Onbuy Global is a forex and CFD broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that Onbuy Global is a scam broker.
Company Overview
Onbuy Global is a company registered in Seychelles. However, it does not have any licenses from any reputable financial regulatory authorities. This means that Onbuy Global is not subject to any oversight or regulation, which makes it a very risky broker to trade with.
Does Onbuy Global Have Any Licenses?
No, Onbuy Global does not have any licenses from any reputable financial regulatory authorities. This is a major red flag, as it means that the broker is not subject to any oversight or regulation.
Is Onbuy Global Regulated By Any Authority?
No, Onbuy Global is not regulated by any authority. This is another major red flag, as it means that the broker is not subject to any oversight or regulation.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is user-friendly.
- There are a variety of trading products and services offered.
Cons:
- The broker is not regulated by any authority.
- There have been complaints about the broker’s customer service.
- There have been reports of the broker being involved in scams.
How Does Onbuy Global Reach To Their Prey?
Onbuy Global targets unsuspecting investors through a variety of methods, including:
- Online advertisements
- Social media
- Cold calls
- Emails
The broker often makes false or misleading claims about its trading products and services in order to lure investors in.
Technical Details
Minimum Deposit:
The minimum deposit to open an account with Onbuy Global is $250.
Trading Platform:
Onbuy Global uses the MetaTrader 4 trading platform. This is a popular and well-respected platform that is used by many other forex brokers.
Spread:
The spreads offered by Onbuy Global are not competitive. The average spread for EUR/USD is 1.5 pips.
Leverages:
Onbuy Global offers leverages of up to 1:100. This means that you can control a position worth $100,000 with a deposit of just $1,000. However, high leverage can magnify your losses as well as your profits.
Packages and Products They Offer
Onbuy Global offers a variety of trading products and services, including:
- Forex trading
- CFD trading
- Cryptocurrencies
- Stocks
- Options
The broker also offers a variety of educational resources and trading tools.
Withdrawal and Deposit Method
Onbuy Global offers a variety of withdrawal and deposit methods, including:
- Credit cards
- Debit cards
- Bank transfers
- E-wallets
The withdrawal and deposit fees are not clearly disclosed on the broker’s website.
What Do Their Previous Traders Say?
There are a number of complaints about Onbuy Global on online forums and review websites. These complaints include:
- Problems with withdrawals
- Slow customer service
- Scamming tactics
Summing Up- Why Should Not You Trust Onbuy Global
The red flags discussed above suggest that Onbuy Global is a scam broker. The broker is not regulated by any authority, and there have been complaints about its customer service and trading practices. Therefore, it is best to avoid Onbuy Global and trade with a more reputable broker.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Onbuy Global, you can try to get your money back through the Financial Ombudsman Service (FOS). The FOS is an independent organization that can help you resolve disputes with financial institutions.
Also, you should get our free consultation by providing your incident information through our website form. Our free consultation will include guidance and service recommendations to help you in recovering the lost fund.
File A Complaint Against Scam Broker's
Final Thoughts
Onbuy Global is a scam broker that should be avoided. If you are looking to trade forex or CFDs, it is important to choose a reputable broker that is regulated by a reputable financial authority. We hope this article was helpful. If you have any questions, please feel free to ask.
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