FortFS Forex Trade Platform and Broker Review

FortFS Forex Trade Platform and Broker Review

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FortFS Broker Review

FortFS is an award-winning, offshore broker which was founded in 2010 in Saint Vincent and the Grenadines. FortFS’ main services include offering a range of financial instruments to beginner, advanced, and professional forex traders.

FortFS has between 10 and 50 employees and only has offices based in St. Vincent and the Grenadines.

Is FortFS Regulated?

No, FortFS is not regulated.

FortFS is incorporated in Saint Vincent and the Grenadines as an International Business Company. FortFS provides trading solutions and services involving financial lending, borrowing, trading, service activities, brokerage services, training, and managed account services in the following:

  • Currencies 
  • Commodities
  • Indexes
  • Contract for difference (CFDs)
  • Leveraged financial instruments.

Is FortFS Regulated in the United States?

No, FortFS is not regulated in Virginia or any other US state. 

Is FortFS Regulated in Europe?

No, according to the official website, FortFS is not regulated in Europe.

Is FortFS regulated in a Tier-1 Jurisdiction?

Tier-1 Jurisdiction provides brokers with the license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official FortFS website, FortFS is not regulated in Tier-1 jurisdiction.

Is FortFS regulated in Tier-2 Jurisdiction?

Tier-2 Jurisdiction grants brokers the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, FortFS is not regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in FortFS?

FortFS offers forex traders a choice between different trading platforms according to their unique trading needs, objectives, and level of trading experience. FortFS offers the use of MetaTrader 4, MetaTrader 5, CQG Trader, and NinjaTrader.

  1. FortFS’ MetaTrader 4 features built-in indicators for convenience and accuracy, in-depth technical analysis, constant news, and reliable sources that help with fundamental analysis. There is also an intuitive, customizable interface, a variety of indicators, charting capabilities, and more.
  2. FortFS’ MetaTrader 5 offers Forex traders with advanced trading capabilities, multi-asset access, and the benefits of a powerful trading platform combined with market-depth and separate orders as well as trades. There is also the use of either traditional netting or hedging systems, giving forex traders a competitive edge.
  3. The FortFS CQG market terminals are designed for use by professional forex traders when trading global derivatives, futures, options, indices markets along with spreads and OTC products. 
  4. FortFS’ NinjaTrader is a professional platform that offers sophisticated social trading. NinjaTrader also offers advanced market analysis, the development of trading strategies, and trade simulation. In collaboration with FortFS, NinjaTrader offers algorithmic and automated systems amidst several others.

Does FortFS Have a News Blog for Forex News?

Yes, FortFS offers forex traders an updated news blog for forex news on the official website. With this, forex traders can stay up to date with the latest news and it can help them conduct more thorough fundamental analysis.

Does FortFS Have a Traders Dashboard?

Yes, FortFS has a forex traders Dashboard that offers forex traders the latest updates in news along with access to trading accounts, history, statements, events, updates, and more.

To access the forex traders Dashboard, forex traders must have registered for the Trader’s Room on the official FortFS website.

Does FortFS Have an Educational Section?

Yes, FortFS has an education system designed for beginner forex traders. 

What is the content of FortFS Forex Education?

FortFS has a seven-part learning system that takes forex traders through all the aspects of forex trading. Each section has in-depth information on forex trading that forex traders must read and familiarise themselves with before they start trading.

The learning system consists of the following parts:

  1. Introduction
  2. The Trading Terminal
  3. Technical Analysis
  4. Fundamental Analysis
  5. The Psychology of a Trader
  6. Trading Advisors
  7. Trading with Futures

Is FortFS Legit?

No, FortFS is not legit. According to the FortFS official website, FortFS does not have regulation or authorisation in any jurisdiction to provide trading solutions and services. As a result of a lack of regulation, the security of client funds cannot be ensured.

Is FortFS Safe?

No, FortFS is not a safe forex broker. According to the official FortFS website, the broker does not have regulations and can therefore not guarantee client fund security.

Is FortFS a Good Broker?

In terms of security, FortFS is not a good broker as a result of a lack of regulation according to the official website. In terms of trading speed, online support, and cryptocurrencies, FortFS can be considered a good broker.

  1. In terms of trading speed, FortFS operates through a Straight Through Processing (STP) model with execution speeds that start from 0.1 seconds which is achieved through Interbank ECN liquidity.
  2. In terms of online support, FortFS offers forex traders a live chat function that can be accessed from the official FortFS website.
  3. In terms of cryptocurrency, FortFS offers Ripple, Bitcoin Cash, Ethereum, Litecoin, and Bitcoin as contracts for difference (CFDs).

What is the Offering of Investment in FortFS?

Offerings of FortFS can be found below.

Feature FortFS
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does FortFS have Nasdaq?

Nasdaq is the index that tracks the top technology stocks in the United States.

As an owner of Nasdaq, FortFS offers the trade-in indices and shares CFDs.

What are the Awards of FortFS?

Forex Trading Platform FortFS’ awards are listed below.

  1. Best Forex Broker (2019) – Fxdailyinfo.com.
  2. Best News and Analysis Provider (2019) – Fxdailyinfo.com.
  3. Best Newbie Account (2018) – Academy of Trading MasterForex-V.
  4. Best Cryptocurrency Broker (2018) – Fxdailyinfo.com.
  5. Best Forex Broker Asia (2018) – Fxdailyinfo.com.

How to Use FortFS for Forex trading?

To use FortFS, a forex trader should have the necessities below:

  1. Forex traders must have a valid ID and proof of their residential address.
  2. Forex traders must be 18 years or older.
  3. Be able to afford the minimum deposit of $5 for a FortFS Newbie, Fort, or Flex account and $500 for a FortFS Pro Account.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of FortFS.

How to open a Forex trader account with FortFS?

To open a Forex Trading account with FortFS, a trader should follow the steps below.

  1. Forex traders can visit the official FortFS website and select “Open Account” from the toolbar anywhere on the website.
  2. Once selected, forex traders will be redirected to a page detailing the account types that are offered by FortFS. forex traders can select the account they wish to open and select the “Open Account” banner beneath the account type.
  3. Forex traders must register for the Trader’s Room by providing their country of residence, email address, and user-selected password.
  4. Once logged in, forex traders can navigate to the account section, select “Trading Account” and “Open Trading Account”.
  5. Forex traders must select whether they want to register a Forex, S.T.A.R Investments, CQG, or NinjaTrader Account and follow the application procedure for each.
  6. Once forex traders have provided the necessary information, they will be required to provide proof of their identity and their residential address before their account will be approved.

What are the Forex Trader Account Types with FortFS?

Forex Trading Platform and Financial Asset Management Institution FortFS have 6 different account types that are offered.

FortFS Account Types are listed below. 

  1. Demo Account

  2. Islamic Account

  3. Newbie Account

  4. Fort Account

  5. Flex Account

  6. Pro Account

 

  • Demo Account

FortFS offers forex traders the option of registering for a demo account. With the free FortFS demo account, forex traders can practice trading, test out their trading strategies, or explore what FortFS has to offer in a risk-free trading environment.

  • Islamic Account

Muslim forex traders who follow the Sharia Law are prohibited from earning or paying interest. For this reason, FortFS offers Muslim forex traders with Halal trading conditions by making the Newbie Account the default Islamic Account where swaps are not credited/debited.

In addition, Muslim forex traders also have the option of registering for a FortFS Fort or Flex Account that can be converted to an Islamic Account.

  • Newbie Account

The FortFS Newbie Account caters specifically to inexperienced forex traders that help forex traders to develop their strategies and trading skills. With the Newbie Account, forex traders can expect these features:

  • A minimum deposit of $5.
  • Using USD as the base account currency.
  • 5-digit price accuracy.
  • Floating spreads from 0.3 pips.
  • Trade execution from 0.3 seconds.
  • Leverage of 1:1000.
  • Commission-free trading on forex but $10 commissions charged on CFDs.
  • The margin of 50% and stop-out level of 25%.
  • Micro Lot trading from 0.01 lots up to 10 lots.
  • Ability to trade without a spread.

 

  • Fort Account

The FortFS Fort Account offers more experienced forex traders with competitive trading conditions and a wide range of financial instruments that can be traded. With the Fort Account, a trader can expect these features:

  • A minimum deposit of $5.
  • Using either USD or EUR as the base account currency.
  • 4-digit price accuracy.
  • Fixed spreads from 2 pips.
  • Execution from 0.3 seconds.
  • Access to leverage up to 1:1000.
  • Commission-free trading on forex with a $10 commission charged on CFDs.
  • Margin of 50% and stop-out level of 30% on USD/EUR and USD/EUR cents.
  • Micro Lot trading from 0.01 lots.
  • Ability to convert the account to a cent account.
  • Ability to trade without a spread.
  • Option to convert this account to an Islamic Account.

 

  • Flex Account

The FortFS Flex Account, as the name suggests, is a flexible account that offers forex traders comprehensive and competitive trading conditions, catering to a variety of forex traders. This account type features the following:

  • A minimum deposit of $5.
  • Using either USD or EUR as the base account currency.
  • 5-digit price accuracy.
  • Floating spreads from 0.3 pips.
  • Execution from 0.3 seconds.
  • Access to leverage up to 1:1000.
  • Commission-free trading on forex with a $10 commission charged on CFDs.
  • The margin of 50% and stop-out level of 30% on USD/EUR and USD/EUR cents.
  • Micro Lot trading from 0.01 lots.
  • Ability to convert the account to a cent account.
  • Ability to trade without a spread.
  • Option to convert this account to an Islamic Account.

 

  • Pro Account

The FortFS Pro Account caters to professional forex traders who need the best possible trading conditions. The Pro Account has the following features:

  • A minimum deposit of $500.
  • Using either USD or EUR as the base account currency.
  • 5-digit price accuracy.
  • Floating spreads from 0.1 pips.
  • Execution from 0.1 seconds.
  • Access to leverage up to 1:100.
  • Commissions from $9 per round turn.
  • The margin of 80% and stop-out level of 40%.
  • Micro Lot trading from 0.01 lots.

How to Withdraw Money from FortFS?

To withdraw money from FortFS, the following should be done:

  • Forex traders can log into their Trader’s Room on the official FortFS website.
  • Forex traders can select the “Accounts” dropdown and select “Withdraw”.
  • Forex traders can select the account that they want to withdraw funds from and their preferred method of withdrawal.
  • A window will pop up onto the screen and forex traders can follow the prompts to complete their withdrawal request.

How many days do deposits take with FortFS?

Depending on the payment method, according to the FortFS official website, some deposits can take from a few seconds up until a few days.

What are the costs and fees with FortFS?

There are four types of costs with FortFS namely swap or overnight fees, spreads, commissions, and margin requirements.

Swaps or overnight fees are credited/debited according to the long/short position that the trader holds after the trading day has concluded. The spread refers to the difference between the bid/ask price expressed in pips while commissions are a flat fee charged either per lot, per side, per round turn, or depending on the volume traded.

Margin requirements are expressed as a percentage that the broker needs at the beginning of the trade as collateral for the trade.

What are the Trading Fees with FortFS?

The Forex Trading Fees with FortFS are below. 

The FortFS Newbie Account:

  1. Spread: floating from 0.3 pips.
  2. Commission: $10 on CFDs
  3. Margin: 50%
  4. Swap Fees: Buy swap of -11.97 and sell swap of -0.22.

The FortFS Fort Account:

  1. Spread: Fixed from 2 pips.
  2. Commission: $10 on CFDs.
  3. Margin: 50%
  4. Swap Fees: Buy swap of -11.97 and sell swap of -0.22.

The FortFS Flex Account:

  1. Spread: Floating from 0.3 pips.
  2. Commission: $10 on CFDs.
  3. Margin: 50%
  4. Swap Fees: Buy swap of -11.97 and sell swap of -0.22.

The FortFS Pro Account:

  1. Spread: Floating from 0.1 pips.
  2. Commission: from $9 per round turn.
  3. Margin: 80%
  4. Swap Fees: Buy swap of -11.97 and sell swap of -0.22.

What is the minimum deposit in FortFS?

According to the official website, the minimum deposit in FortFS is $5 for a Newbie, Fort, and Flex Account and $500 for a FortFS Pro Account. 

What are the contract specifications in FortFS?

Feature FortFS
Forex Trading Yes
CFDs 50+
Forex Pairs 50
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 5
Social Trading  Yes

Does FortFS have promotional offers?

Yes, FortFS Trade and Exchange platform has promotional offers for existing as well as new forex trading account holders. These promotional offers are as follows:

  1. Welcome, Bonus of $35.
  2. Deposit Bonus
  3. Deposit bonus 200%
  4. MegaProtect Bonus
  5. Unlimited Leverage
  6. Auto Rebate

Does FortFS have a welcome bonus?

Yes, FortFS offers a welcome bonus of $35.

The welcome bonus offered by FortFS is a no-deposit bonus that offers forex traders the chance to start trading without an initial deposit. FortFS offers forex traders with $35 in trading credit that can be used to start trading.

Does FortFS have a deposit bonus?

Yes, FortFS offers a deposit bonus.

FortFS offers forex traders a 50% and a 200% deposit bonus. The 50% bonus is available to all clients and will depend on the amount that forex traders deposit into their trading account. The 200% deposit is only available for a limited time and will depend on the amount that forex traders deposit.

Is there a commission-free trade bonus in FortFS?

No, FortFS does not offer forex traders a commission-free trade bonus.  

Is there a VIP bonus in FortFS?

No, FortFS does not offer forex traders a VIP bonus.

Can you start trading with no money at FortFS?

Yes, you can start trading with no money at FortFS. According to the official FortFS website, new forex forex traders are given a $35 welcome bonus which is trading credit that can be used without forex traders making an initial deposit to start trading.

How does leverage work with FortFS?

Leverage is a trading tool that brokers offer forex traders, allowing them to open larger positions despite their initial deposit on the trade. 

According to the official FortFS website, FortFS offers forex traders with leverage up to a maximum of 1:1000.

Where are the headquarters of FortFS?

FortFS is headquartered in Beachmont Kingstown, St. Vincent, and the Grenadines.

Who is FortFS’ CEO?

According to an official FortFS support agent, this is information that cannot be provided to third-parties.

What are the social media accounts of FortFS?

Forex traders can follow FortFS on the following social media accounts:

  • Facebook
  • Twitter
  • Blog
  • Instagram
  • YouTube
  • Telegram

How many employees work for FortFS?

There is no official source that clarifies the precise number of employees at FortFS. However, due to its operation size, it can be deduced that there are between 10 and 50 employees working for FortFS.

What are the opinions about FortFS?

FortFS is an offshore broker that is not regulated and for this reason, there are very few opinions on the broker. The few opinions that exist would suggest that FortFS is a good broker but that its offering lacks substance when compared to what other brokers offer.

What are FortFS’ Contests?

FortFS offers the following contests:

  1. Rewards Program
  2. RateBattle
  3. Cash4Signal

The FortFS Rewards program offers forex traders with real money for sharing posts. This contest is available to all account holders and requires that forex traders read the requirements associated with social media profiles. This also includes instructions for sharing posts on these platforms.

This requires forex traders to join the FortFS communities on social media platforms and track their tasks in the Rewards Program section in the Trader’s Room.

The FortFS Rate Battle offers forex traders the chance to win $30 without any trading turnover requirements. forex traders who want to participate must send their forecast to the #NQ100 price at the end of the trading session every Friday to the Telegram FortFS Group.

The FortFS Cash4Signal Contest allows forex traders to win $15 every week for the best trading signals without having to comply with trading turnover requirements. 

All that forex traders need to do is become a member of the FortFS Telegram Group, wait for the financial instrument to be announced each Tuesday, send a screenshot of the trader’s signal with “#Cash4Signal” to the Telegram group, wait for the results that are released each Wednesday.

Does FortFS have online support?

Yes, FortFS offers online support to forex traders by providing a live chat function on the website.

Does FortFS offer demo accounts for Forex trading?

Yes, FortFS offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Forex traders can visit the official FortFS website and select the “Open Account” banner.
  2. Forex traders can select the “Open Account” under the Newbie Account when the account type page loads.
  3. Forex traders must complete the registration form for the Trader’s room. Once logged in, forex traders can navigate to the accounts area to find their demo account.

Does FortFS have a mobile app for Forex trading?

No, FortFS does not have a mobile app for forex trading. FortFS offers mobile trading through the MetaTrader 4 and MetaTrader 5 mobile applications that can be downloaded on Android and iOS devices.

Does FortFS publish an economic calendar?

FortFS publishes an economic calendar on the official website that forex traders can use.

Economic calendars are crucial trading tools as they offer forex traders with important information on upcoming releases from around the world. These events could affect financial markets and cause price fluctuations that may affect the trading activities of numerous forex traders.

With the FortFS economic calendar, forex traders have the option of filtering results according to date parameters along with selecting the relevant time zone. Forex traders can also select to only view the important releases.

What is the communication information of FortFS?

FortFS has two telephone numbers and one main business address.

FortFS can be contacted telephonically by using the following:

Saint Vincent and the Grenadines: +371 67 66 0716

Indonesia: +62 813 7934 8759

FortFS’ main business address is Suite 305, Griffith Corporate Centre, Beachmont Kingstown, Saint Vincent and the Grenadines.