Attention! The company is suspected of fraud
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Scammers often create scam brokers one by one. Moreover, sometimes there can be dozens of such clones. Fraudsters only slightly change the data (name, contacts) and continue to deceive people. We’ll talk about one of these scams today – OnFin. The company does not plan to work honestly, it only creates the illusion of a trading process. We will talk about this in more detail in our review.
Brief information
OnFin claims that it has been providing services for more than 8 years and you simply cannot find better conditions than on this platform. Among the main advantages, the intermediary points out trading without limits, ECN technology, and a wide geography of service.
There are no investor reviews about OnFin. This immediately suggests that the broker is lying about his extensive experience. A check using the specialized whois service showed that this is indeed the case. The onfin.io website has been active since April 2024. This is a remake that has not yet earned a reputation on the Internet. Fraudsters take advantage of this to actively promote the offer.
Nothing is known about the quality of customer service. Despite the fact that the organization indicated several channels for communication with support (office in Tbilisi, email and telephone number), there is only a real email address. Ballooners need it in order to bombard their victims with spam. Moreover, scammers will be able to obtain your personal data and then resell it on the darknet.
There is no information about the leaders of the fraudulent project. They prefer secrecy because they do not plan to bear responsibility. Finding and punishing anonymous scammers will be difficult. They will once again rebrand.
Checking the legal basis
Scammers do not provide legal documents confirming the legality of providing brokerage services. However, in the footer we found information that the intermediary is authorized and regulated under the laws of the Comoros Islands. This is an offshore zone where financial criminals are often based, who do not care about international legislation and the interests of clients.
Please note that by registering on the platform of a fraudulent broker, you are risking your capital. Supervisory authorities will not be able to facilitate the return of the stolen amount. To get at least some chance of a chargeback, immediately contact professional lawyers. Study cases, terms of cooperation and make a choice.
How does OnFin offer to earn money?
OnFin offers to start cooperation with a demo account. Fraudsters want to gain your trust and then scam you out of real money. They will quickly convince you of the need to open a real account.
Main features of the commercial offer:
- 260+ financial instruments (stocks, currency pairs, commodities, indices);
- leverage up to 1:1000;
- 100+ investment strategies;
- 4 tariff plans (+ demo account);
- minimum deposit – from 1 dollar;
- opportunities for social trading;
- spreads from zero;
- no forced requoting or slippage;
- affiliate program for passive income (conditions must be clarified individually);
We did not find any reviews confirming the solvency of the brokerage organization. The platform does not even have a detailed description of the regulations for financial transactions, available payment systems and the amount of commission costs.
What are the reviews about OnFin?
OnFin is a new fake broker that has only recently started providing services. This explains the lack of reviews on the Internet. When the first revealing feedback appears, the scammers will have time to deceive many traders.
If you have become a victim of a scam, take a couple of minutes of your time to tell others about it. Post your reviews under our review.
How do scammers work?
OnFin lures beginners with a demo account for risk-free training and a low entry threshold. Scammers can even allow you to withdraw a penny profit in order to interest traders in further cooperation and increasing trade turnover.
Attackers are skilled at extortion and create the illusion of comfortable work. They will wait until the user tops up the account with a large amount and set up a hacker attack or accuse the user of violating the agreements. After this, his account will be blocked forever.
Results of the comprehensive review
Cooperation with OnFin is dangerous for your capital. This is a new clone from experienced scammers. Do not be fooled by the empty promises of these scammers if you want to make money in the financial markets. Look for a good broker which has all the legal documents in order and also has positive user reviews.
