Fortuno Markets

Introduction

FORTUNO MARKETS is an online option for trading - on a multi-asset basis - all types of currencies including stocks, commodities, and cryptocurrencies. FORTUNO MARKETS is committed to technology-driven solutions for trading and its unique platform creates the potential for improved trading conditions.

To date, however, FORTUNO MARKETS is still relatively new to the market place. This article is intended to provide traders with an overview of FORTUNO MARKETS from a financial services and regulatory point of view including premise, services offered, regulations, and regulations of trading conditions as well as fees. It is also our goal to write this article with an even balance of constructive and negative elements in order for readers to better understand what FORTUNO MARKETS offers and related risks.

FORTUNO MARKETS Ltd is incorporated in St Lucia under the name of Company Registration No. 2024-00084 (IBC). The company's commercial address is located at 1st / 2nd Floor Meridian Place Choc Estate Castries. Additionally, FORTUNO MARKETS (UK) Ltd is incorporated in the UK under Company Registration No. 15884483 at 100 High Street, London, N14 6BN. Thus, both companies form the Fortuno Markets Group.

FORTUNO MARKETS allows trading through CFD's (Contract for Difference) on over 10 different asset types including: foreign exchange (forex), commodities, digital currencies, stocks, and indices using its own online trading platform Fortuno. The Fortuno platform includes both demo and live accounts along with the ability to create a wallet to deposit and withdraw funds, but you cannot use your wallet to trade.

To open an account with FORTUNO MARKETS, you will be required to submit several documents to verify your identity and be compliant with KYC (know your customer) regulations. FORTUNO MARKETS also offers an Affiliate Program to generate traffic to their site. FORTUNO MARKETS claims to have developed their own technology designed to create a better trading experience for customers; however, no detailed information is available to support these claims.

Available Trading Instruments

Asset Class

CFD Trading Product

Foreign Exchange (Forex)

CFD's on Currency Pairs

Commodities

CFD on Precious Metals, Energy Products, Agricultural Products

Digital Currencies

CFD's on Larger Capitalized Cryptocurrencies

Stocks

Single Stock (Individual Company) CFD's

Global Indices

CFD's Based off Global Stock Indices

Regulations and Licenses

One factor that traders must consider when reviewing a broker is its regulatory agencies to which it is subject. FORTUNO MARKETS states it is regulated by The U.S. National Futures Association (NFA) and has an NFA szumber (0562589); however, we were not able to find the existence of an NFA with this NFA number on its official website, thus creating doubt about potential fraud or false information being represented.

FORTUNO MARKETS also claims it is registered with the Financial Services Regulatory Authority (FSRA) Common Business Registration jurisdiction but does not provide any license number, date of registration, or contact information for independent verification of its claim. Although FORTUNO MARKETS’ IBC registration from Saint Lucia is valid, this does not indicate that the company possesses a financial services license.According to Independent sources, FORTUNO MARKETS has been designated as unregulated and therefore associated with a high degree of risk related to potential fraud.

Below is a summary of the regulatory body with which FORTUNO MARKETS is registered:

Regulatory Body:

License No. Status of License

Saint Lucia IBC 2024-00084 Registered as IBC; no financial services license

National Futures Association (NFA) 0562589 (According to FORTUNO) No record found; likely bogus

Financial Services Regulatory Authority (FSRA) Not Provided No record; no documented history of the business

Trading environment and platform technology:

FORTUNO MARKETS provides very little information about their trading environments. FORTUNO does not publish the spreads, leverage, mimimum deposit requirements, nor commission structure of their trades. The inability to quantify these cost / risk parameters can be a significant drawback for traders looking for sufficient detail upon which to base their trading decisions.

Additionally, FORTUNO MARKETS uses a proprietary trading platform called Fortuno. This platform offers both demo and real accounts. However, FORTUNO states that after 7 days of inactivity, the demo account will be closed. Also, if you are busy with a live trading account for more than 28 days, it will also have restrictions that may interrupt your ability to trade continuously. The trading platform provides a wallet to include deposits/withdrawals, but transactions cannot be completed using the wallet to buy & sell.

Within the registration process, you will receive a verification link through email and you will also be able to establish a 2-step sign-on process (optional) for additional security. However, mobile trading applications and advanced trading applications (i.e., algorithmic trading, charting, or the ability to connect to 3rd party platforms) are not mentioned on the web site.

Characteristics Instructions to Help You

Spread Information Not publicly disclosed.

Leverage Not publicly disclosed.

Minimum Deposit Not publicly disclosed.

Demo account Not currently offered. Dissolved 7 days after inactivation.

Real Account Currently offered, but issues may arise after 28 days.

Software Platform Proprietary trading platform called Fortuno.

Security Email verification; optional two-factor authentication.

Mobile Application Available; not specified as to version.

Fee Structure

FORTUNO MARKETS has chosen not to provide any fee structure clarity on its website, including deposits or withdrawals or inactivity fees. The lack of fee clarity increases the likelihood of hidden fees.

According to external reports from customers of the broker, customers may incur additional "liquidity," "taxes," "unblocked," or "verification" fees imposed by the broker when making a withdrawal from an account. Such fees appear to be obstacles preventing customer's withdrawals and thereby resulted in numerous customer complaints to have been perpetrated as a scam by the broker.

Fee Type Details Source

Deposit Fees Not disclosed. Official site.

Withdrawal Fees Not disclosed; have an excessive number of reports of the existence of hidden fees. User reports.

Inactivity Fees Not disclosed. Official Site.

Commission Not disclosed. Official Site.

Additional fees Reports exist of "liquidity" fees, "unblocking" fees, and "verification" fees making it impossible to make a withdrawal. User reports.

User Experience, Market Reputation

Retrospectives related to the broker have been troubling for many users and independent analysis in this area is consistent with user

While the majority of deposits to the broker have been made easily as per user reports, over a large portion of these deposits were made by customers who discovered their withdrawals were blocked by the broker unless additional fees were paid by the customer to have their funds released from the broker. Users have also reported that the broker's trading dashboard contains fictitious profits that have created feelings that customers have a higher profit than they actually do.

Most customers have found customer service difficult to contact or completely unresponsive either through the absence of telephone, chat or email contact. Overall, the industry rating for this broker is one of the lowest at 2.09 out of 10 and both trust and reliability are extremely low.

Many customers have provided feedback concerning the Anonymous nature of the broker's ownership, the absence of verifiable regulation for the broker, and the risk of a sudden closure of their website, which all indicate a warning sign to potential investors.

Quick Deposits But Issues with Withdrawals

There are reports of dashboard profits being fictitious

There appears to be a push for customers to deposit more funds

There is very little customer service and the service that does exist is not responding

Industry trust at a low level of 2.09 out of 10

Numerous regulatory issues, including ownership, and the lack of discovery of verifiable regulations.

Recent News

State of Saint Lucia incorporated FORTUNO MARKETS as a registered International Business Company, 2024, establishing the company's elements therein. No new products, announcement of any type, or significant strategic changes for the firm have been made since the company was formed (2024-2025).

In recent weeks, an increasing number of complaints and reports have been circulated that suggest the company is attempting to scam customers in various ways. Reports include situations where customers were blocked from making withdrawals and situations where the company was falsely representing that it had regulatory authority to conduct financial transactions. Due diligence will be required of all potential customers wishing to do business with FORTUNO MARKETS.

Conclusion

Although FORTUNO MARKETS markets itself as being advanced technologically with multiple asset classes and a variety of CFDs in several markets and this would normally substantiate a positive view of the broker. The lack of description related to trading conditions to be clear, meaningful, and transparent; there is little if any detail about the broker's fees; and a lack of evidence of the regulatory environment relating to the risk of providing cash to the broker creates a very high level of concern.

Potential customers should be especially cautious concerning prior reports of problems related to the broker, including (limited but not exclusive) reports concerning difficulties being experienced with withdrawals and fees not being provided. The absence of documentation supporting the broker's claim to operate under any regulatory authority or having any past experience with the broker further contribute to the perceived risks associated with doing business with FORTUNO MARKETS.