Orotrader Review: Orotrader.com Stay Away!

Orotrader purports to be a trusted FX trading broker in the industry. The company assures that it offers reliable forex trading advice to traders. Regrettably, this is only a story. Orotrader.com is not a transparent site, and thus investors cannot rely upon it. Orotrader has existed for the past two years, and its domain expires in 2021.

Orotrader is an offshore trading site that operates in other nations without authorization. The location being illicit means that the funds of traders are not safe and are prone to disappear. The site’s origin is in Spain, and the Spanish regulatory authority for forex brokers has not licensed Orotrader to engage in trading and brokerage services. Their operations are consequently high risk. We urge you to consistently avoid such companies and only invest in regulated trading sites.

Withdrawals and Deposits

Orotrader possesses three account types, including fixed, professional, and investment. All these accounts are operational depending on an investor’s expected features of the accounts. The fixed period accounts are traded in pounds, Euros, or sterling pounds. Since this type of account is fixed, it’s not affected by inflation or devaluation of currencies. This is a good investment opportunity for the certainty of returns.

The professional account allows investors to use the MetaTrader to manage their portfolio easily. Joining this account enlightens the investors as they are guided using courses designed specifically for them. The investment account is mainly defined for retirement. This account enables users to manage taxes incurred when trading efficiently. It also serves as a long term investment.

The account payments are only payable through credit cards. However, it is disappointing that they have provided that acceptable payment channels include American Express, UPayCard, wire transfer, and many others. Legit forex trading forums provide reliable information to traders to enable them to make realistic decisions. Orotrader bypassed this transparency virtue. The amount required to open the different accounts described above has not been provided, making an investment into the platform difficult.

Is orotrader.com licensed?

Forex brokers should be licensed despite their location. Orotrader should register their existence with the relevant authority. We encourage the traders to acquaint themselves with the licensing permissions granted to their prospective investment sites. Regulatory authorities list all regulated forex platforms in their jurisdiction. Traders need to familiarize themselves with the licensing data of sites they intend to trade on.

According to the platform, the site is based in St Vincent in Beachmont. This is an offshore broker website. Offshore companies are never regulated, and funds in these platforms are not safe at all. The offshore company may seize existence anytime without notice. Scammers are not obliged to refund investment money deposited by traders since they are unregulated. It is also very possible to lose all money invested and have no return.

Legit sites are mostly based in states that allow regulation, i.e., FCA-UK and CySEC. This means that since there are regulators, the trading platforms can reimburse traders if scammed or if the broker goes bankrupt. We, therefore, urge our readers to stay away from orotrader.com as it’s a scam!

Orotrader Founders and Team

Some companies own orotrader.com. Two institutions own the trading platform. The company is co-owned by both KOI and Ventura Group. KOI Group is a company that operates offshore. This is the leading company. The Ventura Group is only available to provide the software that aids in trading. In this case, the platform uses the MetaTrader software.

The co-owners of the company has been shamed as scammers by the regulatory body based in Spain. The National Securities Market Commission-CNMV is the licensing authority in Spain. The CNMV, as stated in Spanish, oversees the registration of forex brokers. Since orotrader.com has been blacklisted, investing with them is a huge mistake. All legally registered sites are the best to engage in. Investors should precede investment with caution while dealing with any forex investment platforms.

The Domain Insight

Orotrader.com was inaugurated in May 2020. This domain is awaited to expire in 2021, the same month. This is exactly one year after its registration. The one-year period of the site’s existence shows a lack of future existence. A platform that’s expected to trade for years wouldn’t have this short period of existence. They probably intend to rob traders of their invested funds just because they can. The fact that they are unregulated makes them untouchable by the legal authorities.

They also state that they are based in Arizona, US, in their domain data. This is a great lie since they operate from St Vincent in Beachmont, the main state for offshore sites. It is very unprofessional for brokers to present deceitful information to would-be investors.

The Spread and Leverage Ratio 

Spreads are differences between the cost one buys a currency pair and the total figure it’s sold for. The difference is measured in units called pips. A spread of more pips indicates high volatility and low liquidity. The risk at stake shows the volatility. Leverage is borrowing money from brokers by traders to trade beyond their available cash. The acceptable leverage ratios are 1:100 and 1:200, depending on an investor’s initial investment made. In most trading forums, the reasonable trading spread is between 1-2 pips.

As per the Sirix trading forum, the orotrader.com site implements a 3 pip spread against the EUR/USD currencies. This spread indicates a higher risk to investors and, therefore, not cost-effective and manageable by the trader. A lower spread is more reliable since there is a more increased cash flow. Strive to invest in platforms that will actually generate value. This site will only frustrate you.

Contact Details

The company has omitted all information involving how to reach them. There is no email address or mobile number that can be used to call them. There is no live chat space on their site to enable them to respond to clients’ queries. These facts make orotrader.com a risky investment, and you should refrain from investing in it. Only plunge into legalized forex investment forums. 

Orotrader Trading Platforms

Trading is done using different strategies. Each broker knows which platform to best use. They use two trading platforms. They are MetaTrader & Sirix. MetaTrader is the most famous trading platform since the strategies to be used are flexible. The two exchange platforms are very effective and yield the most satisfactory results for traders. There is a concern, though.

The reputation of the firm ruins it all. Since they are an offshore company, we cannot trust them. They are thus not supposed to be used however great their platform is. It is essential to trade knowing the direction of your growth in the future. Investing in orotrader.com is choosing to suffer. It will never yield results.

Final Verdict

Orotrader has proved to be a fraudulent site. They are after your money only. They will convince traders to deposit funds in their broker site and then disappear with their money. Their efforts to scam people have yielded fruits as many have fallen for the trap. Do not be among them. A legal forex trading platform cannot exist in an offshore place. This is where all the illegal trading is done, and they are not liable for blackmailing traders. If this site was in your investment prodigy, scrap it.

Tags: Orotrader Review, Orotrader.com Scam Review