Investors Alert openmarkets.cfd – This is a suspected imposter entity. It may be impersonating or falsely claiming to be working with:
– a registered Australian business;
– Australian financial services licensee;
– Australian credit licensee; and/or
– the authorized representatives or employees of the business or licensee.
Introduction to openmarkets.cfd:
openmarkets.cfd is a website that claims to provide online trading services in various financial instruments, such as forex, commodities, indices, stocks and cryptocurrencies. The website states that it is operated by a company registered in the Marshall Islands. However, ASIC (the Australian Securities and Investments Commission) has issued a warning that openmarkets.cfd is a suspected imposter entity that is not affiliated with the licensed Australian broker. ASIC advises investors to avoid dealing with openmarkets.cfd and to report any suspicious activity to them.
Products and Services offered by openmarkets.cfd:
According to its website, openmarkets.cfd offers four types of trading accounts: Basic, Silver, Gold, and Platinum. Each account has different minimum deposits, spreads, leverage, and bonuses. The website also claims to offer various trading platforms, such as MetaTrader 4, WebTrader, and Mobile Trader. Additionally, the website promises to provide educational resources, market analysis, trading signals, and customer support.
Financial institution & regulatory license of openmarkets.cfd:
openmarkets.cfd states that it is operated by Open Markets Group Ltd, a company registered in the Marshall Islands. However, this does not mean that the entity is licensed or regulated by any reputable authority. ASIC warns that openmarkets.cfd is not authorized to provide financial services in Australia and may be impersonating a licensed Australian broker, which has no connection with openmarkets.cfd. Therefore, investors who deal with openmarkets.cfd are at a high risk of losing their money and becoming victims of a scam.
Trader’s Reviews and Customer Service of openmarkets.cfd:
There are very few online reviews about openmarkets.cfd, which is a red flag for any online trading service. The few available reviews are mostly negative and complain about poor customer service, withdrawal issues, hidden fees, and aggressive sales tactics. Some reviewers also claim that they were contacted by openmarkets.cfd after registering with other websites or platforms that turned out to be scams. The customer service of openmarkets.cfd can be reached by phone, email, or live chat, but there is no guarantee that they will respond or resolve any issues.
How do online trading scams operate:
Online trading scams are becoming more common and sophisticated as scammers use various techniques to lure unsuspecting investors into their schemes. Some of the common signs of an online trading scam are:
– Offering unrealistic returns or guarantees
– Asking for upfront fees or deposits
– Using high-pressure sales tactics or incentives
– Providing false or misleading information
– Impersonating legitimate entities or regulators
– Using fake or cloned websites or platforms
– Refusing or delaying withdrawals or account closure
– Manipulating prices or trades
– Threatening or harassing customers
How to Safeguard Against Fraudulent Brokers:
To protect yourself from fraudulent brokers, you should always do your research before investing your money online. Some of the steps you can take are:
– Check the credentials and reputation of the broker or entity you are dealing with
– Verify their license and regulation status with the relevant authorities
– Read the terms and conditions carefully and understand the risks involved
– Avoid giving out your personal or financial information to unknown or untrusted sources
– Use secure payment methods and keep records of your transactions
– Be wary of unsolicited offers or requests
– Report any suspicious activity or fraud to the authorities
openmarkets.cfd is a suspected imposter entity that claims to offer online trading services but is not licensed or regulated in Australia. ASIC warns that this entity may be involved in a scam and advises investors to avoid dealing with it. If you are looking for a reliable and trustworthy online trading service, you should look for one that has a valid license and regulation from a reputable authority and has a good reputation among customers and reviewers.