Is Ovax Global Legit or Scam?
Definitely a scam. Ovax Global exhibits numerous red flags, including:
- No regulatory license: Operating without a license is illegal and a major warning sign.
- Blacklisted by the FMA: New Zealand’s financial authority has blacklisted Ovax Global for fraudulent activities.
- Unrealistic promises: Guaranteeing high returns with minimal effort is a classic hallmark of Ponzi schemes.
- Negative user reviews: Numerous complaints exist regarding blocked accounts, missing funds, and denied withdrawals.
- Fake testimonials and company information: Ovax Global uses fabricated information to create an illusion of legitimacy.
Company Overview
Broker status: | Unregulated Investment Firm |
Regulated by: | No license |
Operating Status: | Active Online Investing Scam |
Known Websites: | |
Blacklisted as a Scam by: | FMA (New Zealand) |
Owner: | Ovax Global Limited |
Headquarters Country: | UK/ New Zealand/ Hong Kong |
Foundation Year: | 2023 |
Online Trading Platforms: | None |
Mobile Trading: | No |
Minimum Deposit: | $50 |
Deposit Bonus: | No |
CFD Trading Option: | No |
Crypto Asset Trading: | Yes – BTC, BCH, ETC, LTC |
Available Trading Instruments: | Crypto |
Maximum Leverage: | N/A |
Islamic Account: | Not available |
Free Demo Account: | Not available |
Accepts US clients: | Yes |
Our Experts’ Verdict: | Beware of alluring Ponzi schemes! Our legal consultants provide advice on withdrawal issues. |
Services or Products
Ovax Global claims to offer investment plans that generate passive income for users. However, these are not genuine investments but rather a Ponzi scheme. Users deposit funds, and some initial returns are paid out using money from new investors. The scheme collapses when there are no new investors left.
If you have lost money to companies like BoldPrime, or WiseWealth; please report it to us on our report a scam form
Trading Platform & Leverages
Ovax Global does not offer a trading platform or leverage options. Users cannot actively manage their investments, raising further concerns about the legitimacy of their claimed activities.
Spreads and Cost of Trading
Information about spreads and trading costs is not available as Ovax Global doesn’t function as a real broker.
License and Regulations
Ovax Global is not licensed or regulated by any recognized financial authority. This lack of oversight makes them highly risky and opens the door to fraudulent activities.
Legal Warning Against Ovax Global
The New Zealand Financial Markets Authority (FMA) has blacklisted Ovax Global for fraudulent investment activities. This is a significant warning and should deter anyone from considering their services.
Deposit and Withdrawal Methods
Ovax Global accepts deposits in various cryptocurrencies. Withdrawals are also facilitated in crypto, but user reports indicate significant difficulties in retrieving funds.
Ovax Global Pros and Cons
Pros | Cons |
None | Numerous Red Flags |
| Â | Unregulated and blacklisted |
| Â | Ponzi scheme |
| Â | Fake promises and testimonials |
| Â | Difficult or impossible withdrawals |
Why Dealing With An Unlicensed Broker Is Risky
Unlicensed brokers operate outside legal frameworks, leaving investors vulnerable to various risks:
- No protection: Without regulatory oversight, there are no guarantees of fair treatment, secure funds, or dispute resolution mechanisms.
- Fraudulent activities: Unlicensed brokers are more likely to engage in fraudulent practices like manipulating markets or stealing funds.
- Limited recourse: If you encounter problems, pursuing legal action against an unlicensed broker is challenging.
Client Feedback
Ovax Global has numerous negative user reviews highlighting issues such as:
- Blocked accounts
- Missing funds
- Denied withdrawal requests
These reviews further expose the fraudulent nature of Ovax Global’s operations.
How Can “Reviewsadvice” Help You If You Get Scammed?
While recovering funds from scams can be complex, “Reviewsadvice” offers support through:
- Expert consultation: They can help assess your situation and advise on potential recovery options.
- Legal assistance: In some cases, legal action might be necessary, and “Reviewsadvice” can connect you with qualified professionals.
      You Can report to us today by the below form.Â
File A Complaint Against Scammers
Final Thought
Ovax Global is a clear scam masquerading as an investment platform. The complete lack of regulation, unrealistic promises, and negative user experiences paint a clear picture. Avoid Ovax Global at all costs to protect your financial well-being. If you have already been affected by their scam, seek professional help and legal advice to explore potential recovery options.
