In this Oxtrades review, we’ll explore if Oxtrades is a reliable source of investment opportunities or if it’s just another shady website meant to defraud investors.
Website: http://oxtrades.com/
Website Availability: Yes
Official Address: St. Lucia
Regulation: Unregulated
Warned By: Autorité des marchés financiers (France) and Manitoba Securities Commission (Manitoba)
Domain Status
- Domain Name: OXTRADES.COM
- Registry Domain ID: 2849068986_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.hostinger.com
- Registrar URL: http://www.hostinger.com
- Updated Date: 2024-02-27T13:00:38Z
- Creation Date: 2024-01-24T11:46:59Z
- Registry Expiry Date: 2025-01-24T11:46:59Z
Company Background
According to its website, Oxtrades.com is a trading platform operated by the Saint Lucian company Voya Group (IBC) LTD. Oxtrades states that the Financial Services Regulatory Authority (FSRA) has granted it a license. But it’s essential to highlight that the FSRA has made it clear that there are no regulations governing forex trading in Saint Lucia.
Regulatory Concerns
Our Oxtrades review includes an in-depth study of its regulatory position. In the financial sector, regulation is crucial because it ensures that companies follow certain guidelines and procedures that safeguard investors. Since the FSRA has made it clear that forex trading is not regulated in Saint Lucia, Oxtrades’ claim to be licensed by the organization is deceptive in this case. The legitimacy of Oxtrades is compromised by this absence of regulation.
The warnings that have been given by different regulatory bodies are concerning. The possible risks linked with Oxtrades have been flagged by the Autorité des marchés financiers (AMF) in a warning against the platform. The Manitoba Securities Commission (MSC) has also similarly cautioned against oxtrades.com. These alerts raise a serious red signal for prospective investors since they imply that Oxtrades could not have the required authorization to provide financial services.
Operational Transparency
As per Oxtrades’ assertions, it functions under the Voya Group (IBC) LTD; but, in the absence of appropriate regulation, it becomes challenging to authenticate these claims. Concerns over its operations are made worse by the lack of openness surrounding its regulatory status.
Consumer Feedback and Experiences
Testimonials and reviews posted by users might provide insight into the reliability and quality of the services provided by the website. Regarding Oxtrades, a plethora of bad reviews and complaints have been made by individuals to raise issues. Such comments support the regulatory agencies’ cautionary statements and are in line with them.
Oxtrades Review Conclusion
This Oxtrades review identifies several important problems. Its legality is called into question because Oxtrades operates in an area where forex trading is unregulated, even though it claims to have an FSRA license. The AMF and MSC alerts emphasize even more how the platform is not authorized to provide financial services. Furthermore, the platform’s transparency and user reviews don’t paint a comforting picture of its dependability.
Anyone thinking about trading or investing with Oxtrades must proceed with utmost caution. Given the absence of appropriate oversight, cautions from respectable financial regulators, and unfavorable customer experiences, Oxtrades might not be a reliable platform.
Have You Been Scammed by Oxtrades?
If you can’t recover your money from Oxtrades, gather evidence, initiate a chargeback, and inform your bank of their suspicious activities. For wire transfers, file complaints with authorities to escalate the issue. If unsuccessful, submit a fraud report to the company and seek assistance from Fraud Complaints.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Romance Tricks, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
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Note: The Oxtrades review is influenced by existing reviews online. We are not responsible for any legal actions taken by any entity favoring Oxtrades investment.