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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 / 7 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

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Took 2 lots of money

The first deposit of money didn't go through and they sent me a screenshot from my bank saying I needed to ring them. I did this and authorise the transaction, I later found out that the company had taken 2 withdrawls for the same amount within seconds of eacjph other. At first my broker was all friendly saying don't worry we'll sort this out. I screenshot the bank transaction but they said they needed a bank statement which I photographed with everything black d out except the 2 withdrawls. Since then I've heard nothing from John Bailey and his emails are bouncing back. The dispute team have answered my emails to say John will be in touch. I asked them why they couldn't sort it out after all they are the dispute team. My bank says it will be difficult to get one of the deposits back without the ARN number as they don't want to make a demand for the wrong transaction which the company are so far refusing to tell me. So basically, I've been scammed and don't think it will be resolved. How these people can choose to make a living like this is beyond me. Now that I've read other people's stories, I think it's best to give up and accept my losses as painful as that is..

Suzanne Tyson 09/21/2019

I've invested about 17000 and have lost most of it

I've been trading with orex group for a couple of months and am not in a good place with them they keep on making promises that I need to put more money in to secure my account with all I can see they've made bad investments and put my account into debt. So they keep saying we need more money to make your money back I've invested about 17000.00 and have lost most of it I feel trapped with promises of getting my money back really stressed about it all

Deborah Cooper 08/28/2019

oroxgroup and snp brokers

My son received a scam email (looking like it had come from his father who regularly recommends good saving/investing techniques). He chose to invest €250 but quickly got cold feet as he reviewed the company on this website and other scam alert sites. He has been trying to get his money back and of course is getting no joy from them at all. DO NOT TRUST these companies.....

bridger 08/20/2019

optfinance.io and oroxgroup.com stole $30k of my savings through fraud scam

OPT Finance and the Orox Group are the same company and are running a fraud scam, they stole $30k of my savings. Robert Bannister, a dutch south african, was my account manager and is nothing more than a common, lying thief. Avoid them or they will steal your savings too.
I contacted them wanting to open buy trades in bitcoin only, which I did (11 BTCUSD). But when you are unlikely to deposit anymore and your equity has grown (with bitcoins market value) and you trust them, they then insist on and instruct you to make "diversifying" crypto trades and large, catastrophic, bitcoin sell trades (15 BTCUSD). These loss-making trades wipe out all your equity and deposit, which Orox pockets.
I recorded over the phone bannister giving me step-by-step, crypto trading instructions designed to completely empty all equity and deposit from my Sirix Webtrader account. Being inexperienced in using the webtrader and believing at the time he was not trying to defraud me, I followed his instructions "if you want me as your manager" he is heard saying.
Critically, after repeatedly asking Orox to explain in writing which crypto buy/sell trades on my Orox webtrader account drained all equity and deposit from it, they refused to answer to conceal their fraud.
Warning: They get you to deposit as much as possible in high value BTCUSD buy trades offering you deals and even giving you bitcoin; they gather as much information about your bank, credit, savings accounts as possible, ostensibly for "anti-money Laundering" purposes; they want you to install notorious fraudster's remote PC control software Anydesk and Zoom; they harass you with unnecessary phone calls and emails; then finally bannister's verbal crypto trading instructions (which I have audio recordings of because my internet provider, talktalk, has banned Anydesk) empty all equity and deposits from your account.

Please email me if you need anymore information

richard 08/10/2019

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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