Fortune FX Review: Another Unregulated Platform

Fortune favors the brave, and Fortune FX takes away from investors. The platform will rip you off and pretend you were not even a member. Several complaints were lodged against FortuneFX by irate victims. Fortunefx.info duped these victims into believing it would lead them to financial freedom. Unfortunately, that was not the case; most of these victims are now ruing the decision to sign up. Here’s more in our conclusive FORTUNE FX REVIEW.

About Fortune FX

Fortune FX boasts of being a globally recognized brand on the about us page. But, we certainly haven’t heard about them. There’s only bad publicity when you research the platform’s online presence.

When dealing with forex, you need reliable tools to help foster growth. These tools include dependable forex trading robots. Use these robots to provide advanced tools and technical analysis tools for trading.

Fortune FX claims to have built a strong regulatory framework. Unfortunately, that’s not the case, as the platform holds no regulatory license. As a result, the core values posted on the homepage are missing from the platform’s basic services.

Having a platform that promises a free Dubai trip is worth signing up with for most investors. However, naïve investors will sign up just to promise a paid trip to Dubai. These are false claims meant to hike sign-ups.

After signing up, the platform will want you to deposit and enter the Dubai trip draw. Unfortunately, the winner is a guy you don’t know, and you end up depositing a huge chunk of money for nothing. So you need to know how to spot some of these red flags.

As an investor, your priority is to do some due diligence. Try and find out what others are saying about the platform before signing up. It will help you make an informed decision on what to expect with the platform.

Accounts Fortune FX

Fortune FX avails five account types to choose from. These include Starter, Expert, Pro, Prime, and AED Pro. Each of these accounts comes with a different set of features. The only similarity is the high leverage set at 1:500.

Here’s a closer look at each of the five accounts;

Starter

As the name suggests, the account is suitable for beginners. However, you have to make a minimum acceptable deposit of 1,000 to start trading. For all accounts, the margin and stop-out levels are 100 and 70 percent.

Expert

There’s a minimum acceptable deposit of $10,000 for the expert account holder. You don’t get any commissions with any of the accounts. The account offers EA as Hedging and swapping are possible.

Pro

For the pro account holder, there’s a minimum acceptable deposit of $25,000. In addition, the account offers IB Rebate and promises fast execution. There’s an unlimited number of maximum volume in lots of orders.

Prime

You have to deposit $50,000 to start trading with the prime account. The prime account shares the same account features as the pro accounts. However, you get an extra feature for debit card withdrawal options.

AED Pro

It’s the most exclusive account with the platform targeting institutional clients. There’s a minimum acceptable deposit of $100,000 with the account. Additionally, 300 is the maximum number of pending orders for all accounts listed.

Account features

We have to highlight two features blown out of proportion by the platform. These two include allowed minimum deposit and maximum leverage. Naïve investors shouldn’t have to deposit $1,000 for the starter account.

Regulators have issued a warning on platforms that go for an exaggerated minimum deposit. The acceptable minimum deposit is $250 in almost all jurisdictions. However, some regulated platforms go as low as $10.

High leverage is another issue we must raise with the platform. The maximum leverage is 1:500, which puts your investment and position at risk. Depending on your jurisdiction, maximum leverage is usually 1:100.

In the United States, where the platform claims to reside, maximum leverage is way below 1:500. Instead, retail traders enjoy maximum leverage of 1:50. The platform is contravening set standards set by regulators.

Affiliate and reward program

Once you refer a friend to the platform, you get two promises, $1,000 and a trip to Dubai. This is impossible as the platform only wants to take advantage of your connections. As a result, hundreds of affiliates have lost their reputation over this platform.

Before becoming an affiliate, you need to check whether the platform offers credible services. The platform in question will fail to pay commissions to affiliates. In addition, you won’t receive any conversion data from the platform.

The people you direct to sign up will point the finger at you. If these victims decide to take the platform to court, you’re in trouble. The court will see you as an accomplice to online fraud. You have been directing investors to invest in a non-existing platform.

Assets and trading instruments

Four trading assets are available on the platform; commodities, forex, indices, and stocks. You get to trade commodities such as coffee, cotton, crude oil, gold, natural gas, and wheat. These are mainly household commodities.

You also get to trade major and minor currency pairs with the platform. There’s little information regarding spreads of forex assets. Traders can trade in the international market stage via leading indices.

These indices include Dow Jones, FTSE, NASDAQ, S&P 500, and more. As a result, you get to learn how the international market affects prices on a global scale. It’s also a perfect way for day traders to earn.

The last trading asset belongs to a large class of company shares. You get to own a piece of a company for a limited time. The available shares include those from tech giants such as Apple and Microsoft.

Business owner

Information on who owns the platform remains a MYSTERY. Despite claiming to reside in New York, there’s no business registry of the platform. We sent someone to confirm the offices, and it turns out the building is under renovation.

You don’t get any information regarding staff members working for the platform. And this makes Fortune FX an anonymous forex investment platform. So it would be best if you stayed away from unknown investment options.

Contact and customer support

Despite claiming to offer live chat support, that’s not the case. The platform fails to provide any live communication lines. We also see a discrepancy at the footer of their homepage. The platform claims to have its staff headquarters in London.

We don’t understand why the phone number has a different area code with these two locations. The phone number suggests the user is in the United Arab Emirates. So yes, the +971 belongs to the UAE.

Deposit and withdrawal

We recommend that you don’t fund your account with the platform. There’s no way the platform allows members to withdraw funds. And that’s why we had to flag the platform as a scam. A legit platform will enable members to withdraw without any delays.

Fortune FX License and Regulation

Fortune FX is by far an unregistered investment platform. There’s no platform registry in the UK or the United States. We also didn’t find any registered platform under such a name in the UAE.

Fund safety Fortune FX

Your funds are far from safe with an unregulated platform.

Our verdict

Please stay away from anonymous and unregulated platforms such as fortunefx.info.

You need to invest in reliable forex trading robots that increase your skills.

If you have any queries, feel free to leave a comment or write to us.