OpoFinance Review: Stay Away from OpoFinance.Com
Are we dealing with another broker deception? Opofinance seemingly supports the best trading platforms and offers fairly decent trading conditions.
Nevertheless, this is an offshore FX broker who swears to be regulated by various financial administrations. However, they lack many things. This Opofinance review will show you the reason why you should avoid this broker! Stay tuned!
What is more, we strongly advise you not to invest in Royal Oak Investment, Ranytrade, and Nerostrade fraudulent brokers.
|Leverage||up to 1:500|
|Regulation||FSA of Seychelles|
|Headquarters||Office 9D, Providence, Mahe Seychelles|
|Platforms||MT4 & MT5|
License and Regulations of OpoFinance
This broker is, by all means, risky and questionable. OpoFinance does not disclose its identity to the fullest, but unlike other fake brokers, this one has carefully created a legit-looking essence expressed via a modern and organized web page. The website is there to trick people. However, after you fall for their trap, it may be challenging to break free.
They will let you register easily. Yet, a problem will arise in the verification process. Your account will never get approved, as this is the goal of the broker. Some may see this as a warning of exercised safety measures.
However, this only shows a lack of interest in a client that will not bring the company any profit. Moreover, it’s odd that you will get full access to its user area.
Opofinance broker claims it has offices in Mahe Seychelles and SVG. In addition, it is odd that they have a license from the FSA of Seychelles.
On the flip side, the regulatory body of St. Vincent and the Grenadines, SVGFSA, does not control forex brokers and does not set any laws concerning FX trading. So, the conclusion is that no broker could be regulated in this country. Keep this in mind.
Trading Platform Available at OpoFinance
Opofinance offers FX trading through the avant-garde MT4 and MT5. These are some of the most popular and cherished venues in the enterprise. The software is absolutely amazing. It is UI-friendly and loaded with practical trading tools.
However, you shouldn’t trade with a broker that has not proven to be reliable just because they offer a superb platform. Today, many fake brokers tend to get their hands on MT4 and MT5 and try to persuade people that they are worth it just because they offer them.
|Broker||OpoFinance||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
Many licensed top-rated brokers offer one or both of these venues – trading with them is certainly a better option.
Note: Many fake brokers may state that your funds may be at risk. Still, this shouldn’t be the reason to forget other crucial aspects. They are trying to impersonate legitimate websites. Make sure to do your research and trade with the leading regulated brokers.
Deposit and Withdrawal Methods
OpoFinance has a withdrawal policy that is a standard example of empty promises. The company hasn’t identified any terms or policies. All we know is that the payout needs to be performed using the same options you utilized for the deposit.
They allegedly support crypto assets, UnionPay, Advcash, bank cards, Perfect Money, TopChange, and wire transfer.
Fees and other expenses are not specified. Ultimately, there is no indication of how long you should wait to receive your funds. Allegedly, the Basic trading account comes with a minimum deposit amount of $100.
Offshore Brokers Fraudulent Tactics
Fake financial companies operate in many ways. First of all, there are so many withdrawal issues to be seen. Then there are abnormal fees. Beware that there are crazy fees, usually more than 20%. Those fees will be called withdrawal processing and handling fees.
Let’s not ignore the so-called profit fee. Scammy websites want you to pay them before submitting a withdrawal request.
Furthermore, they promise odd guaranteed returns. This one is another favorite technique. Scammers will always promise you guaranteed profits. Always beware that trading highly leveraged instruments carries significant risk. Any fake broker will try to convince you that your returns are guaranteed. Let’s focus on brokers regulated across the EU, the US, the UK, and Australia. These firms need to post a warning about the percentage of traders who lose money on their platforms.
Note: Simply because a broker has a license does not imply that you should trust them with your money. Keep this in mind.
The Best Brokers for Forex
Here’s a list of the best brokers you can check out. They are safe, trustworthy, and quite popular.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
What is there to learn from this OpoFinance review? Signing up with this broker will be reasonably straightforward, by all means. However, this is a questionable FX broker!
OpoFinance has a questionable trading policy, and there are many withdrawal issues present. Trade with the leading brokers only.
FAQs About OpoFinance Broker
Is OpoFinance Regulated?
OpoFinance regulation comes from the FSA of Seychelles and an autonomous regulatory body established in Hong Kong called FINACOM.
What is The Minimum Deposit for OpoFinance?
In regard to this information, OpoFinance offers a minimum deposit amount of $100 for a Basic account.
Is OpoFinance a Trustworthy Broker?
This broker has a license. However, you should not trade with them due to many withdrawal issues.