Today I am doing a review of the broker OpoForex.
In choosing a partner with trade in the Forex markets, you need to be as careful as possible.
And I’m going to show you what you need to check, before you start trading with a broker.
I’m doing this OpoForex broker review to show you step by step how to check out a broker before you start trading with it.
These simple steps will help you not to fall into the hands of scammers.
1.First Step – Research the Opoforex forex broker website
The first step is very simple, we need to explore the broker’s website – Here it is:
We can check such information on the broker’s website:
|Broker status:||Offshore Broker|
|Regulated by:||Saint Vincent and Grenadines|
|Owned by:||Opo Group LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, shares, commodities|
|Free Demo Account:||No|
|Accepts US clients:||No|
As we can see, the broker writes:
Opo Group LLC is an approved member of The Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market located in Hong Kong and London.
And we see that the broker is regulated in the Saint Vincent and Grenadines offshore zone.
We can check that at the official website of Saint Vincent or at https://www.wikifx.com/
I recommend always checking in both places.
OpoForex is nowhere to be found in the FSA register as well as Tier1 registers such as the FCA, ASIC, or BaFin.
2.Check the Traders Opinion
The next step is to check the feedback of traders who have already traded with OpaForex broker.
You can look at https://www.trustpilot.com/review/opoforex.com as well as social networks – facebook, instagram
I recommend always checking in both places
We looked at OpaForex profiles and see that the company has been operating for about a year.
The first social media post was 36 weeks ago in February 26.
This is a young broker and there can be problems with young companies. Be careful.
3.Check financial regulation of OpoForex broker
So the main question: is OpoForex a scammer or legitimate?
As mentioned, Saint Vincent don’t have a financial regulator. That’s why a lot of newly established brokers are choosing this particular offshore country.
After a thorough check of the FSA register, we haven’t find OpoForex broker or OPOFOREX LLC anywhere.
Of course, other financial registers have the same result – OpoForex doesn’t exist.
Beware of offshore scams and do not invest your money with such.
Have you been scammed by OpoForex?
There is a chance that you have been a victim of fraud by OpoForex or any other illegal broker. Yes, it happens and it’s not the end. There is always a solution! You need to file a dispute and request a refund.
A chargeback is a way for your bank to reverse the transaction if you can prove that you were a victim of online fraud. Since OpoForex is offshore, this process requires knowledge of international processors and international banks. To get help in this matter, contact the professionals – here is the link.