Ordinals Finance (OFI) is a cryptocurrency platform that claims to offer lending, borrowing, and staking services. However, the platform is unlicensed and unregulated, making it a risky investment.
Company Overview
The OFI website claims that the platform is backed by a team of experienced professionals with a proven track record in the cryptocurrency industry. However, there is no information available about the team members, their qualifications, or their experience.
The OFI website also claims that the platform is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. However, the FCA has not authorized OFI to operate in the UK.
Services or Products
The OFI platform offers a lending and borrowing service for inscriptions. Inscriptions are a type of digital collectible that is stored on the blockchain.
OFI also offers a staking service, which allows users to earn rewards for holding OFI tokens.
License and Regulations
Ordinals Finance is not licensed or regulated by any financial authority. This means that there is no government oversight of the platform, and investors have no recourse if they lose money.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. Here are a few:
- Unlicensed brokers are not subject to the same regulations as regulated brokers. This means that they may be more likely to engage in fraudulent or unethical practices.
- Unlicensed brokers may not have the financial resources to cover their losses if they go bankrupt.
- Investors who lose money with an unlicensed broker may have difficulty getting their money back.
Legal Warning Against Ordinals Finance (OFI)
The Financial Conduct Authority (FCA), the UK’s financial regulator, has warned investors about Ordinals Finance. The FCA has stated that Ordinals Finance is not authorized to conduct investment business in the UK.
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 complaints about Ordinals Finance online. Some users have reported that they have been unable to withdraw their funds from the platform. Others have reported that the platform’s customer service is poor.
Feedback About Their Trading
Users who have traded with Ordinals Finance have reported mixed results. Some users have said that they have been able to make profits, while others have said that they have lost money.
Feedback About Their Customer Service
Customer service at Ordinals Finance is reported to be poor. Users have reported long wait times and unhelpful responses from customer service representatives.
How Can “Reviews Advice” Help You If You Get Scammed?
Reviews Advice is a website that helps investors who have been scammed by unlicensed brokers. The website provides information about how to get your money back, as well as tips for avoiding scams in the future.
You can have a free consultation call from our experts. They will evaluate your case and will schedule a call with you. During the call, you will have professional advice, access to premium educational resources, and some recovery service recommendations that will help you recover the lost funds.
Final Thought
Ordinals Finance is a risky investment. The platform is unlicensed and unregulated, and there are a number of complaints about it online. If you are considering investing with Ordinals Finance, we advise you to do your research and be aware of the risks involved.
If you think you have been scammed by Ordinals Finance or any other cryptocurrency platform, you can contact Reviews Advice for help.
