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OGFX

Australia Australia | 5-10 years |
Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

http://www.ogfx.com.au/

Website

Rating Index

Contact

+61 1300 459 688
http://www.ogfx.com.au/

license Forex License

risk

No forex trading license found. Please be aware of the risks.

Company Profile 4
5-10 years
Questionable Regulatory License
Suspicious Operational Region
High Potential Risk
Verified Site
About Us
Wiki Q&A
Comment

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Official Website

Verified Site

  • ogfx.com.au
    47.52.99.147
    Server Location
    Hong Kong Hong Kong
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    --
    Website Name
    WHOIS.AUDNS.NET.AU
    Company
    AU-NIC

Company Profile

Company Profile

Review summary

Note: OGFX's official website https://www.ogfx.com.au/ is currently inaccessible normally.

OGFXReview Summary
Founded2008
Registered Country/RegionAustralia
RegulationASIC (Suspicious Clone)
Market InstrumentsForex, etc.
Demo Account
LeverageUp to 1:400
EUR/USD SpreadFloating around 0.2 pips
Trading PlatformMT4
Min Deposit$1,000
Customer SupportTel: +61 1300 459 688
Email: service@ogfx.com.au
QQ: 00188484

OGFX is a financial company registered in Australia. It offers two types of accounts, and the leverage can be up to 1:400. The minimum deposit is relatively high, which is 1,000 dollars. What's more, its regulatory license is suspiciously cloned.

Pros and Cons

Pros Cons
MT4 providedInaccessible official website
Demo accounts availableSuspicious clone ASIC license
Tight EUR/USD spreadHigh minimum deposit

Is OGFX Legit?

Investors should exercise caution when dealing with KOSEI Securities as there are red flags regarding the legitimacy of their regulatory claims. The Australian Securities and Investments Commission (ASIC) license number provided by the broker (License Type: Investment Advisory License license number: 332890) is suspected to be a clone. This poses a significant risk to investors who may unknowingly trust the legitimacy of the broker based on false regulatory credentials.

Regulatory AuthorityAustralia Securities & Investment Commission (ASIC)
Regulatory Status Suspicious Clone
Regulated by Australia
Licensed Institution Neptune Securities LTD
Licensed TypeInvestment Advisory License
Licensed Number332890
Suspicious clone ASIC license

Furthermore, the inaccessibility of their official website adds another layer of concern regarding the reliability and transparency of their trading platform. A reputable and trustworthy broker would typically have a user-friendly website that is easily accessible to clients for account management and trading purposes.

Besides, this OGFX is a clone broker posing as a legit one to misunderstand people, and it has nothing to do with another Ocean Global Markets (short for OGFX). Please be aware of the potential scam.

These warning signs should not be taken lightly, as they suggest a higher level of risk associated with investing in OGFX.

WikiFX Field Survey

WikiFX field survey team paid a visit to this OGFX‘s official address at Suite 706, 1-5 Railway Street, CHATSWOOD, NSW 2067. However, the team confirmed that the broker OGFX’s real address is not consistent with its regulatory address.

WikiFX Field Survey

Account Type

OGFX offers 2 types of accounts: Standard, and Pro. Free demo accounts are also available.

Account TypeMin Deposit
Standard$1,000
Pro$50,000

Leverage

For both accounts, the leverage can be up to 1:400. High leverage may bring potential risks, so careful considerations are needed.

OGFX Fees

The EUR/USD spread is floating around 0.2 pips. The commission fee is $18, and swap fees are not needed.

MT4

Trading Platform

OGFX provides its clients with access to the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features.

One of the standout features of MT4 is its support for automated trading through Expert Advisors (EAs). This feature enables traders to automate their trading strategies and execute trades based on predefined rules and parameters. Moreover, MT4 provides real-time quotes, news updates, and customizable alerts.

Trading PlatformSupported Available Devices Suitable for
MT4Web, desktop, mobileBeginners
MT5/Experienced traders

Company Profile

  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

How is the fund security of OGFX evaluated?

OGFX presents a high-risk profile for client funds. According to WikiFX data, it operates under an unverified Australian license and lacks authoritative oversight, which means client fund security is not protected by any verified compensation scheme. The entity's core risk score is 1.62.

04-02
United States

What is the current regulatory status of OGFX?

OGFX, operating as OCEAN GLOBAL MARKETS LTD, is not a verified regulated broker. While it is registered in Australia and has an ASIC license number listed, this license status is officially 'Unverified'. The WikiFX assessment indicates it operates without any valid, mainstream financial regulatory authorization.

04-02
United States

When was OGFX established?

OGFX has been operating for 5 to 10 years, indicating it is not a new market entrant but an entity with an established operational history. The company is registered in Australia.

04-02
United States

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

04-02
United States

What factors should I consider when choosing a safe forex broker?

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

04-02
United States

What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

04-02
United States

How can I determine if a forex broker is regulated?

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

04-02
United States

How can I identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

04-02
United States
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