FXOpal: reviews about the company. Is it worth it to work with her or not?

Attention! Fraud company!

Leave a request for a refund from a scammer.

When deciding to cooperate with a broker, pay attention not only to its offers, but documentation, in particular, the availability of licenses, is at the forefront. FXOpal clients miss this point and end up falling victim to a scam. Details are in the review.

General information about the company

FXOpal (Opal Broker) claims to provide brokerage services to residents of different countries and guarantee fair and profitable trading. The footer says that the company is registered in Saint Vincent and the Grenadines. This is true - it is listed in the svgfsa.com database. However, this fact does not indicate that the funds of its clients are protected and they are guaranteed fair trade. This is a pure formality. 

Place of registration of FXOpal is Griffith Corporate Centre. It is noteworthy that the number of negative reviews about sharagas registered here is off scale. Hundreds of charlatans use this address only for cover. 

According to legend, the office of the office is also located in Turkey. Using the Google Maps service, we found out that the search engine finds only partial matches - it gives out a shopping center. Therefore, most likely, the address is fake. 

To conduct honest brokerage, each organization must obtain a license from the regulator of the country in which it provides its services. Otherwise, her work is illegal. In St. Vincent and the Grenadines, the FXOpal “kitchen” could not obtain this document, since the SVGFSA has not issued licenses for a long time.

In Russia, there is Law No. 460-FZ, according to which all brokerage companies must have a permit from the Central Bank of the Russian Federation, join an SRO and register, having received the status of a legal entity in this country. Since the FXOpal office mainly operates on the Russian market, it should appear in the cbr.ru, egrul.nalog.ru registries and among self-regulatory organizations, but it was nowhere to be found. Consequently, it provides services to Russians illegally and by default cannot give them any guarantees.

The "User Agreement" of this "kitchen" is hidden under the registration form, and this is no accident - it contains onerous conditions for cooperation. For example, the breeders explicitly state that:

• can transfer client funds to third parties, while not being responsible for their possible losses;
• may charge the client taxes, stamp duties, duties, etc. (neither their amount nor specific payments are specified);
• have the right to terminate cooperation with the user at any time by restricting his access to his own account and cabinet.

FXOpal is featured on social media. The scammers seek to position themselves as a popular company, so they wind up subscribers: there are 898 followers on the page, while there are only 2-3 likes under the posts and there are practically no comments.

Trading conditions within the platform - fake or reality?

Like all scammers, these are trying to attract the attention of customers with profitable offers:

• trading in 36 currency pairs, stocks, cryptocurrencies;
• floating spread from 2 points;
• stop out - 30%;
• leverage up to 1:500;
• availability of an expert adviser;
• the ability to analyze financial markets;
• 2 types of accounts – “Standard” and “Islamic Account”. 

The fact that all the offers of the intermediary are false is indicated not only by the reviews of deceived users, but also by inflated figures. For example, leverage of 1:500 is too much. No honest company will set such a limit - as a rule, its maximum reaches 1:50 or 1:100. 

The whole truth about FXOpal - in the reviews

Reviews are direct confirmation that we are dealing with a scam. At the moment, there are few of them, and literally all users claim that the office is engaged in fraudulent activities. 

Exposing: how does this “kitchen” actually work?

As former clients of the office write in reviews, it uses various levers of pressure to lure out more money. It all starts with banal advertising - FXOpal employees offer “individual” terms of cooperation, free training, specialist assistance and guaranteed earnings. And to make a lasting impression, they say that they work in conjunction with the largest banks, show fake reports and indicators.

The amount with which a user can start trading seems to be small - $ 100, so it does not arouse suspicion. But as soon as he makes a deposit, the manager starts talking about other necessary contributions, without which it is impossible to start using the platform: taxes, stamp duty, deductions to an insurance account - all this translates into a pretty penny.

During trading, a personal manager is “attached” to the user, who literally hypnotizes his victim, forcing her to increase the deposit all the time and in return receive additional opportunities for earning. The user really earns money, but cannot withdraw them. Judging by the reviews, managers claim that a transaction can only be completed after more than 20 transactions have been completed. 

When a trader fulfills all the conditions he bred and is going to withdraw money, his account is reset to zero and locks are placed everywhere. Representatives of the office say that he made some mistakes, did not provide the necessary documents during registration, so they do not intend to cooperate with him further. And in the end, he ends up with nothing.

Let's summarize

FXOpal is another scam in the financial market that operates without licenses and other permissions. He does whatever he wants, because the law is not written to him. Both the facts that we discovered while preparing the review and the reviews of deceived traders indicate that it is better not to mess with him.