Oil Trade Asia Ltd. Review 2024
Attention!
This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.
We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:
Summary of Oil Trade Asia Ltd Trading Company
Oil trading is a different type of trading that many investors engage in to generate revenue. This booming sector is attractive to investors in the UK. Understanding the foundations of oil trading and the key variables influencing its price is essential for successful trading. However, one way to protect your investments is to avoid dealing with shady brokers like Oil Trade Asia Ltd.
Since Oil Trade Asia Ltd. is not subject to any financial regulatory oversight, it cannot be trusted. Financial observers advise against doing business with these brokers due to the likelihood of scams. Despite Oil Trade Asia Ltd.'s enticing investment opportunities, this broker is ineligible despite company endorsements from emails, forums, chat rooms, and social media. "This company may be offering financial services or products in the UK without our consent," states the Financial Conduct Authority of the United Kingdom.
Due to its lack of regulation by a strict financial authority, Oil Trade Asia Ltd. cannot be considered a trustworthy broker. Although this broker is not accessible online anymore, traders must learn that opening a trading account with brokerages that are overseen by a stringent and high-ranking regulator is the best option.
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Contacts
Registration address | This broker does not provide any authentic address for their physical office or headquarters. It's important to note that they might offer other details or change their contact information, including email addresses, telephone numbers, or physical addresses, over time. |
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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FAQs
Why has Oil Trade Asia Ltd been placed on the Forex Broker Blacklist?
Possible reasons:
• multiple complaints have been filed against Oil Trade Asia Ltd by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of Oil Trade Asia Ltd is down, not updated or operates with clear errors and some features are not available;
• Oil Trade Asia Ltd has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.
What should I do if Oil Trade Asia Ltd got blacklisted and I still have money in my account?
Don’t panic right away. First, try to find out the reason why Oil Trade Asia Ltd got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.
What should I do if I cannot withdraw my money from Oil Trade Asia Ltd?
If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.
Is there any chance to recover my money if Oil Trade Asia Ltd is a scam?
On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.
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