Company OverviewOMC Markets was founded in 2018 and is headquartered in Bulgaria. Bulgaria-based Personal Found LTD is the owner and operator of OMC Markets. Regretfully, the broker lacks a license to offer financial services in important areas such as the USA, Australia, Japan, the EU, and Australia.
Does OMC Markets Have Any License?No, OMC Markets does not have any license. It is an unregulated forex and CFD broker.
Are OMC Markets Regulated By Any Authority?No, OMC Markets is not regulated by any authority. It is a blacklisted forex and CFD broker. Numerous regulatory bodies voiced their concerns about the brokerage because broker regulation is so dubious. Among them are the UK’s FCA and Belgium’s FSMA, which declare OCM Markets trading brokerage to be an uncontrolled fraud that cannot be relied upon.
Pros and Cons
Blacklisted by the FCA and FSMA
Aggressive sales tactics
Refusal to allow clients to withdraw their funds
How Does OMC Markets Reach To Their Prey?
OMC Markets reaches its prey through a variety of channels, including online advertising, social media marketing, and cold calling. The company’s sales representatives are known for being very aggressive and for using high-pressure tactics to convince clients to open accounts.
The minimum deposit at OMC Markets is $250. This is a relatively high minimum deposit, especially considering that the company is unregulated and has a reputation for scamming clients. (Source: OMC Markets review – Is omcmarkets.com scam or good forex broker? (forexbrokerz.com))
OMC Markets uses a proprietary web trading platform that is not available for download. The platform is basic and does not offer any advanced features. It is also not very user-friendly.
The benchmark EURUSD spread fluctuated roughly 3,5 pips when tested with a trial account, which is well over the threshold traders deem acceptable. Remember that initial spreads are only allowed to be less than 1.5 pip.
The maximum leverage offered by OMC Markets is 1:500. This is a high leverage ratio, and it is not suitable for most traders.
Packages and Products They Offer
OMC Markets offers a variety of trading products, including forex, stocks, commodities, and indices. However, the company’s product offerings are limited compared to other forex brokers.
They offer the following account types:
3,5 pips, floating
Withdrawal and Deposit Method
OMC Markets offers a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and e-wallets. However, clients have reported having difficulty withdrawing their funds from OMC Markets.
What Do Their Previous Traders Say?
Previous traders at OMC Markets have reported having a number of problems with the company, including:
- Aggressive sales tactics
- Refusal to allow clients to withdraw their funds
- High spreads
- Limited product offerings
- Poor customer service
Summing Up- Why Should Not You Trust OMC Markets
There are many reasons why you should not trust OMC Markets. The company is unregulated, blacklisted by the FCA, and has a reputation for scamming clients. OMC Markets also offers high spreads, limited product offerings, and poor customer service.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by OMC Markets, you may be able to recover your lost funds. However, it is important to act quickly, as the company may try to make it difficult or impossible for you to withdraw your money.
We offer a free consultation call to help you understand your options and get started on the recovery process. We also have a network of trusted recovery service providers who can help you get your money back.
File A Complaint Against Scam Broker's
OMC Markets is an unregulated and blacklisted forex and CFD broker. The company is known for its aggressive sales tactics and its refusal to allow clients to withdraw their funds. We strongly recommend that you avoid trading with OMC Markets.
If you have been scammed by OMC Markets, please contact us for a free consultation call. We can help you understand your options and get started on the recovery process.
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