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Contract reading

What Fortuno Markets legally published, but does not want you to read

Every clause below is published by Fortuno Markets itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Fortuno Markets Ltd

sole discretionhidden feewithdrawalscomplaint deadlinedeemed acceptanceforum waiverkyc freezemultiple accountsprofit voidingunilateral amendment

Fortuno Markets' own risk disclosure says you transfer full ownership of part of every deposit. That money is not segregated and may be irrecoverable if the firm fails, while the homepage promises segregated accounts. The deposit page says no fees, then buys your rupees at 93 to the dollar and sells them back at 83. You get 24 hours to complain about a trade, after which the contract says you have no rights at all.

Back to Fortuno Markets

Contract risk

Money at risk
8.7/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
10
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 17 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning9
Notice1

section 140 of 154is where the deepest clause sits, 91% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical10.75%Fee you were not shown. Jump to the clause this comes from.A no fees deposit page with a 10.75% currency gapCritical3 working daysWithdrawal limit. Jump to the clause this comes from.Instant withdrawals promised, three working days in the contractCritical1 daysTime to complain. Jump to the clause this comes from.Twenty four hours to complain, then no rights at allCritical1Account limit. Jump to the clause this comes from.Help page invites multiple accounts, contract closes them

What the documents say

17 clauses worth knowing about, worst first, each quoted from Fortuno Markets's own files

01

Fortuno Markets' risk disclosure says you transfer full ownership and title to part of every deposit. Fortuno Markets decides how much, daily, and it can exceed your margin. The homepage tells you funds are held separately from the firm's own.

Why this matters

The same clause says you have no ownership claim over that money and that Fortuno Markets may use it on its own account. If the firm fails, the document says that money may be irrecoverable.

Exhibit 1CriticalRarely seen

Additionally, you will transfer full ownership and title to a portion of all the money you will deposit with Fortuno Markets.
Clause 13 in Risk Disclosure
Downloaded from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Aug 30, 2026The claim, on Segregated Accounts panel on the Fortuno Markets homepage, copy dated 23 August 2025Visit this page on the broker's siteDownload the full size image file
Our own capture of fortunomarkets.com, taken on Aug 30, 2026What the contract says, clause 13Visit this page on the broker's siteDownload the full size image file
Our own capture of web.archive.org, taken on Aug 30, 2026Your deposit stops being yours, says the risk disclosure (clause 13)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA, and firms under ESMA rules, may not take title to a retail client's money as collateral and must hold it in segregated client accounts. This document says you transfer full ownership and title, and that the money is not subject to segregation.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingTitle transfer collateral belongs to institutional dealing, where both sides are firms. Pointed at a retail deposit it turns your money into the broker's money, leaving you an unsecured creditor rather than an owner.

  • Worse together with Exhibit 3Money you no longer own sits behind a withdrawal the firm can refuse at its own discretion.
02

Fortuno Markets' deposit page says it applies no deposit or withdrawal fees, and every row of both tables reads No Fees. The same page buys your rupees at 93 to the dollar and sells them back at 83, a round trip cost of 10.75%.

Why this matters

You pay it going in and again coming out, before a single trade. The gap is 8.16% on Malaysian ringgit and 4.73% on Indonesian rupiah, and the contract lets Fortuno Markets set the conversion rate itself.

Exhibit 2CriticalHarder than usual10.75%

Fees might also be applicable for the withdrawals and the online card payment as stipulated on the respective pages of the Company’s website.
Clause 11.5 in CLIENT AGREEMENT, p.10
Read from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Aug 30, 2026The claim, on Deposit and Withdrawal page, above the fee tables, copy dated 12 October 2025Visit this page on the broker's siteDownload the full size image file
Our own capture of fortunomarkets.com, taken on Aug 30, 2026What the contract says, clause 16.5Visit this page on the broker's siteDownload the full size image file
Our own capture of fortunomarkets.com, taken on Aug 30, 2026A no fees deposit page with a 10.75% currency gap (clause 11.5)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 68 of 154 in the CLIENT AGREEMENT, 44% of the way through.

What it costsDeposit 93,000 rupees and the account shows $1,000. Withdraw that $1,000 the same day and 83,000 rupees come back. The 10,000 rupees are gone without a fee ever being named.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must show a retail client the total cost of a transaction, including any currency conversion charge, before that client trades. This page presents the gap as an exchange rate and states that no fees apply.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 11Nothing fixes those rates: the contract lets Fortuno Markets change costs without telling you first.
03

The homepage says Fortuno Markets processes withdrawal requests instantly. The Client Agreement gives it three working days to send your money, plus up to five more for it to arrive. The Terms start that clock when Fortuno Markets accepts the request, not when you make it.

Why this matters

Nothing sets a deadline for accepting your request, so the three days need not start at all. Fortuno Markets can decline a withdrawal outright, and can bar you from taking out any of your money while it decides whether your explanations satisfy it.

Exhibit 3CriticalHarder than usual3 working days

Funds are transferred by the Company within three (3) Business Days from the date they are debited from the Client’s Account. It may take up to five (5) Business Days for fundstobe credited tothe Client’s personal bank account after initiation of the transfer from the Company’sside.
Clause 16.9 in CLIENT AGREEMENT, p.16
Read from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Aug 30, 2026The claim, on Seamless Withdrawals panel on the Fortuno Markets homepage, copy dated 23 August 2025Visit this page on the broker's siteDownload the full size image file
Our own capture of fortunomarkets.com, taken on Aug 30, 2026What the contract says, clause 16.9Visit this page on the broker's siteDownload the full size image file

Buried at section 97 of 154 in the CLIENT AGREEMENT, 63% of the way through.

What it costsThree working days to send plus five working days to arrive is eight working days. Asked for on a Friday, that money can land a fortnight later.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must handle a retail withdrawal promptly and give a reason when they refuse. This contract lets Fortuno Markets decline a withdrawal in any payment system and sets no deadline for deciding.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

04

You have 24 hours to complain in writing about how a trade was executed. Clause 20.3 then says you no longer have any rights, of any type and form, against Fortuno Markets.

Why this matters

The clock runs from when the problem happened, not from when you noticed it. A trade that goes wrong on Friday evening can be beyond challenge before you open the platform on Monday. Clause 20.2 also removes your right to compensation entirely if you used an expert advisor.

Exhibit 4CriticalRarely seen1 days

Any complaint relating to the execution or non-execution of an order will be considered only on the expressed condition that it is made in writing upon the occurrence of the events in question and at the latest before the opening of the relevant market on the day after the execution, that is, within a 24-hour period from the time of occurrence of the complaint.
Clause 20.2 in CLIENT AGREEMENT, p.18
Read from the broker's site on Open the reference
Our own capture of fortunomarkets.com, taken on Aug 30, 2026Twenty four hours to complain, then no rights at all (clause 20.2)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Buried at section 112 of 154 in the CLIENT AGREEMENT, 73% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must accept a retail complaint for months, answer within eight weeks, and point the client to an independent ombudsman. This contract allows 24 hours, names no outside body, and treats the deadline as the end of your rights.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingShort complaint windows appear in offshore contracts. A window of one day sitting above a clause that extinguishes every right of any type and form is different: a missed deadline becomes a full release of the firm.

  • Worse together with Exhibit 12You get one day to complain, and the only evidence that counts is the log kept by the firm you are complaining about.
05

Fortuno Markets can close your positions and recoup any closed profit from accounts that tend to trade during news or other volatile market conditions. Clause 18.1 lets it do the same, without notice, to trading it considers unethical or questionable.

Why this matters

Trading around a news release is ordinary trading, not a breach of anything. Under these clauses a profitable week can be reversed out of your balance, and the contract sets no test, no evidence standard and no appeal.

Exhibit 5CriticalRarely seen

The Company reserves the right to liquidate all or some open positions, close, suspend or recoup any closed profit or loss from Accounts who tend to trade during news or other volatile market conditions, and return any remaining proceeds to the Client in accordance with the Company’s Account Closing Procedures or any combination thereof.
Clause 18.4 in CLIENT AGREEMENT, p.17
Read from the broker's site on Open the reference
Our own capture of fortunomarkets.com, taken on Aug 30, 2026Profit can be taken back for trading during news (clause 18.4)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Buried at section 103 of 154 in the CLIENT AGREEMENT, 67% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must treat clients fairly and cannot cancel a validly executed trade because the outcome suited the client. This contract lets Fortuno Markets recoup closed profit on its own view of the trading style.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost contracts reserve profit cancellation for defined abuse such as latency arbitrage. Naming accounts that tend to trade during news turns an ordinary, lawful strategy into grounds for taking the profit back.

  • Worse together with Exhibit 7One route takes your profit for how you traded, the other for a document that arrived late.
06

Fortuno Markets' help centre says yes, you can create multiple accounts on the same identity, each with its own email address. Clause 3.19 says creating several Personal Areas by using multiple email addresses is prohibited, and lets Fortuno Markets close all but one without telling you.

Why this matters

Clause 3.19.1 also lets Fortuno Markets close your open orders at market prices when it finds the extra accounts. You would be following the published guidance and losing live positions for it.

Exhibit 6CriticalHarder than usual1

Creating several Personal Areas by using multiple email addresses is prohibited. If the Company reasonably suspects the Client to operate more than one Personal Area, the Company reserves the right to close all Personal Areas except one at its sole discretion which will also mean closing the Trading Accounts opened within them without prior notification of the Client.
Clause 3.19 in General Terms and Conditions
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 13Extra accounts are first treated as one client, then netted against each other without your authorisation.

A late photograph can cost you everything you earned

Fortuno Markets can demand selfies with your identity documents at any time and gives you 14 calendar days. Miss them and the Terms say the account is irreversibly blocked and your own money is refunded, excluding profits. The next line says no profits shall be paid, and the Client Agreement sets a different deadline of 21 days for the same kind of check.

Identity checks1 clause flagged

Fortuno Markets can ask you for selfies holding your identity documents at any time. You get 14 calendar days. Miss them and the Terms say your account is blocked for good and your own money is refunded, excluding profits.

Why this matters

The next line says no profits shall be paid for such accounts. Everything you earned is kept because a photograph arrived late, and the block is described as irreversible.

Exhibit 7CriticalRarely seen14 days

If the Client does not send advanced selfies and/or regular selfies with the requested documents within the mentioned 14-day period, the Client’s account shall be irreversibly blocked, and the Clients personal funds, excluding profits, shall be refunded
Clause 13.10.3 in General Terms and Conditions
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must run identity checks and may freeze an account, but money earned on validly executed trades stays the client's. This contract pays back the deposit and keeps the profit.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingFreezing an account until documents arrive is normal. Returning only the deposit and keeping the profit turns an identity check into a forfeiture, and the clause requires no suspicion of wrongdoing first.

What the homepage promises, the contract takes back

Fortuno Markets promises segregated accounts on its homepage while its risk disclosure says you transfer full ownership of part of every deposit. The same pattern repeats on leverage, advertised as 1:Unlimited and capped at 1:500 above $5,000 in the Terms. The site sells in ten languages and both contracts say only the English text has any legal effect.

Promise against paper2 clauses flagged

Fortuno Markets offers its site in ten languages, including Hindi, Bahasa Indonesia, Bahasa Melayu, Vietnamese and Spanish. Both contracts say English is the only official language and that translations carry no legal effect.

Why this matters

You can be sold to in your own language and still be bound only by 63,000 characters of English. Fortuno Markets also disclaims responsibility for whether the translation you read was correct.

Exhibit 10WarningHarder than usual10

Translation or information provided in languages other than English in our website is for informational purposes only and do not bind us or have any legal effect whatsoever; we have no responsibility or liability regarding the correctness of the information therein.
Clause 15.2 in CLIENT AGREEMENT, p.13
Read from the broker's site on Open the reference

Where it sits: section 82 of 154 in the CLIENT AGREEMENT, 53% of the way through.

The homepage offers up to 1:Unlimited leverage. Clause 7.3 of the Terms caps leverage by account size: 1:500 only up to $5,000 of your own funds, then 1:100, then 1:30, then 1:15.

Why this matters

Deposit more and your buying power falls. Fortuno Markets can also change your leverage at any time without notice, and warns that an automatic cut can push the account into a margin call.

Exhibit 14WarningHarder than usual$5000

Leverage 1:500 is provided for accounts with maximum personal funds of up to 5000 USD/EUR (depending on the account currency)
Clause 7.3.1 in General Terms and Conditions
Downloaded from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Aug 30, 2026The claim, on Main headline block on the Fortuno Markets homepage, copy dated 23 August 2025Visit this page on the broker's siteDownload the full size image file

The costs are real even where the word fee never appears

Fortuno Markets' deposit page says it charges no deposit or withdrawal fees, then buys Indian rupees at 93 to the dollar and sells them back at 83, a 10.75% round trip. Copy trading carries a performance fee of up to 50% a month. The Client Agreement lets Fortuno Markets change commissions and spreads without notice and claim fees back retrospectively, and the Terms say it is not liable to disclose what it took.

Cost disclosure2 clauses flagged

Fortuno Markets can change its commissions, spreads and financing fees at any time without telling you first. Clause 11.6 also lets it claim fees back from you retrospectively where it suspects the fee policy has been abused.

Why this matters

The Terms add that Fortuno Markets is not liable to disclose what it took in fees from your trading. You can be charged more than you agreed to and never see the figure.

Exhibit 11WarningHarder than usual

The Company may change its commissions, spreads and financing fees from time to time without providing prior notice to the Client.
Clause 11.6 in CLIENT AGREEMENT, p.11
Read from the broker's site on Open the reference

Where it sits: section 69 of 154 in the CLIENT AGREEMENT, 45% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before that client trades, and report them afterwards. This contract says the firm is not liable to disclose them.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A money manager on Fortuno Markets' copy trading service can set a performance fee of up to 50%. It is taken out of your account automatically on the first day of each month.

Why this matters

The homepage advertises zero commission accounts, and this fee appears in a separate agreement. Half of a good month can leave your balance before you decide anything.

Exhibit 15WarningHarder than usual50%

Money Managers will select at the time of opening their Money Manager Account a Performance Fee percentage up to a maximum of 50% (Fifty percent).
Clause 15.1 in Copy Trading Agreement
Downloaded from the broker's site on Open the reference

What it costsA follower who makes $1,000 in a month at the maximum rate pays $500. The remaining $500 is what reaches the balance.

Money you have already made can be reversed out

Fortuno Markets can recoup closed profit from accounts that tend to trade during news or other volatile market conditions, which describes ordinary trading. Clause 18.1 extends that to any style it deems unethical or questionable, without notice. It can also treat all your accounts as one pot and set off against your claims without asking.

Taking the profit back1 clause flagged

Open more than one account and Fortuno Markets can treat them as a single unit and move money between them to cover a negative balance. Clause 25.1 lets it set off against your claims without asking you at all.

Why this matters

A loss in one account can be taken from the balance of another. Because accounts sharing an IP address can be treated as one client, that reach is not limited to accounts you opened yourself.

Exhibit 13WarningRarely seen

The Company shall have the right, at its discretion and without the Client’s authorisation, of a “set-off” against the Client’s claims, for all claims arising out of its relationship with the Client.
Clause 25.1 in CLIENT AGREEMENT, p.21
Read from the broker's site on Open the reference

Buried at section 126 of 154 in the CLIENT AGREEMENT, 82% of the way through.

Our readingSet-off across a client's own accounts is common. Combining it with a rule that treats every account on one IP address as the same client extends it to people who merely share a home connection.

One day to complain, and the broker's log decides

Fortuno Markets gives you 24 hours to complain about how a trade was executed, and clause 20.3 then says you have no rights of any type or form against it. Its own server log has absolute priority over every other argument, and where the log recorded nothing your point may not be considered. Using an expert advisor removes your right to compensation altogether.

Challenging a trade1 clause flagged

The Terms say Fortuno Markets' server log has absolute priority over every other argument. If the log did not record what you are pointing at, the Terms say your argument may not be considered.

Why this matters

You cannot see that log and cannot check it. Fortuno Markets also says it will under no circumstances compensate you for lost profit, and that complaints about how long an order took are not accepted.

Exhibit 12WarningHarder than usual

The Server Log File has absolute priority over other arguments including the Client Terminal Log File as the Client Terminal Log File does not register every stage of the execution of the Clients Instructions and Requests.
Clause 17.1 in General Terms and Conditions
Read from the broker's site on Open the reference

Buried at section 115 of 154 in the CLIENT AGREEMENT, 75% of the way through.

Four regulatory homes across three documents you accept

Fortuno Markets Ltd is a Saint Lucia company, reg 2024-00084, according to the Terms and the website footer. The Client Agreement says the relationship is governed solely by the laws of St Vincent and the Grenadines and that the firm is authorised by Vanuatu's VFSC. The risk disclosure page cites Belize's IFSC. No licence number appears anywhere.

Which law applies1 clause flagged

The Terms say Fortuno Markets is registered under the law of Saint Lucia. The Client Agreement says the relationship is governed solely by the laws of St Vincent and the Grenadines and that the firm is authorised by the VFSC, Vanuatu's regulator. The risk disclosure names Belize's IFSC.

Why this matters

You cannot tell which court hears a dispute or which regulator, if any, stands behind the firm. No licence number appears in any of these documents.

Exhibit 16WarningRarely seen

The relationship between the parties shall be governed solely by and construed solely in accordance with the laws of the Republic of St Vincent and Grenadines
Clause 30.1 in CLIENT AGREEMENT, p.22
Read from the broker's site on Open the reference

Buried at section 140 of 154 in the CLIENT AGREEMENT, 91% of the way through.

Our readingOffshore brokers routinely use one small jurisdiction. Naming four different regulatory homes across three documents a client accepts at the same moment is a drafting failure that leaves the governing law genuinely unsettled.

Fortuno Markets is the only venue your order reaches

Clause 7.2 of the Fortuno Markets Client Agreement says the company is the only execution venue and that the venue is a non-regulated market. The Terms let it decide not to pass an order to a liquidity provider at all, and let it set the current market price at its sole discretion. No conflicts of interest policy appears among its published documents.

In plain words

Liquidity providers are outside banks and brokers.

Who is on the other side1 clause flagged

The About Us page says trades are routed directly to the market. Clause 7.2 of the Client Agreement says Fortuno Markets is the only execution venue, and that the venue is a non-regulated market.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

Your trade is a bet against the firm holding your money, so your loss is its gain. Fortuno Markets also sets the market price at its own discretion, and publishes no conflict of interest policy.

Exhibit 9WarningHarder than usual

The Client accepts that the Company is the only execution venue, which is a non-regulated market.
Clause 7.2 in CLIENT AGREEMENT, p.7
Read from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Aug 30, 2026The claim, on STP Trading Platform panel under Our Values on the About Us page, copy dated 24 August 2025Visit this page on the broker's siteDownload the full size image file
Our own capture of fortunomarkets.com, taken on Aug 30, 2026What the contract says, clause 7.2Visit this page on the broker's siteDownload the full size image file

Where it sits: section 46 of 154 in the CLIENT AGREEMENT, 30% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must publish a conflicts of interest policy and tell a retail client when they are the counterparty to that client's trades. No conflicts policy appears among Fortuno Markets' published documents.

Fortuno Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Stopping trading starts a charge that ends at zero

Fortuno Markets charges $30 once an account has been inactive for 90 days, then $10 every month after. At 180 days a quarterly $30 dormancy fee applies, capped at whatever is left, so it stops only when the balance is empty. After six months the account is closed and the balance moves to a control account you do not hold.

In plain words

Dormancy means an account left unused.

Going quiet1 clause flagged

Leave the account alone for 90 days and Fortuno Markets charges $30, then $10 every month after that. At 180 days a separate quarterly $30 dormancy fee applies, capped at whatever is left in the account.

Why this matters

The dormancy fee is the lesser of $30 and your remaining balance, so it stops only when the balance is empty. After six months the account is closed and the balance is moved to a control account you do not hold.

Exhibit 8WarningHarder than usual$30

The Companywill be chargingan initial fee of USD30 (see table below for other currencies) at the end of a 3 month period, in which a specific Account qualifies as Inactive. On every subsequent month that the account remains inactive, there will be a fee of USD10 (see table below for other currencies).
Clause 12.5 in CLIENT AGREEMENT, p.12
Read from the broker's site on Open the reference

Where it sits: section 71 of 154 in the CLIENT AGREEMENT, 46% of the way through.

What it costsA forgotten account holding $100 pays $30 at 90 days, then $10 a month. Seven months later there is nothing left to charge.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90The account counts as inactive and a $30 fee is taken.12.5
Every month afterA further $10 is taken for each month the account stays inactive.12.5
Day 180The account counts as dormant and a quarterly $30 fee starts, capped at the balance left.12.1
After 6 monthsFortuno Markets closes the account and moves the balance to a temporary control account.12.6
Zero balanceA dormant account with nothing in it is archived after a further 90 days.12.4

Bonuses exist in the clauses but not in the documents

Two clauses of the Fortuno Markets Client Agreement strip bonuses and promotion credits from dormant and inactive accounts, and the Terms treat bonus arbitrage as prohibited trading. No bonus terms appear among the nine legal documents it publishes. The only published bonus rules are the ones that remove it.

Missing paperwork1 clause flagged

Two clauses strip bonuses and promotion credits from dormant and inactive accounts, and the Terms treat bonus arbitrage as prohibited trading. Fortuno Markets publishes no bonus terms among its legal documents.

Why this matters

If you are offered a bonus you have no published rules to read: no turnover requirement, no withdrawal condition, no expiry. The only bonus terms you can find are the ones that take it away.

Exhibit 17NoticeStandard wording

All remaining bonuses and promotion credits will be automatically removed from Dormant Accounts.
Clause 12.3 in CLIENT AGREEMENT, p.11
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The homepage promises segregation while the risk disclosure says part of your money is not segregated and belongs to the firm.

Said in public, in English

We safeguard your funds by holding them segregated from our own.

Segregated Accounts panel on the Fortuno Markets homepage, copy dated 23 August 2025

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of web.archive.org

In the contract · clause 13

You will have no proprietary claim over this amount of money, which will not be subject to segregation or other duties pursuant to client money rules in force from time to time under applicable law and may be dealt with by Fortuno Markets on its own account.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fortunomarkets.com

02

The page says no fees apply while the same page prices rupees at 93 in and 83 out, and the contract makes any refund of deposit costs discretionary.

Said in public, in English

Fortuno Markets does not apply any deposit nor withdrawal fees.

Deposit and Withdrawal page, above the fee tables, copy dated 12 October 2025

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of web.archive.org

In the contract · clause 16.5

It is at the Company’s sole discretion to return back to the Client any of the fees he incurred in effecting a deposit into his Account.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fortunomarkets.com

03

Instant processing is promised on the homepage while the contract allows three working days to send and five more to arrive.

Said in public, in English

We process your withdrawal requests instantly 27/4.

Seamless Withdrawals panel on the Fortuno Markets homepage, copy dated 23 August 2025

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of web.archive.org

In the contract · clause 16.9

Funds are transferred by the Company within three (3) Business Days from the date they are debited from the Client’s Account. It may take up to five (5) Business Days for fundstobe credited tothe Client’s personal bank account after initiation of the transfer from the Company’sside.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fortunomarkets.com

04

The help centre tells you multiple accounts on different email addresses are allowed, and the contract prohibits exactly that.

Said in public, in English

Yes, you can create multiple Fortuno Accounts using the same identity at Fortuno Markets, but each Fortuno Account requires a unique email address.

Fortuno Markets help centre article dated 22 April 2025, copy dated 12 May 2025

In the contract · clause 3.19

Creating several Personal Areas by using multiple email addresses is prohibited. If the Company reasonably suspects the Client to operate more than one Personal Area, the Company reserves the right to close all Personal Areas except one at its sole discretion which will also mean closing the Trading Accounts opened within them without prior notification of the Client.

05

The About Us page says every trade goes to the market while the contract says Fortuno Markets is the only venue those trades reach.

Said in public, in English

STP brokers route all of their clients’ trades directly to the market. Resulting in tight spreads and the ability to trade in large volumes.

STP Trading Platform panel under Our Values on the About Us page, copy dated 24 August 2025

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of web.archive.org

In the contract · clause 7.2

The Client accepts that the Company is the only execution venue, which is a non-regulated market.

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06

Unlimited leverage is advertised on the homepage while the Terms cap it by account size, starting at 1:500.

Said in public, in English

CFDs on Forex, Commodities, Bonds, Metals, Energies, Stocks, Indices, and much more with up to 1:Unlimited leverage, ultra-fast execution, swift deposits and withdrawals, and swap-free accounts.

Main headline block on the Fortuno Markets homepage, copy dated 23 August 2025

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In the contract · clause 7.3.1

Leverage 1:500 is provided for accounts with maximum personal funds of up to 5000 USD/EUR (depending on the account currency)

The documents this reading is based on

10 files, all published by Fortuno Markets. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Fortuno Markets publishes.

How this reading was done

Every clause above was read out of a document Fortuno Markets publishes itself

This reading was published on .

Documents
1 of 10downloaded from the broker's site, and one read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Position measured
11clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Fortuno Markets Ltd

You contract with Fortuno Markets Ltd, an International Business Company registered 2024-00084 at 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. A second company, Fortuno Markets (UK) Ltd, reg 15884483 at 100 High Street, London N14 6BN, appears in the website footer as part of the same group, but no document makes it your counterparty. The papers do not agree on where that leaves you. The General Terms say the company is registered under the law of Saint Lucia. The Client Agreement says the relationship is governed solely by the laws of St Vincent and the Grenadines, prints a Kingstown address, and says the company is authorised by the VFSC, which is Vanuatu's regulator. The risk disclosure page says the document is required under the IFSC, which is Belize's. No licence number appears in any of them, and no compensation scheme is named anywhere.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Fortuno Markets publishes its whole document set free and without a login: the client agreement, the terms, the copy trading agreement, the risk disclosure and five more policies. The deposit page gives exact minimums, maximums and exchange rates in a table, which most offshore brokers never publish. Copy trading performance fees run on a high water mark, so a money manager cannot charge you twice on the same profit. The margin call is electronic, with no discretion over which trade closes first, and the stop out closes your biggest losing position first.

We read the Client Agreement end to end. We read the first twelve sections of the General Terms and Conditions in today's copy. Sections 13 to 23 we read in a copy of the same page dated 24 August 2025, and every quotation from those sections is credited to that copy. We read the Copy Trading Agreement only in a copy dated 29 April 2025, and the Risk Disclosure only in a copy of Fortuno Markets' own risk disclosure page dated 12 October 2025. We did not read seven files at all: the Anti Money Laundering Policy, the Privacy Policy, the Order Execution Policy, the Refund Policy, the Anti Spam Policy, the Risk Disclosure PDF and today's Copy Trading Agreement. Fortuno Markets' website turned us away when we went back to its live pages, so every marketing claim here is quoted from a dated copy of its own page, and each contradiction says which date. Today's Terms and today's Copy Trading Agreement are each a few hundred characters shorter than their 2025 copies, so something in the later half of each one changed and we could not identify what.

How to check any of this yourself

Every quote above links to the Fortuno Markets file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Fortuno Markets publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Fortuno Markets on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 30, 2026.

If you represent Fortuno Markets and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Fortuno Markets. Whether its licence is real and current is a separate check on the broker profile.

Back to the Fortuno Markets profile