Whenever we come across Donnybrook Consulting Ltd and its brands, the review is a challenge. There are so many questions and so few answers. This is one of the well-known companies, and anyone familiar with trading has heard of at least one brand of this company.
Is OptiMarkets regulated? What is the difference between this and all the other brands? Read our OptiMarkets review and find out.
|Broker status:||Unregulated Offshore Broker|
|Regulated by:||No Regulation (Illegal Broker)|
|Scammers Websites:||optimarket.co and optimarket.trade (inactive)|
|Blacklisted as a Scam by:||CONSOB, AMF, FSMA, CNMV and LB|
|Broker Owner:||Donnybrook Consulting Ltd|
|Headquarters Country:||Commonwealth of Dominica|
|Supported Platforms:||WebTrader and STATUS platform|
|Types of Assets:||Forex (FX), Commodities, Indices, Stocks|
|Free Demo Account:||No|
|Accepts US clients:||No|
OptiMarkets Regulation and Security
As aforementioned, OptiMarkets, or OptiMarket, is a brand of Donnybrook Consulting Ltd. The company is based in the Commonwealth of Dominica and owns several other brands. For example, the same company owns Energy Markets, EuroFX, and OFXB. There are quite a several security warnings against the owner of OptiMarkets. So, if the owner has been blacklisted, is there a chance to trust a brand? We highly doubt it.
What’s Wrong With OptiMarkets Regulation?
Everything. Everything is wrong with OptiMarket regulation. Why? Because it doesn’t exist. Even though the broker is in an offshore country, it needs to have regulations. Donnybrook Consulting Ltd provided us with some registration numbers, and it proves that the company has been incorporated in Dominica. However, this does not mean that the broker is regulated.
Scam Warnings From Financial Regulators
Several regulatory bodies blacklisted OptiMarket and their owner, Donnybrook Consulting Ltd.
Here is the complete list.
Warnings against the OptiMarkets came from the Italian CONSOB and French AMF. As per these regulators, OptiMarkets is a scheme broker without permission to provide financial services in related countries and the EEA zone in general.
On the other hand, Donnybrook Consulting Ltd was blacklisted by Spanish CNMV (four times since last year for different brands), Belgium FSMA, and Lithuanian LB for its other brands. The reason is always the same – conducting a scam.
What Are Trading Platforms Available?
After revising brokers website optimarket.co, we were able to find that OptiMarket trading platforms are web trader and STATUS trading platform. A web trader is a classical tool of scam brokerages, while the STATUS platform is an attempt of competition to MetaTrader. However, there is a good reason why 80% of brokerages on the market are offering MT4 and not other platforms — starting from security reasons to many features this platform has.
The leverage OptiMarkets offers is again suitable for its status of a scam brokerage and goes up to 1:500. There is a good reason why in many jurisdictions’ regulators limited the leverage.
Do not fall for the OptiMarkets scam!
What Can You Trade With an OptiMarkets Broker?
The broker offers trading with currency pairs, commodities, indices, and shares. However, there are no cryptocurrencies available.
The website also provides a lot of information about the market itself and many updates traders can use to open the correct position.
There are only two account types, and OptiMarket’s minimum deposit is $250. For the Advanced account, investors need to deposit a minimum of $25,000. Sounds a bit irrational for an unregulated brokerage.
Scammed by OptiMarkets broker? What to Do?
Since we already explained the risk of trading with this company, if you were scammed by OptiMarkets, do not panic. You need to look for a way to get your funds back.
Unfortunately, you are not the only victim of the OptiMarkets scam. If you had withdrawal issues with this or any other non legit brokerage, contact our support for help.
We are available on chat!
Don’t Let the Scammers Go Away for Free!
What is OptiMarkets?
OptiMarkets is an unregulated and unlicensed offshore online trading brokerage.
Is OptiMarket regulated?
OptiMarket has no regulations for providing financial services.
Is my money safe with the OptiMarkets broker?
Since the broker is not regulated, your funds are not safe with this broker.
Who is the owner of OptiMarkets broker?
OptiMarket is owned by Donnybrook Consulting Ltd, a company blacklisted by Spanish CNMV, Belgium FSMA and Lithuanian LB.