OM-m Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
Trading with OM-m was frustrating due to frequent and negative slippage during my trades. Overall, I was really disappointed with the trading experience and the company itself. I hate it! They must have manipulated my account, but I have no evidence to prove that. I'm trying to withdraw all my money.
In this comprehensive review of Om M, we explore the broker's offerings, user experiences, and expert opinions to provide a balanced view of its services. Overall, Om M has garnered mixed feedback, with some users praising its trading platform and asset variety, while others express concerns over regulatory oversight and withdrawal issues.
Note: It is crucial to recognize that Om M operates under different entities in various regions, which may impact user experiences and regulatory compliance. This review aims to present a fair and accurate assessment based on available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Regulatory Compliance | 3 |
How We Rated the Broker: Our ratings are based on a synthesis of user experiences, expert opinions, and factual data from multiple sources.
Founded in 2017, Om M is an international broker registered in Belize. It holds licenses from the Belize Securities and Exchange Commission, the International Financial Services Commission, and the Financial Services Commission of Mauritius. The broker offers a trading platform based on MetaTrader 4 (MT4), which is popular among traders for its user-friendly interface and advanced charting capabilities. Om M provides access to a wide range of assets, including stocks, indices, forex pairs, commodities, and cryptocurrencies.
Regulatory Regions:
Om M operates in various jurisdictions, including Belize and Mauritius, which may lead to differing levels of regulatory oversight. While it holds licenses, the effectiveness of these regulators has been questioned, with some users expressing concerns about the broker's legitimacy.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker supports deposits and withdrawals in USD, and transactions can be made through credit/debit cards, bank transfers, and electronic payment systems. However, the fees associated with withdrawals remain unclear, raising concerns among users.
Minimum Deposit:
Om M requires a minimum deposit of $1,000 for its starter account, which may be seen as high compared to other brokers that offer lower entry points. This could limit access for novice traders.
Bonuses/Promotions:
There is limited information available regarding bonuses or promotions offered by Om M. Users are advised to read the fine print carefully, as promotional offers can sometimes come with stringent terms and conditions.
Tradable Asset Categories:
Om M provides a diverse array of trading instruments, including over 150 positions across various asset classes. This includes forex pairs, commodities like gold, and cryptocurrencies, which can appeal to a wide range of traders.
Costs (Spreads, Fees, Commissions):
While specific costs are not extensively detailed in the reviews, users have reported mixed experiences regarding spreads and commissions. Transparency in pricing is essential for traders, and any hidden fees can significantly impact profitability.
Leverage:
The broker offers varying leverage options depending on the account type, with a maximum leverage of 1:500 available for professional accounts. While high leverage can amplify profits, it also increases the risk of significant losses.
Allowed Trading Platforms:
Om M primarily uses the MT4 platform, which is well-regarded in the trading community for its robust features. However, the lack of proprietary platforms may be a drawback for some traders looking for unique functionalities.
Restricted Areas:
There is limited information regarding specific regions where Om M may not operate. However, traders are advised to ensure compliance with local regulations before opening an account.
Available Customer Service Languages:
Customer support is available in multiple languages, but the quality of service has been noted as a concern, with some users reporting delays in response times and inadequate assistance.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Regulatory Compliance | 3 |
Account Conditions:
The minimum deposit requirement of $1,000 may deter some traders, particularly beginners. While the account types are tailored for different trading levels, the high entry point could limit accessibility.
Tools and Resources:
Om M offers a variety of tools, including the widely-used MT4 platform, which provides advanced charting and analysis features. However, the availability of educational resources appears limited, which may hinder novice traders seeking to improve their skills.
Customer Service and Support:
Customer service has received mixed reviews, with some users reporting slow response times and a lack of effective assistance. This can be a significant drawback for traders who require timely support.
Trading Setup (Experience):
The trading experience on the MT4 platform is generally positive, as it is known for its reliability and user-friendly interface. However, the overall trading environment may be impacted by the broker's lack of robust regulatory oversight.
Trustworthiness:
Despite holding licenses, Om M's regulatory status has been questioned, leading to concerns about the safety of client funds. Users are encouraged to conduct thorough research before investing.
User Experience:
Overall user experiences have varied, with some traders expressing satisfaction with the platform's features while others report issues with withdrawals and customer support.
Regulatory Compliance:
The lack of stringent regulatory oversight raises red flags for potential investors. While the broker is licensed, the effectiveness of these regulators is often questioned, leading to a lower trust rating.
In conclusion, the Om M review highlights both strengths and weaknesses in the broker's offerings. While it provides a variety of trading instruments and utilizes a popular platform, concerns over regulatory compliance and customer service may deter some potential traders. Careful consideration and due diligence are advised before engaging with this broker.
FX Broker Capital Trading Markets Review
