Ortega Capital Review: Is Ortegacapital.com a Trustworthy Business?
Everyone seems to forget crucial factors to consider when choosing a broker. Because of that, many people fall prey to scams and fraudulent companies. You would think there’s no chance you could be manipulated into investing but remember that these are experienced scammers and they can make everything sound too good to be true.
That brings us to this Ortega Capital review and an unregulated and non-operational broker you should avoid at all costs. Unfortunately, this firm is not the first nor the last, so make sure to check our VoloFinance review as well.
St. Vincent and the Grenadines are the headquarters of scammers because it’s easy to obtain registration. Companies can work from the comfort of their own homes and scam you from a distance, and you won’t even notice it. That is where our helpful reviews come in, so make sure to read everything.
About Ortega Capital
Even though the broker claims it has a license from the Labuan Financial Services Authority (Labuan FSA), there appear to be differences in the addresses and domain names, according to Labuan FSA documents.
Ortega Capital Limited is not under supervision even though it is registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). The offshore financial watchdog has made it clear that it does neither regulate nor grant licenses for the activities of FX trading and brokerage.
According to the information we found so far, this brokerage is not even in the top 100 brokers you want to trade with. Keep reading our Ortega Capital review for even more information about this firm and its operations.
|Ortega Capital Limited
|Suite 305 Griffith Corporate Centre Beachmont P.O. Box 1510 Kingstown, St Vincent and the Grenadines
|Financial Authorities Warnings
|If Active on Social Media:
|Singapore, United States, Australia, Malaysia, United Kingdom
|Not operable; Unregulated;
Ortega Capital Regulation
In essence, there is no regulatory authority that oversees Ortega Capital Limited. It is extremely dangerous to entrust your money to this broker because there are no legal safeguards in place to protect the money. Without a doubt, Ortega Capital Limited is a fraud.
There are two investor alerts regarding this company, one from the Monetary Authority of Singapore:
And one from the Labuan Financial Services Authority:
We could never recommend a broker who has been red-flagged by financial authorities due to safety reasons but luckily for traders, the broker is no longer operational.
How Does It Work?
The losses of its clients do not benefit Ortega Capital. In this context, STP, ECN, and NDD are largely synonymous. Since this broker’s earnings come from both the spread and a commission for trading lots, it should legally be considered an ECN. In contrast, Ortega Capital and other STP runners just include their rate in the margin.
However, considering the broker ceased operations, lied about being regulated, and provided false license information, we can’t say anything about them is legal. Avoiding brokers like this or MyProfitLive is your best shot at becoming a successful trader.
Ortega Capital Plans
It doesn’t seem like the broker offers a variety of account types. Consider their accounts to be typical account types with a $500 minimum deposit. The accounts have a 1:100 leverage. The spreads are explained in the section that corresponds to them; nevertheless, a commission of 8 USD must be applied for each lot traded. The spreads begin at 0.2 pips.
The conditions don’t seem terrible but considering the broker is not legit and operates without a license, who knows if these things are true. Our Ortega Capital review brings out fact-checked details but even that isn’t enough to make a decision.
Traders Share Their Experiences
There are no reviews about this company on any platforms, unfortunately. Since they are no longer operational, it could mean that the company’s profile got deleted, or that they were very successful in hiding their true intentions.
While relying solely on reviews isn’t good, reviews are a great addition to your decision-making process. If the majority of comments provide positive feedback, you can learn more about the company and its features. If there are unfavorable comments, you will know what to expect.
Deposits and Withdrawal Methods
The minimum deposit required to start trading is $500, and considering some brokers let you trade for as low as $1, this seems rather excessive. The available methods included credit/debit cards, Neteller, Skrill, UnionPay, Bank Transfer, and other popular e-payments.
In case you pay with a Bank Transfer, you can expect a delay of 2-5 business days, while with other methods, the payment is instant. There is no minimum that you need to withdraw, meaning you could even request a $1 payout.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
To make money while trading, you need to educate yourself, prepare a strategy, be aware of potential risks, and get ready to dedicate yourself to becoming successful. The markets constantly shift and you always need to be up-to-date. Imagine that you have to forecast future price movements and make a decision without any prior knowledge.
If you do have the knowledge and want to take it to the next level, try AI.F. Our analysis bot can process billions of data points to forecast future price movements and provide insightful recommendations on whether to buy or sell.
It is the ultimate game-changer in the trading world and with the 14-day trial we offer, we promise you won’t be able to get enough of it. We suggest giving us a call immediately to start your profitable trading journey. Reach out with no commitment!
What is Ortega Capital?
Ortega Capital was a brokerage company located in St. Vincent and the Grenadines that ceased operations for an unknown reason.
Is Ortega Capital Legit?
No, this company is anything but legit. Even while operational, they claimed to be regulated by the Labuan FSA, which is incorrect. The Labuan FSA issued an investor alert, warning traders about this broker.
How Can I Withdraw Money From Ortega Capital Broker?
That can be a bit difficult now when they are no longer in business. However, we suggest reaching out to financial authorities and local police to report them. Without the help of reputable authorities, withdrawing your money will be almost impossible.