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Oro Markets (oro-markets.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Oro-Markets scam works by getting you to believe you can become rich by trading with them.
Oro Markets Review
It is a well-known fact that there are lucrative opportunities to explore in the financial markets and there was a time when there were a lot of barriers to entry preventing people from taking advantage of them. All of this has changed thanks to online trading, but you have to contend with new risks. One of the biggest ones is the possibility of choosing a fraudulent brokerage. It has happened too frequently for you to think it cannot happen to you. Not every company can be trusted, despite its claims, as evident in this Oro Markets review.
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Just because they walk the walk and talk the talk is no guarantee that they can be trusted. There is a lot at stake, so it is best for you to do your own homework and not take anything you read at face value. It may save you some time initially, but it can set you back in the long run. You do not want to regret it later and the key to ensuring it is by being proactive from the beginning. This means that you should look into a brokerage before you decide to open an account with it. Regardless of how tempting their offerings are, doing your homework will always benefit you.
Even if the brokerage does not turn out to be a fraud, it will help you in choosing one that can cater to your needs in the best possible way. No two companies are the same, or have the similar services and features, so knowing what to expect beforehand is never a bad thing. You will understand this in the case of Oro Markets that has presented itself as a leading CFD provider that gives you access to numerous asset classes. You can choose from forex, indices, crypto, commodities and shares and trade them at excellent conditions.
At first glance, you will find that Oro Markets comes off as a rather enigmatic broker, but can you trust this brokerage? When you do your homework, you will realize that the truth is quite different. Let’s find out.
Licensing and regulation
As mentioned earlier, when you first look at Oro Markets, it seems to be an enigmatic brokerage because it seems to have everything that a trustworthy and professional brokerage should. It seems to be the epitome of a perfect brokerage, which should alert you right away. After all, when something sounds too good to be true, it usually is, particularly where the internet is concerned. It is one thing for a company to make claims and another for them to be true.
You will see in the Oro Markets presentation that it claims to be licensed in the United Kingdom, which means that it should be listed in the online database of the Financial Conduct Authority (FCA). This is the regulatory body of the UK and issues licenses to brokers that operate in the country. No brokerage can operate without a license from the FCA, but when you check its database for Oro Markets, you do not find the company listed at all.
This is rather shocking because Oro Markets appears to be a professional brokerage and this shows that it is lying about its most important characteristic; licensing and regulation. It has given an address of an office in the UK, but you cannot take its word for it because it does not have a license. This means that there is no way for you to verify its credentials, or anything else it says. Even if it does have an office in London, it means that it is operating in the country illegally and this means that you cannot trust the brokerage at all. If it can break one law, it can break others as well.
The most crucial feature that an online broker offers to its clients is the trading software because it is used for trade execution. The software helps connect you to the market and is also integrated with various tools and functionalities that are required for making well-informed and timely decisions. It plays a vital role in your overall experience because you have to use it for most of your trading activities. Every brokerage offers a different platform ad Oro Markets has advertised the MT5 on its website.
It will not take you long to discover that the MT5 is the industry-leading trading software that comes equipped with everything that a trader needs, from beginners to professionals. Therefore, its availability at Oro Markets only adds more appeal to the broker. However, when you try to look for the link to download the MT5 on the Oro Markets website, you will be in for a rude awakening because this turns out to be yet another lie.
There is no MT5 trading software to be found on the Oro Markets website. In fact, there does not seem to be any software at all. How can you trade without one? Obviously, you cannot and this means that Oro Markets is not really a brokerage because it does not have the primary feature that every broker should have for offering trading services.
Making deposits and withdrawals is all part of the online trading process, which means you have to check out the payment methods that are supported by a broker for you to do so. This is for the purpose of convenience and safety as well. When you go through the Oro Markets website, you will notice that it has advertised an array of payment methods. There are debit and credit cards, including VISA and MasterCard, bank wire transfers, Neteller and Skrill. Plus, there are also crypto coins like Bitcoin and USDT Tether supported.
But, all of this turns out to be another ruse because when you try to make a deposit with Oro Markets, crypto coins are the only option you are given. These methods are not eligible for a chargeback, which means no refunds for you because transactions cannot be reversed.
Given the lies that Oro Markets is telling throughout its presentation, you cannot trust this broker at any cost.