OneProGlobal – Can You Trust Them?

Website URL: https://oneproglobal.com

Founded: 2021

Regulations: Unregulated

Languages: English, Vietnamese, Mandarin (China and Taiwan), Korean, Japanese, Malaysian

Deposit Methods: Credit Card, Debit Card, Skrill, Wire Transfer, WebMoney, Neteller, Help2Pay, Tether, Bitwallet, a Thai Wallet

Minimum Deposit: $100

Free Demo Account: No

Number of Assets: Not Specified

Types of Assets: CFDs on Stocks, Commodities and Indices, Foreign Currency Pairs

Trading Accounts and Conditions

Here are the account types offered by OneProGlobal:

• STP Account: The first minimum deposit is $100. The spread for EURUSD is 1.8 pips and the leverage is as high as 1:500.
• ECN Account: The first minimum deposit is $20,000. Spreads for the EURUSD is 1.2 pips and the leverage goes as high as 1:500.
• VIP Account: The first minimum deposit is $50,000. Spreads for the EURUSD is 0 pips and the leverage goes as high as 1:500.
• Islamic Account: All we are told is that this account offers customized products.

OneProGlobal – Advantages

There are no advantages to trading with OneProGlobal – it is just another scam.

OneProGlobal – Disadvantages

Here are all the issues we uncovered with OneProGlobal:

• Lies About Regulation

The first thing we check about a broker is its regulation status – it tells us whether it is operating legally or not. A broker operating without the required licenses is usually a scam.

On this broker’s website, OneProGlobal claims to be fully regulated. It states that OnePro Global Ltd is regulated by the ASIC (Australian Security and Investment Commission), with the Australian Financial Services number 001286818. The broker also states that OnePro Global NZ LTD is regulated by the New Zealand FSPR (Financial Services Provider Registration) with the Financial Services Number FSP1000479. And finally, OnePro Global (Mauritius) Limited is authorized by the Mauritius FSC (Financial Services Commission) and its license number is GB20025905.

All if this gives you a sense of security and gives the broker great credibility. Unfortunately, it is all a lie!

All regulators have online registers where you can check whether a broker is registered or not. So, we checked. This broker and the companies it professes are running the brokerage are not listed with even one of the regulators that it has claimed has licensed it.

Furthermore, if you check OneProGlobal’s website carefully, you will realize that there isn’t a single piece of information about where this company is located. All the broker states is that it is headquartered in Australia, and then mentions its branches – but there are no addresses provided.

All of this information tells us that this broker is a liar and a scammer and is using false information to fool unwary traders into thinking it is a legitimate entity. This is why it is important for you to check a broker’s regulation status with the right authorities – it takes only a few minutes, and it can save you from being scammed.

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• No Demo Account/Inactive MT4 Account

Another red flag we found was that when we opened an account on this broker’s MetaTrader 4 trading platform, the account was inactive. And there was no demo account available for us to test OneProGlobal’s platform.

The fact that this broker does not have a demo account clearly is a bad sign.

Usually, we would mark having a MetaTrader 4 platform as a huge plus, since this is one of the best trading software in the market today. However, since we would not finish their verification process (because they were demanding personal Proof of Identity documents), we were unable to access a live account. This in itself is unusual since such documents are not required as part of verification, and broker’s do not usually lock their trading accounts like this.

Another thing that traders need to know is that regulated brokers are required to offer training accounts so that clients can practice without risk before actually investing real money with them.

All of these issues once again point to a scam.

• Very High Leverage

OneProGlobal offers its clients a leverage that maxes out at 1:500. This ratio is just too high for two critical reasons. First, high leverages can be extremely risky. Yes, there is a possibility of making substantial gains, but sadly, most of the times, the risks are too high and the losses too great; that is the nature of this market – it is speculative, and people lose more than they gain. And second, the Australian and New Zealand regulators have placed limited on how much leverage brokers can offer their clients; it is capped at 1:30. In fact, most regulators have placed a cap on the leverage ratios because of how dangerous it is.

Therefore, offering a leverage of 1:500 is pretty much against the law in these two jurisdictions.

• Vague Terms and Conditions

Another red flag that tells us that this broker is actually a scammer is the way the terms and conditions are so vague. The Terms and Conditions are the legal documents that define the contract between the trader and the broker. These documents need to be extremely specific so that the trader is aware of the exact terms of service.

However, OneProGlobal has couched its Terms and Conditions in generalities. There is no information on what the withdrawal terms are, or even what fees and commissions may be charged. Such a lack of transparency is evidence of a scam.

Conclusion

On the surface of it, OneProGlobal appears to be a legitimate broker – it has provided seemly genuine licensing information, it has the MT4 platform on offer, and its spreads and minimum deposit are pretty decent by industry standards. It’s only when you dig deeper that you realize that it’s all a set-up. The licensing information is all lies, and you will not be able to register for an account without you first giving out your personal information. This is a scam, and it would be best if you stayed away from OneProGlobal.

OneProGlobal

2.6

User Experience

3.3/10

Payment Options

2.0/10

Security

2.5/10

Support

2.8/10

Reputation

2.2/10

Pros

• None

Cons

• Lies About Regulation
• No Demo Account/Inactive MT4 Account
• Very High Leverage
• Vague Terms and Conditions