OPTrust Broker Review
OPTrust promises to be a smart investing tool that can help clients make money. However, a quick peek at their website demonstrates otherwise. Read our OPTrust review to learn everything there is to know about the brokerage.
Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: FINMA (Swiss regulator)
Owned by: N/A
Headquarters Country: Switzerland
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: $1,000
Cryptocurrencies: Available – BTC, ETH, DASH – total 6
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:500
Free Demo Account: No
Accepts US clients: No
About OPTrust Regulation and License
OP Trust has not identified the owner or any other important information behind the scenes. All we see is a Swiss address, hinting that the firm is situated there. Instead of the FINMA regulation number, we discovered two offshore licenses from Belize and Mauritius. We cannot tell which regulatory jurisdiction OPTrust broker belongs to since there is no formal ownership. Be wary of possible scam!
OPTrust Warnings From Financial Regulators
Given that the broker was reported Swiss-based, it’s no surprise that FINMA, Switzerland’s regulatory authority, issued the warning against OPTrust. They stated that it is an uncontrolled jurisdiction and that everyone participating should be aware that they are dealing with a fraudulent trading organization.
Fund Withdrawal Issues With OPTrust
The broker feels comfortable enough to scam clients since he is not registered anywhere, has no formal restrictions, and cannot be discovered. Consider sending your money to someone whose name or address you don’t know. Finding them afterwards would be a pain, wouldn’t it? The same is true for unregulated scam brokers.
Clients, especially Canadians, are complaining about being unable to withdraw their monies because the broker refuses to fulfill requests, according to OPTrust evaluations. And if they persist too long, their accounts will be suspended.
False Claims About the Trading License
As previously stated, the broker claims to be governed by two offshore regulations: IFSC Belize and FSC Mauritius. We discovered nothing regarding the OPTrust broker after searching both of these registrations. Because the firm did not disclose the official owner, looking for them by their full name was impossible.
However, none of these regulators are aware of op-trust.com or the OPTrust trading name.
Traders About OPTrust Scam
Those who raised the alarm about this fraudulent organization were traders in the first place. Everyone who has ever worked with OPTrust has only one piece of advice: stay away. None of them were able to recover their funds, and to make matters worse, they were unable to access their trading accounts.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
