Oriontero review – 5 things you should know about oriontero.com

Oriontero review – 5 things you should know about oriontero.com

Rating: 1

Beware! Oriontero is an offshore broker! Your investment may be at risk.

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Oriontero compares itself with the rest of the brokers and says that while its competitors are still sticking to the traditional trading methods, it has vowed to provide traders with the technological platforms, tools, and software that others haven’t offered them yet. Bold claims, but the truth is that Oriontero is yet another fishy brokerage with a commonplace Webtrader that’s everything else but extraordinary. In fact, Oriontero is a scam, and you’ll see why in the following review.

Oriontero REGULATION AND SAFETY OF FUNDS

Oriontero is some underground brokerage that doesn’t reveal its address and contact numbers, let alone license or incorporation numbers. And just as expected, our research found absolutely nothing about such an entity except for a bunch of sugary reviews that are almost identical to one another. So, we can safely conclude that your funds will be in danger if you deposit with Oriontero because it’s anonymous and unregulated.

However, on the broker’s website, we saw it claiming that it’s in the middle of a licensing process. Well, legit brokers are allowed to offer Forex services only after the mandatory license is secured. We wished that Oriontero was having a joke, but it wasn’t. That’s a scam!

Oriontero knowingly misleads the public because regulation is the most critical aspect when it comes to Forex trading. Dealing with unregulated brokers is generally a horrible idea as these entities are anonymous and unaccountable. To put it into perspective, your deposit with Oriontero will be handled by people with concealed identities who bear no responsibility for their actions. Moreover, scammers prefer to operate with offshore shell companies because clients’ money literally disappears once being sent. That’s why we recommend licensed brokers only.

For example, regulators like CySEC (Cyprus) and FCA (Britain) require account segregation, ensuring that clients won’t lose their funds if a broker gets insolvent as deposits are not commingled with the broker’s money. The segregated accounts improve transparency, speed withdrawals up, make chargebacks easier and generally help prevent fraud. On top of all that, European companies are covered by deposit insurance funds laid down to reimburse clients in case of unforeseen events- CySEC brokers’ clients can get up to €20 000 in compensation, while the British guarantees are even up to £85 000. On the other end, Oriontero simply wants to steal your money, and it can do it as there is no reliable authority to keep an eye on it.

Oriontero TRADING SOFTWARE

Oriontero purports that its platform is unbeatable and not offered by anyone else, but in truth, the Webtrader we came across is quite common actually. Too many fishy brokers, some of which confirmed to be fraudulent, provide precisely the same unsophisticated software that’s nowhere near MetaTrader 4 and MetaTrader 5. We compare the Webtrader with the MTs as both are the best ones- MT4 leads the market in volumes traded, while the largest number of brokers offers MT5. Anyway, Oriontero has poor trading software, so it’s worth being avoided merely because of that.

In fact, Oriontero claims that MT4 and MT5 are available, but that’s not true- more evidence of a scam as the brokerage intentionally take advantage of the platforms’ solid reputation.

Anyway, the trading costs revealed by the Webtrader are seemingly good- 0.6 pips spread for EUR/USD, which is pretty much in line with the industry standards. Namely, clients pay $6 per lot compared to $10 or less if you trade with legit brokers. But as we already know, Oriontero is a scam, so the favourable trading conditions are irrelevant in this case.

As to leverage, it’s 1:200 by default and can’t be changed- a red flag as clients are put into a risky trading environment. 1:200 is dangerous, and it’s no longer allowed in too many countries worldwide- the EU, UK, and Australia imposed a cap of 1:30 while the US of 1:50.

See the Webtrader below:

Oriontero DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit is $10 000 allegedly via Credit/Debit cards and Wire Transfers, but we can’t prove these methods are actually available. Anyway, $10 000 is just too much, regardless of anything else whatsoever.

The information about withdrawals and fees is too scarce, and we only know that the broker takes 5 days to process requests. In any case, it’s worthless discussing withdrawals as the broker is just another scam we reviewed.

Now, see the account types available:

HOW DOES THE SCAM WORK

We exposed Oriontero, so we’ll show you what scammers usually do to snavel as much as possible from their victims.

When fraudsters get hold of your contact numbers, you’ll be approached immediately, promised the moon and the stars. Also, to gain trust, those criminals usually pretend to work for governments, financial authorities, banks, reputable companies etc. Scammers will be confident in what they are saying, and if you don’t recognise the warning signs, you may end up depositing. However, the fraudulent process actually begins after you send the scammers money. Once they have the desired deposit, the cons will distort prices and forge fake reports to make you believe you are on the winning side, manipulating you to start thinking big and consider more deposits.

Then, the fraudsters will gradually ask you to increase the size of the investment and invent stories to make you deposits again and again. Sooner or later, though, you’ll get determined to withdraw some money, and then scammers will ask you to deposit again because, according to their words, there are taxes and fees that you should pay. At this point, you’ll probably realise something wrong is happening, and when the scam becomes too apparent, the fraudsters will simply cut the communication and disappear. Later, the whole website will be brought down, replaced with a new one so that the scammers can carry on with their criminal activities.

WHAT TO DO WHEN SCAMMED

It would be best if you first call your bank to inform it and deactivate your card to avoid getting exposed to additional risks, as the scammers may as well have obtained your details.

Then, call the police, inform the financial authorities, file complaints and don’t forget to spread the word online so that other people can find out about the fraudulent scheme. Still, it’s crucial not to rush trying to reclaim your funds as numerous scams are disguised as chargeback agencies set up to double-scam victims.

Finally, we know it’s an awful experience to get scammed, but please share your story to help protect others!

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