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OGFX Forex broker specializes in providing foreign exchange trading services, the company's official website http://portal.ogmfx...., the company's legitimate regulatory information AustraliaASICInvestment Advisory License to enhance the security of the company's address

OGFX Forex Broker

Basic Information

Registered Region

Australia

Operating Period

Company Name

OCEAN GLOBAL MARKETS LTD

Abbreviation

OGFX

Company employee

Customer Service Email Address

service@ogfx.com.au

Contact Number

+611300459688

Company Website

http://www.ogfx.com.au/

800188484

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

Company profile

Note: OGFX's official website https://www.ogfx.com.au/ is currently inaccessible normally.OGFXReview SummaryFounded2008Registered Country/RegionAustraliaRegulationASIC (Suspicious Clone)Market InstrumentsForex, etc.Demo Account✅LeverageUp to 1:400EUR/USD SpreadFloating around 0.2 pipsTrading PlatformMT4Min Deposit$1,000Customer SupportTel: +61 1300 459 688Email: service@ogfx.com.auQQ: 00188484 OGFX is a financial company registered in Australia. It offers two types of accounts, and the leverage can be up to 1:400. The minimum deposit is relatively high, which is 1,000 dollars. What's more, its regulatory license is suspiciously cloned.Pros and ConsPros Cons MT4 providedInaccessible official websiteDemo accounts availableSuspicious clone ASIC licenseTight EUR/USD spreadHigh minimum depositIs OGFX Legit? Investors should exercise caution when dealing with KOSEI Securities as there are red flags regarding the legitimacy of their regulatory claims. The Australian Securities and Investments Commission (ASIC) license number provided by the broker (License Type: Investment Advisory License license number: 332890) is suspected to be a clone. This poses a significant risk to investors who may unknowingly trust the legitimacy of the broker based on false regulatory credentials.Regulatory AuthorityAustralia Securities & Investment Commission (ASIC)Regulatory Status Suspicious CloneRegulated by AustraliaLicensed Institution Neptune Securities LTDLicensed TypeInvestment Advisory LicenseLicensed Number332890 Furthermore, the inaccessibility of their official website adds another layer of concern regarding the reliability and transparency of their trading platform. A reputable and trustworthy broker would typically have a user-friendly website that is easily accessible to clients for account management and trading purposes. Besides, this OGFX is a clone broker posing as a legit one to misunderstand people, and it has nothing to do with another Ocean Global Markets (short for OGFX). Please be aware of the potential scam. These warning signs should not be taken lightly, as they suggest a higher level of risk associated with investing in OGFX.WikiFX Field Survey WikiFX field survey team paid a visit to this OGFX‘s official address at Suite 706, 1-5 Railway Street, CHATSWOOD, NSW 2067. However, the team confirmed that the broker OGFX’s real address is not consistent with its regulatory address.Account Type OGFX offers 2 types of accounts: Standard, and Pro. Free demo accounts are also available.Account TypeMin DepositStandard$1,000Pro$50,000Leverage For both accounts, the leverage can be up to 1:400. High leverage may bring potential risks, so careful considerations are needed.OGFX Fees The EUR/USD spread is floating around 0.2 pips. The commission fee is $18, and swap fees are not needed.Trading Platform OGFX provides its clients with access to the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features. One of the standout features of MT4 is its support for automated trading through Expert Advisors (EAs). This feature enables traders to automate their trading strategies and execute trades based on predefined rules and parameters. Moreover, MT4 provides real-time quotes, news updates, and customizable alerts.Trading PlatformSupported Available Devices Suitable for MT4✔Web, desktop, mobileBeginnersMT5❌/Experienced traders

OGFX broker review

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How to login to OGFX?

ogfx Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a ogfx Account Registering for an ogfx account is the first step towards engaging in trading activities on the platform. Below are the detailed steps to successfully

OGFX Forex Broker - Complete Information Guide

1. Broker Overview

　　OGFX, officially known as Ocean Global Markets Ltd, was established in 2009 and is headquartered in Sydney, Australia. This broker operates as a private entity, focusing primarily on providing online trading services. Initially, OGFX catered to institutional clients, but since 2017, it has expanded its offerings to include retail customers as well. The company has developed a reputation for its Straight Through Processing (STP) execution model, which allows for direct order placements in international markets, ensuring clients have access to competitive pricing from global liquidity providers.

　　The broker's primary markets include forex, commodities, metals, and global indices, appealing to a diverse clientele ranging from novice traders to seasoned professionals. Over the years, OGFX has made significant strides in its development, including the introduction of various educational resources and trading tools designed to enhance the trading experience and skills of its users. Additionally, OGFX has partnered with the FX Plus Trading Academy, offering professional education and training courses aimed at empowering traders worldwide.

　　As an OGFX broker, the firm has established itself within the financial trading landscape, providing a reliable platform for its clients. The company's business model encompasses retail forex trading and institutional services, making it a versatile choice for various trading needs.

2. Regulatory and Compliance Information

　　OGFX operates under the supervision of the Australian Securities and Investments Commission (ASIC), which is known for its stringent regulatory standards. The broker holds an investment advisory license under registration number AFSL 332 890. However, it's important to note that there are concerns regarding the active status of this license, with indications that it may not be currently valid.

　　The regulatory framework in which OGFX operates mandates strict compliance with operational guidelines, ensuring a secure trading environment for investors. This includes the requirement for client funds to be held in segregated accounts at top-tier banks, minimizing risks associated with fund mismanagement. Furthermore, OGFX adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to prevent fraudulent activities and ensure the integrity of its operations.

　　Despite the regulatory oversight, potential investors should exercise caution as there have been reports of the broker's website being inactive, which raises concerns about its operational status. The absence of an investor compensation scheme in Australia, unlike some other jurisdictions, may pose additional risks for clients.

3. Trading Products and Services

　　OGFX offers a wide range of trading products, primarily focusing on forex, where it provides access to over 50 currency pairs with competitive spreads. The broker also offers Contracts for Difference (CFDs) across various categories, including commodities, indices, and metals, allowing traders to diversify their portfolios.

　　The product range is designed to cater to both retail and institutional clients, with services tailored to meet the specific needs of each group. OGFX continuously updates its trading offerings, ensuring that clients have access to the latest market trends and instruments. However, the broker's offerings in terms of cryptocurrency trading are limited, which may not appeal to all traders.

　　In addition to its trading products, OGFX provides educational resources, market analysis, and trading signals to assist traders in making informed decisions. The broker also emphasizes the importance of maintaining a robust trading environment through the provision of advanced tools and strategies.

4. Trading Platforms and Technology

　　OGFX primarily utilizes the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface and advanced trading features. The platform supports various devices, including desktop and mobile applications for both iOS and Android systems. MT4 is equipped with numerous built-in technical indicators and charting tools that facilitate comprehensive market analysis.

　　The broker employs an STP execution model, which allows for direct order placements in the market without dealing desk intervention. This model is designed to provide clients with the best possible pricing and execution speeds. The servers utilized by OGFX are strategically located to ensure optimal performance and reliability.

　　OGFX also supports automated trading through the use of Expert Advisors (EAs), allowing traders to implement their strategies without the need for constant monitoring. The broker's commitment to technological advancement is evident in its continuous updates to the MT4 platform, enhancing user experience and trading efficiency.

5. Account Types and Trading Conditions

　　OGFX offers several account types to accommodate different trading preferences and requirements. The main account types include:

　　Standard Account: Requires a minimum deposit of $1,000, with leverage up to 1:400. This account type is ideal for new traders looking to enter the forex market with manageable risks.
　　Pro Account: Designed for experienced traders, this account requires a minimum deposit of $50,000 and offers lower trading costs, along with access to trading reports and regular market outlooks.
　　Islamic Account: This account type is tailored for Muslim traders who adhere to Sharia law, providing a swap-free trading environment.

　　Both account types allow for flexible leverage options, ensuring that traders can choose a level that suits their risk tolerance. The minimum trade size is typically set at 0.01 lots, allowing for micro-trading, which can be particularly beneficial for beginners.

　　However, traders should be aware of the potential for overnight fees, which may apply depending on the account type and market conditions.

6. Fund Management

　　OGFX supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets such as Alipay and UnionPay. The minimum deposit requirement varies by account type, with the standard account starting at $1,000.

　　Deposits are processed promptly, typically within a few hours, while withdrawals may take longer, depending on the method used. OGFX does not charge any fees for deposits or withdrawals; however, clients may incur fees from their financial institutions.

　　Withdrawal requests must be made using the same method as the initial deposit, and while OGFX does not impose withdrawal fees, banks may apply transfer charges that will be deducted from the total amount.

7. Customer Support and Educational Resources

　　OGFX provides comprehensive customer support through various channels, including telephone, email, and online chat. The support team is available 24/5, covering major trading hours, and is equipped to assist clients in multiple languages.

　　The broker offers an array of educational resources designed to enhance the trading skills of its clients. These resources include webinars, tutorials, and eBooks, as well as market analysis services that provide daily insights and research reports.

　　Additionally, OGFX offers various trading tools, such as economic calendars and calculators, to help traders make informed decisions and manage their trades effectively.

8. Regional Coverage and Restrictions

　　OGFX primarily serves clients in Australia and other regions, with a focus on providing a robust trading environment for both retail and institutional customers. However, the broker does not accept clients from the United States, which may limit its reach in certain markets.

　　The company has established a presence in various regions, but its operational status has raised concerns due to reports of its website being inactive. Potential clients are advised to verify the broker's current status and ensure compliance with local regulations before engaging in trading activities.

　　In conclusion, the OGFX broker presents a range of trading opportunities backed by regulatory oversight from ASIC. However, potential investors should remain vigilant regarding its operational status and the implications of its regulatory framework.

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