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    WikiFX Visited Ortega Capital in Malaysia

    Abstract:Recently, investors reported that the broker Ortega Capital’s address on its official website and its regulatory address on LFSA (Labuan Financial Services Authority) website are inconsistent. The broker also charges a minimum deposit of US$ 5,000, and the demo account registered by new user cannot access the server.
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      Broker: Ortega Capital

      Location: Suite B-01, Lot 6, 1st Floor, SU3104 Jalan Tun Mustapha, 87007 Labuan F.T, Malaysia

      Conclusion: Broker‘s licensed branch doesn’t exist

      Background

      Recently, investors reported that the broker Ortega Capital‘s address on its official website and its regulatory address on LFSA (Labuan Financial Services Authority) website are inconsistent. The broker also charges a minimum deposit of US$ 5,000, and the demo account registered by new user cannot access the server. At the request of investors, WikiFX survey team decided to visit Ortega Capital’s licensed branch in Malaysia for more details.

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    Ortega Capital’s regulatory address on LFSA website

      On-the-spot investigation

      According to the brokers regulatory address on LFSA, we found the building where Ortega Capital should be located. Taking a closer look, we found that all the shops in the building were closed, with no one in or out, and there were no signs of business. Is Ortega Capital another “shell company”? In order to ensure an accurate survey results, we went into the building and looked carefully door to door, but failed to find any clues related to Ortega Capital. We thus conclude that the building is empty with no one working there.

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    Exterior of the building

    2-2.jpg
    The side of the building

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    The building was quite deserted

    2-4.jpg
    Shops in the building were all shut down

      Conclusion

      Through our on-site investigation, Ortega Capital‘s branch in Malaysia doesn’t exist. Per checking WikiFX App, Ortega Capitals rating is only 1.29, while the LFSA license it claims to hold is suspected to be a cloned one. The broker is currently without valid regulation, and investors should stay away from it to avoid potential risks.

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    Ortega Capital is suspected to hold cloned license

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