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FortFS Review 2024

Written By

Tobias Robinson

Written By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

Jan 1, 2023

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Overall Rating

2.5 / 5

FortFS is #107 in our CFD broker rankings.

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Customer Reviews

Minimum Deposit $5

Trading Platforms MT4, MT5

Instruments Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures

Regulators

Account Currencies

Payment Options Skrill, Neteller, WebMoney, Visa, Wire Transfer, FasaPay, Perfect Money, RBK Money

Awards

• Best Forex Broker Asia 2016 - Forex Awards
• Best Mini Account Provider 2016 - Forex Awards
• Best CFD Broker 2015 - Academy of Trading MasterForex-V

Fort Financial Services (FortFS) is an award-winning trading broker. As well as the multiple platforms and customer service, this review covers live and demo account types, plus no deposit welcome bonuses. Find out if you should log in and trade with FortFS.

FortFS Company Overview

Fort Financial Services Ltd was founded in 2010 and operates from St Vincent and the Grenadines. The team has since expanded its services to Asia, with additional offices established in Malaysia and Indonesia. Its clients too can be found worldwide, from the UK to Singapore and South Africa.

FortFS provides trading services in forex, CFDs and futures markets on several trusted platforms, catering to all levels of traders. Its earned a reputation for client focus due to its reliable customer service and no deposit bonus promotions.

Trading Platforms

MetaTrader 4

The MetaTrader 4 (MT4) platform is one of the most popular servers among beginners and experienced traders. Its intuitive interface allows for a powerful and seamless experience, whilst it’s suite of advanced features suit various trading styles.

Features include:

• 3 chart types
• 9 time-frames
• One-click trading
• Multiple order types
• Historical price data
• Market Watch quotes
• 20+ graphical objects
• 30+ built-in technical indicators
• Automated trading through Expert Advisors (EAs)

MetaTrader 5

The multi-functional MetaTrader 5 (MT5) terminal is the successor to MT4 and comes with a range of advanced tools suited to the more advanced trader. The powerful system allows for algorithmic trading and comprehensive price analysis. Other features include:

• 38 built-in technical indicators & 44 graphical objects
• 21 time-frames & 3 chart types
• Open 100 charts simultaneously
• All order types supported
• Expert Advisors (EAs)
• Economic calendar
• Netting & hedging
• One-click trading

CQG

FortFS also offers the CQG market terminals which include the CQG WebTrader, CQG QTrader, CQG Integrated Client, and CQG Mobile. The terminals provide direct market access to over 40 global exchanges. Features include:

• CQG-exclusive TFlow charting and analytics tools
• Trade from the chart with efficient routing tools
• Access to Portfolio and Instrument Monitors
• Export real-time market data to Excel
• All popular order types
• BQuality market data

Whilst the WebTrader and mobile app are free to use, CQG QTrader costs $40 per month plus $0.25 per filled contract and the CQG Integrated Client terminal is $595 per month plus a $0.25 commission.

NinjaTrader

The NinjaTrader platform offers unique and advanced features for the professional trader, including sophisticated market analytics and trade simulation. The platform provides algorithmic and automated trading with over 10 global exchanges and a wide range of tradable contracts.

Traders can also set strategies for managing open positions as well as a comprehensive development module, where you can design and test your own strategy.

NinaTrader is ideal for active and long-term investing and can be downloaded from the broker’s website after account registration.

Markets

There are several markets to trade at Fort Financial Services:

• Forex – Trade over 50 currency pairs including majors. Zero spread pairs are also available
• Shares CFDs – Over 50 shares are available in global companies such as Visa and Twitter
• Indices – Access some of the world’s biggest indices including the FTSE 100 and NASDAQ
• Cryptocurrencies – Trade 13 cryptocurrencies including Bitcoin and Litecoin
• Futures – Trade on bonds, indices, metals, currencies, and energies
• Commodities – Trade on gold, silver, and oil in spot markets

Fees

With the Newbie and Flex accounts, floating spreads are available and start from 0.3 pips. With the Fort account, spreads are fixed from 2 pips, and in the Pro account, floating spreads start from 0.1 pips. Major pairs in the Pro account are the most competitive, at around 0.3 pips for the EUR/USD. In the Flex account, however, you’re looking at around 1.2 pips for the EUR/USD.

There is no commission charged on forex and precious metals, however, there is a fairly complex and variable commission structure for all the other assets. So despite attractive spreads, commissions do bring up the overall cost of trading with Fort Financial Services.

Leverage Review

Despite unlimited leverage claims, there are restrictions depending on account balance and account type. Leverage is available up to a maximum of 1:1000 with the Newbie, Flex and Fort accounts, and up to 1:100 with the Pro account:

• $1 – $1,000 – 1:1000
• $1,000 – $5,000 – 1:500
• $5,000 – $20,000 – 1:200
• $20,000 – $100,000 – 1:100
• $100,000+ – 1:33

Margin requirements and a calculator are available on the FortFS website.

Mobile Apps

FortFS offers both the MetaTrader and CQG mobile apps for convenient trading on the move. Both apps are available for download on iOS and Android (APK) smart devices.

MT4 users can access real-time quotes, full technical analysis, and complete trading history. Push notifications and one-touch trading are also available.

CQG users can easily view market data, access charts, and trade on several global exchanges with the user-friendly app. Mobile users can also access real-time pricing and customise charts with one touch.

FortFS Payment Methods

Deposits

FortFS offers several fast and mostly fee-free deposit methods:

• Qiwi – 0%. Instant
• Skrill – 0%. Instant
• Neteller – 0%. Instant
• FasaPay – 0.5%. Instant
• WebMoney – 2%. Instant
• PerfectMoney – 1%. Instant
• Visa/Mastercard – 0%. Instant
• Local Asian banks (Indonesia, Malaysia, Vietnam, Thailand) – 0%. 2 – 5 working days

Minimum deposits start from $5 (or currency equivalent) with WebMoney, PerfectMoney, Qiwi, Neteller, and Fasapay. All other methods require a deposit of $20 or equivalent.

Withdrawals

Users can withdraw funds using the same methods above and at the same commission rates. E-wallets are instant, card payments take 3 – 7 working days, and local Asian banks take up to 48 hours.

Minimum withdrawal limits are $0.1 (or currency equivalent) for WebMoney, PerfectMoney, Skrill, and Qiwi; $5 for FasaPay and Neteller; $20 for card payments, and $15 for local Asian banks.

Customer reviews are typically impressed with the low withdrawal limits and prompt payment times.

Demo Account Review

Demo accounts are available in the MetaTrader and NinjaTrader platforms and are a great way of practicing trading techniques in simulated market conditions before using real money. Users are free to choose any virtual amount that they wish to trade with. There is no expiry with MetaTrader demo accounts, however, NinjaTrader demo accounts will expire after 2 weeks.

Bonuses & Promo Codes

Bonuses and promotions is where FortFS scores the highest in this review.

A $100 no deposit bonus deal is available after 75 lots have been traded within 2 weeks, as well as a 200% deposit bonus. Previous offers have included a 10% cashback deal and bonuses for each 10th traded lot up to $500. If you miss out on these, there is no shortage of other deals at Fort Financial Services, including:

• Classic $35 welcome bonus – deposit-free and awarded within 10 calendar days after 20 lots traded. Selected accounts only.
• Deposit bonus – choose between a 10% to 50% bonus amount, awarded once trading requirements are met within the 3-month time period.
• MegaProtect Bonus – protects funds during drawdowns up to 100% of the deposit, with no expiration period.
• AutoRebate – awards up to 30% per lot for Fort and Flex accounts.

FortFS also offers several contests, such as $90 every week for the best trading signal and $30 for the best fundamental analysis each week.

You can claim bonuses from the member login area. Always check bonus terms and conditions before trading.

Regulation

Although FortFS is a legitimate ECN broker, it is not properly regulated, dividing opinions. The broker is registered offshore in Saint Vincent and the Grenadines.

As far as non-regulated brokers go, FortFS does well to ensure transparency with its pricing as well as maintaining a decent reputation for customer focus. Still, we always recommend caution when opening an account with an unlicensed provider due to scam concerns.

Additional Features

There are several other features on offer at FortFS, including forex analytics and signals, calendars of news events and holidays, plus an education centre for beginners.

The education centre contains 7 parts with extensive reading on technical analysis, futures markets, and more. Clients can also subscribe to the CopyTrading service as well as follow the latest market signals.

In addition, there is the Short Term Assets Revenue (STAR) service, a trust management system where individuals can invest funds with their chosen investment manager. Full terms can be found on the STAR page.

Account Types

There are four FortFS-live accounts to choose from:

• Newbie (Cent) – Floating spreads. Market execution
• Flex – Floating spreads. Market execution
• Pro – Floating spreads. Market execution
• Fort – Fixed spreads. Instant execution

The minimum deposit for the Newbie, Fort, and Flex is $5 whilst for the Pro account, the minimum deposit is $500. With the first three accounts, commission is charged from $10 on CFDs and the minimum order size is 0.01 lots.

For the Fort and Flex accounts, dividends are paid at 5% (and 3% for cent accounts). Deposit bonuses can also be earned between 10% and 50%.

Swap free trading conditions can also be applied to accounts for Islamic traders.

Benefits

There are several advantages of trading with FortFS:

• MT4 & MT5, CQG Trader and NinjaTrader platforms
• No deposit bonuses & promotions
• Copy trade & PAMM options
• $5 minimum deposit
• VPS available

Drawbacks

Disadvantages of creating an account with FortFS include:

• Unregulated
• Complex commission structure

Trading Hours

Trading is available around the clock from 00:00 GMT +2 on Monday to 23:00 GMT +2 on Friday. Specific opening hours will follow respective market operating times.

Customer Support

FortFS can be reached Monday – Friday between 05:00 and 23:00 (GMT +3) via:

• Live chat – located at the top of the page
• Online contact form – Contact us page
• Telephone – +371 67 66 0716
• Email – support@fortfs.com

The support team are able to help with most problems. They can also provide account information and instructions on to delete your account.

Fort Financial Services Ltd is headquartered at Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown, St Vincent and the Grenadines.

Client Security

The MetaTrader and CQG platforms use industry-standard security protocols to protect data exchanges between real servers, including Secure Sockets Layer (SSL) encryption. There is also the option to enable dual-factor authentication at the account login stage.

FortFS Verdict

FortFS delivers a competitive service for traders at all levels, with four account types, including a demo account, plus low minimum deposit requirements. The no deposit bonuses and welcome deals are particularly attractive. The only major drawback is the lack of trustworthy regulatory oversight.

Top 3 Alternatives to FortFS

Compare FortFS with the top 3 similar brokers that accept traders from your location.

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
   Go to IG
2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex
3. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers

FortFS Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by FortFS and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

FortFS vs Other Brokers

Compare FortFS with any other broker by selecting the other broker below.

FAQ

Does FortFS offer a demo account?

Yes, you can open demo accounts in the MetaTrader or NinjaTrader platforms once you have registered on the website.

How do I open a Fort Financial Services account?

You can open an account in minutes by clicking the Registration button at the top of the website. This will take you to a simple form asking for your details and email verification.

What payment methods are available at FortFS?

You can deposit and withdraw funds using card payments (Visa/Mastercard), PerfectMoney, WebMoney, Skrill, Neteller, Qiwi, FasaPay, or local Asian banks.

How much capital do I need to start trading at FortFS?

You can trade with as little as a $5 minimum initial deposit. Nearly all deposits are processed instantly.

Is FortFS regulated?

Fort Financial Services Ltd is not currently regulated. This is a red flag and we don’t recommend that our readers open trading accounts with unlicensed providers.

Is FortFS a legitimate broker?

FortFS is an established online trading broker. Yet despite a decade of experience, the lack of regulatory oversight may deter some traders.

Is FortFS a good broker?

If you’re looking for a range of trading platforms and tools, as well as attractive no deposit bonuses and welcome deals, then FortFS may well tick the box.

How do I delete my FortFS account?

To delete your FortFS account, contact the customer support team using the details in this review. The live chat team are particularly responsive and helpful.