General Information & Regulation
Oon Fx, a trading name of Oon Softech LLC, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines since 2019 that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and commissions from 0.08%. Here is the home page of this brokers official site:
As for regulation, it has been verified that Oon Fx does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.11/10. Please be aware of the risk.
Market Instruments
Oon Fx advertises that it offers access to a wide range of trading instruments in financial markets, including CFDs on currency pairs, stocks, commodities and more.
Leverage
The leverage provided by Oon Fx is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Commissions
Oon Fx claims that the commission starts from 0.08%.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Oon Fxs official website, we found that this broker seems to accept deposits and withdrawals via MasterCard and Visa. There is no deposit fee charged. More details are not revealed directly on the website in the absence of a login.
Bonuses
Oon Fx claims that if traders open an account, they will get up to $600 plus 60 days of commission-free stocks & forex trades, yet we cannot be sure if the bonus can be withdrawn without any limitation.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Customer Support
Oon Fxs customer support can be reached by telephone: +1-7845597032 (MON - FRI, 9 AM - 5 PM), email: support@oonfx.com, live chat or send messages online to get in touch. Company address: Suite 305, Griffith Corporate Center Beachmont, Kingstown, St.Vincent and Grenadines.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
