CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Home » Reviews » ForTrade

ForTrade Review

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

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

Cons

  • Doesn’t offer MT5 (See alternatives)
  • A minimum deposit of $1 is required to establish a live account. Alternatively, ForTrade provides a demo account that you may use to experiment and become acquainted with their platform.

    Regulated by the Financial Conduct Authority, UK (FRN: 609970), CySEC (Licence: 385/20), and ASIC (AFSL #493520), ForTrade keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. ForTrade has been in business since 1992 and has its headquarters in the United Kingdom.

    Before we get into the specifics of ForTrade’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.

    VISIT FORTRADE

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

    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 commissions and spreads shown here are based on the ForTrade website’s minimum spreads.

    ForexForTradeCity IndexXTB
    EUR/USD(Average: 0.7 pips)2.5 pips0.7 pips0.1 pips
    GBP/USD(Average: 1.1 pips)3.5 pips1.7 pips0.1 pips
    USD/JPY(Average: 1.1 pips)2.5 pips0.6 pips0.1 pips
    AUD/USD(Average: 0.8 pips)3 pips0.6 pips0.2 pips
    USD/CHF(Average: 2.3 pips)3.5 pips2.3 pips0.2 pips
    USD/CAD(Average: 2.9 pips)3 pips0.5 pips0.3 pips
    NZD/USD(Average: 3.6 pips)4 pips2.8 pips0.3 pips
    EUR/GBP(Average: 2.4 pips)2.5 pips0.5 pips0.1 pips

    Spreads are dynamic and are for informational purposes only.

    As you can see, the minimum spread for trading EUR/USD at ForTrade is 2.5 pips, which is very high when compared to the average EUR/USD spread of 0.70 pips. The table below compares how much it would cost to trade one lot of EUR/USD with ForTrade vs other brokers

    SEE ALL SPREADS

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

    If you bought one standard lot of EUR/USD (100,000 units) with ForTrade at an exchange rate of 1.1719 and sold it the next day at the same rate, you would most likely pay $16.91. Here is a general breakdown of the fees and how they compare to IG and XTB.

    ForTradeIGXTB
    Spread from:$ 25.00$ 6.00$ 2.00
    Commission:$0.00$0.00$0.00
    Total cost of a 100k trade:$ 25.00$ 6.00$ 2.00
    $19 less$23 less
    VISIT FORTRADEVISIT IGVISIT XTB

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

    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 IG and XTB for comparison.

    FX / CurrenciesForTradeIGXTB
    # of forex pairs offered709048
    Major forex pairsYesYesYes
    Minor forex pairsYesYesYes
    Exotic forex pairsYesYesYes
    Cryptocurrencies*YesYesYes
    Commodity CFDsForTradeIGXTB
    # of commodities offered03421
    MetalsYesYes
    EnergiesYesYes
    AgriculturalYesYes
    Index & Stock CFDsForTradeIGXTB
    # of stocks offered19080001606
    UK sharesYesYes
    US sharesYesYes
    German sharesYesYes
    Japanese sharesYesYes
    SEE FORTRADE’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

    Visit ForTrade

    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.

    They 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

    Still not sure?

    Open a practice account & learn to trade

    2) Executing Trades

    ForTrade allows you to execute a transaction for as little as. This may differ based on the type of account you establish. ForTrade allows you to perform one transaction at a time. Because ForTrade provides STP execution, you may anticipate narrower spreads and greater transparency into the price you pay to execute your transactions.

    As an added benefit, ForTrade is one of the few brokers who claim no requotes, so you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

    Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.

    ForTrade also has a variety of important risk management tools, such as stop losses (including trailing stops), limit orders negative balance protection, and much more. You may view all of their account features here.

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

    Trading Features:

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

    Accounts offered:

    • Mini account
    • Standard account
    • Islamic account

    Funding methods:

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

    3) Client support

    ForTrade supports a limited number of languages including English.

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

    Since ForTrade is regulated by the Financial Conduct Authority, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and that you are eligible to trade. When you establish an account, you will most likely be asked for the following information, so have it 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 prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

    While you may be able to explore their site right away, keep in mind that you will not be allowed to execute any transactions until you pass compliance, which might take several days depending on your circumstances.

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

    Fortrade

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    79% of retail investor accounts lose money when trading CFDs with this provider.

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