General Information
ONYX Broker Ltd boasts that it is one of the worlds leading online forex broker offering trading services to both individual and institutional clients. However, its simple website design, lack of essential information, such as spreads, contact information, etc, makes that quite ridiculous.
As far as we can tell, ONYX is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.14 out of 10 overall. Don't be oblivious to the potential danger.
Market Instruments
ONYX hypes that traders can get access to multiple trading assets on its platform, which include Foreign Exchange, CFD Products, Precious Metals, Futures, Indices and more.
Account Types
ONYX only offers a demo account and a live account. Tiered trading accounts are not available. A demo account is a risk-free environment in which novice investors can test trading techniques and gain experience with trading technologies without exposing themselves to real-world market hazards.
How to open an account with ONYX？
To open a real account with ONYX is not a difficult process, with a few straightforward steps for you to follow:
1. Download its CUSTOMER AGREEMENT (564 KB)
2. Fill in some required details
3. Download ONYX SOFTWARE (5MB)
4. This broker will contact you to give you your name and password
5. Fill Withdrawal form
6. A real account will be successfully opened.
Customer Support
Worryingly, we could not find any contact channels to get in touch with ONYX which means you will cannot find this broker anymore if there are issues with your trading procedure. What's more, if you have trouble making a withdrawal, any money you may have lost is gone forever.
Risk Warning
There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.
Please keep in mind that the data presented in this article is meant to serve as a guideline only.
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