OXAIG Review – Is it a Genuine Platform?

OXAIG Review

Are you looking for an online broker? Many people are currently trying to sort through the hundreds, or thousands, of options they come across when they begin looking for one. In the past few years, the number of these companies has surged remarkably, given that there has been an increase in traffic in the financial markets. But, how can this OXAIG review be helpful? The important thing to remember in your search for a brokerage is that no two companies can offer you the same kind of services. There are plenty of differences you can come across.

These can be in the instruments they offer, their target market, their trading platform, customer support and other features and tools. You have to figure out what aspects of a brokerage are important for you and then make a decision accordingly. Furthermore, it is also essential to check their offerings thoroughly because not all companies that are offering their services are genuine. Some of these are just scammers who disguise themselves to exploit people and using a fraudulent platform to do so is rather easy.

Most people are so eager to sign up with a broker to start their trading journey that they are ready to sign up with the first broker that appeals to them. However, you need to bear in mind that most fraudsters deliberately add such offerings to attract people. It is only after you have made a deposit that you come to know you have made a blunder. Do you really want to lose your money? No one wants to do that and this means digging into a brokerage to know if it is genuine or not. This should also be done in the case of OXAIG that is offering you fast execution, competitive pricing, an award winning platform and access to liquidity.

To add to it, you will find that OXAIG also claims to be regulated by the financial authorities in Malta and the UK. This makes it seem like the ultimate package, but is it really? Let’s get the details:

False regulation claims

Your priority should be to look for a brokerage that is regulated and licensed because dealing with such companies can offer you safety and protection in terms of your investment and information. But, since most people these days prioritize regulated companies, scammers have taken to making regulation claims to fool people. But, this only means that you should always verify their regulatory status to ensure it is genuine. You need to do the same in case of OXAIG because doing so can help you avoid falling into a trap.

As mentioned above, OXAIG claims to be regulated in both Malta and the United Kingdom. This means that it should have a license from the Malta Financial Services Authority (MFSA) and the Financial Conduct Authority (FCA) in the UK. But, when you check the online registers of both these authorities, you will not find the broker listed.

To make matters worse, you will discover that the FCA has actually issued a warning against OXAIG. The brokerage has been blacklisted by one of the world’s most renowned regulators and there can be nothing worse than that for any company. This is confirmation that the brokerage is operating illegally in the UK and is not licensed, which means it cannot be trusted at all.

Conflict of interest

Even if you were to set aside the warning of the FCA issued against OXAIG, you will find plenty of other problems with the broker that indicate it is definitely not genuine. One such problem is the conflict of interest they appear to have. If you go through the Terms and Conditions they have outlined on their website, you will find that OXAIG claims to be a market maker, which is how brokerages operate.

This means that they make their profits when their clients lose a trade and this is normal for every online broker offering their services. But, what creates a conflict of interest is that OXIAG is also offering managed accounts. This is not something a broker can do because it goes against their nature. Offering managed accounts means that they will make trades on behalf of their clients and help them make money.

But, if they are helping traders make money, this means that OXAIG is actually losing their own profits. Does that make sense? Of course it doesn’t, which means that the brokerage does not have good intentions and is trying to make a fool out of you.

Unusual withdrawal conditions

Things do get worse even if you think they cannot and all you have to do is check out the withdrawal policy of OXAIG to find out the answer. According to their policy, they have the right to impose deposit and withdrawal fee if they want and they are also free to impose any limits they want on deposits, withdrawals and other payments.

This is downright ridiculous because no genuine brokerage can do that. If they charge a fee, they are upfront about it, so you know what you are getting into. This policy only highlights that OXAIG does not have any good intentions at all.

No appropriate trading platform

The most important feature that an online brokerage offers to its clients is a trading platform because it helps them execute their transactions, monitor the market and offers trading tools that can be useful during the trading process. It is understood that you want a capable and advanced trading platform, but there is no reliable solution to be found at OXAIG at all.

Rather than the market renowned MT4, MT5, or even cTrader that most professional and authentic brokers are known to offer, you will find that OXAIG is offering a funny looking dashboard that only resembles a platform and does not do anything. Does that sound like a genuine broker to you? Obviously not.

Conclusion

Taking into account the lies and the false claims, it is evident that OXAIG is not a genuine broker and not one worth your time and money.