Thinking of getting into business with Fortexo? Here is what you must know about this broker. Carefully read this review to find out if fortexo.co is the trading platform you will want to trade with.

About Fortexo Broker

Fortexo is an offshore brokerage company with a lot of promises for traders. The broker operates under FLAB GROUP LTD with an address in Saint Vincent and the Grenadines.

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There are different account types the broker offers. See below.

Account Types

To clarify, regardless of the trading instruments Fortexo claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.

fortexo.co: Reasons to Avoid This Broker

Firstly, fortexo.co is a platform with no financial authority overseeing its financial services. We discover this broker is not worth your money because Financial Conduct Authority UK has blacklisted the broker as unlicensed.

FCA Warning

In addition, we want you to know brokers operating in St Vincent and the Grenadines are not subject to regulation.  

Warning

Secondly, we noticed fortexo.co has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.

More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Withdrawal and Deposit

Withdrawal process

Under withdrawal policy, Fortexo withdrawal process takes 2 to 5 working days. The broker presents us with the following info: $50 for Wire transfer, $25 for Credit cards plus $10 processing fee and $25 for ewallets.

Minimum Deposit

Fortexo minimum deposit is pegged at $1,000 according to the account type.

As for the payment methods, the broker accepts Credit cards, Bank Transfer and other online payments. Truly, you should not consider making any payment with this broker because it is a risk. So beware!

Fortexo Platform

Fortexo offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.

As for the leverage, there is nothing to discuss. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Fortexo Licensing and Regulation

It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

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Minimum Trade Deposit $100

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Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

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Conclusion: Is fortexo.co a Reliable Broker?

No, fortexo.co does not seem like a reliable broker for traders even though it promises offers that look good to be true.

Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.

Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.

Kindly share your comment about this broker in the comment section.

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By Dan

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Johan Vangelabbeek
Johan Vangelabbeek
9 months ago

Dear Sirs Dear Madame Fortexo was going to release my profits. In order to do so I needed to pay 20000 euro bankinsurance and 15000 euro costs for transfer of profits. I even paid 60.000 euro and didn’t receive any profits. The costs I paid aren’t returned. We are now in debts and deep misery SOS

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