Oil Trade Asia Ltd. Review 2024

Oil Trade Asia Ltd. Review 2024

Updated:
Updated: January 05, 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:

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Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.

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.

User Satisfaction i

10 comments
Total score:
2 /10

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aekkapong
16 weeks ago

They are scammers, and their target is your capital. Avoid them.
Avoid these oil brokerages that are not regulated; they tend to offer more attractive offers than regulated brokers, and they do this on purpose. What they want is your money, and once they get hold of it, you will be shocked at how much stress you will go through trying to withdraw the same money you deposited without tension.

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dilipkumarreddy
19 weeks ago

My mistake began when I registered with this broker without conducting thorough research on their services or reading reviews. After signing up on the website, I received a call within seconds. The caller, displaying highly unprofessional behavior, aggressively attempted to convince me to invest in the broker immediately. When I suggested funding the account at a later time, the caller took offense and insisted on the benefits of trading right away. The conversation then shifted to probing about my monthly income and other personal details, which I found unprofessional. At this point, I realized it wasn't a legitimate business and promptly ended the call. It is advised to avoid dealing with this broker to protect yourself from falling for online investment scams.

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litonsweet
25 weeks ago

Do not allow yourself to be scammed by this broker; avoid falling for their attractive offers. I fell for it, and the outcome is not something you would like to experience. I initially didn't want to invest with them, but considering the nature of investing, which involves risks, I implore you not to take the same risk I did. It's advisable to deal with regulated brokers to ensure a safer investment environment.

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digitalwork
27 weeks ago

This is a scam. After registering on the website, I received a call within seconds. During the call, I inquired about why the platform is not regulated by top financial authorities, but there was no response. The caller proceeded to list the benefits of trading immediately after setting up a new account. After listening, I repeated my question, and this time, he responded by saying, "Do I think regulation will stop a broker from fleeing with my funds if they really want to?" I had only asked a question, but the caller was already talking about fleeing with funds, which I had not mentioned. This raises concerns about the legitimacy of brokers that are not regulated, and caution is advised when dealing with them.

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akroshdhami
33 weeks ago

"I was already suspicious that this broker might be masquerading as a reputable oil trading platform I've previously worked with, but I decided to confirm my suspicions. Shortly after registering, I received calls from different numbers, confirming my doubts about this being one of the scam brokers tarnishing the online investment landscape. This operation is a complete scam. Once you provide them with your name and phone number, they inundate you with numerous calls from random numbers. Don't fall for their claims; they are all deceitful. The glowing testimonials are probably the work of this fraudulent company's employees, who wrote the fake reviews. BEWARE!"

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jackyadav
35 weeks ago

I have been subjected to constant telephone harassment since seconds after I registered on their website. I have blocked numerous numbers, but they continue to call from random numbers. I attempted to email them to cease and desist, but their contact form does not work. My advice is to avoid this company at all costs.

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ashraful
40 weeks ago

Avoid, avoid, avoid at all costs! Once they have your phone number, get ready to field dozens of calls a day from incompetent people who will not talk to you unless you agree to pay the first deposit. Attempting to convince you that they are a legitimate company when, in reality, they are not is what you will keep hearing on each call you pick from this broker.

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.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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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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