FORTFS Forex Broker

Fortfs Broker - Complete Information Guide

1. Broker Overview

Fort Financial Services Ltd, commonly known as Fortfs, was established in 2010. The company is headquartered in Kingstown, Saint Vincent and the Grenadines, with additional offices in Malaysia and Indonesia. Fortfs operates as a private company, primarily serving retail clients across various global markets, including regions such as the UK, Singapore, and South Africa.

Since its inception, Fortfs has aimed to provide comprehensive trading services, focusing on forex, CFDs, and futures markets. Over the years, the broker has expanded its offerings and gained recognition for its customer-centric approach, highlighted by attractive promotions such as no deposit bonuses. A notable milestone in its history includes receiving multiple awards, including the title of Best Forex Broker Asia in 2016.

The business model of Fortfs encompasses retail forex trading, catering to both novice and experienced traders. The broker offers a wide range of financial instruments, aiming to meet the diverse needs of its clientele.

2. Regulation and Compliance Information

Fortfs operates under the jurisdiction of the International Financial Services Commission (IFSC) of Belize. The broker holds a license with the number IFSC/60/256/TS/14, which grants it the authority to conduct brokerage activities. However, it is important to note that the regulatory framework provided by the IFSC is considered less stringent compared to other top-tier regulators, such as the FCA in the UK or ASIC in Australia.

The license is valid for a range of financial services, allowing Fortfs to offer trading in various asset classes. However, the lack of robust regulatory oversight raises concerns among potential clients regarding the safety of their funds. Fortfs claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to ensure compliance and protect against fraudulent activities.

The company maintains a client fund segregation policy, which ensures that clients' funds are kept separate from the broker's operational funds. However, there is currently no participation in an investor compensation fund, which could provide additional security for clients in the event of insolvency.

3. Trading Products and Services

Fortfs provides a diverse range of trading products, catering to various trading preferences. The broker offers more than 50 currency pairs, including major, minor, and exotic pairs. In addition to forex, Fortfs also provides access to a variety of CFD products, including:

• Indices: Access to major global indices such as the FTSE 100 and NASDAQ.
• Commodities: Trading options for gold, silver, oil, and other commodities.
• Cryptocurrencies: A selection of 13 cryptocurrencies including Bitcoin and Litecoin.
• Futures: Opportunities to trade on bonds, indices, metals, currencies, and energies.

The broker's product offerings are regularly updated to include new instruments, ensuring that traders have access to the latest market trends. Fortfs primarily focuses on retail trading services, but it also offers features that may appeal to institutional clients, such as advanced trading platforms and tools.

4. Trading Platforms and Technology

Fortfs supports several trading platforms, with the most notable being MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are well-regarded in the trading community for their user-friendly interfaces and comprehensive features.

MetaTrader 4 (MT4)

• Intuitive interface suitable for both beginners and experienced traders.
• Features include multiple chart types, time frames, and built-in technical indicators.
• Allows for automated trading through Expert Advisors (EAs).

MetaTrader 5 (MT5)

• Advanced platform offering enhanced tools for algorithmic trading and price analysis.
• Supports more order types and allows traders to open up to 100 charts simultaneously.

In addition to MT4 and MT5, Fortfs offers the CQG trading terminals, which provide direct market access to over 40 global exchanges. The CQG platform is designed for professional trading, offering advanced charting and analytics tools.

Another platform available is NinjaTrader, which provides sophisticated market analysis and trade simulation features, catering to professional traders looking for advanced functionalities.

Fortfs also offers mobile trading applications for both MT4 and CQG, allowing traders to manage their accounts and execute trades on the go.

5. Account Types and Trading Conditions

Fortfs offers four main types of trading accounts, each designed to meet the varying needs of traders:

• Newbie Account:
• Minimum deposit: $5
• Floating spreads starting from 0.3 pips
• High leverage up to 1:1000
• Commission: No commission on forex trades, but $10 on CFDs.
• Flex Account:
• Minimum deposit: $5
• Floating spreads starting from 0.3 pips
• Leverage: Up to 1:1000
• No commission on forex trades.
• Fort Account:
• Minimum deposit: $5
• Fixed spreads starting from 2 pips
• Leverage: Up to 1:1000.
• Pro Account:
• Minimum deposit: $500
• Floating spreads starting from 0.1 pips
• Leverage: Up to 1:100.
• Commission: $9 per lot (per side).

All accounts allow for a minimum trade size of 0.01 lots. Fortfs also offers a demo account, which allows traders to practice without risk. The leverage options vary based on the account type and trading conditions, and overnight fees apply depending on the positions held.

6. Fund Management

Fortfs supports a variety of deposit methods, catering to the needs of its global clientele. Accepted deposit methods include:

• Bank Transfers
• Credit Cards (Visa, Mastercard)
• E-Wallets (Skrill, Neteller, Perfect Money, WebMoney, FasaPay)

Minimum Deposit Requirements

• Newbie, Flex, and Fort Accounts: Minimum deposit of $5.
• Pro Account: Minimum deposit of $500.

Deposit Processing Times

Deposits are generally processed instantly, except for local bank transfers, which may take 2-5 business days.

Withdrawal Methods and Limits

Withdrawals can be made through the same methods as deposits. The minimum withdrawal limits are as follows:

• $0.1 for e-wallets (WebMoney, Perfect Money, Skrill, Qiwi).
• $5 for FasaPay and Neteller.
• $20 for card payments.
• $15 for local Asian banks.

Withdrawal processing times vary, with e-wallets being processed instantly, while card payments may take 3-7 business days.

7. Customer Support and Educational Resources

Fortfs provides multiple channels for customer support, including:

• Email: support@fortfs.com
• Phone: +371 67 66 0716
• Live Chat: Available on the website.

Service Hours

Customer support is available from Monday to Friday, between 05:00 and 23:00 (GMT +3).

Multilingual Support

Fortfs offers support in various languages, catering to its diverse client base.

Educational Resources

The broker provides a range of educational materials, including webinars, tutorials, and e-books, to help traders enhance their skills. Additionally, market analysis services are offered, including daily updates, news, and research reports.

8. Geographic Coverage and Restrictions

Fortfs serves clients from various regions, primarily focusing on markets in Asia, Europe, and Africa. However, it does not accept clients from the United States.

Regional Offices

In addition to its headquarters in Saint Vincent and the Grenadines, Fortfs has established offices in Malaysia and Indonesia, expanding its reach in the Asian market.

Special Restrictions

While Fortfs aims to provide comprehensive services, potential clients are advised to exercise caution, especially given the broker's unregulated status.

In conclusion, Fortfs presents a range of trading options and services, targeting both novice and experienced traders. However, the lack of stringent regulatory oversight may raise concerns for potential investors. Always consider your trading needs and risk tolerance before engaging with any broker.