Opendealbroker Review: Learn More About this Broker

Opendealbroker Review

Involving yourself, your energy and funds in dealing with this fraudulent broker can be perilous. Enter the Opendealbroker review, which will show you the reasons why you should avoid this scammer at all costs. First, we will provide an overview of the company and then cover its (un)regulated status and the trading conditions it offers.

The table below should inform you about some basic features of Opendealbroker and the following sections will provide further analysis. 

Opendealbroker Quick Overview

Minimum Deposit$500
Review Rating1/5
Broker TypeForex, CFD

There is no mention of the company’s owner on its official website. What’s even more alarming is that links at the bottom of the “Home” page such as Privacy Policy, Terms or Address simply take you to the “Why Choose Us” page. Also, several other links on the website are either broken or take you to other sections without any logic.

Furthermore, the shady broker states it is international and regulated by the IFSC while also providing a certificate from the Financial Commission. The next section will cover this in more detail. 

Regulation and Security at Opendealbroker

The information on Opendealbroker’s website is quite misleading and all over the place. One of the first things we noticed is the suspicious IFSC (Financial Securities Commission of Belize) license. Of course, there are no traces of the fraudulent broker on the IFSC website.

The IFSC license link takes us to the SEC Edgar Filing Tracker website, which has a record on Open Deal Broker Llc, the alleged owner of our subject based in New York. This entity is indeed regulated by US FINRA (Financial Industry Regulatory Authority) but has no website. If the broker were really regulated, why hasn’t it included the NY address on its “Home” page?

There is also a Certificate of Membership issued by the Financial Commission and yet no results on the Open Deal Broker Llc on the commission’s website. This is all messed up and serves the purpose to convince you that you’re dealing with a legitimate company when in reality, nothing could be further from the truth. 

Available Trading Platform at Opendealbroker

The platform that Opendealbroker offers looks pretty awful and lackluster. It claims to facilitate binary trading but has no standards on its platform. Apart from some basic TA, it is very limited.

Coupled with the fact that the broker is an outright scammer, avoid this shady software and binary brokers in general. Trust those that offer safer solutions and reliable trading software such as the industry’s leading Meta Trader 4 and 5.

Deposit and Withdrawal Options

In the FAQ section, the broker says that the minimum deposit is $500, which is incredibly high for anybody to risk it. The only acceptable method is cryptocurrencies – Bitcoin, Litecoin, Ethereum and Dogecoin. The minimum amount of withdrawal is $10,000 and processing takes 72 hours. 

Opendealbroker says it does not charge any fees for transactions. Everything mentioned points to the obvious – this is a scam designed to defraud you and render your wallet empty. Bear in mind that fraudsters like this one have many tricks up their sleeve such as perplexing clauses and conditions that disallow you to make any withdrawals.

Offshore Brokers Scam Tricks

All these scam brokers operate in a similar fashion. They pretend to be courteous in order to gain your trust and get closer to your funds. Then, they will require you to make an insane initial deposit, which is actually their prize. If you decide to continue investing, all the better for them. This scammer, for example, offers binary trading.

To beginners, binary options may seem attractive since they are easy to figure out but in reality not much different from casino gambling. They can result in large accumulative losses and should be avoided.

Another one of the fraudsters’ signature conditions is crypto payments since they are hard to trace and allows the wrongdoers to remain anonymous. However, it is possible to track the transaction made via crypto to a wallet within an exchange and then request a refund.

The Best Forex Brokers

If you want to pick up trading, look no further than these legitimate brokers. They are guaranteed to provide the best bang for your buck. The list below boasts phenomenal ratings and proudly displays real licenses, unlike the Opendealbroker. Whichever one you choose, you won’t regret it! 

BrokerCountryRatingMin. DepositWebsite
FXTM BrokerCyprus, UK, Mauritius4.5$10Forextime.Com
OctaFX BrokerCyprus, SVG4.4$100OctaFX.Com
FP Markets BrokerAustralia, Cyprus4.7$100FpMarkets.Com
XM BrokerCyprus, Belize, Australia4.7$5XM.Com
HFM HF Markets BrokerCyprus, UK, South Africa, UAE, Kenya4.3$5HFM.Com
FBS BrokerCyprus, Belize, Marshall Islands4.85$100FBS.Com

Opendealbroker Summary

  • A lot of lies have been spewed on the fraudster’s website regarding licenses and regulations;
  • The minimum deposit is way too high for an illicit broker; 
  • The trading platform it offers looks impoverished and lacks several important features;
  • Opendealbroker accepts only payments via cryptocurrencies;
  • The website is jumbled and disorganized.

FAQs About Opendealbroker Broker

What Are Opendealbroker Deposit Methods?

Opendealbroker says in the FAQ section that it only accepts crypto payments.

How Do I Withdraw my Earnings at Opendealbroker?

The broker did not elaborate much on withdrawals except that the minimum amount is $10,000 and that processing takes 72h.

Is Opendealbroker Regulated?

Opendealbroker claims it is regulated by the IFSC, FINRA, and the Financial Commission but those are all lies.