Omegacryptos.com Review – Bogus Brokerage Platform

Omegacryptos.com claims to be a new binary options broker who supposedly helps retail clients get the best out of the market with limited risk. Their whereabouts are unverified, but the funny thing is they provide an US address, but they are not under the radar of the FTC. Offering high risk investment products without proper licenses is a serious offence and looking at the actions of this firm, they will face criminal prosecution in the near future.

They also flaunt about the educational outlet on their website and the way they the so called fund managers help the clients make trading decisions. However, as there is not a single shred of evidence, we can’t believe anything they say. We did find a few positive and cheesy comments on this website, but there is no way to verify the existence of the client.

So, it is better not to believe in the kind of comments they portray. After all, they do have high conflict of interest with the clients. Trading binary options has its own merits and demerits. The available information about the markets on the internet has a high probability of overwhelming you. Before you make any firm decision about this brokerage, go through our review once and it will show you the core reality about their platform.

Licenses, Firm and Customer Support

The law around the binary options segment is very strict and the barriers to entry are not small, like it used to be. Thanks to the countless scams over the last 3 to 5 years, the law enforcement agencies have refined their policies in an effective manner. Sadly, though the number of scams have gone down exponentially, they still aren’t completely eradicated.

In theory, there is nothing wrong with indulging with unregulated brokers, but remember they carry high risk, because of the lack of proper measures against adverse events and malpractices. This brokerage claims to be operating from the US, but we couldn’t find any legal document to verify their claims. So, without doubt we can say that they are bluffing and as such they have lost all their credibility.

Since the details of the actual creators and owners of the brokerage are kept confidential by them, it is a little hard for the law to catch up to them. However, eventually they will get shut down and all the parties involved will be put behind bars. As far as contact details are considered, know that we have listed all the information below.

They mainly communicate via email and the attempts made by them to stay anonymous is very obvious. So, be cautious while dealing with them and never reveal any of your confidential information.

Address – 10 Corporate Drive, Burlington, MA,USA

Phone – +1 (213) 340 4936

Email – info@omegacryptos.com

Trading Platform and Asset Class

Omegacryptos.com offers a web based interface which is designed to run on most modern devices and the only requirement is an active internet connection. Since they don’t offer demo accounts, we can’t comment much about their interface. However, lack of MT4 and MT5 platforms will surely be a deal breaker for the vast majority of retail traders.

If you are an experienced trader who relies much on custom indicators and templates, then you need to find a 3rd part charting solution. This broker does not offer any kind of copy trading or social trading. Moreover, there is no form of auto trading supported by them which means you can’t use any of the expert advisers or delegate the decision making process to anyone.

Nowadays, many traders are inclined towards algorithmic trading or semi-automated trading as they can’t afford to spend the time in front of the screens. Lack of important features like the ones we mentioned above means it will not be appealing for the vast majority of traders.

As far as the asset class foes, they offer all the major forex pairs, but there isn’t anything about them which is extraordinary. If you belong to the rare breed of traders who make money on exotic pairs only, then you need to look elsewhere.

Account Types

There are 6 account types offered by this broker wherein for higher starting capital, you will get exclusive benefits. Some of the main benefits include access to higher leverage, 1 on 1 advanced trading class with institutional traders, advanced educational content and personalised trading signals. On top of all the benefits mentioned above, there is also a matching deposit bonus available.

However, make sure that you do read the entire terms and conditions before accepting the bonus. After all, there is no such thing as free lunch in this world and everything including this so-called free bonus has a catch. If you are an experienced trader, then you might be able to take advantage of extra money offered by tactfully executing certain strategies. On the other hand, if you are a newbie, it is better to not accept or else you won’t be able to withdraw the funds before completing certain conditions.

Deposit and Withdrawal

The base currency for the accounts can be denominated in the major global currencies such as AUD, GBP, USD, CAD and EUR. They haven’t mentioned the minimum amount required to make a deposit or a withdrawal. Moreover, even the time required by them to process the transactions are not mentioned. The payment methods supported by them are major debit and credit cards, Western Union, Money gram, Perfect Money and Bitcoin.

There may be some fees applicable on both the deposit and withdrawals, but due to the lack of information we can’t specify it yet. Though, there are plenty of methods to get started with them, it is strongly advised not to proceed with them, because of the sheer number of flaws we found about them.

Testimonials

We live in an online world wherein for the most part testimonials and customer feedback are used to judge an online service. Unfortunately, many times the owners of the services create fake profiles and up vote their own content to create false impressions. Due to the ever present conflict of interest, we strongly advise all our readers not to trust comments blindly and stay away from anything which may seem suspicious.

Coming back to this platform, there are a few positive testimonials on their website and they all appear to be cherry picked. However, keep in mind that, there is no way to verify the user profiles or their very existence. So, don’t be inclined towards trusting them and never make the mistake of giving them the benefit of the doubt, because if you do, then you are putting your money at risk. 

Omegacryptos.com Review Conclusion

Omegacryptos.com is an unregulated binary options broker which showcases all the red flags of a scam. The benefits of joining them are not at all worth the risks present and if you do deposit with them for any reason, then it would be a nightmare to recover the funds. So, say no to this platform when there are much better alternatives available and as a general rule, only trade using regulated brokers and exchanges.

Do you have any experience with Omegacryptos.com? Feel free to express your opinions by leaving a comment below.