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OMC Markets Review - is it scam or safe?

OMC Markets review - Is omcmarkets.com scam or good forex broker?

RATING: 1 / 16 REVIEWS OMC Markets
OMC Markets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


OMC Markets is a forex and CFD broker offering a good choice of currency pairs and CFD on a variety assets, from commodities and precious metals to stocks, bonds, ETFs and even crypto coins. If you are considering opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Basic Account $250 1:200 3,5 pips, floating
Bronze Account $10 000 1:200 n/a
Silver Account $25 000 1:200 n/a
Gold Account $50 000 1:200 n/a
Platinum Account $100 000 1:200 n/a
Black Account n/a n/a n/a

 

OMC Markets Advantages:

 

Various asset classes including cryoto CFDs

 

Possibly this is the only true advantage with this broker. When we tested their trading platform with a demo account, we came across various asset classes and a really good selection of forex pairs, including some exotic currencies like South African Rand, Turkish Lira, Singapore Dollar, Swedish Krona, Russian Rubble, Polish Zloty, Norwegian Krone, Mexican Peso, Israeli Shekel, Hungarian Forint, Honk Kong Dollar, Danish Krone and Chinese Yuan. Overall we counted 52 currency pairs. 

 

Apart form that the broker offers CFDs on precious metals like gold, silver, platinum and palladium, agricultural and energy commodities like natural gas, oil, wheat, sugar, soybean, orange juice, cotton, corn, coffee and cocoa, stocks, ETFs, bonds, and even crypto coins, including Zcash, Ripple, Monero, Stellar, QTUM, Tron, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin, Bitcoin Gold, Bitcoin Cash and Cardano. Still here you may also check our list of brokers offering Bitcoin CFD as well:

 

>>Bitcoin Forex Brokers<<

 

Maximum leverage of up to 1:200

 

With a leverage of up to 1:200 traders can easily apply even the most aggressive trading strategy. Higher leverage, however, comes with  an implied risk of loosing your funds much faster, so traders should be extra cautious when choosing leverage over 1:100.

 

Acceptable minimum deposit requirement

 

You can start trading at OMC Markets with just 250 USD and that is in line with what most brokers ask for a standard account. Still have in mind that some big players like FBS and IG do not have a minimum deposit requirement at all. Apart form that to open one of the premium accounts you will have to invest between 10 000 USD and 100 000 USD.

 

Popular e-wallets and Bitcoin accepted as payment methods

 

As with most other brokers, you can fund your account at OMC Markets using major credit or debit cards like VISA, MasterCard and American Express, popular e-wallets like Cirrus, WorldPay, JCB, PayPal and Sage as well as a wire transfer.

 

At OMC Markets you can also fund your account with Bitcoin. And as all crypto assets are getting more and more popular these days, here you may check our list of brokers also accepting bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

OMC Markets Disadvantages:

 

No license

 

OMC Markets is owned and operated by  by Eventuall Limited – a company based in  Montenegro. Unfortunately the broker does not have a license to provide financial services on major markets like EU, the USA, Australia and Japan. 

 

As regulation is crucial for the safety of any investment, we should note that all legit brokers are regulated by respected financial institutions such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC). 

 

Regulated brokers are obliged to follow strict ethical and financial rules, among which to maintain a certain minimum operational capital, to hold all customers funds in a segregated, protected form creditors account and in some cases even to insure traders money.

 

For example, in case their broker is unable to pay, all traders with FCA brokers are entitled to a compensation of up to 50 000 GBP. Similarly, traders with CySEC brokers can receive back up to 20 000 EUR of their capital. Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Unusual withdraw conditions

 

You should be very careful, when accepting bonuses form OMC Markets as they are linked to some rather unusual withdraw conditions. Actually, if you accept a bonus (“risk free trade” is also considered a bonus) you will not be able to withdraw anything form your account until you reach a certain trading volume. 

 

 

The example given in OMC Markets Terms and Conditions explains that if you accept 100 EUR bonus, you will have to reach a trading volume of at least 1 250 000 EUR before you will be able to withdraw anything form your account. You may take a look for yourself:

 

 

Uncompetitive spreads

 

As tested with a demo account the benchmark EURUSD spread fluctuated about 3,5 pips, which is way above the levels traders consider acceptable. Have in mind that starting spreads are considered acceptable only below 1,5 pips. Here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

OMC Markets offers its clients an overly simplified, web based trading platform, that actually resembles a binary options platform – we have seen a lot like those around until the European Securities and Markets Authority (ESMA) banned all binary options bets in EU in the beginning of July.

 

 

Back to the point - the web based solution offered by OMC Markets lacks many of the standard features well known platforms like the MetaTrader4 support. Fore example there is no option to run automated trading sessions and that is a definite disadvantage. Here you may check our list of brokers, offering the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

OMC Markets is an unregulated broker with rather low credibility, which on top of that offers spreads that are three times higher than normal. However, our main concern remains the broker's shady regulatory status. As we already discussed, unfortunately most unregulated brokers are involved in scam. 

 

Latest news about OMC Markets
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Traders` reviews for OMC Markets

Spread

Pros

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Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Phishing scam

conned me out of 2500 at Christmas worst time of my life I have since reported to the police awaiting investigation. How they are still allowed to swindle innocent traders in this way is sickening

David linde 01/11/2019

Thieves stay away!!!!!!

After trading for months told me to take out a loan to invest more into this dishonest spread told me I will get money back in 3weeks after wich I asked for money back & nothing!!!!nothing at all!!i have tried they don’t have an address.they are in Montenegro but lie that they are in London I have lost 4000!!!!!i am going mad!!they just took my money & ran away!!!!!
STAY AWAY OR ELSE!!!!!!

Natalie Goddard 01/09/2019

Waste of time

one star rating with all these bad reviews & it is a pity
I have come here only after my similar problems
With John greenman from OMC markets.the whole operation is a Con!!!they get you in then you kiss your money goodbye.they are not regulated by the FCA that is why they push for a hard sale with deposits.when I wanted to withdraw they said I hadn’t verified my account with I’d & proof of address wich was a lie became all were provided.they still have 3675 of my money wich I doubt I will get back.omc markets are the best con artist in this business tell your friends & family.they are very bad dishonest people & like it says below on the other comments they have English names but are all very foreign in their speech it’s all very suspect.music swearing in the background when the so called broker John greenman would telephone me.AVOID AT ALL COSTS.THE AUTHORITIES HAVE BEEN INFORMED.BEWARE

Elliot broadbent 01/09/2019

Withdrawals not being paid

After numerous follow ups the withdrawals I have made have not been paid into my bank account. I was even requested to pay a commission before the one withdrawal and I am still awaiting this withdrawal as I accepted and trusted what OMC's advisor (known as Raymond) was telling me. I have tried to contact Raymond on his Skype account but although reading my messages he does not respond or take my calls.

Connull Liddell 01/07/2019

Omc platform

Trading platform is not stable and does not allow placing orders sometimes and does not display open markets in some

Gerhard F Kempe 01/05/2019

The biggest forex scam. A huge con

I’m really glad I found somewhere to share my traumatic experience with this company

OMCMARKETS is all a big CON it is run by a gang of crooks.they lure you in with unreal/faketrades.Any money you deposit with them,you will never get back.they will then stop calling you and ignore your calls.I lost 2000 & they lied and said they’re offices are in London & I strongly suspect the names they definitely false

OMC MARKETS THIS IS A GANG OF CRIMINALS

Alice kenburn 01/04/2019

OMC Broker is a scam

Very suspect call handlers claiming they are from England with foreign tones.after a few weeks of trading with the minimum of 250 euro I had been tricked into believing I could withdraw my profits at anytime.i tried to withdraw my profits of 650 before Christmas only to have my request refused.soon after that a direct breakdown in communication ensued due to them asking me to invest more money, to which I declined.i referred to my initial request of withdrawal of my profits to only be told I would get it soon but no exact date could be given strangely.i have since found out that they are not regulated by the FCA hence this malpractice is done very easily.i have since tried to contact the broker.who now choses to ignore me but upon me looking on my account there are trades being put on without my consent with the same funds I had requested to withdraw

I have reported it to the action fraud police.i am very frustrated with this situation .my advice is do not do any business with omc markets

tristan seligman 01/04/2019

Very, very bad company

I gave them money I invest they tell me please lets make good trade I stay with this company 8 weeks. I want to take out withdraw money to pay back loan & I never get my money. Nobody wanna talk to me when I ring I try best to fight & my husband argue with this company & never give me any money I lose 4500 euro.I very angry .This is thief company their very bad they just steal you re money.Please stay away you will never get money payback they never let me withdraw I am so sad and very cry.I have called the police to help me they say they have many crimes on file by OMCmarkets to so many people!!

Angie Martinez 01/02/2019

Do not deposit or trade with OMCMarkets

they cold called me numerous times until I stupidly gave in deposited €500 didn’t really understand it all but I was guaranteed I would make good profits after 1 month I had supposedly made €1100 due to them constantly pressuring me to deposit more money I decided it was not for me then I requested to withdraw my funds & that is when the debauchery started.they told me the money was on its way to my bank for weeks I threatened them with legal action
And I still got the same story.then they started ignoring my calls & not replying to my emails & here I am 9months down the line with nothing.it is a very well setup scam they all tell you English names but yet they are based somewhere in Montenegro and they are unlicensed.my advice to whom it may concern is do not fall for it.this is purely robbery at its best.this is a fake establishment from top to bottom.stole my money

Amber Mathew-Grayson 01/02/2019

Biggest Scam Stay Away!!!!!!!

They have no fca license
They trading ofshore
They all use fake english names when they all have thick foreign accents
They have a fake compliance team
They have a fake & iconsistent spread
They make fake trades up to make u think u r doing good
Do not I repeat do not deposit any money with these
The moment you hit withdraw...You get every excuse under the sun & you
Will never see your money again
Fakw names are john green man,alice k,mike miller & others

Stay away this is the biggesr scam company there is!!!!!!!

Harry walters 12/31/2018

OMC Markets - Bigest pieces of sh*t I have ever seen. Stay away!

This broker is awful. Starting from the spreads that are huge, the constant errors on the platform signing different prices just to make you loose more money, the communication which is terrible. I needed to send numerous messages on the chat just to make sure they responded but whenever they needed to propose robots&stuff they would call hundreds of times.

BUT THE WORST PART IS YOU CANNOT HAVE YOUR MONEY BACK!!! I have been waiting, texting in the chat where the account manager would not bother to answer if not ONCE, when he told me to answer the phone. They call, telling you that you will have your money soon, BUT THESE ARE ONLY LIES. Nothing happens after. I have sent tons of mails everywere, from the support, to the compliance department, to the account manager and financial advisor. They do not bother to answer. The only answer I ever recieved was from the support saying "we are aware of your request".

AGAI; STAY AWAY FROM THESE THIEFS!!

Sonia 12/17/2018

Scam???

I began with 250 €, I got it back, but I invested 20000 €, I earned 212000€.

They invested in mac donalds, and to not lose money they put 10000€ from the company in my account without asking my agreement. Now they ask me to send 5000 € to be able to have a withdrawal of 100000 € on my account????

What must I do?

I do not trust in.

Servais V 12/15/2018

Scam! Alex Roberts is a crook!

OMC Markets are a scam. You will never get your deposit funds returned. They will take all your money. Be careful they are not regulated. All efforts to have my hard earned money returned failed. Alex Roberts is a crook.

terence Webster 12/12/2018

Scam - no contact

Hello,I had a conversation with one Jonathan from your office. He guided me to remit the sum $348.20 since 4th November 2018.

He told me that I will be contacted soon.I completed the all necessary requirements and one Alex confirmed it and told me that he is my financial adviser.

All efforts to reach Alex Roberts or Jonathan failed. I have sent series of emails ,the only replies I receive are we shall contact you, be patient.\The following may help to trace them: Transaction* e3d4774c-8848-43b9a841-44e9a, Order ID 1541407478-470806

Levi Ogbonna 12/02/2018

Scammer - i loss 7000 euro

this company is a scammer.they take all your money , i loss 7000 euro . they not receive my call .please do not give them money and dont open account with them . you can build your account but never see your money , please never open account with unregulated company , because police can not help also . than loss all like me .they are totally scammer .

md aminur rahman 10/22/2018

OMC Markets SCAM

Their name should be OMG. This Dennis Black or whatever his real name is, is the biggest liar on earth. He doesn't even mind to do it on Email.Their strategy is simple: After deposit they start hair splitting about the verification process which must be in colour blah blah.They ACCEPT the CCV in black and white but use that as a excuse to disqualify you and hence keep your deposit which you will never see again. In other words they deliberately trick you with this ridiculous turnover to prevent you from withdrawing anything in spite of what Mr Black promised "you can withdraw your money any time in the 7 day trial period". May they suffer a painful death and leave their families in destitude

Christoffel L Laubscher 10/17/2018
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