OGFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-08 18:37

Abstract：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.

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

OGFXReview Summary
Founded	2008
Registered Country/Region	Australia
Regulation	ASIC (Suspicious Clone)
Market Instruments	Forex, etc.
Demo Account	✅
Leverage	Up to 1:400
EUR/USD Spread	Floating around 0.2 pips
Trading Platform	MT4
Min Deposit	$1,000
Customer Support	Tel: +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 provided	Inaccessible official website
Demo accounts available	Suspicious clone ASIC license
Tight EUR/USD spread	High 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 Authority	Australia Securities & Investment Commission (ASIC)
Regulatory Status	Suspicious Clone
Regulated by	Australia
Licensed Institution	Neptune Securities LTD
Licensed Type	Investment Advisory License
Licensed Number	332890

　　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.

Account Type

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

Account Type	Min 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.

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.