OmegaPro review (Is OmegaPro legit or scam?)
Whether OmegaPro is a scam or not has been heavily debated online, Omega Pro’s website does seem to show that Omega Pro is legit, but it is hard to know for sure without trading via OmegaPro yourself, so we’ve gone ahead to do the hard work for you, In this post, we will take an in-depth look at OmegaPro and try to shed some light on whether they are trustworthy or not.
OmegaPro has been in the forex trading industry since the year 2018 and they are making some waves. OmegaPro is an online trading broker that offers forex, indices, commodities, ETFs, shares, and options for trading online via the broker’s proprietary trading platform. Omega Pro traders have reported mixed reviews of Omega Pro’s service with many reporting losses.
Let’s dive in!
How to open an OmegaPro account
To open a trading account, you must complete an account opening application form and submit it along with all necessary identity documents. The broker will give you a notice stating whether or not you have been accepted as a customer.
When filling out a broker application, it is critical that you read all of the broker’s terms, conditions, and policies thoroughly. Proceed only if you completely comprehend and accept them.
However, for new clients, OmegaPro charges a one-time administrative fee of $29 USD.
Please note: OmegaPro has placed restrictions on some countries from opening an account on their trading platform, see the list below and check if your country is there:
Afghanistan, Belize, Cuba, Iran, Islamic Republic of Iraq, North Korea, the United States, South Sudan, and Syria are among the nations from which an account cannot be established. If you break this regulation, your account can be permanently closed and you might not be able to get a refund.
How to fund your OmegaPro account
When it comes to funding your account, the Omegapro Forex trading platform provides you with a number of options.
They support MasterCard and VISA debit cards, Cryptocurrencies can also be used to fund your Omegapro trading account.
However, there are certain concerns that need to be mentioned about the platform’s present payment choices, the fact that Omegapro expects you to deposit or add money to your account using cryptocurrencies is self-evident.
Because Cryptocurrencies deposit requires less processing time and fees.
How to withdraw from your OmegaPro account
You can request for withdrawal of your funds from OmegaPro once you meet the minimum withdrawal limit of $50, there is also a 5% withdrawal/transfer fees.
Below are the withdrawal method supported:
- Cryptocurrencies (Bitcoin, Ethereum and E.T.C)
- Bank transfers
- Online payment processor such as Unionpay and others
- Expert Advisors are available through the brokerage (EAs)
- It comes with a charting program that is quite complex.
- Omegapro provides a robust environment for back-testing.
- Omegapro offers more advanced and technical indicators
- Omegapro is an unregulated offshore broker, this makes them look scammy and not legit, also, your investments is not safe with them cause they can scam you since they are unregulated
The Financial Conduct Authority (FCA) is the financial regulator in the United Kingdom. If they (Omegapro) want to offer financial services in the UK, all Forex and CFD brokers must register with this body.
The fact that this broker was not listed on the FCA’s registry, which means it is fully unregulated, came as no surprise. This also means that if you choose to invest with this so-called broker, you run the risk of losing your entire investment.
- On its website, OmegaPro does not provide any corporate information. Information about the firm that owns or operates this broker has not been disclosed, where it is located, or whether it is regulated.
There is a belief that they are using a virtual address and that OmegaPro does not have a physical location.
- The Spanish financial authority, the CNMV, has banned OmegaPro as a possible fraudster. This is another significant red flag about this shady broker.
Most of the time, government organizations such as the CNMV issue warnings against unregulated businesses after receiving complaints from local investors who have been duped.
- Everything about this broker, including the terminology on its website, suggests that it is a multi-level marketing company. The broker claims that there are several investment packages available for merchants and members (no mention of the word trader).
In addition, the broker discusses how you can bring in other members once you join, and how you will be compensated for doing so.
To make matters worse, there is no sign of trading on the broker’s website. There is also no evidence that income are made through trading. So, how are the affiliates of the broker compensated?
All of these factors point to OmegaPro not being a forex broker. Rather, it’s a con artist who employs an MLM plan in which previous members are compensated for deposits made by new members.
- OmegaPro specifically claims that it does not allow for any refunds, which is yet another red flag that this broker is a scammer. This means that after you’ve given your money to this broker, you’ll never be able to get it back. It’s something you can write off as a terrible investment.
- Another odd offer from the broker is that it claims to charge free trading fees for the first 16 months of a member’s participation in the program. This is unheard of; no broker has ever done something like this — it makes no financial sense.
Omegapro is neither a real broker nor an investing firm. Omegapro is a scam that has been warned about by at least one financial regulator. Keep a safe distance from it!
Investing and trading should only be done with organizations that are regulated. You can start studying with a free demo from a regulated broker. You’ll be able to tell if you’ve been successful in developing a profitable plan.
Nobody will generate you large income for free, especially anonymous and dubious programs like Omegapro.
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