OMC Markets Review
OMC Markets is the cryptocurrency broker that also deals with CFDs over foreign exchange, commodities, stocks, spot metals, bonds, and EFTs. Total 6 trading accounts are provided that requires high initial funds. All six trading accounts are provided with 1:200 maximum leverages and higher spreads. The broker is situated in Bulgaria and operates without a license. If any of our followers are thinking to trade with OMC Markets you better read this OMC Markets review first.
About OMC Markets:
The provided six trading accounts are namely Basic, Bronze, Silver, Gold, Platinum and Black. The required high initial funds of $250, $10k, $25k, $50k and $100k are needed to start trading on the first five provided trading accounts. Sadly, the required fund for the most premium trading account Black is not known. All these six trading accounts have maximum leverages of 1:200. The spreads we saw on the trading platform was floating at 3.5 pips on Euro Dollar fx pair. To prepare unprejudiced and complete review we shall discuss all the possible pros and cons of OMC Markets. At first, we will shed light on all the possible pros of OMC Markets. The broker offers CFDs over all the possible crypto coins. They are Bitcoin, Litecoin, Zcash, Ripple, EOS are few to mention. It also provided trading on commodities, stocks, indices and 52 Fx pairs. The leverages of 1:200 are feasible for most aggressive trading style. However, generally, 1:100 leverage ratios are acceptable. Almost all payment options are available at OMC Markets. They are bank wire transfer, Credit Card and almost all electronic wallets. It also accepts bitcoins.
The disadvantages of OMC Markets are as follows. OMC Markets is owned by a Bulgarian company Personal Found LTD. Sadly, it is not a regulated broker and poses scam risk. OMC Markets also provides promotional bonuses. However, if accepted traders should trade higher trading volume before eligible to take them out. It means for a $100 bonus trader at least earn 125 points that are equivalent to 1250000 USD trade. It is highly unlikely. Spreads of 3.5 pips are unhealthy to trade and will increase trading cost many folds. MT is not supported by OMC Markets.
Is OMC Markets scam or legit?
The broker is situated in overseas and operates without a valid license. The high minimum investments are required. Also, spreads and leverages are not competitive. MT is absent and bonuses are provided. That need high trading volume trade. Therefore, OMC Markets is a potential scam cryptocurrency broker.