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Omega FX Review - is it scam or safe?

Omega FX review - Is scam or good forex broker?

Omega FX is an offshore broker. Your money is not safe.


Omega FX is a unregulated broker, based in Estonia. They offer a number of currency pairs and CFDs on various asset classes with a leverage as high as 1:500 and the MetaTrader4 platform. Unfortunately, because of their regulatory status, we can not recommend them, and if you are still considering opening a trade account with them be sure to read this review first.


Trading account  Min. deposit Max. leverage Spread
Standard Account $250 1:500 3 pips, fixed


Omega FX Advantages:


Over 40 currency pairs and a number of CFDs


The comprehensive selection of trading instruments available at Omega FX is definitely a positive sign. We counted over 40 currency pairs, many of which crosses, minor and exotic like USDHKD, USDSGD, USDTRY, USDCNH, USDDKK, USDNOK, USDSEK, USDMXN, USDPLN, USDCZK, USDRUB and USDZAR.


The variety of CFDs is also good, covering scores of commodities and precious metals like coffee, cocoa, oil, natural gas, platinum, palladium, silver, gold and oil, 24 indices, stocks and some major crypto coins like Bitcoin, Litecoin, Dash, Ripple and Ethereum. Still, if you are tempted to trade crypto assets you may also check our list of brokers trading with bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Leverage of up to 1:500


We should start with the fact that in one section of the Omega FX website the maximum leverage was quoted to be 1:200 and in another - 1:400. As we opened a demo account, however, the leverage we were offered was as high as 1:500.


Besides, such high leverage is not that common anymore, because of the restrictions imposed on many regulated markets like the European Union, the U.S., Canada and Japan. Still, if you like the idea of trading with higher leverage, you may actually check our list of brokers regulated in Australia – the last major regulatory hub, where higher margin trading remains unrestricted despite of the risks:


>>Brokers regulated in Australia<<


Acceptable minimum deposit requirement


To start trading with Omega FX you will need to fund your account with minimum 250 USD and that is acceptable. Still, bear in mind that with some big names in the industry like FBS and IG you can start trading with virtually 5 USD.


Omega FX Disdvantages:


Shady background, not regulated


As we noted Omega FX is not regulated and that is a major issue. The reason – unregulated brokers are virtually unaccountable for the way they handle your money and too often they are simply involved in scam.


Brokers with legit licenses from respectable institutions like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) on the other hand are reliable as they are subject to a rigorous oversight and strict rules. Besides, with a FCA broker you will even get an insurance of up to 85 000 GBP, which will be payed to you in case your broker happen to be insolvent. Here you may check our list of FCA regulated brokers:


>>FCA Regulated Forex Brokers<<


On top of that we are not exactly sure, which is the company behind Omega FX as on their website we came across the names of two different companies - CCLR Solutions Limited and TRSystem. See for yourself:



Trading bonuses with unusual withdraw conditions


Be aware that if you accept a trading bonus by Omega FX you will not be able to withdraw until you reach a certain minimum trade volume requirement. For example if you accept 400 USD as a bonus form Omega FX, you will have to trade at least 10 million USD, before you will be allowed to withdraw your profits. And what is more, only trades which were open for 24 hours or more will be counted in the required trading lots to cover the bonus. That in practice makes any withdrawal of profits almost impossible.


Various fees


Omega FX collects various fees, including a monthly maintenance fee of 20 USD, a profit clearance fee of between 1,5 USD and 5 USD on each successful trade, a service fee of 3.5%, but not less then 30 USD on all withdraws, as well as brokerage fees, commissions, swaps, special service and other fees.


MetaTrader4 provided by a third party


The fact that such a reliable and well known trading platform like the MetaTrader4 is offered is good news by itself. Unfortunately the platform is not offered by Omega FX, but by another company - Traders Voult and that is not a usual practice as well.


Otherwise MetaTrader4 is one of the most popular trading solutions – featuring numerous market indicators, advanced charting tools and even the option to run automated trading sessions with the help of specially designed trading bots – Expert Advisors. Here you may check our list of brokers supporting the MetaTrader4 as well:


 >>MT4 Brokers<<


High spreads


As tested with a demo account the benchmark EURUSD spread was fixed as high as 3 pips and that is uncompetitive to say the least. Have in mind that spreads are generally considered attractive with a standard account, only when they start below 1,5 pips. Besides, here you may also check our list of brokers, offering tighter spreads:


>> Lowest spread forex brokers<<


Skrill not accepted as payment method


Omega FX accepts payments with credit cards like VISA and MasterCard, AstroPay, bank wire and bitcoins, but not Skrill and that is worth noting because of the new anti scam policy of the money transfer company, according which its services are available only to brokers, holding legit licenses. As we noted Omega FX is not a licensed broker:




The main issue with Omega FX is the fact that they are not licensed and in practice do not have legal right to offer brokerage services on regulated markets like the European Union or the U.S. Apart from that they have some rather unusual withdraw conditions and fees, which make trading with Omega FX pointless, even if they are not involved in scam.

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Traders` reviews for Omega FX
















Price feed















Customer service










they dont care about peoples lives

i also have a acount in there
still with money in it

i told them i need it to pay my rent else im homeless and will be living on the street

i wrote them every day back with a more intence en sad story
till my breaking point , even if you would shot yourself rather than living on the street you get this message

you have made a Withdrawal request, it is in the process now, someone from the finance department will contact you as soon as possible,please be patient.

they told me they would call but never do

they are no people but monsters
there is no way to get your money back

martijn 09/03/2019


People behind this scam are very well organized. Have you tried to defend yourself?
I bet that there are hundreds of deceived Omega FX clients. We should organize.

Miroslav Novak 08/18/2019

OmegaFX Estafa?

Ingresé 5000 euros hace dos meses en omegafx mi acount manager chiara mason me izo invertir en dos ocasiones ya que nunca se comunica conmigo y si bien los resultados han sido excelentes ya que mi saldo es ahora de casi 11.000 euros me es imposible recuperar cualquier cantidad de dinero ni grande ni pequeña. No contestan al telefono, no llaman, la cuenta esta sin operaciones abiertas y cuando solicito un reembolso me contestan con un email diciendo que tiene que estar autorizado por mi acount manager la cual ya no llama ni puedo hablar con ella. Tambien me ponen con escuss que tengo operaciones abiertas y que el reembolso no se puede egectuar y es mentira las operaciones llevan dias y dias cerradas ya que lo hacen sutomaticamente al llegar al punto fijado. No se que hacer pedi predtado este dinero y ahora no se como devolverlo si slguien me puede ayudar lo agradeceria

Translated by Google:

I entered 5000 euros two months ago in omegafx my acount manager chiara mason made me invest twice, since he never communicates with me and although the results have been excellent since my balance is now almost 11,000 euros it is impossible for me to recover any amount of Money neither big nor small. They do not answer the phone, they do not call, the account is without open operations and when I request a refund they answer me with an email saying that they must be authorized by my acount manager who no longer calls or I can speak with her. They also put me with escuss that I have open operations and that the reimbursement cannot be carried out and it is a lie the operations have been closed for days and days since they do so sutomatically when they reach the fixed point. I don't know what to do, I asked for this money and now I don't know how to return it if anyone can help me.

Sergio Bertola Coll 08/09/2019

Omega FX Experience

This is my experience:
I got contact by a gentleman referring to I did not find any interesting information there. However, I received many more phone calls and the message changed to: I can give you tips and help you trading with "TradeIdea is only a magazine web site."
I asked the guy to give me a tip which I could validate and decide on the next steps based on the results. The tip I got was not very exact "crude oil will go up". I tried to get more information so that I could evaluate the position. The only thing I got was: BUY at market (56.97) SELL at 60.00. No information about stop loss or size of the deal or related fees. I only heard that fees are very low related to holding the position open overnight (suggestet instrument was a CFD).
A week later, I got another call. Crude oil really went up. Although the overall situation looked very suspicious, I decided to give it a try. My expectations were very low. I did not assume that I would earn any big money but I wanted to get an experience with short term trading (I've been investing and holding long positions on various instruments 15+ years with very interesting returns).
I was asked to open an account at They guy showed me that a UK company, Omega Financial Services, is registered at FCA (
I opened an account with with the guy's assistance. I did not study in detail Term & Conditions (42 pages).
I asked to transfer money - 1 500EUR. Probably because of a limit on my credit card, I wired only 1 300EUR.
I got a "super cool" advice to open a small position on DAX (CFD with the leverage 50, 0.1 of contract, no stop loss, no info about fees, buy at market - around 12 182 points, take profit at 12 300). Note that if I had followed the original suggetion, I would have lost more than 1 000EUR as of today + fees.
I was reserved to by at the marked price and asked for a suggestion at which price to buy it. It was suggested to enter on the level of 12 130 points.
Fortunately, nothing got bought on that day because the price was above 12 130.
I had questions about stop loss, fees, risk ... I did not get any answers but I was told that I should wait for another call from a more senior guy on that day. I did not get any other phone call.
The next day, DAX dropped in the morning but stayed slightly above 12 130, luckily for me. In the afternoon, I got a call from the senior guy. I mentioned that I was a bit worried about the original suggestion because the price to enter was kind of an ad-hoc random decision of the guy and he was not able to define stop loss.
He suggested that I would cancel the position which I did. He promised that he will call me the next day. However, I did not receive any other call from him.
I started analyzing terms and conditions and detail and I was shocked. Their term and conditions are very beneficial for OmegaFX but horrible for their customers. I might even get troubles with wiring my money back to my account. I wanted to test it.
However, my account was not verified. I was not able to withdraw my money. Never mind, I followed the instructions and sent the requested documents to OmegaFx. However, later I got another and another notification that I need to send the documents and the mail address was different. I sent it again to a different e-mail address and after a few iterations, my account got verified. Interestingly, I got "mail undelivered" messages for the originally sent documents because the address which was in the initial instructions was wrong.
I decided to withdraw my money but I got only to a position when my request to transfer my money to my account is pending.
To conclude, I was ready for risks associated with trading and markets but I was astonished by the practices of the guys who called me and OmegaFx. I wonder whether I will be ever able to withdraw my money.

Regular Guy 08/03/2019


This is f”king SCAM!!!SCAM!!!!! DONT PUT YOUR MONEY HERE!!! They will cheat you very fast and some more will scold you: Stupid! There was one girl call me her last name is Morgan she scold me stupid! I wish her to get in troubles! Amen!

Anonymous 07/15/2019

You never withdraw your funds

Scam, very bad company never risk with such companies, every moment changes analysts and ask you to more deposit, showing wrong figures and profits.

You never withdraw your funds.

Mohammed 06/26/2019

Bad experience with OmegaFX

I have disposed money on Omega and the first contacts were very good.
I have made a profit and the contact with the accountmanager was very good.
Til the moment that i where not able to put more money in the account. This was the last time a heard from them.
The money is still on the account on metatrader and on their website account.
I tried to withdraw the money but no succes.
Still trying to get my money out of there account.
Any suggestions?

Wim 06/19/2019


Scam, withdraw always canceled

Tomas 05/21/2019

Omega FX

They rang and told me they were Omega Financial Services which is regulated in Australia but then they directed me to which is a completely different company.

Wisernow 05/16/2019

I asked to withdraw funds, not yet traded just deposited and than my account vanished

I was unable to log in after a discussion not to trade, suddenly my account was not recognised/ vanished

Sandra davis 05/03/2019
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