Broker Information
OORAFX
OORAFX
No Regulation
Platform registered country and region
China
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info@oorafx.com
Company Summary
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Benchmark | -- |
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Maximum Leverage | 1:200 |
Minimum Deposit | 500 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $4.0 ($8.0 per lot roundturn) |
Benchmark | -- |
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Maximum Leverage | 1:300 |
Minimum Deposit | 100 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $5.0 ($10.0 per lot roundturn) |
Benchmark | -- |
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Maximum Leverage | 1:200 |
Minimum Deposit | 2000 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $3.0 ($6.0 per lot roundturn) |
Benchmark | -- |
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Maximum Leverage | 1:200 |
Minimum Deposit | 5000 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $2.0 ($4.0 per lot roundturn) |
Benchmark | -- |
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Maximum Leverage | 1:300 |
Minimum Deposit | 500 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $5.0 ($8.0 per lot roundturn) |
Benchmark | -- |
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Maximum Leverage | 1:200 |
Minimum Deposit | 25000 |
Minimum Spread | From 0 |
Products | -- |
Currency | -- |
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Minimum Position | -- |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | $1.5 ($3.0 per lot roundturn) |
Capital
$(USD)
Note: OORAFX's official website: http://www.oorafx.com/is currently inaccessible normally.
OORAFX Review Summary | |
Founded | 2008 |
Region/Country | China |
Regulation | No regulation |
Market Instruments | Currency Pairs, CFDs |
Demo Account | Available |
Leverage | Up to 1:300 |
Spreads | From 0 pips |
Trading Platform | MT5 |
Minimum Deposit | $100 |
Customer Support | Email: info@oorafx.com |
Pros | Cons |
Competitive Spreads | Lack of Regulatory Oversight |
Islamic Account Option | Issues with Website Accessibility |
Limited Contact Channels | |
Uncertainty with MT5 Platform Testing |
When considering the safety of a brokerage like OORAFX or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
In the end, choosing whether or not to engage in trading with OORAFX is an individual decision. We advise you carefully balance the risks and returns before committing to any actual trading activities.
OORAFX specializes in providing trading services in currency pairs and Contract for Difference (CFD) products. Traders can access a wide range of major, minor, and exotic currency pairs. Additionally, OORAFX offers CFD trading opportunities across commodities, indices, and other asset classes.
OORAFX offers a range of account types for traders at different levels of experience, providing both demo and live trading options. The demo account allows traders to practice without risking real money, ideal for beginners honing their skills. For live trading, OORAFX offers six distinct accounts:
Account Type | Minimum Deposit |
Demo Account | / |
Bronze | $100 |
Silver | $500 |
Gold | $2,000 |
Diamond | $5,000 |
Platinum | $25,000 |
Islamic | $500 |
OORAFX provides competitive leverage options tailored to each account type, allowing traders to amplify their trading positions relative to their deposited capital. Leverage ratios range up to 1:300 for Bronze and Silver accounts and up to 1:200 for the rest. However, you should be aware of the potential magnified losses as well which leverage can bring, implement robust risk management to minimize loss during market volatility.
Account Type | Maximum Leverage |
Bronze | Up to 1:300 |
Silver | |
Gold | Up to 1:200 |
Diamond | |
Platinum | |
Islamic |
OORAFX offers competitive spreads starting from 0 pips across all account types.
Account Type | Spread | Commission |
Bronze | From 0 pips | $10 /lot |
Silver | $8 /lot | |
Gold | $6 /lot | |
Diamond | $4 /lot | |
Platinum | $3 /lot | |
Islamic | $8 /lot |
The broker applies commission charges on trades, which vary by account type and trade volume. Specifically, for Bronze accounts, trades incur a spread from 0 pips plus $10 per lot traded. Silver accounts have a spread from 0 pips plus $8 per lot traded, while Gold accounts feature a spread from 0 pips plus $6 per lot traded.
Diamond accounts see a spread from 0 pips plus $4 per lot traded, and Platinum accounts experience a spread from 0 pips plus $3 per lot traded. Islamic accounts also start from 0 pips plus $8 per lot traded.
OORAFX claims to offer the MT5 platform, known for its advanced trading tools and versatility across different devices. However, reports indicate concerns about the inability to test the MT5 platform, limiting traders from assessing its features and performance in a simulated environment.
In conclusion, OORAFX offers trading services in currency pairs and CFDs. However, significant concerns arise due to the broker's lack of regulatory oversight, ongoing issues with website accessibility. These factors collectively diminish confidence in OORAFX's reliability and operational stability.
Therefore, we strongly advise against using OORAFX for trading activities. Instead, we recommend exploring alternative platforms that prioritize transparency and regulatory compliance to ensure a secure and satisfactory trading experience.
No. The broker is currently under no valid regulation.
No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website.
It claims to offer MT5 platform, but there's report that the MT5 cannot be test, which indicates it might be invalid.
$100.
Yes.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
OORAFX
OORAFX
No Regulation
Platform registered country and region
China
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info@oorafx.com
Company Summary
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