Fortissio is a foreign exchange broker located in Greece and is licensed and regulated by HCMC (Hellenic Capital Market Commission). They offer 5 reasons as to why someone would want to trade with them which include their PROfit trading platform which they claim to be a leading platform in the industry, their customer service which is dedicated and always accessible, and they are fully regulated as mentioned above. They also offer market tools to help with your analysis and trading and finally, you can choose to trade over 130 different instruments. We will be using this review to help you decide if they are the right broker to sue by looking in detail into the services that are being offered by Fortissio.
Account Types
There is a selection of six different account s available from Fortissio, they each have varying features that we will briefly outline below.
Basic Account: This account requires a deposit between €200 and €1,999. It comes with access to a free ebook, free training, one-click trading and pop up alerts.
Discovery Account: This account requires a deposit of between €2,000 and €4,999. It comes with access to a free ebook, free training, one-click trading, pop-up alerts, a price discount of 5% and a rollover discount of 5%.
Silver Account: This account requires a deposit of between €5,000 and €9,999. It comes with access to a free ebook, free training, one-click trading, pop-up alerts, a price discount of 10% and a rollover discount of 10%. It also comes with access to trading central for one month.
Gold Account: This account requires a deposit of between €10,000 and €14,999. It comes with access to a free ebook, free training, one-click trading, pop-up alerts, a price discount of 15% and a rollover discount of 15%. It also comes with access to trading central for two months.
Diamond Account: This account requires a deposit of between €15,000 and €29,999. It comes with access to a free ebook, free training, one-click trading, pop-up alerts, a price discount of 20% and a rollover discount of 20%. It also comes with access to trading central for three months as well as a personal customer service agent.
VIP Account: This account requires a deposit of €30,000 or more and is the top tier account. It comes with access to a free ebook, free training, one-click trading, pop-up alerts, a price discount of 25% and a rollover discount of 25%. It also comes with access to trading central for three months as well as a personal customer service agent.
Platforms
Fortissio uses its own trading platform. While we do not have any hands-on experience with using it, we do know that some of its features include it being web-only so there is no download required, over 150 tradable instruments, available in 6 languages, offers daily market updates, has in-platform support, is fully customizable, available as both a web platform and a mobile platform, and it also provided analysis and alerts.
Leverage
Fortissio follows the recommendations from ESMA, so the following restrictions are in place.
Leverage limits on the opening of a position by a retail client from 30:1 to 2:1, which vary according to the volatility of the underlying:
- 30:1 for major currency pairs
- 20:1 for non-major currency pairs, gold, and major indices
- 10:1 for commodities other than gold and non-major equity indices
- 5:1 for individual equities and other reference values
- 2:1 for cryptocurrencies
If you are considered a professional-client then the maximum leverage increases up to 1:200 as a new maximum.
Trade Sizes
The minimum trade size is 1,000 units which are the same as a micro lot or 0.01 lots. Trades then go up in increments of 0.01 lots so the next trade is 0.02 (2,000 units) lots and then 0.03 lots (3,000 units). We do not know what the maximum trade size is or how many open traded you can have at any one time.
Trading Costs
There are no added commissions when trading with Fortissio. Instead, all accounts use a spread based system that we will look at later in this review. The accounts are charged with swap fees though, these are charges for holding trades overnight they can be both positive or negative and can be viewed from within the trading platform you are using.
Assets
The assets have been broken down into a number of different categories, we have outlined them below along with the available instruments.
Forex: AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, UERJPY, EURNOK, EURNZD, EURPLN, EURRUB, EURTRY, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPTRY, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, TRYJPY, USDCAD, USDCHF, USDJPY, USDMXN, USDNOK, USDPLN, USDRUB, USDSGD, USDTRY, USDZAR.
Metals: Gold and Silver.
Commodities: Aluminum, Palladium, Coffee, Corn, Wheat, Cotton, Sugar, Soybean, Brent oil, Copper, Platinum, USDNDX, Crude Oil.
EFTs: iShares iBoxx and QQQ.
Indices: CAC 40, DAX INDEX, DOW JONES, FTSE 100, NASDAQ, NIKKEI, S&P 500, IBEX 35, WIG20.
Stocks: Apple, Amazon, Boeing, Walt Disney, eBay, Google, Intel, Coca Cola, McDonald’s, Microsoft, Pfizer, and more.
Spreads
The spreads seem to be starting from around 3 pips, and this is relatively high as the spreads are variable. With added volatility in the markets, they will often be seen even higher than 3 pips. Different instruments also have different spreads so while some may start at 3 pips, others may start at 5 pips.
Minimum Deposit
The minimum deposit required to open up an account is 200 EUR. This will allow you to use the Basic account. You will need to deposit more in order to access one of the higher tier accounts.
Deposit Methods & Costs
In order to get the full breakdown of deposit methods, you will need to have an account. The methods that we do know are available include Visa/MasterCard, Bank Wire Transfer, Maestro, Skrill, Neteller, ecoPayz, and Klarna. There may be more, but those are the ones we know of. Fortissio does not add any fees or charges to the deposits. However, you should check with your own bank just to see if they add any transfer fees of their own.
Withdrawal Methods & Costs
The same methods should be available to use as withdrawal methods. For clarification, these are Visa/MasterCard, Bank Wire Transfer, Maestro, Skrill, Neteller, ecoPayz, and Klarna. Once again, there are no added fees from Fortissio, but be sure to check with your bank or processor to see if they add any processing fees of their own.
Withdrawal Processing & Wait Time
Fortissio will process withdrawal requests within 24 hours of the request being made. The amount of time it takes after this will depend on the method used but should be fully processed between 1 to 5 days from the time Fortissio process the request.
Bonuses & Promotions
While there aren’t any specific bonuses or promotions, you are able to get a price discount of up to 25% as well as a rollover (swap fee) discount of up to 25%. If you are interested in bonuses, then you could always contact the customer service team to see if they have anything available or if something will be coming up in the future that you could take part in.
Educational & Trading Tools
There are a few different tools and services that you could take advantage of from Fortissio. The first is some market analysis, but the issue is that it is updated infrequently, once every few weeks but it provides some insight into where an expert thinks the markets could move. There is also a chart section, but it is not currently showing any actual charts. There is also an economic calendar that is detailing different news events that are coming p and also indicates any effect that they could have on the markets. The market news sections updated daily and give you information on recent news events. Finally, there is an SMS service where you can get SMS alerts for news and prices.
Customer Service
You can contact Fortissio using an online submission form. Simply fill it in and you should get a reply via email. They have also provided you with a postal address, phone number and a number of different email addresses for the company, complaints, information, dealing, international contact and customer services.
Address: 4, 28th October Street, Marousi, Greece.
Email: [email protected]
Phone: +302112340925
The customer service team is available Monday to Friday from 07:00 to 19:00 GMT.
Demo Account
Demo accounts allow you to test out the trading conditions and new strategies without risking any of your own capital, so it is quite an important aspect of a forex broker. As such, it is strange to us that they do not seem to be available from Fortissio. This is something that Fortissio should really look at adding to their available services as many traders wish to test things out before joining.
Countries Accepted
This information is not present on the site so if you are thinking of joining up then we would recommend contacting the customer service team first just to be sure that you are eligible to trade with them.
Conclusion
Fortissio offers a lot when it comes to account choice, but there isn’t a huge difference between them, mainly just a discount on swap fees. They follow the ESMA recommendations so the leverage for retail clients is very low when comparing to other brokers who do not. Spreads are also a little on the high side, starting at 3 pips, as they are variable when there is volatility in the markets it can become very expensive to trade. Plenty of ways to deposit and withdraw with no added fees is positive as is the large number of ways to contact different departments for support.
You now have all the information you need to decide if Fortissio is the right broker for you. If not, then be sure to check out some of the other Forex broker reviews that we offer to help find the perfect one for you.
