RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Fortissio is a Greek forex and CFD broker, authorized by the Hellenic Capital Market Commission and offering a good variety of currency pairs and CFDs on spot metals, commodities, stocks, indices and even some crypto coins with a choice of six account types on a web based trading platform.
In the broker’s portfolio there are over 130 trading instruments, among which 42 forex pairs with a number of exotic currencies like South Afican Rand, Singapore Dollar, Swedish Krona, Russian Rubble, Polish Zloty, Norwegian Krone and Mexican Peso.
Other assets include CFDs on spot metals like gold, silver, tin, aluminum and zinc, commodities like oil, coffee, copper, corn, cotton, platinum, palladium, sugar and wheat, 15 indices, stocks and even some crypto coins, including Bitcoin, Ethereum, Ripple, Litecoin and Dash.
So, this looks like a really good selection of trading instruments, but let us check some details about the trading conditions the broker offers.
Fortissio trading conditions
For the benchmark EURUSD pair Fortissio offers a fixed spread of 3 pips, which, in our view, is at least a pip higher than what is considered acceptable with a standard account. The broker offers six account types – Basic, Discovery, Silver, Gold, Diamond, VIP and VIP+, but unfortunately in their presentation they do not disclose what are the spreads with the premium accounts.
In line with the resent requirements imposed by the European Securities and Markets Authority (ESMA) on August 1st, maximum leverage allowed with Fortissio, as with all other European brokers, is caped at 1:30. This, we should note, is a relatively safe leverage level, as with higher leverage traders risk loosing their funds pretty fast, when the market turns in the wrong direction.
Still, for Professional Clients maximum leverage is set at 1:200, but you will have to prove you qualify to trade in this category.
Fortissio trading platforms
As we noted Fortissio offers its clients the web based PROfit Platform, which is also available with a mobile version. The platform features a good selection of technical analysis indicators, trading signals and the Trading Insider, which shows the percentage of clients with short and long positions.
Still, the platform lacks some basic functionalities, standard with classical trading solutions like the MetaTrader4. For instance, we miss the option to run automated trading sessions, which in the case of MT4 is done via customizable trading bots or Expert Advisors.
Fortissio regulation & safety of funds
Fortissio is a brand name of Vie Finance A.E.P.E.Y. S.A., a registered Greek Investment Firm, which as we already mentioned, is licensed by the Hellenic Capital Market Commission (HCMC).
As with other well respected financial regulators such as the Financial Conduct Authority (FCA) in the UK, the National Futures Association (NFA) in the US, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), brokers regulated by HCMC are required to keep all clients funds in a segregated, protected form creditors account, to file regular reports, to allow external audits, to maintain a certain minimum capital adequacy ratio and to report transactions to the Commission.
HCMC regulated brokers are even required to participate in the Investor Compensation Fund, which insures up to 30 000 EUR of the trading capital in case a broker is unable to pay. Similar compensation schemes with FCA and CySEC licensed brokers guarantee traders up to 50 000 GBP and 20 000 EUR of their trading capital respectively.
Fortissio deposit/withdrawal methods and fees
You can fund your trading account at Fortissio with all major credit or debit cards like VISA and MasterCard, popular e-wallets like Skrill, Neteller and EcoPayz, as well as with bank wire.
The minimum deposit requirement to open a Basic Account is set at 200 USD, which is acceptable. For the premium accounts you will have to invest 2000 USD for a Discovery Account, 5000 USD for a Silver Account, 10 000 USD for a Gold Account, 15 000 USD for a Diamond Account, 30 000 USD for a VIP Account and 50 000 USD for a VIP+ account.
Note as well, that the broker has a financing fee, calculated on the open positions left overnight in the amount of 0,015% for all forex and CFD instruments.