Fortnomics offers the best market features to ensure traders can be successful in trading. Although the company claims to have been operating in the brokerage service segment for a long time, the exact date of its founding remains unknown. Despite indicating an office in the United Kingdom, registration documents and licenses from the British FCA are not presented. The number of online reviews is small, with positive comments even predominating. If you are interested in finding out whether the broker is a scam or not, join our investigation.
Table of Contents
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
First Impression of Fortnomics.com
On the official website, this broker shares its philosophy and goals. The formulations are very vague and lack specifics. It seems as if the task was to fill the site with a huge pile of meaningless content, which affected the quality and usefulness of the text.
At the top of the page, users can find information about the firm, but without specific details, terms, educational articles, a blog with not a single article, legal documents, FAQ, and contacts. Using a standard and typical template by Fortnomics is noticeable.
The graphic design, apart from the image of a planet enveloped in an unbreakable network, is absent. Most phrases and sentences are of no use or meaning, while the site lacks details and specific facts. Thus, Fortnomics clearly did not even try to create a proper and quality resource, which obviously characterizes the firm negatively.
Partnership and Bonuses
Fortnomics offers an affiliate program to its clients, but this can only be learned at the moment of account registration. The thing is, when creating a personal account, one can indicate a promo code, which hints at the presence of an affiliate program. Unfortunately, it is impossible to evaluate the terms of cooperation as they are simply not disclosed.
Bonus promotions are only mentioned in the FAQ section, where Fortnomics reveals information that clients can receive bonuses for deposit replenishment, their size depending on the type of account. Importantly, these funds cannot be withdrawn until a certain trading turnover is achieved. Alas, the company does not disclose exact figures regarding the required trading volume. In addition, active traders can participate in a loyalty program.
Account Opening on Fortnomics.com
To start trading, it is necessary to open an account. This procedure at Fortnomics is simple; you need to provide some information:
- Contact details: email and phone number.
- Country and currency (USD, GBP, or EUR).
- Promo code (if any).
Additionally, the user must be over 18 years old and agree to the terms.
If you do not have a referral code, you will not be able to register. As it turns out, this code is mandatory for entering, and without it, the registration process does not continue. Fortnomics allows creating an account only by invitation.
This is a clear red flag, as such an approach is most often used by fraudulent organizations. We do not know the exact idea behind closed registration, but the fact remains. Will Fortnomics be an exception among a host of illegal brokers? We will find out later.
Because of this promo code, it is impossible to test the service and see with your own eyes what the client portal looks like. Even a demo account is absent, which could have allowed clicking buttons, getting used to the interface, and understanding whether the platform is suitable or not.
On the official Fortnomics website, one can find the AML and KYC policy, where it is explained what this is and why it is necessary. Therefore, it is quite logical to assume that the broker complies with the regulators’ requirements and asks its clients to undergo identity verification.
The KYC procedure is standard. Fortnomics requires two documents to prove a user’s identity and address. In some cases, you will have to upload a photo/scan of a bank card or other confirmation that the account from which the balance will be replenished belongs to a trader.
- It is unknown how long the document verification process will take.
- Requires a photo/scan of a bank card.
The trading platform in Fortnomics is only a web-based terminal. No applications for mobile phones (Android/iOS) have been developed, nor is there a desktop version. Those who prefer to trade on a smartphone can use the web version adapted for mobile browsers.
Moreover, the broker considers such a solution more convenient and practical than a separate mobile application. We have a different opinion. Mobile applications have quality optimization and a broader set of tools. In any case, a web trader cannot fully replace a desktop. So why then do professional traders use desktop versions of popular platforms?
Since it is impossible to create an account without an invitation code, there is no choice but to believe the description on the official website. Fortnomics hardly describes the available tools and advantages of the terminal except for its web-based nature.
How Can I Trade With Fortnomics?
The firm offers several types of accounts, differing in the size of the required deposit and the set of additional services. Fortnomics also provides traders with leverage of up to 1:200 to increase the volume of orders. Trading is limited to currency pairs, stocks, metals, indices, commodities, and cryptocurrencies. Spot and futures contracts are not available, only CFDs. Let’s take a closer look at the tariff plans.
All Info About Accounts
So, Fortnomics has seven types of accounts and one additional — Islamic, which lacks swaps. Despite a minimum deposit of $250, the first account type requires a replenishment of €10,000. This includes only electronic books, webinars, market reviews, and social trading. Why such a requirement for deposits? All popular CFD platforms have long reduced entry thresholds to the bare minimum — $10. Some even offer to start with $1, opening a cent tariff.
The second tariff requires €25,000 — which seems absurd. The only difference from the first account type is the availability of video on demand (VOD). The third and fourth tariffs require €50,000 and €100,000 respectively. Then, the minimum deposits rise to as much as 1 million euros. Will there really be takers willing to risk such money? It should be noted that Fortnomics does not offer any super-features but sets unreasonable limits.
However, the drawbacks do not end there. In addition to inadequate conditions regarding the minimum deposit and the set of additional services, the company can be characterized as secretive and opaque. Fortnomics hides the size of commissions and spreads. Incidentally, these are the most important conditions that traders pay attention to first and foremost.
Leverage of up to 1:200 is a sign of the absence of proper and serious regulation. Serious financial commissions prohibit offering levers higher than 1:30.
- Islamic account.
- Contradictory information regarding the initial deposit.
- Hidden trading conditions.
- Absence of a demo account.
Market Analysis and Education With Fortnomics.com
The official website has a company blog, but it is empty. In addition, clients can study the FAQ and articles about trading, financial markets, and cryptocurrencies. No further functionality or additional tools are provided. Even an economic calendar is absent. Many brokerage firms create useful content for their traders, such as fresh analytics or training courses, but Fortnomics deemed this unnecessary.
Deposit, Withdrawal, and Fees
Funds can be transferred in various ways:
- Bank wire transfers.
- E-wallets (Neteller, Skrill).
Depositing funds is commission-free, but nothing is mentioned about withdrawals. Fortnomics also promises to process withdrawal requests within 5 business days. This is excessively long, especially when compared to competitors who transfer funds on the same day the request was made.
How Can I Contact It?
Contacting Fortnomics managers is only possible through one of the phone numbers (for trading inquiries or technical support). Well, where is the email? It’s odd to see a broker without an email address. Although it’s likely it would have been fake, as such firms often list non-existent email addresses.
The question remains — will the employees respond if called at the provided numbers? There’s no other way to contact them. Fortnomics could have created an online chat on their website, but they haven’t. There are also no social media accounts.
- Not found.
- Online chat and email support are absent.
- No social media accounts.
Is Fortnomics Dangerous?
It’s evident how the broker attempts to extract as much money as possible from clients, setting huge requirements for the minimum deposit. Meanwhile, any benefits are simply absent. Fortnomics looks suspicious, but it’s necessary to consider the duration of operation and licenses to reach a final verdict.
How Long Does The Broker Work?
The specific founding date is not mentioned on the official website. Likely, the firm deliberately conceals its operating period because it is too short. The domain registration date, November 13, 2023, suggests that the Fortnomics site is very recent. It is corroborated by the scant number of reviews online.
How Is Fortnomics Regulated?
The website mentions a license from the unknown regulator Crypto Conduct Authority. Unfortunately, links or the license number are absent, so we cannot verify whether this is true. Moreover, this regulatory body is unknown. And why does a CFD broker boast a license from a commission that, judging by the name, specializes in the cryptocurrency industry?
Considering the presence of an office in the United Kingdom at 11 Westferry Circus, London, it would be logical to assume that Fortnomics should obtain a license from the Financial Conduct Authority (FCA). However, no such company is found on the FCA register.
Is the broker genuinely operating officially in the United Kingdom? Or is London’s headquarters fabricated? In fact, yes, the office is fake, as Fortnomics is not listed in the registry of legal entities of this jurisdiction.
Frequently Asked Questions (FAQ)
How to Trade With Fortnomics?
Is Fortnomics Legit?
How Risky Is It?
Have you noticed some similarities between this scam broker and other pseudo-companies? Such firms have been encountered more than once. Apparently, this is some kind of gang of anonymous fraudsters, creating their fake brokerage websites in batches. It is always necessary to check the license, the duration of operation, and other aspects of the broker’s activity with whom you plan to cooperate. Otherwise, you might end up with Fortnomics and lose a substantial amount. One would like to believe that there is no person on our planet who trusted criminals. Let them create millions of such sites, but the main thing is that people do not believe them and do not transfer their deposits.