FortisFX review

Finding a Forex broker you can rely on and trust with your investment isn’t the easiest of tasks. There are hundreds of brokers to choose from, some of which are regulated and some which are not. We always advise potential traders to try and pick a broker that’s regulated in their own country, but appreciate it’s not always possible, and at the end of the day it’s an individual decision. Which is why we don’t just focus on regulated brokers, but also feature unregulated brokers in our reviews. This review is about FortisFX, an online broker that is owned and operated by Fortis Market Corp, a company that is registered in the Republic of the Seychelles.
It is, in fact, an unregulated broker, but let’s take a look at the service it’s offering.

Bonus	No
Regulation	No
Mobile	Yes
Instruments	Forex, Metals, Indices
Website	www.fortisfx.com
Other Brokers

What are the benefits of choosing FortisFX as your broker?

• Uses the popular trading platform MetaTrader 4
• IFSC regulation (although we were unable to find any reference to either FortisFX or Fortis Market Corp when searching the IFSC website)
• Segregated bank accounts
• Active trading conditions
• Beneficial partnership programs
• Useful information for trading
• Fresh market news
• Popular funding methods
• Free practice accounts with no time limits

These features are taken from the FortisFX website, so let’s take a look at some of the things that are offered and see if we can shed some light on these benefits.

Different types of account available at FortisFX

There are four different types of account available for anyone thinking about signing up at FortisFX. Unfortunately, the website doesn’t give us the details for minimum deposits, but it does list some of the other features of each account. They are:
Mini Classic Cent Account

• Leverage 1:10 – 1:1000
• Spreads from 3 pips
• Minimum order size 0.10
• Maximum order size 100

Mini Classic Account

• Leverage 1:10 – 1:1000
• Spreads from 3 pips
• Minimum order size 0.01
• Maximum order size 100

Mini Classic 5 Fixed Account

• Leverage 1:10 – 1:1000
• Spreads from 3 pips
• Minimum order size 0.01
• Maximum order size 100

Pro-STP Account

• Leverage 1:10 – 1:300
• Spreads from 0.1 pips
• Minimum order size 0.01
• Maximum order size 100

There are a number of features that are common to all accounts. The account currency is USD. There are 41 currency pairs, 2 metals and 11 indices for trading. No commission is charged for currency and metal trades. Market execution is the execution method used. Swap free accounts are available and there are also practice account options for all four different types of account. Scalping, hedging and autotrading are acceptable styles of trading.
We’ve already mentioned the availability of a practice account and at FortisFX there is no time limit. Many Forex brokers choose to impose a time limit on such types of account. For example 7 days or one month. But at FortisFX you can practice trading until you feel ready to open a real money account.
When it comes to making payments, there are a number of different methods accepted. They include Visa and MasterCard, Neteller, Skrill, WebMoney and FasaPay. No commission is charged for making deposits and the money will be in your trading account within a few hours. Withdrawals will take a little longer and some of the methods will incur additional charges.

FortisFX brings MetaTrader 4 to the table for making trades

Preferred by a large majority of traders around the world, MetaTrader 4 was developed by MetaQuotes Software and has become the industry standard for trading platforms. It has everything the modern trader needs all in one easy to use package. It allows traders to monitor, trade and analyze with little need for anything else and can be used on a range of different devices. The software can be downloaded or used directly from a web browser and is very mobile-friendly. The benefits of MT4 include:

• Can be used for trading a wide range of instruments
• Has multi timeframes
• Allows for the printing of charts
• One click trading
• Can analyze and trade from charts and graphs
• Supports automated trading and expert advisors
• Includes a range of different indicators for technical analysis, advisors and scripts
• Real-time financial news

We would have liked to see maybe one or more alternatives with regards a trading platform, but MetaTrader 4 does suit the needs of most traders adequately.

FortisFX customer support and education

There is very little in the way of educational material provided by FortisFX. There is an education tab, but when you click on it all you get in a brief explanation of what a currency is. Which is something we would hope that any prospective trader would already know. FortisFX does provide a little in the way of analytical tools as is an economic calendar, list of various interest rates around the world, along with financial news. But we feel that this company is sadly lacking in the client resources department.
If you need to get in touch because you have a question or a problem there is a client support tab with a number of different options. There’s live chat, Skype, email and a UK telephone number, that’s operational from 7.00 to 20.00, Monday to Friday.
There’s something about FortisFX that just doesn’t sit right. It’s an unregulated broker which is a big tick in the negative box, and it’s also a little lacking in specific information. For example, why would there be no mention of the minimum deposits for opening an account? We also found some of the company information a little confusing. It says it’s regulated by the IFSC in Belize but we could find no reference to such a company. The contact address is in Selangor, Malaysia. But the company is registered in the Republic of the Seychelles.