Did you ever hear about the color-changing Lizard? Ore Crypto is one such broker that operates in the crypto market with different names. This review seeks to examine the legitimacy of the platform.
Overview
Ore Crypto is a crypto broker that claims to operate globally and offers a range of trading services, including automated trading, leverage trading, and 24/7 customer support. The broker also claims to offer advanced trading tools and provide traders with in-depth market analysis. This broker has two domain names. They started with orecrypto.com and then they moved to ficrypto.com.
Is Ore Crypto Regulated?
The first step in verifying a broker’s legitimacy is checking for regulatory compliance. Unfortunately, Ore Crypto is not regulated, making it a red flag for traders. Brokers that are unregulated are more likely to be fraudulent and may operate in a manner that benefits them at the expense of traders. We tried to find out the license information from their website and customer service department. But they are not responsive about this matter and don’t want to share any information.
Warnings from Financial Regulators
Several financial regulatory bodies, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Financial Markets Authority (FMA), have issued warnings against Ore Crypto. These bodies have cautioned traders that Ore Crypto has been operating illegally and without any regulatory compliance.
Furthermore, the FCA has specifically warned against investing in Ore Crypto, stating that it is one of the many crypto scams that have been emerging in recent years.
What Currency Pairs Do They Offer?
OreCrypto offers a range of currency pairs, including popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. However, the fact that the broker is unregulated raises questions about the reliability of these trading pairs. Traders should be cautious when trading with unregulated brokers as they may be more susceptible to market manipulation and other fraudulent activities.
Customer Support
Ore Crypto claims to offer 24/7 customer support through various channels, such as email and phone. However, many traders have reported that they have difficulty getting responses from the broker. This lack of responsiveness can be a cause for concern for traders who may need assistance with their accounts.
Trading Platform
Ore Crypto offers a trading platform that traders can use to access markets and execute trades. The broker claims that its platform is user-friendly and provides advanced trading tools to help traders execute informed trades. However, the fact that the broker is unregulated raises questions about the reliability of the platform.
What Do Traders Think About Ore Crypto?
A quick search of online forums and review sites reveals that many traders are skeptical of Ore Crypto’s legitimacy. Several traders have reported losing their entire investment with the broker or experiencing difficulty withdrawing their funds. These complaints are a clear indication that Ore Crypto may be a fraudulent platform that seeks to take advantage of unsuspecting traders.
What To Do If You Get Scammed?
If you have been scammed by a broker like Ore Crypto, there are steps you can take to try and recover your investment. The first step is to contact the broker and request a refund. However, in cases where the broker is unresponsive, there are other measures you can take, such as filing a complaint with financial regulators or seeking legal action.
File A Complaint Against Trends Turbo & Get Free Consultation
Final Thoughts
Ore Crypto is an unregulated broker that operates in the crypto market, making it a potential red flag for traders. Despite claiming to offer a range of trading services and tools, several financial regulatory bodies have issued warnings against the platform.
Traders should be cautious when investing with unregulated brokers like Ore Crypto, and it is advisable to conduct thorough research before investing your funds. Ultimately, traders should only invest with regulated and reputable brokers to minimize the risk of scams and other fraudulent activities.
