Think of trading with Fortunesea.org platform? Really want to find more details before choosing the broker? You can carefully read the Fortunesea reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Fortunesea?
Fortunesea FX otherwise known as Fortunesea.org is an offshore brokerage with a lot of promises for forex traders. The forex company operates with no registered address, nor a company name or background. It is a complete anonymous broker.
Fortunesea offers variety of account type such as —
What is more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Fortunesea Minimum Deposit
Fortunesea deposit is pegged $1,000 based on its account type. Just to put a comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, Fortunesea.org presents Bitcoin, Ethereum and PerfectMoney according its FAQs, but the broker truly accepts crypto coins like Bitcoin, Ethereum, Tether and BNB.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Fortunesea withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Fortunesea doesn’t say much when it comes to its trading platform. We registered to clear our suspicion, but no trading platform was to be found.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Fortunesea also states that it offers a leverage up to 1:20. Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Some Findings about Fortunesea.org Broker Regulation
First of, Fortunesea claims to be regulated by multiple jurisdictions including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Maltese Financial Services Authority (MFSA).
To clear our suspicions, we decided to search the registers of these authorities just in case. Needless to say, Fortunesea wasn’t to be found on either of them.
Regrettably, this broker also posts a certificate of incorporation issued by the Financial Services Authority (FSA) of St. Vincent and the Grenadines.
SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Fortunesea Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Fortunesea FX located at Fortunesea.org claims to appear like a trustworthy trading broker, however, you should not take the words they say. It is a non-regulated cryptocurrency broker offering financial services to clients. By all appearances, the advice to traders remains to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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