Is OxTrades Trustworthy? A Detailed Review of oxtrades.net

It may seem to a beginner that starting trading and making a profit is quite easy if you study the basics of the field. However, in reality, things are not as simple as they seem, as one of the most important aspects is finding a reliable platform. There are very few trustworthy organizations on the market at the moment, and companies often seek to deceive investors by not paying them. To avoid such a situation, it is advisable to read the OxTrades review before depositing funds.

Is OxTrades a Trusted Broker?

It’s worth noting the fact that Forex broker OxTrades publishes information about the availability of registration in Saint Lucia. However, it is important to understand that brokers are not licensed in this region and their activities are not regulated. If you experience financial difficulties, you will need to resolve them through law enforcement agencies and not the regulator. This process may take several weeks or months.

The company’s owners do not disclose the minimum deposit requirements on their website, but they describe the packages of services in detail. The leverage could be as high as 1:400, which is alarming. Fraudulent organizations often overestimate this figure, leading to clients losing their deposits as a result of trading. Especially for beginners who may not be familiar with the risks of leverage.

The broker claims to be one of the leading players in the global market. You can verify this information using a specialized service that provides real-time statistics on the site’s popularity. Although the site was only launched in January 2024, its average daily traffic is barely more than 100 visitors.

Concerned About Withdrawal?

There is no payment information in the menu. However, if you examine the data on the website, it appears that you can make deposits using bank cards, e-wallets, and cryptocurrencies. The broker doesn’t disclose the financial aspects of cooperation, such as the amount of fees for withdrawals/deposits, etc.

How Long Does The Broker Work?

The working period for OxTrades is unclear. It’s difficult to determine the actual duration of the project because the broker doesn’t reveal information about when it was founded or how long it’s been providing services. Moreover, we noticed that this trading platform has changed its domain. Previously, they operated under the address OxTrades.com. Now, the broker serves clients through OxTrades.net. It’s easy to assume that issues arose with the previous domain, as many regulators have already issued warnings labeling OxTrades as a scam.

Other Signs of Fraud

❗Concealment of information about the organization’s owners. There is absolutely no information on the website about who created this platform or what kind of people are responsible for maintaining its operations and assisting traders at the moment.

❗Use of AI to predict market changes. The page with information on account types states that the company offers artificial intelligence that should be able to more accurately predict market conditions. This may sound like an interesting proposition, but in reality, this type of scheme seems like a scam. Currently, there are no 100% reliable cases of market forecasts from AI. Instead, robots are only being used for training purposes.

❗The ability to automate trading strategies is a key feature of this platform. However, if artificial intelligence (AI) is used for this purpose, there is no guarantee that it will help to maximize profits from transactions. AI can continue trading even if the strategy proves to be unprofitable, so it is important to be cautious. There are currently no publicly available statements confirming the platform’s yield.

OxTrades Review Conclusions

This broker has had a very short lifespan and is not yet regulated by any authorities. Reviews of OxTrades indicate that customers are hesitant to trust the project at this time. One possible reason for this is that the company does not disclose detailed information about its operations and avoids answering certain questions.

Advantages and Drawbacks

➕New and modern website design.

➖Difficulty accessing the platform.

➖Lack of licenses.

➖Lack of information on pricing accounts.

FAQ

Brief Conditions

Type	Forex
Location	Saint Lucia
Establishment Year	2024
Regulation	❌
Customer Service	Email [email protected]
Languages	En, Ja, Co, Po, Ge, Fr, Hi
Demo Account	❌
Mobile Trading	✅
Web-based Trading	✅
Bonuses	❌
Minimum Deposit	❌
Max. Leverage	1:400
Scalping Allowed	✅