FORTUNE FX -Overview of Minimum Deposit, Leverage, Spreads
Abstract：Registered in the United Kingdom, Fortune FX presents itself as an online forex broker offering its clients easy access to multiple financial markets. FX Tray claims that it offers five types of accounts, with the minimum deposit of $100, leverage up to 1：500.
General Information
Registered in the United Kingdom, Fortune FX presents itself as an online forex broker offering its clients easy access to multiple financial markets. FX Tray claims that it offers five types of accounts, with the minimum deposit of $100, leverage up to 1：500.
Is Fortune FX safe to trade with？
Fortune FX has let us down when it comes to enforcing rules and regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In light of this lack of licensing, WikiFX has assigned it a regulatory status of “No License” and an overall quality rating of 1.25 out of 10.
Bear in mind that trading with an unregulated forex broker is a surefire way to lose your money. Before making any choice, investors are advised to check out a forex brokers regulatory status on WikiFX.
Market Instruments
Three classes of trading assets are available with the Fortune FX trading platform, which include Forex, Commodities, and CFD products.
Account Types
Five trading accounts are available with the Fortune FX Platforms, namely Starter, Expert, Pro, Prime and AED PRO.
To open a basic account, the Bronze account, an acceptable minimum deposit of Starter is enough. However, the minimum deposits required by other four accounts are absurdly high, with the Expert account from $10,000, the Pro account from $25,000, the Prime account from $50,000 and the AED PRO account from $100,000.
In this case, it appears that the broker is ready to withdraw investors' deposited funds at the very first opportunity and then disappears.
How to get started trading with Fortune FX？
Opening an account and start trading with Fortune FX is an easy and simple process, with a few steps listed below:
1. Click the “Open Real Account” link, fill in the required information in the register account form.
2. Inject funds to your trading account using your preferable payment options.
3. Begin to trade with this brokerage house
Spreads & Commissions
Fortune FX offers a commission-free trading environment, and spreads are determined by trading accounts.
Leverage
When it comes to leverage, Fortune FX permits traders to use leverage of up to 1:500, which is significantly higher than the levels regarded appropriate by many regulators.
Don't assume that high leverage is always beneficial; it can magnify both your wins and your
losses.
Trading Platform
Fortune FX provides the advanced MetaTrader 5 trading platform that can be accessed on any device, Windows, Android and IOS.
MT5 is a multi-asset platform that supports trading forex, crypto, stocks, indices, and commodities, and it features powerful tools for extensive price analysis, fundamentals & technical analysis, copy trading and use of algorithmic trading applications.
Trading Tools
Aside from the MT5 trading platform, some trading tools are also available, including Economic Calendar, Market News and more.
Payment Methods
The minimum deposit and withdrawal amount is both $100 and Fortune FX allows its clients to make a deposit and withdrawal through multiple payment options, such as VISA, MasterCard, Bank Transfer, Neteller, Skrill,
Concerning service fees for deposit, deposits through Skril, MasterCard, VISA, charge a fee of 6%, $100 through MasterCard.
As for withdrawal fees, withdrawals through Neteller, Skrill, MasterCard and VISA charge no fees, and a certain amount of bank fees is charged through Bank Transfer, 100 charged through MasterCard.
Processing time varies depending on various payment methods.
Customer Support
Traders can reach out to Fortune FX about any questions or concerns they may have about their accounts or their trading through the following methods:
Online Chat
Email: info@fortunefx.com
Registered Company Address: 71-75 SHELTON STREET, LONDON, GREATER LONDON, UNITED KINGDOM WC2H 9JQ,
Or you can keep up with this broker on some social media platforms, such as Facebook, Instagram, Twitter and Linkedin, Youtube, Telegram, and more.
Risk Warning
Forex and CFD are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when forex and CFD trading with this provider. You should consider whether you can afford to take the high risk of losing your money.
The information presented in this article is intended solely for reference purposes.
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