Fruition limited (fruimarkets.com) is a contract-for-difference brokerage, with its domain registered on August 27, 2024. The company primarily offers investment services in trading markets such as forex, precious metals, crude oil, indices, and cryptocurrencies, but it does not provide services to countries and regions where doing so might violate local laws or regulations.
Company Registration Information and Regulatory Status
Public information on Fruition limited's website indicates that its headquarters are located at 286 Euston Rd., London, making it one of the 50 largest financial services companies in the UK. However, the broker's website does not disclose further registration details or regulatory status. Additionally, it lacks terms of service documents, and the pages for privacy policy, risk warning, disclaimer, etc., are rather rudimentary, lacking substantive content.
Upon investigation, the UK Companies House website lists a company named Fruition limited. However, due to the lack of concrete registration information on fruimarkets.com, it is unclear whether there is any connection between the two entities. Furthermore, the Financial Conduct Authority (FCA) in the UK shows no regulatory records for Fruition limited.
Trading Instruments
Fruition limited offers a variety of financial derivatives for trading, including forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Offers dozens of major currency pairs including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
- Precious metals: Provides spot trading for metals like gold (XAUUSD) and silver (XAGUSD).
- Crude oil: Offers U.S. crude oil (USOIL) trading.
- Indices: Includes trading of indices like Nikkei 225 (N225), DAX 30 (GER30), S&P 500 (US500).
- Cryptocurrencies: Offers trading in numerous major digital currency pairs, including Bitcoin (BTC/USD), Ether (ETH/USD), Ripple (XRP/USD), among others.
Account Opening Process
The account opening process on Fruition limited's official website is as follows:
- Visit the website and click the "Register" button on the homepage to access the account registration page.
- Fill in the email address and set a login password in the account application form. A verification code will be sent to the email provided.
- Enter the verification code in the application form and submit it to complete the account registration.
- After logging in, users must complete KYC identity verification to make deposits and trades.
Account Types
Fruition limited's website lists only some account information such as spreads, trading leverage, and contract size. However, key trading information like account types, trading commissions, minimum/maximum trade volume, maximum position/order volume, margin call/stop-out levels, and minimum price precision is not clearly listed.
- Base currency: USD
- Spreads: Floating spreads, starting at 1 pip.
- Trading leverage: 1:100
- Contract size: 1 lot = 100,000 units of currency
Trading Platforms
Fruition limited claims to offer a trading platform named ST5, supporting only web and mobile operations. It asserts that this platform includes over 50 technical indicators and intraday analysis tools, suitable for advanced traders. When clicking the mobile download link on the website, users download an app named Blockexa from the App Store, while the download link on Google Play does not exist.
Deposits and Withdrawals
Fruition limited does not clearly state the supported deposit and withdrawal methods, related fees, or minimum deposit and withdrawal amounts on its website.
Summary
Traderknows alerts investors that Fruition Limited (fruimarkets.com) is actually a fraudulent website lacking a proper corporate entity and regulation. The contact options provided by the site are very limited, with only email available for communication. Investors are advised to choose brokers that are transparent, strictly regulated, and reputable to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
