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Orox Group Review - is it scam or safe?

Orox Group Review - is oroxgroup.com scam or good forex broker?

RATING: 1 / 3 REVIEWS Orox Group
Orox Group is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread 
Basic  $200 1:50 from 2.4 pips
Silver  $2 500 1:100 from 2.1 pips  
Gold  $10 000 1:150 from 1.8 pips
Platinum  $75 000 1:250 from 0.6 pips
VIP  $150 000 1:400 from 2.2 pips
Algo  $10 000 1:200 from 1.8 pips

 

As you can see from the table above, Orox Group offers as many as six account types and access to Leverate’s Sirix platform. Besides, the broker focuses on trading in cryptocurrency CFDs and has accounts especially designated for crypto trading. While this may sound attractive to some investors, don’t hurry to deposit with Orox Group – the broker is not regulated and seems quite shady – so read our thorough unbiased review first.

 

 

Orox Group Advantages

 

Sirix platform offered

Leverate’s Sirix is a good choice of a trading platform. It is an all-in-one social trading platform that allows one-click and copy trading and lets users configure lots and instruments they trade the most. The platform also contains analysis tools, charts and graphs and provides news and economic calendar.

 

Up to 1:400 in leverage

Another possible advantage of Orox Group is the solid leverage levels this broker extends to clients, up to 1:400, which will suffice the needs of all traders.

 

Brokers offering levels that high to retail clients are most likely not doing it in the best interest of traders. Nonetheless, some traders enjoy using high leverage, despite the inherent risk, and that is why we consider the availability of high leverage levels as an advantage.

 

Many CFDs, special crypto accounts

Orox Group also seems to have a very rich and diverse product portfolio. Apart from forex, its clients are offered various CFDs – on commodities, indices, stocks and the most popular cryptocurrencies. Actually this broker offers accounts designated especially for trading in coins like Bitcoin, Litecoin, Monero, Stellar, Dash, EOS, Ethereum, Ethereum Classic, and Bitcoin Cash. While the spreads on these accounts are low, keep in mind that commissions as high as 5% apply.

 

 

Orox Group’s special crypto accounts on Sirix. Click on the image to view larger.

 


>> Looking for a licensed Bitcoin broker? <<

 

 

Orox Group Disadvantages

 

Limited company information, no license

The website of Orox Group does not feature much relevant company information. In fact, we only saw a phone number in Switzerland, but it is actually unclear where are the broker’s headquarters. Also, nothing is mentioned about financial regulation, so we can safely conclude that Orox Group is one of the many brokers operating without a license.

 

This means that clients of this broker have no guarantee for the safety of their investment. It is dependent solely on the good will of the people operating the broker. Given the fact that most unregulated brokers are in fact running investment scams, potential clients of this brokerage may be open to substantial risk.

 

MT4 not available

We always view the lack of the ever-popular MetaTrader 4 (MT4) trading platform as a negative. While Sirix is iverall a nice platform, MetaQuotes’ forex trading software is the industry’s leading, and most traders prefer it. The MT4 is reliable, easy to use, and offers great charting and useful analysis tools along with numerous features and options. Besides, it is very popular for its auto trading bots, called Expert Advisors.

 


>> Prefer trading on the MT4? <<

 

High cost of trading

Although this is not as important as the other disadvantages of the broker listed above, the cost of trading is still important. The spreads announced for most account types offered by Orox Group are above the average in the sector. The majority of brokers charge something in the range of 1.0 – 1.5 pips for the EUR/USD pair, while the spreads of Orox Group start from 2.4 pips on Basic accounts.  

 

 

>> Compare the spreads of the best forex brokers <<

 

 

Conclusion

 

Orox Group is a forex and CFD broker that offers trading in various assets on Leverate’s Sirix platform, but leaves a lot of questions regarding the company behind it unanswered. This, combined with the obvious lack of financial regulation, is our most serious concern regarding this broker.

 

Considering the number of scam brokers on the forex and cryptocurrency markets trying to rip-off naive investors in every possible way, you’d better not risk it with Orox Group or any other unregulated CFD provider.

 

There are plenty of brokerages that hold licenses issued by reputable financial authorities such as UK’s FCA, Cyprus’ CySEC or Australia’s ASIC. Below, you can find more information about regulation in Cyprus as well as a list of brokers licensed there.

 

 

>> Brokers regulated in Cyprus <<

 

 

Here is a summary of our review of Orox Group:

 

Pros Cons

Sirix platform available, high leverage

Limited company information, no license

Many CFDs, special crypto accounts

MetaTrader not available

 

High cost of trading

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Traders` reviews for Orox Group

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Orox Group Scam

I would hate to live in their shoes. Haveing to live and hide behind dark walls' Very quick to pay attention when they smell your money ! Otherwise
just like lying scheming scum bags.Even the 'withdrawal' page is a farce.

They Dispicable .THeir broker manager put the phone down on me when he realised
i wanted to withdraw and he could'nt convince me otherwise ! Their support
manager alluded to the fact that maybe my balance on their page was a misprint!
Worse than a joke . My amount is too small to warrent me send in the 'big guns'
So these Arses happily share out my money and have fun together...Sickening .
Problem is you got to do your homework Really Really good to avoid these scum

Gary 07/15/2019

Orox Group is a scam

I started to trade but lost money and wanted to get my trading capital back. They went dark and I did not get any of my trading capital back. No response from them.

They also trade as OPTFinance.

Saakie Eksteen 06/30/2019

Requested my money back

thought this would be an easy fun wee gamble, but the registration requirements appear to leave you open to scam. I did NOT complete the registration and requested my money back

Henry Molloy 06/21/2019
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