Unregulated

Comment

Saint Lucia

2023-08-06

2.17

Website

https://fortunomarkets.com

Rating Index

Software

5.21

Licensed

1.25

Risk Control

1.2

Experience

4.87

Institution

1.25

Industry Classification

Unqualified

Trading Platforms

Proprietary platform

Basic Information

Registered Region

Saint Lucia
Operation Status

Abnormal
Operating Period

2023-08-06
Deposit Methods

Bank Transfer, USDT, e-wallets
Website

https://fortunomarkets.com
Market Type

Foreign exchange
Support Languges

English
Main Business

Forex, commodities, stocks, indices, CFDs
Business Type

Multi-asset broker
Social Media
Contact Details

support@fortunomarkets.com
Type of Accounts

Premium, Standard
Trading Platforms

Proprietary platform
Withdraw Methods

Bank Transfer
Auto Trading

CopyTrade available

Pros and Cons

**Pros:** Competitive spreads, various trading instruments, low minimum deposit of $10, offers copy trading, and features a mobile trading platform. **Cons:** High leverage of up to 1:2000, multiple user complaints about withdrawal difficulties, the absence of well-known trading platforms like MT4 or MT5, and a lack of a demo account option, which may deter beginner traders.

Company Background

Fortuno Markets was established on August 6, 2023, and is registered in Saint Lucia. The broker operates under Fortuno Markets Ltd, focusing on providing multi-asset trading opportunities, including CFDs on forex, commodities, stocks, and cryptocurrencies. Despite being relatively new, they claim to offer competitive trading conditions and flexible account types. However, the broker has garnered negative attention due to unresolved complaints from clients and questions about their credibility based on a low rating of 2.01 out of 10.

Fund Security

The broker claims to have some fund security measures in place; however, there are alarming reports regarding user experiences, including issues with withdrawals and deposit disputes. The regulatory status is marked as "Exceeded," indicating that it may not be fully compliant with regulatory requirements. There is no mention of compensation schemes or significant insurance coverage, raising concerns about potential risks involved for traders.

Account Opening

Fortuno Markets offers two account types: Premium and Standard. The minimum deposit required for both accounts is $10. The account opening process generally involves providing personal information and potentially verifying identity, although specific details are not disclosed. The broker does not offer demo accounts, which may limit the opportunity for potential clients to practice trading before investing real capital.

Trading Fees

While Fortuno Markets advertises zero commissions, it does specify spreads starting from ultra-low levels, although exact figures are not explicitly listed. Users should be aware of other potential costs, such as inactivity fees, if applicable, though such fees aren't disclosed in detail. Important information on withdrawal fees also indicates no charges under typical conditions, but client reports suggest otherwise.

Trading Instruments

Fortuno Markets provides access to over 300 instruments across multiple asset classes, including major and exotic forex pairs, a variety of commodities, and a range of cryptocurrencies. Examples include major currency pairs like EUR/USD and popular commodities such as gold and oil. The offering can appeal to diverse trading strategies, but the absence of mutual funds and shares is notable.

Trading Technology

The broker utilizes a proprietary trading platform available on Android devices. Specific features of the platform include basic charting tools and functionality for executing trades. However, the absence of more robust platforms like MT4 or MT5 could limit advanced trading strategies and automated trading options. Customers report varied experiences with speed and technical reliability.

Research and Education

Educational resources and research tools offered by Fortuno Markets are minimal. There is no comprehensive training or seminars mentioned, such as webinars or tutorials, which typically assist traders in developing their skills. This could hinder less experienced traders from getting necessary market insights and effectively leveraging the available instruments.

Customer Support

Customer support is primarily accessible via email at support@fortunomarkets.com and through Telegram. However, there is no live chat service available. This may lead to slower response times, and client reviews indicate dissatisfaction concerning the support provided, especially leakage in communication regarding withdrawals and critical trading issues.

0 Comments

Share your thoughts Showing 6 of 0 reviews

Leave a Comment

You can fill in your answer in the dialog box below.

Submit

Licenses

Frequently Asked Questions

You can learn more about us faster and better through our FAQs, and find the answers you need below.

Rating Index

Fortuno Markets

Unregulated

Legal Environment

5.21

License Value

1.25

Risk Management

1.2

Investor Protection

4.87

Regulatory Policy

1.25

Software

Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.
Institution

Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.
Licensed

Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.
Risk Control

Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.
Investor Protection

Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

Broker Ranking List

The Database of FXKNOWS comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. FXKNOWS doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. FXKNOWS will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by FXKNOWS are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

Special Note, the content of the FXKNOWS site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with FXKNOWS, the client should bear full responsibility for their consequences.