ForTrade.eu Review Visit site

Updated: Nov 28, 2019
1.076 · 7 REVIEWS
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ForTrade is a forex and cryptocurrency broker. For Trade offers the MT4 and MT4 Mobile trading currency platforms. ForTrade.eu offers over 60 currency pairs, stocks, indices, commodities and cfds for your personal investment and trading options.

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1.076 · 7 REVIEWS
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Consumer Reviews

Malta, Malta,
Nov 27, 2019,
Registered user

Fortrade wrong suggestions, unethical behaviour

Service use: Live

Length of use: 6-12 Months

About 1 year ago I opened an account with fortrade with the idea of exploring trading and to invest little by little. Being new to all this a manager from fortrade began assisting me. At first it was all high hopes for a bright future. He began assisting me real good..phoning nearly every day and giving me instructions which trades to open and the size of each position etc.. I began to make profits on some trades, losses on others..etc. All the way along I was told that I needed to add more funds as this would make my account more stable for market fluctuations.. The total amount I transferred in the first 6 months was about 120,000 euros.. and overall it was going good.

At around January this fortrade manager was replaced by another one..the same one I have now. He immediately placed me on the Cannabis stock Tilray.. from here on it was only panic, doom and gloom. He wanted me to invest in Tilray which was trading at around 80 usd. I was following Cannabis trades with small investments on Aurora, Cronos and Canopy but never dared look at Tilray which was in a downward spiral. He insisted it was trading really low and sent me emails with analyses..etc. Being my manager I obeyed and bought at a price of around 80 usd.. when Tilray kept going down I protested many times (always on the phone) but he insisted that I should only average down and no stop losses were ever mentioned. I trusted him and averaged down, but then my margin went really low and he insisted that I should add more funds..whilst I was telling him that I should close Tilray, taking the losses (were still manageable at this stage).. but he said that Tilray will prevail and sent me more emails with analyses etc..and kept telling me that I should keep adding funds and everything will be ok. However days later I went Against his suggestions and closed all Tilray stocks at a price of around 50 usd and taking a huge loss of about 80,000 euros. I was really disappointed and during one of our phone calls I told him that I wanted to exit all trades and to withdraw my remaining funds.. Few days later Tilray went to about 55usd and he sent me an email convincing me that I should not have closed it and that stocks reverse. I took the blame on myself and began trusting him again.. He told me many times that he will help me get profits again.. and that the Cannabis stocks will be very profitable and that I should keep investing in them and to always hold and not sell and I will get on top of all this (Tilray is currently at a price of about 20 usd.. so he was really wrong all way long)..

I decided that after that loss I will not invest in Cannabis until stocks settle down.. At the time silver was trading at about 15usd and after doing my own research I decided to invest in it (out of my own will) and so I did. I began buying silver stock little by little but he insisted I should close silver and instead invest in Cannabis stocks. I again resisted and told him that I would like to diversify my portfolio. He kept calling me nearly everyday to close silver and one time he was also rather rude. At first profits on silver I closed my position at a price of about 16 usd..and invested in Aurora (Cannabis) at an average price of about 7 usd. as he told me ! Big mistake ! One week later silver was at about 18 usd.. whilst Cannabis stocks began plummeting. If I had held silver I would have made a profit of more than 80,000 euro.. I protested again but was always reassured that everything will be ok.

To cut a long story short a got deep down in Cannabis stocks always averaging down, never selling and holding the huge losses, as he always told me to never sell with a loss. In an email I told him again that I wanted to close everything even with my losses (I still had an equity of about 160,000 euros from the 200,000 I had invested) and stop, but he replied that I should hold as the markets will turn around.

I kept adding more funds just to keep my margin from closing my now sinking positions.. until I deposited all my life savings, a total of about 250,000 euros (120,000 euros this year). The last 2 months all Cannabis stocks plummeted and many many of my positions were closed due to margin call. My Equity is now around 5,000 euros. Believe it or not he asked again last week to put in more funds and that he was really sorry for my losses !!

This Fortrade manager never used any risk management and ruined my life !

I have many emails backing up all this..though most of the talking was done on the phone. But I can assure you that he never mentioned anything to protect my account.

Thanks for the opportunity offered to express my concerns about these cheaters !

More. Community discussion of this issue >>

Lagos, Nigeria,
Oct 17, 2019,
Registered user

Fortrade Senior Account Manager Covert Cheating Tactics

Service use: Live

Length of use: 0-3 Months

It's very sad that once their high pressure marketing officers have lured you to open account with Fortrade, you are immediately subjected to glib, smooth talking Senior Account Manager whose mandate is to ensure that you lose your first trade by wrong advice.

I opened an account with Fortrade on 2019/09/23
On 2019/09/25 by 07:57am, my Senior Account Manager called me and advised me to open a Buy Trade for Gold WITHOUT A STOP LOSS. He told me not to put a STOP LOSS.
I lost 33.66% of my capital within a few hours before I closed the trade.
Tuzla, Bosnia and Herzegovina,
Aug 11, 2019,
Registered user

Fortrade bad counseling and covert cheating...SCAM...

Service use: Live

Length of use: 6-12 Months

I'm man who trusted my Fortrade Senior Account Manager. Some times before i had some bad experience with Fxlider company with whom i opened my account and did some trades but get out in time and withdrawe my mony or most of, and Fortrade seems have some connection to fxlider because he(Fortrade Senior Account Manager) called me many times and he explain that they are nothing like fxlider and that their clients have big profits and that they get valid counseling and everything reports even whatsapp number to always be in contact normally he promised lot and in beginning immediately said that if i have bigger investment i will have security and bigger profit. He said if i have investment of 10.000 euro i can with much more security do trading with 1.00 lot and that is all i learned about money management. He send mails with exsamples of ther profits usually with cannabis companys...
And eventually I accepted their offer and started working with them. i made an investment first 1000eur and opend position on aurora cannabis company and made some profits.
He was always asking me to reinforce my account every time, especially when I would make some profit. It was like we can do it more, make more, with even more security. So after making some profit on aurora i made more transfers in next time period.
Frst 800€, den 500€, but it always sounded like it wasn't enough so after that transfers i decided to transfer all my savings to get some security and try to make some bigger profits like he suggested that i could make that 1,00 lot positions.
So next two transfers were 6.500€ and i had in about 10.000 € balance.

And in that time he introduce me in crude oil. It was always up standard from those days to the time i lost most of i had, he always assured me that is and will only grow. The price may drop a little bit but it will always recover because crude oil is in "up standard". And in next time period i was only doing buy position on crude oil. I had some profits. David send me reports mails and in that time period he called me daily and still was frequently asking me to reinforce more my account and like he was preparing some next big thing and i will be included. But i already transferd all my savings and put everything in.

He was very persuasive in that calls and finally i asked if i were to borrow 5.000€ more could that make big difference he suggested of course that it would. I got the impression that i could make more profit, do that 1.00 lot position and even go a little bit higher because of my additional investment.

Next, because i was under impression that crude oil will only grow i buy two positions on very high price one 66.235 price - 0.20 lot, and another 66.545 price - 0.40 lot.
Shortly after that, I made transfer in three times of 5000€ (borrowed money). 2 x 2000€ and 1x 1000€.

After that i was confident and we had one correction on crude oil, but David said that is just small correction and price will again go up "up standard" and i could take that profit. So i opened two more buy positions on crude oil one on 63.515 price - 0.60 lot, and another 63.015 price - 0.30 lot.
After that i was noticing that price is falling i was thinking that is just temporary, correction could be little bit longer but will grow again. I even did some sell positions but they were allways to much risky David said clearly.

After that it was chaos, the price just kept falling and very soon two of my positions went into automatic stop loss on 31.may.2019. and price was falling very quickly he ignored me did not respond. And i was force to close one position to try to save anything. When I opened those four positions i had 17.000€ and after this i had 4.900€ and still have one more buy position left price 63.015, - 0,30 lot. And i'm under the risk to lose it all becose my account is in debt -2.476€.

Now they are prety much very good coverd and i was left with one more opend position in debt, with no savings, in debt privately because borrowed mony, they are big SCAM and they do it very professionally..

More. Community discussion of this issue >>

NAIROBI, Kenya,
Jun 10, 2019,
Registered user

POOR WITHDRAWAL SYSTEM.
YOU ARE ONLY IMPORTANT WHEN PROCESSING DEPOSITS.
THEIR CUSTOMER CARE DON'T HELP WHEN IT COMES TO WITHDRAWALS.

More. Community discussion of this issue >>

kenya, Kenya,
May 24, 2019,
Registered user

sxammers

I deposited money into their account and since then they no longer respond to my inquiries.when I checked my balance it read zero.their support team is extremely bothersome and even rude.stwy very far from fortrade
Rome, Italy,
Jan 25, 2017,
Registered user

Dear readers,

good morning. Actually I give only one star because my experience with this broker has begun in December 2016, only and I just was trying to understand how it is going on, how much I could trust it.

Yesterday at 11:00 broker time I have caught the Turkish Lira swing and made some money and 20 minutes ago Mrs. Ana Drazic wrote me an email saying "... I can see that you trading is going very well so far so I am interested to talk with you so I can offer you some special conditions from our side and to see what are your plans for future investments and work ...".

I replied via email in the afternoon writing "... About the today trading, yes the News about Turkey was interesting and my strategy was winning. About what to do next, I almost never take decisions during the trading week; I need to do it during the weekend, when relaxed. In the while, I want no changes ...".

Five hours after Mr. Richard Kay wrote me an email with subject "Cancelation of Trades" and the text said: "

Dear Mr Matacena,
Please find attached notification of cancelation of trades.
If you are not happy with this decision then we have a full complaints procedure on the website:
www.fortrade.com/wp-content/uploads/legal/Fortrade_Complaints_Procedure.pdf

Regards,
Richard Kay
Chief Compliance Officer

Fortrade Limited
Michelin House,
81 Fulham Road,
London. SW3 6RD.".

That's it.

I answered again asking for clarifications but in few minutes they replaced any price of the trades to reach gain = zero, so I can't demonstrate any more my trades and can't file a claim to the Ombudsman: but I got my trades, first, and - second - I saved the stats into online and offline files, so their unfair behaviour will be shown to public here until the broker will give me public excuses and will fully restore my gains.

I will update you here as I will have news.

Best regards,
Elio Matacena.
Pierre3,
Gibraltar, Gibraltar,
Jul 15, 2016,
Guest

Dear admin I wish amend my precedent review.
They have fully paid my balance with no cost and bank transfer fees.
The platform work fine, the spread are correct. No delay in the execution.
I will give only 3 stars because the support is not the best and it is difficult communicate with them

2016-07-13 1Star I opened a fx account in may and some days ago I requested a withdrawal. www.fortrade.eu has the same FCA Licence number as fortrade.com and fxlider.com .Take a look at http://www.forexpeacearmy.com/public/review/fxlider.com. I called them many times asking when my withrawal will be processed but nobody answer or they drop the line when they become aware you call for a withdrawal request. Now I will give 1 star and I will wait some days and if I dont receive my money I will upgrade the case to scam folder.
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