Basic Information
Pros and Cons
Pros
- Long operation time
- Various contact channels
Cons
- No regulation
- No demo accounts
- Withdrawal issues reported
Is Fortune Safe and Legit?
Fortune Wealth Management Company India Pvt Ltd is registered in India and has been operational since 2006, offering trading on equities and derivatives via the NSE Mobile App and NOW platform. The broker provides no demo accounts and operates under a structure that lacks typical trading conditions such as leverage and spreads commonly found in forex trading.
Regulatory status for Fortune is concerning as it currently holds no valid forex regulation, making it a high-risk option for traders. This lack of oversight raises questions about its legality and safety in the financial market.
Market reputation for Fortune is mixed; users generally appreciate the quality of customer service and the informative nature of its website. However, feedback indicates challenges with withdrawal processes and a lack of transparency, leading to a noticeable frequency of complaints among users. Overall, community assessments suggest a cautious approach is advisable when considering this broker.
Is Fortune a Regulated Broker?
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Fortune Wealth Management Company India Pvt Ltd does not hold client funds in independently regulated bank accounts separate from the broker’s own assets. As the broker lacks valid forex regulation, there are no investor compensation funds or insurance schemes available to provide coverage to clients in the event of default.
Fortune Leverage
Fortune does not offer leverage as it operates under a structure that lacks typical trading conditions such as those found in forex trading. Consequently, there are no maximum leverage multiples available for any product category, aligning with its unregulated status.
Fortune Withdrawal Review
How to Contact Fortune?
Fortune Wealth Management Company India Pvt Ltd has received mixed reviews, particularly concerning withdrawal issues. Users frequently report challenges with the withdrawal process, contributing to a noticeable proportion of complaints. Credible sources for these complaints include online trading forums and review websites where users express their frustrations. The broker’s responses to these complaints have been described as inconsistent, with varying response times. There is a pattern of repetitive complaints regarding withdrawals, and while Fortune has not received any regulatory penalties, the absence of valid forex regulation heightens concerns about its operational practices. Overall, caution is advised due to the high-risk nature of trading with this broker.
Frequently Asked Questions
A1: Fortune Wealth Management Company India Pvt Ltd currently operates without any valid forex regulation, which raises significant concerns about its safety and legitimacy. This lack of oversight categorizes it as a high-risk option for traders, making it crucial for potential clients to be aware of the risks involved.
A2: Fortune Wealth Management Company India Pvt Ltd holds no regulated licenses and currently operates without any valid forex regulation. This absence of regulatory oversight is a major risk factor for traders considering this broker.
A3: Fortune Wealth Management does not hold client funds in independently regulated bank accounts, nor does it have investor compensation funds or insurance schemes in place. As a result, clients have no coverage in the event of default, heightening the risk associated with trading with this broker.
A4: Many users have reported challenges with the withdrawal process at Fortune, contributing to a noticeable number of complaints. The broker’s responses to these complaints have varied, leading to concerns about its operational practices and the overall reliability of its withdrawal systems.
A5: Fortune Wealth Management Company India Pvt Ltd offers several contact channels including a customer service email at info@fortunewmc.com and a phone number at +91 422-4334333. Their website also provides additional information for clients seeking support.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.
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