Oro Markets Review- Blacklisted And Associated With Faux Payment Services
Oro Markets boldly claims that every choice is a winning choice with them. Traders could allegedly be complete beginners and still manage to make money as if they were Forex professionals, all thanks to this service provider.
With several blacklists and involvement with money laundering payment facilitators, this broker doesn’t quite live up to the expectations. Keep reading this Oro Markets review to get a detailed insight into the lengths and size of this scam operation.
|Regulated by:||Unregulated Forex Broker|
|Is This Company Safe?||No, regulators have confirmed this company is a scam!|
|Have Warnings from:||CNMV, FSMA, CONSOB, ATVP|
|Registered in:||SVG (alleged)|
|Trading Platforms:||Web trader|
|Deposit Bonus:||Hinted but undisclosed|
|Trading Assets:||CFDs on Forex, Crypto, Metals, Indices, Commodities and Stocks|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Illicit entities don’t allow payouts! Consult our legal experts for help!|
Regulators Warn About Oro Markets Scam
If there was a competition in the number of times blacklisted, this broker would be among the leading ones. The parent company, ECB7 CAPITAL LTD, is allegedly registered in SVG, yet SVGFSA knows nothing of it. It’s as if this firm doesn’t even exist.
The website also lists a US address, but neither is the broker an NFA member as a regulated entity. Since no info is published on the Oro Markets website about their license, we went through several registers and actually found warnings by CNMV, FSMA, CONSOB and ATVP. Some of these regulators have also blacklisted FX Winning for the same reason.
Who Got Tricked?
In their short pathetic existence of a few months, this faux broker has been spreading their poison to various countries:
- United States
The victims are triggered to invest with presentations about fake profit generated from the platform data manipulation.
Skilled and verbally aggressive scam agents will persistently convince you to invest in enticing deals that only sound good on paper and over the phone. In reality, your investments are immediately snatched and you’re left skint.
Visibly Fake Trading Conditions
To motivate their victims into mindless investing, the brokerage brand in question is full of lies. These pertain to quite attractive trading conditions like low trading costs that are as low as 0.03 pips.
The leverage on the other hand is an example of rule-breaking, considering it climbs to an astonishing 1:500, while 1:30 and 1:50 are where Tier 1 regulators have applied limitations. The same leverage is offered by InvesaCapital – the same type of fraud.
Other fees remain unrevealed. Legal docs only state that any occurring fees and commissions are derived directly from the trader’s account balance, which is another regulatory breach.
Although the broker will have you believe their random bonuses are a gift from heaven, don’t get ahead of yourself. These are also banned by reputable regulators and this firm is a proof why.
Terms say that only after reaching a trading volume requirement do these amounts become permanent on your account. The exact expectation is left unsaid.
Lacking Features And Defunct Tools
The false trading platform present at the website won’t bring you trading success. Besides the bogus software, the account types offered are just as unrealistically described. Trading instruments suggested are standard, but no genuine trading is done here anyway, so that is completely irrelevant.
MT4 As A Promise Only
The Oro Markets platform is a poorly designed and insufficiently equipped web-based terminal. Market data presented is not accurate and there aren’t many options customization-wise.
Fraudulent websites like this one often promise premium platforms like MT4 only to get you to sign up. After we did that, we found no working download links.
Access To Markets
Although the defunct web trader is of little use in trading, several instrument classes are still advertised as available:
- Crypto (Bitcoin, Ethereum, Litecoin and 25 others)
- CFDs on Forex (EUR/USD, USD/JPY, EUR/GBP)
- CFDs on Stocks (Nike, Instagram, British Petroleum, Apple)
- CFDs on Indices (FTSE 100, S&P 500, Wilshire 5000)
- CFDs on Metals (gold, silver, platinum)
- CFDs on Commodities (Crude oil, natural gas, petrol)
Fake Variety Of Packages
All of the Oro Markets accounts are marketed as particularly tailored for a certain type of traders. That’s how the website speaks of customized accounts.
Packages are promised for beginners and professionals but without concrete features discussed. Another information clearly opted out is the deposit requirement for each account type:
Legal Docs Deny Withdrawals
If there’s still something shocking about the Oro Markets scam is the fact that their legal docs are pretty clear on withdrawals.
You see, the single line that refers to this service in the entire document claims that “The service of withdrawals is not available”. And that is it! So you’re forced into investing only to trade on buggy software and never to be able to see your profit or deposit again.
We’ve already established that the SVG address given is probably fake. So you will never be able to locate the firm’s office.
Apart from that, there’s a phone and an email address that no one answers to. The online form is easily filled and submitted but nothing guarantees a reply to it either.
Re-claim Your Investment
Money is impossible to make with dishonest and unregulated service providers like Oro Markets, Malfex and others. The only purpose for their existence is quick money gain through cyber thievery.
Please consult the authorities as soon as you’re suspecting your broker dealer runs a financial sham. Our legal professionals can also help you perform a chargeback and get your funds back from the shameless con artists. Our consultations cost nothing, yet could help you enormously.
Is Oro Markets Regulated?
No, this platform is completely unauthorized to sell their products and services.
What Are The Oro Markets’ Platforms?
The website advertises MT4 but no download button works. Only the web terminal is somewhat functional.
Does Oro Markets Offer a Demo Account?
No, despite the claims that they do, Demo also requires a payment first.
How To Get Money Back From oro-markets.com?
You can leave it to our legal advisors to get back your funds quickly and hustle-free. Book a free consultation at any point, via our Online chat.