ScamBroker Fortrade is a company that is based out of the UK and offers trading services for a wide range of currencies. They offer customer service, leverage ratios, spreads and reward and promotion programs. Read on to learn more about them and their benefits.
Spreads
If you’re looking for a forex broker, ForTrade might be right for you. They are one of the most popular brokers in the market. Their spreads are reasonable and have various currency pairs to choose from.
The minimum deposit is 100 USD. You can also open a demo account. However, the spreads are higher on a standard account. So if you are starting, you might want to start with a mini version.
Some major forex currency pairs have spreads ranging from 3 to 0.5 pips. This range can vary depending on the volatility of the market. Also, there are different spreads for each day of the week. On Wednesday evenings, a swap fee is charged.
In addition to Forex, ForTrade offers trading on stocks and CFDs. It has over 200 currency pairs available. And it has excellent customer support. Withdrawals are processed within two business days.
The Financial Conduct Authority (FCA) regulates the company in England. It also has a complaint page.
Leverage ratios
Leverage may be your best friend if you’re a newcomer to the forex game. Leverage allows you to trade more significant currency with a minimal deposit. For example, a $250 stake would enable you to control $12,500 in cash. However, leverage is also risky.
In a nutshell, leverage is a loan provided by a broker to boost your available capital. Traders generally use it in two ways. Firstly, leverage enables their overall portfolio’s capital, which they can invest in various markets. Secondly, leverage magnifies gains and losses. So you can lose more money than you had, but you can also earn more. Depending on your preferences and the underlying market, you can leverage your assets in many ways.
Leverage is not a requirement in every jurisdiction, but it does vary depending on the regulatory environment of the jurisdiction where your broker provides their services. Thus, it would be best if you always exercise caution. This is especially true when you’re trading in a volatile market.
Customer service
Fortrade Limited was founded in the United Kingdom in 2013. The company’s headquarters are in London and Watford, with offices in Australia, Canada, and Belarus. It offers several proprietary and industry-standard MT4 platforms and access to international financial markets. Its customer support is available 24 hours a day and can help set up your account.
As a broker, Fortrade is regulated by several regulatory bodies, including those in Canada, Cyprus, Australia, and Belarus. To prevent fraud, it’s essential to use an accredited and regulated broker. If you are suspicious of a broker, it’s best to find a more reliable alternative.
