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FSL review

FSL


On-line since: 1994
Country of origin: Pakistan
Regulation: SECP
Payment options: bank transfers, checks
Minimum account size: PKR 25,000
Minimum lot size: 0.01 lots
Leverage: -
Spreads: -

About the company:

Established in 1994, Fortune Securities Ltd (FSL) has become one of the leading members of the Karachi Stock Exchange (the largest of the three Pakistani stock exchanges).

FSL offers brokerage and advisory services to its retail and institutional clients. Fortune Securities is registered with the National Commodity Exchange Limited (NCEL). The NCEL is regulated by the Securities and Exchange Commission of Pakistan (SECP).

SECP supervises and regulates brokers, insurance companies, and non-bank financial companies. SECP does not impose any requirements on the broker's assets. Besides, there are no compensation programs for investors.

Brokers, under SECP, are required to keep their clients' money and securities in segregated accounts. This requirement was introduced so that the company could not use the clients' money for their own purposes and benefits.

If you plan to invest a large amount of money, it is more preferable to look for companies with stricter regulation.

FSL subsidiary Fortune Islamic offers the Islamic business support services.

Trading conditions

You can start working by depositing PKR 25,000 ($237.20).

A trader can open an account with shares or securities with a minimum deposit of PKR 5,000.

The registration of a new user usually takes 4-6 business days, but it can take up to two weeks.

The company is a partner of the world's largest consulting firm ASHLAND and Partners, based in the United States. FSL strives to provide advisory services to investment managers.

Educational program

The company conducts training programs in the following areas:

  • Islamic finance;
  • Financial modeling;
  • MS Office and MS Project;
  • Project management;
  • Sales department management.

Customer service

To gain additional information, you can contact the customer service via phone or e-mail. FSL claims to have a highly qualified and experienced institutional team of specialists with knowledge of the markets.

Payment methods

You can deposit money via bank transfer, check, or cash at offices located in Karachi, Pakistan.

Pros:

  • Regulated broker.

Cons:

  • No platform description.

FSL 1/10 (votes 2183)
Author of FSL: Oloan | Date 2021-06-11
I don't have a satisfactory experience with FSL. I have to tell to all of you that I was regret and will never join Atom8 again for the future. They didn't want to accept my request to withdraw. They have stolen my money. I don't think I would be able to stay with this broker for quite a long time. My trades go against me.
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Author of FSL: Manood | Date 2021-01-21
FSL Brokers has fixed spread and perfect execution on the MT4 platform, So I've tremendous success in scalping at the market, I can manage my investment to reach $1K. I have several withdrawals through Skrill account. So I am satisfied with Pakistani FSL Brokers so far.
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Author of FSL: Karaki | Date 2020-11-13
To be honest, I am disappointed with the services that FSL offers. Their platform is terrible. I tried to report the issue to the company but they are ignoring it. The platform frequently crashes and I can no longer make any decent trade.
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