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Oliver

United Kingdom|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://www.oliverfx.com/

Website

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Contact

service@oliverfx.com
https://www.oliverfx.com/

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No restriction on the broker account. Support service provided by WikiFX

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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0556730) claimed by this broker is suspected to be clone. Please be aware of the risk!

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Oliver · Company Summary

Aspect Information
Registered Country/Area United Kingdom
Founded Year Within 1 year
Company Name Oliver FX Limited
Regulation Currently unauthorized and not regulated
Minimum Deposit Not specified
Maximum Leverage Up to 1:500 (based on equity of trader's account)
Spreads Vary depending on the account type and currency pair
Trading Platforms HT5 for iOS, HT5 for Android, HT5 PC
Tradable Assets Cryptocurrency, Forex, Oil, Metal, Index
Account Types Original Spread Account, Commission-free Standard Account
Demo Account Not specified
Islamic Account Not specified
Customer Support Email: service@oliverfx.com
Payment Methods Not specified

Overview of Oliver

Oliver FX Limited is an unauthorized and unregulated broker based in the United Kingdom. They lack a valid regulation from the United States National Futures Association (NFA), and their license status is abnormal. It is important to exercise caution when dealing with such a broker.

Oliver offers various market instruments for trading, including cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash), forex currency pairs (EUR/USD, AUD/USD, EUR/GBP, USD/CHF, and GBP/USD), oil-related products (USO/USD and UKO/USD), precious metals (XAU/USD and XAG/USD), and index products (AUS200, UK100, GER30, JPN225, and SPX500). Each instrument has different trading costs.

They provide two account types: the original spread account and the commission-free standard account. However, specific details about these account types are not provided. To open an account, visit their website, complete the required information, verify the email, set a password, review the details, and register.

Oliver FX Limited offers leverage options based on account equity, ranging from 1:500 to 1:20, with corresponding margin requirements between 0.2% and 5%. They offer varied spreads on various currency pairs, with the standard commission-free account providing spreads as low as 0.9 points for common pairs like EUR/USD. Trading platforms available include HT5 for iOS, HT5 for Android, and HT5 PC, offering features like real-time quotes, order placement, charting tools, and account monitoring. Customer support can be contacted via email.

basic-info

Pros and Cons

Oliver FX Limited offers a range of pros and cons for traders to consider. On the positive side, they provide a wide range of market instruments to trade, including cryptocurrencies, forex, oil, metals, and indices. Traders also have the choice of two different account types and can benefit from leverage options based on their equity, with leverage ratios of up to 1:500. The broker offers low spreads on currency pairs and provides access to multiple trading platforms, including a mobile app for trading on the go. Traders can access real-time quotes and charts, as well as utilize technical analysis tools. However, there are some drawbacks to consider, such as the fact that Oliver FX Limited is an unauthorized and unregulated broker. There is a lack of specific details about account types and limited transparency. Additionally, there is no information provided about deposit and withdrawal procedures, and customer support options are limited. It is also worth noting the absence of educational resources and specific information about payment methods and minimum deposit requirements. Traders should carefully evaluate these pros and cons before making a decision.

Pros Cons
Wide range of market instruments available Unauthorized and unregulated broker
Choice of two different account types Lack of specific details about account types
Leverage options based on equity, up to 1:500 No information about deposit and withdrawal
Low spreads on currency pairs Limited customer support options
Multiple trading platforms available Lack of educational resources
Mobile trading app Lack of information about payment methods
Access to real-time quotes and charts No information about minimum deposit
Technical analysis tools available Limited transparency

Is Oliver Legit?

Based on the information provided, Oliver FX Ltd is currently unauthorized and not regulated by any regulatory agency. The broker's license status is abnormal and it does not hold a valid regulation from the United States National Futures Association (NFA). The broker exceeds the business scope regulated by the NFA. Additionally, the information suggests that the broker does not have a trading software. It is important to be cautious and aware of the associated risks when dealing with an unauthorized and unregulated broker.

regulation

Market Instruments

Oliver offers a range of market instruments for trading, including Cryptocurrency, Forex, Oil, Metal, and Index. Let's briefly summarize each type:

Cryptocurrency:

Oliver provides the opportunity to trade various cryptocurrencies. Examples of cryptocurrencies available for trading include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).

Forex:

Oliver offers a selection of currency pairs for forex trading. Examples of forex pairs include EUR/USD, AUD/USD, EUR/GBP, USD/CHF, and GBP/USD. The trading costs vary depending on the type of account, with standard commission-free accounts having spreads between 0.8 to 1.8 points, and original spread accounts with spreads ranging from 0.0 to 0.8 points.

Oil:

The platform provides access to oil trading with various oil-related products. Examples include USO/USD and UKO/USD. The differences in trading costs for these oil products range from 0.04 to 0.59 points.

Metal:

Oliver offers trading opportunities for precious metals. Examples of metal trading products include XAU/USD (Gold) and XAG/USD (Silver). The differences in trading costs for these metals are around 15 to 40 cents for silver (XAG/USD) and 20 to 30 cents for gold (XAU/USD).

Index:

Oliver also allows trading in index forex products. Examples include AUS200, UK100, GER30, JPN225, and SPX500. The differences in trading costs for these index products range from 0.3 to 5.0 points.

market-instruments

Pros and Cons

Pros Cons
Diverse range of market instruments available Limited transparency regarding trading conditions
Opportunity to trade various cryptocurrencies
Selection of currency pairs for forex trading

Account Types

Oliver FX Limited offers customers two different types of accounts: the original spread account and the commission-free standard account. However, no specific details regarding the features or benefits of these account types are provided. Customers can choose the account type that aligns with their trading experience and individual needs.

How to Open an Account?

To open an account with Oliver FX Ltd, follow these steps:

  1. Visit the official website and locate the “Open a real account” option.

  2. Click on the “Open a real account” button.

    open-account
  3. Fill in the required information, including your name, email address, and mobile phone number.

  4. Verify your email address by entering the mailbox verification code sent to your registered email.

  5. Set a password for your account and confirm it.

  6. Review the provided information for accuracy.

  7. Click on the “Register now” button to complete the account registration process.

open-account

Leverage & Margin

Oliver FX Ltd provides leverage options based on the equity of the trader's account. The leverage levels offered are 1:500 for equity up to USD 5,000, 1:200 for equity between USD 5,001 and USD 10,000, 1:100 for equity between USD 10,001 and USD 20,000, 1:50 for equity between USD 20,001 and USD 50,000, and 1:20 for equity above USD 50,000. The corresponding margin requirements range from 0.2% to 5% depending on the leverage level and equity amount.

Spreads

Oliver FX Ltd offers varied spreads on a variety of currency pairs and financial instruments. For common currency pairs like EUR/USD, the standard commission-free account offers spreads as low as 0.9 points, while the original spread account offers spreads as low as 0.0 points. Other currency pairs such as AUD/USD, EUR/GBP, USD/CHF, and GBP/USD also have varying spreads depending on the type of account.

Deposit & Withdrawal

The website does not provide details about accepted payment methods, minimum deposit requirements, withdrawal processing times, or any associated fees. It is recommended to reach out to their customer support or consult their terms and conditions for more accurate and up-to-date information regarding deposit and withdrawal procedures.

Trading Platforms

Oliver FX Ltd offers a range of trading platforms, including HT5 for iOS, HT5 for Android, and HT5 PC. These platforms provide traders with access to their accounts and the ability to trade in real or simulated accounts anytime, anywhere. The HT5 mobile app allows users to stay updated with real-time quotes, place orders quickly, view open positions on real-time charts, monitor account information, and easily browse financial reports. The platforms are fully compatible with the main operating systems, making them accessible to both iOS and Android users. Additionally, the HT5 platform offers a full set of technical analysis tools, access to the latest financial news, 128-bit encryption for ultimate security, built-in help functions with a user guide, real-time quotations of different financial instruments, a historical quotation database with edit and export/import functions, and the ability to create custom programmed transaction operations.

Pros and Cons

Pros Cons
Access to accounts and ability to trade anytime, anywhere No alternative options
Real-time quotes, quick order placement, and viewing open positions
Compatibility with iOS and Android operating systems
Full set of technical analysis tools and access to financial news

Customer Support

Oliver FX Ltd provides customer support via email at service@oliverfx.com.

Conclusion

In conclusion, Oliver FX Limited, based in the United Kingdom, has both advantages and disadvantages. On the positive side, the company offers a variety of market instruments for trading, including cryptocurrencies, forex, oil, metals, and indices. They provide leverage options based on the trader's account equity, and their trading platforms, such as HT5 for iOS, Android, and PC. However, there are significant drawbacks to consider. Oliver FX Ltd is currently unauthorized and unregulated by any regulatory agency, which poses risks for traders. The lack of transparency regarding account types, deposit and withdrawal procedures, and payment methods is also a concern. Additionally, specific information about the company's license status and trading software is not provided. Caution is advised when dealing with an unauthorized and unregulated broker like Oliver FX Ltd.

FAQs

Q: Is Oliver FX Ltd a regulated company?

A: No, Oliver FX Ltd is currently unauthorized and not regulated by any regulatory agency.

Q: What market instruments can I trade with Oliver?

A: Oliver offers trading opportunities in cryptocurrencies, forex, oil, metals, and index products.

Q: What are the account types offered by Oliver?

A: Oliver offers two types of accounts: the original spread account and the commission-free standard account.

Q: How can I open an account with Oliver FX Ltd?

A: Visit the official website, click on “Open a real account,” fill in the required information, verify your email, and complete the registration process.

Q: What leverage options does Oliver provide?

A: The leverage levels range from 1:500 to 1:20, based on the equity of the trader's account.

Q: What are the spreads offered by Oliver?

A: The spreads vary depending on the currency pairs and account type, with options as low as 0.0 points for the original spread account.

Q: What trading platforms does Oliver offer?

A: Oliver offers HT5 platforms for iOS, Android, and PC.

Q: How can I contact Oliver FX Ltd customer support?

A: You can reach Oliver FX Ltd's customer support via email at service@oliverfx.com.

Broker Information

Company Name

Oliver FX Limited

Company Abbreviation

Oliver

Regulatory Status

Suspicious Clone

Platform registered country and region

United Kingdom

Company website
Phone of the company

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Customer Service Email Address
  • service@oliverfx.com

Company Summary

User Reviews

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Logan Baker
more than one year
I placed a buy order, but my order was not executed for several seconds. By the time my order was executed, the price of the currency pair had moved against me, and I lost a significant amount of money. Another time, I was trying to close a trade, but my order was not executed for several seconds. By the time my order was executed, the price of the currency pair had moved against me, and I lost more money. I have contacted Oliver customer support on several occasions about their delayed order execution, but they have not been able to resolve the issue.
2023-10-12 12:30
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nN
more than one year
The dreaded slippage. Oliverseems to love it. Slippage happened so often it was like a surprise party you didn't want to attend. Every trade felt like a game of chance. Would I get the price I wanted, or would it be miles away? Frustrating, to say the least. QRSFX's spreads were ridiculously wide. It's like they wanted to vacuum up every cent I earned. These spreads didn't just nibble into my profits.
2023-10-11 11:59
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