OpenTrading
We checked OpenTrading against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
OpenTrading claims to be a regulated firm while presenting neither details about its company information (company name, office address) and regulations, nor legal documents (terms & conditions, risk disclosure, etc.). Lacking such information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here. Downloading its official MT5 trading platform, we found this broker locates in the British Virgin Islands. However, we did not find any match results to OpenTrading in the British Virgin Islands Financial Services Commission (BVI FSC), which is the national financial regulator. The truth is, OpenTrading is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report OpenTrading.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.