Ocean Markets Review – Avoiding Suspicious Broker Scams
Ocean Markets portrays itself as a European broker using innovative trading tech and offering 1:200 leverage and first deposit bonuses. However, caution is needed as it’s an offshore broker, indicative of potential risks. Many similar companies share concerns about regulation, unfavorable terms, and unattractive trading conditions. Ocean Markets is no different; these issues are explored in our comprehensive Ocean Markets review.
Website – http://oceanmarkets.org/
Website Availability – No
Headquarters Country- Trust Company Complex Ajeltake Road Ajeltake Island, Majuro Marshall Islands MH 96960
Owned By – Valep Ltd
Regulation Status – Unregulated
Blacklisted by – Financial Conduct Authority (United Kingdom)
About Ocean Markets
Ocean Markets, despite its claims as a rising star in global trading, raises concerns. While it promises optimal investment conditions and real-time insights, the reality is far from ideal. The platform’s extensive range of assets includes commodities, CFDs, indices, and Forex trading, but it’s marred by unfavorable terms and unsuitable trading conditions. Even though they offer around-the-clock customer support, their regulatory status remains questionable. This Ocean Markets review aims to shed light on these concerning aspects.
Unregulated Offshore Brokerage
Ocean Markets operates as an offshore broker without the necessary licenses for online trading services. Their website’s footer indicates that Ocean Markets is owned and operated by Valep Ltd., a company registered in the Marshall Islands, notorious for being a haven for unscrupulous brokers. The appeal of these islands lies in their lax regulations, enabling the establishment of forex brokerages without a physical presence or stringent oversight. As is often the case with offshore jurisdictions like the Marshall Islands, forex companies operate without genuine regulatory scrutiny, leaving investors potentially exposed to risks in the absence of robust oversight.
When thinking about this offshore broker, prospective investors should check Ocean Markets reviews to weigh the risks and make an informed choice.
Victim of Ocean Markets scam? Submit a Quick Complaint Here!
High Account Minimums and Elevated Spreads Raise Concerns
Ocean Markets presents a range of six distinct account types, each requiring a minimum deposit starting from $500. While the diversity of options may appear attractive, this deposit threshold is considerably higher than the industry standard, where regulated brokers typically accept initial deposits ranging from $10 to $100, with rare instances reaching up to $250.
Account Spreads
One aspect that requires careful consideration is the spreads offered by OceanMarkets. The spreads commence at 2.5 pips for their Starter account, surpassing the industry norm of 1.5 pips. Such elevated spreads can significantly impact the profitability of traders, potentially making it an unattractive choice for those seeking competitive trading conditions.
Excessive Leverage
Another noteworthy feature is Ocean Markets leverage offering, set at 1:200. This level of leverage may raise concerns, especially for novice traders. It’s essential to be cautious when dealing with such high leverage, particularly when compared to the permitted 1:30 leverage in the UK. While high leverage can potentially yield rapid profits, it also exposes traders to substantial risks, possibly resulting in significant financial losses.
Unusual Trading Instruments
OceanMarkets stands out by offering vaccine company stocks as tradable instruments. The legitimacy of such offerings remains uncertain and warrants further scrutiny. Before engaging in any trading involving non-traditional assets, thorough research, and due diligence are advisable to ensure the investment’s authenticity and viability.
Negative Ocean Markets Reviews
Reviews from customers reveal persistent frustrations, as some Ocean Markets reviews reflect the problems while accessing their funds despite waiting for months after initiating withdrawal requests. Furthermore, allegations of price manipulation further tarnish the company’s reputation.
Ocean Markets Review – Seeking Justice for Ocean Markets Scam Victims
For those who have fallen victim to the Ocean Markets scam, hope remains. Fraud Recovery Experts, a trusted online recovery platform, offers assistance in recovering lost funds from scams like Ocean Markets. We provide free consultation to help victims on their path to financial recovery.
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Note: The Ocean Markets review written above is influenced by the other Ocean Markets reviews already present on the web. We are not liable for any legal action from the OceanMarkets company.