OscarFT: customer reviews about the company’s work in 2023
Scammers always promise super-profitable solutions and help in multiplying capital, counting on the gullibility of newcomers. Such scam projects work for a short time, but manage to deceive a large number of people. Today we will talk about one of such pseudo-brokers – OscarFT. You will learn about the legal documents of this company, and what reviews real users leave.
Key Information
OscarFT claims to have been operating since 1998, but does not provide a roadmap for users to familiarize themselves with the company’s history and understand if the intermediary can be trusted. However, this information can be easily verified through the specialized service whois. The website oskarft.com was registered at the end of May 2023. This explains why there are no reviews about the broker yet.
A constructive dialogue with the company is impossible. The email turned out to be fake upon verification, as well as the office address in Switzerland.
As for the phone number provided by OscarFT, it also appears on platforms such as Investgeo, Finupcorp, FINM Drive. There are plenty of negative reviews about these pseudo-intermediaries, as they have deceived a large number of people.
Legal Information
OskarFT claims to have contracts with well-known liquidity providers (AgBank Agricultural Bank of China, ICBC, UBS Group AG, etc.). According to the legend, the agreements were signed back in 2015. However, we know perfectly well that this is a blatant lie, as the hero of our review did not exist at that time.
OscarFT claims to be registered in Switzerland and regulated by a British supervisory authority.
Even a scan copy of the license is available on the platform. However, its authenticity immediately raised doubts for us, and as the check showed, it was justified. The hero of our review did not receive permission, and such a company was not found in the FCA registry. The broker posted a fake document on its website.
Earning Conditions
Do not even count on making money with OskarFT. This scam did not provide a demo account for risk-free trades. The following features of the commercial offer are known:
- 200+ trading instruments,
- no commissions for deposit replenishment and profit withdrawal,
- spreads from 0.6 pips,
- bonuses and rewards up to 150%,
- available instruments include currency pairs, stocks, indices, cryptocurrencies, metals, energy carriers,
- proprietary terminal,
- 4 tariff plans (entry threshold in Standart by agreement, in more profitable tariffs – from $10,000),
- services of personal analytics, training,
- in some account types, they additionally offer a trading plan, development of a personal strategy, demonstration of real-time trading, etc.,
Reviews confirming the possibility of withdrawing funds from the platform are absent. The pseudo-broker did not even specify the payment regulations and available payment methods. All that’s left is to guess.
What about the reviews?
At the time of preparing the comprehensive review, there are no real customer reviews about OscarFT. Such silence is beneficial for scammers, as it allows them to deceive potential victims without hindrance. However, there is no shortage of negativity about their predecessors:
Do you want to share your experience of trading on the OscarFT platform? Leave reviews under our article so that others know the truth and can avoid participating in the scam.
Scam Algorithm
Novices find OscarFT’s offer of professional support attractive. After registration, the user gets a mentor who is supposed to provide competent trading recommendations and assist in making profitable trades. However, as soon as the trader trusts their mentor, the deposit starts draining. The trader may try to recover the funds, but ultimately will only lose more.
Scammers from OscarFT may attempt a double scam. They will call the deceived trader from fake numbers and offer chargeback services. However, as soon as an advance payment for the refund is made, the scammers will disappear forever.
Final Word
Dealing with scammers like OscarFT can lead to a complete loss of capital. They will simulate trading to keep their financial scam secret for as long as possible. These fraudsters will bid you farewell in English as soon as your wallet empties. Be cautious and do not let yourself be deceived.
I have had an extremely disappointing experience with OscarFT. While the company claims to offer a highly sophisticated and user-friendly trading platform, the stark reality signified the complete opposite. The platform frequently crashed, causing me to miss out on critical trading opportunities. Adding to this, the customer service was close to lousy. My queries and concerns were seldom addressed promptly, leaving me in the lurch on many occasions. The lack of transparency with fees was also entirely unprofessional. With hidden charges cropping up often without prior intimation, I ended up having to pay much more than what was initially agreed upon. Trust me, trading with OscarFT in 2023 was nothing short of a distressing and frustrating experience. I regret my decision to choose them as my broker and strongly advise against it.