Update 18 May 2022: According to an updated BaFin warning, ForTrade Group is not associated with the Invest365 broker scam but it would be a case of identity theft. Read our update report here.
Belarus is one of the allies of Vladimir Putin and Russia and the home of LLC Fort Securities BLR, which is one of the offshore brokers of the Fortrade Group. It is licensed by the National Bank of Belarus (NBRB) and used in the now-vanished FX Trade Premium. The UK FCA issued a warning against this illegal broker (report here). Recently, the German BaFin has announced an investigation against this Belarusian entity and its now-vanished Invest365. Amid the Russian invasion in Ukraine, ForTrade transfers its Belarus activities to Fortrade Mauritius Ltd, the group informed today via email.
Key data
| Brand | Fortrade Group |
| Related brands | Alpari, Forex Time, FXTM, ForTrade, GloryFT, TorexFX, FX Trade Premium, |
| Related domains | www.alpari.com, www.alpari.org, www.alpari-broker.ru, www.alpari.im, www.fxtm.com, www.fortrade.com, https://pro.fortrade.com, www.forextime.com, https://gloryft.com, www.torexfx.com |
| 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), Alpari Evrasia LLC (Belarus), Alpari Limited (SVG), FT Invest Ltd (Seychelles), Alpari Limited (Russia), FT Global Services Ltd, Exinity Ltd (Mauritius), Exinity UK Ltd (UK), LLC “Fort Securities BLR” 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 |
Fortrade offshore transfers
Amid the Ukraine War, CySEC– and FCA-regulated Fortrade Group informed its offshore clients that in “light of the rapidly changing situation in the region, we have determined it is prudent to transition your account from LLC Fort Securities BLR under NBRB regulation to Fortrade Mauritius Ltd. under FSC regulation.“
On 2 March 2022, Fortrade will begin transitioning its LLC Fort Securities BLR client accounts to Fortrade Mauritius Ltd. Allegedly, Fortrade Mauritius offers better leverage and margins.
Here can read the new Fortrade Mauritius Ltd. Client Agreement.
After BaFin’s warning, ForTrade made its illegal broker Invest365 disappear. However, the offshore brokers of the ForTrade Group continue to address consumers in the UK and Europe. Offshore onboarding is a typical approach with FCA and CySEC regulated groups like Vantage, IC Markets, BDSwiss, or OctaFX. It would be best if you did not use these offshore brokers. You are not entitled to investor compensation schemes or ombudsman services. Please read our warning here.
