OMC Markets is a Bulgarian forex broker that also offers CFDs over many financial assets like cryptocurrency, commodities, indexes, stocks and others. As many as six trading accounts are facilitated to all kind of trading styles. Max leverages and spreads are offered on these accounts that require high initial financing. We are giving this broker a very low rating as we have considered all the possible benefits and drawbacks of it. This OMC Markets review is all in one literature that is sufficient to provide sufficient information about it. This we request you to follow this unique and unbiased review thoroughly.
About OMC Markets:
Basic, Bronze, Silver, Gold, Platinum, and Black are the names of provided six distinct trading accounts. USD of 250, 10K, 25K, 50K, and 100k are required to access the first five mentioned accounts. Sadly, most premium account type Black’s minimum deposit is not mentioned. We believe the reason behind that the highest cost among them. On all the six different account leverages of 200:1 is provided. Spreads around 3.5 pips that can be said wider is also facilitated. There are many disadvantages of OMC Markets. But first, we will talk about all the possible advantages of OMC Markets. Various financial assets are offered to facilitate risk-free trading including many foreign exchange pairs, crypto coins, precious metals, agricultural goods, energy products, and other financial tools. Leverages provided of 200:1 can be applied to most aggressive trade style. The minimum deposit of USD 250 for the basic account is according to the current market and will not offend most of the traders. Several payment gateways including many electronic wallets, Bitcoin deposition, bank wire transfer, and cards are accepted by the broker under consideration.
However, the list of disadvantages is also long but we will focus on major ones. Major of them are unlicensed nature. Personal Found LTD a Bulgarian firm represents the broker brand, OMC Markets. However, this broker is neither regulated by the Financial Supervision Commission, nor by any other. The broker denies withdrawal processing who could not manage to reach the required minimum trading volume. The spreads of 3.5 pips are unusual. Additionally, MetaTrader is not present as a trading platform.
Is OMC Markets scam or legit?
The broker has many red flags including unregulated one. The trading condition is very absurd and MetaTrader is lacking. Therefore OMC Markets is a potential scam broker 2020.