SogoTrade Fined $75K Amid Compliance Failures
FINRA fines SogoTrade $75,000 for market access control failures as TopFX advances synthetic indices trading and 24/7 multi-asset solutions.
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Abstract:Has your deposit and withdrawal scenario worsened after the initial good experience at OmegaPro, a UK-based forex broker? Does the broker ask you to invest when withdrawing your funds? Did the broker officials trap you with their false promises of compound interest on your deposit? Have you found it impossible to transfer funds from your OmegaPro login to another broker’s account? Do you witness a lack of support when dealing with these unfortunate trading circumstances? These are no longer isolated complaints — they have allegedly become the reason for OmegaPro’s tarnished trust and reputation within the trading community. Read on as we share the OmegaPro review in this article.

Has your deposit and withdrawal scenario worsened after the initial good experience at OmegaPro, a UK-based forex broker? Does the broker ask you to invest when withdrawing your funds? Did the broker officials trap you with their false promises of compound interest on your deposit? Have you found it impossible to transfer funds from your OmegaPro login to another broker‘s account? Do you witness a lack of support when dealing with these unfortunate trading circumstances? These are no longer isolated complaints — they have allegedly become the reason for OmegaPro’s tarnished trust and reputation within the trading community. Read on as we share the OmegaPro review in this article.
According to a trader, the initial experience with OmegaPro was good as he was able to withdraw profits monthly. Suddenly, the website failed to operate smoothly, prompting the trader to shift funds to another brokers trading account. However, this could not happen. The trader further concedes that it is now even difficult to deposit funds. For a full OmegaPro review by the trader, check the screenshot below.

OmegaPro often disallows traders from accessing their hard-earned capital. It is accused of making traders invest more when they seek fund withdrawals. As traders funds pile up significantly with multiple deposits, the broker stops responding, further adding to the chaos. Here is a complaint that demonstrates this trading issue.

Traders also accuse OmegaPro of denying fund withdrawal access using the deceptive ploy of compound interest, which, if true, can definitely raise the invested capital exponentially. However, the trader should be able to access that capital, sometime. Unfortunately, this just turns out to be a false promise when considering this traders complaint.

A trader accused OmegaPro of not allowing the fund transfer to the brokergroup, which the former had switched to. OmegaPro attributes this as the maintenance work that led to the delay. However, the trader could not receive a significant chunk of his capital invested on the platform. Here is a detailed look at the complaint.

These complaints spark debate about whether OmegaPro is a scam or legit forex broker among traders? To know the answer, the WikiFX team went beyond complaints to finding the brokers regulatory status. The investigation disclosed that OmegaPro does not have a license to carry out forex business, answering the above question. Increased trading investment risks led the WikiFX team to give OmegaPro a low score of 1.57 out of 10.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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