OnBuy Global is an e-commerce platform that claims to offer great customer service and products. Their website is designed very professionally and full of products in different categories. Behind this professionalism, there is blame on this company of being scam.
Company Overview
OnBuy Global is a relatively new business, having been founded in 2022. The company’s website is professionally designed but lacks transparency. They are providing their service online and have their physical office in the UK.Â
Team
There is no information about the team behind the company, and the only contact information is an email address. They should have provided their team details to keep the transparency.
Services or Products
OnBuy Global offers a variety of products, including women’s clothing and fashion, men’s clothing and fashion, computer and accessories, kids and toys, sports and outdoor, automobile and motorcycle, jewelry and watches, phone accessories, etc. The prices are high and their product selection process is too slow.
License and Regulations
License Status
According to their website, they don’t have any mother organization or regulatory organization. Being an ecommerce company they can run away any time. That is why not having a license or regulation is a big red flag.
Why Dealing With An Unlicensed Broker Is Risky?
There are many risks associated with dealing with an unlicensed broker. These risks include:
- The broker may not be able to return your funds if you lose money.
- The broker may not be transparent about its trading conditions.
- The broker may engage in fraudulent activities.
Legal Warning Against OnBuy Global
The Financial Conduct Authority (FCA) has issued a warning against OnBuy Global. The FCA warns that OnBuy Global is not a legitimate broker and that it is likely to be a scam.
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.
Client Feedback
There are a number of negative reviews about OnBuy Global online. These reviews complain about the high spreads, the lack of transparency, and the poor customer service.
Feedback About Their Trading
Some traders who have used OnBuy Global have complained that the spreads are too high and that the trading platform is difficult to use. Others have said that they have been unable to withdraw their funds from the broker.
Feedback About Their Customer Service
The customer service at OnBuy Global is reportedly poor. Traders have complained about long wait times, unhelpful staff, and a lack of communication.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by OnBuy Global or any other broker, you can contact Reviews Advice for help. Reviews Advice is a website that helps investors who have been scammed by forex and CFD brokers. Reviews Advice can help you to get your money back and to take legal action against the broker.
Final Thought
OnBuy Global is a scam broker that should be avoided. The company is not regulated by any financial regulator, and there are a number of negative reviews about it online. If you are thinking about trading with OnBuy Global, I urge you to reconsider. There are many legitimate brokers out there that offer better trading conditions and customer service.
