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FortuneTradeFX Review: Fortunetradefx.com Forex Scam

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FortuneTradeFX Review: Fortunetradefx.com Forex Scam

FortuneTradeFX (Fortunetradefx.com) is a cloned trading website that has been banned by the Financial Conduct Authority. Fortune Trade FX is professing to offer Bitcoin Mining Services as well as CFD trading. They claim to have a $500K depository coverage which is a false statement to drive investors to sign up. Evidence is out after the FCA posted a warning regarding this illicit trading platform. It is best to stay away from Fortune TradeFX. Read this genuine FORTUNETRADEFX Review for more.

FortuneTradeFX Review

About FortuneTradeFX

The homepage is the only user friendly page as the rest are either down or not working. Pages are slow to respond and it seems attacks have been mounted on the website. These scam brokers have been exposed and hackers are now trying to steal credit card information from members. The broker has been trying to clone a real trading website by the name Tradeslide Trading Tech. Information can be seen on the FCA’s page on the banned brokers which the broker tops.

Disclaimer at the bottom of their homepage suggests the platform is owned by Tradeslide Trading Teck Limited. These are false claims as the broker is not mandated to offer any trading services to investors. Scam brokers will do or say anything to try and make their products and services appear legit. And this has been the case since time in memorial. With an alert out, other regulatory bodies will issue a warning towards investors from their regions. FortuneTradeFX is not a broker to be trusted with funds, better stay away.

Assets Found

FortuneTradeFX is claiming to offer Bitcoin Mining services and Forex trading services. When it comes to mining Cryptos, it is best to have a reliable and reputable Crypto mining company. The entire website has no information regarding how and when the platform operates. A crypto mining company will have information regarding hash power. These brokers clearly leave out this vital information. They also fail to mention the account features available in their Forex assets.

Business Owner

Tradeslide Trading Tech Limited is a name used by these scam brokers. FortuneTradeFX is an offshore trading brokerage firm with no known address. These are scam brokers who target European investors who want to get their own coins. And this is a huge problem as most of them will be dealing with unprofessional brokers. With heavy losses expected, it is best to steer clear of the platform. Fortune Trade FX is not a trusted broker and with a warning out, they will soon close shop.

Domain Details

According to the trusted domain register whois.net, FortuneTradeFX is barely six months old. The trusted domain register shows the website Fortunetradefx.com was created on 4th November 2019. And this is proof they have been operating for a while without a valid license. Stay away from such scam brokers who have no valid trading licenses. Claims of having over a decade of trading experience are quickly thrown off. Scam brokers will do or say anything to try and make their platforms appear legit.

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License and Registration of FortuneTradeFX

FortuneTradeFX FCA Warning

The Financial Conduct Authority was the first regulator to issue a stern warning. These scam brokers have been soliciting funds from investors. And the trend must stop with authorities completely shutting down their website. FortuneTradeFX is not licensed or registered by any official regulatory body. With an alert out from the UK, other regulatory bodies in Europe will follow suit. These scam brokers must be wipes out to help clean the online trading world of scam products.

FortuneTradeFX is not posting any documents to prove their authenticity. And this is another reason to stay away from their platform. With no actual trading services provides, we didn’t expect license documents. A real trading website will post copies of their trading license for all to see. By doing this, it helps members to validate the documents with official regulatory bodies. These scam brokers chose to post false and random registry numbers to throw off suspicion. Too bad complaints reached regulatory bodies and the truth is out.

Restrictions of FortuneTradeFX

Account Details

FortuneTradeFX is not furnishing members with any account type. And this means they are offering to take control of trading services. It does not mean they offer PAMM account types. These scam brokers coarse members to give up control of accounts. And this is why they fail to mention any account features. The industry has set $250 as the acceptable minimum deposit requirement. These scam brokers are asking a hefty sum to unsuspecting investors.

Account Managers

The broker is claiming to have account managers capable of running the platform. These account managers have been exposes as call agents hired to pose as professionals. And this is another concrete reason to stay away from the platform. These scam brokers are a nuisance and should be brought to book. Call agents are paid using commissions and it is suspected they are commingling funds.

Contact and Customer Support

FortuneTradeFX is using a chat bot to act as a live agent. With the chat bot services, they will harvest data and sell them to third parties. After a quick chat, the bot will ask visitors to leave their personal information. Members leave their contact details in form of emails and phone numbers. With time, these investors start getting calls from agents asking for their credit card information. And they will also get countless promotional emails from related scam products.

Deposit and Withdrawal

The deposit and withdrawal page loads slowly and it is hard to get the full details. We did manage to find out they use Bank Transfer, Credit/Debit Cards, and Skrill. They claim the minimum deposit is $500 which is double the accepted depository requirement. With such claims, it is best to stay away from it. Withdrawing funds still remains to be the biggest hurdle with the platform. None of the members have been able to withdraw any funds with the platform. And this is proof we are dealing with a scam.

Founding Members

Scam brokers will do or say anything to try and make their way out. With this broker, they claim Juan Colon is one of their founding member. A quick search using the browser shows Juan Colon is the CEO and Co-Founder of Darwinex. Darwinex is a trader exchange located in the United Kingdom. These scam brokers are actually selling false information to unsuspecting investors. Thanks to our keen eye, we know how to spot scams from a mile away, and this smells of lousy brokers.

Trading Platform

FortuneTradeFX is claiming to use both the MT4 and MT5 trading platforms. A closer check reveals the broker is using a custom built terminal not tested by experts. Such trading terminals are risky as they pose a huge risk to members. Hackers find them an easy target for credit card heists. Stay away from such platforms as they show signs of slow execution speeds and sluggish response time. The platform is without a doubt a trap that will leave members vulnerable to third party attacks.

Safety of funds with FortuneTradeFX

It is clear that the broker does not have actual account types on their platform. And this means segregation of accounts is not taking place. The broker is pooling funds in one account which is against set industry regulations. Anyone who deposits funds should know they are giving these scam artists a path to your bank account. Steer clear of the platform and resist any calls to deposit funds with them.

Scam or Legit FortuneTradeFX

FortuneTradeFX Trading Platform

According to the evidence produced, FortuneTradeFX is a scam waiting to pounce on individuals. Stay away from this platform and never sign up with any of their affiliate programs. With a warning from the FCA, Fortune Trade FX is definitely a scam worth avoiding. These scam brokers will soon have their website shut down by authorities.

Final Thought

To protect our readers, we have to add this broker to our scam blacklist.

Avoid such terrible brokers and use expert recommended products and services. Begin your trading success with acceptable mining companies with a solid reputation.

We wish all traders a successful trading experience.

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