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Omega Financial LTD Review | A Reliable, Simple and Accessible Entry or Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 2
Omega Financial LTD - logo

If you are a trader looking for a reliable, simple and accessible entry into the world of currency trading, then Omega Financial LTD is ready to offer you its services. However, you shouldn’t rush to open a brokerage account with a company that still needs to be vetted. Despite its stated UK registration, the firm does not hold licenses and requires thorough scrutiny for other potential signs of scams. Moreover, online reviews from experienced users are quite mixed; many criticize and expose this organization, although there are also positive comments. Let’s figure it out.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://www.omegafinancialltd.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit £100
⚖️ Minimum and Maximum Leverage 1:200
⚙️ Trading Platform WebTrader
📨 E-mail support@omega-fin.net, info@omega-fin.net
📞 Phone +442030976565

First Impression of Omegafinancialltd.com

If you’ve visited the official website of Omega Financial LTD and it doesn’t seem familiar or similar to you, then you probably lack experience in trading. Seasoned users will quickly notice the cookie-cutter design and templated elements, features they’ve seen time and again on similar platforms. The standard division of account types into several tiers with increasing minimum deposits, the absence of specific details in both the description of trading conditions and the description of the company’s activities, empty words, and meaningless statements, all of these are characteristic of such a site. In other words, the Omega Financial LTD’s site is riddled with empty verbiage and ambiguous statements, which should raise red flags for potential traders.

Omega Financial LTD - site

The website design employs a basic palette of purple and white, coming across as uninspired and lacking stylistic flair. The only visual highlight is an introductory video on the homepage, followed by text blocks where over 90% of the information seems meaningless. Interestingly, the site offers support in only one language besides English, which is Russian, despite claiming to provide customer service in 20 different languages. This discrepancy raises questions. Omega Financial LTD hasn’t invested much effort into its web presence. The result is a cheap, templated site, but no errors or typos in the text were found.

Partnership and Bonuses

Omega Financial LTD has an affiliate program, which implies an opportunity to earn extra money by inviting other people to the company. The advantages of the partnership program include competitive commission structures, transparent and flexible payment solutions, 24/7 access to the partner portal, marketing materials, support, and comprehensive statistics.

You can activate a deposit bonus from Omega Financial LTD, but this feature is limited to those who can afford to deposit £100,000, or more. Bonus amounts vary between 50% and 70% of the deposit. It’s important to note that while these bonuses can significantly boost your account balance, they also come with certain stipulations. Without fulfilling these obligations, companies often do not allow the withdrawal of funds. The conditions are usually set so stringently, and even seasoned traders may find them challenging to fulfill.

Account Opening on Omegafinancialltd.com

Creating an account with Omega Financial LTD is nothing complicated. The client is asked to specify personal data: first and last name, phone number, country, e-mail, password, and account type. It is possible to specify a promo code, if available, and at the end agree to the trading conditions.

Registration

Once you register, you gain access to a personal account without needing to confirm your email address or phone number. Why Omega Financial LTD does not require confirmation of the provided data, we do not know, but we consider this a serious security flaw.

The interface for the broker’s dashboard is simple and user-friendly. Traders can update personal information, upload KYC documents, use webtrader, manage their finances, track trading history, and view stats on their referral program. However, Omega Financial LTD lacks a demo mode, making it impossible to test the trading terminal’s features without investing real funds.

Omega Financial LTD - account

Verification

It’s impossible to deposit and then withdraw money without a verification. Omega Financial LTD mandates standard KYC documentation, including proof of identity, proof of address, and card confirmation. If you choose to use a card as your deposit method, you’ll need to provide card confirmation. It entails uploading a photo of the card, with most numbers concealed, revealing only the first 6 and last 4 digits, as well as the cardholder’s name, expiration date, and signature. All required documents can be uploaded via the dedicated section within your personal account.

Pros
  • It’s convenient to upload documents.
Cons
  • They require you to take a picture of your bank card.

Trading Software

Omega Financial LTD claims its trading terminal to be user-friendly and packed with various tools and options, including technical analysis, indicators, market and limit orders, an extensive charting package, one-click execution, multiple timeframes, and favorite asset lists. While the platform does offer basic functionalities, they are notably restricted. For novice traders, these limitations might not be an immediate concern, but as one progresses, the absence of more advanced features, such as market depth, custom indicators, and open interest, could become hindrances. Additionally, Omega Financial LTD’s platform lacks other significant capabilities like auto trading, copy trading, and the option to upload custom indicators and settings.

Platform

Omega Financial LTD offers its trading platform solely in a webtrader format, lacking any mobile or desktop applications. Web-based platforms often underperform compared to their desktop counterparts. Users frequently encounter issues like freezing and are compelled to refresh browser pages, which continuously puts a constant load on the operating system. One wonders why the broker doesn’t offer an alternative, such as the widely-used MetaTrader platform. It appears that client convenience is not a priority for the company.

Features Omega Financial LTD XFortunes FxPro
Demo Account ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With Omega Financial LTD?

Omega Financial LTD is a broker offering CFD trading with 1:200 leverage. The minimum deposit size is £100, and there are five types of accounts. Depending on which tariff a trader activates, the company will provide additional services.

All Info About Accounts

Beginners are offered a tariff with the characteristic name “Beginner”. This account type includes 9 major currencies, more than 25 instruments, a personal account manager, 3 insured trades, and a choice of spread type (fixed/flexible). The second type of account, which already requires £2,500, includes additional lending, 4 insured trades, and more than 50 instruments. Further, the minimum limits are higher and higher, additional services are wider and wider: account insurance, mentor training program, micro-lot trading, group of signals, personal analyst, and bonuses. Omega Financial LTD does not disclose the details of each service.

Account types

Upon closely examining each service offered by Omega Financial LTD, it becomes clear, there are more questions than answers. For instance, why does the firm restrict beginners from trading a broader range of assets unless they deposit £200,000? This limitation seems unnecessarily restrictive. Additionally, what terms govern the provision of insured trades and company lending? These options aren’t offered without conditions. Why is micro-lot trading, an essential feature for many, particularly newcomers, only available with a £20,000 deposit? What about details like trading signals, their historical performance, or win rates? Which organization provides the insurance? As is evident, a multitude of questions surround Omega Financial LTD.

It’s noteworthy, the exact size of the spreads is not mentioned anywhere. Commissions and leverage are also hidden. One can only discover the leverage rate within the trading platform and become aware of commissions during the execution of the first trade. The firm also seems unaware of what an Islamic account is.

Pros
  • None.
Cons
  • Ridiculous and pointless restrictions on traders.
  • Lack of specific information about the size of commissions and spreads.
  • Lack of Islamic and demo accounts.

Market Analysis and Education With Omegafinancialltd.com

Omega Financial LTD offers clients real-time learning, comprehensive analysis, and daily webinars. Additionally, a news feed and basic information about asset classes are available. There are no other auxiliary services. Quite a sparse set, for example, there is no economic calendar, market widgets, stock exchange hours, or other tools.

Deposit, Withdrawal, and Fees

Depositing and withdrawing funds at Omega Financial LTD can be accomplished via credit/debit cards, SEPA transfers, or cryptocurrency. While depositing is commission-free, clients are required to pay bank fees when making withdrawals. Both processes necessitate the submission of a request form, following which a company representative should contact the client.

Features Omega Financial LTD Oanda AI Global Group
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

There are several ways to contact the representatives of Omega Financial LTD. These include phone, two emails, as well as creating a feedback request through a special form. Checking the contact information showed nothing, the phone and email exist, and the Internet shows their belonging only to this broker.

However, the firm made a mistake with the address listed in the “contacts” section. According to the London address, Google shows two other companies, one of which is strikingly similar to Omega Financial LTD.

Pros
  • There is a phone number and two emails.
Cons
  • Mass office address.

Is Omega Financial LTD Dangerous?

So, at the moment, Omega Financial LTD raises several red flags. Firstly, its website is cookie-cutter and resembles many we’ve seen before. Secondly, the trading conditions are neither transparent nor favorable, with 50% of the details being hidden. Thirdly, the trading platform is basic, offering neither mobile versions nor a demo account. These issues suggest that the firm’s management didn’t invest sufficient effort into establishing a quality brokerage service. It appears that the broker was hastily set up for a quick launch. We will delve into more crucial aspects later and draw a conclusion.

How Long Does The Broker Work?

The operating time of a brokerage firm is a crucial element in its evaluation. The longer a company has been operating, the more trust it generally commands. On the other hand, if you come across a broker that’s been in business for less than a year, it should give you pause. Omega Financial LTD is one such broker, having been on the market for no more than 1-2 months. A domain check confirms it was registered as recently as August 2023. Without any registration documents to verify, we can reasonably conclude that the company was founded in August 2023.

Domain

How Is Omega Financial LTD Regulated?

Regulatory compliance is the most critical factor that should be verified with any brokerage firm you’re considering partnering with. Omega Financial LTD gave us an address in the United Kingdom. As a necessary next step, we’ll investigate whether such a company exists within this jurisdiction and whether it holds a valid license.

A search in the UK’s Companies House revealed two organizations with the name Omega Financial LTD. The first was dissolved in 2015, while the second was established in 2022. Interestingly, the latter has a different legal address, and its business is categorized as “Other service activities not elsewhere classified.” Furthermore, its status reads “Active proposal to strike off,” leading us to believe that it is probably not the subject of our review, but rather a different entity.

Next, we turned to the FCA, the agency that would likely be responsible for regulating Omega Financial LTD’s activities. We found several similar names in the registry, but none of the companies we found were the subject of our investigation.

FCA

Features Omega Financial LTD InvestFW  BTC-MARKETS
European Zone
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

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Expert Opinion

Scammers audaciously claim to offer a secure platform for profitable trading, which is an outright falsehood. Moreover, it’s worth mentioning that the internet is replete with fake positive reviews about Omega Financial LTD. Placing trust in such comments, let alone the company itself, is inadvisable, and for obvious reasons. The broker fails to provide any documents to validate its claim of being officially registered in London. Regulatory bodies have no record of the company’s existence, hence it operates without a license. The template-based design of the website also suggests that this scam likely belongs to a recurring group of fraudsters who exploit and defraud people by offering fake brokerage services under the guise of favorable conditions.

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Efficiency of technical support
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The level of trust
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Efficiency of technical support

2 reviews about Omega Financial LTD

Harry Topman August 21, 2023 - 12:37
They stole my money
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Hello. I recently fell victim to a scam operated by Omega Financial LTD. These charlatans promised comprehensive training courses, assistance from a personal manager, and expert advice on trading strategies. They even showcased supposed success stories of traders who had ostensibly achieved excellent results and significant profits.
As a novice in the world of Forex trading, I was easily swayed by these fictional tales and fake testimonials. In retrospect, I was the perfect victim. I ended up losing more than $2000, with no way to recover the funds. Over half of that was lost in unprofitable trades suggested by Omega Financial LTD.
I wanna warn anyone contemplating opening an account with Omega Financial LTD: please don’t. The company is a blatant scambroker that deserves to be shut down, and its founders should face legal consequences. A considerable number of people have already suffered due to their fraudulent activities. Their lofty promises and fake benefits are nothing but elaborate lies designed to deceive. They will gladly take your money and then vanish without a trace, just as they did with me.

Reply
Step One November 9, 2023 - 23:51
Omega Financial LTD - scammers, crooks, and criminals
The level of trust

Believe it or not, Omega Financial LTD is a fake brokerage platform. They are brazen scammers who pay money to publish positive reviews and also pay money to remove negative reviews. The company is operating illegally because it is not even registered. Obviously, there can’t even be a brokerage license in theory. They purposely hide important conditions, such as commissions and spreads, so that a person does not know whether it is profitable to trade here. They don’t have a demo account so that they don’t have to waste time on those who can’t invest real money. Their main goal is to steal your money. So stay as far away from Omega Financial LTD as possible. Do not talk to these scammers who operate according to a fraud scheme. This is not their first and not their last fake site. They create them one after another to scam people out of money. Here is the whole story, here is the truth about these scammers, fraudsters, and swindlers.

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