Opofinance review

Opofinance review

Min deposit: 100 $
0

Reviews

Company Name
Opo Group Ltd
Rating
Headquarters
Seychelles / Saint Vincent and the Grenadines
Regulation

OpoFinance is an offshore broker with a license from Seychelles and FINACOM, an independent regulatory body. The main branch is registered in Saint Vincent and the Grenadines, the only country without financial supervision.

US Traders Accepted
no
Bonus Type
No
Bonus Size
No
Deposit Options
No
Deposit Currencies
USD
Trading Platform
MT4, MT5
Trading Instruments
No
Online Since
2021
Customer Support Types
Phone, live chat, email, web form
Languages
7 language support
Demo Account
No
Cons
cons
  • Lack of proper regulation
  • High spread in more general broker accounts
Description

Opofinance Overview

Oppo Finance Broker was established in 2021 and is considered a newly established broker. Brokers with less than five years of experience face the challenge of gaining customers’ trust, and judging the security of freshly established brokers is not an easy task at all. We hope that the Opofinance broker will be able to cope with this challenge until five years of experience.

Oppo Forex broker is registered in Saint Vincent country. Of course, all newly established brokers have such a problem. On the first page of its website, Oppo Forex, perhaps due to psychological security pressures from the customers, has put the term regulated broker. Still, this broker does not have any regulation, but with the research done by the Seven site, Oppo Forex is looking for rules. In any case, we hope that Oppo Finance can overcome the security challenges and get the support of the regulators.

Trading Platform

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, OpoFinance offers you MetaTrader 4.

Trading Product

Forex Trading

Traders looking for a new potential income stream actively trade the Forex market every day. With Opofinance, you have the opportunity to trade Forex CFDs with dozens of currency pairs.

Spot metals

At Opofinance, we make metal CFD trading accessible with a range of assets to choose from, offering a leading platform with fast and simple professional trading and analysis tools.

Spot energies

Opofinance brings the Commodities market to your home, allowing you to trade CFDs on the fluctuating prices of Commodities on energy goods, such as oil, natural gas, or agricultural goods.

CFD Shares

Opofinance allows you to invest in CFDs using leverage suited to your financial needs at low prices, giving you the ability to generate profit faster and more impactful.

Trading Account

OpoFinance Accounts

Customers have 4 OpoFinance account types at their disposal.

  • Standard Trading Account – Minimum Deposit $100, spread 1.8 pips, no commissions
  • ECN – $100, spread 0.8 pips, $6 commission
  • Social Trade – $200, 2.5 pips spread, market order execution
  • ECN Pro – $5,000, no spread, $4 commission

Besides OpoFinance’s minimum deposit, accounts differ mainly in trading costs.

Opofinance TRADING CONDITIONS

Opofinance offers access to the most popular markets – forex, metals, energies, shares, and cryptocurrencies. The broker allows you to open an account for as little as $100 which is indeed very affordable. However, we would still suggest that you check out some better alternatives for an affordable broker.

Forex brokers offering Micro accounts

Spread and Commission

The broker does not charge commissions on the Standard account we opened – but their spreads were higher than average at 1.9 pips on EURUSD. Many legitimate brokers can offer much lower rates – even lower than 1 pip. If you would like to get access to better spreads with Opofinance, you would have to open a different account type and pay additional commissions. Although these numbers are definitely not horrible we do not see why you should invest with offshore companies when many legitimate brokers can make you a better offer.

Forex brokers offering the lowest spreads

The maximum leverage Opofinance provides access to is 1:500. Offshore brokers, unlike their EU, UK, or Australia-regulated counterparts, are free to offer any leverage they decide. That is why it is up to you to establish which rates would be higher than you can handle – trading with high leverage can lead to huge losses in volatile markets or when you are not experienced enough. If you would like to trade with ratios of 1:500, do so cautiously – and with a legitimate broker.

Forex brokers offering leverage of 1:500

DEPOSIT AND WITHDRAWAL METHODS AND FEES

Opofinance accepts various payment methods – wire transfer, FasaPay, PerfectMoney, TCPay, China Union Pay, Advcash as well as Bitcoin. We do appreciate the variety – often enough, scam brokers only accept crypto payments since such transactions are irreversible. We would, however, still not recommend you to deposit with Opofinance – if the broker proves to be reliable in the future, we might change our position but for now they are just another relatively anonymous offshore broker who might just run off the moment you deposit.

Customer Support

Do you have any question or find any trouble related to OpoFinance? If you do, you should reach OpoFinance's support to get the information that you need. Here is the detail of the broker's customer support:

  • Office Support
  • Email Support
  • Chat Support
  • Call Support

FAQ About OpoFinance

Is OpoFinance a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term “a good broker” can vary in meaning. You can decide for yourself if OpoFinance is a good broker for you or not by reviewing the criteria. In general, OpoFinance provides trading service in Forex , CFD , Indexes and Cryptocurrencies . As for the payment methods, you can choose between Bitcoin, Credit/debit cards, Dash, Ethereum, Litecoin, Monero, NEO, Perfect Money, Ripple, Tether (USDT) and Wire transfer. The customer support is available via Email, Live chat, Phone, Telegram and WhatsApp.

What is the minimum deposit for OpoFinance?

The starting capital in OpoFinance is $100.

Is OpoFinance regulated?

OpoFinance is regulated by FSA (Seychelles) SD124 and The Financial Commission 07.06.2021. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.

Is OpoFinance legit?

OpoFinance is a brokerage company offering trading services for clients since 2021 with offices in Saint Vincent and Grenadines.

 

 

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