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Fortrade

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.fortrader.com/

Website

Rating Index

Contact

info@fortrade.com
https://www.fortrader.com/
Michelin House, 81 Fulham Road, London. SW3 6RD.

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Fortrade Ltd.

Company Abbreviation

Fortrade

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-04-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

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Fortrade · Company Summary

General Information

It has been verified that Fortrade Ltd. is a suspicious clone. The licensed company it impersonates is Fortrade Limited, a forex broker registered in the United Kingdom.

What is Fortrade?

Fortrade Limited is established in the UK in 2014 as a trading provider with products and services for online foreign exchange and CFD trading. Further on, throughout its development, Fortrade opened its branches in Australian and Belarus, while recently enlarged even further and established branches in Cyprus and Canada.

Official Website (Clone)

After reviewing the official website of Fortrade Ltd., we found that the entire site shows very little content, mostly empty words without reference value. Among them, the company claims to offers its clients the opportunity to invest in dozens of the most traded commodities futures – from wheat, to gold, to oil, and dozens more of the most trade commodities.

What are clone brokers?

As it turns out, clone brokers are on the rise these days, with fraudulent companies setting up shop by using names of reputable companies to trick clients into thinking that theyre trading with a regulated Forex firm. They even use the license number of regulated brokers to fool traders into opening accounts with them! And identity theft is a typical fraudulent method for “cloned companies”: the fraudster uses information about an actual authorized company, such as company registration number (CRN), address, email, etc., to gain credibility and even legitimacy in order to convince and solicit investors.

Risk Warning

We have also found a number of victims online who have exposed Fortrade Ltd. scams, mainly covering the inability to withdraw funds. Please note that the trader may be an illegal Ponzi scheme and stay away!

User Reviews

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FX3353623848
0-3months
SCAM ALERAT!! DO NOT SEND ANY MONEY TO FORTADE! THEY WILL ASK YOU TO SEND $250 MINIMUM AND YOU WILL GET BACK $4000-$5000 BUT THEY LIE, AFTER THEY SAY THEY ARE READY TO SEND YOU YOUR RETURN (WHICH IS ALSO A LIE) THEY WILL TELL YOU TO PAY A FEE OF $580 FOR THE SYSTEM TO RELEASE YOUR MONEY(WHICH IS ALSO A LIE) THEY TELL YOU THIS TO TRY TO GET MORE MONEY FROM YOU. IF YOU REFUSE TO SEND THEM THE $580 THEY WILL TELL YOU THEY CANNOT SEND YOU YOUR RETURN EXCEPT IF YOU CHOICE TO DO A VIDEO SAYING THAT "FORTRADE IS A REAL BUSINESS AND YOU WOULD RECOMMEND THEM AND HOW YOU GOT YOUR MONEY. DO NOT DO THIS DO NOT SEND THEM NO VIDEO..THEY WILL JUST USE THAT VIDEO AFTER THEY STEAL YOUR MONEY AS EVIDENCE SAYING YOU SAID THAT FORTRADE IS REAL COMPANY, THEY WILL USE THAT AGAINST YOU AND AFTER YOU SEND THE VIDEO YOU WILL STILL NOT GET ANY MONEY, THEY WILL POST YOUR VIDEO ALL OVER THE INTERNET INCLUDING THEIR FACEBOOK STORIES, THEY WILL JUST BLOCK YOU. ALL THE VIDEOS YOU SEE ON THEIR FACEBOOK STORIES OR FACEBOOK POST IS PEOPLE THEY HAVE SCAMMED THAT HAVE SENT IN THEIR VIDEOS, THESE POOR PEOPLE. FORTADE HAS NO PHYSICAL ADDRESS, THE ADDRESS POSTED ON THEIR WEBSITE OR BUSINESS PAGE IS FAKE, THEY ARE NOT AT THIS LOCATION THATS GIRL ON FACEBOOK WITH THE BIG **** IS FAKE THAT IS STOLEN IDENTIFY. THIS WHOLE OPRATION IS FAKE. THEY WILL STEAL YOUR MONEY. DO NOT I REPEAT DO NOT SEND THEM ANYTHING. I WAS A VICTIM OF FORTRADE SO PLEASE BELIEVE WHAT I SAYING..THEY ALSO OWN MORE THAN ONE ACCOUNTS ON FACEBOOK
2024-04-11 21:25
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0
0
往事如烟30903
more than one year
As a forex trading platform, we believe that regulation is very important to ensure the safety of client funds and the fairness of transactions. However, as far as I know, Fortrader's regulatory license is controversial, which can pose unnecessary risks to some traders. Traders are advised to exercise extreme caution when choosing a forex trading platform that is regulated by a trusted regulatory body.
2023-03-27 15:02
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