Note: OP Trust' official website: https://op-trust.com/ is currently inaccessible normally.
OP Trust Information
OP Trust is a brokerage company in Switzerland with minimum deposti requirement of $150. however, its website is currently unavailable. Since there are very limited information over the Internet as well, we are not sure if the company already ceased business. Moreover, the absence of regulation further exacerbates its credibility and legality.
Is OP Trust Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
Downsides of OP Trust
Unavailable website: OP Trust' website cannot be opened currently.
Regulatory concerns: The company operates without any regulations, meanig that it does not comply to rules from any regulatory authorities. This heightens trading risks with them.
Lack of transparency: The broker does not openly reveal trading conditions such as account details, spread, commission, market instruments etc.
High minimum deposit: OP Trust requires a high minimum deposit of $100, higher than industry average which usually stands below $100. This will hinder beginners who need to start small first.
Account Types
The only information we can get from the Internet is that OP Trust requires a minimum deposit of $150, which is a little higher comparing to trustable brokers who usually requires minimum investment under $100. Other key info like account types, spread, commission or minimum trade size are not available.
Leverage
Leverage allows traders to control larger positions with small initial capitals. With OP Trust, leverage is said to be up to 1:500.
As always, leverage is suggested to be used prudently due to amplified gains as well as losses and risks at the same time.
Trading Platform
Per tester record, Op-Trust offers a highly suspicious webtrader showing only one price at a time, which is abnormal and skeptical of price manipulations.
Deposit & Withdrawal
The broker only accepts Bitcoin deposit, which is the typical scam broker trick because refund is impossible due to anonymous nature of crypto payments.
Conclusion
To sum up, OP Trust is a highly scam broker for several reasons. Firstly, it's not regulated by any authorities, which indicates less compliance to financial rules and customer protections. In addition, the broker only accepts Bitcoin as funding method, high chance that traders cannot get their money back due to anonymous nature of crypto payments. Furthermore, limited transparency, lousy web-based trading platform and failure in maintaining functional website makes it a extremely unreliable and untrustworthy company.
Never get involved with such possible scam brokers to protect your hard-earned money.
