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Fortissio Review - is it scam or safe?

Fortissio Review  - is fortissio.com scam or good forex broker?

RATING: 2.7 / 1 REVIEWS ForexBrokerz Fortissio
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Trading accounts and Conditions

 

Account type  Minimum deposit Max. leverage Spread
Basic  $200 1:30 3 pips, fixed
Discovery  $2 000 1:30 3 pips, fixed
Silver  $5 000 1:30 3 pips, fixed
Gold  $10 000 1:30 3 pips, fixed
Diamond  $15 000 1:30 3 pips, fixed
VIP  $30 000 1:30 3 pips, fixed

 

Clients of Fortissio - a Greek forex and CFD broker – can choose between the above account types. All accounts offer fixed spreads and trading on PROfit platform, but non-Basic ones provide price discounts and position loss coverage.

 

 

Fortissio Advantages

 

Solid regulation

The strongest selling point of this broker is the fact that it is regulated in Greece. The company behind Fortissio, Vie Finance A.E.P.E.Y. S.A., is a Hellenic Investment Firm authorized and licensed by Hellenic Capital Market Commission (HCMC).  This means that clients of Fortissio enjoy the services of a wall-regulated broker that must adhere to all applicable laws and financial requirements, including those on a EU level. 

 

Hellenic Investment Firms are required to meet certain requirements, such as to report transactions to the commission, to keep clients’ funds in segregated accounts and all other rules set forth in European directives and regulations. On top of that, all HCMC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to €30,000 EUR per person, If the company ceases trading or becomes insolvent.

 

Many instruments available for trade

Another positive side of Fortissio is its rich product portfolio, which includes around 130 instruments. Clients of this broker are able to trade in a wide range of assets, including currencies, stocks of large international companies, commodities and indices – all available in the form of CFDs.

 

 

Fortissio Disadvantages

 

MT4 not available

As we mentioned in the beginning, Fortissio offers its services on PROfit – a web-based platform, which is also available on mobile, so traders can trade on the go. Although this platform offers some perks, such as trading signals, Trading Insider (showing the percentage of clients for the broker who go for short and long positions) and has wide range of technical analysis indicators, it cannot be compared to the good old MetaTrader4 (MT4).

 

 

The MT4, on the other hand, is the most popular trading software. This is due to its reliability, ease of use, the superior analytics, support for Expert Advisors for automated trading, and more.

 

 

>> Looking for a MT4 broker? <<

 

 

High fixed spreads, four-digit pricing

The cost of trading with Fortissio is quite high, which, of course, is a major disadvantage. The spread on EUR/USD is fixed at 3 pips, while most fixed-spread brokers offer a spread of 2 pips for this pair, and some go even lower. For example, one can trade with 1 pips fixed spread on EUR/USD with Cypriot broker easyMarkets.

 

 

>> The spreads of top brokers compared in real-time <<

 

 

We also have to mention that four-digit quoting is a very outdated parameter which creates an environment, where the importance of slippage and spread only increases. Most broker nowadays use 5-decimal pricing and during extreme market conditions, one may get a 0.3-0.5 pip worse than expected trade, whereas with 4-digit broker the deviation will always be a minimum of 1 pip.

 

Leverage up to 1:30

Leverage allows traders to open larger positions, which multiplies the risk in forex trading and can result in either quick profits or just as quick losses. That is why many regulators have introduced restrictions on leverage. As of 1 August 2018, the European Securities and Markets Authority (ESMA) introduced a leverage cap of 1:30 for retail clients in the EU. 

 

As a broker regulated in the in the European Union and the EEA, Fortissio has to abide by the above rule and offer leverage up to 1:30 for forex majors.

 

 

Conclusion

 

Fortissio is a Greek forex & CFD broker, duly authorized and licensed by the Hellenic Capital Market Commission. This is its strongest advantage. Otherwise, the company does not support the MT4 and its spreads are quite high.

 

Our recap of Fortissio in a few words:

 

Pros

Cons
A licensed broker MT4 not available
Many instruments available for trade High fixed spreads
  Leverage up to 1:30

 

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Traders` reviews for Fortissio

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

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