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Double-dealing Fortrade scam

As it happens, a stylish, bold and energetic broker’s self-description on its website usually hides a far uglier truth. Another vivid example of a turncoat Forex broker is a company named Fortrade.

Just looking at Fortrade’s website is an aesthetic and literary pleasure. Catchy advertising images with uplifting slogans whirr past you in bright flashes, and the texts, penned by inspired copywriters, leave no doubts as to scrupulous honesty and integrity of the broker.

However, attempts to promptly confirm the best first impressions with comments of the company’s clients bring out something completely different. A trader nicknamed aleksei8 relates problems with withdrawals and nifty manipulations of the broker after the request to withdraw funds.

“Guys, this fortrade is a 10,000% scam. They just won’t let you withdraw your money, spoken from my sore experience. Rather than sending you the good news that your money has been withdrawn to your real account, it’s easier and cheaper for them just to delete your profile, block your account, or even the IP address”.

And it gets worse. A very personal story by a trader nicknamed JONY describes how his family was affected when not only was he denied the money, but branded a persistent offender of the company’s rules as well after requesting Fortrade to withdraw funds.

“Fortrade is a very shady business. On August 2nd, 2020 I deposited 900 US dollars to trade. By September 1st, my account grew to USD 1,700. I wanted to withdraw some of it since my daughter was starting at the school, and the family wanted to celebrate. To my surprise, I saw that on that very same day, all – absolutely all – my money was withdrawn from the account, and I received no notification. Later I received a letter they forced me to sign, stating my consent to close the account in the future, I was accused of breaking the company’s rules of trading. I requested a return of the initial deposit. More than 18 days passed, and no money ever came. I sent a lot of messages, tried to call – nobody is responding. Cheats!”

Many sober-headed people would have abandoned the thought of working with this sorry excuse for a broker just after finding the two above comments. But we have several more, to give you a complete breakdown on Fortrade’s intricate scheming.

Alarming behavior of managers

Usually, the shortcomings of a broker’s support service merit just a mention in passing, maybe a casual mild remark in the very bottom of the list of griefs. But in the case of Fortrade, the support service deserves a centerpiece. Judging by the clients’ feedback, the broker’s support managers have authority that is not only unlimited but sometimes reaches beyond all decent extent. Here is what another victim of the boorish support has to say:

“I’ve had this nuisance, the broker happened to have deleted my account where a lot of my money was; I don’t want to say how much in this feedback, but a lot. Naturally, the first thing I did was address the support service. The answer I got, they did not know who I was. I went and got account statements to prove the money transfers to the broker. And they responded to this information with complete blocking, after which nobody picked up the phone or answered my letters and enquiries, even when I was using different phone numbers and e-mail addresses. As soon as they saw and heard that it was me, they just terminated the connection abruptly.
ADVANTAGES: none.
DISADVANTAGES: the broker deleted my account with a lot of my money on it. I got completely ignored and lied to by the support service.”

The comment below seems to be ready for submission to controlling authorities for an official enquiry. It has it all – names, amounts, the whole enchilada, topped with another testimony to insolence of the support service.

“Fortrade is an especially dangerous rogue broker, notorious for siphoning off huge amounts of money. They have this trading agent named Mark who can influence opinions of people. He tricked my brother out of USD 5,000, promised mountains of gold and called him every day. I told my brother to get rid of them all and not to talk with them, but no, they brainwashed him into making a decision to invest in an aggressive trade that was controlled with instructions of this Mark, the lying taleteller who successfully drained all the money. He then said that to recover the trade and come out on top, USD 4,000 more is needed, At that point, I just snatched the phone out of my brother’s hand and told the other guy to knock it off.
ADVANTAGES: none to be found.
DISADVANTAGES: especially dangerous rogue broker, notorious for siphoning off huge amounts of money. My brother got tricked out of USD 5,000.”

Notice that Fortrade’s official website promises very attentive support managers who are ready to answer any question and offer assistance at any time of day and night:

Inferior technical facilities

However, shortcomings of the support service can always be written off as a bad day of a certain manager, foul mood or people generally being human, not machines. However, when Fortrade is concerned, their so-called “robots” are far from perfect. This client describes disruptions in operation of their platform:

“After 4 successful trades my platform hung up, I opened a new trade. All trades have been frozen for more than 20 hours. Surprisingly, everything works just fine in the demo version, and this freeze-up only happens to the pair that I’m trading. Interesting, isn’t it? After I close the current trade, I’d never work with this broker again.”

Well, okay, things happen. Sometimes, trading platforms act naughty even if they are provided by the most reliable and trusted brokers. However, if the feedback below is something to be judged by, absolutely everything about Fortrade is naughty, with no exception: the Russian website, their own trading platform, and their desktop app.

“Even though they have a Russian version of their official website and support, I was unable to set up the language of their desktop platform. Generally speaking, judging by the desktop and web platform, ForTrader is not very functional (I get what help I can from google translations). I opened a couple of trades in the demo account and I’m telling you this platform is somewhat clumsy. The quotes are late by just fractions of a second, but still the delay is noticeable. This is why I’m trading via the last year’s build of MT4. Everything works fine here, I even wrote to the support to get rid of this ForTrader and provide MT5 instead, at least it shows the market depth adequately.”

All the while, the broker keeps offering a land of milk and honey in the form of instant execution, reliable operations and successful trading solutions in just a few mouse clicks:

Never-ending stream of dissatisfied customers

There is an infinite flow of emotional negative feedback in the Russian segment of the Internet about the experience of working with Fortrade. Traders complain of the company’s cheating, invested money gone forever, and rude behavior of the broker’s personnel. All these comments can be easily summed up in the two posts below. The first comes from a client – most likely, a former client – nicknamed alex7005:

“An absolutely horrible company with horrible customer service… they closed my account with no viable reason… stay away, they’d steal all your money.”

The other uncovers the swindling schemes of the broker and comes from a user nicknamed tadjik2011.

“Crookery of a terrible scale misnamed a broker. Fortade has a very successful scheme in place to deceive citizens of different countries. First, by threatening to close the account, they force you into depositing huge amounts of money, and if the fortune smiles on you, and your account grows – they remove it. These are professional thimbleriggers.”

To round it up, here is a screenshot of the Fortrade’s official website, where you are promised to be doing just fine if working with the broker.

Conclusions

Who can describe a broker better than the traders dealing with it? There is none better! After reading this feedback, though, there is only one thing left to do for beginners who are eyeing Fortrade – run for all they are worth!

To be sure, Fortrade lures its prey with colorful ads, a convenient website and crafty narratives. Then it quickly drains the accounts and deposits of fresh clients.

If our directness may be pardoned, Fortrade is nothing but a bucket shop. Under no condition should you trust them with your hard-earned money.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Varry | Data de  2021-09-17
If you ever see Fortrade again, please stay away. Their representatives have a way of luring in clients. Don't let them fool you with their smooth-talking because this company has no other intention but to take your money. I invested $500 to this broker and they just terminated my account after a few days.
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Author: Yago | Data de  2021-09-07
When I opened an account at Fortrade, the only thing that I was looking forward to was an amazing trading experience. But then after a little more than a month, their representatives were no longer responding to me emails and when I tried to withdraw my funds, my account was closed down.
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Author: Jack | Data de  2021-08-23
Why is it so hard to identify a fraud broker nowadays? I believed in everything that the employee of Fortrade told me because their services seemed promising and she sounded so trustworthy. But in the end, the broker still turned out to be a fraud and they ran away with my money.
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Author: Pauine | Data de  2021-08-11
First of all, I was never able to use the platform of Fortrade because it kept malfunctioning. Despite all the reports I made, the company did not respond to any. Second, when I decided to close my account, the company did not allow it. Instead, they terminated my account claiming that I had a violation which in turn gives them the right to hold my funds. Needless to say, I never got my money back.
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Author: Rian | Data de  2021-08-02
My experience at Fortrade was terrible. I only had access to my account for two weeks and after that, the broker closed it. I tried reaching them but they did not respond to me at all. I think they have completely disappeared now together will all the money that their clients deposited.
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Author: Jonah | Data de  2021-07-28
After making a deposit to Fortrade, I waited to have access to my trading account but the broker did not give it. I contacted them and they told me that the account was deleted and they did not receive any amount. But the transaction was not invalidated and I asked my bank and they said that it went through. I was so confused back then but now I understand. This broker was simply a fraud.
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Author: Salvador | Data de  2021-07-19
I had a demo account at Fortrade. And I must say that I am so relieved that I did not continue to having a live account because I have avoided losing my money. The company was already encouraging me but since I still have no enough money, I did not invest. I never though that this broker would turn out like this.
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Autor de double_dealing_fortrade_scam: Frederik | Data de  2021-09-03
That's good for you. You avoided investing with a fraud. I wish I have avoided it too but I was already too eager to start earning that I opened a live account shortly after experience the demo trade. Because of this carelessness, I ended up losing my money.
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Author: Richard | Data de  2021-07-15
I am active in a trading forum online and one member reached out to me. He started sharing his experiences in trading and how he has become successful at Fortrade. I already heard about this broker before but the feedback was not good. But he was saying good things about it and started encouraging me to open an account. He even gave me a referral link so I can receive a bonus. Good thing, I already had experience with fraudsters before and this is exactly how they attract clients.
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Author: Roberto | Data de  2021-07-09
For some reason, my account manager has a huge influence on me. I followed all his recommendations and even deposited multiple times without any doubt. I probably trusted him so much because all of his advice on trading actions resulted to huge gains. I never thought that it was just his way of earning my trust and in the end, I deposited more than $3000 on this broker.
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Author: Francis | Data de  2021-06-29
Fortrade started off great but after a while, their customer support team no longer answers to my questions. Whenever I need assistance, I don't get it because the support representatives would just ignore my messages. To be honest, it was really frustrating and I got so mad when I realized that the broker never had any intention to provide assistance because they already got what they want: our money.
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