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XFortunes

Saint Vincent and the Grenadines|2-5 years|
Suspicious Scope of Business|High potential risk|

https://www.x-fortunes.com

Website

Rating Index

Contact

+44 2039961016
support@x-fortunes.com
https://www.x-fortunes.com
Firsts Floor, First St Bank Ltd Building, James Street, P.O. Box 1574, Kingstown VC0100, St. Vincent and Grenadines

Licenses

No valid regulatory information, please be aware of the risk!

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Contact number

English

+44 2039961016

Broker Information

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Company Name

Mango Group LLC

Company Abbreviation

XFortunes

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-05-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

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XFortunes · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

XFortunes Review Summary in 10 Points
Founded 2022
Registered Country/Region Saint Vincent and the Grenadines
Regulation Not regulated
Market Instruments Cryptocurrencies, Forex, Commodities, Stocks, Indices, ETFs
Demo Account Not available
Leverage Up to 1:400
EUR/USD Spread Not specified
Trading Platforms WebTrader
Minimum Deposit 250 €
Customer Support Phone, Email, Request form, Live chat

What is XFortunes?

XFortunes, a trading name of Mango Group LLC,is a global brokerage firm based in Saint Vincent and the Grenadines. It provides traders with access to financial instruments including Cryptocurrencies, Forex, Commodities, Stocks, Indices, ETFs. However, it is important to note XFortunes is currently not regulated which may raise concerns when trading.

XFortunes' home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Various account types to suit different trading needs • Not regulated
• Rich educational resources for traders of all levels • Limited info on deposit/ withdrawal
• High deposit fees
• Inactivity fees charged
• Commissions charged
• No MT4/5 platforms

XFortunes Alternative Brokers

There are many alternative brokers to XFortunes depending on the specific needs and preferences of the trader. Some popular options include:

  • Eightcap- offers a technologically advanced trading infrastructure, fast execution speeds, and a diverse range of trading instruments, making it a suitable choice for traders seeking a robust trading experience.

  • Admiral Markets- With its strong regulatory oversight, extensive range of tradable assets, and user-friendly platforms, Admiral Markets is a recommended option for traders looking for a well-established and trustworthy brokerage.

  • City Index- offers a comprehensive suite of trading tools, educational resources, and a user-friendly platform, making it an excellent choice for both beginner and experienced traders who value a robust trading environment.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is XFortunes Safe or Scam?

When considering the safety of a brokerage like XFortunes or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: It is not regulated by any major financial authorities, which means that there is no guarantee that it is a safe platform to trade with.

  • User feedback: Read reviews and feedback from other clients to get an understanding of their experiences with the brokerage. Look for reviews on reputable websites and forums.

  • Security measures: XFortunes implements SSL technology to establish a secure connection between users' web browsers and the platform's servers. SSL encryption adds an extra layer of protection, preventing unauthorized access to users' data during their online sessions.

Ultimately, the decision of whether or not to trade with XFortunes is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

XFortunes offers a diverse selection of market instruments, allowing traders and investors to access a wide range of financial opportunities. The platform provides access to:

Cryptocurrencies: Users can trade and invest in popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and many others.

Forex: XFortunes enables users to engage in the foreign exchange market, where they can trade currency pairs and take advantage of fluctuations in exchange rates.

Commodities: The platform offers access to various commodities, including precious metals like gold and copper, energy resources such as oil and natural gas. Trading commodities allows users to diversify their portfolios and benefit from price movements in these physical assets.

Stocks: XFortunes provides access to a wide range of stocks, allowing users to invest in individual companies across different industries and sectors.

Indices: Traders can track and trade the performance of major indices such as the S&P 500, Dow Jones Industrial Average, and NASDAQ. Investing in indices provides a way to gain exposure to a basket of stocks and reflect overall market sentiment.

ETFs (Exchange-Traded Funds): XFortunes also offers access to ETFs, which are investment funds that track the performance of specific sectors, markets, or asset classes. ETFs provide diversification and flexibility, allowing users to invest in a range of assets with a single trade.

Market Instruments

Accounts

XFortunes offers a range of account types designed to cater to the varying needs and investment capabilities of traders. The platform provides several account options, each with its own features and minimum deposit requirements.

Starting with the BASIC Account, users can begin their trading journey with a minimum deposit of 250 €. This account type offers essential features and functionalities to get started in the financial markets.

Moving up, the BRONZE Account requires a minimum deposit of 5000 € and provides additional benefits such as enhanced customer support and access to educational resources.

The SILVER Account, requiring a deposit of 20,000 €, offers further advantages such as and senior account manager service.

For more experienced traders, the GOLD Account with a minimum deposit of 50,000 € unlocks premium features such as personalized trading strategies and dedicated account managers.

For high-net-worth individuals and institutional traders, the PLATINUM Account demands a minimum deposit of 100,000 € and provides advanced tools, VIP services, and tailored investment solutions.

Lastly, the ELITE Account, with a minimum deposit of 250,000 €, offers the highest level of privileges, including personalized trading support and exclusive perks.

Account Types

Leverage

At XFortunes, traders have access to a wide range of trading leverage options, spanning from 1:1 to an impressive 1:400. Leverage is a powerful tool that enables traders to amplify their market exposure by trading with borrowed funds. A leverage of 1:1 indicates trading without any borrowed funds, while a leverage of 1:1000 allows traders to trade with a thousand times the amount of their initial capital. Higher leverage can potentially magnify both profits and losses, as it increases the trading position size relative to the invested capital. Traders who are experienced and have a solid understanding of risk management may opt for higher leverage to enhance their trading opportunities. However, it is crucial to approach leverage with caution and consider individual risk tolerance, as higher leverage also increases the potential risk.

Trading Platforms

XFortunes provides traders with the convenience and flexibility of accessing their trading accounts through the WebTrader platform, accessible via a web browser. Whether you prefer using Google Chrome, Apple's Safari, Firefox, or Microsoft Edge, you can seamlessly navigate the markets and execute trades without the need to install any additional software.

Broker Trading Platforms
XFortunes WebTrader
Eightcap MT4, MT5, WebTrader
Admiral Markets MT4, MT5, MetaTrader WebTrader
City Index Advantage Web, AT Pro, MT4

Trading Tools

XFortunes offers a comprehensive economic calendar as a powerful trading tool for its clients. This economic calendar is designed to provide traders with timely and relevant information about upcoming economic events, news releases, and key indicators. With this tool, traders can stay informed about important economic data releases such as GDP reports, employment figures, inflation rates, central bank decisions, and more.

Additionally, the economic calendar provides traders with previous and forecasted data, enabling them to compare and analyze the potential impact of the upcoming release on the markets. This information helps traders make informed trading decisions and adjust their strategies accordingly.

economic calendar

Deposits & Withdrawals

XFortunes offers a wide range of deposit methods, allowing traders to fund their accounts seamlessly.

One of the popular options available is depositing via Credit/Debit Card, providing a quick and secure way to transfer funds directly from the card to the trading account. For those who prefer traditional banking methods, XFortunes also supports Bank Wire transfers, enabling users to deposit funds directly from their bank accounts. Additionally, the platform offers E-money options such as Skrill, Neteller, and Sofort, providing electronic wallet solutions for fast and convenient transactions. These E-money platforms are widely accepted and allow users to transfer funds easily from their digital wallets to their trading accounts.

For withdrawals from XFortunes account, the requested amount will be transferred using the same payment method with which you made the initial deposit while the rest of profits may be withdrawn using any withdrawal method currently accepted by XFortunes. Minimum withdrawal amount is 50, with sums refer to the currency used in your account (USD, GBP, EUR).

Fees

Deposit fees: None.

Withdrawal fees: most withdrawals are assigned a service fee of 3.5%. If this percentage equals an amount of 30 or less, the trader will simply be charged a standard 30 withdrawal fee. The maximum service fee for a single withdrawal is capped at 3,500, with the sums refer to the currency used in your account (USD, GBP, EUR).

Maintenance Fees: Starting from the initial trade an investor executes, a monthly maintenance fee of 20 (USD, GBP, EUR) will be charged to the trading account on the last day of the month. If you begin trading after the 1st day of the month, you will then be prorated for the remaining fees, in accordance with how many days remain in the month.

Inactive Account (Dormant) Fees: If there hasnt been any trade executed in your account within 30 days, your account will be subjected to a dormant account administrative fee of 100. The fees will be deducted from your account balance on the date of the 61st day and monthly onwards until you resume your account activity, or until the balance reaches zero.

These sums refer to the currency used in your account (USD, GBP, EUR).

Profit Clearance Fees: The fee is variable and depends on the profit volume generated from each position, ranging between a minimum of 1.50 and maximum of 5.00 per trade (USD, GBP or EUR). The profit clearance fee applies to successful trades or those sold for profit.

Customer Service

XFortunes provides multiple customer service options to assist its clients. Customers can reach out to XFortunes through various channels to address their queries and concerns as below:

Phone: +442039961016.

Email:support@x-fortunes.com; billing@x-fortunes.com.

In addition, XFortunes also offers a Contact Us form on their website. Customers can fill out this form with their queries, providing details about their specific needs or concerns.

XFortunes also provides live chat support for its clients, ensuring that traders have access to assistance and support at any time of the day.

Customer Service
Pros Cons
• Accessibility • Quality and Expertise
• Personalized Support
• 6/24h live chat

Note: These pros and cons are subjective and may vary depending on the individual's experience with XFortunes customer service.

Education

XFortunes offers a comprehensive set of educational resources. Traders can access a variety of valuable materials, including:

Webinars: XFortunes hosts interactive webinars conducted by market experts, providing insights into market analysis, trading strategies, and current trends. These webinars offer an opportunity to learn directly from professionals and engage in live discussions.

Video Courses: The platform offers a library of video courses covering a wide range of topics, from beginner-level introductions to advanced trading strategies. These courses are designed to enhance traders' knowledge and provide step-by-step guidance on various aspects of trading.

Glossary: XFortunes provides a comprehensive glossary of financial terms, ensuring traders have a solid understanding of industry-specific terminology. This resource is helpful for beginners who are new to trading and want to familiarize themselves with key concepts.

FAQ Page: The platform features a frequently asked questions (FAQ) page that addresses common queries and concerns. Traders can find answers to various topics, including account management, trading platforms, and technical issues. The FAQ page serves as a quick reference for resolving common inquiries.

Education

Conclusion

According to available information, XFortunes is a non-regulated Saint Vincent and the Grenadines -based brokerage firm. While the firm offers a range of market instruments such as Cryptocurrencies, Forex, Commodities, Stocks, Indices, ETFs, it is important to consider certain factors such as lack of regulations that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from XFortunes before making any investment decisions.

Frequently Asked Questions (FAQs)

Q 1: Is XFortunes regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: Does XFortunes offer the industry leading MT4 & MT5?
A 2: No.
Q 3: Does XFortunes offer demo accounts?
A 3: No.
Q 4: What is the minimum deposit for XFortunes?
A 4: The minimum initial deposit to open an account is 250 €.
Q 5: Is XFortunes a good broker for beginners?
A 5: No. It is not a good choice for beginners. Its been verified the broker currently has no valid regulations from recognized regulatory authorities.

News

WikiFX Broker Assessment Series | Is XFortunes Reliable?

ExposureWikiFX Broker Assessment Series | Is XFortunes Reliable?

2024-04-07 12:18

In this article, we will discuss the broker named XFortunes. If you plan to invest in this broker, it is wise to read this article before taking action.

WikiFX
2024-04-07 12:18
Exposure
WikiFX Broker Assessment Series | Is XFortunes Reliable?

User Reviews

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Dicentory
more than one year
I have to say I'm disappointed with the customer service. Whenever I have an issue or question, it seems like the staff goes out of their way to avoid addressing it. Instead, they tend to veer off into unrelated topics, which is frustrating. It'd be great if they could focus more on actually helping with the problems at hand rather than sidestepping them.
2024-02-07 16:38
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悦好
more than one year
This broker has earned my business, and I have opened several accounts with them at the same time. Every time the investment manager makes a bad strategy. After spending hundreds of dollars with them, I can see clearly that they are not prepared and I should not have been given an account to begin with.
2023-03-17 18:34
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FX1312064638
more than one year
The company XFortunes does not have any regulatory license, and I couldn't find any valuable user reviews. Without these things, I wouldn't definitely invest here. It's way too risky.
2023-03-07 14:58
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