- Full range of investments
- Regulatory oversight
- Multiple payment methods
84.97% of retail CFD accounts lose money
Fortissio Review 2024
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In This Guide
Fortissio Review 2024: A Comprehensive Look at the Broker’s Features, Fees, and Security
Fortissio is an online broker that provides trading services in a wide range of financial instruments, including forex, CFDs, stocks, and cryptocurrencies. Established in 2011, Fortissio operates under the regulatory oversight of HCMC (Hellenic Capital Market Commission). This review will explore the broker’s offerings, fees, platform features, and customer support to help you determine whether Fortissio is the right choice for your trading needs.
Fortissio Review 2024
Fortissio is a multi-asset broker that allows users to trade various financial instruments through its web-based platform and PROfit mobile app. The broker is particularly popular among European traders, especially in Greece, thanks to its regulatory backing from HCMC. However, it is essential to understand its key features and limitations to determine if it fits your trading goals.
Highlights:
- Regulated by HCMC in Greece.
- Offers forex, CFDs, stocks, commodities, and cryptocurrencies.
- PROfit platform for web and mobile trading.
- Multiple account types for traders of all experience levels.
Is Fortissio Safe?
When selecting a broker, security is one of the top concerns for traders. Fortissio operates under the regulatory oversight of the HCMC, which adds a layer of credibility and security. However, Fortissio’s reputation among traders varies, with some expressing concerns over customer service and withdrawal issues.
Key Security Features:
- Regulation: Fortissio is regulated by HCMC, providing a sense of security for European traders.
- Segregated accounts: Client funds are kept separate from the broker’s operational funds, ensuring they remain protected.
- SSL encryption: Fortissio’s platforms are secured by SSL encryption to protect sensitive data.
Fortissio Trading Fees
Fortissio charges a mix of spreads and commission fees depending on the trading account type and the financial instruments being traded. While the broker offers fixed spreads, these are generally wider than the industry average, particularly for major currency pairs.
Fee Breakdown:
- Spreads: Fortissio operates on fixed spreads, which can be higher than those offered by competitors. For example, spreads for EUR/USD pairs can be as high as 3 pips.
- Overnight fees: Fortissio charges swap fees for holding positions overnight.
- No deposit fees, but withdrawal fees are applicable depending on the payment method.
Fortissio Broker Platform Review
Fortissio’s primary trading platform is the PROfit platform, which is available both as a web-based platform and a mobile app. The platform offers a range of technical analysis tools, including charting options and indicators, but may lack the sophistication of industry-leading platforms like MetaTrader 4/5.
Fortissio Withdrawal Issues
A frequent concern raised by traders involves withdrawal delays. While Fortissio claims to process withdrawals within a few days, user feedback suggests that some traders experience longer processing times, especially during periods of high demand.
Key Points:
- Withdrawal fees vary depending on the payment method.
- KYC verification is required to complete withdrawals.
- Some users have reported delays in receiving funds.
Fortissio vs Other Brokers
When compared to other brokers, Fortissio lags behind in terms of platform sophistication and trading fees. However, it does provide a simpler platform for traders who prioritize ease of use over advanced trading features.
Fortissio vs Competitors:
- Fees: Fortissio’s fixed spreads are higher than those of brokers like eToro or Plus500.
- Platform: Fortissio’s PROfit platform is less advanced than MetaTrader, but it is user-friendly.
- Regulation: Fortissio is regulated by HCMC, whereas many leading brokers have broader regulatory oversight from organizations like FCA or CySEC.
Fortissio Mobile App Review
The PROfit mobile app allows users to access their trading accounts, manage open positions, and use a limited set of charting tools. The app is designed for traders who need on-the-go access, but some traders may find it lacks the depth of features seen in more comprehensive mobile platforms.
Fortissio Account Verification Process
To comply with KYC regulations, Fortissio requires all traders to complete an account verification process before they can deposit or withdraw funds. This process usually takes between 24-48 hours and involves providing proof of identity and residence.
Fortissio Customer Support Review
Fortissio offers customer support via email, live chat, and phone. However, user reviews indicate mixed experiences, with some traders citing slow response times and insufficient assistance.
Fortissio for Beginners
While Fortissio offers a relatively simple platform, the higher fees and limited platform functionality may not make it the best choice for beginner traders. Those new to trading may benefit more from brokers offering educational resources and lower trading fees.
Fortissio Leverage and Spreads
Fortissio offers leverage up to 1:30 for retail clients, in line with European regulations. The broker operates on a fixed spread model, which provides transparency but can result in higher costs for traders, especially on major currency pairs.
Fortissio Trading Tools and Platforms
While Fortissio provides the PROfit trading platform, it lacks more advanced tools found in platforms like MetaTrader 4 or MetaTrader 5. This may limit traders who rely on extensive charting and technical analysis tools.
FAQs
Yes, Fortissio is regulated by HCMC, ensuring some level of safety for its users. However, users should remain cautious and fully understand the broker’s terms and conditions before investing.
Fortissio charges fixed spreads, which are generally higher than industry standards. For example, spreads for EUR/USD pairs can be as high as 3 pips. The broker also charges overnight fees and withdrawal fees.
Withdrawals can sometimes be delayed, especially if the account is not fully verified. Users should ensure they complete the KYC verification process to avoid withdrawal issues.
Fortissio charges higher fees than most of its competitors and offers a less advanced trading platform. Traders seeking lower costs or more advanced tools might consider alternatives like eToro or Plus500.
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