FinTelegram has reported several times about the FCA and CySEC regulated ForTrade Group in recent weeks. There is currently a discussion between FinTelegram and ForTrade if and to what extent the regulated investment firm may have been connected to, for example, the vanished Russian broker GloryFT. ForTrade claims to have no connection with it. However, it is certain that the broker scam ForTrades is just a clone using the ForTrade logo without reauthorization to trap clients. The FCA has issued a warning against this ForTrades clone.
Key Data
| Trading name | Fortrades |
| Illegal clone of | Fortrade |
| Domain | https://fortradeltd.com |
| Legal entity | Fortraded Limited (fake) |
| Exposed BTC wallet | 1FXRL16YGj2z82qY9UxbHUKwoffHFMVrjk |
| Warning | FCA |
Short Scam Narrative
Scam Fortrades broker describes itself on the website as a “Revolutionary Money Making Platform.” Well, that may be true for the scammers that steal the money from their victims. Using the logo of FCA- and CySEC-regulated Fortrade evidently pays off. We detected 50 transactions on one Bitcoin (BTC) wallet, so victims are actually paying in. And we are sure, that there are many other wallets. The broker scam only accepts BTC deposits. Stay very far away. Save yourself financial losses and the misuse of their data.
