Overview of FORTUNE
FORTUNE, founded in China, is a trading platform offering a wide range of assets, including equities, forex, commodities, indices, and derivatives. The platform provides advantages such as various payment methods, multiple account types, and leverage up to 1:500.
However, its unregulated status raises considerations about compliance and oversight. Users have noted concerns, including increasing minimum deposits with account types and complaints about missing orders without clear resolution. While FORTUNE serves a global audience, its foundation in China and regulatory status contribute to a nuanced evaluation of its suitability for traders based on individual preferences and risk tolerance.
Is FORTUNE legit or a scam？
FORTUNE operates without regulatory oversight from any authority.
The absence of regulatory constraints on the platform implies that traders utilizing FORTUNE are not subject to the established frameworks and safeguards typically enforced by regulatory bodies.
This lack of oversight could potentially expose traders to higher levels of risk, as the platform may not adhere to industry standards and compliance measures. Without regulatory supervision, traders may face challenges in assessing the platform's transparency, security, and fair trading practices.
Pros and Cons
Pros:
Various trading assets: FORTUNE offers a wide range of trading assets, including equities, forex, commodities, indices, and derivatives. This provides traders with a wide array of options to diversify their portfolios and engage in different markets.
Various Payment Methods: The platform supports various payment methods, including major credit and debit cards (like Visa and Mastercard), bank transfers, e-wallets (such as Skrill and Neteller), and limited cryptocurrency options. This flexibility in payment methods allows users to choose options that suit their preferences and convenience.
Multiple Account Types: FORTUNE provides multiple account types, each serving different trading preferences. This variety allows users to select an account type that aligns with their specific needs, whether it's lower minimum deposits, personalized account management, or direct market access.
Leverage up to 1:500: The platform offers leverage options, allowing traders to amplify their market exposure. With leverage up to 1:500, users can potentially enhance their trading capabilities and manage larger positions with a relatively smaller amount of capital.
Personal Account Manager: Traders on certain account types, such as VIP, benefit from the assistance of a personal account manager. This feature adds a personalized touch to the trading experience, providing users with dedicated support and guidance.
Cons:
Unregulated: FORTUNE operates without regulatory oversight, which can raise concerns about the platform's adherence to industry standards and the absence of established safeguards. The lack of regulation may impact the level of trust and confidence users place in the platform.
Minimum deposits increase with account type: While FORTUNE offers multiple account types, it's important to note that the minimum deposit requirements increase with each account type. This may limit accessibility for some traders, especially those with smaller capital.
User complaints about missing orders: There have been user complaints about missing orders without apparent resolution. This issue raises concerns about the platform's reliability and the effectiveness of its customer support in addressing and resolving trading-related issues.
Market Instruments
Fortune is a trading platform offering access to various financial instruments for its users. The platform features the following categories of tradable assets:
Equities: Fortune provides trading in stocks of companies listed on major global exchanges. This includes blue-chip corporations, emerging market players, and small-cap stocks.
Currency Pairs: Users can speculate on foreign exchange markets through trading currency pairs. The platform offers major forex pairs like EUR/USD, GBP/USD, and USD/JPY, alongside a selection of exotic pairs.
Commodities: Fortune facilitates trading in a range of commodities, including precious metals like gold and silver, energy products like oil and natural gas, and agricultural commodities like wheat and corn.
Indices: The platform allows users to trade contracts based on the performance of major stock market indices, such as the S&P 500, NASDAQ Composite, and Nikkei 225.
Derivatives: Fortune offers contracts for difference (CFDs) on various underlying assets, allowing users to leverage their positions and potentially amplify returns. However, it's important to note that CFDs involve significant risk due to their leveraged nature.
Account Types
Fortune provides three different account types-Standard account, VIP account and ECN account
The Standard account type offers leverage of up to 1:400, with variable spreads starting from 0.9 pips. Traders opting for this account can benefit from a relatively lower minimum deposit requirement of $100. However, this account type does not come with specific additional features.
For users seeking a more personalized experience, the VIP account meets their needs. With leverage reaching up to 1:500, this account type offers a personal account manager to assist traders. While providing potentially tighter spreads, it requires a higher minimum deposit of $500.
The ECN account is tailored for traders who prioritize direct market access and faster execution. With leverage up to 1:200, this account type features tighter spreads from 0.5 pips. Traders using the ECN account are subject to a commission based on their traded volume, and the minimum deposit requirement is set at $1,000.
How to Open an Account？
Registration Process:
Visit the official FORTUNE website and locate the “Sign Up” button.
Fill in the required information accurately, including personal details, contact information, and a secure password.
Agree to the terms and conditions provided by FORTUNE and proceed to the next step.
2. Account Verification:
Upon successful registration, submit the necessary documents for identity verification. This typically includes a government-issued ID, proof of address, and any additional documents requested by FORTUNE.
Wait for the verification process to be completed by the platform's team. This step is crucial to ensure compliance with regulatory standards and secure your account.
3. Deposit Funds and Start Trading:
Once your account is verified, log in to your FORTUNE account.
Navigate to the deposit section and choose a suitable payment method. Transfer the desired funds to your trading account.
With the funds deposited, you can now explore the platform, select your preferred trading account type, and start engaging in the financial markets offered by FORTUNE.
Leverage
FORTUNE offers a maximum leverage that varies based on the chosen account type.
The Standard account provides a maximum leverage of up to 1:400, allowing traders to amplify their market exposure.
For those opting for the VIP account, the maximum leverage is increased to up to 1:500, providing a higher degree of leverage for enhanced trading flexibility.
The ECN account type with direct market access, offers a maximum leverage of up to 1:200.
Spreads & Commissions
FORTUNE imposes varied spreads and commissions across its different account types.
The Standard account type features variable spreads starting from 0.9 pips, accompanied by a commission of $5 per round turn for forex and variable rates for other instruments.
In contrast, the VIP account offers potentially wider spreads, but it does not involve any commission charges. Traders considering the VIP account may find the absence of commissions advantageous, especially if they prioritize a fee-free trading experience.
On the other hand, the ECN account, with direct market access and faster execution, presents tighter spreads from 0.5 pips, coupled with a commission structure based on traded volume. While the ECN account involves a commission, traders seeking superior execution speed and tighter spreads may find it suitable for their specific needs.
Trading Platform
FORTUNE's proprietary trading platform, crafted in-house, is accessible through both web and mobile applications.
In addition to standard functionalities like order placement, chart analysis, and account management, the platform introduces exclusive features for certain account types. Traders opting for the VIP and ECN accounts can leverage the assistance of a personal account manager, providing them with a dedicated point of contact for guidance and support. This personalized service adds an extra layer of assistance, suitable for users who value individualized attention in their trading journey.
Furthermore, the platform emphasizes direct market access, promoting faster execution of trades. This feature is particularly advantageous for users on the ECN account type, as it facilitates swift and efficient access to the market.
Deposit & Withdrawal
FORTUNE offers a variety of payment methods to facilitate deposits for its users.
Credit and debit cards, including major ones like Visa and Mastercard, are accepted, allowing for instant deposits, though fees may apply.
Bank transfers are also an option, enabling users to wire funds directly to the platform's bank account; however, processing times for bank transfers can extend up to 5 business days.
Additionally, the platform supports certain e-wallets, such as Skrill and Neteller, although their acceptance may vary based on the user's region and account type.
In terms of cryptocurrency support, FORTUNE provides limited backing for select cryptocurrencies like Bitcoin and Ethereum. Traders are advised to verify the current cryptocurrency options with Fortune Valuable Limited to ensure accurate and up-to-date information on supported digital assets.
Considering the different account types, FORTUNE imposes varying minimum deposit requirements. The Standard account requires a minimum deposit of $100, making it accessible to a broader range of traders.
The VIP account, with potentially tighter spreads and no commission charges, necessitates a higher minimum deposit of $500.
The ECN account with direct market access and tighter spreads from 0.5 pips, mandates a minimum deposit of $1,000.
Customer Support
Customer support at FORTUNE, reachable through cs@fortunevaltd.com, has garnered negative feedback.
Users have expressed dissatisfaction with the support team's responsiveness and effectiveness in addressing issues. Numerous reports highlight instances where customers faced challenges, such as missing orders and trade execution problems, only to find that customer support was unhelpful in resolving these issues. The lack of satisfactory assistance has contributed to a perception of poor customer service, diminishing users' confidence in FORTUNE's ability to provide reliable and efficient support for their trading concerns.
Exposure
Users on the FORTUNE platform have reported a concerning exposure to operational challenges, including multiple instances of missing orders without apparent resolution.
Traders have encountered difficulties in locating these missing orders, leading to a lack of clarity and transparency in trade execution. Upon reviewing trade history in the management portal, users discovered that some trades were never executed, contributing to an overall sense of frustration and dissatisfaction. The platform's performance issues extend to the closure of deals, with significant hurdles arising, particularly when dealing with large volumes, as constant re-quoting disrupts the trading process. This unfavorable experience with service reliability may significantly impact users' confidence in the platform, potentially influencing their decision to continue trading on FORTUNE.
Conclusion
In conclusion, FORTUNE, established in China, presents traders with a wide array of market instruments, including equities, forex, commodities, indices, and derivatives.
The platform offers advantages such as various payment methods, multiple account types, and leverage options up to 1:500.
However, its unregulated status poses potential drawbacks, as regulatory oversight is absent, raising concerns about transparency and user protection. Additionally, users have reported issues, including increasing minimum deposits with account types and complaints about missing orders without clear resolution.
FAQs
Q: What payment methods does FORTUNE accept？
A: FORTUNE accepts major credit and debit cards, bank transfers, select e-wallets like Skrill and Neteller, and limited support for cryptocurrencies.
Q: What is the minimum deposit required for a Standard account？
A: The minimum deposit for a Standard account on FORTUNE is $100.
Q: Is FORTUNE regulated by any authorities？
A: No, FORTUNE operates without regulatory oversight.
Q: What is the maximum leverage offered by FORTUNE for a VIP account？
A: The maximum leverage for a VIP account is up to 1:500.
2024-01-08 01:21
