Orient Financial Brokers Review – Is This Another Fraudulent Trading Firm?
This broker allegedly operates since 1994 from Dubai, UAE. They as well state that the company works under SCA regulation ( Securities and Commodities Authority ).
If that is all true, we would be glad to recommend this broker. But we wanted to check everything out first. Our findings are described in this detailed Orient Financial Brokers review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Orient Financial Brokers|
|Supported Platforms:||Saturn and MT5|
|Cryptocurrencies:||Yes – BTC, BCH, LTC|
|Types of Assets:||Forex, Commodities, Shares, Cryptocurrencies, Spot metals, Futures|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Orient Financial Brokers Is Not A Licensed Scam Broker?
Something didn’t add up and that was DFSA – Tier 1 regulator in UAE. For trading outside of UAE, an SCA license is enough. Since they are trading outside, they should have Tier 1 regulation.
However, we checked the database of SCA, DFSA and other Tier 1 regulators like FCA, BaFin or ASIC. The results shocked us, especially in SCA. There is no information about Orient Financial Brokers broker. Therefore, we can say that this is nothing but a scam!
We don’t have anything to look for with a company that openly lies about its license. Orient Financial Brokers offers very low quality of user experience. A lack of important information and access to platforms is a huge disadvantage.
Arguments For Trading With a Licensed Broker
We were hoping that this was one good broker with a valid license. But dreams fell apart. This broker doesn’t provide any security for its clients. Since they are scamming traders from the UK, US and UAE we expected them to provide regulations from any of these countries.
Regulators provide security in case the company vanishes or if you have trouble with withdrawals. On top of that, while trading you have clarity on trading conditions and everything is transparent.
Orient Financial Brokers Software – How Safe Is The Platform?
We need to give credit to this broker for available trading platforms – Saturn and MT5. Very quickly after checking upon platforms, we realized that everything is false. Any regulated company is giving access to a demo account or to the platform itself. You don’t need to register or get approval from the company like with Orient Financial Brokers.
Saturn trader is a well-known platform and it would be a good solution if the company is legit. However, this broker needs to give you approval after registration to get access to the platform.
This is not reasonable and on top of that, the website doesn’t provide encryption. Which means that your information is not safe!
Saturn is apparently available for mobile and iPad, but this is a web trader. So, it should be accessed from any device. Unfortunately, we couldn’t check that because the company needs to approve account registration first. To check if you are eligible to get scammed.
This is an industry standard and we would always recommend looking for MT5. It provides a range of possibilities for trading analysis. Starting from social trading, EA tools and many more. More importantly, do that with a licensed company.
What Financial Instruments Does Orient Financial Brokers Include?
Revealing a thing by thing, we find that everything is fake here. Therefore, we won’t be sure what exactly assets they are offering. Apparently, they provide 6 different classes:
- Forex – USD/JPY, EUR/GBP, HKD/GBP
- Stocks – Intel, AMD, McDonald’s
- Futures – Apple, Nike, Amazon
- Cryptocurrencies – BTC, XRP, ADA
- Commodities – gold, platinum, silver
- ADR – American Depository Receipt
You should be very careful in trading these since all of the above is CFD trading.
Orient Financial Brokers’s Fraudulent Activities – What Are The Countries Involved?
There are not so many complaints online in Orient Financial Broker reviews. However, looks like they are scamming traders from:
It is not excluded that they are developing business and targeting some other countries as well. Anyway, be careful wherever you are coming from.
What Are The Different Orient Financial Brokers Account Types?
What we found devastating is that they don’t offer any live account types. After registration, the broker needs to approve your registration. Even though the minimum requirement is $3.000 and very high, the story doesn’t end there.
With a licensed company, the minimum is 10$ on micro accounts. So, there is no reason to waste $3.000 for nothing with this scheme.
Orient Financial Brokers Free Demo Account
We were expecting at least to get access to a demo account. But even that requires registration and approval from the broker. It’s not worth it. We suggest you start looking for another broker.
What Bonus Options Does The Broker Provide?
People think that bonuses are a good thing. However, if the broker doesn’t provide a strict Bonus Policy you can forget about withdrawal. That’s exactly why regulators are forbidding any kind of bonuses because it’s just a luring tactic.
This broker specifically offers bonuses for initial deposits, referrals and if you become an affiliate.
Orient Financial Brokers Deposit and Withdrawal Policies
The only available method that the company provides is a bank transfer. So, they are not even trusted by a Visa/Mastercard.
Withdrawals can take up to 2 business days. That is more than enough that they come up with some made-up fee that you have to pay. Or just to close your trading account without explanation.
Orient Financial Brokers Terms and Conditions
None of their terms and conditions shouldn’t be trusted because they are not regulated. Everything on the website is written to make you believe that they are an honest broker. So, we won’t even bother explaining anything when it’s fake.
Reality is different and we would never invest our money there. We already presented to you numerous reasons for that.
Scammed by an Orient Financial Brokers Broker? – We Want To Hear Your Story.
It’s not a shame if you get scammed. It can happen to anyone. It’s important to share your story to prevent other people get caught. Besides that, you can request a chargeback to get your money back!
What Is the Chargeback Procedure?
Every transaction is traceable. Bank transfer and card transfers. However, only with cards you can file a chargeback to reverse the transaction.
Since this broker only does bank transfers, it’s better to leave that to experts. Our experienced team can assist you with the first step in money recovery.
Get in touch today!
What Is Orient Financial Brokers?
This is another trading scam. A company that lies openly about having a license and practically everything else.
Is Orient Financial Brokers a Scam Broker?
To sum it up, yes. They don’t provide any license whatsoever or reliability. Stay away from this broker.
Is Orient Financial Brokers Available in the United States or the UK?
They offer services to both countries the US and the UK. This is strange considering the strict regulations of both countries.
Does Orient Financial Brokers Offer a Demo Account?
As per the company saying, yes. But to access a demo account you need to register first and get approved by the company.