Minimum Deposit: $10
Maximum Leverage: 1:1000
FortisFX, founded in 2018, is a forex and CFD broker. Despite being a newly established broker, the variety of trading conditions is quite good. Despite being a newly established broker, the variety of trading conditions is quite good. In general, many new brokers offer a limited number of options for payment methods or account types. However, the variety of account types and payment methods offered by FortisFX is at a satisfactory level for investors.
Despite these positive features, the official website is pretty bad. The design of the site is amateurish and some pages are empty. That’s why the problem of trust comes out. Well, is FortisFX scam or reliable? How can we understand this?
In this FortisFX review, you can find the answer to all the questions about the broker. What are the account types offered by the broker and features such as minimum deposit, maximum leverage, spreads? Which methods can be used as deposit and withdrawal methods? Is there a withdrawal problem?
Let’s look at it together.
Account Types in FortisFX
You can see the account types offered by FortisFX in the following table. Although the variety of account types seems good, it is not advantageous. Because some details are very important in account features. Let’s analyze the account types.
|Account Type||Minimum Deposit||Maximum Leverage||Spreads||Contract Size / Lot||Min order size||Stop out|
|Mini Classic Cent||$10||1:1000||From 3 pips||100||0.10||20|
|Mini Classic||$100||1:500||From 3 pips||10,000||0.01||20|
|Mini Classic 5 Fixed||$100||1:500||From 3 pips||10,000||0.01||20|
|Standard||$1000||1:500||From 0.5 pips||100,000||0.01||90|
|PRO-STP||$10000||1:300||From 0.1 pips + 0.5 commission per lot||100,000||0.01||90|
The Mini Classic Cent account type is similar to the nano account in other brokers, like the cent account in FXTM. In this type of account, investors can try their strategy without risk. The main purpose is not to earn money but education.
In this type of account, investors can try their strategy without risk. The main purpose is not to earn money but education. The maximum leverage for this account type is 1: 1000. This leverage ratio is higher than the average forex industry, but I can not say that it is risky. Because it is a kind of nano account.
There is an important detail for the Mini Classic account type. According to the information on the official website, Contract size/lot of this account type is 10.000 unit. Normally, in other brokers, 1 standard lot equals 100.000 unit. This is an important negativity.
For the Standard and Pro-STP account type, the contract size of lot is 100,000 units. However, the stop out level in these account types is 90%. I think this broker has the highest stop-out level among the brokers I see on the market. Therefore, these account types are not useful for many investors.
Although FortisFX is a newly established broker, it offers a sufficient number of deposit and withdrawal methods. For example; Neteller, Skrill, Fasapay and Webmoney can be available from popular e-wallet systems. Many e-wallet systems are not available for new brokers. You can also use deposit and withdrawal with the credi card as the fastest method.
|Methods||Fees on Deposit||Processsing Time on Deposit||Fees on Withdrawal||Processsing Time on Withdrawal|
|VISA||No fees||up to 1 hour||No fees||up to 1 hour|
|MasterCard||No fees||up to 1 hour||No fees||up to 1 hour|
|NETELLER||No fees||Instant||3.9%+$0.2||up to 1 business day|
|Skrill||No fees||up to 3 hours||1%||up to 1 business day|
|WebMoney||No fees||up to 5 hours||0.8%||up to 1 business day|
|FasaPay||0.8%||up to 5 hours||0.5%||up to 1 business day|