In the world of finance and investment, it is common to come across several fraudsters who would do whatever it takes to scam unsuspecting investors. One such company that has been making headlines for all the wrong reasons lately is Orbeon Protocol – an unlicensed broker with some of the worst reviews out there. In this Orbeon Protocol scam broker review, we will provide you with everything you need to know about this company.
Company Overview
| Broker Name | Orbeon Protocol |
| Website | https://orbeonprotocol.com/ |
| Location | Unknown |
| Regulated | Not Regulated |
| Warning | Multiple |
Team
They only provide the CEO and COO details. But, did not provide other team members’ details. Why they did not provide those?
Services and Products
As mentioned earlier, Orbeon Protocol primarily deals in forex and cryptocurrency trading. They offer several trading instruments, including popular currency pairs like USD/EUR and USD/JPY, as well as cryptocurrencies such as Bitcoin and Ethereum. Customers can trade these markets through the company’s proprietary trading platform.
Trading Platform
Orbeon Protocol’s trading platform offers many of the features you would expect from a typical trading platform, including real-time quotes, risk management tools, and technical analysis indicators.
However, the platform appears to be unsophisticated compared to other brokerage platforms. The lack of information on the company’s website on the technologies powering the platform is also troubling.
License and Regulation
License Status
They don’t have any license or authorization for their platform. They claim they are verified and audited, but no proof for this claim. It is clear that they don’t have any verification or authorization.
Regulation Status
The absence of any regulation for the Orbeon Protocol is a massive warning sign that the company does not show any commitment to protecting the interests of its clients. They mentioned that theta re being audited by “Solid Proof”, but they did not provide the audit result or any other regulations.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers are a huge risk to investors as they operate more or less above the law with no oversight from reputable regulators. Such brokers can engage in all kinds of fraudulent activities with no repercussions. They could partake in practices such as price manipulation, insider trading, and unauthorized access to client funds, among others. These activities increase the chances of clients losing their money in some instances.
Legal Warnings Against Orbeon Protocol:
Several countries have issued warnings specifically about Orbeon Protocol. The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) in Canada issued an investor alert against the company in 2019. The FCAA noted that Orbeon Protocol was not licensed to offer trading services in the region, and investors should be cautious of dealing with the firm.
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 About Orbeon Protocol:
About Their Trading
Client feedback suggests Orbeon Protocol does not provide the best trading experience. The platform’s lack of advanced analysis tools and the absence of any trade-specific educational materials to help clients make informed decisions put clients at a significant disadvantage.
About Their Customer Service
Orbeon Protocol’s customer support line is almost non-existent. Reviewers have reported struggling to reach anyone on the customer care line, indicating a lack of commitment to customer service.
How Can Reviewsadvice Help You If You Get Scammed?
At Reviewsadvice, we believe in empowering traders to make informed decisions when it comes to choosing brokerages. If you have been scammed and need assistance, we can help point you in the right direction. We will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
Final Thought
With an unregulated broker such as Orbeon Protocol, investors are taking a significant risk with their money. The absence of regulatory oversight means that such brokers can operate with impunity and engage in fraudulent activities without consequences. Do yourself a favor and avoid trading with unlicensed brokers. Look for licensed and regulated ones, as they are subject to strict oversight and regulations that protect your interests as a client.
