Why is this scam
OEXgroup is named as a scammer. The Comisión Nacional del Mercado de Valores (CNMV), the financial regulatory body of Spain, warned investors against being offered products and services from OEXgroup, unregistered company that is illegally conducting financial services targeting this country’s residents.
Financial Authorities have issued a public warning and consumer alert against OEXgroup and Global Investor Alerts received information that OEXgroup is cold – calling potential investors offering unauthorized or illegal financial services. It is strongly advised not to use the financial service of this platform, nor the financial supporting services of its affiliates (transfer agents, escrow agents, etc), or to pay any money to the companies it designates for settlement.
Let’s see the other signs.
The Comision Nacional del Mercado de Valores (CNMV) previously announced the upping of measures in its battle against firms running scam operations.
The CNMV recently announced its having set new regulatory rules in order to protect customers, regarding trading costs, risks disclosure, leverage and advertising requirements. These guidelines concern online trading companies involved in forex, binary options, and contracts for difference (CFDs).
In essence, the Spanish regulator requires firms to have full transparency with their clients regarding the actual costs and risks involved with their platforms.
OEXgroup is Forex broker and binary options. The broker is based in London, United Kingdom. The broker, at least apparently, is not regulated.
The signs of confirmation
We want to emphasize that the information provided on their website is minimal, very little, which is very unusual. So, we can’t analyze the different types of accounts, because in this case, that type of information is not provided on the broker’s website. On the website they mention having a platform to operate effectively and efficiently, but it does not mention the name of the platform. In this case, we assume that it is their own platform.
OEXGroup broker have a financial news section, with recent and relevant news from the financial world. OEXGroup does not provide any other type of resources or aid for investors.
True is we couldn’t find enough information about the OEXGroup broker, but it has to be taken carefully. Why? We have not received or found negative or positive comments about the broker on the internet, the broker is not regulated, and it was impossible for us to find information about the company in any another site that is not their website, which is never good.
Recommendation – As we said, be careful. They are new as we can see and still not regulated.