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Fortrade Review – Is it scam or safe?
RECOMMENDED FOREX BROKERS
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Spread|
|Live||$100||0.01||1:200||2 pips on EUR/USD|
This forex broker offers its clients just one live trading account type with leverage up to 1:200, micro tradeable lots and no commission fees.
Fortrade is the trading name of Fortrade Ltd., a UK-based company authorised and regulated by the Financial Conduct Authority (FCA).
It was established in 2020, and now it offers a wide range of trading instruments covering more than 150 currencies, as well as commodity, index and stock CFDs through their in-house platform, as well as the MetaTrader 4.
Security of Funds
Fortrade Ltd., operating under the brand Fortrade, is duly licensed and regulated by FCA. UK-regulation is famous for its strictest standards and supervision. To acquire a license from the UK financial watchdog, brokers have to prove their financial stability and to meet a number of requirements. For instance, clients` funds are to be kept in segregated bank accounts separated from the company’s operating funds. What is more, regulated companies must hold a minimum of €730 000 to be considered financially stable. Similar minimum capital requirements apply in other jurisdictions: Australian brokers are obliged to possess at least $ 1 million; Cyprus-based brokerages are required to hold € 1 million; and US forex brokers must possess $ 20 million.
Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person per regulated firm.
Here is a list of more FCA-regulated brokers.
Minimum Initial Deposit
Fortrade recommend a minimum initial deposit of 500 EUR/USD/GBP, however it is possible to start trading with just €100. This is an average minimum initial deposit. In comparison, other UK-based forex brokers, like FxPro, require $500, and XM for instance demands just $1 from traders to start with.
Spreads & Commissions
Fortrade charges no commissions, as it gets its remuneration through the spread. This broker offers fixed spreads, amounting to 2 pips on EUR/USD, which is average for the market. Yet, trading costs with other brokers are lower. For example, FxPro provides average variable spread of 1.4 pips on the EUR/USD for its commission-free MT4 accounts.
This broker offers different maximum leverage levels, depending on the instruments traded: 1:50 for indices and commodities CFDs, 1:10 for stock CFDs and 1:200 for most currency pairs.
A maximum leverage level of 1:200 is standard for the forex market. If you need higher leverage, other UK-based brokers provide such: HY Markets – 1:300; Admiral markets – 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.
Leverage allows traders to gain large exposure to diversified markets with a relatively small amount of invested capital, however it is healthy to keep in mind that the higher the leverage ratio, the higher the risk. Leverage is a double-sided coin.
Fortrade offers its services on two trading platforms, its in-house Fortrader and the the popular MetaTrader 4.
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Fortrader is available as desktop, mobile and web versions available. This is its proprietary platform, which is very simple and easy to use, yet traders who are used to the advanced features offered by MT4 may find it too simple and not very handy.
Besides, Fortrade supports the most common platform for currencies trading, MT4. It also is available in all forms and shapes, for desktop, web and mobile users. This platform is highly valued for its reliability, ease of use, and top notch professional tools and features: great charting package, wide range of Expert Advisors, indicators, backtesting options, etc.
Like many other brokers, Fortrade also offers a welcome bonus, amounting to 30% of the first deposit (up to €3000). The deposit must be €100 as a minimum and the bonus expires within 90 days.
Bonus monies may be used for trading only and cannot be withdrawn until account trading volume reaches 10 000 base units for every €1 bonus.
Methods of Payment
Fortrade’ s clients can make deposits and withdrawals from and to their accounts via credit/debit cards, bank transfer, wire transfer, Skrill and Neteller.
Fortrade is a well-regulated UK-based broker offering trading in forex and various CFDs under competitive trading conditions. To sum up the above, here are the Pros & Cons in relation to this broker:
|FCA-regulated||Only one account type offered|
|30 % on deposit welcome bonus|
|MT4 available, as well as in-house platform|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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RapidWorkers: Scam or Legit ? Review with Payment Proof
By: sudhir sheoran | Last Updated : February 16, 2020 | 26 Comments
In my last post , I discussed everything that a newbie wants to know about Microworkers Read here. Today , I am going to review another crowd sourcing platform that I recently get paid from. I am talking about none other than Rapidworkers.com . I consider Rapidworkers as a good alternative to Mturk and Microworkers although you don’t have too much work here to do all the time. Still it can be a good place to earn some extra money .
In this post , I will cover following topics –
1. What is Rapidworkers and How it works ?
Rapidworkers is a service of UnikScripts, Inc. and is free to join . The website is pretty similar to Microworkers and has almost same working interface although Microworkers website is somewhat more innovative and professional . There are two kind of people at Rapidworkers –
Employers – Employers are the people who post tasks for workers. When a worker accept and complete a task , the employer review the task and check if the worker have done it correctly or not , if employer is satisfied with the work then he rate the task as satisfied and pays money for that task. This is the way how Employers get their work done here.
Workers – They are the people who complete tasks for money.
This is an example task . See the above picture – the employer is asking worker to do a sign-up task . The task will take 3 minutes as shown in the picture above. The task is available for international members and 18 people have completed the task already. The employer will pay $0.10 for this task.
Employers post a verity of tasks include –
2. Is it just another scam or a legitimate website ?
Rapidworkers is definitely a legitimate platform to earn money . Recently I got paid from Rapidworkers and that with in 1 day after withdrawal request . Here is my Payment Proof –
Here is the another Payment proof that make Rapidworkers a legitimate website and may satisfy your curiosity-
You can even match the total withdrawal amount in this picture with the Paypal transaction in the first payment proof.
3. How much one can earn at Rapidworkers ?
That entirely depends upon your location , time you give and skills you got. People from UK , USA , Australia, Canada , Norway and NZ have always more opportunities and tasks that pays more. If you are from any other country then its going to be certainly difficult for you. Still you earn 1-3 USD per hour . Also they give you $1 just for signing up.
4. How to withdraw money from Rapidworkers ?
Payments are sent via PayPal & Skrill. Their withdrawal threshold is very low and that can be a real advantage for international members. You can place a withdrawal request if your balance is over $8.00 + 6% fees. Steps you need to follow for withdrawal-
Click Support tab/Submit button/then select PayPal or Skrill Withdraw / enter the amount and email to send in box. Payments are processed (Maximum 1 week after placing a withdrawal request>
You can also use your balance to start a campaign , i.e., no need to deposit money separately by credit card or Paypal to start a campaign.
5. Pros and Cons of Rapidworkers
Rapidworkers has several advantages over some other websites and some disadvantages as well.
6. How your location may affect your Earning ?
People from UK , USA , Australia, Canada , Norway and NZ have always more opportunities and tasks available that pays more. If you are from any other country then your journey is going to be certainly difficult .You can see the difference in the picture below –
Tasks available to the USA workers-
You can see in above picture that tasks are really paying good to USA workers.
Now see tasks available to International workers-
Paying Rates here are dreadful.
Rapidworkers has been very good to me. The important thing is that Rapidworkers.com is a legitimate platform to make money by doing small tasks. Rapidworkers is good for newbie who are looking to make some extra money online .If you have some spare time or you just surfing the web to kill time then you should join Rapidworkers to make your time productive. If you don’t have any other good resources for online money making like your own blog then I will recommend you the Rapidworkers. Give it a shot , choose task properly that you can finish and share your earning experience by commenting below.
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About sudhir sheoran
After graduating from university with a degree in Printing Technology, Sudhir Sheoran quickly got his feet wet in the blogging world. He decided to take his passion to the next level and founded INCOMOPEDIA. He loves writing about Printing Industry, Blogging, Make Money Online Opportunities and Everything Else that fascinates him.
Hi Sudhir, international jobs can be done by everyone regardless from which country you are?
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