OBV Markets Review 1
They insisted on opening a reverse transaction and frozen my account.


OBV Markets Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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They insisted on opening a reverse transaction and frozen my account.
Summary: OBV Markets has garnered a significantly negative reputation among users and experts alike due to its unregulated status and questionable operational practices. Key findings indicate a lack of transparency in trading conditions and user experiences that raise serious concerns about fund safety.
Note: It is crucial to recognize that OBV Markets operates in a jurisdiction with minimal regulatory oversight, which can significantly affect user security and recourse in case of disputes.
Category | Rating (out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 2 |
Trustworthiness | 1 |
User Experience | 2 |
How We Rate Brokers: Our ratings consider user feedback, expert reviews, and the broker's regulatory standing.
Founded in 2022, OBV Markets is an offshore brokerage operating under OBV Markets LLC, registered in Saint Vincent and the Grenadines. The broker claims to provide access to a wide range of trading instruments including forex, commodities, and cryptocurrencies. OBV Markets promotes the use of the popular trading platforms MetaTrader 4 and MetaTrader 5, but user experiences suggest that these claims may not be entirely accurate. Notably, the broker is not regulated by any recognized financial authority, which raises significant concerns regarding the safety of traders' funds.
Regulated Geographical Areas: OBV Markets operates from Saint Vincent and the Grenadines, a region known for its lack of regulatory oversight in financial services. This absence of regulation means that traders have limited recourse in the event of disputes or issues with the broker.
Deposit/Withdrawal Methods: The broker appears to primarily accept deposits in cryptocurrencies, specifically Tether. This choice is concerning as crypto transactions are irreversible and can pose significant risks, especially when dealing with unregulated firms.
Minimum Deposit: While some sources indicate a minimum deposit requirement of $100, others report that this information is not clearly disclosed on the brokers website. This inconsistency raises red flags about the broker's transparency.
Bonuses/Promotions: There are no clear indications of any bonus schemes or promotions offered by OBV Markets. This lack of promotional offerings might be a tactic to avoid potential regulatory scrutiny.
Tradable Asset Classes: OBV Markets claims to offer a variety of trading instruments, including forex pairs, commodities, stocks, and cryptocurrencies. However, the actual availability of these assets has been questioned by users.
Costs (Spreads, Fees, Commissions): The broker advertises spreads starting from 1.2 pips, but it also charges a commission of $5 per lot, making the overall trading costs higher than many competitors. This pricing structure is less favorable compared to other regulated brokers.
Leverage: OBV Markets offers a high leverage ratio of up to 1:400, which is significantly above the limits set by many regulatory bodies. This high leverage can lead to substantial risks for traders, especially inexperienced ones.
Allowed Trading Platforms: The broker claims to support both MetaTrader 4 and MetaTrader 5, but user reviews indicate significant issues with accessing these platforms. Many users reported that they could not log in or access trading functionalities, raising concerns about the broker's operational integrity.
Restricted Regions: There is no specific information regarding restricted regions, but given its unregulated status, it is advisable for potential clients to exercise caution, especially if they are located in regions with strict regulations.
Available Customer Service Languages: Customer service appears to be available primarily in English, but the quality and responsiveness of support have been criticized, with many users reporting difficulties in obtaining assistance.
Category | Rating (out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 2 |
Trustworthiness | 1 |
User Experience | 2 |
Account Conditions (2/10): The lack of transparency regarding minimum deposits and account types is a major concern. Users have reported confusion over the actual costs and conditions associated with trading, which is typical of unregulated brokers.
Tools and Resources (3/10): While OBV Markets claims to offer advanced trading platforms, user experiences indicate significant operational issues. Many users could not access the promised platforms, which detracts from the overall user experience.
Customer Service and Support (4/10): Although OBV Markets provides customer service, the quality and reliability of support have been questioned. Users report slow responses and inadequate assistance, which is critical for effective trading.
Trading Setup (Experience) (2/10): The trading experience is marred by technical issues and a lack of clarity regarding trading conditions. Many users felt misled about the functionalities available on the trading platforms.
Trustworthiness (1/10): The absence of regulation and the offshore nature of OBV Markets raise serious concerns about the safety of traders' funds. The broker's practices exhibit many characteristics typical of scam operations.
User Experience (2/10): Overall, user feedback is overwhelmingly negative, with many expressing dissatisfaction over the brokers operational integrity and transparency.
In conclusion, the OBV Markets review indicates a broker that poses significant risks to potential traders. The combination of unregulated status, questionable operational practices, and negative user experiences makes it a broker to approach with extreme caution. For those considering trading with this broker, thorough research and consideration of safer, regulated alternatives are strongly advised.