Oranco Group Ltd is a company that claims to offer online trading services to investors around the world. However, there have been many concerns raised about the legitimacy of the broker. In this article, we will provide an in-depth analysis of Oranco Group Ltd, and review some of the red flags that could indicate a potential scam.
Company Overview
| Broker Name | Oranco Group Ltd. |
| Website | https://oacllc.com/ |
| Location | Hong Kong |
| Warnings | Multiple |
| Traders’ reviews | Negative |
Team
As this is a group of companies, they should have an executive committee, board of directors, etc. But, We did not find any of this information. They did not publish a single name of their team members. It is a red sign that this broker is playing a dirty scam game.
Services and Products
Oranco Grou Ltd. claims they are providing forex trading and crypto trading services for their traders. But, there were no details about their products or their trading benefits or any details. You need to signup to know the details about their trading policy.
Trading Platform
There was no specific information about their trading platform. It is not clear whether they are using MT4 or MT5 trading platform. But, from several reviews, we found they insist people invest o a dating app, and then try to steal their money.
License and Regulations
Before investing in any finance platform, the most important thing that needs to check is their licenses and regulations. With proper licensing and regulation, the broker is not safe for your investment.
License Status
This broker stated that they are registered and located in Hong Kong. You already know that the HKMA is the central financial regulator in Hong Kong. When we searched on the HKMA’s website, we did not find any confirmation about their license information. Also, their website did not have any information about their license. It is clear that they are licensed under HKMA or any other mother organizations.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Regulation Status
Brokers like Oranco Group Ltd. needs regulation confirmation from significant regulatory bodies. We already showed that this broker is not licensed and regulated by its own country’s regulatory body. Then we searched for prominent regulatory bodies such as FCA, FNMA, FINMA, CONSOB, etc. We found nothing about the regulation. But, we noticed several traders posted about changes to their business names. We will show this in a later section.
Why Dealing With Unlicensed Brokers Is Risky?
Unlicensed brokers cannot provide you with proper financial security for your investment. They are not bound to report to any regulatory organization about their trading activities and transparency. This lack of regulation makes them prone to perform any kind of scam.
Legal Warnings Against Oranco Group Ltd.
Orlando Group Ltd. claimed regulation from NFA (USA) with the license number 0544702. But, their claim of this regulation is false and NFA declared a warning against this broker for this false claim.
Client Feedback About Oranco Group Ltd.
Oranco’s previous customers are not happy at all about this broker. They complained about its trading activities and customer service too.
About Trading
Previous clients mentioned that they faced several issues regarding their trading platform. There were high withdrawal fees, unexpected trading fees, a sudden account ban (this happened when they tried to withdraw their money), and several other issues.
About Customer Service
Another main issue about this broker is their bad customer service section. There was no contact information on their website and after opening an account, their account manager contacted them to do the trading. But, they are not that much responsive.
How Can Reviewsadvice Help You If You Get Scammed?
If you get scammed by Oranco Group Ltd., you should submit your report to us. We will provide you with a free consultation and service recommendation to help you in recovering the lost fund.
Final Thought
In this article, we showed you the red flags of this broker. We recommend avoiding this broker at any cost and always choosing a licensed broker for your investment. You can check our scammer blacklists to cross-check for your next broker choice.
