Omexbanc Review: Unregulated Broker with Favorable Trader Ratings
Regulation is important, however, that doesn’t ensure the broker’s reliability. Sometimes, even regulated brokers can pose a threat, and unregulated brokers can be a great choice. The only difference is when there is an issue, you are more secure with brokers who have a license.
That brings us to our Omexbanc review, where the broker is unregulated but good, according to many traders. Unfortunately, that isn’t enough to recommend them so keep reading to learn more about the company, and don’t forget to check out UBFX.
Omexbanc Broker claims that it has some of the brightest financial experts in the world, providing you with up-to-date and accurate information to empower your trades. However, the truth is far from that.
This website lacks items in the metadata that could improve its internet presence, and it is badly designed. It consequently loses credibility and briefly demonstrates that its quality is in doubt.
We were able to find three domains connected to the same owner, which could indicate the first one was shut down due to malicious practices. Even ScamAdviser confirmed that there are many websites on the same server.
However, when you look at what traders have to say, at first glance, it will seem like they’re a great choice. But brokers who operate without the necessary regulatory oversight can’t be trusted, so keep reading our Omexbanc review to learn more.
|Bahnhofstrasse 100, 8001 Zürich, Switzerland
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|Australia, Netherlands, United Kingdom;
|Variety of assets;
Although the broker claims to be located in Switzerland, according to information from their other domains, they were based in the UK for a while. That does make sense considering some of their traders are indeed UK residents. However, they were not regulated by FCA, or ASIC in Australia, where the majority of their traders come from.
Changing domains could indicate that they’re trying to avoid alerts from financial authorities and after checking their website, we noticed a huge red flag. The well-known scammer software AnyDesk and TeamViewer are available next to the MT4 download button.
Now, don’t get us wrong. Many companies use that software, however, a broker doesn’t need to access your computer for any reason, especially not if you have important data on it. Avoid brokers who are requesting you to download such software at all times!
There are various assets available to trade with, including over 50 forex currency pairs including major, minor, and exotic, cryptocurrencies like Bitcoin and Ethereum, stocks, commodities, and indices.
The Omexbanc trading platform is Meta Trader 4 or something looking like MT4. The maximum leverage is different with each account type and it varies from 1:10, 1:25, and 1:50, which is surprising considering they’re accused of a scam.
Other than providing the bare minimum such as a platform and assets to trade with, the only tool you can benefit from is an Economic Calendar, which can also be found online for free. Unfortunately, the ‘features’ of this brokerage end with the calendar.
The account types don’t have much to offer, as the benefits you get once you move up a tier include personal sessions, meetings, a managed account, and introductory classes. There is nothing you can get from paying for the VIP account besides a huge bonus offering and fake broker ‘insurance’.
Not only that but each account type offers the same things with huge bonuses to mask their true intentions. Getting one trade to deposit $250,000 for the VIP account type is enough to start and stop the scam at the same time.
The features offered are not even worth mentioning, so here is a breakdown of the account types and the minimum deposit each requires:
- Basic $250
- Silver $5,000
- Gold $15,000
- Platinum $100,000
- VIP $250,000
On Sitejabber, there are only 3 comments and all of them are 1-star reviews. However, that wasn’t enough and after thorough research, we were able to find them on Reviews.io, where they have a 4.3 rating based on 29 comments. But let’s focus on the bad reviews, shall we?
One trader was deceived by their promises and decided to invest most of his wealth in the products they offered. Instead of the anticipated profit, he lost practically everything he had.
The final 1-star comment says they take your money and start trading. When you request a withdrawal of the funds, they continue to trade with it and will not pay any money.
Omexbanc Withdrawal and Deposit Options
Once your account is set up, you can deposit your funds using bank transfers, credit/debit cards, and all leading cryptocurrencies. Considering the suspected reliability of this broker, make sure to use a card to deposit so that in case it all falls apart, you can dispute the charge and request a refund.
Withdrawals are processed within 3-5 business days depending on the payment option you choose and there are usually no fees unless your bank charges them. There is no minimum withdrawal amount, however, there are potential issues reported so proceed with caution.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In summary, while some of the reviews for this brokerage are favorable, the reality is much worse. They are operating without a license, changed several domains, and there is nothing secure about them despite how they present themselves.
There are many better alternatives such as IG.com, so make sure to take a look at their services. If you are tired of relying on brokers like Omexbanc, try moving your focus to AI-powered tools that can elevate your skills and boost your profit chances.
One such tool is AI.F, a potent analysis bot with many features that will leave you breathless. AI.F can process billions of data points and make valuable recommendations on whether to buy or sell, and all while you stay the decision-maker. For 14 days for free, you can experience the bot firsthand and enjoy the perks of being a profitable trader. Call us now!
What is Omexbanc?
Omexbanc is an unlicensed brokerage company that provides trading services for a range of assets, including equities, commodities, cryptocurrencies, and FX.
Is Omexbanc Regulated?
No, Omexbanc operates as an unregulated broker, lacking oversight from financial regulatory authorities.
How Can I Withdraw Money From My Omexbanc Account?
There are several ways to withdraw money from Omexbanc, including bank transfers, credit/debit cards, and cryptocurrency. Caution is advised, however, as potential difficulties have been reported.