Omega Crypto Review is OmegaCrypto Scam or Legit Broker

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OmegaCrypto review – Is omegacrypto.com scam or good forex broker?

OmegaCrypto is a broker focused on the crypto market, offering various CFD pairs based on crypto currencies like Bitcoin, Ethereum, Monero, Litecoin, Ethereum Classic, Ripple, Bitcoin Cash and NEM. All of that comes with seven account types, leverage as high as 1:400 and a web based trading platform.

Account type Min. deposit Max. leverage Spread s/ Payout
Trial Account $500 n/a
Basic Account $5000 1:400 n/a
Trader Account $10 000 1:400 n/a
Pro Plus Account $50 000 1:400 n/a
VIP Account $100 000 1:400 n/a
Millionaire Club $500 000 1:400 n/a
VIP Ultra Account $1 500 000 1:400 n/a

And OmegaCrypto also offers investment plans for up to two years especially designed for traders who want to buy a brand new car, house or a yacht. As attractive as all of this may sound beware that OmegaCrypto is not regulated and is blacklisted by the financial authorities in Belgium as a scam website. So before depositing any funds with them be sure to read the following paragraphs first.

OmegaCrypto Advantages:

Given the recent warning and all other issues about this broker, we are compelled to leave this section blank.

OmegaCrypto Disadvantages:

Blacklisted by FSMA, no license

As we already noted OmegaCapital is blacklisted by the Financial Services and Markets Authority (FSMA) in Belgium as a scam broker. You can see the warning here:

Otherwise OmegaCapital says to be owned by OmegaCrypto LTD , which is supposedly based in Singapore, but they also mention an office in London. And because all brokers operating in Singapore or the UK should be licensed and authorized by the local Monetary Authority of Singapore (MAS) or the Financial Conduct Authority (FCA) in the UK respectively, we diligently checked the registers of the above mentioned institutions, but were unable to find OmegaCapital there.

So it is quite obvious that OmegaCapital is yet another unregulated website, probably run by scammers. As usual our best advice in such cases is to trade only with regulated brokers, licensed and authorized by well known financial watchdogs like the FCA in the UK, the Australian Securities and Investment Commission or the Cyprus Securities and Exchanged Comission – currently the three most popular regulatory hubs in the forex industry.

And because with a FCA broker you will get the extra protection of a client compensation fund covering the first 85 000 GBP in your trading account, here you may also check our list of brokers regulated in the UK:

Market maker offering managed accounts

Basically this is a recipe for a scam. OmegaCrypto offers an “algo trading” service with investment plans like the Advanced Study plan, with which you are promised “to gain profits and take after 2 years a big amount from the portfolio”. “This is suitable”, the broker adds, “for persons that want to buy brand new car, house, Yacht … “ See for yourself:

The problem here is that like virtually all brokers, legit once including, OmegaCrypto acts as a market maker, which means they make money, whenever traders lose. So obviously, if you let market makers to manage your account, they will surely have the incentive to mismanage your money and loss them in their own pockets.

The general problem with all trading bonuses is the fact that they always come with additional withdraw conditions – usually a minimum trade volume requirement, which quite too often scammers use as an excuse to cancel your withdraw requests. As you can see below the case with OmegaCrypto is exactly this:

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On top of that OmegaCrypto reserves the right to change their bonus policy on their sole discretion so it is quite obvious why you may never get a chance to withdraw. Besides, trading bonuses are banned on regulated markets like the European Union altogether.

Only bitcoin payments accepted

Despite the various logos displayed on its homepage, when we proceeded with our registration it turned out OmegaCrypto accepts payments only with bitcoins.

Bear in mind that bitcoin payments are more or less anonymous and cannot be reversed , unlike VISA or MasterCard payments for example, where you can get your money back in case you realise you have been scammed. This can be done if you file for a charge back within 540 days of the transaction.

Also notable is the absence of Skrill. Recently the money transfer company adopted a new anti scam policy, according which it partners only with properly regulated forex brokers, and as we already noted OmegaCrypto does not have a license whatsoever. Here you may check our list of brokers, accepting payments with Skrill:

MetaTrader4 not supported

OmegaCrypto offers some unproven, web base platform, which lacks many standard features we are well used to with well known trading platforms like the MetaTrader4. Here you can take a look at OmegaCrypto’s platform:

For example we miss the option to run automated trading sessions, which on a MT4 is done with the help of in- build market indicators and trading robots. On top of that MT4 comes with a fine pack of advanced charting tools so here you may also check our list of brokers, offering MetaTrader4:

Conclusion:

OmegaCrypto is a unregulated website, blacklisted by the financial authorities in Belgium, which offers managed accounts while acting as a market maker. As we already discussed this is a classic example of a scam. Make sure you keep away from such unregulated websites, and trade only with properly licensed brokers, best authorized by a well known institution like the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Omega Crypto Review: is OmegaCrypto Scam or Legit Broker?

OmegaCrypto Review: Omega Crypto is a cryptocurrency broker that offers trading in a huge range of cryptocurrency assets. Are they Scam or Legit? Don’t open an account without reading this review. They have a registered address at Luna House, Mannerheimintie 12 B, 5.krs, FIN-00100 Helsinki and they are owned and operated by MB Capital LTD.

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OMEGA CRYPTO TRADING PLATFORM

This broker uses a Web trading platform.

DEPOSIT AND WITHDRAWAL METHODS

The available methods are Bank Wire transfer, MasterCard, Visa, Skrill. The minimum deposit is €500

Is OMEGACRYPTO LICENSED?

NO! OmegaCrypto broker is not licensed. Therefore, no regulatory body is acting as a watchdog overseeing that they comply with best practices in the financial market.

SUPPORT

This broker offers support to its traders, they could be reached through phone calls or emails, whichever you prefer.

CONCLUSION

Omega Crypto is an unregulated broker, this is a source of major concern. When trading forex and cryptocurrencies, we always recommend you use a regulated broker that is licensed to trade financial instruments

Hi. I want to invest in a company called Omega Crypto. Is this a scam or are the ledgit?

We don’t recommend Omega Crypto. Alternatively, you can check out this Australian regulated broker that is legit

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Omega Crypto Review: is OmegaCrypto Scam or Legit Broker?

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