Fortrade: 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.

At first glance, Fortrade looks like one of the more reliable brokers in the trading world. It holds licenses from some of the world‘s toughest financial regulators, giving it an image of strength, trust, and legal compliance. Traders are often reassured by its approvals from the UK’s FCA, Australia‘s ASIC, Cyprus’s CySEC, and Canadas CIRO, which are widely known for their strong rules and protection for investors.

In the UK, Fortrade is licensed by the Financial Conduct Authority (FCA) as a Market Maker (License No. 609970). The FCA is known for strict standards in consumer protection and business practices, especially for brokers dealing with everyday traders. It requires high levels of transparency, strong financial health, and fair treatment of clients. These are the rules that help weed out weak or dishonest brokers.

In Australia, Fortrade is regulated by ASIC (License No. 493520), another respected authority. ASIC ensures brokers handle client funds properly, follow fair trading rules, and meet financial standards. Its also active in stopping misleading advertising and unsafe trading practices. Being licensed by both the FCA and ASIC gives Fortrade a strong reputation.

Fortrade also holds a license from CySEC in Cyprus (License No. 385/20). Although CySEC is sometimes seen as slightly less strict than the FCA or ASIC, it still follows EU laws under MiFID II. That means Fortrade must meet rules for capital reserves, risk management, and transparency. This adds to its credibility in Europe.

In North America, Fortrade operates under Canada‘s CIRO, a new regulatory body formed by merging IIROC and MFDA. Although the license number isn’t public, CIRO is known for its careful and investor-focused approach. It watches over brokers and trading platforms across the country, helping to keep the Canadian market safe.

However, despite this strong global regulatory presence, one issue stands out: a revoked license in Belarus.

Fortrade was once licensed by the National Bank of the Republic of Belarus (NBRB), under license No. 193075810. That license has now been revoked. This isn‘t a routine event like ending operations or letting a license expire, as it usually means the broker broke the rules or failed to meet the regulator’s requirements.

Revoking a license isn‘t done lightly. It often follows a pattern of non-compliance, missed deadlines, or problems uncovered during audits. While we don’t know exactly why Fortrade lost this license, the lack of public information makes it more concerning. Without answers, traders are left guessing.