Is Obsbit a scam or legit broker?

No, it is not safe to trade with Obsbit. Obsbit is owned by Setonix Holding Ltd. which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

Obsbit offers its clients a variety of products and trading options, including Forex, Commodities, Stocks, Indices, Crypto. The broker claims to be registered in the Marshall Islands, however, the terms and conditions state the company is under the jurisdiction of Vanuatu. Anyway, most of the brokers operating in such offshore zones are not regulated and are not to be trusted in general.

In addition, the company provides contact numbers with the phone codes of the UK, Germany and Spain, when it is not actually regulated in any of them. It also means that Obsbit has been mainly targeting European residents. Moreover, Spain’s regulator CNMV has issued a warning against this broker:

“SETONIX HOLDING LTD is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions.”

We strongly advise all investors and traders to avoid Obsbit and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and eToro.

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3 responses to “Obsbit”

  1. OBS bit is just another unlicensed scam broker they are linked to UproFX and KontoFX both blacklistes by the FCA ASIC FMA and a few more beware and do not invest money !!!

  2. OBSBIT is a unregulated scam broker they se fake news and promote scams like the Calloway crypto system , bitcoin trader bitcoin profit dragonsden and many more who direct you to scam brokers like OBSBIT.
    believe me there is no money to make no mater what they tell you these are all lies to make you invest more money so they can steal it , once it is in their hands you never see it again ,these people stole my retirement savings now I warn others from them !

  3. este corredor es una estafa si alguna vez quiere ver su dinero denunciarlo nuevamente a la policía y luego decirle a su banco que inicie una devolución de cargo porque ha sido estafado.
    no caiga en más mentiras, su manager de cuenta le dice que las ganancias no son reales porque no tienen una licencia para acceder a los mercados como intermediario, lo que significa que solo tienen el dinero que una vez depositó allí, ¡así que tenga cuidado!

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