OnlyTrades Review

Is OnlyTrades Scam or Legit Broker?

According to our research, OnlyTrades is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, OnlyTrades Group has been suspected of fraud, when pretending to be another company with a better reputation.

What is OnlyTrades?

OnlyTrades is a Forex and CFD broker. It is owned and operated by Marantino Capital Ltd, based in Malta. The contact phone number provided on the website is British, which means the company is targeting UK residents without being authorized in the country. The company is not regulated in the UK by the Financial Conduct Authority, which is obligatory for companies that provide financial services.

• Also, the Malta Financial Services Authority (MFSA) has recently issued a warning against Marantino Capital Ltd and OnlyTrades.
• It is recommended to check if the broker is regulated before starting any business with it. Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts.
• FCA provides a Financial Services Compensation Scheme with an upper limit of GBP 50,000 of compensation. You can check the list of FCA-regulated brokers here.

Overall OnlyTrades Ranking 

Based on our findings about the safety and reliability of OnlyTrades, we do not rank positively OnlyTrades, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• OnlyTrades 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.

OnlyTrades Alternative Brokers

Due to our revelations of issues with the safety of OnlyTrades, here are much better Alternatives to OnlyTrades with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

With OnlyTrades there are several funding methods, including credit and debit cards, bank transfers, and e-wallets, such as Qiwi, WebMoney, and Yandex.

OnlyTrades Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. OnlyTrades is not a regulated broker, besides, it seems that the broker's website is now offering varying services, which might be an indication that the broker is not operating or has changed its scope of activities. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and BlackBull Markets.

• Overall ranking and experience for OnlyTrades is Negative