Home » Oatrex Review – Oatrex.com Scam or Legit?

Oatrex Review – Oatrex.com Scam or Legit?

Oatrex Review - Oatrex.com Scam or Legit?

Obviously, Oatrex isn’t the usual broker. For one there is just too little consistency and quantity on the platform to be willing to contend with others. Note that the website’s knowledge is highly restricted and does not even educate the customer of important facts. In reality, if one does not make a deposit here, any kind of trading and payment details would not be accessible to him or her. More regarding Oatrex needs to be mentioned, and so we recommend that you read on.

The consumer must pass a basic protocol in order to join, which shows a similarity to prior sign-up procedures utilised for unlicensed organisations. However after the initial phase was finished, the users had to attach a photo ID to finalise the registration process themselves. We will usually applaud the broker for doing so but this leaves us with absolutely nothing to deal with in our situation.

As we have already said the website provides the absolute minimum of the most significant facets of knowledge. We hear from the web page that the leverage, the most common offshore brokerage value, is capped at 1:500. The spread begins at 0.1 pip for an undisclosed commodity, and there are over 100 securities. As there is no way to check it we do not vouch for this detail. Our loss of faith in Oatrex is rising by the minute.

It is unlikely to convert the website from its initial English edition.

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Oatrex Review - Oatrex.com Scam or Legit?
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OATREX Legal Status and Regulation

Unfortunately, though not too shockingly, no regulatory details were released by Oatrex at all! In the website there is completely nothing to either hint at a licence or physical address.

In addition, given the lack of data consistency, the outdated website, and the broker’s general feel and look, we do not question for an instant that Oatrex is unlawful.

The website is rather restrictive, as we mentioned in the intro to the study. To also expand on this, the legal papers are like that. They are very limited in length, and are hardly able to tell users on any of the key points. It is another rather strong indicator that the business is uncontrolled, and a threat.

There is no incentive at all to invest in a broker that is uncontrolled. Regarding the option of a dealer, the safest recommendation there is to always search for a licence. You are off to maybe the strongest start if the dealer has an FCA and CySEC authorization, since these are some of the industry’s biggest regulators. Genuine FX overseers usually implement a series of guidelines for each of their specified brokers.

To meet rather specific rules, brokers form an arrangement with them. In addition, certain companies provide payout plans that compensate customers whose dealers have been insolvent, such as the FCA or CySEC. A regulated broker, as you can see, helps not only the company itself, but also the traders.

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Oatrex Depot and Withdrawal Info

The same theory extends to expenditure data in the absence of exchanging facts. In reality, the only bit of knowledge we have is that $1000 is alleged to be the minimum deposit. This is a ludicrous necessity, since too much is not prepared to be deposited by most consumers. And anyway, another hint that the broker is unauthorized is their deposit requirement.

In the hunt for reimbursement information, the brief and restricted legal records were not helpful either. No withdrawal specifics have been listed on the platform, nor is there a clearance for any extra payments. It appears like registering is the only way of learning about the broker, and this is something we are pressing against!

Oatrex has proved to be a dealer that is untrustworthy and unchecked. There is simply no need to put a deposit here!

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