Fortissio Review

fortissio.com in short

Fortissio is a trading name of Vie Finance A.E.P.E.Y. S.A., which is licensed and regulated by the Hellenic Capital Market Commission (HCMC). Customers can trade more than 130 instruments such as currency pairs, commodities, indices, and shares through its own web-based terminal called PROfit. You can start trading with Fortissio by investing EUR200.

Regulation

One of the things you need to do before opening an account is to check the regulation of the brokerage company. Fortissio is a brand name of Vie Finance A.E.P.E.Y, S.A., a registered Greek Investment Firm, authorized and licensed by the Hellenic Capital Market Commission (HCMC) under license number 4/792/20.7.2017. The company complies with EU and local regulations such as the European Markets in Financial Instruments Directive II (MiFID II). The company is a member of the Investor Compensation Fund (ICF), a scheme that serves to protect retail customers by paying compensation in the event of default.

Account Types

The company provides 9 types of retail accounts that differ in the initial amount of the deposit and the offered spreads (here this is described as a price discount).

Basic Account – This account requires a deposit of between EUR200 and EUR1,999. The spread for the EUR/USD pair has no discount and is 3 pips. You do not have access to BITA synthetic derivative CFDs.

Discovery Account – You can open this type of account if you deposit between EUR2,000 and EUR4,999. Spreads and Rollovers have a discount of 5%. You can trade some of the BITA synthetic derivative CFDs.

Silver Account – The minimum deposit is between EUR5,000 and EUR9,999. Spreads and Rollovers have a discount of 10%. You can trade some of the BITA synthetic derivative CFDs.

Gold Account – The minimum deposit is between EUR10,000 and EUR14,999. Spreads and Rollovers have a discount of 15%. You can trade almost all the BITA synthetic derivative CFDs.

Diamond Account – The minimum deposit is between EUR15,000 and EUR29,999. Spreads and Rollovers have a discount of 20%. You receive a personal customer service agent. Almost all the BITA synthetic derivative CFDs are available for trading.

VIP Account – You must invest between EUR30,000 and EUR49,999 to open this type of account. Spreads and Rollovers have a discount of 25%. You receive a personal customer service agent. All the BITA synthetic derivative CFDs are available for trading.

Prestige Account – The minimum deposit amount is between EUR50,000 and EUR74,999 to open this type of account. Spreads and Rollovers have a discount of 30%. You receive a personal customer service agent. All the BITA synthetic derivative CFDs are available for trading.

Superior Account – You must invest between EUR75,000 and EUR99,999 to open this type of account. Spreads and Rollovers have a discount of 35%. You receive a personal customer service agent. All the BITA synthetic derivative CFDs are available for trading.

Infinity Account – If you deposit more than EUR100,000, you can open this account. Spreads and Rollovers have a discount of 40%. You receive a personal customer service agent. All the BITA synthetic derivative CFDs are available for trading.

What Type of Brokerage the Company is?

The Order Execution Policy file informs that the company acts as an agent and not as a principal on the client’s behalf. The counterparty (or principal) to every trade is always Depaho Ltd (Cyprus Investment Firm, regulated by CySEC under license number 161/11). Therefore, the company’s sole execution venue for the execution of clients’ orders for financial Instruments is Depaho Ltd. This means Fortissio uses the Straight Through Processing (STP) execution model and is not a market maker. Acting as an agent, the company transmits the orders of each customer to its liquidity provider and this eliminates the main conflict of interest related to the customer’s losses. The company earns money only from the spread, commissions, and traded volume.

There is a text that warns of slippage when trading CFDs. Slippage is the difference between the expected price of an order, and the price the order is executed at. When slippage occurs, orders will be executed at a different than requested price. It is noted that slippage can occur also during stop loss, take profit and other types of orders, which confirms that orders will be executed at the next best available market price. This means that the stop loss orders are not guaranteed.

The same document informs that the company shall provide retail clients with Negative Balance Protection so that they will not lose more than the total sum invested. There can be no residual loss or obligation to provide additional funds beyond those in the client’s account.

Fees

In addition to usual fees such as spreads, commissions, and rollovers, there is also an inactivity fee. In case of absence of any trading activity for a period of three months, the client’s account becomes inactive. The company reserves the right to apply an administrative fee of EUR150 to maintain the trading account. This administrative fee will be applied on a quarterly basis until the account balance becomes zero.

In the event of an inactive trading account for more than one year, the company will terminate the agreement.

Deposits and Withdrawals

Deposits can be completed by bank transfer, credit/debit cards or by e-wallets such as Neteller, Skrill and Klarna. All payment and transfer charges of third parties will be borne by clients and the company will debit the relevant trading account for these charges.

Withdrawals are credited back to the customer’s account via the initial method of deposit. For example, if the initial deposit was made by credit card, then the withdrawal is credited to that same credit card. Withdrawal requests are processed within one business day. The time required to transfer funds will vary depending on the method of payment. The company informs that the client agrees to pay any incurred bank or other third-party payment services provider’s transfer fees when withdrawing funds from the client’s trading account to his designated bank account.

Trading Platforms

Vie Finance has developed its own trading platform, called PROfit. The company describes it as a powerful and flexible terminal with a friendly interface, suitable for both beginners and experienced traders. It provides all the tools needed for trading including daily news and analysis. The platform is web-based and does not require any additional software to be downloaded. More than 200 assets are available on it.

Assets

Forex – You can trade 40 major, minor, and exotic currency pairs. The average spread for the EUR/USD pair depends on the account type and is 3 pips for the Basic account.

Indices – 27 indices are available for trading and the average spread for DAX30 is 5 points and for the DJIA is 35 points.

Commodities – More than 20 CFDs on commodities are available for trading. They include 9 precious metals (Gold, Silver, Platinum, etc.) and 3 energy products (Crude Oil, Brent Oil and Natural Gas) and 10 agricultural commodities. The average spread for the Gold is USD1 and for the Crude Oil is USD0.06.

Shares – 170 CFDs on shares of global companies are available for trading. The average spread for the shares of Apple is USD0.22 and for the shares of Google it is USD5.30.

Cryptocurrencies – CFDs on 5 cryptocurrencies are available for trading. They include Bitcoin, Ethereum, Ripple, Litecoin, Dash and Monero. The spread for Bitcoin is USD780.

Market Tools

There is an additional section on the website called “Market Tools”. Here you can use the Autochartist feature, which analyses chart patterns and automatically forecast price movement with support and resistance levels. This section also contains an economic calendar and market news provided by third parties.

Summary

Fortissio is a brand of an HCMC-regulated brokerage company that uses the STP execution model and provides negative balance protection for its retail clients. The company offers its own trading platform, available as a web version and as a mobile app. There are many accounts and instruments available. You can start trading with EUR200 but trading conditions are less competitive, and you must invest a relatively high initial deposit amount to receive decent spreads.