Read our OceanFx review to see if we recommend this broker for trading. Just to clear doubts, this is an oceanfx.io review.
Is OceanFx Legit?
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 infamous for scamming schemes.
So, OceanFx is just another unregulated forex broker, which means the customers aren’t 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try 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, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good OceanFx reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.
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 doesn’t 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 OceanFx?
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 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 they deceived you into depositing money for a non-regulated trading company. Mention also that 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 [email protected] but don’t let your broker know they you read this article or that you are contacting 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 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 where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. 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 don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave OceanFx reviews in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about OceanFx, 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, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
OceanFx Review Conclusions
Making the OceanFx review was our pleasure, and we hope to save as many people 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 OceanFx 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] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
OK I opened an account with Oceanfxio a few months back through a site on fb claiming u could earn about $$750-$1700 a day with that amount I can’t remember exactly what amount as there were so many of these sites coming up on Facebook some with news readers in the adds to make it more believable. But it was enough to make me think that would be so good and that could be my full time job. As everyone is finding things hard with everything happening in the world now. The girl was lovely but that’s how they are supposed to come across helpful reassuring and everything else.. where as in reality they don’t care where you get it from who you are or how hard life is for you as long as they draw people into their payday.. So yes I sent through $250US like a fool. They then get you to download an app called anydesk.. with this app they are able to see everything on your screen to help you do things which means they have access to all the personal information on your phone accounts passwords everything that made me feel very uncomfortable she said that’s OK you can try and work it out yourself. So we carried on. But once that happens you start receiving calls from all over the world…Then she said something about an offèr coming up with Amazon that could make you alot of Money if you want to the price was $1400US to be able to do it. She said she has to go through and offer these things to aĺl clients incase they are interested. They will even offer you the money from them to use so it just goes back to them from your accoun after the money is made. But I didn’t feel comfortable with that but it made me feel a little more c tru as trust. I did say I didn’t hv that type of money and it wasn’t true with the advert about the amount if you paid the first amount of $250US you could make all of this money each day..she said that was for people that had alot of money invested. Theres always an answer for everything. So I scrimped and scrapped and borrowed until I could get this amount requested and yes the money went up all I could do was log in and look at how much was in there each time. It won’t let you withdraw or deposit. You have to ring if you want to deposit. I questioned this so she took me through to Binance another app they get you to download and there was so much to it I would never be able to remember. But you aren’t allowed to deposit or withdraw without them.
I was made to believe that yes this could be my full time job.
Then after a few weeks of speaking to the same girl each day at the same time. I didn’t hear from her for a couple of days sobi rang and they did sh was off sick..and wanted to know if I wanted to speak to someone else..I said no I’ll wait until she gets back thanks. A couple of weeks later a man calls me and said I could speak to him about anything I want to know from now on.
Which is where things get dark the money had gone up..so I wantedvto make a withdrawal and leave the amount in there that I started off with..I had emailed him about this request as they mak we you feel a bit strange for asking. But I had nothing and wanted to withdraw a cert as in amount. He called me 2 days later telling me e had received my email. And to withdraw $2000US it would cost me around $240 in tax..I didn’t know but it didn’t sound right which I told him and also said I’ll have to get back to you when I hv the money. And can’t you just take it out of what’s already in there e said no we don’t do it like that. You have to pay the money up front and then we can send u the money that didn’t sound right either.During that time I looked up on the net to find out about taxes and trading and found what I was looking for some of it ..one company was offering to pay your taxes as u go. So I emailed him back didn’t get an answer so spoke to him on the phone saying OK so u guys pay any tax I owe with the money I make and I get a written report to show the tax department when the time comes. He said yes that’s right. Oh plus as soon as I asked the money jumped up $4000US extra? So I said OK I would like to withdraw the amount of $2500 I had asked for and keep the rest in there to continue making money and just withdraw every now and again so I only hv to pay them about $150 each time he said no we usually as lay just do it a one time payment and then told me that $250 I would only be able to withdraw $1000US. So I am being lied to and I really don’t know what to do about getting my money back from them can you please help. I will contact the bank with what I have written here and see what can be done. The money used was from my father’s funeral insurance as I could get over to his funeral in 2020 as his wife wouldn’t send me my father’s death certificate. So now I have to try and get it back so it’s back in his account as all b I could do is buy a memorial thing for him over ere and was planning on getting him a memorial stone with it. Please help thankyou. I just want my money back..allvthey are doing is using your money to make money for themselves which is c terrible. Thankyou for your time.