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Can I trust Olacco?
Ncamisile ZUCCOLI
Angola
Jun 04, 2024
ANSWER No, we strongly suggest you do not trust Olacco, an unlicensed broker.The broker, whose domain name was recently registered in November 2023, yet has made the bold claim of having an unlikely user base of over 50,000. Despite the assertion of transparency, it fails to provide any regulatory information for verification, a red flag indicating potential non-compliance with pertinent financial regulations.The Swiss Financial Market Supervisory Authority (FINMA) has issued a warning against Olacco. While claiming to be domiciled in Switzerland, Olacco is absent from FINMA's register. This lack of regulation makes any investments in Olacco risky due to the absence of legal protections.In light of this, Olacco is not a trusted option for investors. To protect their hard-earned money from potential fraud schemes, investors are strongly advised to steer clear of unlicensed brokers like Olacco and instead choose fully regulated ones.
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