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FortuneOX Review - Is it scam or safe?

FortuneOX Review - is FortuneOX.com scam or good forex broker?

RATING: 2 / 1 REVIEWS ForexBrokerz FortuneOX
FortuneOX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $500 0.01 1:400 Fixed, 1.8 pips

 

FortuneOX offers its clients a single commission-free account type with fixed spreads, and high leverage levels reaching 1:400 on the MetaTrader 4 platform. Besides, micro tradeable lots are offered to those traders unwilling to put much at stake.

 

Actually, the spreads offered by offerings of FortuneOX are good, fixed at 1.8 pips on EUR/USD, while most fixed-spread brokers offer spreads of 2 pips for this pair. Yet, easyMarkets’s spread on EUR/USD is fixed at 1 pips, and unlike FortuneOX, this broker is licensed by reputable financial authorities. Also, in order to open an account with easyMarkets, one has to invest just $100, while FortuneOX requires an initial deposit of at least $500, which is a bit high for an offshore brokerage.

 

The Company. Security of Funds

 

Company

Country

Regulation

FortuneOX Capital Limited

Vanuatu

VSFC

 

FortuneOX is an offshore broker and a market maker, offering trading in more than 50 currency pairs, precious metals and some CFDs on the most popular platform, the MetaTrader 4.

 

The company behind the brand, FortuneOX Capital Limited, is registered with the Vanuatu Financial Services Commission. Traders should be aware that offshore financial licenses are just shiny pieces of paper that many brokers upload on their websites, trying to present themselves as reliable companies to invest in. Well, the truth is that investing in offshore brokers is extremely risky and a many of those companies are in fact scams.

 

If you intend to invest a large amount of funds, we advise you to select among FCA-regulated brokerages, or such licensed in Cyprus, where the respective financial watchdogs are always on alert and your money will be safe and protected. Moreover, these jurisdictions have set up compensation schemes in case a regulated brokerage becomes insilvent.

 

Trading Platforms

 

As we have already mentioned, this broker supports the MetaTrader 4 (MT4) platform. This trading terminal is preferred by most experienced users, because this professional, fully-featured software provides everything a trader needs: fast order execution, a variety of technical indicators, linear instruments, advanced charting package and the ability to develop and to use Expert Advisors (EA).

 

FortuneOX's desktop MT4. Click to enlarge.

 

Methods of Payment

 

FortuneOX offers its clients bank wire transfer, credit/debit cards, as well as Skrill and China UnionPay as payment options.

 

Keep in mind that withdrawals made via bank transfer may take from 2 to 7 days.

 

Conclusion

 

FortuneOX is an offshore brokerage and a market maker that supports the MT4 platform. The initial deposit required is a bit high, however the spread is not bad. To sum up the above:

 

Pros Cons
MT4 available Offshore broker
Competitive fixed spreads Comparatively high initial deposit required
  Market Maker model

 

Latest news about FortuneOX
No news about FortuneOX . Check back later.
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Traders` reviews for FortuneOX

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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