OFBM (Onlinefinancialbinarymarket.com) is another Binary Options, CFDs, Crypto Currency, and Forex scam. OF BM is claiming to offer Crypto Currency on the world’s leading trading platform. With a well-choreographed website, it is easy for newbies to fall for this trap. Members are already crying foul after their withdrawal request was dismissed. Online Financial Binary Market is another platform to avoid. Read this genuine and honest OFBM Review for more details.
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When you read some comments from members of this platform, you will be touched. It seems OFBM is intentionally stealing from anyone who deposits funds with this platform. With such illicit transactions going on, it is our duty to expose these scam artists. Whoever signs up with OF BM is likely to lose all their deposits. What these scam artists are doing is despicable and outright malicious. Anyone who signs up with these scam artists should expect nothing less than a horrific trying period.
Scam artists have been using the same tactics over and over again. First, they create an enticing websites which attracts the eye. Newbies are targeted since they believe anything they see posted on these websites. Empty claims and promises are also used to lure investors to sign up. These claims involve making a huge profit in record time. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Keep reading this post and find out tricks used by OFBM scammers.
According to information posted on their homepage, they claim to be based in Canada and the UK. Disclaimer at the footer of the homepage claims they have been in the market for more than seven years. After asking around, none of the binary options traders we know has ever heard of this platform. And this is why you need to draw the line with these scam artists. What they are after is you funds and nothing else. Avoid these scam artists by knowing the tricks used to scam unsuspecting investors.
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Apart from claiming to be based in Canada and the UK, they claim to have offices in New York. A problem with this statement is no one knows the actual people running this website? If they have seven years of trading experience, why not share information regarding the founding members? Are they willing to share information regarding the names of people running this website? What these scam artists are doing is simply throwing lies and expecting everyone to believe them.
Another shocking detail with OFBM is lack of proper license and registration. Regulation is not confirmed as we don’t see any information regarding their license number. Company behind this platform is also not registered in any Company register. With claims of being based in Canada, New York, and the UK, they should be dully licensed. Any broker from any of the three regions mentioned above must be licensed by proper authorities. We reached out to authorities to confirm their status.
In Canada, we reached out to IIROC and CSA which all discredited this platform. United States authorities such as NFA and SEC have never heard of this platform. The FCA in the UK is planning to blacklist this platform after receiving complaints from members of the public. No one should trust an unlicensed entity as they don’t meet the required standards. Investors are warned not to engage with this platform as it is operated by offshore brokers. None of the statements on their website holds any ground.
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After reviewing their entire website and comments, we are sure no advantage is forthcoming. Scam artists should be plucked out of the trading world and OFBM is one of them. Experts have warned this trend will continue unless the website is shut down. If you are thinking of opening an account with this platform, we suggest you stay away.
OFBM is furnishing users with four different account types. These plans are listed as Starter, basic, Pro, and executive. Starter account, which is the most basic account starts trading at $500. It should be noted the acceptable minimum requirement to start trading is $250. Another disturbing issue is with the bonuses which is a well-planned scam move. Once you accept the bonus, you will never be able to withdraw funds until you deposit the bonus amount.
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When it comes to the depository channels, this platform has made depositing easy and fast. Some of the depository channels include Bitcoin, MasterCard, MoneyGram, PayPal, Skrill, and Western Union. A huge problem still remains withdrawing as none of the members has achieved this fete. Whatever you do, ensure you check whether a platform allows withdrawals before signing up. OF BM does not include withdrawal terms in their legal agreement page which is sketchy.
Lack of a demo account is proof these scam artists are up to no good. A demo account gives users a chance to test how well a platform works. Is their platform fast when executing trades? Without a demo account, users are simply signing up without knowing what to expect. It would seem these scam artists want you to sign up and start trading with their unproven platform. No one can say for sure whether they use MT4, MT5, Sirix, XStation, or a custom made platform.
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How can funds be safe with a broker who doesn’t have a secure website? If you look closely at their website, it lacks the basic of security features. Hackers can easily steal personal information and use it for identity theft. Segregation of accounts is not followed as OFBM is pooling funds in one account. It is also possible users are depositing funds to the owner’s personal bank account.
After checking all aspects of this website, we are convinced OFBM is a scam. Mark all their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from joining any of their affiliate programs.
Adding this scam to our blacklist will protect our readers from signing up. Such scams should be exposed and authorities shut them down. It is a pity unsuspecting online investors are still signing up with this illicit platform. Stay away from these scam artists and start making the right decisions.
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Wishing all investors a happy and prosperous trading experience.
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