Omega FX (Omegafx.io) is a CFDs and Forex broker scam that must be shamed for their foul practices. OmegaFX is claiming to offer Forex, stocks, commodities, indices, and Crypto currencies. Mandy Brown is the latest victim of this fraudulent broker. She sent an email to us detailing how she lost over $2000 with OMEGAFX. This led us to start a thorough and conclusive investigation. Here’s what we found out.
Most investors sign up with brokers without a second thought. Problem with newbie investors is that they never take time to investigate a broker. And that’s why reviews were created, to give a clear picture of what to expect. This broker has what seems to be an ideal homepage for a broker. They have a user-friendly website that easily appeals to the naked eye. Don’t believe everything you see, there’s more than meets the eye.
What scammers do to prey for their next victim is offer irresistible claims and promises. They know for a fact that we all want to make an extra buck or two. What they have done is create a situation where they claim to help investors make money. In most cases, they claim to offer investors high and quick returns within a short period of time. Folks, this practice should stop and we will reveal all the dirty tricks used by OmegaFX.
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Looking at the disclaimer on the footer of their homepage, there’s no information regarding actual owners. This is weird in that this is usually where brokers clearly show where they are registered. Omega FX clearly skips this process and we believe they do this for a reason. They don’t want to be contacted by anyone. OmegaFX wants to remain as anonymous as they possibly can be.
Contact us page says a different story as they claim to be situated in Estonia. Folks, we simply can’t believe what they claim. Why have they failed to inform us about their physical address? Anonymity is a dangerous character to have for any broker. And this is why we simply can’t advice signing up with Omega FX. These brokers simply want users to sign up and deposit funds without asking any questions.
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Since we don’t know where this broker is originally from, its safe to say, Omega FX is not licensed. This broker has never been registered anywhere on the face of the planet. How comes that this broker has not put up their registration document? Where is their registration number if they actually have one? This is a classic Forex scam that we intent to root out of the Forex trading world.
A legit broker would easily have posted their registry details on one of their pages. Sadly, this broker does not at any point reveal their licensing. What they should have done is post their documents for verification purposes. Clearly, what’s happening here is that this broker simply wants to remain anonymous. They don’t want any interference from their victims or law authorities.
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According to their platform page, they claim to use MT4 platform that is revolutionary. This platform apparently offers one-click trading with interactive charts. What’s more is that this broker has over 30 indicators for technical analysis. Could these all be true? We tried downloading the platform to try and verify their claims.
Sadly, download stalled and stopped at 47% which is bad news for any investor. This means that their platform is unstable and easily prone to cyber-attacks. This platform will leave users vulnerable to hackers who find unstable platforms as easy prey. Hackers take advantage of unstable platforms by stealing personal data and credit card information.
Another disturbing feature we found with this platform is that there’s no Live chat support team. How do they expect users to get help when need arises? This broker is simply out to cause mischief with the rest of us. During our investigation, we filled this form and have not received any feedback from this broker.
What this means is that this broker wants to remain anonymous. Folks, never deposit money with a broker who is not willing to talk to you. Least thing they would have done is offer bot services. Time is always of the essence with Forex trading.
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By now, you have already seen the cracks with Omega FX. Funds will never be safe with an anonymous broker. This broker will without a doubt guarantee user to make losses. Take an example with how members deposit. Did you know that members maybe depositing money straight to the owner’s personal bank account? There’s no way that anyone can prove otherwise since this broker is anonymous.
What’s more troubling with this broker is that they don’t segregate accounts. Funds are pooled in one account which is a dangerous practice. In case of bankruptcy and insolvency, funds will be lost in an instant. This broker does not participate in a compensatory scheme. Other victims and Mandy would have been compensated by now. This is concrete evidence that we are dealing with a rogue broker.
When it comes to depositing with this platform, they have this area well covered. Members can deposit with Comodo, Bitcoin, Visa, MasterCard, Wire Transfer, and AstroPay. Folks, this is not a genuine reason to sign up. These scammers have just covered all areas of depositing so that it becomes easier to deposit. This is another trick that unsuspecting Forex investors fall for without knowing.
Problem with this broker occurs when members want to withdraw. As of now, no member has come forward and claimed to have withdrawn with this broker. This is clear proof that this broker has no intentions of releasing funds client’s funds. What they do is give excuses as to why this is not possible. An excuse they frequently use is that users have not hit the required trading volume to warrant withdrawal.
Without a doubt, this broker is a scam and should be stopped at all costs. Make sure that you never sign up with OmegaFX and ignore all their promotional materials. Omega FX has a vigorous email marketing teal that’s relentless with their emails. Mark all their emails as Spam and never click on any links sent by them.
Only option we are left with is blacklisting this broker in our scam list. It has come to our notice that this broker is in league with hackers. Some of the links they send contain harmful malware meant to steal personal data. Take note not to sign up with Omega FX or be their next victim. Remember to stay safe and warn your friends about signing up with OmegaFX.
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