Zerodha
Zerodha Broking Ltd.40.0Regulated
IndiaEst. 2010SEC
1:11 licence
Editorial review
Broker Summary
What Wikilix has recorded about Fortune: its history, the licences it holds, its trading conditions and its fees.
Introduction and Overview
Fortune is a trading broker that strives to offer a one-stop platform to engage in multiple financial markets. Even though the public data available on Fortune is not extensive, the existence of the broker in the financial sector indicates their effort to make trade opportunities accessible to people.
Knowing the services, regulation, and trading conditions of Fortune is very important for traders contemplating the platform offered by this broker. The below article is a systematic and organized presentation of information on Fortune, stressing various factors such as its background, characteristics, regulation, and usage, based on relevant information available.
Background and History
Fortune Wealth is an unregulated broker that allows trading in equity and derivative products on NSE Mobile App and NOW (NSE's online trading platform) trading platforms.
Nevertheless, a brokerage firm such as Fortune usually has the intention of establishing itself and its good conditions for trading to attract clients. The fact that there is no historical information about the company suggests that Fortune might be a newcomer or keeps a low profile.
Main Characteristics and Opportunities
Fortune's basic services would most likely include facilitation of different financial instruments, trade platforms, and different types of trade accounts to cater to different needs of traders. Unfortunately, due to limited information, exact information regarding different financial instruments, trade platform technology, and different features is hard to find out.
Typically, broking facilities offered under this category include trading tools such as real-time market information, technical analysis facilities, and customer service. It is safe to assume that Fortune also intends to offer such facilities if it is going to compete effectively in the market.
Regulatory Compliance and Licensing
Its regulatory supervision aspect is a very important factor to consider in the evaluation of any online trading broker. Unfortunately, there is very little information that can be made available about Fortune’s regulatory licenses and whether it is in compliance with the regulations or not.
Traders are advised to contact fortune for direct confirmation of its regulatory system before participating in trading activities.
Regulator
License Number
Status
Limited information available
-
World of Securities Reporting
Spreads, leverage, and minimum deposit are very essential in evaluating the appropriateness of a brokerage service. Unfortunately, particular information on the spreads, leverage, minimum deposit, and so on, provided by Fortune is currently not publicly available.
Likewise, data regarding the trading platforms supported in Fortune, whether they support widely used platforms such as MetaTrader, and whether they use proprietary software, is unavailable. It is therefore difficult to assess the technology and interface offered in this brokerage.
Spot Condition/Exchange
Details
Spreads
Limited information available
Leverage
Limited information available
Minimum deposit
Few details known
Technology of the platform
Unknown data found
Fee Structure
Understanding fees is very important if traders want to control their expenditures. Unfortunately, no information is available on the fees that Fortune charges with regard to deposit fees, withdrawal fees, and commissions.
Generally, the brokers will usually charge varying fees based on the accounts and trade volumes, but without specific information, one cannot conclusively outline the cost structures set by Fortune.
Fee Type
Details
Fees for Deposits
Limited information available
Withdrawal Fees
Limited information available
Commission
Restricted Data Available
Conclusion
A profile of Fortune reveals it to be trading as a broker in the financial services industry, but there is very limited publicly available information, making it impossible to assess it comprehensively on its services, regulation, and trading terms and conditions offered by the broker. It is pertinent to exercise extreme caution and refer directly to Fortune. Even though the broker presents competitive offerings, the fact that he lacks extensive data emphasizes the need to conduct a comprehensive background investigation before dealing with Fortune.
Regulation check
Regulatory Licenses
Fortune is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked row is not a finding either way.
0 of 1 checked
1Licences on record
0Confirmed on register
1Tier 1 or 2
0Offshore
How far our check got
- 1 not yet checked
SECTier 1 (securities)IndiaFinancial ServiceNo. NSE/BSE/MCX: INZ000190535; CDSL: IN-DP-103-2015
What the register says
- Licence number
- NSE/BSE/MCX: INZ000190535; CDSL: IN-DP-103-2015
- Type
- Financial Service
Client protection under this licence
- Compensation schemeSIPC insures up to $500,000 per customer (including $250,000 cash)
- Complaints routeSEC Tips/Complaints/Referral
- Maximum leverage1:50
These are the rules SEC sets for the firms it licenses. They are not a statement about how Fortune applies them, or about which of its companies would hold your account.
About Securities and Exchange Commission
Onshore regulatorGovernment bodyCompensation: SIPC insures up to $500,000 per customer (including $250,000 cash)Public registerTransparency: medium- Typical cost of this licence
- Varies; FINRA and SEC registration fees
Trading accounts
Account Types
2 account types on record. Minimum deposit from USD 50. Leverage up to 1:500.
2 account types
| Account | Min Deposit | Leverage | Commission |
|---|---|---|---|
| ProVIP | USD 50 | 1:500 | No deposit fees; spreads from 0.0 pips |
| ProVIP | USD 50 | 1:500 | No deposit fees; spreads from 0.0 pips |
Deposits & withdrawals
Funding Methods
One way to fund an account.
1 method
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
| Bank Wire TransferBank Transfer | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
Trading software
Trading Platforms
One trading platform on record: Meta Trader 5.
1 platform
- Meta Trader 5WindowsMacLinuxWebAndroidiOSAPIDetails
Legal entities
Corporate Network
One legal entity behind the Fortune brand.
1 entity
- FORTUNE WEALTH MANAGEMENT COMPANY INDIA PRIVATE LIMITEDActiveIndiaRegistration U06599TZ2003PTC010836Established Jan 3, 2019
Comments
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