ANSWER Yes, Ontega is a scam.While Ontega provides details about its regulatory status on its website, our research on this broker uncovered the truth that its regulatory information is fake.The supposed owner of ontega.com is Green Pole Ltd, a company claiming to be authorized by the Vanuatu Financial Services Commission (VFSC) with licence number 14627. However, neither the company name nor the license number appears on the Financial Dealers Licensee List of the VFSC. This is a red flag, suggesting that trading services or products provided via ontega.com are not licensed.Ontega also mentions a partner Rehoboth Ltd registered in Cyprus. However, we have been unable to locate any information amtching this firm in Cyprus Securities and Exchange Commission (CySEC) database. Since it is not a licensed investment firm by CySEC, the offerings of services/products in forex trading and brokerage are illegal.As such, Ontega is a scam. Investors dealing with this broker are exposed to significant risks such as financial losses and identity theft, as there are no rules in place to safeguard investors. Therefore, investors are advised against trading with unlicensed brokers like Ontega and instead to opt for a fully regulated one.
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