Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) has been flagged by ASIC (Australia) for "Unlicensed". Addresses: Mandai Connection, 7 Mandai Link, Postal 728653, #04-13, Bedourie QLD 4829, Australia This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: oceanwellsreturns.com.
My withdrawal from Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since the beginning of the year of being strung along.
Pros: Educational resources|Two-factor authentication|Clean UI
Cons: Minor UI glitches occasionally
Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Low minimum deposit|Transparent fees|Multi-currency support
Cons: Spreads widen during volatile periods
I signed up with Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) through word of mouth in my investment club and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Wide product range|Portfolio tracking tools|Low minimum deposit|Quick verification
Cons: Limited ETF selection
KYC with Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Clear documentation|Fast support response|Social trading features|Dividend tracking
Cons: No dark mode on mobile|Desktop app not available on Linux
I had high hopes for Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) through my accountant's suggestion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Great customer service|Quick verification|Responsive team
Cons: Charting tools need more indicators
Customer support at Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Economic calendar|Dividend tracking|Personal attention|Demo account available
Cons: Slow to add new assets
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Copy trading available|Segregated accounts|Professional team
Cons: Currency conversion fee exists|Slow to add new assets
Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Great customer service|Risk management tools|Detailed reporting|Portfolio tracking tools
Cons: Wish they had more educational resources
Do not be fooled by the professional-looking website. Behind the scenes, Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) is disorganized and incompetent. I found them from a review site like this one and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Multi-currency support|Excellent charting|Automated trading options
Cons: No dark mode on mobile
Ocean Wells Returns and Advisory Services Limited (oceanwellsreturns.com) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Clear documentation|Risk management tools|Multiple order types|No hidden fees
Cons: Wait times can be long during peak hours|Some tools only available on higher tiers