What is Fortrade?
Fortrade is an Online FX & CFD broker in UK.
The broker is regulated and licensed by FCA ‘Financial Conduct Authority’.
Fortrade is a reputable online brokerage that offers cryptocurrency trading, allowing professionals to buy and sell digital currencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Fortrade provides traders with a range of trading platforms, including their own proprietary trading platform and the popular MetaTrader 4 platform, which offers advanced charting and analysis tools.
Trading Cryptocurrency CFDs on Fortrade
On Fortrade MT4, you can trade the following Cryptocurrency pairs:
The maximum leverage for the Cryptocurrency pairs is 1:5, and NBP ‘Negative Balance Protection’ is fully supported.
You can trade them from 21:05 to 20:59 in GMT.
By opening an account with Fortrade, you can also invest in 200 other financial instruments including Currencies, Indices, Stocks, Precious Metals, Energy Products, Agriculture Products, US Treasuries and ETFs.
The required minimum deposit amount is only $100 for all account types.
How to start trading Cryptocurrencies on Fortrade?
To start trading cryptocurrency CFDs with Fortrade, you’ll need to open an account on Fortrade website by clicking the “Sign Up” button and completing the registration process.
After you register, you’ll need to verify your identity and account information by submitting required documents such as a government-issued ID and proof of address.
Once your account is verified, you’ll need to deposit funds into your trading account using one of the available payment methods, such as credit/debit cards, bank transfers, or e-wallets.
Then, you can navigate to the trading platform and select the cryptocurrency CFD you want to trade. Fortrade offers CFDs on various cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple.
Next, you’ll need to choose the trading size and leverage that suits your trading strategy and risk management.
To place your trade, you’ll need to select the direction you think the market will move (either long/buy or short/sell) and enter the trade.
You can monitor your trade and manage your risk by setting stop-loss and take-profit orders or adjusting your position size or leverage.
Finally, you can close your trade when you achieve your profit target or stop-loss level, or let it run if you believe the market will continue in your favor.