Here are the 9 pros and cons:

Fortune Prime Global Fact sheet

Fortune Prime Global is regulated by several trading authorities from around the world, including:

• Vanuatu Financial Services Commission (VFSC) under license number 700507 
• St Vincent & The Grenadines Financial Services Authority (SVG FSA) number 1753 
• Australian Securities and Investments Commissions (ASIC) license number 400364

Generally, we can determine how safe a broker is by their regulators. The more regulators they have, the better it is for client safety. Since Fortune Prime Global is regulated by three different overseeing bodies this minimizes the safety risks for the traders and shows that they should be trustworthy. 

Additionally, the broker is a member of the Investor Compensation Fund and offers negative balance protection, with all client funds kept in segregated bank accounts. As such, all basic security measures are in place.

The trading assets offered for traders are rather moderate as only 75 total trading instruments are available on the Fortune Prime Global platform. But, the 40 currency pairs should include all popular pairs, and 15 cryptocurrencies are also a good number for cryptos.  Traders can trade these instruments with 1:500 leverage, with an initial account balance as small as 50 USD. The minimum lot size is 0.01 enabling micro-account-like possibilities for traders. All these specs offered by Fortune Prime are very budget-friendly and should allow traders with tight capital restrictions to start trading Forex and cryptos easily enough. 

There are two account types available, Standard and ECN. There are some important differences between the two. For a Standard account, the minimum deposit is $50, but for an ECN account, the minimum deposit requirement is $1,000. This is because for the Standard account there are standard spreads starting from 0.9 pips and no commissions while for an ECN account, the spreads start from 0.0 pips, but the commission is $3.5 per round turn. Leverage is 1:500 and there is the possibility of changing your account to an Islamic account. These account types should match most trading styles. 

Pros & cons of Fortune prime Global account types

Fortune Prime Global Standard account

The Standard account offers rather reasonable terms when compared to its ECN counterpart. The main features include:

• Minimum deposit of $50
• Minimum lot size of 0.01 lots
• Maximum leverage 1:500
• Execution type ECN
• EAs and hedging allowed
• Commissions $0 for each lot

As we can see, the standard account is for day traders who want to trade without commissions. This is especially important for day traders and swing traders, and small-budget traders and beginners should also find this account more attractive.

Fortune Prime Global ECN account

For scalpers and traders who like to open many trades throughout the day, an ECN account offers better terms and spreads. The main features of the ECN account include:

• Minimum deposit of $1,000
• Minimum lot size of 0.01 lots
• Maximum leverage 1:500
• Execution type ECN
• EAs and hedging allowed
• Spreads from 0.0 pips
• Commissions $3.5 per round turn

ECN offers spreads from 0.0 pips for a small commission and is suitable for scalpers. The minimum lot is 0.01, enabling traders with a moderate budget to trade with 1:500 leverage. 

Getting started on Fortune Prime Global – Main steps

For interested readers, we have set out a step-by-step explanation of the account opening process at Fortune Prime Global and will provide it below.

Step 1: Open an account

The first step is rather simple, just head to their main page, click on the registration button, and then start the application, and you will be redirected to the account opening page. Here some basic personal information will be required in accordance with regulations. 

Step 2: Time to verify your account

The verification process will also be simple, as traders will just have to upload proof of identity and proof of address documents to their client portals. The verification is usually done within 24 hours if all required documents are submitted to Fortune Prime Global. 

Step 3: Make your deposit and start trading

After verification, there is only one step remaining, and that is to make a deposit before you start trading. There are multiple deposit options available for traders including bank transfer, UnionPay, Dragonpay, Help2Pay, Payment Asia, and crypto. As we can see, the depositing options are abundant and the withdrawal methods are the same, making it very convenient for clients to deposit and withdraw their money.

Fortune Prime Global fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Fortune Prime Global fees compared to CM Trading fees

Fortune Prime Global fees compared to plus500 fees

Fortune Prime Global fees compared to XM fees

Fortune Prime Global fees compared to AvaTrade fees

Fortune Prime Global fees compared to Capital.com fees

Fortune Prime Global offers traders the well-loved MetaTrader 4 (MT4) trading platform. The platform has been around for many years and despite its outdated aesthetics, is still one of the top choices for many professional traders. MT4 is available on all devices and allows traders to  open or change orders on the go via a mobile app. It should be noted that there have been some issues with using the app on iOS devices due to recent changes in Apple’s policies, but Android and Windows users should have no problems. Additionally, the broker allows the use of Expert Advisors or EAs, the native MetaTrader bot system, and hedging is also available. 

MetaTrader 4 has a mobile app that is a bit limited when compared to its desktop counterpart but still offers a decent number of inbuilt indicators and chart analysis tools. As mentioned previously, the app is not currently available on iOS devices, but Android users will find much value in its use. The same account credentials can be used from all devices, making it easy to control trading when on the go. 

The learning materials are a tad limited and there are only a few bits of info on Forex and CFD trading on the broker’s website. Despite this, Fortune Prime Global offers dedicated account managers to all clients, irrespective of their account balance or account type. Additionally, the broker provides clients with continually updated market research and analysis articles.

Fortune Prime Global has 24/5 live chat offering assistance to clients on any issues or questions that may arise while trading. Additionally, it is possible to contact the broker directly with phone or popular messenger apps like Telegram and WhatsApp. Email is also available on their website. One thing that is a bit annoying is that you can not start a live chat without signing up. While this is by no means a deal-breaker when it comes to choosing a broker, it can be a pain for those who want to get some more information before deciding to open an account.

Fortune Prime Global is a regulated Forex broker that offers trading services to 10,000+ active users from 30 different countries globally. There are three independent regulators overseeing Fortune Prime’s activities, including Vanuatu’s VFSC, St. Vincent and the Grenadines’ FSA, and Australia’s ASIC. These regulators, especially the Australian authority, are highly reputable regulatory bodies making the broker reliable and legit. The broker values all trading styles and offers competitive spreads and low fees to appeal to wider audiences. The minimum deposit required for traders who want to trade with 0 spreads and low commissions is $1,000, for Standard accounts with zero commissions the minimum initial deposit is $50. The broker offers MT4 as its trading software (both PC and mobile versions) as well as web trading to make it easy to trade on the go. There are 75+ trading instruments offered in various asset classes including Forex, commodities, indices, and cryptos. Robo-trading is available through ExpertAdvisors and hedging is allowed. Educational materials are limited on the Fortune Prime Global website, but support is available via several methods, and live chat works 24/5.