86.59% of retail investor accounts lose money when trading CFDs with this provider

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ForTrade Review

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ForTrade is a forex and CFD trading broker. They give traders access to a wide variety of instruments in several markets like currencies, commodities and bonds. For traders interested in cryptocurrencies like Bitcoin, ForTrade offers cryptocurrency CFDs.

Pros

  • Segregates client funds
  • Established in 1992
  • Regulated by Financial Conduct Authority
  • Min. deposit from $1

Cons

To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, ForTrade offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 609970). ForTrade puts all client funds in a segregated bank account and uses tier-1 banks for this. ForTrade has been established since 1992, and have a head office in UK.

Before we dive into some of the more detailed aspects of ForTrade ’s spreads, fees, platforms and trading features, you may want to open ForTrade ’s website in a new tab by clicking the button below in order to see the latest information directly from ForTrade.

Visit ForTrade

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

ForTrade screenshot Open a demo account

86.59% of retail investor accounts lose money when trading CFDs with this provider

What are ForTrade's spreads & fees?

Like most brokers, ForTrade takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on ForTrade’s website. The colour bars show how competitive ForTrade' spreads are in comparison to other popular brokers featured on BrokerNotes.

ForTrade
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, ForTrade’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ForTrade vs. similar brokers.

See all Spreads

How much does ForTrade charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with ForTrade at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $16.91. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

ForTrade XTB AvaTrade
Spread from: $ 10.00 $ 2.00 $ 7.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 10.00 $ 2.00 $ 7.00
$8 less $3 less
Visit ForTrade Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

General Fees

  • ForTrade does charge inactivity fees
  • ForTrade doesn’t charge withdrawal fees*

Commissions

  • ForTrade does charge commission on CFD shares

What can you trade with ForTrade?

ForTrade offers over 304 different instruments to trade, including over 70 currency pairs. We’ve summarised all of the different types of instruments offered by ForTrade below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies ForTrade XTB AvaTrade
# of forex pairs offered 70 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs ForTrade XTB AvaTrade
# of commodities offered 0 21 16
Metals Yes Yes
Energies Yes Yes
Agricultural Yes Yes
Index & Stock CFDs ForTrade XTB AvaTrade
# of Stocks offered 190 1606 99
UK Shares Yes Yes
US Shares Yes Yes
German Shares Yes Yes
Japanese Shares Yes Yes
See ForTrade's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments

What’s the ForTrade trading experience like?

1) Platforms and apps

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

ForTrade Screenshot

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

See ForTrade 's platforms

Trading Features:

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

Accounts offered:

  • Mini account
  • Standard account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

ForTrade allows you to execute a minimum trade of . This may vary depending on the account you open. ForTrade allows you to execute a maximum 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. You can see the latest margin requirements on their website.

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.

Finally, we’ve listed some of the popular funding methods that ForTrade offers its traders on the right.

Funding methods:

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

3) Client support

ForTrade support a limited number including .

ForTrade has a BrokerNotes double AA support rating because ForTrade offer live chat, phone, email support and less than three languages.

4) What you’ll need to open an account with ForTrade

As ForTrade is regulated by Financial Conduct Authority , 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 01/10/2019.