de | cn | ru

OSG Forex Review - is it scam or safe?

OSG Forex Review - is osgforex.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz OSG Forex
OSG Forex is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS

Scammed by OSG Forex ? Click here!

Trading Accounts & Conditions

 

Account type   Minimum deposit Minimum trade size Maximum leverage Spreads 
Basic $50 0.01 1:500 1.4 pips
Standard $5 000 0.05 1:500 1.2 pips
Premium $50 000 0.1 1:200 1.0 pips

 

Clients of OSG Forex are offered a choice of several account types, all of which are said to offer commission-free trading with variable spreads and rather high leverage levels on the industry’s standard Metatrader 4 platform. Micro tradeable lots are available on Basic and Standard accounts, and all accounts have a swap-free option.

 

In addition, there are two more account types - Institutional & Corporate Pro. They are intended for institutional clients and require vary large initial deposits.

 

Overall, OSG Forex’s trading conditions are average, with comparatively low initial investment required and average variable spreads – typical ones on the EUR/USD pair amount to 1.4 pips. There are hundreds of brokers, may be even thousands, offering similar trading conditions. OSG Forex does not stand out among them in any way and we cannot find a reason why would a trader prefer this broker over all the duly regulated ones.

 

In addition, according to the Terms of business published on its website, OSG Forex acts as Market Maker. Although the quotes of such brokers are usually less volatile than the ones of NDD companies, market makers may trade against you, making money when you lose.

 

The Company. Security of Funds

 

Company

Country

Regulation

Optimum Standard International Group (HK) Limited

Hong Kong

N/A

 

Headquartered in Hong Kong, OSG Forex claims to be authorized and regulated by the Hong Kong Government. We suppose that the company behind the brand, Optimum Standard International Group (HK) Limited, is simply registered in the country, as the regulatory body responsible for the licensing and supervision of forex brokers in Hong Kong is the Hong Kong Securities and Futures Commission (SFC).

 

Our check in the public register of SFC revealed that OSG Forex is not licensed in Hong Kong. What is more,the SFC has published a warning against OSG Forex. According to the regulator, the owner of the brokerage Optimum Standard International Group Limited, is falsely claiming to be located at an address in Hong Kong.

 

We keep reiterating that doing business with unregulated (offshore) brokers is extremely risky as there is limited client protection, if any. Therefore, we advise traders to avoid such companies and to select among brokers licensed by the respective authorities in the UK, or Cyprus for example.

 

Trading Platform

 

OSG Forex  claims to offer MetaTrader 4 (MT4), but when you click on the download link on the broker’s website, you get the MetaTrader5 instead.  

 

The main advantage of MetaTrader 5 (MT5) over the MT4 is the option it provides for trade on different financial markets, including stock markets, through a single account. In addition, MT5 already features hedging and MetaQuotes keeps making other enhancements to it in an effort to outphase its predecessor.

 

However, OSG Forex’s MT5 that looks like it is only connected to a MetaQuotes server and probably has nothing to do with this broker. The company name does not appear, as it usually does, coming with a client agreement in the installation process.

 

Methods of Payment

 

OSG Forex offers its clients the following payments methods: bank wire transfer, credit/debit cards, e-Wallets Skrill, Neteller, cashU, China UnionPay.

 

Conclusion

 

OSG Forex is a Hong-Kong based forex brokerage that is not regulated by the relevant financial agency in the country, although it claims to be licensed by the Hong Kong government itself. The broker claims to use the MT4, but it appears that it supports the MT5. Nonetheless, the platform available for download does not appear to be related to OSG Forex in any way. Considering the above, this broker is not recommended. Here are, in a nutshell, the pros and cons of OSG Forex:

                                                                                                                                                                    

 

Pros  Cons
Seemingly competitive trading conditions Not regulated
  Claims to use MT4, offers MT5 instead  
  MT5 does not appear related to OSG Forex 
  Market Maker model

 

Latest news about OSG Forex
No news about OSG Forex . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for OSG Forex

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

 

 

Invoice with your name on it

I'm going straight to the point, why is that an invoice with your name on it appears on my bank statement???
I never gave you any authorisation for any transaction or had any dealings with you people, if you don't want to be visited by fraud police and be sanctioned by the financial regulator, I suggest that you contact markets-trading.Com, the ones that set the scam and robbed me and you people by collaborating in the scam, are involved now and my pursuit will continue I get my money back. Fraud police and financial regulator been contacted, international agencies been contacted too
I opened a fraud dispute with my bank, what you did by billing me without any authorisation it's considered fraud, invoice was for 250euros and I want my money back !!!

Carlos Silva 10/09/2018

help

dear sirs a sum of £225.05 was taken from my account royal bank of Scotland on 18.may 2018 under the name OSG Broker.
I am unable to establish a legitimate reason for this and would much appreciate any information regarding it.

robert 08/13/2018

OSG Broker Withdrawal

A sum of £187.91 was withdrawn from my Bank of Scotland account on 25/5/2018
under the name OSG Broker.
I am unable to establish a legitimate reason for this and would much appreciate
any information regarding it.

With thanks,
Mairead Ross.

Mairead Ross 06/15/2018

Reclamo

Ero vostro cliente .login 1300247946.ho chiuso, mi dovete restituire 182 euro sulla carta preparata che ho usato quando avete ricevuto il mio primo versamento. POi mi avete detto che non va bene quella carta per ricevere in dietro i soldi quando ho voluto chiudere il conto. PoI sono dovuto darvi il numero della carta prepagata mia moglie. E non va bene. Poi ho dato il numero de
lla carta prepagata della moglie di mio fratello, e non va bene. Sono dovuto fare un altra carta prepagata della banca. Per potericevere chiudere il conto dicendomi che entro 11 giorni lavorativi ricevo i soldi. Adesso passato un mese e non ho ricevuto niente. È mi contatta la moglie di mio fratello oggi. Con l'estratto della banca. Che gli sTati retirati 100 euro in due volte 50 euro il 30 marzo della osg broker. Chiede una urgente spiegazione è la restinzione dei soldi miei è quelli di della moglie di mio fratello .entro al massimo domani. Prima di fare una denuncia alla polizidek postale e la finanza. Il mio numero di telefono e la media. 3899698279

Translated by Google:

I was your customer .login 1300247946.I closed, you have to return me 182 euro on the prepared card that I used when you received my first deposit. Then you told me that the card is not good enough to get the money back when I wanted to close the account. Then I had to give you my wife's prepaid card number. And it's not good. Then I gave the de number

The prepaid card of my brother's wife, and it's not good. I had to make another prepaid bank card. To be able to close the account telling me that within 11 working days I receive the money. Now a month has passed and I have not received anything. My brother's wife contacts me today. With the bank extract. That the parties retired 100 euros in two times 50 euros on March 30th of the osg broker. Asking for an urgent explanation is the return of my money is from my brother's wife. Before making a complaint to the postal polizidek and finance. My phone number and the average. 3899698279

Hnaien Karim 04/18/2018
de | cn | ru