Is Ocean Markets Scam or Legit Broker?

Ocean Markets is not a legit broker. It is impossible to find any information about the broker’s license or its regulations.

  • On the Ocean Markets website it is mentioned that it is owned and operated by Valep Ltd, Marshal Islands. In contradiction, the contact number is British which leads to doubts. Moreover, the terms and conditions of the broker are close to European regulations.
  • Trading with Ocean Markets might put the client’s investment at risk since it is not a Regulated Broker and clients are not protected by any tight and reliable regulations. 

Marshal Islands is notorious for its practically absent requirements and regulations. Due to the low setup cost, there are almost no regulations and rules present. Therefore, it became an offshore zone for shady forex brokers such as Millennium FX, Umarkets, and more.

About Ocean Markets
🗺️ Registered inMarshal Islands
🗺️ Type of LicenseOffshore License
🛡️ Is Ocean Markets safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What Is Ocean Markets?

Ocean Markets claims to be a developing broker in the global trading market. They boast of providing the best conditions for investment and trading, as well as the most up-to-date information on economic and political events to investors. Ocean Markets offers its users CFD, Forex trading, commodities, indices, and other assets.

Ocean Markets gives access to an array of innovative tools. It provides 24/7 customer service.

  • However, no matter how attractive Ocean Markets’ offerings are, it is still an unregistered and unregulated broker, and signing in with it means putting the investment at risk.
  • Besides, based on our research, we have accumulated a large number of complaints regarding Ocean Markets’ withdrawals. Clients complain that they are not able to withdraw their money even after months of trading and depositing. 

Ocean Market Review

Overall Ocean Markets Ranking 

Taking into account our revelations on the safety of Ocean Markets, we do not rank positively Ocean Markets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • Ocean Markets Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
RankingOcean MarketsAvaTradeBDSwiss
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading EnvironmentTrading Instruments

Ocean Markets Alternative Brokers

Based on our finds and issues with the safety of Ocean Markets, here are much better Alternatives to Ocean Markets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

Account Types

Ocean Markets offers a range of account types, designed to meet traders’ expectations. For beginner traders, the broker offers Starter’s account. The minimum deposit for this account type is $500. Silver or Gold accounts have a higher entry threshold, but they offer more options and provide access to additional services. Experienced traders choose either Platinum or VIP accounts.

Ocean Markets Deposit & Withdrawal

Ocean Markets offers different funding methods, including Visa/MasterCard, Neteller, and Skrill. The minimum deposit is $500 for Starter’s account. The broker also offers different bonuses that are determined by the volume of trades.

  • To get access to the earned money on the account, traders need to reach a certain limit to withdraw the funds. In case, traders decide to withdraw the money before the limit is reached, all the funds on the account will be cleared.
  • It is worth mentioning that clients have a lot of complaints regarding the withdrawal process. Many cannot withdraw their money even after months of trading and depositing.

Trading Platforms

Ocean Markets offers a range of different trading platforms: xCritical online – mobile and desktop platforms, MetaTrader4, MetaTrader5.

  • xCritical online offers more than 170 trading instruments, built-in technical advisor Autochartist, the ability to lock and duplicate positions, online support chat, etc.
  • With Ocean Markets traders also have access to the popular MT4 and MT5 platforms, enabling access to modern development technologies and a user-friendly interface, providing the best tools and features for favorable trading.

Ocean Markets Review Conclusion

Based on our professional experience and conducted research, we do not recommend Ocean Markets. There are many questions in regard to the trust of the Ocean Markets company services and the manner they do operate the online trading itself. Besides, many traders shared their negative experiences with numerous complaints and were asking us to assist with resolving, see Ocean Markets Inquiry here. 

We strongly advise opening a trading account only with tightly regulated brokers with good standing (UK brokers or brokers in Australia), that will provide a safe and secure trading environment, such as HotForex, and BlackBull Markets.

  • Overall ranking and experience for Ocean Markets is Negative

 

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One response to “Ocean Markets”

  1. It’s nearly impossible to find knowledgeable people in this particular topic, but you seem like you know what you’re talking about!

    Thanks

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