OBOFX-Some Important Details about This Broker
Abstract：Registered in the Saint Vincent and the Grenadines, OBOFX is an offshore forex broker providing easy access to a massive financial market, and investors have the flexibility to choose from a range of financial instruments, such as Forex, Gold, Silver, Indices, Commodity CFD. With the Climax Prime platform, four trading accounts are available: Micro, CurrencyX, Premium and Zero, and the minimum deposit to invest with this broker starting at $1, leverage that can be used up to 1:1000. OBOFX is not subject to any regulation, and trading with an unregulated forex broker is a surefire way to lose your money. please be aware of the risk.
General Information
Registered in the Saint Vincent and the Grenadines, OBOFX is an offshore forex broker providing easy access to a massive financial market, and investors have the flexibility to choose from a range of financial instruments, such as Forex, Gold, Silver, Indices, Commodity CFD. With the Climax Prime platform, four trading accounts are available: Micro, CurrencyX, Premium and Zero, and the minimum deposit to invest with this broker starting at $1, leverage that can be used up to 1:1000.
OBOFX is not subject to any regulation, and trading with an unregulated forex broker is a surefire way to lose your money. please be aware of the risk.
Market Instruments
With the OBOFX platform, four classes of trading instruments including Currency Pairs, Precious Metals (Gold and Silver), Commodities, and Indices are all available through this brokerage platform.
Account Types
With the OBOFX platform, four tiered trading accounts are on offer: Micro, CurrencyX, Premium and Zero accounts. To open a Micro account, only $1 is enough, friendly to beginners. The CurrencyX requires an initial deposit of $500, and the Premium account asks for an initial deposit of $1,000. The most expensive account, the Zero account, requires a high deposit of $25,000.
Aside from live accounts, demo accounts are also available for beginners to gain a feel of trading environment and practice their trading skills without risking their real capitals.
How to open an account with OBOFX？
Opening an account with OBOFX is an easy and simple process:
1. Click the “Open Live Account” link, and fill up some required details on the popping-up page.
2. Upload your personal data for this company to verify your details.
3. Choose the preferable payment methods, fund your account and start to trade with this forex broker.
Leverage
When it comes to leverage, OBOFX allows its clients to use leverage of up to 1:1000, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.
Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.
Spreads & Commissions
Spreads and commissions are tightly associated with account types. The Micro, CurrencyX, and Premium accounts provides a zero-commission trading environment, accompanied by average spreads, starting at 2 pips, 1 pips, and 2 pips, respectively. The Zero account provides spreads from pips, with a certain amount of commission charged.
Trading Platform
OBOFX provides access to the industry-leading MT5 trading platform, which can be accessed on any device, Windows, Desktop, IOS, and Android. The MT5 trading platform allows one-click operations for opening and closing trades, setting stops and entry limits, placing direct orders, setting and editing limit and stop loss, as well as charting.
Aside from the MT5 trading platform, a Webtrader is also available.
Payment Methods
The minimum deposit to invest with OBOFX is $10, and this broker allows its clients to make a deposit and withdrawal through multiple payment methods, including Wire Transfer, CASHU, Webmoney, VISA, FasaPay, Ukasj, Neteller, Skrill, and MasterCard.
Customer Support
Culture Capital hypes that it offers 24-hour around-the-clock customer support. Clients have any inquiries or trading-related issues can also get in touch with Culture Capital through the following channels:
Telephone: +18555666947
Email: info@obofx.com
Online Chat
Registered Company Address: Suite 305, Griffith Corporate Center,Beach Mont, Kingston, PO Box 1510
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
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