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If you have ended up at this OmagaSafeOption review, then it means that you are searching for a good and professional broker to kick-start your trading career. The countless opportunities in the financial markets have drawn people in hordes towards the online trading space and this has resulted in a massive demand for brokers as well. This is the signal cybercriminals need to take advantage and they have established numerous fraudulent brokerages to entrap people and exploit them. It will only take you a few minutes to find out just how many scams have occurred of late.
They have been happening for years, but the numbers have increased significantly because of the increase in traffic in the financial markets. In addition, they have gotten better at it and this also makes it tough for people to figure out which brokerage is genuine and which one is a fraud. In fact, these fraudsters intentionally add such features and offerings that people find them hard to resist and have to pay a hefty price for it. This is what is likely to happen in the case of OmagaSafeOption as well because it is presented as a globally licensed broker based in California.
A look at the OmagaSafeOption website shows that the broker offers unparalleled trading conditions, along with guaranteed daily profits somewhere between 20% and 70%. It also claims to have a presence in other jurisdictions, such as Germany, China, Australia, France and the UK. This offer sounds like the perfect package for any trader and those who don’t know better would sign up straight away in order to enjoy this spectacular platform. The fact that you need to keep away from this broker becomes apparent when you give it a closer look. What are some of the problems it has? Go over them below:
No licensing and regulation
A broker’s regulatory and licensing status is one of its most distinguishing feature because it indicates whether you are dealing with a legitimate platform, or a shady one. When you check the OmagaSafeOption website, you will find that they claim to be globally licensed and regulated. As a matter of fact, they have mentioned the Financial Conduct Authority (FCA), which is one of the most renowned regulatory authorities in the world, and oversees brokers in the UK.
But, you will not find OmagaSafeOption listed in the FCA’s online register, neither will you find its parent company OmagaSafeOption Ltd. Moving on, the broker has said that it also has offices in California and in order to be based in the United States, it would have to be a member of the National Futures Association (NFA) and also have a license from the Commodity Futures and Trading Commission (CFTC). But, you can check the registers of both these entities and not find the broker listed anywhere.
This means that OmagaSafeOption is an unlicensed and unregulated broker and is outright lying about its status, which means it is certainly not worth trusting.
Before you hand over your money to any company, you need to have some information of their corporate background and other relevant details. The problem with OmagaSafeOption is that when you scour their whole website, the only information that you will find is the address they have given in Redwood City, California. They do not provide any additional details and this means that their website is mostly anonymous. You cannot trust this kind of broker because there is no way for you to verify their address either. This means that it could be just a random address and you cannot trust any platform just like that.
When you check out the offerings given at the OmagaSafeOption website, you will notice that they are guaranteeing you returns of about 200% on a deposit of around $500. This should warn you right away because if you check some of the top brokers in the market, you will notice that none of them guarantee you returns like that. As a matter of fact, what you will find on their website is a risk warning associated with the financial markets that can lead to heavy losses.
Furthermore, when you continue checking out the offerings at OmagaSafeOption, you will also come across the selection of account types they have. These are referred to as investment plans and include Standard, Premium and Professional plans. The broker wants you to invest some money into these accounts for a given period of time and they will give you daily returns between 20% and 70%.
This is exactly what these scam and fraudulent platforms do to attract people and OmagaSafeOption is also taking the same route. But, you have to bear in mind that the reason the financial markets are considered so profitable and lucrative is because they are volatile and unpredictable. Even the topmost experts cannot predict where the market will go, which means it is just not possible for anyone to guarantee profits of any kind.
It is also essential to note that through the investment plans, OmagaSafeOption will be doing the trading on your behalf. But, how can they? Since it is a broker, it is a market maker, which means it profits when traders lose. So, how can it help you profit, when it means losses for the company? This is a conflict of interest, which indicates that it will never do things in your favor.
No trading platform
Another indication that OmagaSafeOption is up to no good is the fact that there is no functional trading platform on their website. This software is the most crucial feature that a broker provides and this is absent here. What you are provided is a funny looking dashboard that doesn’t do anything except create the illusion of a platform. There is no actual trading that can be done.
Along with these problems, you will also find that you can only make deposits in bitcoins on OmagaSafeOption, which means there can be no chargebacks and your money will be lost to you.