OMIN FX has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found OMIN FX from a review site like this one and the initial impression was positive. But for about ten months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Demo account available|Low minimum deposit
Cons: No phone support on weekends
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Flagged by international regulators|Due diligence required
Tried to withdraw my funds from OMIN FX and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
After doing some research AFTER the fact (I know, I should have done this first), I discovered that OMIN FX is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I requested my data from OMIN FX under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Clean UI|Wide product range|Reliable uptime
Cons: Currency conversion fee exists|Minimum deposit could be lower
I have been trying to close my account with OMIN FX for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Real-time alerts|Reliable uptime|Copy trading available|Market news feed
Cons: No fractional shares|Slow to add new assets
After seeing ads for OMIN FX online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Comisión Nacional del Mercado de Valores. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
Do not believe the bonus offer from OMIN FX. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited when my bank disappointed me and I searched for alternatives and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Multiple order types|Low minimum deposit|Helpful community forum|Tax reports included
Cons: Onboarding videos are outdated|No phone support on weekends