Global Forex Broker Regulatory Inquiry APP


1.35 /10


United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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License Index 0.00
Business Index 5.78
Risk Management Index 0.00
Software Index 4.00
Regulatory Index 0.00
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Warning: Low score, please stay away! 3
Previous Detection : 2023-06-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United KingdomFCA regulation (license number: 609970) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

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!

Broker Information

Company Name

Fortrade Ltd.

Company Abbreviation


Regulatory Status

Suspicious Clone

Platform registered country and region

United Kingdom

Company website

Phone of the company










Company address

  • Michelin House, 81 Fulham Road, London. SW3 6RD.









Customer Service Email Address


Company summary

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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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