Oxmek Trading is a forex broker that claims to offer a variety of trading services, including market insights, educational resources, and a trading platform. However, there are a number of red flags that suggest that Oxmek Trading is a scam.
Company Overview
Oxmek Trading is a relatively new broker, having been founded in 2022. The company is headquartered in St. Vincent and the Grenadines, which is a known offshore tax haven. Oxmek Trading does not have a license from any major financial regulator, such as the Financial Conduct Authority (FCA) or the Commodity Futures Trading Commission (CFTC).
Team
The Oxmek Trading website does not list any of the company’s management team members. This is a red flag, as legitimate brokers should be transparent about who is running the company.
Services or Products
Oxmek Trading offers a variety of trading services, including market insights, educational resources, and a trading platform. However, the company’s website does not provide any details about these services. This is another red flag, as legitimate brokers should be upfront about what they offer.
License and Regulations
License Status
Oxmek Trading has no license or authorization from any mother organization or regulatory organization. They did not mention their license status to any customer query either.
Regulation Status
Oxmek Trading is not regulated by any major financial regulator. We tried to find their regulation information from major regulatory databases, but still there were not result found.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any oversight, which means that they are more likely to engage in fraudulent activity. Second, unlicensed brokers are not required to keep client funds in segregated accounts, which means that there is a risk that your funds could be lost if the broker goes bankrupt.
Legal Warning Against Oxmek Trading
The Financial Conduct Authority (FCA) has issued a warning against Oxmek Trading, stating that the company is not authorized to provide financial services in the UK. The FCA warning is a serious red flag, and it should be a major deterrent to anyone considering doing business with Oxmek Trading.
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 Oxmek Trading online. These reviews allege that the company is a scam and that it has stolen customer funds. One reviewer claims that they lost $10,000 after depositing money with Oxmek Trading. Another reviewer claims that they were unable to withdraw their funds from the company.
Feedback About Their Trading
The few reviews that are available about Oxmek Trading’s trading platform are negative. One reviewer complains that the platform is slow and unreliable. Another reviewer complains that the spreads are too high.
Feedback About Their Customer Service
The customer service at Oxmek Trading is reportedly poor. One reviewer complained that they were unable to get in touch with a customer service representative after their account was hacked. Another reviewer complains that they were given a runaround by customer service when they tried to withdraw their funds.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Oxmek Trading or another forex broker, there are a few things you can do. You can submit your complaint to several regulatory organizations and then you can contact us for a quick solution.
Based on your report, we will evaluate your case and will provide you with a quick consultation call (obviously free), and then we will discuss the options to recover the lost funds. Also, our exerts will help you with providing some recovery service recommendations.
Final Thought
Oxmek Trading is a scam broker that should be avoided. The company is not licensed by any major financial regulator and there are a number of negative reviews about it online. If you are considering doing business with Oxmek Trading, we advise you to reconsider. There are many legitimate forex brokers out there that offer better services and are less likely to scam you.
