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ONWARD TRADE OPTION

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Operating status: SCAM

Website: https://www.onwardtradeoptions.com/index.html

Broker violations and abnormal records
  • 2024-01-24 The FCA issues a warning against ONWARD TRADE OPTION

    On January 25, 2024, the Financial Conduct Authority (FCA) issued a warning against ONWARD TRADE OPTION, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/onward-trade-option-0

    On January 25, 2024, the Financial Conduct Authority (FCA) issued a warning against ONWARD TRADE OPTION, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/onward-trade-option-0
  • 2024-01-25 BrokersView has reviewed that ONWARD TRADE OPTION is an unregulated trading platform

    ONWARD TRADE OPTION purports to be a regulated entity by displaying five certificates on its website. These are from the Mauritius Financial Services Commission (Mauritius FSC), the National Minority Supplier Development Council (NMSDC), Inter-Agency Task Force CORE and Freedom of Information, the Financial Commission, and the Securities and Exchange Commission of Philippines (Philippines SEC).

    However, it's worth noting that this set of certificates has been seen before. Numerous fraudulent investment platforms have used these same certificates, merely substituting their own brand names to give an appearance of authenticity (refer to a similar scam EasyFxExchange previously exposed by BrokersView).

    Signs of photoshopping can be observed. Of these five licenses, only those from the Mauritius FSC, Financial Commission, and the Philippines SEC pertain to financial markets. A search for ONWARD TRADE OPTION within the registers of these agencies confirms the suspicions - the certificates are counterfeit.

    Moreover, the Financial Conduct Authority (FCA) has issued a warning about ONWARD TRADE OPTION, categorizing it as an unauthorized firm in the UK.

    In essence, ONWARD TRADE OPTION is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    ONWARD TRADE OPTION appears to be a scam.

    ONWARD TRADE OPTION purports to be a regulated entity by displaying five certificates on its website. These are from the Mauritius Financial Services Commission (Mauritius FSC), the National Minority Supplier Development Council (NMSDC), Inter-Agency Task Force CORE and Freedom of Information, the Financial Commission, and the Securities and Exchange Commission of Philippines (Philippines SEC).However, it's worth noting that this set of certificates has been seen before. Numerous fraudulent investment platforms have used these same certificates, merely substituting their own brand names to give an appearance of authenticity (refer to a similar scam EasyFxExchange previously exposed by BrokersView).Signs of photoshopping can be observed. Of these five licenses, only those from the Mauritius FSC, Financial Commission, and the Philippines SEC pertain to financial markets. A search for ONWARD TRADE OPTION within the registers of these agencies confirms the suspicions - the certificates are counterfeit.Moreover, the Financial Conduct Authority (FCA) has issued a warning about ONWARD TRADE OPTION, categorizing it as an unauthorized firm in the UK.In essence, ONWARD TRADE OPTION is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.ONWARD TRADE OPTION appears to be a scam.

Related Complaints

Q&A

ONWARD TRADE OPTION has any commission of trading?

Zak
Costa Rica
2024-02-05
ANSWER We strongly recommend steering clear of ONWARD TRADE OPTION, as it appears to be a potentially fraudulent scheme.ONWARD TRADE OPTION is a typical trading platform that uses a combination of counterfeit certificates to project an image of legitimacy. Our investigation into this platform indicates that none of these licenses are authentic. Further raising alarm, the Financial Conduct Authority (FCA) has issued a warning about ONWARD TRADE OPTION, identifying it as an unauthorized entity in the UK.These deceptive practices suggest an intent to defraud. Interacting with ONWARD TRADE OPTION could lead to potential fraud and identity theft. For a safer trading experience, investors are advised to avoid unlicensed platforms like ONWARD TRADE OPTION and instead opt for platforms that are under strict regulatory supervision.
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