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O4Trade Review - is it scam or safe?

O4Trade Review - Is scam or good forex broker?

O4Trade is an offshore broker. Your money is not safe.


Trading Accounts & Conditions


Account type
Minimum deposit Maximum leverage Spread
Standard $250 Unspecified Fixed, from 3 pips

O4Trade is a forex and CFD broker. While their website may be mistaken for a binary options platform, in reality they offer spot trading. While this is a more complicated (and some may say preferable) style of accessing the markets, there are a lot of issues with this company.

O4Trade Advantages

A lot of instruments
O4Trade provides a wide array of assets – around 40 currency pairs, Bitcoin, indices, and commodities and even some stock-specific CFDs. While the latter does only includes major companies, instead of a full listing of a particular exchange, but few brokerages provide this.

O4Trade Disadvantages


Offshore company
O4Trade is based on the Marshal Islands. This does not inspire much credibility. Check the link below for more details on trading with an offshore company.

>>The risks involved with offshore brokers<<

High fixed spreads

The spreads provided by this broker are fixed, but more importantly fixed at a relatively high level. The EUR/USD one we saw, when testing the platform was 3 pips. One could find a much better fixed offer at other brokers, like easyMarkets, where you get a 1 pip fixed sprad on the most liquid currency pair, if you deposit more than $250. Floating spreads on the other hand can go even lower. For more information, check the link below.

>>Forex spread comparison<<

Some conditions not mentioned
While O4Trade provides a full list of the available trading instruments, they have forgotten to mention the actual contract specifics. We had to test the service in order to see the spreads. The leverage ratio is also not specified.

Rather poor platform

The trading software provided by O4Trade is web-based and pretty similar to a binary options platform. By default the charts are set to line view and while they can’t be adjusted, they are not that impressive. There are no technical indicators and even zooming-in feels rather strange. The only positive thing we found is the “pending news releases” section in the lower part of the platform. Here is a preview:


A serious trader should demand more from his trading platform. One which we will always recommend is Meta Trader 4 (MT4). This software solution has stood the test of time, with its supreme charting and support for custom indicators and automated trading systems.

>>Brokers offering MT4<<

Relatively high deposit requirement

The minimum deposit at O4Trade is $250. For some this isn’t an amazing amount, but then again some brokers are targeting those who are willing to risk even less. For instance, the top-tier FCA-regulated broker IG, doesn’t even have an entry barrier.

Few payment methods
The ways of making a transaction to and from this broker are only Credit Card and Bank Transfer, according to their FAQ section. On the other hand the logos of several e-wallets are present on the front page. We believe it’s safer to assume the information section is true.

Withdrawal rules
There is a $100 minimum withdrawal level at O4Trade. This means, a newcomer, who deposits $250 and loses a significant amount of his account may end up in a pickle. If you have $90, you will either have to trade, hoping to get to a 100, or deposit extra, in order to withdraw.


O4Trade is an offshore forex broker. They offer an impressive number of trading instruments, but basically everything else connected with them is below par. Spreads are high, there is a high deposit requirement and the platform is not ideal.

The main issue with this company is the legal environment in which they operate. The Marshal Islands aren’t exactly associated with tight regulation. A much more reliable jurisdiction for trading is the United Kingdom. The Financial Conduct Authority (better known as the FCA) is the local watchdog.

>>A list of FCA regulated brokers<<

Brokers regulated there must follow a lot of strict rules. One of them is keeping client deposits in segregated accounts, which can’t be accessed at free will. Furthermore participation in the Financial Services Compensation Scheme (FSCS) is mandatory. This is a collective fund, where brokers periodically set aside a portion of their profit. In case one of the companies involved happens to go bankrupt, all traders there will be compensated up to £50,000.

To recap O4Trade:

Pros Cons
A lot of instruments Offshore company
  High fixed spreads
  Some conditions not mentioned
  Rather poor platform
  Few payment methods
  Withdrawal rules


Latest news about O4Trade
No news about O4Trade. Check back later.
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Traders` reviews for O4Trade
















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o4trade scam

DO not invest any money with any from Insta24 or o4trade. They will steal your money. they have stolen 7000 USD from me.

Thomas 08/14/2018

No Withdrawals

They work closely with instafx24 and they are crooks and are not contactable. Pls avoid them.

Yongi 04/24/2018

They are unreachable

The information is so limited when it comes to their trading clients. Fees are charged with no explanation. They are unreachable when you are in need.

Asaph Tshigeng 04/11/2018
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