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Orox Group (Oroxgroup.com) is a brutal CFDs, Crypto Currency and Forex broker scamming investors of their hard earned money. OroxGroup is purporting to be a trusted broker with a committed support team. Complaints have been sent to our help desk by traders who lost their deposits with this platform. This is why we decided to investigate OroxGroup and get the whole truth. Read this detailed and honest OROX GROUP review.
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Beginner friendly and zero commission are some of the selling points this broker is using to entice users. This broker claims to offer focused and personalized services making trading logical. OroxGroup is claiming to cut through financial jargon and provide financial content in a comprehensible language. This broker claims to break down financial and explain it in a way novice traders will understand. Are all these claims true? Read on to find out more.
What about their copy trade tactics, do they work? These are some of the hard questions we used to gather our Intel. And our investigations revealed some major loopholes regarding what this broker was purporting. Stay clear of this broker unless you want to lose your deposit in a matter of minutes. Get to know the real reason why this broker is using fake promises to steal from investors.
Did you know trading with Orox Group is trading with an anonymous platform? Why would anyone in their right mind deposit funds with an unknown third party? Most traders sign up with brokers simply because of the promises being sold. Orox Group is no different as they take advantage of this loophole to steal from investors. These scammers know everyone want to make a quick buck; they take advantage of this need. Scammers will promise to help you make money.
Who is the person behind this trading platform? Why has this platform failed to mention the founders of this brokerage firm? According to the disclaimer at the footer of the homepage, this platform is operated by Astronyx Limited. This company is based in St Vincent and the Grenadines making it offshore based.
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When it comes to licensing of offshore brokers, regulatory bodies are always wary. Offshore brokers never meet the acceptable standards set by the industry. These brokers can close shop without warning causing huge losses. Stay away from any broker based in St. Vincent and the Grenadines; they are most likely, scam artists. This is not the first scam platform to be based there.
Disclaimer at the footer of the homepage fails to offer any valid legal information. Client agreement with the broker is not enough to license a broker. Why have they failed to post copies of any if their registration documents? Whoever signs up with this broker is signing their money away. These scam artists will gladly pocket your money and shut down this platform at will.
Orox Group is using their demo account to entice users into believing their fake results. This platform has rigged their demo account to produce high winning results. Once users start trading with the demo account, win margins are over 95% successful. These scammers know users will want to try out with a real account.
Any user who deposits money with this platform will never get it back. In fact, real account will make users lose over 90% of their trades. Signing up with a demo account and producing great results should not drive anyone to open a real account. Now you know everything!
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Orox Group is offering numerous types of accounts according to level of trading experience. These accounts are Basic, Silver, Gold, Platinum, VIP, and Algo Fund accounts. Problem with these accounts is how high initial deposit is. Initial deposit starts at $2,499 to over $150,000. These accounts come with a commission which starts from 3% to 5%.
All these accounts have the same features and perks. Why would an investor deposit over $150,000 and get the same advantages as one who deposits $10,000? It’s clear this broker did not think it through when suggesting these accounts. Stay away from any broker who offers account types with the same advantages. Reason why this platform has offered different ask price is to target different classes of investors. Make sure to check how accounts work and their advantages.
This broker will never secure funds deposited by investors for one reason, they are a scam. Offshore brokers never fully safeguard funds and don’t even have an insurance policy. This broker does not secure their own website with SSL encryption. How can they possibly secure funds from hackers? Where do they bank money deposited by investors? As it turns out, users are depositing funds straight to owner’s personal bank account.
Is Orox Group segregating accounts? Sadly, this broker does not segregate accounts which mean Orox Group is depositing funds in one account. In case this platform or broker decides to close shop, all investors will lose their funds. Why would anyone want to lose their money trading with an anonymous and unlicensed broker? Make sure to stay away from this platform or else, lose your entire deposits.
This broker has a chat button at the left bottom side of their platform, does it work? This is proof Orox Group does not want to be contacted directly by users. This broker will only respond to emails at their time, they want to remain anonymous. Stay clear from any broker who will only respond to you at their own convenience.
Evidence clearly points out Orox Group is a scam and should be shut down by authorities. In order to stay away from this broker, mark all their emails as Spam and never click on any links. Warn your family and friends from signing up with this broker. Stay away from Orox Group.
This broker is using their homepage to defraud users and stealing their funds. Make sure to stay away from OroxGroup and ignore calls from their agents. These call agents are also harvesting personal data for their own financial use. Stay away from this platform at once. This is a platform which is enriching the pockets of brokers alone.
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Finally, we wish you all the best in your Forex trading experience.
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I have been scammed by Orox. They have my personal information and licence details etc. I’m out for £250 even though they tried to get me to invest a few thousand.. is there any recourse or way to prevent them using my information?
Hi,
First try to get them to close and delete your account with them by contacting their relevant support team.
If that did not work, you should then contact your bank/financial institution about the situation and we are sure they can do several things to help you. Some thing they can do is to help you move your funds to another bank account that is not connected to the fraudulent company or block access to the card/bank account that are connected to the fraudulent company and give you new ones.
I hope this is helpful!
Regards