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Is OBV Trade MT5 a legit dealer?
Joao Luiz ukah.N
Bouvet Island
Nov 23, 2023
ANSWER No, OBV Trade MT5 is not a legitimate trading platform. In fact, it appears to be an investment fraud scheme.OBV Trade MT5 falsely claims to be multi-regulated, purporting to be under the supervision of the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Japan Financial Services Agency (Japan FSA). However, our search revealed that the regulatory information OBV Trade MT5 provides actually belongs to another legitimate company. This means that OBV Trade MT5 is misleading investors by illegally using another entity's profile. Such dishonest practices strongly suggest that OBV Trade MT5 is a scam.Therefore, trading with this unscrupulous broker carries significant risk. It is always advisable to choose fully regulated brokers to minimize the risks of fraud and identity theft.
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