Is FortuneFX a Licensed Broker?One of the most significant red flags with FortuneFX is that it is not regulated by any financial authority. It does not have a license from the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or any other reputable regulatory body. The lack of regulation means that there are no guarantees that the broker follows the best practices or that the funds are secure.
Why Should You Not Trust an Unlicensed Broker?Dealing with an unlicensed broker means that there is no independent body to oversee the broker’s activities, which can lead to fraudulent activities, such as manipulation of prices, unauthorized trading, or even complete loss of funds. Also, an unlicensed broker is not obliged to follow any regulatory guidelines regarding fund segregation, which means that the funds can be misused or lost.
Can FortuneFX Be Trusted?
Considering the lack of regulation, it is difficult to trust FortuneFX with your money. There have been several complaints about the broker’s practices, such as delayed withdrawals, account closures, and even loss of funds. The absence of a regulatory body means that there is no guarantee that the broker follows any code of conduct or ethics.
What Do Traders Think About FortuneFX?
Based on the reviews of traders who have dealt with FortuneFX, the general consensus is that the broker is unreliable, untrustworthy, and a scam. Many traders have reported that they have lost their funds and have been unable to withdraw their money. There have also been reports of aggressive sales tactics and persistent pressure to deposit more funds.
Scammed by FortuneFX? – Talk To Our experts
If you have been scammed by FortuneFX or any other broker, it is essential to seek professional help. Our team of experts can provide you with a free consultation and service recommendations to help you recover your funds. Contact us today to get started.
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