FortFS has become a citadel of forex trading among thousands of traders in different regions of the world since its 2010 founding. FortFS is among the select brokerages hat allow its clients to choose from a number of trading software applications that it offers.
FortFS also delves into the business of providing excellent support to beginning traders through its education facility and a specialized account dedicated to starting traders. Additionally, FortFS provides special offerings that enable clients to confidently and smoothly trade.
Furthering its portfolio, by partnering with the most notable liquidity providers, FortFS infused contracts and advanced order processing. The broker takes pride in its well-recognized and awarded services. On top of its prize-winning programme, FortFS provides its clients with opportunities to expand the markets that they are given access to through the creation of commercial implements alongside cutting-edge trading infrastructure.
At the end of this analysis, we’ll rundown FortFS’ services and available features, especially the most crucial aspects of its business.
FortFS Benefits and Drawbacks
Enlisting FortFS’s services equip one with these advantages:
- An array of trading software options
- Low account minimum
- Special offerings like PAMM and copy trading
- a set of bonuses
On the flip side, here are the setbacks of trading with FortFS
- Regulatory issues (as the broker is not regulated)
- Complicated commission scheme
- U.S. traders are not covered by the broker’s service
Security and Regulation
Good regulatory standing is important and a must-have among brokers. Traders wanting to trade within secure and safe online trading site go to traders with good regulatory credentials being backed by major regulating institutions. As for FortFS, this aspect is something that is missing to its strong lineup of services. In other words, FortFS is an offshore broker.
If FortFS decides to go for a solid regulatory adherence, it can provide a big boost to its marketability and appeal, especially among beginning traders. It will also serve as a gateway to reach greater jurisdictions and expand its reach.
On the bright side, FortFS turned heads and was recognized by several financial institutions. FortFS had received multiple accolades including the Best Broker Asia 2017 and Best News and Analysis Provider 2017.
Trading Infrastructure: Fees and Fostered Conditions
Fees and Features
FortFS is a novice trader-friendly broker in light of its affordable and top-tier trading service. There are three accounts available to beginner traders the Newbie, Flex, and Fort accounts provide avenues through investment of small capital for as low as $5. On the other hand, the firm’s Pro Account is accessed by depositing a minimum of $500.
The preliminary accounts have zero commission rates for currency pairs.
Both the bonuses and dividends are gifted only through the Flex and Fort accounts. Meanwhile, traders are also given the option to open Demo Accounts which are of course free of charge.
Interestingly, FortFS allows one profile to create and manage up to 25 trading accounts.
Charges for Deposits and Withdrawals
FortFS customers can fund their accounts through a selection of options. While withdrawals usually come with fees, deposits are mostly free. For the former, the reflection of transactions in eWallets is instant, payments through plastic take three to seven days, and the usual lead time for local Asian banks is two business days.
Among FortFS’ strengths is its trading software offering. The firm sports a number of such, which includes the industry-popular MT4 and MT5, the CQG Trader, and the innovative NinjaTrader.
CQG is not offered for free while NinjaTrader had been made available only through desktop. MT4 and MT5 remain the most viable option among FortFS users with utter convenience and efficiency.
Broker Type: ECN/STP broker
Regulatory Affiliation: None
Covered Jurisdictions: present in over 30 countries worldwide
Financial Instruments: forex (featuring 140 currency pairs), stocks, commodity futures, cryptocurrencies, and ETFs
Offered Platforms: MT4, MT5, NinjaTrader, CQG
Methods for Funding: credit cards (including Mastercard and Visa) online payment solutions such as Skrill, Neteller, and Fasapay just to mention a few.
Account Offerings: Newbie, Flex, fort, Pro
Customer Support: email, online contact form, telephone, live chat
Given its trading software and account offerings, beginning traders may be off to a good start. However, the pressing regulatory issue of this broker remains a major concern, especially when compared to other decade-old brokers in the industry.