Here at TradersBest.com we are always on the lookout for the best online trading platforms in Canada. Well, we think we may have just found a platform that warrants being in that discussion.
Our Fortrade review has uncovered some information about this exceptional site that will no doubt get you interested in signing up. From the exceptional range of trading instruments to the highest quality trading platforms, this is an online trading platform you really don’t want to be missing out on. Read on to learn more about how to sign up!
| | |  |  | |
|---|---|---|---|---|---|
| Safety | high | very high | high | high | high |
| 5 Stars | | 0% |
| 4 Stars | | 0% |
| 3 Stars | | 0% |
| 2 Stars | | 0% |
| 1 Star | | 0% |
One of the first things we noticed as we compiled our Questrade review is the generous promotional offers available to new signups. Questrade aim to go that extra mile to provide their clients with additional value, so there are regular offers and promotions to help you make the most of your assets.
Refer a friend to Questrade and you’ll receive a $25 bonus, increasing to $50 for every third successful referral. You can also benefit from a friends and family offer that allows you to connect accounts with a friend or family member for reduced fees.
Our Questrade review also picked up on the fact that the site will rebate any transfer fees charged for moving your accounts to the broker. And there are two more offers currently available right now for new signups. Use the code ‘5FREETRADES’ to receive your first five trades completely free of all commission charges. Or use the code ‘ADVANTAGE14’ to receive a month’s worth of free trades, as well as level 2 market data streaming, to get you off to a flying start.
The usability of the Fortrade platform is second to none. The platform is designed to be the perfect trading experience for both novice and veteran traders alike. We tested the platform out ourselves and found that everything ran smoothly without any delays when we switched between pages.
Most importantly though, the MetaTrader 4 software and the Web Fortrader platform ran like a dream and are exceptionally easy to use. Our Fortrade review was really impressed with the overall layout and execution of the platform. If you want to know “what is Fortrade?” Well, it’s one of the best platforms for you to trade everything from crypto and forex to a host of different CFDs seamlessly.
From what we could gather with our Fortrade review, there are currently only 2 different account options for traders to choose from. These account options include a demo account and a real account.
The demo account is a great way for traders who are maybe a little unsure about the site and simply want to dip their toe in the water before they dive into the proverbial pool. The demo account gives you access to all of the tools and features on the site where you can then trade with “fictional” currency and stocks to see how it all works.
The real account can then be switched to at any time once you have practiced with the demo account enough. As there is only one account, you won’t have to worry about any other account having access to better spreads or reduced fees. We’ll discuss these other finer points later in our Fortrade reviews.
Fees can be a bit of a pain when using these online trading platforms but when it comes to using Fortrade, you won’t be needing to pay exorbitant fees for your experience on the site. To be clear, we couldn’t seem to find much information with our Fortrade review when it came to specific trading costs per lot, or per CFD trade. However, it should be noted that there are no commission fees on the site and all general fees for a single trade are built into the spread.
One of the most crucial parts to an enjoyable and more importantly successful online trading experience with these sites is what trading platforms they make available to you. Our Fortrade review found that users could choose from either the industry favorite in MetaTrader 4 or the platform’s own Web Fortrader software.
MetaTrader 4 can be used via the BebTrader 4 software, the desktop MT4 version or the mobile MT4 software. The same options apply for the Web Fortrader software as well. If you have ever had the fortune of using MetaTrader 4 you will know that you have access to some of the best charting, analysis and more. To be more specific you’ll have access to 30 built-in technical indicators and 24 graphical objects, 9 timeframes and 3 charting types.
Our Fortrade review took the time to analyze the various payment methods on the site. When it comes to online trading, it is critical to know that you can use a payment method that you prefer when you need to top up your account.
Well, our Fortrade review found that users could make deposits using any one of these methods: all major credit/debit cards, bank transfers, and Neteller. The minimum deposit amount for any of these options is a stable $100. As we mentioned earlier, Fortrade won’t charge you a dime for any of your deposits that you make on the site.
Next up in our Fortrade review, we tested out the different modes of contact on the site for customer support. We found that users could get in touch with the support team via a live chat feature, email, international phone number and a contact form.
Contacting the customer support is super easy, as we tried it out for ourselves when we sent them a message via their live chat. We asked a few questions and were responded to within a matter of seconds for the most part (depending on the question). Our Fortrade review was really happy with the service we received and we really can’t fault their team on the quality of assistance they provide us. Our Fortrade experience and rating has been drastically increased overall after our experience using their support service.
You may be asking yourself, in spite of all the information we have already covered, “is Fortrade safe to use?” or “are there any Fortrade scams to worry about?” Well, we know not to be pulled in by the shiny things and bright lights. Instead, we made sure to cover the security measures and potential insurance back up on the site with our Fortrade review.
Firstly, it’s important to know that Fotrade is fully licensed and regulated by The Investment Industry Regulatory Organization of Canada (IIROC). This means that the platform is completely legal in its current operations. More so than that though, Fortrade also uses the latest in SSL-encryption software which layers your information and data on the site to make it all but unreadable for any malicious hackers or nefarious 3rd parties. Check out our eToro review for a comparison of another major site’s security measures.
There are plenty of additional features on the Fortrade site to write home about but to us, it’s all about the trading platform capabilities. The fact that you can access 6 different platforms for mobile, web trading and your desktop is exceptional. That is a fantastic range to choose from and all of them can be used at once as well which makes the whole experience that much more fulfilling.
Aside from that, we found that there are plenty of educational resources on the platform as well that will make the lives of newbie traders so much easier. You can learn about everything from pip calculators to in-depth trading seminars. To show you just how good these resources are, compare them with our Forex.com review.
For all of you forex enthusiasts who are looking for a new online trading home, you may want to stop off at Fortrade. Our Fortrade review found that the platform has a stellar range of currency pairs to trade with on the site right now. There are currently more than 60+ currency pairs to choose form on the site that include major pairs such as EUR/USD, GBP/USD, USD/JPY, minor pairs such as AUD/NZD, NZD/CAD, NZD/JPY and exotic pairs like EUR/DKK, EUR/PLN and GBP/TRY. There are tons of options so you won’t be short on trading opportunities.
The pricing policy is somewhat unclear when it comes to trading forex pairs on the Fortrade platform. However, Fortrade makes it clear with the live graphs on the site when spreads change between currency pairs. Our Fortrade review found that the average spreads on major currency pairs are around 2 pips for the EUR/USD and 3 pips for the EUR/GBP. You can check out the rest of the spreads in more detail on the platform itself.
Our Fortrade review found that the broker operates between Sunday and Friday for forex trading. You can also use the customer support service 24/5 for your forex trading needs. They operate between the hours of 21:01 – 20:59 GMT.
As far as your leverage capabilities go for forex trading, our Fortrade review found that traders could take on leverage of up to 1:30.
In comparison to the crypto accessibility on the site, the forex section of Fortrade is far better. There are plenty of options for currency trading that should satiate even the most avid of forex traders. The Fortrader reviews from past users alone makes us think this site is the perfect place for forex trading.
There is a fantastic range of trading instruments to be traded via CFDs at Fortrade. Our Fortrade review found that users could trade 300 different market instruments via CFDs. These include main categories such as indices, cryptocurrencies, precious metals, stocks, energy products and more.
The trading fees are fairly minimal when it comes to trading in CFDs on the Fortrade platform. However, your spreads across the major instruments will vary pretty significantly. For example, your average spread for a currency pair like GBP/USD is 2 pips. The average oil spread is around 0.4 and your stocks are far too variable for us to speculate on an average, but you can keep up with the live changes on the Fortrade platform. We highly commend checking out the detailed fees and spreads page over at Fortrade before you start trading in CFDs.
As far as trading conditions go for CFD trading at Fortrade, you are given the opportunity to trade with up to 1:30 leverage. Remember , trading on a margin that large can bring about serious risks, especially when trading with CFDs. We will always advise caution when it comes to trading on leverage with CFDs so be sure that you are absolutely confident in the trade you want to execute.
Overall, our Fortrade review was most impressed with what we found for CFD trading on the platform. The spreads are very competitive in relation to other sites, which you can see with our AvaTrade review if you would like to compare. All in all, if CFD trading is your preferred method of online trading, you won’t be sorry if you decide to check out the Fortrade platform.
Fortrade is by no means a one trick pony when it comes to the instruments they provide for their users. If traders want to branch out into the world of crypto trading, they have the capabilities to do so. Look, in all honesty, the range of cryptos available are not necessarily going to blow crypto fans’ socks off, but it’s more than enough for your average crypto trader. As it stands, users can either own the underlying crypto asset or they can trade cryptio through CFDs. Our Fortrade review found that users could choose from 4 different cryptos that included the industry favorites Bitcoin, Dash, Litecoin and Ethereum.
To be perfectly honest, there is no real nailing down an average spread or average pricing for cryptocurrency on the platform. If you know anything about cryptocurrency you know that it can be quite volatile and so establishing the average price is pointless. You’ll have to stay abreast of the pricing changes versus the Dollar yourself. However, if you are trading Fortrade crypto via CFDs, there is a little more predictability. Our Fortrade review found that in the last couple of months, Bitcoin spreads started from $100, Ethereum from $5, Litecoin from $7 and Dash from $6.5.
The only real trading condition to be wary of here is that you can trade crypto on leverage of up to 1:2 if you trade via CFDs. Aside from that, the trading conditions with regards to additional deposit fees and spreads are all fairly standard.
Overall, our Fortrade review was happy with what we found for the most part when it came to the crypto offering on the site. With that being said, we would like to see a couple more crypto options added to the platform in the future. There are currently only 4 to choose from and we would like to see some of the other more popular altcoins made available for the more avid crypto traders who may decide to use the site.
Our Fortrade review gives you a closer look at how you can create your account with this exceptional online trading platform. Simply check out the rest of our review to see how you can get started today.
Leverage can be a tricky thing to manage but it can also bring about some serious profits. However, not all trading sites allow you to trade on leverage which is why our review made sure to evaluate whether or not you can do so with Fortrade.
There are plenty of online traders who deal exclusively with currency pairs. Our Fortrade review makes sure to give you some insight into the potential forex trading capabilities on the site right now so that you know for sure before you actually sign up.
That brings our Fortrade review to a close. As you can see, this is a trading platform that gives you some of the best tools for forex, crypto and CFD trading. We highly recommend checking this site out even if it’s just to use their demo account. It will be worth your while. However, if you still feel like you are looking for something else then we suggest taking a look at our CMC Markets review or our Questrade review.
This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.
