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This particular broker is a scam. Apart from that, the broker’s website is a complete clone of Vantage FX a legit and regulated broker that offers forex trading. OurTimeMarket.com went ahead and cloned every aspect of the website including Vantage FX’s Logo.
The firm uses a binary-option a business model said and has been proven to be vulnerable to scams. A binary-option business model is a form of fixed-odds, the trader is involved in the prediction of the likeliness of an event to occur for instance the trader/investor is required to predict if the price of a certain share will either go up or down.
If your prediction is correct then you get to win whereas if the outcome is not what you had predicted then you lose your funds, in other words, you will be basically betting against the company that has the ability to manipulate the outcome in their favor.
In fewer words, Ourtimemarket is not a legit business they claim to regulated by the Cayman Islands Monetary Authority. However, they are not. The entity does not hold a license from any regulator.
Secondly Vantage International Group Limited, the company that owns Vantage FX the company whose website was cloned by OurTimeMarket.com does not mention this broker as being its subsidiary or being affiliated to it in any way, yet the company in review claims to be a trading name of Vantage FX.
You all should know that OurTimesMarket does not have terms and conditions on its website. This is a really huge concern because you as the client can not really tell if there are hidden fees while you are using the platform or worst you wouldn’t know if there might be complications while you are trying to withdraw your funds.
The company advertises leverage of 1:500 on their website. However, this contradicts with its core business model as the binary-option business model does not offer leverage. In that case, the leverage they have advertised makes no sense and is simply meaningless their case.
Lastly, we would like our readers to be aware of this broker in particular. Although the broker uses a binary-option business model the payout they claim to offer is still less than what other companies using the same business model offers.
The broker has an Australian address, the broker goes on and claims to have a license from a regulator known as Cayman Islands Monetary Authority. The broker claims to be a subsidiary of Vantage FX as mentioned earlier, in this way the broker tarnishes the name of Vantage FX they are in no way related to each other.
This broker is unregulated and not a licensed broker, they are just a bunch of scammers who have cloned and claiming to be working as a subsidiary of a reputable company in order to target unsuspecting clients and make a run for their money.
To our readers, you will not make any profit from this particular platform and therefore instead of wasting money with these clowns try investing with legit forex trading brokers who have been in the game for so long and are regulated and within areas with strict policies governing the forex brokers.
Something worth noting is OurTimeMarket is a binary options broker, binary option was scrapped off from forex and is no longer an instrument of trade in the forex market.
Instead, they are now casino games, since this is usually a bet on the potential outcome of an event where the trader stakes their stake on whether the stock will either go up or down within a specific time and if your prediction is correct you get to win but if your prediction is wrong then you lose your stake. This is actually you as the trader betting against your broker it is not actual trading.
A user trading with this broker will be required to create an account just like in all the other brokers both the legit and the scammers. From there you can log in to the account where you could begin your trading.
The initial minimum amount that a client is required to deposit by this broker is 200 USD. And like we have seen before brokers who tend to ask for an initial amount that is higher than 100 USD which is the regulated amount that a broker is supposed to ask for while creating an account for a client the broker is most likely ending up as a scammer and ourtimemarket is no exception.
This broker does not talk about the collection of personal information that would prove ownership such as Identity cards or licenses.
The broker does not talk about what happens to a dormant account or an account that has not shown any sign of activity for a specific period of time it does not say if the client will be subjected to a fee or if the account will be deactivated.
Let us now talk some more about deposits being made by a client who would happen to be trading with this broker. As seen in the previous section that is Trading Conditions of OurTimesMarket the platform requires a trader to deposit an initial sum of 200 USD and as seen this particular amount is actually two times higher than the recommended amount in the forex market space.
However, the platform offers Wire Transfers and Bitcoin as the only methods of funding. For those who have read most of our reviews, by just seeing the methods of funding that this broker offers you can already start suspecting the legitimacy of this broker. This is because the methods of trading chosen by the brokers are methods that once a payment transaction has been executed there is no possibility of a refund as the transactions are final.
You should note this broker does not have Terms and Conditions anywhere on their website as a result the broker does not have any information about how a client can withdraw his or her funds from their platform, again the client does not give information about withdrawal fees As ma matter of fact you can be subjected to alot of undocumented fees since we the broker does not have a terms and condition section.
Something else thst is worth noting, OurTimeMarket had a trading chat on their dashboard so that they can convince their victimas that they are an authentic trading platform. Levarange and spreads are important in every stock trade the two can actually help you determine is a broker is authenic or not. But as mentioned earlier OurTimeMarket mention a leverage of 1:500 but actually that is not something they offer because they are a binary-option broker and not a forex trade broker.
The company claims to have their offices physical address to be in australia, However, the phone number they have provided in their website is a number that is registered in the United States and therefore we happen to believe the physical address that they have provided does not point to the actual location where they reside and that company has nothing to do with Australia.
OurTimeMarket is not a legit forex trade broker this is just another one of those scamming brokers who pose as legit brokers to steal from unsuspecting traders, like we said before we would advice all sour readers to be careful while dealing with this brokers and avoid trading with brokers who are not examples of reputable forex brokers are regulated and are issued with a legit license from known authorities
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