If you came here looking for an OmegaPro review, you are in the right place.
Currency trading, especially in the Foreign Exchange (FOREX) market is booming, and Omegapro is one of the brokers that are playing a big part.
Over the last couple of months, questions have been raised concerning the legality of the transactions facilitated by Omegapro.
As a concerned financial analyst, I deemed it important to put together this Omegapro forex review to explain the true position of things so you don’t end up losing more money than you make.
As you know, the forex market is volatile, and a lot of scams are out there. So, take your time to read this concise Omega MLM review to find out the good and the bad sides of using Omegapro.
- 1 OmegaPro Review: What is Omegapro All About?
- 2 Is Omegapro Legit?
- 3 The Omegapro Trading Software
- 4 Before You Start Trading: How to Deposit Money in Your Omegapro Account
- 5 Omegapro Packages
- 6 Is Omegapro a Scam?
- 7 1. Anonymity
- 8 2. Difficulty to Withdraw
- 9 3. Scam Alert
- 10 Final Words
OmegaPro Review: What is Omegapro All About?
Omegapro is a UK-based CFD brokerage that allows you to earn passive income in the Foreign Exchange (FOREX) market.
There are 2 major sides to the income opportunities presented by this platform. On the one hand, traders can use its web-based platform to trade on a variety of asset classes, including:
- Currency pairs
- Commodities and
On the other hand, you want to earn a passive income instead of trading. In this case, you are going to complete your Omegapro registration so that you can access the Omegapro packages.
Worthy of mention is that the investment program offered by Omegapro has different income models that can pay as much as 300% Return on Investment (ROI) in 16 to 18 months.
That said – let us now dive into other technical aspects of the Omegapro forex review.
Is Omegapro Legit?
A lot of questions have been asked about the legality of earning passive income or actively trading in the global financial market via Omegapro.
I am sure you are asking similar questions and reading this omegapro review to find out if they are legit or not.
The fact is that the Omegapro team hasn’t done much to convince their potential investors that they are genuine.
For example, this brokerage was reportedly launched in 2019, but they have consistently claimed that they are yet to launch the exchange – which is a red flag.
If the exchange isn’t ready, how has the broker being able to pay its investors over the last couple of years?
More disturbing is the fact that the Coming Soon function on the website doesn’t seem to be working, and there is little or no information about when the exchange will be launched.
The Omegapro Trading Software
As the dust raised by the absence of an exchange and trading algorithms is yet to settle – there is another bigger cause for concern, which I’d dive into deeper in this OmegaPro review.
One would expect to see the MetaTrader 4 Trading Platform, which is by far adjudged one of the best terminals for Forex trading.
Instead, Omegapro replaced MetaTrader 4 with a web-based trading platform so you can start trading via its website.
Besides, the legality of this broker is once questioned because of the absence of the demo account option to help you master the Forex market.
However, Omegapro makes up for that by providing a variety of trading tools you may want to use to advance your trades.
Some of the tools include:
- Technical indicators
- Advanced charts
This omegapro review will not be complete without this table detailing some of the trading features that are missing on Omegapro:
|What is Missing on Omegapro Forex Trading Platform?||Features You Will Like|
|Absence of sophisticated trading algorithms based on AI.||The brokerage provides a variety of Expert Advisors (EAs)|
|Doesn’t provide information about the minimum deposit, spread and leverage.||Provides an advanced charting package.|
|Omegapro doesn’t provide the MetaTrader 4 Trading Platform.||Omegapro offers an extensive back-testing environment.|
|There isn’t any available demo account or test-drive.||Offers lots of technical indicators.|
Before You Start Trading: How to Deposit Money in Your Omegapro Account
Omegapro Forex trading platform offers you a variety of options as far as depositing money in your account is concerned.
Aside from supporting debit cards by MasterCard and VISA, Omegapro also provides you with many other options as you will discover in this omegapro review.
You can also fund your Omegapro trading account via cryptocurrencies.
Yet, there are some causes for concern on the current payment options on the platform. There is an obvious fact that Omegapro expects you to deposit or add money to your account via cryptocurrencies.
From the look of things, you may be at the receiving end of the platform packs up tomorrow because there is little or no way to trace cryptocurrency payments.
More disturbing is the fact that Omega pro doesn’t support other widely used payment methods, such as Skrill, Neteller and Bank Wire Transfers.
Likewise, you may have a hard time withdrawing your earnings from the Omegapro Forex trading platform because the withdrawal options are limited as well.
The variety of packages offered by Omegapro is meant to cater to the income options for people who don’t want to take the risk of trading on the platform.
As pointed out earlier, the Omegapro packages are designed to pay as much as 300% ROI in one year and a half (18 months).
Such high-interest rates could be a pointer to a Ponzi scheme that takes money from one party and pays the other.
Here are some of the Omega Pro Compensation Plans:
- Start Up – $100
- Basic Trader – $500
- Light Trader – $1000
- Pro Trader – $3000
- Advanced Trader – $5000
- Tycoon Trader – $8000
- Premium Trader – $10,000
- Master Trader – $15,000
So, is Omegapro truly a Multi-Level Marketing (MLM) platform or sorts?
Omega pro has a referral based system like a MLM system.
However some of the users complain about they have to wait for many days before they could access their funds.
The scheme run by Omegapro is run in a way that it depends on the new users to fund or add money to their accounts so that the previous users cum investors can be paid.
With this pattern of payouts, it is easier to discern that Omegapro depends on the money they get from deposits.
That goes a long way to explain the delays some of the investors experience when they want to withdraw their earnings.
Thus, when there are no new deposits on the Omega Forex trading platform, it may likely signal the end of the road for investors.
Is Omegapro a Scam?
In this omegapro review, it is also pertinent to address this question because some traders appear to have made some money from Omegapro while some seem to be licking their wounds.
There are several concerns you should be aware of when considering Omegapro.
Some of them include:
Omegapro is yet to do a great job of earning the confidence of some investors because the platform is shrouded in mystery.
From the identity of the Omegapro CEO to the inability to adhere to strict financial regulations, Omegapro is more of an anonymous investment platform.
It is not yet clear who the owner of Omegapro is because two names are in contention. The supposed owners are:
- Dilawar Singh and
- Andreas Szakacs
Also, the supposed company registration number (25857BC2020) didn’t return a favorable result after several searches were run on multiple databases.
2. Difficulty to Withdraw
After depositing money into your Omegapro account, you may want to withdraw it later.
However, this is the point where the legitimacy of this Forex broker is questioned.
According to feedback from some users, you might find it difficult to withdraw your money because the option to do that is either missing or not available when you want to withdraw.
The system has been designed to keep postponing your withdrawal timeframe until you run out of time file for a chargeback with your bank to get back your money.
3. Scam Alert
Already, CNMV, a Spanish financial regulator raised an alarm that Omegapro is not genuine because the company isn’t licensed to provide financial services.
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If you want to make money from the financial market, it would do you a world of good to stay away from Omegapro, except if you understand the risks and you have a mentor to guide you through their system.
As much as the Omegapro compensation plan is enticing, you may end up losing more money than you make.
Always consult a financial expert to advise you and understand the risks involved before diving in.
So did you get value from my OmegaPro review?
Agree or disagree?
You can read up more on OmegaPro from their official website.