ONTraders Review – Lies About Regulation As The Key Problem

ONTraders brokerage claims to be fully regulated by multiple trusted authorities. Thus, the company doesn’t reveal any ownership, address, or contact information whatsoever.

In general, these things don’t add up. Therefore, we are doing a detailed analysis of their statements to help you understand their goals. But after you read this honest ONTraders review, you won’t be depositing with them for sure.

Broker status:	Unregulated broker
Regulated by:	No regulations
Operating Status:	Active FX and CFD trading scam
Known Websites:	https://ontraders.com/
Blacklisted by:	BaFin
Owner:	N/A
Headquarters Country:	N/A
Foundation Year:	2023
Online Trading Platforms:	Web-based
Mobile Trading:	Not available
Minimum Deposit:	$250
Deposit Bonus:	N/A
CFD Trading Option:	Yes
Crypto Asset Trading:	Yes – BTC, ETH, XRP
Available Trading Instruments:	Forex, stocks, cryptos, commodities, indices
Maximum Leverage:	N/A
Islamic Account:	Not available
Free Demo Account:	Not available
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	Our verdict matches the BaFin warning and you should stay away from this brokerage. In case you already deposited money with them, request a withdrawal as soon as possible. But if that doesn’t help, contact us for refund options.

Is ONTraders Legit or a Scam?

As can be seen, the company claims to have licenses from FCA, CONSOB, and CySEC. All these are reputable regulators in Europe. Thus, none of these would provide a license to such a non-transparent investment company.

In any case, we checked all registers, and none of them hold any records of ONTraders regulation. Therefore, you can consider all the company’s statements a bogus lie. The proof of that can be found in a warning issued by German BaFin. That’s a cherry on top.

Traders’ Experience With ONTraders

Even though there are only two ONTraders reviews on Trustpilot, it’s enough for guidance. Since the company is freshly registered, we have no doubt there will be more negative comments.

In any case, with unregulated brokers, you never know what will happen tomorrow. That’s why we suggest you stick only with licensed ones. Bear in mind that XBitcoin AI is not one of those. After all, if you get scammed by any firm, reach out to our refund experts for consultation.

How Does ONTraders Work?

The main goal of ONTraders broker is to make itself appear legitimate. That’s why they serve inexperienced traders with lies about regulations. But once you learn where to look, you can easily avoid those traps.

With numerous hidden conditions, shady platforms, and unclear fee structures, traders are easily manipulated to deposit more money. Thus, when they want to withdraw it, unexpected problems occur. If you have ever been in such a situation, don’t hesitate to reach out.

Who Are ONTraders Victims?

Generally, the company doesn’t allow US citizens to register accounts with them. That’s their only limitation. Most of the victims this company has come from:

• Germany
• Greece
• Brazil

It’s not surprising that BaFin already protected its citizens. Thus, these swindlers know numerous ways to extort clients’ money. That’s why we suggest you check some tips in our Altcoin PRO Wealth review. But also to contact us if you need any urgent advice.

What Are Trading Platforms Available?

One of the biggest disadvantages of the ONTraders scam broker is their web-based trading platform. Even though they present it as simple, powerful, and intuitive, that doesn’t mean anything.

After all, this platform doesn’t offer copy trading, algo trading, or any advanced features. On top of that, agents can easily modify the data without traders realizing it.

Is the ONTraders Mobile Trading App Available?

According to the website, the mobile app is available. However, that’s just another misleading detail this broker is using. You just have to check the iOS and Android stores, and you will find out they don’t have any apps.

What Financial Instruments Does The Platform Include?

Generally, instrument availability can play a huge role in choosing a broker. Yet, ONTraders regulation makes everyone question everything about this firm. Even their tradeable instruments. Since free access to the platform is not granted, we can assume they offer:

• Forex – GBP/EUR, EUR/NOK
• Commodities – natural gas, palladium
• Shares – American Airlines, General Motors
• Indices – FTSE100, ASX200
• Cryptos – ETH, USDT

Account Types Offered by ONTraders

Another key fact is that ONTraders account types don’t reveal much. The only thing you get is potentially lower spread and commission. Of course, only when you deposit more money. The options are:

• Entry – $250
• Standard – $2.500
• Premium – $25.000
• Gold – $100.000
• VIP – $250.000

Can a Trader Use an ONTraders Demo Account?

The minimum deposit requirement is generally not high. But when traders see regulated brokers offering to start with $10, they are wondering who is silly there. Knowing this, we should expect a demo account availability. Yet, there’s no such option available with this scam brokerage.

ONTraders Fees, Spreads, Leverage and Commission

A minimum spread on entry-level starts from 2.2 pips. It’s quite high compared to the industry average of 1.5 pips. Commissions are reasonably low at $1 per lot traded. However, other charges might be included. Thus, those are not précised.

The biggest issue with this firm is unknown leverage. They are probably hiding it to cover their lies about regulation. Keep in mind that anything higher than 1:30 in Europe for retail traders is not acceptable.

Is the ONTraders Welcome Bonus Available?

Since the company doesn’t have transparent T&Cs or bonus policy, we don’t have proof of bonus offers. Generally, it’s a standard trick to extort more money from customers. That’s why reading policies is important.

Is ONTraders Withdrawal Possible?

After a warning from BaFin, you definitely know withdrawals are not possible, even though they claim to provide instant and fast payouts. Processing time the broker presents is up to 5 business days. Fees are mainly variable, but for card transfers, they are 3%. Yet, you can expect unexpected expenses the whole time.

What Should I Do If I Have an ONTraders Problem?

Reporting a broker to a regulator is the key as can be seen in the example of BaFin. Thus, traders often look only for a way to get their money out. With card transfers, it’s quite easy in the first 540 days upon transaction.

But for some other methods, it’s a bit more complicated. Yet, possible. To see what your options are and get full guidance, contact our refund specialists today.