Orotrader Review – Completely Anonymous Broker Luring Spaniards
Orotrader broker is quite conservative when it comes to sharing legal documents and company information. However, KOI Global LLC registered in St. Vincent and Grenadines is exposed as their official owner.
Since 2020, the company is annihilating people from Spanish-speaking areas. But how they manage to do that and how to protect yourself, you can find in this detailed Orotrader review.
|Regulated by:||No regulations|
|Is This Company Safe?||No|
|Have Warnings from:||CNMV, FSMA|
|Registered in:||St. Vincent and Grenadines|
|Trading Platforms:||Sirix, MT4 (allegedly)|
|Trading Assets:||Forex, Commodities, Indices, Shares|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||With a warning from trusted regulator CNMV, we can’t trust this broker. If you already did, you can request a consultation with our experts for a|
Legal info: Is Orotrader Legit or a Scam?
In general, entities registered offshore should opt for a Tier 1 trusted license. In this case, it would be FCA, BaFin, ASIC and CNMV. Especially after collaboration with Ventura Group – their software provider.
Yet, none of these databases has records of Orotrader scam broker. Instead, Spanish CNMV has issued a public warning against this broker already in 2021. It was republished by Belgian FSMA.
Who Are Orotrader Clients?
Orotrader scam broker knew exactly what they want since day one in 2020. The company is mainly luring traders that are speaking Spanish. Some of the scammed traders are coming from:
If you are coming from this or any other country, but you were scammed by this broker, send us a message. Our team can build you a strategy for fund recovery process already today!
Leverage, Commissions, Spreads and Fees with Orotrader
In fact, the Orotrader scam broker tells you openly they are scamming you. They don’t reveal any trading conditions, except for the $50 inactivity fee, they will charge every month after 60 days.
But even after the registration, it’s questionable if you are going to get anything they promise to you. Remember, they are not licensed and they got a warning. Not without a valid reason.
Orotrader Trading Features
The company is quite mystic about its trading software. Sadly, Orotrader login is only available for registered users and you don’t have a demo account.
We completed it and the only available platform is web trader. They claim to provide Sirix but also MT4 through Ventura Group. This might be true for ones with deposited money. Even though social trading is available, it can’t be trusted.
Available Trading Assets
Only after registration, we were able to check the tradeable instruments. On the negative side, such information is not available before signing up. Nevertheless, the offer is quite poor and you can choose between:
- Currency pairs: USD/GBP, GBP/JPY
- Commodities: gold, crude oil
- Indices: DAX30, IBEX
- Stocks: Pfizer, Tesla
Account types with Orotrader scam broker don’t offer anything either. There are three choices without any precise offer and trading conditions. Everything is designed to confuse you and it’s hard to believe anyone can trust this offer. Your choices are:
- Professional trading
- Investment for retirement
- Fixed-term accounts
Important to realize is that the minimum deposit requirement is not revealed.
Mobile Trading App
To make everything even worse, Orotrader software is not available on iOS and Android devices. Therefore, traders can only use the Orotrader website to get access to their accounts. Generally, this is dangerous because the broker might manipulate market data through the back end.
The lack of a demo account is another warning sign. Obviously, the company is hiding something. Therefore, you should stick to licensed brokers with way more transparent options.
Education with Orotrader scam broker is available through their academy. Thus, another dirty trick to get your contact details is to register to get access to the material. Such as ebooks, news, calendar and glossary.
Orotrader withdrawal is most likely not possible. The company has everything designed to prolong the withdrawal. Shady software, shady conditions and even shadier policies.
Therefore, don’t raise much hope about withdrawal. Because it never happens that an offshore broker without regulations is created for good.
Customer service and representatives play a key role in the trading world today. With many shady companies, having your broker on a speed dial is crucial. Yet, Orotrader didn’t bother with that.
None of their contact options is publicly available. This makes them even more suspicious and for avoidance.
Key Information To Consider About Orotrader?
Generally speaking, you can only do a few things. But the rest is the best to leave for professionals. Let us know first what’s your experience with this broker. But also if you reported it to the authorities.
In case you didn’t do it straight away and seek a solution. In case you can’t get a refund or you want to do it faster, feel free to contact our expert team. You can get in-detail guidance on the next steps through the recovery process. Don’t hesitate to send us a message.
Is Orotrader Licensed?
No. Orotrader is licensed neither in St. Vincent and Grenadines nor in any other Tier 1 regulated country.
Who Is The Founder Of Orotrader?
The founder of Orotrader is KOI Global LLC, a company incorporated in St. Vincent and Grenadines.
What Are The Orotrader Trading Platforms?
The company advertises Sirix and Meta Trader. But you get only a web-based platform. If you had difficulties with this platform or broker, contact us for assistance.