Overview of OMC Markets Review
The forex broker OMC Markets has a wide variety of foreign exchange pairs that can be traded on six different trading accounts. Nevertheless, the broker also offers CFDs over other financial assets like ETFs, cryptos, bonds, commodities, indices, stock and precious metal. However, if you are willing to start trading using this broker’s services. You are at the right spot as this OMC Markets review is full of logical information why one should not trade with it. Therefore, you must follow us completely. Your precious time is appreciated.
About OMC Markets:
The offered different types of trading accounts are six in number and are namely Basic, Bronze, Silver, Gold, Platinum, and Black. They require $250, $10k, $25k, $50k, and $100k of initial investments respectively. The black account is uninformative as it does not share information about the minimum deposits, leverages and spreads provided.
The advantages of OMC Markets are many and are discussed here. Overall 52 Fx pairs are supported by OMC Markets. They include major minor and exotic ones. Also, spot metals, variable commodities and cryptocurrencies are offered over CFDs. Maximum leverages provided are up to 200:1 level and they are quite lucrative. They are termed as fortune maker. However, higher leverages are curs also as they can drain accounts easily. Therefore they are banned in critical foreign exchange markets. The broker claims to provide its basic services for just $250. However, other premium accounts need hefty initial investments starting from 10k USD. The OMC Markets accepts payments via many channels like VISA, Master Cards, American Express, and many electronic wallets. It also supports Bitcoin deposits. However, no bank wire transfer supported.
However, there are many demerits of OMC Markets are identified by us and they are discussed in this section. The broker doesn’t hold a valid license to operate as a forex broker. Also, it is unregulated. Personal Found LTD an organisation operational in Bulgaria is the owner of the trademark OMC Markets. The broker gives away many bonuses to its clients. However, the bonuses of OMC Markets should not be accepted. Because they require high trading volume requirements that are unacceptable and the volume is almost unachievable. The spreads of 3.5 pips on EURUSD fx pair are also unacceptable. As they raise the cost of trading many times.
Is OMC Markets scam or legit?
The broker OMC Markets is yet another forex scam broker. The initial investments, spreads and leverages provided are unacceptable. It is unregulated and fails to provide MT. All of this makes OMC Markets a potential scam broker 2020.