Oxtrade Review: Is This Broker Legit or Not?
Company Overview
Company Name: | Oxtrade |
Known Websites: | https://flyoxtrade.com |
Website Availability: | No |
Address mentioned: | Beachmont Business Centre, Suite 159, Kingstown, Saint Vincent and the Grenadines |
Other Contact Information: | – |
Regulated By: | No Regulation |
Have Warnings From: | Not Recommended By Scams Report |
Domain Blacklist Status: | It seems there is no direct mention of this domain being on a blacklist.
|
Domain Age Information: |
|
Overview of Oxtrade
A forex and CFD broker with a Saint Vincent and the Grenadines registration, Oxtrade provides trading services for cryptocurrencies, indices, and currency. According to the firm, 63,000 fresh registrations and about 90,000 active traders are involved. Their headquarters are located in Saint Vincent and the Grenadines, and their phone number is 784-532-2104.
Operational Concerns
Several red flags have been associated with Oxtrade’s operations. Reports suggest that the broker employs deceptive marketing strategies, showcasing impressive but potentially fictitious profits to lure investors. These tactics often involve social media platforms, where influencers promote the platform’s purported benefits. Additionally, Oxtrade has been accused of operating without genuine brokerage services, creating an illusion of legitimacy while lacking transparency in its financial dealings.
Complaints and Negative Reviews
Oxtrade has faced significant criticism from users and industry watchdogs. The Belgian Financial Services and Markets Authority (FSMA) added Oxtrade to its warning list as a fraudulent trading platform on August 29, 2024.
Additionally, BrokersView has labeled Oxtrade as an unregulated trading platform, highlighting issues such as difficulties in fund withdrawals, exorbitant fees, and unresponsive customer support.
Regulatory Warnings
In addition to the FSMA’s warning, other regulatory bodies have expressed concerns about Oxtrade’s operations. The lack of licensing from recognized financial authorities and the blocking of its website in certain jurisdictions underscore the potential risks associated with this broker.
Scams Report Reviewed Oxtrade
Scams Report, a trusted platform for exposing fraudulent activities, has analyzed Oxtrade and found reasons for concern. The platform specializes in identifying brokers that exhibit red flags commonly associated with scams, such as unclear regulation, questionable practices, or hidden policies.
Scams Report also provides support to victims of online scams like forex trading scams, cryptocurrency schemes, social media schemes, and internet dating scams, offering free consultation and guidance on fund recovery.
If you’ve faced challenges with Oxtrade or any other broker, our experts are ready to help you take the first step toward reclaiming your funds.
COMPLAINT NOW AND GET FREE CONSULTATION HERE
Your funds stolen by Oxtrade will definitely be recovered. But you need to take the necessary step by contacting us
Our Social Pages
Note: The information provided in the above Oxtrade review is derived from existing web Oxtrade reviews. Please be aware that we cannot be held liable for any legal action taken by Oxtrade company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.