Oro Markets review – 5 things you should know about oro-markets.com

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

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Oro Markets presents itself as a global broker that can help us achieve our investment goals. But a closer inspection of this website does not provide us with any evidence that this is true. Oro Markets is not the established and award-winning financial services provider it claims to be. In this review, we will show you how to spot such scams and how to choose a trustworthy investment firm.

Oro Markets Regulation and safety of funds

The most important information about a financial services provider is its regulatory status. Licensed brokers provide detailed information about which company runs them, where it is based, which jurisdictions it is authorised in and which regulatory bodies oversee its activities.

Oro Markets claims to be based in the offshore zone Saint Vincent and the Grenadines (SVG) and has representation in New York.

The latter cannot be true because offshore brokers are not allowed to offer their services in the United States. Fact-checking shows that the claims about registration in the SVG are also untrue. We have found no evidence that the listed owner company – ECB7 Capital Ltd – actually exists.

Even if the owners of this website are based in the SVG, this provides absolutely no guarantees for customers’ money. . While this country has a financial regulator, unlike other offshore areas, it does not regulate the activities of forex and CFD brokers. Тhe Financial Services Authority (FSA) of St. Vincent and the Grenadines has repeatedly issued warnings on this issue.

Due to the large number of scammers taking advantage of this lack of regulatory oversight, starting in 2023, the financial authorities in the SVG began requiring international brokerage firms registered in the country to provide proof that they hold the necessary licences in the jurisdictions in which they provide financial services.

Spain’s financial regulator, the CMNV, confirms our suspicions about Oro Markets and warns investors to avoid it.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Oro Markets Trading software

Oro Markets promises one of the most popular trading platforms, MetaTrader 4 (MT4). But after registering an account, we get access to a different, web-based platform.

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Oro Markets Trading instruments

Oro Markets advertises that it offers trading in cryptocurrencies, forex, stocks, indices, metals and other commodities. But nowhere is detailed information provided on the instruments traded.

Oro Markets Spreads and cost of trading

The descriptions of the account types offered by Oro Markets do not include information about the price paid by the customer. In the trading platform we see a very low spread of 0.2 pips. Such a raw spread means that the broker must charge some commission. But the Oro Markets does not specify the amount of this commission.

Oro Markets Maximum leverage

This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Oro Markets Deposit and withdrawal methods

On the homepage of the website we see the logos of many popular payment methods. But in the deposit menu itself, the choice is only between different cryptocurrencies.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Oro Markets Minimum deposit

Oro Markets does not specify a minimum deposit. But what is important to know is that the leading brands in the industry offer novice investors Micro Accounts with a very low entry bar. There’s no good reason to take chances with fishy websites like Oro Markets.

Oro Markets Withdrawal requirements

Oro Markets allegedly offered bonuses, a practice prohibited by most financial regulators.  Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms. Oro Markets does not provide clear information about the conditions attached to bonuses.