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Influence index NO.1
Influence index NO.1
No valid regulatory information, please be aware of the risk!
+961 1 499 141
Pyramid scheme complaint
If you cannot verify, then they withdraw the bonus under the pretext of authentication, and the account is closed
When I completed all the conditions after I traded on the bonus account, after 3 months, I completed the tasks and told them I want to withdraw. They say that you are violating the conditions, and when I tell them to give me the transaction record, they do not send it because there is no violation in it.
Peace be upon you. On September 25, 2023, at 2:30 p.m. Iraq time, I opened a deal on the AUDCHF. I placed a tick rehearsal and reached the goal, but the deal did not close after a while. I closed with a small loss, and then after I closed with a big loss, I wrote to the company and it did not compensate me, saying it was normal since the candles had been tampered with before. The company led to a lot of losses. Attachments are in the pictures. Here is the issue.
General Information & Regulation
OXShares, a trading name of OXShare Group, presents itself as a global broker established in 2013 and registered in the United States that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500, variable spreads from 0.0 pips and low commissions on the MT5 for Android, iOS, Windows, MacOS and Webtrade MT5 trading platforms, as well as a choice of three different live account types and 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that OXShares does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.19/10. Please be aware of the risk.
OXShares advertises that it offers access to a wide range of trading instruments in financial markets, including CFDs across forex, indices, commodities (gold, silver, oil), stocks and cryptocurrencies.
Apart from demo accounts, OXShares claims to offer three types of trading accounts, namely Standard, Classic and VIP. The minimum initial deposit amount is $100 for the Standard account, while the other two account types have much higher minimum initial capital requirements of $5,000 and $50,000 respectively.
OXShares says to offer flexible leverage. Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard account can experience flexible leverage of 1:100-1:200, the Classic account with leverage of 1:200-1:300, and the VIP account can enjoy the leverage of 1:200-1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
OXShares claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account starts from 1.3 pips, the Classic account has spread from 0.6 pips, while only the VIP account holders can enjoy raw spread from 0.0 pips. As for commissions, the brokers website advertises that it charges ultra-low commissions, yet no further information of value is specified.
Trading Platform Available
Platforms available for trading at OXShares are MT5 for Android, iOS, Windows and MacOS, as well as Webtrade MT5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
OXShares says to work with numerous means of deposit and withdrawal choices, consisting of Visa, Mastercard, Skrill, Neteller, Perfect Money, whish, Western Union, Cashplus, Bank Transfer, Tether, Bitcoin and exchange. The minimum initial deposit requirement is said to be $100, while there is no mention of what the minimum withdrawal amount is.
The broker also charges some deposit and withdrawal fees, 2% fees on Visa and Mastercard, 0.5% fees on Bank Transfer, while other deposits and withdrawals are free of charge. As for the processing time of deposit and withdrawal requests, it takes 3-5 working days for Bank Transfer, while others can be processed instantly.
Bonuses & Fees
OXShares claims to offer some bonuses, yet we cannot be sure if the bonus can be withdrawn without any limitation. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
OXShares customer support can be reached by telephone: +1 (908) 617-8359, email: email@example.com or live chat. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube, Telegram and LinkedIn. Company address: United States, Michigan, Dearborn, MI 48126; Kingdom of Saudi Arabia (KSA), Riyadh, Al Kharj Rd; Egypt, Cairo, Fifth Assembly; Lebanon, Beirut, Al Hamra Street; Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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