Warning Investors OneFxGroup – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Introduction To OneFxGroup:
OneFxGroup is an online trading platform that offers forex and CFD trading on indices, commodities, stocks, cryptocurrencies, and more. The broker claims to have offices in the UK, Australia, Canada, and Hong Kong, and to provide access to over 200 trading instruments, competitive spreads, fast execution, and various account types. However, there is little information about the company behind OneFxGroup, its ownership, history, or reputation. The broker also does not disclose any details about its trading conditions, fees, commissions, leverage, or platforms.
Regulation and Compliance Of OneFxGroup:
One of the most important factors to consider when choosing a broker is its regulation and compliance status. A regulated broker is subject to oversight and supervision by a reputable authority that ensures the broker follows the rules and standards of the industry. A compliant broker also provides protection and security for its clients’ funds and data, as well as recourse and compensation in case of disputes or issues. Unfortunately, OneFxGroup is not a regulated or compliant broker. Several regulators have issued warnings against this broker for operating without proper authorization and registration. These regulators include:
– The Autorité des marchés financiers (AMF) of France, warned that OneFxGroup is not authorized to provide investment services or activities in France or from France.
– The Australian Securities and Investments Commission (ASIC), warned that OneFxGroup is not licensed or registered to offer financial services in Australia.
– The British Columbia Securities Commission (BCSC) of Canada, which warned that OneFxGroup is not registered to trade in, or advise on, securities or derivatives in British Columbia.
These warnings indicate that OneFxGroup is a potential scam broker that may be involved in fraudulent or illegal activities. Trading with such a broker exposes traders to a high risk of losing their money or becoming victims of identity theft.
Customer Support Offered By OneFxGroup:
Another factor to consider when choosing a broker is its customer support quality. A good broker should provide responsive, helpful, and professional support to its clients through various channels and languages. However, OneFxGroup does not seem to offer any customer support at all. The broker does not provide any contact information on its website, such as phone number, email address, live chat, or social media. The only way to reach the broker is through a web form that requires personal details and a message. There is no guarantee that the broker will reply or address any queries or complaints from its clients.
Customer Reviews Of OneFxGroup:
A third factor to consider when choosing a broker is its customer reviews. A reputable broker should have positive feedback from its clients who are satisfied with its services and performance. However, OneFxGroup does not have any customer reviews on its website or any other online platforms. This suggests that the broker either has no clients at all or has deleted or censored any negative reviews from its clients. The lack of customer reviews also makes it difficult to verify the claims and promises made by the broker on its website.
Measures To Avoid Fraud Brokerages:
Given the red flags and warnings associated with OneFxGroup, traders should avoid this broker and look for a better alternative. Here are some measures to avoid fraud brokerages:
– Check the regulation and compliance status of the broker before signing up or depositing any money. Look for brokers that are regulated by reputable authorities such as the FCA (UK), CySEC (Cyprus), ASIC (Australia), or NFA (US).
– Check the customer support quality of the broker before opening an account or trading with them. Look for brokers that provide multiple contact options and languages, as well as prompt and courteous responses.
– Check the customer reviews of the broker before trusting them with your money or personal information. Look for brokers that have positive feedback from their clients on various online platforms such as Trustpilot, Forex Peace Army, or Myfxbook.
– Check the trading conditions and features of the broker before choosing them as your partner. Look for brokers that offer transparent and competitive trading terms such as spreads, fees, commissions, leverage, platforms, instruments, etc.
Conclusion:
OneFxGroup is a forex and CFD broker that claims to offer trading services in various markets. However, several regulators have issued warnings against this broker for operating without proper authorization and registration. The broker also does not provide any customer support or reviews on its website or elsewhere. Trading with this broker exposes traders to a high risk of losing their money or becoming victims of identity theft. Therefore, we recommend that traders avoid OneFxGroup and look for a reliable and regulated broker that can provide them with a safe and secure trading environment.
