Op-Trust.com – Can You Really Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Markets F1 - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://op-trust.com
Founded: 2018
Regulations: N/A
Languages: English, Russian, Spanish, Italian, Dutch, French, Chinese
Deposit Methods: Bitcoin
Minimum Deposit: $1000
Free Demo Account: N/A
Number of Assets: 6
Types of Assets: Currencies, Metal, Stocks, Commodities, Indices, Cryptocurrencies
The world is being swept by digitalization. With the advancement of new technology, everyone can trade in financial markets, even if they don’t have a lot of money or savings. Opening a genuine trading account and using a trading terminal with several analytical and forecasting instruments takes only a few minutes.
This is what Op-Trust claims to offer for users, read on to find out if they’re telling the truth or just spouting lies.
Trading Accounts and Conditions
The Swiss financial authority, FINMA, has banned OP-Trust as a fraud broker. The footer of OP-Trust’s website states that the broker is based in Switzerland, but that it is regulated by CySEC in Cyprus, the FSC of Mauritius, and the IFSC of Belize.
We can tell you that all of these statements are bogus – the broker is so murky that it doesn’t even bother to provide the public a name. To earn the trust of their victims, brokers like OP-Trust position themselves as legitimate and recognized businesses. So our best advice is to avoid OP-Trust and similar companies and only deal with brokers that are regulated by reputable financial agencies such as CySEC or the UK’s FCA, who must satisfy a comprehensive list of conditions to protect traders from falling victim to a scam.
The broker offers three different types of account types: Basic, Advanced, and Professional. Only the Basic accounts provide a deposit fee which is $1000, that alone is reason enough to not invest in this scam of a broker.
Trust-Op.com – Advantages
As long as a broker is unregulated and/or unlicensed there can be no advantages in investing any money in this online scam broker. Don’t invest any money into this broker, you will lose a lot more money than make any money.
Trust-Op.com – Disadvantages
Exposed as a Fraud
Op-Trust is a well-known scam; the Swiss regulator FINMA issued a warning against the brokerage, exposing it as fake, so you can be sure that if you deposit, you’ll lose money to fraud. Even if regulators did not ban Op-Trust, we could rapidly demonstrate that it is a complete fraud. Let’s get to the bottom of this now.
It claims to be regulated under the number 554/38 by the Cypriot regulator CySEC. Because such a number does not exist in the authority’s database, Op-Trust tries to provide a false sense of security by pretending to be regulated. The deceptive assertions featured in the website footer immediately demonstrate that Op-Trust is nothing more than a con.
The Forex regulation ensures transparency, ethical business practices, and client money’ protection, as well as making it exceedingly difficult and expensive for fraudulent operations to operate lawfully. Not to add that the local Forex market is rigorously regulated by each reputable financial institution, thus brokers that operate without a license are deemed unlawful. As you might expect, because Op-Trust is anonymous and unaccountable, the brokerage may put clients’ money in danger or steal it outright and get away with it.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Trading Software Shows Only One Price at a TIme
Op-Trust advertises amazing trading tools, but what it actually offers is a questionable Webtrader that only shows one price at a time. This leads us to conclude that price manipulation is feasible, as all Forex systems should provide Buy/Sell prices, as there is always a difference between the two.
The Webtrader is far too shady to be considered legitimate, and that alone should be enough to keep you away from the otherwise vulnerable brokerage. Because there is only one quote at a time, we can’t discuss the spread. Op-Trust may modify the rate while switching between the Buy and Sell panels, therefore the real trading costs are unclear. Indeed, we don’t need to look at the spreads because we already know Op-Trust is a fraud.
Because the leverage can reach 1:500, Op-Trust is very dangerous. 1:500 is a risky ratio that, if not handled carefully, may result in significant losses for traders. On top of that, CySEC has already enforced a 1:30 leverage cap, thus the leverage alone demonstrates that Op-Trust is a fraud.
Deposit and Withdrawal Methods Can’t Be Trusted
OP-Trust promotes account levels beginning at $1000, which is a hefty entrance point. Most brokers need a minimum deposit of $100 to $250 for their Standard accounts, while others may allow you to trade with as little as $5 or $10.
OP-Trust exclusively accepts Bitcoin. Keep in mind that fraudsters favor crypto payment methods since they are not refundable or easily traceable.
Conclusion
OP-Trust is a broker that should be avoided at all costs. It lies shamelessly about being regulated while keeping relatively anonymous. Worse, a European financial authority has already placed this unlicensed website on a blacklist.
With an uncovered fraud like OP-Trust, there’s no way to make any money. They will instead earn money off of you and never let you withdraw a single dollar. Remember to only trade with legally authorized brokers because this is the only way to trade forex securely and earn some extra cash. Of course, you’ll need some trade skills as well as a little luck.
If you suspect you’ve been scammed, call your bank to alert them and then deactivate your card to minimize any extra dangers, since the crooks may have gained your personal information. Then contact the police, alert the financial authorities, submit a report, and don’t forget to spread the information online so that others are aware of the fraud as well. Nonetheless, it’s critical not to hurry into attempting to retrieve your payments, since many frauds pose as chargeback agencies in order to double-scam victims.
Op-Trust.com
Pros
- None
Cons
- Exposed as a Fraud
- Trading Software Shows Only One Price at a TIme
- Deposit and Withdrawal Methods Can’t Be Trusted
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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