FORTFS Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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Dear All be aware. FortFs is not executing withdrawals. I have no open trades, requested to withdraw about 3000 usd, was told that maximum is 500 usd and only trough PerfectMoney. First request was early February. So far received 2000 usd but with countless emails and requests to them. Account is fully verified, no issues ever. Been a customer for years.
FortFS, an online trading platform established in 2010, has garnered mixed reviews from traders and experts alike. While it offers an array of trading instruments and competitive leverage, concerns over its regulatory status and customer service persist. This review aims to provide a comprehensive overview of FortFS, highlighting key features, user experiences, and expert opinions.
Note: It's crucial to recognize that FortFS operates under different entities across regions, which may affect user experience and regulatory oversight. This review synthesizes information from various sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Experience | 6 |
| Trustworthiness | 3 |
| User Experience | 5 |
We evaluate brokers based on user feedback, regulatory compliance, and the overall trading environment.
Fort Financial Services Ltd, commonly known as FortFS, was founded in 2010 and is headquartered in Saint Vincent and the Grenadines. The broker provides access to popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to both novice and experienced traders. FortFS offers a diverse range of assets, including forex, commodities, indices, shares, and cryptocurrencies. However, it is important to note that FortFS lacks stringent regulatory oversight, primarily operating under the International Financial Services Commission (IFSC) of Belize.
FortFS is registered in Saint Vincent and the Grenadines and claims to be regulated by the IFSC. However, many experts consider this regulatory body to be less reliable than tier-one regulators like the FCA or ASIC. According to BrokersView, the lack of robust regulation raises concerns about the safety of client funds.
The minimum deposit required to start trading with FortFS is just $5, making it accessible for new traders. The broker supports various deposit methods, including credit cards, e-wallets like Skrill and Neteller, and local bank transfers. However, withdrawal experiences have been mixed, with some users reporting delays and complications. A user on Myfxbook noted issues with withdrawal requests, emphasizing the need for caution.
FortFS is known for its attractive bonuses, including a no-deposit bonus of $100 and deposit bonuses ranging from 10% to 200%. These promotions can be appealing, but they often come with stringent trading requirements. According to Forexing, traders must complete significant trading volumes to withdraw bonus funds, which could deter some users.
FortFS offers a wide range of tradable assets, including over 50 currency pairs, commodities like gold and silver, indices, and cryptocurrencies. However, the trading conditions vary significantly across different account types. The "Newbie" account allows for a minimum deposit of just $5 with floating spreads starting at 0.3 pips, while the "Pro" account requires a minimum deposit of $500 and offers tighter spreads.
The cost structure at FortFS can be complex, with floating spreads and commissions applicable on certain assets. While forex trading may not incur commissions, users should be aware of potential fees associated with CFDs and other instruments. According to DayTrading, the commission structure is not always transparent, which could lead to unexpected trading costs.
FortFS provides access to several trading platforms, including MT4, MT5, CQG, and NinjaTrader. While MT4 is popular among beginner traders for its user-friendly interface, MT5 offers more advanced features for experienced traders. However, some users have reported connectivity issues and slow execution times, impacting their overall trading experience.
FortFS does not accept clients from certain jurisdictions, including the United States. This limitation may affect potential traders looking to access the platform from these regions.
Customer service at FortFS has received criticism for being slow and unresponsive. Users have reported delays in receiving assistance, particularly during withdrawal requests. According to Global Fraud Protection, the lack of effective customer support can be a significant drawback for traders seeking immediate help.
In conclusion, while FortFS offers a variety of trading opportunities and low minimum deposits, potential traders should exercise caution due to its regulatory status and mixed user reviews. The attractive bonuses and diverse asset offerings may appeal to some, but the concerns surrounding customer service and withdrawal processes cannot be overlooked. Overall, FortFS may be suitable for experienced traders who can navigate its complexities, but beginners should consider more regulated alternatives.
For those interested in exploring FortFS further, its essential to weigh the pros and cons carefully, as user experiences can vary widely. Always conduct thorough research before committing funds to any trading platform.
