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Do you want to know which is the better broker between Fortrade and BlackBull ?
In the table below, you can compare the features of Fortrade , BlackBull side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fortrade, blackbull-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Fortrade Review Summary in 10 Points | |
Founded | 2013 |
Registered Country/Region | Belarus |
Regulation | ASIC, FCA, CYSEC, IIROC, NBRB |
Market Instruments | Currencies, Stocks, Indices, Precious Metals, Energy Products, Agriculture Products, US Treasury Bonds |
Demo Account | Available |
Leverage | 1:200 |
EUR/USD Spread | 2 pips |
Trading Platforms | MT4 |
Minimum deposit | $100 (with a suggestion of $500 or currency equivalent) |
Customer Support | Phone, email |
Fortrade is an online forex market trading service provider founded in 2013 and currently holds a full license from the Australian Securities and Investments Commission (ASIC), a full license from the UK Financial Conduct Authority (FCA), a full license from the Cyprus Securities and Exchange Commission (CYSEC), a full license from the Investment Industry Regulatory Organization of Canada (IIROC), and a retail forex license from the National Bank of Belarus (NBRB).
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Fortrade is a regulated broker that offers a wide range of assets for trading, including forex, indices, commodities, and securities. The broker provides a free demo account with no time restrictions, making it an excellent tool for beginners to practice trading. Fortrade has a powerful MT4 trading platform available on desktop, web, and mobile devices, providing traders with flexibility and convenience.
In terms of fees, Fortrade charges no trading commissions and offers competitive spreads, although overnight rollover fees and inactivity fees may apply. Customer support is available via email and telephone, but the lack of live chat support may be a drawback for some traders. Overall, Fortrade is a solid choice for traders looking for a regulated broker with a user-friendly trading platform and a variety of underlying assets for trading.
Pros | Cons |
• Regulated by multiple authorities | • Negative reviews regarding withdrawals |
• Wide range of assets for trading | • Limited live account types |
• Free demo account with no time restrictions | • Inactivity fee after 6 months |
• Powerful MT4 trading platform with mobile, web, and desktop options | • Limited educational resources |
• No trading commissions | • Limited payment options |
There are many alternative brokers to Fortrade depending on the specific needs and preferences of the trader. Some popular options include:
Hugo's Way - A relatively new broker with competitive spreads, high leverage, and a limited range of trading instruments.
ICM Capital - A well-regulated broker offering a diverse range of trading instruments, advanced trading platforms, and excellent customer support.
IFC Markets - An innovative broker with a unique approach to trading, offering a wide range of financial instruments, low minimum deposits, and advanced trading tools.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Regulation by multiple reputable authorities such as ASIC, FCA, CYSEC, IIROC, and NBRB can provide some level of assurance of safety and reliability for traders. However, negative reviews of Fortrade regarding withdrawal issues are concerning, and It is always recommended to carefully read the terms and conditions, including withdrawal policies, before trading with any broker.
Fortrade provides investors with a range selection of tradable financial instruments, including more than 300 foreign currency, stock index, securities, oil, and precious metals CFD products. This wide range of financial instruments allows traders to have more options to diversify their portfolios and potentially increase their profits.
Demo account: A free demo account is available to Fortrade customers. Users can practice their trading strategy with a €10,000 virtual investment, available on either the Fortrader or MetaTrader 4 platforms. Fortrade's demo account seems to be a useful tool for traders to practice their strategies without any pressure, and the lack of time restrictions makes it more convenient for beginners.
Live account: Fortrade only offers a single live account type, where the specific trading conditions vary depending on assets and trading size. The minimum deposit is reasonable at $100, with a suggestion of $500 or currency equivalent.
Fortrade offers a specialized Swap Free Islamic Account for clients adhering to the Muslim faith, allowing them to engage in forex & CFD trading without incurring rollover interests on overnight positions, which is in compliance with Islamic finance principles that prohibit the payment and receipt of interest.
How to Open a Swap Free Islamic Account:
Account Setup: Open a Fortrade account using desktop, mobile, or tablet.
Complete Registration: Finish the registration process and submit necessary ID documents for verification.
Request Activation: Email support@fortrade.com to request activation of the Swap Free Islamic Account.
Leverage is up to 1:200 for forex products, 1:20, 1:25, 1:50 for stock indices, 1:10 for EU securities, 1:50 for CFDs on agricultural commodities, 1:100 for gold and silver, 1:33 for corn, cotton, and soybeans. It is important to keep in mind that leverage can magnify profits, but it can also lead to greater losses, so traders should use leverage wisely and carefully manage their risk.
It seems that Fortrade charges mark-ups on spreads instead of trading commissions, which could be beneficial for traders who want to avoid commission fees. However, it is important to note that the mark-up on spreads may fluctuate, and traders should take this into consideration when planning their trades.
The average spread for EURUSD is 2 pips, and the average spread for USDGBP is 3 pips. Indices spread: Canada 60 average spread is 1 pip, US 2000 average spread is 0.6, US 500 average spread is 0.6. The gold average spread is $0.45, and the silver average spread is $0.04.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
Fortrade | 2 pips | None |
Hugo's Way | 0.0 pips | $5 per lot |
ICM Capital | 1.6 pips | None |
IFC Markets | 0.4 pips | None |
Fortrade offers its users a market-leading and powerful MT4 trading platform, including the mobile MT4, web MT4, and desktop MT4. The platform is renowned for its advanced charting tools, technical analysis indicators, and automated trading capabilities, making it suitable for traders of all levels.
The desktop version of MT4 provides traders with access to real-time pricing and trading, advanced charting and analysis tools, and the ability to place orders quickly and easily. The web version of MT4 is accessible from any web browser and offers traders the flexibility to trade from any location, while the mobile version of MT4 enables traders to manage their accounts and access the markets from their smartphones and tablets.
See the trading platform comparison table below:
Broker | Trading Platforms |
Fortrade | MT4, WebTrader |
Hugo's Way | MT4, MT5 |
ICM Capital | MT4, cTrader |
IFC Markets | MT4, MT5, NetTradeX |
Deposits and withdrawals can be made via credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller. The recommended initial deposit requirement is $/€/£500, however, it is possible to deposit as little as $100 or equivalent currency to get started.
Fortrade | Most other | |
Minimum Deposit | $100 | $100 |
The broker does not charge any deposit fees, while any bank withdrawal fees incurred by Fortrade are passed on to the customer, which is usually around $40.
Processing times will vary by method. Deposits via bank wire transfers can take up to 7 working days for funds to clear. E-wallets offer faster clearance, often within 1 day. All withdrawal requests are processed by Fortrade within 2 business days of being submitted. However, fund clearance can take up to 5 business days for bank transfers and up to 15 business days for credit/debit cards.
Apart from spreads, commissions, deposit and withdrawal fees that we have mentioned above, Fortrade also charges an overnight rollover fee and inactivity fee of $/€/£10 on accounts left dormant for 6 months.
Overnight rollover fees are a common practice in the forex and CFD industry, as positions left open overnight incur a cost for the broker. As for the inactivity fee, it is also a common practice among brokers to charge a fee on dormant accounts to cover administrative and maintenance costs.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
Fortrade | None | $40 | $/€/£10 after 6 months of inactivity |
Hugo's Way | None | Free withdrawal up to $150 | None |
ICM Capital | None | None | None |
IFC Markets | varies by payment method | None | None |
Fortrade is highly accommodating for novice traders, offering a comprehensive Online Academy that includes webinars, Beginner's Trading Courses, Trading Videos, Forex & CFD eBooks, and more. Additionally, Fortrade provides a suite of trading tools such as a Currency Converter Tool, Pip Value Calculator, Swap Rates Calculator, and Margin Percentage Calculator.
With its rich array of educational resources and tools, Fortrade is suitable for both beginners and seasoned traders alike, making it an excellent choice for anyone looking to enhance their trading skills and knowledge.
Clients with any inquiries or trading-related issues can get in touch with Fortrade through the email and telephone. Here are some contact details:
Telephone: +375-17-2240625
Email: support.by@fortrade.by
FAQ section is also available.
Pros | Cons |
• Email and phone support | • No live chat support |
• Comprehensive FAQ section available | • No 24/7 customer support |
On our website, you can see that some users have reported unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
All things considered, Fortrade is a reputable broker with multiple regulatory licenses, offering a wide range of assets for trading and a powerful MT4 platform. The broker charges no commissions and has competitive spreads, making it an attractive option for traders. However, there have been some negative user reviews concerning withdrawal issues and the overnight rollover fee. Additionally, the lack of alternative trading platforms and the inactivity fee may be a drawback for some traders who prefer more flexibility. Overall, Fortrade is a good option for traders looking for a reliable and regulated broker with a comprehensive trading platform and competitive trading conditions.
Q 1: | Is Fortrade legitmate? |
A 1: | Yes. Fortrade is legimate. It is regulated by multiple regulatory authorities including ASIC, FCA, CYSEC, IIROC, NBRB. |
Q 2: | At Fortrade, are there any regional restrictions for traders? |
A 2: | Yes. It does not accept clients from the USA. |
Q 3: | Does Fortrade offer demo accounts? |
A 3: | Yes. |
Q 4: | How does Fortrade make money? |
A 4: | Fortrade makes money from spreads, commissions, and swap rates on leveraged overnight positions. |
Q 5: | What is the maximum leverage offered by Fortrade? |
A 5: | Fortrade offers leverage of of up to 1:200. |
Q 6: | Does Fortrade offer the industry-standard MT4 & MT5? |
A 6: | Yes. Fortrade supports MT4 Desktop, WebTrader and Mobile APP. |
Q 7: | What is the minimum deposit for Fortrade? |
A 7: | The minimum initial deposit to open an account is $100 (with a suggestion of $500 or currency equivalent). |
Q 8: | Is Fortrade a good broker for beginners? |
A 8: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
BlackBull Review Summary in 10 Points | |
Founded | 2014 |
Registered Country/Region | Auckland, New Zealand |
Regulation | FMA |
Market Instruments | forex, energy, indices, cryptocurrencies, equities and metals |
Demo Account | Available |
Leverage | 1:500 |
EUR/USD Spread | From 0.0 pips |
Trading Platforms | TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares |
Minimum deposit | $0 |
Customer Support | 24/7 live chat, phone, email |
BlackBull is an STP (Straight Through Processing) forex broker that provides online trading services to retail and institutional clients. The company was founded in 2014 and is headquartered in Auckland, New Zealand. BlackBull is regulated by the Financial Markets Authority (FMA) of New Zealand and offers over 26,000 tradable instruments including forex, energy, indices, cryptocurrencies, equities, and metals. The broker provides clients with multiple trading platforms such as MetaTrader 4/5 and various trading tools. The company also provides educational resources to assist traders in their trading journey.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
BlackBull appears to be a reliable and well-regulated broker that offers a wide range of trading instruments, platforms, and educational resources. The broker's emphasis on security and transparency, such as offering segregated accounts and holding funds in Tier 1 New Zealand banks, is also a positive aspect.
However, there have been some negative reviews regarding difficulties in withdrawing funds and claims of the broker being a scam, which is a cause for concern.
Pros | Cons |
• Regulated by FMA | • Negative reviews from clients regarding withdrawal issues |
• Wide range of tradable instruments | • Limited range of payment options |
• Demo accounts available | |
• Multiple trading platforms and tools | |
• No minimum deposit requirement | |
• Rich educational resources |
It's important to note that this is just a general overview of the pros and cons, and individual experiences may vary.
There are many alternative brokers to BlackBull depending on the specific needs and preferences of the trader. Some popular options include:
UFX - provides a user-friendly trading platform and a wide range of educational materials, but there are some concerns about its regulation and customer service.
Valutrades - offers competitive spreads and multiple account types, but its product offerings are limited and its customer service could be improved.
Z.com Trade - offers low spreads and no deposit or withdrawal fees, but its product offerings are limited and it is only regulated in one jurisdiction.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
It's difficult to make a definitive determination on whether BlackBull is safe or a scam as there is no clear consensus on the matter. While the broker is regulated by the Financial Markets Authority and claims to hold client funds in safe, Tier 1 New Zealand-based banks with segregated accounts, the negative reviews from some clients who report issues with withdrawing their funds raise concerns. It's important for individuals to conduct their own research, carefully evaluate the broker's features and services, and exercise caution when investing their money.
BlackBull offers a diverse range of 26,000+ financial instruments across various asset classes, including forex, energy, indices, cryptocurrencies, equities, and metals. Traders have access to a wide range of currency pairs, including majors, minors, and exotics, and can also trade popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, the broker provides access to a variety of equity CFDs, including those from major markets like the US, Europe, and Asia. Traders can also trade popular indices like major US and the NASDAQ, as well as energy products like crude oil and natural gas. Lastly, BlackBull provides access to precious metals like gold and silver, which are often used as safe-haven assets during times of market volatility. Therefore, both beginners and experienced traders can find what they want to trade on BlackBull.
Demo Account: BlackBull provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: BlackBull offers a total of 3 account types: ECN Standard, ECN Prime and ECN Institutional. The minimum deposit to open an account is $0, $2,000 and $20,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, the ECN Standard account will be the most suitable option for you.
BlackBull offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
BlackBull spreads and commissions depend on the account type. We can see that the spread starts from 0.8 pips on the ECN Standard account, from 0.1 pips on the ECN Prime account, while only the ECN Institutional account can enjoy raw spreads from 0.0 pips.
There is no commission for the ECN Standard account, a commission of 6 USD per lot for the ECN Prime account and 4 USD per lot for the ECN Institutional account.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
BlackBull | 0.8 pips | No commission (Standard) |
UFX | 2.0 pips | No commission |
Valutrades | 0.5 pips | $7 per lot round turn (ECN Pro) |
Z.com Trade | 0.5 pips | No commission (Standard) |
Note: Spreads can vary depending on market conditions and volatility.
As for the trading platform, BlackBull provides its clients with many options. There are public platforms including TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), BlackBull Trader, and BlackBull Shares.
TradingView is a popular charting and social trading platform that allows traders to connect with other traders, access a wide range of charting tools, and share trading ideas. MT4 and MT5 are well-known platforms in the forex industry, offering advanced charting capabilities, customizable indicators, and algorithmic trading options. BlackBull Trader is a proprietary platform developed by BlackBull that offers advanced charting and trading tools, while BlackBull Shares is a social trading platform that allows clients to automatically copy the trades of experienced traders.
Overall, BlackBull's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platforms |
BlackBull | TradingView, MT4, MT5, BlackBull Trader, BlackBull Shares |
UFX | ParagonEx, MT4, UFX Trader |
Valutrades | MT4, MT5, FIX API Trading, ValuMax |
Z.com Trade | MT4, MT5, Z.com Trader, Z.com Web Trader |
BlackBull offers Virtual Private Server (VPS) trading to its clients, which is a useful tool for traders who use automated trading strategies or expert advisors. The broker also provides access to other trading tools such as FIX API Trading, which allows traders to connect their own custom software to the BlackBull liquidity pool, as well as Autochartist, which provides market analysis and trading signals. ZuluTrade and MyFxbook are also available for those who want to follow and copy trades of other successful traders. Overall, BlackBull offers a range of trading tools to assist traders in their trading activities.
BlackBull offers its clients multiple options for depositing and withdrawing funds, including bank wire, POLi, and credit/debit card (Visa/MasterCard). The base currencies are USD and NZD.
No minimum deposit requirement. No fees for deposits and withdrawals. Most deposits are processed instantly, while withdrawals are typically processed within 24 hours.
BlackBull | Most other | |
Minimum Deposit | $0 | $100 |
See the deposit & withdrawal fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee |
BlackBull | None | None |
UFX | None | $50-$100 |
Valutrades | None | None |
Z.com Trade | None | None |
Note: The above information is subject to change and may vary based on the payment method used. It's always recommended to check with the broker for the most up-to-date and accurate fee information.
To withdraw funds from your account, visit the “My Wallet” tab found on the left-hand side of the portal.
Find the ‘WITHDRAW FUNDS’ tab along the top of this portal page. Within this tab, you will be presented with a 4-step process to request a withdrawal.
Step 1: Select the method by which you want to make a withdrawal. Only methods that you are approved to use will show up as an option to select.
Step 2: Select the wallet from which you want to make a withdrawal. Please note: Each withdrawal request is restricted to one wallet.
Step 3: Specify the amount you want to withdraw.
Step 4: Finally, confirm your request within the Secure Client Area, and the status of your request will change to pending.
Below are the details about the customer service.
Languages: English, Spanish, French, Chinese, German, Portuguese, Italian, Thai language, Korean, Arabic, Vietnamese, etc.
Service Hour: 24/7
Live chat
Email: support@blackbull.com
Phone: +64 9 558 5142
Address: BlackBull Markets, Level 20, 188 Quay Street, Auckland, 1010
Social media: Facebook, Instagram, LinkedIn, YouTube, Twitter, WhatsApp and Telegram
Overall, BlackBull's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Pros | Cons |
• 24/7 live chat support | • No option for call back requests |
• Multilingual support | |
• Social media presence for easy communication | |
• Quick response time to customer inquiries |
Note: The information is based on online research and may be subject to change.
A series of educational resources is available at BlackBull, such as webinars, market analysis, and trading videos that cover various topics related to trading.
The educational materials are categorized based on the clients level of experience, with Forex Beginner, Forex Intermediate, and Forex Advanced categories. The educational articles cover a wide range of topics, from the basics of trading to advanced strategies and technical analysis. These resources are designed to help traders develop a better understanding of the markets and improve their trading skills, which can ultimately lead to more successful trades.
On our website, you can see that some users have reported unable to withdraw and scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Based on the information provided, BlackBull appears to be a well-regulated broker that offers a wide range of tradable instruments across multiple asset classes, as well as a variety of trading platforms and tools. The broker's educational resources and customer service are also noteworthy.
However, there are some negative reviews from clients regarding difficulty with withdrawals and accusations of being a scam platform, so traders should proceed with caution and do their own research before investing with BlackBull.
Q 1: | Is BlackBull regulated? |
A 1: | Yes. It is regulated by Financial Markets Authority(FMA) in New Zealand. |
Q 2: | Does BlackBull offer demo accounts? |
A 2: | Yes. |
Q 3: | How much leverage does this broker offer? |
A 3: | The maximum leverage of BlackBull is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information. |
Q 4: | Does this broker offer copy trading or social trading? |
A 4: | Yes. BlackBull offers both of them. |
Q 5: | Does BlackBull offer the industry-standard MT4 & MT5? |
A 5: | Yes. It supports TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares. |
Q 6: | What is the minimum deposit for BlackBull? |
A 6: | There is no minimum initial deposit requirement. |
Q 7: | Is BlackBull a good broker for beginners? |
A 7: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fortrade and blackbull-markets are, we first considered common fees for standard accounts. On fortrade, the average spread for the EUR/USD currency pair is -- pips, while on blackbull-markets the spread is EURUSD average is 0.2; Gold average is 0.2.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fortrade is regulated by ASIC,FCA,CYSEC,CIRO,NBRB. blackbull-markets is regulated by FMA,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fortrade provides trading platform including -- and trading variety including --. blackbull-markets provides trading platform including ECN STANDARD,ECN PRIME,ECN INSTITUTIONAL and trading variety including --.