OboFX Review: Obnoxious Forex Broker Scam Exposed.

OboFX Review: Obnoxious Forex Broker Scam Exposed.

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OboFX ( is a Forex broker on the loose. Obo FX has been mentioned a couple of times and its mainly negative feedback. Complaints have been sent to us left right and center regarding OboFX and how members are scammed. One such member is Maxwell who lost his entire savings with this broker. Read through this detailed and honest review to find out the whole truth.

OboFX Review

OboFX Review:

What we first saw from the site was the overall color that nearly blinds us. Honestly, the lighting of the website is too much. Plus, the homepage isn’t user friendly as there’s too much information going around. What’s more we found other disturbing details regarding OboFX. Bonuses was the first red flag that we must mention and also that Obo FX is an offshore brokerage house.

OBO holding is the company behind this ingenious platform which we have a problem with. Company itself is not registered and we will be revealing proof of this. It should be noted that OboFX does not accept clients from the U.S, Canada, and Japan. Guess why this is not possible? It’s because these governments are shielding citizens from scams such as OboFX. It means they have been banned from these three countries.

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Fake OboFX Awards.

At the top of their homepage, one can easily see a number of awards Obo FX claims to have. Some of these awards include being a globally recognized broker. This is simply a lie; we did not even know that such a platform ever existed. Why would we be dealing with a fake broker. OboFX is not recognized anywhere in the world since it’s an offshore broker to start with. No one deals with these brokers.

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According to the website, OboFX has won four awards. No one can claim to know the awards that this broker possesses. They also claim to be a tier one liquidity provider, which is all lies. No member has been able to get this liquidity. Claims of being a true ECN and STP broker are also fake. Why haven’t they posted these certifications and awards? It would have made us believe what they are selling.

Account Types being Offered.

OboFX Scam

OboFX offers four different account types to members. These account types include Micro, CurrencyX, Premium, and Zero. What’s funny with Micro account is that the minimum required trading deposit is $1. This is way less than the acceptable deposit of $250. It means that we are dealing with a low standard Forex broker. Only a lowly placed scammer would ask for $1 for members to sign up.

These other accounts have a deposit of $500, $1000, and $25000 deposit account. Nobody one should sign up with these accounts since they don’t offer anything extra. Just the Zero account holder gets a personalized accounts manager. Nobody knows for sure whether this accounts manager is a professional or not. For all we know, this account’s manager could be a third-party scammer from Africa.

Fake Top Trader List.

One of the biggest tricks that’s easy to spot is their top trader list. Only one trader is one the list. A guy by the name Nick is apparently the top trader in this firm. You can see the name Nick listed from number one to ten. Does this mean that there are no other traders with OboFX? What about the trading volumes? There’s no mention of any trading data that Nick has done. It simply means we are dealing with a hoax.

It makes us doubt Obo FX legitimacy and fact that we believe your name will never appear there. Even if you trade every day, your name will never appear since this is a fake broker. As we earlier said, all what OboFX Wants you to do is sign up. After members sign up and make deposits, there’s no way of ever getting your funds back. Best thing to do is avoid this broker and avoid their promotional materials.

Fake Live Support Chat.

OboFX Fake Review

Another disturbing detail we found with OboFX is that their live support takes ages to respond. How comes they don’t have a live support team? With this day and age, you would expect these scammers to have a live support team. OboFX is simply toying with us, no one can trust them especially because they don’t have a live chat. In case one has a serious problem, one would have to wait for hours.

How about the call to connect via other social media platforms such as FaceBook? It’s obvious that if live support chat doesn’t work, FaceBook doesn’t work either. These scammers just want you to make contact, once you do so, they will bombard you with emails. You are required to leave your email address with you and this is what they are after. Email address to bombard you with promotional materials.

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Fake Trading Platforms.

Another disturbing detail we found with OboFX is their platforms. According to the website, this broker offers MetaTrader5 platform. Problem we faced with this platform was getting to download it to our device. Nobody has been able to download the platform to other devices. Problem was, download would not complete. It means that this platform is unstable and prone to attacks.

An unstable platform ensures that you will never trade safely. It’s easy prey for hackers to get steal personal data from such platforms. Hackers can easily gain access to these platforms and steal your credit card information. Worse still, these hackers can steal your identity by using this unstable platform. Now you see why we are against the use of OboFX. It’s not safe nor is it secure for you to use.

Is OboFX a Scam?

OboFX is indeed a scam that should be avoided. We hope that the relevant authorities will look into it and shut the operation down. Nobody should be subjected to such obscure platforms. Make sure you stay away from Obo FX and all of its affiliate. Best thing to do is mark all their emails as Spam. Hit ignore when you’re asked to click on a link, this could be malware sent to you.

OboFX Final Verdict.

OboFX Scam Review

Our stand with this platform is simple, stay away from it as you possibly can. Only option left for us is to blacklist OboFX as a known scam. Stay safe while trading Forex and get the best out of Forex trading by having the best Forex products by your side.

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3 Replies to “OboFX Review: Obnoxious Forex Broker Scam Exposed.”

  1. Well said! You are absolutely right. They have 2-3 staff members and few clients and telling people that we have hundreds of staff available 24/5 and thousands of clients. haha! When you will face any problem in your account and try to call them, they will pick your call only once and then will ignore you are block you even your account without any reason. One big scam I found in its platform that is, one standard lot (1 volume = 100000 units) rate is $10 but they give you only $1. So they confiscate your $9. When one of my friends asked them the reason, they blocked his account.

    1. Dear Hussain, Please get your facts right. It is not necessary for the volume 1 to stand for 100’000 units standard lot. In some brokers volume 1 may represent 10’000 units ( mini lot).
      so if you place a trade of vol 1 in eurusd than your spread charged will be 1-2 USD. and each pip value be 1 usd.

  2. I am quite surprised by the article. Infact i have been trading with Obofx since 2015 and I have never been in any complications with them except few days back when I demand withdrawl they were unnecessarily delaying without any reason. Except that I have find them well.

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