It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:
BlocEdu Ltd is the parent company that owns OrientalFX. For those who have signed up with Oriental FX, we can only feel sorry for them. The platform has been a total buzzkill after blocking withdrawals from clients. You won’t get to enjoy the fruits of your trading with orientalfx.com. To protect our ardent readers, we have to expose the red flags found. Here’s more in our detailed ORIENTALFX REVIEW.
OrientalFX claims to provide the most transparent trading environment. Unfortunately, that’s far from the truth, and openness is out of the question. The platform does its best to hide its actual background and history.
No one knows even the parent company’s existence. These are random business names meant to entice investors to sign up. Instead, we see a platform trying to sell itself as committed to excellence on the about us page.
When investing, experts recommend using the right channels. These include Coin Staking, DeFi, and Masternoding. With any of these proven investments, you get a guarantee of safety and transparency.
Oriental FX only wants to take advantage of investors. There’s no proof from members that withdrawal is possible. In fact, it’s been over six weeks since anyone got the chance to withdraw funds.
Those who claim to have won with the platform are part of the scam. The platform is using them to lure other investors into depositing funds. If this were true, there would be proof of their withdrawal from surfing the web.
The platform only wants to take investors for a ride. There’s no actual trading taking place on the platform. Once you deposit funds, that’s the last you will see of it. After that, the platform will keep quiet and block your access.
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Before you invest in such platforms, experts recommend doing due diligence. Try and find out which platform works best for you. Get to know the experiences of other users before committing funds.
There are three available accounts on OrientalFX. These include Standard, STP, and Pro accounts. Each of these accounts comes with a different set of features. We will be looking at each account;
Standard
You have to make a minimum initial deposit of $200 to get started. It’s the account best suited for newbies, and this is according to orientafx.com. The account comes with leverage up to 1:200 and spreads from 1.0 pips.
STP
There’s a minimum deposit of $2,000 set for investors for the STP account holder. The account has the same leverage as the standard account. Spreads start from 0.8 pips, with members enjoying floating spreads.
Pro
It’s the most exclusive account, with the platform also targeting institutional investors. The maximum leverage is 1:100 with spreads starting from 0.4 pips. You have to make an initial deposit of $3,000 to get started.
We have to raise the red flag regarding the maximum leverage set for the first two accounts. Regulators have clearly stipulated the maximum leverage allowed on forex assets. In most jurisdictions, the maximum leverage is 1:100.
It’s only in the United States that retail traders get maximum leverage of 1:50. Any platform exceeding the maximum leverage puts your trading position at risk. And that’s why we have to be extra careful with leverage above 1:100.
The platform will be the greatest benefactor once you lose your trade. High leverage is best suited for expert traders. We see that the high leverage, in this case, is set for newbies and standard traders.
There’s also no demo account for testing these accounts. You would expect a professional trading platform to offer demo accounts. With a demo account, members familiarize themselves with the conditions set.
The platform is looking to take advantage of your connections to widen their trap. There’s no professional affiliate that wants to partner with the platform. Word has already gone around regarding the platform’s missteps.
Once you refer a close family and friend, you risk losing more than your friendship. As an affiliate, the platform rarely releases commissions. Therefore, the person you direct to the platform will also lose their investment.
You end up facing the blame for directing loved ones to orientalfx.com. The platform intends to take advantage of your connections at the end of the day. By doing so, you help them defraud more unsuspecting investors.
If these investors happen to take legal action, you will be seen as an accessory to online fraud. The law won’t spare you as your actions directed users to invest in a scam. It’s best to confirm that a platform offers legit services before partnering with them.
BlocEdu Ltd claims to own the platform. However, the disclaimer at the footer of the homepage indicates St. Vincent and the Grenadines as their home. And this clearly shows that we are dealing with an offshore platform.
Despite claiming to have a valid trading license, none of it is true. Instead, the platform uses random numbers to act as their registration number. As a result, you won’t get to see any matching documents under the business register.
The platform is an offshore platform, and it’s also an anonymous investment platform. There’s no information on who owns or runs Oriental FX. You don’t get to read about the CEO or founding members of the platform.
The platform claims to offer direct means of communication. Instead of having a live chat, the platform gives investors a message board. There are no phone numbers members can use to contact staff members directly.
We see a platform that wants to take complete advantage of investors. Unfortunately, the platform fails in its duty to offer a clear support structure. You have to beware of platforms that limit communication to written form only.
There are several depository options listed at the footer of their homepage. These include bank and wire transfers. The platform also accepts Bitcoin as part of its crypto payment plan. Don’t deposit funds with orientalfx.com.
After depositing funds, the platform will ensure the balance reflects within 24 hours. You can then start trading and watch as the account balance grows. When the time comes to withdraw funds, all hell breaks loose.
The platform fails to allow anyone to withdraw funds. Unfortunately, you won’t get far as the platform finally deletes your account credentials. Hiring recovery agents won’t help matters as these agents are part of the scam.
Recovery agents get your information from the platform and make first contact. Then, you get an email claiming the agents have won a lawsuit against the platform. All you have to do to get part of the settlement is cover the legal fees.
Please don’t do it, as these agents don’t have the mandate to freeze bank accounts. These agents are the last nail on the coffin. You will likely fail in your attempt to recover funds and, in the end, lose more.
Your funds are far from safe with a platform that fails to offer insurance cover. In addition, the platform doesn’t segregate accounts as dictated by trading regulations. That’s why we have to expose the platform’s risky aspects.
The platform doesn’t comply with set industry rules and regulations.
Orientalfx.com is a scam, and please stay away from it.
The best investment is when you use proven entities that protect your interest. So go for coin staking or DeFi and stand a chance of creating a decent ROI.
Do you have anything to add? Please drop a comment or email us with any queries.
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