Risk Warning
There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors. Please keep in mind that the data presented in this article is meant to serve as a guideline only.
Overview of Omega Pro
Omega Pro is a UK-based forex brokerage firm that has been operating for two years. They offer trading in Forex, CFDs, and cryptocurrencies, and claim to provide their clients with access to a range of trading platforms and tools. Omega Pro offers trading in Forex, CFDs, and cryptocurrencies, including popular currency pairs like EUR/USD, GBP/USD, and USD/JPY, major cryptocurrencies like Bitcoin and Ethereum, and CFDs on indices, commodities, and shares. The brokerage firm has not clearly stated a minimum deposit requirement on its website, but it offers leverage of up to 1:500 on forex trading. Omega Pro claims to offer competitive spreads on its tradeable assets. However, detailed information on spreads is not available on the company's website. Omega Pro provides access to several popular trading platforms, including MetaTrader 4 (MT4) and their proprietary platform. MetaTrader 4 is a well-recognized trading platform that is widely used in the forex industry, offering several features such as advanced charting tools and expert advisors. When it comes to customer support, it seems that Omega Pro does not offer live chat or phone support, leaving email as the sole point of contact for customer support.
It is important to note that although Omega Pro is registered in the UK, they are not regulated by the Financial Conduct Authority (FCA). Therefore, investors should evaluate Omega Pro's legitimacy before opening an account or investing any money with them.
Is Omega Pro legit or a scam？
While Omega Pro claims to be a UK-based brokerage firm, it is important to note that it is not authorized or regulated by the Financial Conduct Authority (FCA). In fact, upon conducting a search on the FCA website, there is no mention of Omega Pro or any associated entities being regulated by this government entity. As such, traders who are looking to invest in Omega Pro should be aware that it may not be subject to the same level of regulatory scrutiny as other FCA-regulated brokers, which may result in higher risks and decreased safety for their investments
Pros and Cons
Omega Pro offers a diverse range of tradable instruments, including forex, indices, cryptocurrencies, and commodities. Moreover, it offers competitive spreads on forex starting from as low as 0.6 pips, and no commissions are charged on any forex trades. The broker also provides negative balance protection, which is an important feature that can help protect traders from losses that exceed their deposit amount.
However, there are several drawbacks to trading with Omega Pro. Firstly, the broker is not regulated by any recognized financial authorities, which means investors may not have the same degree of protection as they would with a regulated broker. Secondly, customer support is only available via email, which may not be adequate for traders who require immediate assistance. Additionally, there are limited educational resources available on Omega Pro's website, which may be a downside for beginner traders. Finally, the minimum deposit amount is relatively high at $500, and there is only one account type available, which may not be suitable for traders with different levels of trading experience or strategies.
Market Intruments
Omega Pro offers a wide range of financial instruments, including Forex, indices, commodities, and cryptocurrencies. Here is a detailed breakdown of the market instruments offered by Omega Pro:
Forex: Omega Pro offers over 60 currency pairs, including majors, minors, and exotic pairs. Clients can trade these pairs with competitive spreads starting from as low as 0.6 pips.
Indices: Omega Pro offers several indices from around the world, including the US30, UK100, and the GER30. These indices are available for trading with competitive spreads and low margin requirements.
Commodities: Omega Pro provides a range of commodities for trading, including Gold, Silver, Brent Crude Oil, West Texas Intermediate (WTI), and Natural Gas. These commodities are available for trading with competitive spreads and low margin requirements.
Cryptocurrencies: As the popularity of cryptocurrencies continues to grow, Omega Pro offers several of them for trading, including Bitcoin, Litecoin, Ethereum, and Ripple. These cryptocurrencies are available for trading against major currencies like the US Dollar, the Euro, and the Yen.
Account Types
Omega Pro offers four account types for both retail and professional traders and these accounts are categorized by the minimum initial deposit, namely Starter, Premium, Gold, and Leadership.
To start a Starter account, you have to invest at least $100. It is acceptable but still higher than its peers requirements of $10.
From the Premium account, this requirement begins to soar to $1,000, with the Gold account from $6,000, and the Leadership account from $7,000.
While additional account features are not disclosed.
How to open an account？
To open a live trading account with Omega Pro, you need to follow these simple steps:
Visit the Omega Pro website: Go to the official website of Omega Pro and click on the “Register” button at the top right corner of the page.
Fill out the registration form: Provide your personal details, including your name, email address, phone number, and country of residence.
Verify your identity: Upload a copy of your ID document, such as a passport or driver's license, to verify your identity.
Confirm your contact information: Omega Pro will send you an email or SMS with a confirmation code that you need to input to verify your contact information.
Fund your account: Once you've completed the registration process and verified your identity, you can fund your account with a minimum of $500 to start trading.
Start trading: After funding your account, you can log in to the Omega Pro trading platform and start trading various financial instruments.
Leverage
Omega Pro offers its clients leverage of up to 1:500 for forex trading. This means that clients can trade positions up to 500 times greater than their account balance. For example, if you have a $500 balance in your Omega Pro account, then you can trade positions up to $250,0000 ($500 x 500).
It's important to note that while leverage can increase the potential gains, it can also significantly increase the risk of losses. Therefore, traders need to manage their risk effectively and use leverage responsibly. Additionally, Omega Pro provides education and resources to help traders understand leverage and how to use it effectively in their trading strategies.
Spreads & Commissions (Trading Fees)
Omega Pro offers its clients variable spreads for forex and spot metals trading, meaning that the spreads can fluctuate depending on market conditions, such as volatility and liquidity. Typically, the spreads start from 1.1 pips for major currency pairs like EUR/USD, but they can widen during volatile market conditions.
As for commissions, Omega Pro does not charge any additional commissions on trades. Instead, the broker makes money from the spreads, which is essentially the difference between the buy and sell price of an instrument.
While low spreads can be appealing, traders should also consider other factors such as execution speed, platform stability, customer support, and regulatory oversight when choosing a broker to trade with. Additionally, traders should always be aware of the risks involved in trading and apply effective risk management strategies.
Non-Trading Fees
Apart from the trading-related fees such as spreads and swaps, Omega Pro charges some non-trading fees which are as follows:
Deposit and Withdrawal Fees: Omega Pro does not charge any fees for deposits and withdrawals made through bank transfer. However, for some other payment methods, such as credit/debit cards or e-wallets, the company may charge a processing fee ranging between 2% and 4%.
Inactivity fee: If a trader's account remains inactive for more than 3 months, Omega Pro charges an inactivity fee of 10% of the account balance.
Conversion rate: If a trader deposits or withdraws funds in a currency other than the base currency of their trading account, Omega Pro will convert the deposited/withdrawn amount into the account's base currency at the prevailing exchange rate. A conversion fee ranging between 0.3% and 3.5% may apply.
Other fees: Omega Pro may also charge some additional fees for non-trading services such as account opening, account maintenance, and data fees.
Trading Platform
Omega Pro offers the MetaTrader 4 (MT4) and WebTrader trading platforms to its clients. MT4 is one of the most popular platforms in the industry, known for its reliability, stability, and comprehensive charting package. It offers a user-friendly interface, customizable technical indicators, and automated trading features. MT4 is available for download on desktop and mobile devices and is compatible with both Windows and Mac operating systems.
WebTrader is a web-based platform that allows traders to access their trading account from any internet-connected device without having to download any software. It provides all the necessary trading tools, including customizable charts, a variety of technical indicators, and real-time data. Like MT4, WebTrader also supports automated trading, and traders can use it to create and back-test their strategies.
Deposit & Withdrawal
The minimum deposit amount is $500. Omega Pro offers a variety of convenient deposit and withdrawal methods for its clients. The methods include:
Withdrawals can be made using the same method as for depositing funds, and the funds will be returned to the same account that was used for the deposit. Withdrawals are usually processed within 1-2 business days, and there are no fees for withdrawals except for bank wire transfers, which can incur a fee depending on the bank.
Customer Support
Omega Pro's email support can be reached at support@omegaapro.com, and it is the main point of contact for clients who need assistance with their trading accounts or have any other questions or concerns. No hotline, live chat, and a FAQ section is available.
Educational Resources
Disappointingly, Omega Pro only provides trading services to their clients, but they do not provide any detailed educational resources such as articles, webinars, or tutorials to help traders enhance their knowledge and skills.
Conclusion
In conclusion, Omega Pro is a brokerage company that offers its clients access to global financial markets through flexible and user-friendly trading platforms, as well as favorable trading leverage up to 1:500. However, Omega Pro is not regulated by any authority, which is a major concern for most traders, and it does not provide any educational resources or training materials, which may be a drawback for beginner traders who require guidance to improve their trading skills.
Frequently Asked Questions (FAQs)
Gianco
Peru
In 2021, I made an investment of $2500.00 dollars, buying 3 packages: two of $1000 dollars and one of $500 dollars, of which I could only withdraw $500 dollars through Binance. It turns out that after a year and a half, I tried to access the platform to withdraw the supposed 300% return on my first two packages, only to find out that the website had expired and we had to access the Broker Group platform. However, on that platform, there was no increase in the invested money until 2023. Currently, I am trying to access the two aforementioned platforms, but it turns out that they have already expired.
Exposure
2024-09-30
FX3807131813
Colombia
More than a year ago, I fell into the scam of Omega Pro, thinking that the annual profitability would be 200%. It has been more than 16 months and they have not returned my money. They gave me an excuse that there was a problem with the platform and I couldn't withdraw the money. Until now, this has not been possible. Currently, I have $2000 that I have not been able to withdraw. So far, no advisor has been willing to respond to me and they don't want to give me an answer in . I am waiting for your response, I hope you can help me. I would greatly appreciate it.
Exposure
2024-08-06
FX2326389520
Peru
Hello, I can't withdraw my money from Omega PRO, I'm already waiting like 2 years without being able to withdraw my money.
Exposure
2024-04-05
gaby991
Puerto Rico
I invested $3,000 in the hopes of being able to triple it, as I had been guided to do. It has been approximately two years of investing and I still have not had a response from the leaders. It also won't let me withdraw the money since it says my account has not been verified.
Exposure
2024-04-02
Laura Valero
Colombia
PLEASE I NEED HELP! My family decided to invest in 2022, then the Omega Pro hack occurred and then the investment was transferred to the broker group. All the paperwork to verify the accounts was done so that we could get our investment back, but a year has passed and the money has not been returned to us. The broker group account data is in zeros as if the money had already been returned to us but that is not the case.
Exposure
2024-02-03
SIENNA
Peru
I ENTERED OMEGA PRO IN THE YEAR 2022, IN THE MONTH OF AUGUST APPROXIMATELY, THROUGH A FRIEND, WHEN I ENTERED THEY CREATED FIVE ACCOUNTS WHICH I AM GOING TO ATTACH; TO THIS DATE THE WITHDRAWAL STILL CANNOT BE MADE.
Exposure
2024-01-22
Ldv
Argentina
I invested in OmegaPro from a former friend who told me about the “unique opportunity” of this business and all with sweetening words on August 2, 2021, everything was going well when I saw the supposed “returns” in my account, at no time did I put no one in the “business” I just invested my capital patiently waiting for the promised return, which was an amount of $900usd divided into 3 accounts, one with the package of $500usd, and two with two packages of $100usd, which with the total with the commission charged was about 1000usd that I invested, the established time having almost expired. of 16 months, on November 25, 2022, the alleged “attack” on the Omega network and everything that follows with “Broker Group” happens. Since I wanted to obtain my capital, I did all the operations that they asked of you to supposedly obtain it one day, transferring the funds to this new page and selecting the option to withdraw and not continue, for which they charged you a commission which I did not care since I only wanted the sum of what I had invested out of my pocket. Supposedly leaving a Binance account or some virtual wallet within months, your money would be deposited into the account. After more than a year of waiting, I lost hope even though it was very little, and I turned to this complaint since it is the only place where it can be done, I would love to be able to recover even some of the investment since I am not financially well and It would help me a lot, thank you very much in advance. I have attached images as evidence.
Exposure
2024-01-04
Angel1025
United States
Hello, I need help, the company Omega pro scammed me. They no longer want to return my investments. It happened from 2022 and to date there is nothing. I am very sad for my money. I earned it with the sweat of my brow. Omega Pro comes this way scamming me. Every time when I call him, he doesn't answer my calls, he just rejects my calls. I want to get my funds back and I don't know why they did this to me. I'm very sad.
Exposure
2023-12-14
River 237
Argentina
From 2022 to 12/14/2023(today), I was not able to make any withdrawals. I invested in US$ 5000. I need to get back my money, it is savings of many years.
Exposure
2023-12-14
Angel1025
United States
Hello, Omega Pro scammed me, they offered me a return of up to 300 percent, and the contract was 16 months. And now it's been about 30 months and they have not returned my money. When I call them on the phone, they no longer answer me. They just reject my calls. I am very sad about my money. I work hard to earn it with a lot of sweat on my brow, and Omega Pro comes to scam me. I am very sad about my money, very sad.
Exposure
2023-12-09
Dariomn
Colombia
Hello, good afternoon, for more than 1 year Omega has not allowed you to withdraw funds from the broker group. They made me open 7 accounts, and transfer the funds to the broker group, since before the problem I requested a withdrawal of funds and did not receive a response. As of today, I check the broker and the funds are still being held, I sent all the documentation required for verification, without obtaining a positive response. They also do not send any information from the corporate, and the money is still detained, the banks harassing and the savings and investments of all of us held. Please request help or some information to recover the funds.
Exposure
2023-12-03
Alcón.1
Peru
I invested in Omega pro. And then they transferred me to the broker group and I can't withdraw either. Please, I need your help to recover my investment...
Exposure
2023-12-01
cachorro3819
Peru
I invested in omega pro and then they transferred me to Broker Group where I cannot withdraw my investment either. I would like your help please.
Exposure
2023-11-27
ElCapo
Peru
In 2021 I invested in this scam company believing in tripling the amount invested, making me earn $9,000 with my wife creating 5 accounts. Time passed and this hacking, freezing of money, and many other falsehoods came. And now I don't know how I could recover my invested money. I hope you have a solution. I would have to consider that my accounts have only one email bound with 4 accounts. And my wife has 1 account that has its email. I sent some images. 4 images are my accounts.
Exposure
2023-11-15
alex marcus
United States
They made it so hard to withdraw l tried withdrawing and they block my account they stole my $401
Exposure
2023-11-15
HumbertoHS
Peru
As mentioned, the funds cannot be withdrawn partially or completely. It has generated a message for any operation that they are going to verify the account. This account was on the Omegapro page and from there they passed it to Brokergroup (broker-group .com). My account is HumbertoHS
Exposure
2023-11-10
Mona8430
Colombia
In 2021, I met a man named GUSTAVO ARBOLEDA MIÑOS. He claimed to belong to Omega pro, indicating that that company was legal and it was regulated by all entities, that it was also a bank that was in DUBAI. I believed in this person and a relative who took me to see this, supposedly something magnificent to double my life savings, in total I lost $7,200 USD, which is not easy to get at all, especially here in Colombia, now they only say that you have to pay some lawyers to give us a part back and even then they don't give us any guarantee that it will be returned, they deceived me and harmed me to the point that I am sicker than ever due to all the stress I go through every day, I have 2 children who since Last year. I couldn't give them anything for Christmas, nothing for a Christmas dinner. Please help me.
Exposure
2023-11-09
Mona8430
Colombia
In 2021, I met a man named GUSTAVO ARBOLEDA MIÑOS, he claimed to belong to Omega pro, indicating that that company was Legal, that it was regulated by all entities, that it was also a bank that was in DUBAI, I believed in this person and a relative who took me to see this, supposedly something magnificent to double my life savings, in total I lost $7,200 USD, which is not easy to get at all, especially here in Colombia, now they only say that you have to pay some lawyers to give us back a part and even so they do not guarantee that it will be returned, they deceived me and harmed me to the point that I am sicker than ever due to all the stress I go through every day, I have 2 children who since Last year I couldn't give them anything for Christmas, nothing for a Christmas dinner.
Exposure
2023-11-08
JAMPAZ
Colombia
Good evening, for 10 months I have been trying to withdraw my investment from three OMEGA PRO accounts, but the attempt has failed. Please help me, thank you very much. I attached evidence.
Exposure
2023-10-22
FX6552377652
Argentina
I invested in July 2022 in omega about 550 usd, which said they generated profits, in December (2022) I wanted to withdraw my money, which the page accused of a 'cyber attack' so they would not let me withdraw or see my money. Today May 2023, the page is still in 'maintenance' for this alleged attack, on their instagram page they say that 97% of users got their money back. They left a 'backup' page called BROKER GROUP, which tells me that I can withdraw the money invested, or otherwise leave the money on that platform. When I put to withdraw, it asks me for a million papers to attach, which it does not let me, nor gives me the option to attach them. I want my money as soon as possible, I need help please! I attach proof!
Exposure
2023-05-06