DEOASIS LIMITED Review – Inside a Suspicious Brokerage Firm

Let’s talk about DEOASIS LIMITED. It is a trading company based in the United States that provides various tradable assets such as forex currency pairs, precious metals, crude oil, and cryptocurrencies.

However, our detailed research of this firm’s questionable actions has led us to numerous findings as to why traders shouldn’t trust them, elaborated on in this DEOASIS LIMITED review. Are you prepared to delve into the specifics? Keep reading to find out more about this company.

Regulatory Status and Legal Info

We are in for a ride with this DEOASIS LIMITED regulation status. The company is skilled at masking the truth of its conduct. It is based in the US and allegedly holds an NFA license while also being compliant with ASIC regulations in Australia. However, there is nothing, and we mean literally no evidence to verify that fact. 

Our research has revealed that the company holds a license number that is identical to an entity with the same website appearance, abhkfx. Matching license number, is it a coincidence? We don’t think so. 

The potential breach of the NFA license’s trade domain raises concerns about regulatory transparency. This is a huge red flag for potential clients and investors regarding the company’s operations. 

Warning From the FCA

On January 29th, the FCA issued a warning against DEOASIS LIMITED, stating that the broker is providing and promoting financial services without proper authorization and with negligence, which poses risks to users dealing with them. 

The regulator urges traders to exercise caution and avoid engaging with this firm to mitigate the potential for fraud. In the UK, nearly all firms and individuals must obtain authorization from regulatory bodies to conduct or promote financial services. 

However, this firm is not authorized by the appropriate regulatory authorities, which usually means that they may be exploiting users’ trust while disregarding legal standards. As a result, dealing with this entity means that users may not have adequate protection, such as the Financial Services Compensation Scheme (FSCS), when facing financial losses. 

In addition to the FCA, we’ve got a similar warning from the Italian CONSOB, speaking about this broker’s illicit activities across the EU.

Trader Reviews – User Experience

Another red flag incoming. In the absence of DEOASIS LIMITED reviews, the authenticity of the platform comes into question. We are all aware that reviews serve as a vital source of insight and validation for potential clients, offering firsthand comments. 

The lack of reviews leaves users without trustworthy feedback, raising concerns about the company’s reliability. Exercise extreme caution when encountering such companies, and implement thorough research to avoid falling victim to the DEOASIS LIMITED scam.

Areas of Activity – Where’s DEOASIS LIMITED Present?

What we have found out about DEOASIS LIMITED is that it conducts its shady dealings with clients from these specific countries:

• Cyprus
• France
• United States
• Norway
• Germany  

An interesting fact is that all these countries have stringent laws considering the laws of brokerage firms. Regulating companies is their priority, and since DEOASIS LIMITED isn’t licensed, that could cause major issues.

For example, regulators in the United Kingdom impose strict rules on broker companies to guarantee transparency, fulfill client’s expectations, and maintain the integrity of financial markets. Being non-cooperative can result in severe penalties. 

If you are a trader from these countries and looking for a company to start your finance journey, we highly suggest you don’t make deals with the DEOASIS LIMITED broker company.

Available Platform and Trading Tools

The operators claim they have the world’s most widely used online trading platform, ST5. In reality, it’s just a web DEOASIS LIMITED platform that offers foreign exchange, commodities, stocks, and indices.

As we emphasized before, an unregistered company can only indicate that the web portal is manipulated and rigged. Nevertheless, be cautious even considering this type of entity. If you are looking for useful trading tools, be sure to check out Cheddar Flow.

Trading Conditions – Leverage, Speads, Commissions, Fees

Spreads, the difference between the bid and ask prices, and commissions, the fees for executing trades, are crucial in assessing trading costs and potential profitability. On the other hand, leverage represents borrowed funds that can be used to multiply potential profits but also potential losses, meaning it’s highly risky.

The broker offers a maximum leverage of 1:400, which is incredibly risky. Furthermore, it exceeds the restrictions legitimate American (1:50) and Australian (1:30) providers must adhere to. If you are on the lookout for a valid trading education, you may like Synapse Trading.

Trading costs are shrouded in mystery; the phony failed to disclose any relevant information regarding the spreads, and commissions. This ambiguity raises red flags, as upfront information about costs is vital for trust and informed decision-making.

Unclear Deposit and Withdrawal Process

DEOASIS LIMITED has not revealed key details about the funding process on its official web form, giving the impression of insufficient security of users’ funds.

Since users are unable to access complete details regarding deposits and withdrawals, this contributes to a lack of transparency and deficiency in supervision, which decreases trust in DEOASIS LIMITED.

Conclusion

Let’s recap – DEOASIS LIMITED is a platform run by anonymous con artists who intend to scam individuals from European countries such as Cyprus, France, Germany, Norway, as well as US traders.

Given all that we have revealed in our review, it’s safe to say that DEOASIS LIMITED is a company suspected of fraudulent activity. Since they operate as a foreign exchange trading platform, having a license is mandatory. Yet, they don’t have one, meaning they violate the law. The UK’s FCA gave out a notice about this entity’s monkey business.

Limited information, lack of customer support, and much more only affirm our verdict. At the end of the day, you reap what you sow. The financial swindlers tried to defraud users and ended up getting exposed. We advise you to steer clear of this platform and avoid potential pitfalls. 

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