Abstract：O3FX is an online forex operating brokerage firm that provides traders with online trade services. However, can this broker make your money safe? To find the answer, WikiFX has made a comprehensive review of O3FX and you should not miss it.
O3FX is an online forex operating brokerage firm that provides traders with online trading services. It is rooted in the United Arab Emirates. The physical address for this broker is International City CBD D3 Building, Ground Floor Office Showroom-Dubai-United Arab Emirates.
For unknown reasons, the website of O3FX cannot be opened. We can not get enough information about this broker, such as legal documents, spreads, and financial instruments, since we have no access to its website.
Information on Twitter
It is weird for a broker whose website cannot be opened to have an official Twitter account. This account was established in April 2022. And as of August 12, 2022, it has only 5 followers.
Please note that this broker does not use either MT4 or MT5 as its main trading platform. It is a big shortage since MT4 and MT5 are the most popular trading platform in the current forex market.
According to WikiFX, this broker is not regulated. An unregulated broker is more likely to take your assets away fraudulently. If something goes wrong, no one can hold it accountable. Thus, WikiFX has given this broker a very low rating of 1.08/10.
How the risk looks like
Tempting enough as its offer seems to look, O3FX tries its best to persuade customers to invest with them. They are likely to forge some fake reports to make you believe that there are a lot of potential returns as long as you invest in them. Once you deposit, your money probably go shores where it disappears, so you will have almost no chargeback option left. They may also give you some profits so as to make you deposit more. Once the trap becomes so obvious, they will stop responding to you and your funds are no longer under your control.
We do not think that O3FX can make your money safe if you insist on investing in O3FX. O3FX is an unlicensed broker with a very low WikiFX score. We advise all traders to make more research and pay attention to the potential risks before they make a decision. WikiFX contains details of more than 36,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.
The new solution also eases KYC checks and deposit process. It was developed to meet brokers' demand for an easier onboarding process for traders.
The broker offers more than 150 CFD products and specialty instruments, It has also secured VASP registration from Greece's financial market supervisor.
No names of individuals or entities are known at this point.
The revenue of FXCM UK for 2021 was $13.6 million, a 12% decrease from $15.4 million in 2020. The company's net profit for the year decreased from $4.9 million in 2020 to only $227,982 in 2021, just over breakeven.