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Fortune Option Xpert Review
Are you thinking about signing up with Fortune Option Xpert? That is probably what brought you to this review. When you decide to trade in the financial markets, you need the services of a broker and there are hundreds, or thousands, to choose from. It is enough to confuse anyone, especially someone who doesn’t know what to look for in a platform before signing up. You could choose the first option that seems reasonable, but the existence of scams should make everyone wary. This is how they set their traps and you don’t want to fall into one, as this Fortune Option Xpert review will highlight.
The scammers know just how to draw people in and they deliberately add offerings that people find hard to resist. They add features and conditions that are bound to catch the eye and many people sign up quickly, only to find out it is all fabricated. This is something that also happens in the case of Fortune Option Xpert because they have created a front that is just too attractive. They claim to be globally recognized and experienced in the forex industry and state that they have more than 275,000 clients all across the globe.
It has further declared itself to be one of the first online trading platforms to exist and promises multi-access market and professional-grade tools. Plus, Fortune Option Xpert also promises safety because it claims of being regulated by some of the biggest supervisory authorities in the world, including the United States Treasury Department. This sounds like quite a package and enough to get people clamoring to sign up with the brokerage. However, as mentioned earlier, this is what you have to be careful about because it is the tactic that scammers use for luring people in.
You will learn soon enough that Fortune Option Xpert is definitely not what it claims to be and the truth is enough to help you avoid falling into their trap. Let’s check it out:
False regulatory claims
First things first, it is always a good idea to verify the regulatory claims made by a broker because regulation plays a very important role in your safety and protection when you are trading online. A licensed and regulated broker maintains the highest standards required to protect your investment and your data, which can give traders peace of mind. The fact that Fortune Option Xpert claims to be regulated and licensed can reassure many, but when you try to verify their claims, the truth is quite shocking.
Yes, they have presented some certificates on their website, but you will realize quickly enough that they are not authentic. According to Fortune Option Xpert, they are owned and operated by Fortune Oxoption Ltd (USA), but you will not find the company listed in any of the registers of the US authorities. Brokers in the United States are under the regulation of the Commodity Futures Trading Commission (CFTC) and have to be a member of the National Futures Association (NFA). But, you will not find the broker or its parent company listed anywhere.
Secondly, Fortune Option Xpert also claim to have a subsidiary in the United Kingdom, but if you check the online register of the Financial Conduct Authority (FCA), which is the regulatory authority for the region, you will not find the broker anywhere. This is enough for you to determine that they are outright lying about their regulatory status and should not be trusted at any cost.
Conflict of interest
The fact that Fortune Option Xpert is an unregulated broker is already a big enough concern for you because an unregulated platform can disappear without warning. However, it gets worse when you dig deep into their offerings because there are other problems you will uncover. One of the offerings that you will come across on their platform is that of an Auto Trading Platform. These are advertised as Trading Robots that will trade on your behalf.
According to Fortune Option Xpert, you can invest your money on their platform, sit back and then just enjoy the profits. That sounds like a very good deal, but this is where you should be alert right away. First off, online trading involves intrinsic risk, so anyone who is promising you profits is scamming you. There is no guarantee what will happen because the markets are unpredictable and risky.
Another problem is that brokers by their nature are market makers, which means that they will make profits when their customers lose a trade. Therefore, it doesn’t make sense that Fortune Option Xpert will offer you trading robots that will help you make money because it means they lose money. They have all the incentive to mismanage your funds because there is an obvious conflict of interest that they have not shared with you.
Offshore company offers trading platform
Most people will be dazzled by the fact that Fortune Option Xpert is offering the MT4 trading platform, which is recognized as one of the leading trading solutions in the market. Its advanced technology and features are quite well-known and it is recognized as one of the highly recommended solutions. Hence, its availability should be an advantage. The problem is that a company by the name of FortuneOX Capital Ltd. is offering this platform, which is based in Vanuatu, an offshore jurisdiction. These are unregulated jurisdictions and do not have any credibility whatsoever.
Only crypto payments accepted
The final nail in the coffin for Fortune Option Xpert is the fact that they only accept crypto payments. You can use bitcoins for making your deposit and the problem with this method is that there is no possibility of a chargeback. It is why scammers prefer using cryptocurrencies because this payment method is untraceable for the most part and is also final, as opposed to VISA and MasterCard that allow you to file for a chargeback in case something goes awry.
The truth about Fortune Option Xpert is now obvious and you can determine that this brokerage is nowhere close to authentic.