Fort Financial Services Review
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Established in 2010, Fort Financial Services aims to provide traders with a high-quality financial trading platform which can compete with any on the market. The site is registered in Belize and offers forex trading on popular currency pairs as well as cryptocurrencies.
This company has picked up numerous awards over the years, including Best Crypto Broker (2018) and Best Forex Broker (2019) from the respected FX Daily Info site. Fort FS has grown its client base since its 2010 launch and now counts traders from all over the world in its list of customers. In this article we are going to take a closer look at whether Fort Financial Services offers a genuinely worthwhile trading alternative.
Facts & Figures
- Name: Fort Financial Service
- Year Founded: 2010
- HQ: Belize
- CEO: Evgeny Filichkin
- Commission: Pro/Fort – No; Flex – 0.07% per contract
- Deposit options: Bank wire Credit cards Fasapay Qiwi Neteller Perfect Money Skrill WebMoney
How To Trade
Creating a free account with FortFS can be done in a couple of minutes. First enter personal data such as name, address and date of birth and complete the verification process to confirm your identity. The latter normally takes between 2 and 8 hours on a working day. Now it is simply a case of downloading the trading platform to the customer’s desktop computer and they can start trading.
Traders can deposit using one of the available payment methods, although it should be noted that the same method must be used for both deposits and withdrawals. Now investors can log in at any time to trade on forex markets for FIAT and cryptocurrencies as well as commodities markets. FortFS offers margins to clients from 1:10 all the way up to 1:1,000. There are four different account types available, dependent on the requirements and experience of the customer. These four account types are Newbie, Fort, Flex and Pro for the most experienced traders.
Fort Financial Services are certainly generous when it comes to promotions and bonuses. This begins with a welcome bonus of $35 USD without any deposit being required. This no deposit bonus can only be withdrawn once a trading turnover of 20 lots has been completed and is a nice welcome to this site.
For every deposit made to the site, FortFS offer a bonus of between 10-50% according to the wishes of the depositer. The number of lots required to withdraw the bonus is the bonus amount divided by four. The Support Margin bonus is on offer for all deposits of at least $25 USD (or equivalent in other currencies) and is between 5% and 15% depending on the size of the deposit.
Go to the Learning section of the Fort Financial Services site to find their guide on how trading works on the site. The seven-part guide takes readers from an introduction to the site, through to information on the trading terminal and technical analysis.
Further instalments in the series cover areas such as fundamental analysis, the psyche of a trader, trading advisors and trading with futures. The site also features a feed of the latest Forex news which can affect the markets. Visit the Analytics section of the site for further educational resources, including articles on the technical and fundamental aspects of forex trading, as well as weekly and monthly reviews.
There are four different trading platforms available to be used with Fort FS, according to the volume and type of trading that the customer intends to take part in. MetaTrader 4 (MT4) is seen as the Gold Standard when it comes to forex trading, with its simple and intuitive interface which can be customized to suit individual needs. MT5 offers similar services and also allows for trading with cryptocurrencies, which may be a requirement of some traders.
Larger traders of futures and options may prefer to go with CQG Trader, which requires a minimum deposit of $15,000 and so will not be for everybody. The final option is NinjaTrader which allows futures traders to develop trading systems and use simulations to model future trends. Smaller value traders will want to go for one of the MetaTrader options, but for large investors perhaps NinjaTrader or CQG Trader will be more appropriate.
There has been an explosion of interest in cryptocurrency markets in the last few years, with traders trying to take advantage of what can be large swings in values between crypto pairs. There are 8 major cryptocurrencies available to trade with at Fort Financial Services: Bitcoin, Bitcoincash, Litecoin, Ethereum, Ripple, Zcash, Monero and Dashcoin.
Trading on these currencies is available 24 hours a day from Monday to Friday, with the minimum lot starting at 0.01 and leverage of 1:3. Commission of 1.5% is deducted from the nominal value of a contract. Over a quarter of traders only work with cryptocurrencies, and with higher than average returns on investment it’s not hard to see why.
The licence is the first thing to look for when investigating any online trading site, and FortFS is licenced by the International Financial Services Commission of Belize. Unfortunately, this is not regarded as being a particularly strong licence and so does not offer a great deal of protection to players. FortFS carries out a diligent KYC (Know Your Customer) process to confirm the identity of all customers. This is to ensure that users of the site are over-age, to prevent money laundering and to ensure that any money sent to customers goes to the correct person.
Depending on the type of payment method selected, commission may or may not be charged. Perfect Money charges 1% commission on deposits, while Fasapay charges 0.5% – all other methods are free. The same fees are charged for withdrawals, and there is also a 2.5% commission on withdrawals to Visa or Mastercard.
Commission charged on trades depends on which of the four account types (see above) is selected. There is no commission on forex trades when using a Newbie, Fort or Flex account, although there is commission on CFDs from $10. A commission of $9 is imposed if using the Pro account.
The FortFS Customer Support team is available via webmail, email, phone or on live chat. The live chat support is available between the hours of 5am and 11pm (GMT +3) Monday to Friday. The Finance Team is available from 10am to 8pm, also Monday to Friday.
The support team is well trained and happy to assist with any queries which customers may be experiencing. Fourteen languages are available on the site, mainly European and Asian. There is also an FAQ section which deals with some of the more common issues encountered by traders.
Fort Financial Services may not have reinvented the wheel, but they provide a fully comprehensive platform for forex traders. This site is tailored to suit all needs, whether you are new to the world of online forex and commodities trading or are a veteran with many years of experience. FortFS provides a clean and efficient trading platform no matter the level of the user and caters for large as well as small volume traders. This site is recommended as a very strong option for forex trading. econd to none right now. Sign up for free to find out why so many people rank Binance as the best in the business.
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
- Good range of products
- Variety of different platforms
- Many promotions and bonus offers
- Licence is not strong
7 Binary Options review: Fort Financial Services: 4 stars