Onotex Review

Read our Onotex review to see if we recommend this broker for trading. Just to clear doubts, this is a onotex.com review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So Onotex is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.

How does it work?

Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.

Make sure you leave reviews about Onotex in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.

Onotex Review Conclusions

Making the Onotex review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Onotex review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

etoro

14 COMMENTS

  1. i have been scammed by onotex. not real looks like your trading but 100 % not real so watch out people they try anything to get your money

  2. Padraic, have been waiting to withdraw funds from onotex they keep changing the procedure and looking for commission up front before they make transfer to me. They wont deduct from my “funds” ?? Any advice please

  3. I’ve been scammed by Onotex, I’ve lost all my savings and more. They keep insisting I pay an insurance in order for my funds to be released and on top of that conversion fees and raise mirror transactions in order to create liquidity! It’s all a scam and I’ve advised the regulators any other official bodies of this thieving company!

  4. Onotex scammed me 2000 euros and they don’t want to get my money back. They ask me to give 16500 euros because they loan me this amount on the benefits. But I don’t have this amount. And they told me to loan this amount to my bank or my friends

  5. “Daniel my brother”.., thx 4 sending me here.
    Iam not in deep and hope to recover the funds.
    Jennifer was her name who called me first and forwarded me to a “George Salter”. Suspicious name I thought.,, Using whatsapp
    Was weird and getting on the site is sloppy.
    I think I might need help .

  6. Je suis dans le même cas que d’autres.
    Il demande d’être sûr de renvoyer votre argent sur le bon compte, alors que vous evez faire une copie de votre CB. On peut comprendre que le service n’est pas gratuit, mais les frais son exorbitant et impossible à payer. Ne propose pas d’autres moyens pour récupérer votre argent.

  7. Don’t go near them…..total scam,I had someone called Anthony Rykman,sure not his real name,call me constantly trying to explain what they do,but all he was trying to do was to get me to invest more… until I stopped taking any calls of numbers I did not recognize,he was soooo persistent,when I told him it was a scam,he became rude, shouting at me, and abusive!!! I asked to cash in my investment,he tells me it may take a while as he has”orders” placed???? I said cancel them…anyway I have sent numerous emails,no sucess….
    Absolute thieves!!!

  8. Exactly , they are agressive. The man told me after I asked him to replace my investment off 2000 euros that I was a child. How to do ? He didn’t want to give mes my money. He wants me to give him 16500 euros, to win 250000 euros but he is a lier . I know it’s impossible to win this benefits.

  9. Onotex ;;they make me sick,They are scamming money from innocent people ,They have stolen $30,000. then want more moneyfor insurance meanwhile Im suppose to have $243000 eros in my Acct . they can t use what i have in Acct means it is not there . they are kids . And they are so proud of themselfs that they cant be traced . i will find them

  10. Stay away from these scammers. They are criminals who steal money from people who are led to believe they are dealing with a trusted and respected broker agency, which they are not. Before they called themselves Tredexo. Do not invest with these people, they should be put in jail.

    (1/5)

  11. Onotex was liquidated. Somehow my phonenumber has come into the hands of the next scam. A person who tells me she represents the investment police and the Cyprus Securities and Exchange Commission, telling me I can get all of the money back (and even more then what was on my Onotex account). First she made me open a binance account. Then she took over my computer and put a small file on my computer and changed a setting in Chrome. In the end it looked like I had more then 8.000 dollar on my binance account. It was a fixed number wich was in the file she put on my computer.

    • I was also scammed that way. Pretending they from cysec helping you to get your funds back. I had to pay activation fees, insurance fees, bank fees, conversion fees and then taxes. After all of the above I was told I need to pay an additional tax by then I was 500k out of my savings.

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