Global Broker Regulatory Inquiry Platform
WikiFX

Score

0 1 2 3 4 5 6 7 8 9
.
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

OGFX

Australia Australia | 5-10 years |
Suspicious Regulatory License | Suspicious Scope of Business | High potential risk

http://www.ogfx.com.au/

Website

Rating Index

Contact

+61 1300 459 688
http://www.ogfx.com.au/

license Forex License

risk

No forex trading license found. Please be aware of the risks.

Keywords 4
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk
Website
Company Summary
Wiki Q&A
Comment

Users who viewed OGFX also viewed..

TMGM

TMGM

8.55
Score
ECN Account10-15 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
TMGM
TMGM
Score
8.55
ECN Account10-15 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website
CPT Markets

CPT Markets

8.53
Score
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
CPT Markets
CPT Markets
Score
8.53
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website
XM

XM

9.10
Score
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
XM
XM
Score
9.10
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website
HANTEC MARKETS

HANTEC MARKETS

8.53
Score
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
HANTEC MARKETS
HANTEC MARKETS
Score
8.53
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website

Website

  • ogfx.com.au
    47.52.99.147
    Server Location
    Hong Kong Hong Kong
    ICP registration
    --
    Most visited countries/areas
    --
    Domain Effective Date
    --
    Website
    WHOIS.AUDNS.NET.AU
    Company
    AU-NIC

Company Profile

Company Profile

Review summary

Note: OGFX's official website https://www.ogfx.com.au/ is currently inaccessible normally.

OGFXReview Summary
Founded2008
Registered Country/RegionAustralia
RegulationASIC (Suspicious Clone)
Market InstrumentsForex, etc.
Demo Account
LeverageUp to 1:400
EUR/USD SpreadFloating around 0.2 pips
Trading PlatformMT4
Min Deposit$1,000
Customer SupportTel: +61 1300 459 688
Email: service@ogfx.com.au
QQ: 00188484

OGFX is a financial company registered in Australia. It offers two types of accounts, and the leverage can be up to 1:400. The minimum deposit is relatively high, which is 1,000 dollars. What's more, its regulatory license is suspiciously cloned.

Pros and Cons

Pros Cons
MT4 providedInaccessible official website
Demo accounts availableSuspicious clone ASIC license
Tight EUR/USD spreadHigh minimum deposit

Is OGFX Legit?

Investors should exercise caution when dealing with KOSEI Securities as there are red flags regarding the legitimacy of their regulatory claims. The Australian Securities and Investments Commission (ASIC) license number provided by the broker (License Type: Investment Advisory License license number: 332890) is suspected to be a clone. This poses a significant risk to investors who may unknowingly trust the legitimacy of the broker based on false regulatory credentials.

Regulatory AuthorityAustralia Securities & Investment Commission (ASIC)
Regulatory Status Suspicious Clone
Regulated by Australia
Licensed Institution Neptune Securities LTD
Licensed TypeInvestment Advisory License
Licensed Number332890
Suspicious clone ASIC license

Furthermore, the inaccessibility of their official website adds another layer of concern regarding the reliability and transparency of their trading platform. A reputable and trustworthy broker would typically have a user-friendly website that is easily accessible to clients for account management and trading purposes.

Besides, this OGFX is a clone broker posing as a legit one to misunderstand people, and it has nothing to do with another Ocean Global Markets (short for OGFX). Please be aware of the potential scam.

These warning signs should not be taken lightly, as they suggest a higher level of risk associated with investing in OGFX.

WikiFX Field Survey

WikiFX field survey team paid a visit to this OGFX‘s official address at Suite 706, 1-5 Railway Street, CHATSWOOD, NSW 2067. However, the team confirmed that the broker OGFX’s real address is not consistent with its regulatory address.

WikiFX Field Survey

Account Type

OGFX offers 2 types of accounts: Standard, and Pro. Free demo accounts are also available.

Account TypeMin Deposit
Standard$1,000
Pro$50,000

Leverage

For both accounts, the leverage can be up to 1:400. High leverage may bring potential risks, so careful considerations are needed.

OGFX Fees

The EUR/USD spread is floating around 0.2 pips. The commission fee is $18, and swap fees are not needed.

MT4

Trading Platform

OGFX provides its clients with access to the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features.

One of the standout features of MT4 is its support for automated trading through Expert Advisors (EAs). This feature enables traders to automate their trading strategies and execute trades based on predefined rules and parameters. Moreover, MT4 provides real-time quotes, news updates, and customizable alerts.

Trading PlatformSupported Available Devices Suitable for
MT4Web, desktop, mobileBeginners
MT5/Experienced traders

Keywords

  • 5-10 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

Wiki Q&A

How is the fund security of OGFX evaluated?

OGFX presents a high-risk profile for client funds. According to WikiFX data, it operates under an unverified Australian license and lacks authoritative oversight, which means client fund security is not protected by any verified compensation scheme. The entity's core risk score is 1.62.

In a week
United States

What is the current regulatory status of OGFX?

OGFX, operating as OCEAN GLOBAL MARKETS LTD, is not a verified regulated broker. While it is registered in Australia and has an ASIC license number listed, this license status is officially 'Unverified'. The WikiFX assessment indicates it operates without any valid, mainstream financial regulatory authorization.

In a week
United States

When was OGFX established?

OGFX has been operating for 5 to 10 years, indicating it is not a new market entrant but an entity with an established operational history. The company is registered in Australia.

In a week
United States

What factors should I consider when choosing a safe forex broker?

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

In a week
United States

How should I compare different forex brokers to find the best one?

To compare different brokers, investors can make comprehensive judgments from multiple dimensions such as regulatory qualifications, overall ratings, trading environment, account conditions, and user feedback. In general, priority should be given to regulatory status and license information, followed by WikiFX ratings and various indexes (such as risk control, software, and business indexes). At the same time, trading conditions (such as spreads and execution speed) and account information (such as minimum deposit and account types) should also be compared. In addition, user reviews, exposure records, and risk assessment information can also be considered to evaluate broker safety and trading experience from multiple aspects. The WikiFX platform also provides multi-dimensional broker comparison tools. Users can select different brokers for visual comparison and comprehensive analysis, so as to make decisions more efficiently.

In a week
United States

Can I recover my funds if I have been scammed by a broker?

Recovering funds after investment fraud can be difficult, but taking timely action may still help recover part of the losses. It is recommended to take the following actions immediately: keep trading records, chat records, and other evidence; contact the bank to try to stop or freeze the payment; report the case to local law enforcement agencies. In addition, investors can also use WikiFX complaint and exposure channels to increase the visibility of problematic platforms and improve the efficiency of rights protection.

In a week
United States

How can I determine if a forex broker is regulated?

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

In a week
United States

What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

In a week
United States
View More
Write a review
Exposure
Exposure
Neutral
Neutral
Positive
Positive

Content you want to comment

Please enter...

Submit now
Write a comment
Customer ServiceDownload AppScroll to TopTOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
United States
※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
Cooperation:business@wikifx.com