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Fortune Wealth Management

India|5-10 years|
Suspicious Scope of Business|High potential risk|

http://www.fortunewmc.com/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

United States 3.74

Surpassed 72.55% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+91 0422-4334333
info@fortunewmc.com
http://www.fortunewmc.com/
1056, Avanashi Road, Opp The Nilgiris,Coimbatore 641018, Tamilnadu, India.

Licenses

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

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-25
  • 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

Fortune Wealth Management · WikiFX Survey

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Fortune Wealth Management · Company Summary

Fortune Wealth Management Review Summary
Founded 2003
Registered Country/Region India
Regulation No Regulation
Market Instruments Equity, Derivatives, Mutual Fund, IPO, and Currencies
Account Demat & Trading Account
Account Opening Fee Rs 116
Products Portfolio Investment Scheme, Portfolio Management Services, Index Investing, Mutual Funds, Daily Surplus Fund Management
Services Equity Broking, Online trading, Commodity Broking, Currency Derivatives, Margin Funding, Derivatives Broking, Depository Services, Spot Payment, Investor Education
Trading Platforms NOW (NSEs Web Trading Platform), NSE's Mobile App, and ODIN terminals
Customer Support Telephone: 0422-4334333 / 30 Lines
Fax: 0422-4334331
email: info@fortunewmc.com
Facebook, Linkedin

What is Fortune Wealth Management?

Fortune Wealth Management, founded by Mr. Jose C Abraham, is a prominent stockbroking company in India. With its promoters boasting over 27 years of experience in the capital market, the firm has established a strong reputation for integrity, efficiency, and approachability since its inception in 2004.

As a member of NSE, BSE, and a Depository Participant of CDSL, Fortune offers a comprehensive suite of services in the capital market. However, Fortune Wealth Management is not regulated by any financial authority.

Fortune Wealth Management's homepage

Pros & Cons

Pros Cons
  • Rich Experience
  • Lack of Regulation
  • Client Focus
  • Geographical Focus
  • Diverse Services

Pros of Fortune Wealth Management:

Rich Experience: The company boasts over two decades of combined experience in the capital market, potentially indicating expertise and established practices.

Client Focus: Fortune emphasizes building long-term relationships with clients through personalized counseling and face-to-face interactions, which some investors may prefer.

Diverse Services: Membership with key market institutions allows them to offer a broad range of investment options, including equities, derivatives, and mutual funds, catering to varied investment needs.

Cons of Fortune Wealth Management:

Lack of Regulation: This is a significant drawback, as regulations offer crucial investor protection in terms of financial security and dispute resolution mechanisms.

Geographical Focus: Fortune's prominence is primarily in India, which limits its reach and accessibility for investors outside this region.

Is Fortune Wealth Management Safe or Scam?

Determining the safety of Fortune Wealth Management requires a thorough assessment of various factors. While the company has a strong reputation for integrity and efficiency, it operates in an unregulated environment. This is a significant concern because regulations provide essential security measures and dispute resolution mechanisms for investors.

No license

Market Instruments

Fortune Wealth Management offers a range of market instruments to cater to various investment needs. These instruments include equity, derivatives, mutual funds, IPOs, and currencies.

Market Instruments

Equity: Equity refers to the ownership of shares in a company. Investing in equity allows investors to participate in the company's profits and growth.

Derivatives: Derivatives are financial instruments whose value is derived from an underlying asset. Common types of derivatives include futures and options, which allow investors to speculate on the future price movements of assets.

Mutual Funds: Mutual funds pool money from multiple investors to invest in a diversified portfolio of securities, such as stocks, bonds, or other assets. They offer a convenient way for investors to access a diversified portfolio without having to manage individual investments.

IPOs (Initial Public Offerings): An IPO is the process by which a privately-held company offers shares to the public for the first time. Investing in an IPO allows investors to buy shares in a company before they are available for trading on the open market.

Currencies: Currency trading, also known as forex trading, involves buying and selling currencies in the foreign exchange market. It allows investors to speculate on the exchange rate between two currencies.

Products

Fortune Wealth Management offers a range of investment services to cater to different client needs.

Products

Portfolio Investment Scheme (PIS): For Non-Resident Indians (NRIs), Fortune partners with Federal Bank to offer PIS services. This allows NRIs to invest in Indian equity markets on a repatriable basis.

Portfolio Management Services (PMS): In collaboration with Unifi Capital Chennai, a reputed portfolio management firm, Fortune provides PMS. With over 4000 crores of assets under management, Unifi Capital offers personalized attention and aims for best-in-class returns, aligning their interests with those of the clients.

Index Investing: Fortune enables investment in various indices such as Nifty, Sensex, Bank Nifty, CNXIT, and Midcap 100 through specialized software. This approach aims to help clients earn returns through low-risk measures associated with index investing.

Mutual Funds: Fortune guides clients in choosing the best mutual fund schemes from a wide range of options. They leverage their over 25 years of experience in the capital market to assist clients in investing lump sum amounts or starting Systematic Investment Plans (SIPs). Additionally, Fortune facilitates online purchasing and redemption of mutual funds through BSE and NSE's online platforms.

Daily Surplus Fund Management: Fortune helps clients earn risk-free returns on their current account balances through liquid and short-term funds, which offer annualized returns of around 7%. They also provide online platforms for investment and redemption, offering convenience to clients.

Services

Fortune Wealth Management provides a comprehensive suite of services in equity broking, derivative broking, commodity broking, online trading, margin funding, currency derivatives, and spot payment.

Services

Their equity broking service empowers clients with a highly process-driven approach backed by research and analytics, with a network of over 60 branches across India for in-person assistance. In derivative broking, Fortune offers similar advantages, allowing clients to trade in equity derivatives with a strong support system.

For online trading, Fortune offers a user-friendly platform through NOW, NSE's Mobile App, and ODIN terminals, making it easy for clients to trade from anywhere. They also offer margin funding at attractive rates of interest, allowing clients to fund share purchases. Additionally, Fortune offers spot payment to clients upon request when shares are sold, with no extra charges.

To enhance client knowledge and understanding of the stock market, Fortune conducts periodic one-day programs in association with NSE and BSE to educate clients about smart investing.

Account Types

Fortune Wealth Management offers Demat & Trading Account. To open an account, you need to fill in some necessary information, including your Name, Email Id, Mobile No. And City. When you open a trading account, there is a one-time fee of Rs 116.

fill in required info

Demat Account: A Demat (short for Dematerialized) Account is an electronic account that holds shares and other securities in electronic form. It eliminates the need for physical share certificates and facilitates easy and secure trading and investing in the stock market.

Trading Account: A Trading Account is used to buy and sell securities in the stock market. It is linked to your Demat Account, allowing you to seamlessly transfer securities between the two accounts when you buy or sell stocks.

Trading Platforms

Fortune Wealth Management supports multiple trading platforms. These platforms offer a range of features and functionalities designed to facilitate trading activities and provide users with access to real-time market data, research, and analysis tools.

NOW (NSE's Web Trading Platform): NOW is a web-based trading platform offered by the National Stock Exchange of India (NSE). It provides clients with a user-friendly interface to place orders, view market data, and manage their portfolios. NOW is accessible through a web browser, allowing clients to trade from any device with an internet connection.

NSE's Mobile App: NSE's mobile app is a trading platform designed for mobile devices, such as smartphones and tablets. It offers similar features to the web-based platform, allowing clients to trade on-the-go. The app provides access to real-time market data, news, and research, as well as the ability to place orders and manage portfolios from the convenience of a mobile device.

ODIN Terminals: ODIN is a popular trading platform used by brokerage firms worldwide. It offers a comprehensive suite of tools for trading and analysis, including advanced charting features, market scanners, and order management tools. ODIN terminals are typically installed on a client's computer and offer a high level of customization and flexibility.

Customer Service

Fortune Wealth Management provides customer service through various channels to ensure that clients receive timely support and assistance.

Telephone Support: Clients can reach Fortune's customer service team via telephone at 0422-4334333 / 30 Lines.

Fax: For clients who prefer to communicate via fax, Fortune provides a fax number at 0422-4334331.

Email Support: Clients can also contact Fortune's customer service team via email atinfo@fortunewmc.com.

Social Media: Fortune is present on social media platforms such as Facebook and LinkedIn. Clients can reach out to them through these channels for support and updates.

Conclusion

Overall, while Fortune Wealth Management offers a range of services and products with a focus on client relationships, the lack of regulation and geographical focus are factors to consider when evaluating its suitability as a financial service provider. We advise you to prioritize the safety and security of your investments and choose a well-regulated broker.

Frequently Asked Questions (FAQs)

Q: Is Fortune Wealth Management regulated?

A: No, Fortune Wealth Management operates without valid regulation.

Q: What services does Fortune Wealth Management offer?

A: Fortune Wealth Management offers a range of services, including equity broking, online trading, commodity broking, currency derivatives, margin funding, derivatives broking, depository services, spot payment, and investor education.

Q: What trading platforms does Fortune Wealth Management support?

A: Fortune Wealth Management supports NOW (NSE's Web Trading Platform), NSE's Mobile App, and ODIN terminals.

Q: What are the account opening fees for Fortune Wealth Management?

A: The account opening fee for a Demat & Trading Account with Fortune Wealth Management is Rs 116.

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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Broker Information

Company Name

Fortune Wealth Management Company India (P) Limited

Abbreviation

Fortune Wealth Management

Regulatory Status

No Regulation

Platform registered country and region

India

Company website
Phone of the company
  • +91 0422-4334333

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Company address
  • 1056, Avanashi Road, Opp The Nilgiris,Coimbatore 641018, Tamilnadu, India.

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Customer Service Email Address
  • info@fortunewmc.com

Company Summary

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