Fortune Trading

Fortune trading is a Chennai based discount stockbroker with its establishment as early as 2004. It claims to have a client base of more than 25,000 with major chunk coming from southern India.

Even though Fortune trading is a discount broker, they have a running partnership with multiple business associates and branches across major cities of the country.

Let’s learn more about this broker in this detailed review.

Fortune Trading Review

Fortune Trading has memberships from exchanges including BSE, NSE and MCX allowing its clients to trade across:

• Equity
• Derivative Trading (Futures trading & Option trading),
• Currency Trading
• Commodity Trading

This full-service stockbroker has an active client base of 4,295 which is one of the lowest counts in the overall stockbroking space in India.

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Fortune Trading Trading Platforms

Fortune trading basically offers three trading platforms across Desktop, web-based and mobile applications. The mobile app is the only in-house developed trading application while the rest 2 are NSE based trading softwares. Here are the details:

NEST

NEST is a terminal-based trading software designed and developed by Omnesys technologies. This trading platform is used by multiple stockbrokers through a license and so is the case with Fortune Trading.

You, as a client, would be required to download and install the software and enter username and password provided by Fortune Trading to carry on your trading.

Mostly suitable for heavy traders, NEST comes loaded with the following features:

• Provision to add market watch across segments
• You can place orders post market hours
• Live access to market quotes, news and other relevant information
• Charting feature for technical and fundamental analysis
• Clients can personalize themes, notifications and alert types as per preferences

Here is how NEST looks like:

NSE Now

NSE Now is basically a web-based trading solution that can be accessed using any prominent browser such as Chrome, Internet Explorer, Firefox etc. You, as a client, don’t need to download or install anything to access trading. And the best part is, this can be accessed from any device be it, a mobile, laptop, tablet or a desktop.

NSE Now is responsive in nature and takes care of the screen resolution by itself, thus, providing you with optimal user experience. Here are some of the features of NSE Now:

• Lightweight application
• Multiple charting types with technical indicators
• Different order types allowed
• Easy fund transfers

Here is the look and feel of NSE Now application:

Fortune Trading Mobile App

The mobile app is the only in-house developed trading platform from Fortune Trading. Furthermore, the mobile app is just average in performance and still has a lot to cover in terms of performance, features and overall user experience. Some of the features the mobile app offers to its users are:

• Provision to create multiple market watch lists
• In-app notifications and alerts can be personalized
• Real-time streaming of market quotes and news

However, at the Google play store, the stats provide a mediocre image to the app, as shown:

 

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Fortune trading Customer Service

This full-service stockbroker offers the following communication channels to its clients for support:

• Phone
• Offline branches
• Email
• Web-form

If you are looking to reach out to this stockbroker, you can get in touch between 8 am to 8 pm on weekdays and 8 am to 4 pm on Saturdays. No support is provided on Sundays.

The broker has limited options opened up for its clients and still has not embraced online mechanisms for quicker resolution. Furthermore, even if we talk about the quality aspect related to customer support, there is a lot that the broker needs to improve including the response time, quality of resolutions to go along with the overall understanding the executives carry about the stock market in general.

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Fortune trading Charges

Here are the details on Pricing of Fortune trading:

Fortune Trading Account Opening Charges

This is what you need to pay upfront for opening your demat and trading accounts. Furthermore, there are annual maintenance charges (AMC) involved as well that need to be paid on a yearly basis:

 

Fortune trading Brokerage

Brokerage charges are definitely one of the most important aspects you need to be aware of before you pinpoint on a specific broker. Full-service stockbrokers such as Fortune Trading, charge brokerage in a percentage of the overall trade value.

These percentage values are always open to negotiation and will increase with an increase in the value of your turnover amount. Furthermore, there is no maximum limit on the brokerage that can be charged on your trades:

 

Use this Fortune Trading Brokerage Calculator for complete charges and your profit.

Fortune trading Transaction Charges

 

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Fortune Trading Disadvantages

Here are some of the concerns of using these services of this stockbroker:

• A limited number of trading and investment products
• Less focus on technology with only one in-house trading platform (mobile app) and that too is mediocre in performance.
• Fortune trading margin is pretty limited.

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As per the latest records of this financial year 2018-19, 4 clients of this stockbroker have raised complaints against the broker making the complaint percentage 0.08%. Industry average at the same time is 0.02%.

Not good news for the broker.

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Fortune Trading Advantages

At the same time, here are some of the positives of using Fortune Trading as your stockbroker:

• Free account opening and maintenance charges
• Stronghold in South India
• Even though Fortune Trading is a discount broker, they do have offline branches for their clients
• Decent customer service

Looking to have a word for Account Opening? Provide your details in the form below and we will set up a call back for you:

 

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More on Fortune Trading:

If you wish to learn more about this broker, here are a few reference links for you: