Fort Trades Forex Broker

Fort Trades Forex Broker - Complete Information Guide

1. Broker Overview

　　Fort Trades is an online trading broker established in 2017. The company operates under the name Fort Trades Ltd, with its headquarters located at 1902 Bonham Trade Centre, 50 Bonham Strand, Central, Hong Kong. It is a privately-held entity that aims to provide trading services to both retail and institutional clients.

　　The primary market served by Fort Trades includes a diverse range of clients interested in trading forex, commodities, cryptocurrencies, and CFDs. The company claims to offer trading in more than 85 currency pairs alongside various other financial instruments such as indices and precious metals.

　　Fort Trades has positioned itself as a global trading platform, though it is important to note that it operates as an offshore broker. The firm has faced scrutiny regarding its regulatory status, which has raised questions about the safety of client funds. Despite these concerns, it has been able to attract clients with promises of high leverage and a variety of account types.

　　The business model of Fort Trades focuses on retail forex trading, providing clients with access to a range of financial products through its trading platform. However, potential investors should be cautious, as the lack of robust regulatory oversight can pose significant risks.

2. Regulatory and Compliance Information

　　Fort Trades is registered under the International Financial Services Commission (IFSC) of Belize, but it does not hold a valid license to operate as a forex broker. The IFSC has issued warnings stating that Fort Trades may be operating in breach of the IFSC Act, which adds to the uncertainty surrounding its regulatory compliance.

• Regulatory Bodies:
• International Financial Services Commission (IFSC), Belize
• License Number: The broker has been associated with a fraudulent license number (IFSC/60/350/TS/16), as indicated by the IFSC.

　　The company does not guarantee the safety of client funds as it lacks a segregated account policy. Furthermore, there are no investor compensation schemes in place to protect clients in the event of insolvency.

　　Fort Trades claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures; however, the effectiveness of these measures is questionable given the broker's lack of substantial regulatory oversight.

3. Trading Products and Services

　　Fort Trades offers a wide range of trading products to its clients, including:

• Forex: The broker provides access to over 85 currency pairs, catering to various trading strategies.
• CFDs: Clients can trade Contracts for Difference on various assets, including:
• Stock Indices
• Commodities (such as oil and precious metals)
• Cryptocurrencies (including Bitcoin)

　　While Fort Trades promotes a diverse offering, the frequency of product updates and the addition of new instruments remain unclear. The broker does not specify the exact number of available CFDs or any unique trading products that set it apart from competitors.

　　The services are primarily aimed at retail traders, with no clear indication of specialized services for institutional clients or white-label solutions. This lack of transparency may deter potential clients looking for a more comprehensive trading experience.

4. Trading Platforms and Technology

　　Fort Trades claims to support the MetaTrader 4 (MT4) trading platform, which is widely recognized for its reliability and user-friendly interface. However, there are concerns regarding the actual availability of MT4, as many users have reported difficulties in accessing the platform after opening a live account.

• Platform Availability:
• MetaTrader 4 (MT4) is allegedly supported, but users have found no downloadable version.
• Web Trading Platform: The broker offers a web-based platform, though details about its functionality and features are limited.
• Mobile Applications: There is no clear indication of dedicated mobile applications for iOS or Android devices.
• Execution Model: Fort Trades operates as a Market Maker, which can lead to potential conflicts of interest.

　　The technical infrastructure of Fort Trades, including server locations and capabilities for automated trading via API, has not been disclosed in detail, raising further concerns about the broker's operational transparency.

5. Account Types and Trading Conditions

　　Fort Trades offers multiple account types, each with varying conditions:

• Minimum Deposit: The most basic account requires a minimum deposit of $5,000, which is significantly higher than the industry average.
• Spreads: Spreads vary by account type, starting from 1.5 pips for the basic accounts and potentially lower for premium accounts.
• Leverage: Clients can access leverage up to 1:500, which can amplify both potential profits and losses.
• Minimum Trade Size: The minimum trade size is 0.01 lots for most accounts, with specific requirements for higher-tier accounts.

　　There are also specialized accounts for cryptocurrency trading, but the details surrounding these accounts, including fees and conditions, remain vague. Fort Trades does not offer demo accounts, which is a significant drawback for new traders seeking to practice before committing real funds.

6. Fund Management

　　Fort Trades supports various deposit methods, including:

• Bank Transfer
• Credit/Debit Cards
• E-wallets (such as Perfect Money and Bitcoin)

　　The minimum deposit varies depending on the account type, with the lowest being $5,000. The processing time for deposits is not explicitly stated, and there are no clear indications of deposit fees.

　　Withdrawal methods are limited to the same systems used for deposits, which can complicate the process. Clients have reported lengthy withdrawal processing times of 2 to 5 business days, and there are claims of a 20% withdrawal fee, which is exceptionally high for the industry.

7. Customer Support and Educational Resources

　　Fort Trades provides several customer support channels, including:

• Email: contact@fort-trades.com
• Phone: +860-2151-021972
• Live Chat: Availability is not confirmed.

　　The support service does not specify operating hours or coverage across different time zones, which may hinder accessibility for international clients.

　　In terms of educational resources, Fort Trades lacks comprehensive offerings such as webinars, tutorials, or market analysis reports. This absence of educational content can be a significant disadvantage for novice traders seeking to enhance their trading knowledge and skills.

8. Regional Coverage and Restrictions

　　Fort Trades claims to accept clients from various countries, but detailed information about regional restrictions is lacking. The broker does not provide a clear list of countries where it operates or any jurisdictions where it is prohibited from accepting clients.

　　Given the regulatory issues surrounding Fort Trades, prospective clients are advised to conduct thorough research and consider the potential risks before engaging with the broker.

　　In conclusion, while Fort Trades broker presents itself as a comprehensive trading platform with a wide array of products and high leverage, the lack of credible regulation, high minimum deposit requirements, and limited customer support raise significant concerns. Potential investors should exercise caution and consider these factors carefully before deciding to trade with Fort Trades.