ForTrade is a broker brand operated by legal entities licensed by various recognized regulators such as the UK FCA, the Cypriot CySEC, or the Australian ASIC. In addition, the ForTrade Group runs offshore entities in Belarus and Mauritius, as FinTelegram has already outlined. BaFin issued a warning against Invest365 and LLC Fort Securities BLR in March 2022. On March 16, 2022, BaFin updated the warning after discussions with ForTrade and outlined that ForTrade Group would not involved in the vanished Invest365 scam, but it would be a case of identity theft. Here is the update! Please notice!
ForTrade Key Data
| Brand | Fortrade Group |
| Related brands | Forex Time, FXTM, ForTrade, TorexFX, FX Trade Premium, GloryFT (disputed) Alpari (disputed) |
| Related domains | www.alpari.com, www.alpari.org, www.alpari-broker.ru, www.alpari.im (ForTrade denies Alpari connections) www.fxtm.com, www.fortrade.com, https://pro.fortrade.com, www.forextime.com, www.torexfx.com https://gloryft.com (disputed) |
| Related legal entities | Fortrade Cyprus Ltd (Cyprus), Fortrade Limited (UK), Fort Securities Israel Limited (Israel), Fort Securities Australia Pty. Ltd (Australia), ForTrade Canada Limited (Canada), FT Invest Ltd (Seychelles), , FT Global Services Ltd, Exinity Ltd (Mauritius), Exinity UK Ltd (UK), LLC “Fort Securities BLR” (Belarus) Alpari Limited (Russia), Alpari Limited (SVG), Alpari Evrasia LLC (Belarus), and counting |
| Jurisdictions | UK, Cyprus, Belarus, Russia, Israel, Seychelles, Mauritius, Canada, |
| Regulatory regimes | FCA, CySEC, FSA Seychelles, FSC Mauritius, Bank of Russia, National Bank of Belarus |
| Warnings | CNMV, FCA, BaFin |
Updated Narrative
Immediately after the BaFin update, ForTrade sent us another letter via email from the law firm Michael Kyprianou Advocates (www.kyprianou.com) and referred to the update. We were asked to inform our readers about the BaFin update and to amend our reports. We hereby do so.
The Invest365 broker scam like Russian GloryFT and FXTradePremium vanished already into the dark of the Internet.
Open Disputes
FinTelegram and ForTrade, however, still have a different view on the connection between the ForTrade Group and the Alpari Group and between the ForTrade Group and the now disappeared Russian broker GloryFT (report here). While ForTrade also claims identity theft with GloryFT we conducted tests (while GloryFT was still online) over several weeks. In doing so, we found that after registering with GloryFT, one was immediately redirected to the website of the CySEC-regulated ForTrade. In addition, we received a Russian welcome email from CySEC-regulated ForTrade. We have brought this to ForTrade’s attention and were still awaiting a response in this regard. FinTelegram will report on further developments.
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