OGFX Review – Is OGFX Scam or a Proper Broker?

OGFX Review

OGFX, also known as Oceans Global, is a popular Australian broker that has been operating since 2009. Its headquarters are in Sydney and is regulated by ASIC, a well-known regulatory authority. ASIC has strict rules that brokers should follow to consider them safe enough for use.

This broker guarantees your safety because all funds are kept in segregated accounts. The environment here is reliable and trustworthy. The broker offers multiple trading accounts and exclusive services.

Trading accounts

OGFX offers two types of trading accounts with different features. The standard account is basic and requires $1,000 to start trading. The minimum deposit here in $100 and you can receive 24-hour trade signals. The standard account offers an average leverage of 1:400. The minimum deposit at the pro account is much higher at $50,000.

This account is for professionals and provides the same leverage and basic tools as the standard account, except you can also see a regular market outlook and even a trading report.

The broker also offers a demo account and Islamic account. The demo account can prove very helpful for new traders as they can practice strategies and get comfortable with the tools without any added monetary risk. You can use this account for 30 days The Islamic account is a swap-free account built especially for Muslim traders who trade according to Islamic law.

Trading platforms

This broker offers use of MT4 which is the most common platform for trading. It is full of features and can be used on mobile phones, desktops, or the web. You can use it to trade Metals, Forex etc.

This platform also consists of 30 technical indicators that are built in and let you analyze and navigate charts of instruments. MT4 is quite popular for its automated trading, which is powered by EAs (expert advisors). This broker allows the use of this feature.

Ocean Globals’ clients can choose a strategy that matches their needs and comfort while trading. Moreover, the brokers’ mobile app is developed for iOS and Android devices with the same features, so you don’t have to worry about missing out on trading when you don’t have your laptop with you.

Fees

This broker does not charge any deposit or withdrawal fees directly. In some cases, depending on the withdrawal method, there may be an external fee charged by the bank which is deducted from the original amount. Therefore, you should always check which processes are free for your bank. There are also no commission charges.

Trading instruments

OGFX offers use of CFDs, commodities, metals, forex, and indices, along with more than 50 currency pairs that have tight spreads. The leverage for commodities is quite high compared to the others. You can also navigate these instruments charts through features provided by the broker.

Deposits and withdrawals

There is no deposit or withdrawal fee charged by the broker itself, but you should always check the policies of your bank to rule out any indirect fees. The minimum deposit at OGFX is $1,000. You can deposit funds through bank transfers, debit and credit cards, broker-to-broker transfers, e-wallets like Neteller and Skrill, and many other options.

The withdrawal options include Mastercard, debit and credit cards, bank transfers, BPAY, broker to broker transfer and more. Depending on your payment method, withdrawals can take anywhere between half an hour up to even a few working days.

Customer support

Oceans Global has a customer support team available 24 hours a day and 5 days a week. They can answer your queries in several languages along with English. They can be reached via live chat, phone etc.

Conclusion

Oceans Global is an inclusive broker with lots of features and trading platforms available to suit you and make trading convenient and stress-free for its clients. It has developed its website to match the needs of traders around the world and you are bound to have a good experience with it.