ForTrade – what we know and have as facts about it; ForTrade is a trade name of the group of companies that includes Fortrade Ltd., which is authorized and regulated in UK by the Financial Conduct Authority (FCA) under reference number 609970; Fort Securities LLC., which is authorized and regulated in Belarus by the National Bank of the Republic of Belarus (NBRB) under reference number 193075810; Fort Securities Australia Pty Ltd, which is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 493520; Fortrade Canada Limited, which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and Fortrade Cyprus Ltd., which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) under license number 385/20. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Client Agreement document that ForTrade arranges for the execution of client orders with another entity (the Liquidity Provider) and does not execute them itself as a principal to principal against the client. The company receives monthly commissions from the Liquidity Provider calculated as a percentage of the volume of orders sent for execution every month or in other words, it uses the Straight Through Processing (STP) model to execute the orders, acting on behalf of a client. This means that the company is not a counterparty to every client transaction and there is no conflict of interest between the parties.
We also found that there are some posts in forums about poor customer support, delayed processing of deposits, aggressive phone calls, wrong advice from account managers, unreasonable cancellation of winning orders and problems with withdrawals.
So far, we have not received any complaints from customers of ForTrade. If you have any criticism to share with us or feel annoyed by ForTrade, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and ForTrade if you wish.