An honest and real review of Fort Trades
Finding the right brokers for trading is difficult. Especially if you are new to trading, and you are looking for a broker that is legit. Fort Trades brokers are one of the brokers that you can choose online. However, are they legit or not? This is a really important question that you need to ask, and you should make sure that you are getting the right information. This is why this honest and real review of Fort Trades are so important.
Fort Trades is a forex and CFD broker. They are situated in Hong Kong. They posted a valid address and telephone number. There are also two valid email addresses. However, this doesn’t mean that this is a recommended broker to use. There are many reasons why you should rather look for another, better brokers online.
They have all the necessary information about their accounts and other fees. It seems like their minimum deposit is acceptable and they have different accounts that you can choose. There are traders that are using them, but according to regulators, this is risky to use them at all.
Are they registered and regulated?
This can be confusing. They are registered but at an offshore company. This means that they are registered, but not with an international and accredited company. This also means that they aren’t regulated.
At the end of the day, it doesn’t really matter that they stated that they are registered. Just because they aren’t regulated, it means that the registration doesn’t count. It can be a fake company that doesn’t even exist where they are registered with. It is essential to use brokers that are registered and regulated internationally. Then, you can know that your brokers can be trusted completely.
They say that they are using MT4
They claim to use MT4. However, there isn’t any proof that they are really using the right MT4 platform. There are cheaper and illegal options as well on the market. And, most of the scam brokers are using the fake MT4 platform to get people to register and to pay the deposit required.
We can’t say that they do use the right platform, or not. They don’t allow people to do research on the site, before registering with them.
No demo account
There is no demo account. This is important to have a demo account, to see what they are all about, and to make sure that they are using the right platform. This is exactly what you can’t do with Fort Trades brokers. They don’t have a demo, and you can’t see if this is the best broker for you to use before you register and pay the deposit.
Many traders think that a demo account is just a waste of money. However, once you have been scammed with a broker, you will realize the importance of making use of a demo account to see if they are legit.
Huge deposit required
This is a serious problem that you can’t ignore. Fort Trades are asking a huge minimum deposit. The first account with the least amount of benefits requires a $5,000 deposit before you can start trading. And, for the pro account, you need to pay $30,000 before you can start trading.
It is ridiculously high. This is the highest minimum deposit that any broker has required before. Making this a huge risk. Why do they need to have this large number before you can trade?
Making profit promises
Do you think that a broker can really promise that you will make a huge amount of profit when you are using them as your broker? How do they know that you are going to be successful with trading? This is a fake promise, just to get the attention of a beginner trader.
You are always looking at what the broker can offer you, and people mistook false promises as one of the benefits of using them Fort Trades can’t promise that you are going to make any money or profit.
With deeper research, we have found that there are many warnings out for Fort Trades brokers. And, these warnings come from regulators and traders.
If a regulator is putting a warning on a broker, you should take this seriously. There will be a good reason why there are warnings out for the broker. And, if the traders are also giving bad feedback, then there is something seriously wrong. And, you should make sure that you start looking for another broker. There are more than one warning out for Fort Trades brokers. The warnings are mostly because they are not regulated and registered at an unfamiliar company.
Fort Trades brokers are forex and CFD brokers. They are situated in Hong Kong. There are a couple of things that you should know about. This information will prove that they aren’t legit and that regulators aren’t recommending this broker to anyone. You should make sure that you know everything there is to know about these brokers. And, remember the reasons why they aren’t recommended. This will make sure that you won’t fall for their schemes and you will not lose money at all.