Read our Oasiscapitaltrade review to see if this broker is a scam or legit. Just to clear doubts, this is a oasiscapitaltrade.com review.
With the financial markets filled to the brim with opportunities, there has been a huge influx of people. As there are no such barriers to entry, they have become very attractive for people who want to make quick returns and do not want to have their capital blocked for the long-term.
The process itself is very straightforward, as you just need to sign up with an online broker to begin. But, you have to remember that choosing an online broker is not that simple. This Oasiscapitaltrade review shows that appearances can be quite deceiving.
Opting for a random broker, without any homework or research, can have disastrous consequences. This is because there are shady and fraudulent brokers that are also operating in the market and they are looking for just the opportunity to exploit people. Unless you want to end up the same, it is best for you to dig deep into a company before deciding to trust them. Bear in mind that you should never take them at their word.
No matter how popular or renowned a platform may be, you have to consider your own needs and priorities in order to find the best fit. This is because no company is going to tell you about its own shortcomings, which can become a problem later on. You want to opt for a broker that you can depend on and can offer you professional and reliable services throughout your trading journey. Yes, such companies do exist, but you have to make an effort to find them.
The sheer number of options can make this a challenge, so you have to be very careful. When you come across Oasiscapitaltrade, you will find that it claims to be a forex and CFD provider. But, is this the truth? When you dig beneath the surface, you will find some surprises. What are they? Check them out below.
False licensing and regulation claims
The licensing and regulation of a broker is something that can help breed trust because such companies can be held accountable and offer transparent and fair services to their clients. They have to maintain certain standards and can also offer safety. Since Oasiscapitaltrade claims to be licensed and regulated, many people will be drawn to the brokerage.
After all, it claims to be regulated by two of the top regulatory authorities in the world. According to Oasiscapitaltrade, it is licensed and regulated by the Financial Conduct Authority (FCA) of the UK and the Cyprus Securities and Exchange Commission (CySEC). This is going to impressive everyone, but it is only a claim until you verify it.
You will not find a license number posted on the Oasiscapitaltrade website for either regulatory body, and this should be the first warning sign. In addition, it also contradicts the rules of the FCA when it comes to offering crypto CFDs. A little digging reveals that Oasiscapitaltrade is actually based in the Commonwealth of Dominica, which is known to be a scam haven.
This is offshore jurisdiction that does not regulate its forex industry, so scammers can easily set up their operations without worrying about any accountability.
No trading platform
The trading platform offered by an online broker is its most important feature because it is used for executing trades in the financial markets and provides tools that come in handy for making decisions.
While different types of trading platforms exist, there are some that have become more renowned than others because of their technology and tools. One of these is the MT4 platform, which is considered industry standard, and one that Oasiscapitaltrade claims to offer.
However, when you actually check the trading platform at Oasiscapitaltrade, you will discover that this is just a mere claim. There is no MT4 available and what they do have cannot even be called a web-based platform.
There is no option of trading and traders can only find a chart that allows them to track the prices of several assets and nothing more. This means that there can be no trading whatsoever at Oasiscapitaltrade and this defeats the purpose of a brokerage completely.
No trading conditions
Why are trading conditions important? Trading conditions refer to the spreads and commissions that a broker charges, which are important because they affect the profits you make during trading. They also include leverage, which affects your flexibility of trading. Therefore, it is recommended that you check what kind of trading conditions are offered by a broker.
Of course, every company will claim to offer you good trading conditions, but the definition can vary for everyone. The same is done by Oasiscapitaltrade, but you have to remember that their claim does not matter because the brokerage does not have a trading platform at all. Hence, no matter how good the trading conditions may be, they do not make a difference because you cannot do any trading.
Only Bitcoin deposits
Cryptocurrencies have become quite popular these days and are considered the next big thing. People are now using cryptocurrencies like bitcoin for payment purposes, so many brokers have also added them in their list of payment methods. There is no harm in doing so, as long as it is not the only payment option.
This is because crypto payments tend to be irreversible; once they have been made, they are final and can only be reversed if the recipient decides to send them back.
Otherwise, you will not see your funds again. Moreover, these payments also offer anonymity to people because you only have a wallet address and no other details. This is the reason why it has become a favorite of scammers and Oasiscapitaltrade only offers you bitcoin payments.
It means that once you deposit your money, you cannot file for a chargeback and get a refund in case of a problem. Payment options like credit cards give you this facility, but bitcoin and other crypto payments do not.
Final Decision
Considering the many flaws that you discover in Oasiscapitaltrade, it is best for you to not opt for this broker.
