General Information & Regulation
ForTradersFX is owned and operated by a Marshall Islands-based company - ForTradersFXLtd, founded in 2019. ForTradersFX Ltd is not subject to any regulation. Traders are not advised to trade with unregulated broker, as they cannot guarantee fund safety.
Market Instruments
ForTradersFX claims to offer investors a range of investment instruments, including currency pairs, indices, commodities, stocks, and oil.
Minimum Deposit
ForTradersFX offers investors four different trading accounts: Mini, Bronze, Silver, and Gold. The minimum deposit to open a mini account, or a basic account is $250.
ForTradersFX Leverage
Trading leverage varies depending on different trading accounts. The Mini and Bronze accounts offer the leverage of 1:100, while traders who hold the Silver and Gold accounts can trade with the high leverage level, up to 1:200.
Trading Platforms
ForTradersFX claims to offer an MT4 trading platform, but it turns out that ForTradersFX's so-called MT4 trading platform is neither available nor downloadable. ForTradersFX offers its traders the Sirix trading platform.
Deposit & Withdrawal
ForTradersFX supports deposits by phone, credit card, debit card, and wire transfer. ForTradersFX claims to process withdrawals within 10 days, which is quite unusual compared to other legit brokers who process withdrawals quickly. Additionally, ForTradersFX charges a fee for withdrawals, which turns out to be such a scam.
ForTradersFX Pros & Cons
ForTradersFX advantages Include:
1. A greater variety of trading assets
2. Four trading accounts available
ForTradersFX Disadvantages Include:
1. No regulation & blacklisted by CONSOB
2. MT4 trading platform not provided
3. Spreads & commission information not provided
4. High withdrawal fees
5. The minimum deposit amount for bronze, silver & gold accounts not known
6. No demo accounts offered
