Fortrade
fxcl markets
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Overview
Fortrade was founded in 1992 and is headquartered in UK, while fxcl markets was established in 2006 and is based in Cayman Islands. Fortrade holds licences including Financial Conduct Authority (FCA) FRN: 609970, while fxcl markets is regulated by Financial Services Authority (FSA) number 1637 among others. Fortrade serves 10,000+ clients worldwide; fxcl markets has 10,000+. The minimum deposit is $1 at Fortrade and $250 at fxcl markets.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Financial Conduct Authority (FCA) FRN: 609970, National Bank of the Republic of Belarus (NBRB) FRN: 193075810, Australian Securities and Investments Commission (ASIC) ABN: 33 614 683 831 | AFSL: 493520, Canadian Investor Protection Fund (CIPF) CRN: BC1148613, Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20 | Financial Services Authority (FSA) number 1637 |
| Founded | 1992 | 2006 |
| Country | UK | Cayman Islands |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Fortrade and fxcl markets, directly affecting your bottom line as a trader. Fortrade has a lower barrier to entry with a minimum deposit of $1 (vs $250 at fxcl markets). Neither broker charges withdrawal fees. Fortrade charges deposit fees; fxcl markets does not. Overall, Fortrade scores higher on fees in our assessment.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Fortrade offers MT4, MT5, cTrader, while fxcl markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. fxcl markets supports social and copy trading features, which Fortrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Binary, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Fortrade and fxcl markets compare. fxcl markets runs regular live webinars; Fortrade does not. fxcl markets has a video library; Fortrade does not. fxcl markets publishes daily market commentary; Fortrade does not. fxcl markets integrates third-party research tools (Trading Central, Autochartist); Fortrade does not. fxcl markets maintains an archive of past webinars for on-demand viewing. fxcl markets scores higher overall in education and research.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Fortrade accepts 4 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Neteller), while fxcl markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fxcl markets uniquely supports Skrill among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | No | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Fortrade and fxcl markets offer live chat support. Both provide phone support. Email support is available at both brokers. Fortrade supports 1 language and fxcl markets supports 8, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | Fortrade | fxcl markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |