Openmarkets.cfd Review
Beware Investors 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 authorised representatives or employees of the business or licensee.
Who is openmarkets.cfd?
Openmarkets.cfd is a website that claims to provide online trading services in various financial instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. The website also claims to have offices in Australia, the UK, and Cyprus. However, ASIC has issued a warning that openmarkets.cfd is not affiliated with the Australian company OpenMarkets Australia Limited, which is a licensed and regulated broker. ASIC also advises that openmarkets.cfd may be operating a scam and urges investors to avoid dealing with this entity.
Regulation of openmarkets.cfd
Openmarkets.cfd is not regulated or licensed by any authority in Australia or elsewhere. This means that investors who deal with this entity are not protected by any legal or regulatory framework and may be exposed to high risks of fraud, identity theft, money laundering, and other illegal activities. Furthermore, openmarkets.cfd may not comply with the rules and standards of fair and transparent trading practices, such as providing accurate and timely information, maintaining adequate capital and liquidity, segregating client funds, and resolving disputes.
Location of openmarkets.cfd
The location of openmarkets.cfd is unclear and may be misleading. The website provides three different addresses for its offices: one in Sydney, Australia; one in London, UK; and one in Limassol, Cyprus. However, none of these addresses are verified or registered with the relevant authorities. Moreover, the website does not provide any phone number or email address for contacting the entity. This raises doubts about the legitimacy and credibility of openmarkets.cfd and suggests that it may be hiding its true identity and location.
Services offered by openmarkets.cfd
Openmarkets.cfd claims to offer a range of online trading services, such as access to various financial markets, trading platforms, educational resources, market analysis, and customer support. However, these services may not be reliable or trustworthy, as they are not backed by any regulatory oversight or quality assurance. Moreover, the website does not provide any details about the fees, commissions, spreads, leverage, margin requirements, or withdrawal policies of the entity. This means that investors may face hidden charges or unfavorable terms and conditions when dealing with openmarkets.cfd.
Reviews of openmarkets.cfd
There are very few reviews of openmarkets.cfd available online, and most of them are negative or suspicious. Some reviewers claim that they have lost money or been scammed by openmarkets.cfd, while others warn potential investors to stay away from this entity. Some reviewers also allege that openmarkets.cfd uses fake testimonials and reviews on its website to lure unsuspecting customers. Therefore, investors should exercise caution and do their own research before trusting any reviews of openmarkets.cfd.
Customer Service of openmarkets.cfd
Openmarkets.cfd does not provide any effective or responsive customer service to its clients. The website does not have any live chat or phone support options, and the only way to contact the entity is through a web form. However, many customers complain that they do not receive any reply or assistance from openmarkets.cfd after submitting their queries or complaints. Some customers also report that they have been harassed or pressured by openmarkets.cfd representatives to deposit more money or to accept unfavorable deals.
Securing Your Investments Against Unscrupulous Brokers
If you are interested in online trading, you should always choose a reputable and regulated broker that can offer you a safe and secure trading environment. You should also check the credentials and reputation of any broker before opening an account or making a deposit. Here are some tips to help you secure your investments against unscrupulous brokers:
– Verify the license and regulation status of the broker with the relevant authorities in your jurisdiction.
– Check the reviews and ratings of the broker on independent websites and forums.
– Read the terms and conditions of the broker carefully and understand the fees, charges, risks, and obligations involved.
– Use secure payment methods and avoid sharing your personal or financial information with unknown parties.
– Monitor your trading account regularly and report any suspicious or unauthorized activity.
– Withdraw your profits regularly and keep a record of your transactions.
– Seek professional advice if you encounter any problems or disputes with your broker.
Conclusion
Openmarkets.cfd is a suspected imposter entity that pretends to offer online trading services but may be involved in a scam. ASIC warns investors to avoid dealing with this entity as it is not licensed or regulated in Australia or elsewhere. Investors who deal with openmarkets.cfd may face high risks of losing their money or becoming victims of fraud or other illegal activities. Therefore, investors should always choose a reputable and regulated broker that can provide them with a safe and secure trading environment.
