Note: OGFX's official website https://www.ogfx.com.au/ is currently inaccessible normally.
OGFX is a financial company registered in Australia. It offers two types of accounts, and the leverage can be up to 1:400. The minimum deposit is relatively high, which is 1,000 dollars. What's more, its regulatory license is suspiciously cloned.
Pros and Cons
Is OGFX Legit?
Investors should exercise caution when dealing with KOSEI Securities as there are red flags regarding the legitimacy of their regulatory claims. The Australian Securities and Investments Commission (ASIC) license number provided by the broker (License Type: Investment Advisory License license number: 332890) is suspected to be a clone. This poses a significant risk to investors who may unknowingly trust the legitimacy of the broker based on false regulatory credentials.
Furthermore, the inaccessibility of their official website adds another layer of concern regarding the reliability and transparency of their trading platform. A reputable and trustworthy broker would typically have a user-friendly website that is easily accessible to clients for account management and trading purposes.
Besides, this OGFX is a clone broker posing as a legit one to misunderstand people, and it has nothing to do with another Ocean Global Markets (short for OGFX). Please be aware of the potential scam.
These warning signs should not be taken lightly, as they suggest a higher level of risk associated with investing in OGFX.
WikiFX Field Survey
WikiFX field survey team paid a visit to this OGFX‘s official address at Suite 706, 1-5 Railway Street, CHATSWOOD, NSW 2067. However, the team confirmed that the broker OGFX’s real address is not consistent with its regulatory address.
Account Type
OGFX offers 2 types of accounts: Standard, and Pro. Free demo accounts are also available.
Leverage
For both accounts, the leverage can be up to 1:400. High leverage may bring potential risks, so careful considerations are needed.
OGFX Fees
The EUR/USD spread is floating around 0.2 pips. The commission fee is $18, and swap fees are not needed.
Trading Platform
OGFX provides its clients with access to the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features.
One of the standout features of MT4 is its support for automated trading through Expert Advisors (EAs). This feature enables traders to automate their trading strategies and execute trades based on predefined rules and parameters. Moreover, MT4 provides real-time quotes, news updates, and customizable alerts.
