200 times. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

    Trading Platform

    Fortrade cooperates with the authoritative MT4 trading platform and a propriety trading platform - Fortrader, available on the Web, Windows, and Mobile (iOS and Android).

    Trading PlatformSupported Available Devices Suitable for
    Fortrader✔Web/Mobile (iOS/Android)-
    MT4✔Web/Windows/Mobile (Android)Beginners
    MT5❌-Experienced traders
    Fortrader
    MT4

    Deposit and Withdrawal

    The minimum deposit is €/$/£ 100. Fortrade accepts Mastercard, Visa, Skrill, Neteller, and PayPal for deposit and withdrawal.

    Deposit and Withdrawal

    News

    ExposureWARNING: Fortrade Successive Withdrawal Issues Reported

    Fortrade broker faces multiple withdrawal complaints, allegations, regulatory fines, and office verification issues. Recent $2M CIRO penalty highlights ongoing problems.

    WikiFX
    2025-09-19 18:53
    WARNING: Fortrade Successive Withdrawal Issues Reported

    NewsFortrade: A Closer Look at Its Licenses

    When selecting a broker, understanding its regulatory standing is an important part of assessing overall reliability. For traders seeking to protect their capital, ensuring that a platform operates under recognised and stringent oversight can make all the difference. Keep reading to learn more about Fortrade and its licenses.

    WikiFX
    2025-07-30 17:50
    Fortrade: A Closer Look at Its Licenses

    ExposureFortrade Lost its Belarus License

    Fortrade, a London-based retail broker, has recently faced significant regulatory changes in the Belarusian financial market, causing ripples in its operations and raising questions about its authorization status.

    WikiFX
    2024-01-05 17:29
    Fortrade Lost its Belarus License

    NewsCySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

    CySEC, the Cypriot financial market regulator, maintains its war on noncompliance, announcing enforcement action against two more regulated entities on Tuesday, Ayers Alliance Financial Group Limited and BrokerCreditService (Cyprus) Limited.

    WikiFX
    2022-04-20 11:51
    CySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance
    About More

    User Reviews

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    User comment

    10

    Comments

    Write a review

    Engin6356
    0-3months
    I deposited $100 into Fortrade, but my account still shows $0 balance. Whenever I ask about it, they just push me to deposit more. I haven’t been able to withdraw a single dollar. Total scam behavior.
    I deposited $100 into Fortrade, but my account still shows $0 balance. Whenever I ask about it, they just push me to deposit more. I haven’t been able to withdraw a single dollar. Total scam behavior.
    Translate to English
    2025-09-11 18:15
    Reply
    0
    0
    Carreyalex
    0-3months
    I deposited $100 into Fortrade as you can see in the proof, but after funding the account the money never showed up for trading. The platform keeps pushing me to deposit more but when it comes to using or withdrawing my money, it’s a nightmare. Capital still shows $0 even after payment confirmation. This broker is a complete scam, they just take deposits and block you from accessing your funds. Be very careful, don’t fall for their tricks.”
    I deposited $100 into Fortrade as you can see in the proof, but after funding the account the money never showed up for trading. The platform keeps pushing me to deposit more but when it comes to using or withdrawing my money, it’s a nightmare. Capital still shows $0 even after payment confirmation. This broker is a complete scam, they just take deposits and block you from accessing your funds. Be very careful, don’t fall for their tricks.”
    Translate to English
    2025-08-27 19:52
    Reply
    0
    0
    8