Omega Capital Markets purports to be an honest Australian brokerage house regulated by ASIC. It claims to offer a wide range of trading options, including stocks, ETFs, bonds, options, futures, derivatives, CFDs, and cryptocurrencies, making it seem like a one-stop shop for investors.
However, doubts are swirling about the authenticity of its license. The website also doesn’t offer a demo account and requires a hefty minimum deposit. Potential investors should be aware of these red flags, which is why it’s important to read our Omega Capital Markets review.
| Regulated by: | Unregulated Scam Broker |
| Is This Company Safe? | No, the platform is fraudulent |
| Known Websites: | omega-cm.net |
| Have Warnings from: | ASIC, FSMA |
| Registered in: | Australia, Canada, Luxembourg (all allegedly) |
| Operating since: | 2024-03-12 |
| Trading Platforms: | Web |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | 5,000 USD |
| Deposit Bonus: | Available |
| Trading Assets: | CFDs, Cryptocurrencies, Stocks, Bonds, Options, Futures |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Omega Capital Markets Regulated?
Posting a registration number link that directs users to Skype rather than a registry page is suspicious. Claiming to be registered with financial regulators in Australia and Canada is even bolder.
The Australian Securities and Investments Commission (ASIC) has flagged the Omega Capital Markets broker as an imposter misusing the information of a legitimate entity, OMEGA CAPITAL PTY LTD. Additionally, there are no records from the Investment Industry Regulatory Organization of Canada (IIROC) to back their Canadian registration claims.
The Financial Services and Markets Authority (FSMA) has also listed the website as a fraudulent platform and advised investors to avoid it, as the Belgian watchdog did with UCoinCapital. All signs point to Omega being a scam.
Instead of trusting anonymous operators, we recommend choosing firms regulated by reputable financial authorities like the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), and MAS (Singapore).
Who Are Omega Capital Markets’s Targets?
According to WHOIS, the omega-cm.net website domain was created on March 12, 2024. Since then, the financial swindlers have mainly been targeting unsuspecting traders and investors from the following jurisdictions:
- United Kingdom
- Germany
- Australia
- Belgium
- Spain
Each of these five jurisdictions has stringent financial regulations to fend off virtual fraudsters, ensuring their markets are governed by tough laws that do not allow anonymous phonies, such as AllPaySoft. Operating without proper authorization is illegal, and Omega Capital Markets’ deceptive practices have drawn the attention of Australian and Belgian regulators.
Trader Reviews – Sharing Experiences
We found several negative Omega Capital Markets reviews on forexpeacearmy.com. Traders know the platform is deceptive and have outlined proof points in their comments. The thread started with a user complaining about Omega Capital Markets withdrawal issues and developed into full-on exposure.
Listening to user feedback is essential for spotting reliable companies and dodging scams. Before you invest, take a moment to check out what other traders and investors are saying about the platform. Honest reviews like ours can help you avoid financial pitfalls in the unpredictable digital space.
Which Trading Platform Is Available?
There’s no Omega Capital Markets app, just a browser-based terminal offering Forex currency pairs, indices, stocks, commodities, and cryptocurrencies. The interface was disappointing straight away. Although it includes basic tools like charts, graphs, and indicators, it lacks advanced features. This, combined with the broker’s questionable background and reports of platform manipulation.
We recommend avoiding it and choosing a licensed provider that supports reliable third-party software like MetaTrader 4, MetaTrader 5, or cTrader.
Trading Info – Accounts, Leverage, Spreads, Commissions
Omega Capital Markets account types include Basic, Bronze, Silver, Super, Platinum, VIP, and Saving Accounts, each with different minimum deposit requirements. The Basic account starts at $5,000, the Bronze at $25,000, and Silver, Super, and Platinum accounts at minimum deposits of $50,000, $75,000, and $100,000, respectively.
The VIP account, requiring a $200,000 deposit, allegedly provides elite services and specialized account management. The savings account allows traders to earn interest on deposits while accessing financial markets. It’s super expensive and not worth it.
As for max leverage, the broker claims to offer from 1:10 for Bronze accounts to 1:200 for VIP and Saving Accounts. This leverage allows traders to control larger positions with smaller capital, potentially amplifying returns. However, while leverage can enhance profits, it also increases the risks of huge losses. Spreads and commissions are unknown.
Can Traders Use a Free Demo Account?
You won’t find a demo account on the Omega Capital Markets login page. They skip this crucial feature, pushing traders to deposit real money straight away. This sneaky move lets scammers grab funds before users catch on.
For newbies, starting with virtual funds is a must. Don’t risk your cash from the get-go. Reputable brokers always offer demo accounts, so why take chances on sketchy platforms?
Deposit and Withdrawal Process
Depositing funds might seem like a breeze, but getting your money back? That’s a whole other story, as many users have pointed out in their reviews. Withdrawal problems are a classic sign of a potential scam. If you’re stuck in this mess, it’s time to explore other options for getting your money back.
If you paid with a MasterCard or Visa credit/debit card, you can try to get a chargeback from your bank within 120 days of the transaction. Be ready to present a solid case with plenty of evidence. You can try to recall the transaction through your bank for wire transfers, but it’s only possible if the funds haven’t already disappeared into the scammer’s account.
Recovering stolen cryptocurrency is trickier. It usually involves using advanced software like CipherTrace and getting professional help. Luckily, our team is here to assist you through this complex process.
Key Facts To Consider About Omega Capital Markets
The point we’re trying to make is that Omega Capital Markets is a hoax and imposter, not a legitimate provider. The scheme targets traders in the UK, Australia, Belgium, Germany, and Spain. The FSMA and ASIC clearly pointed that out in their warnings.
We do not recommend trading on such platforms due to their unregulated status. If you are a victim of the Omega Capital Markets Forex scam, you must seek our professional help to recover your funds! A chargeback is your best option.
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is Omega Capital Markets?
It’s a cutthroat website impersonating a legitimate firm. It’s all part of a trading scheme designed to fool traders.
Is Omega Capital Markets Legit?
The scam made the grade on ASIC’s website, with the Australian watchdog exposing the whole thing.
Who Owns Omega Capital Markets Broker?
This website is not the real Omega; it’s using its name as a facade to conceal the scheme. Anonymous tricksters are behind it.
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