Trading is an important part of the financial world. It helps the economy by making loans available to borrowers, it helps the growth of products and services, and it helps people to invest in various areas of the economy. Our economy would be seriously degraded if trading could no longer take place. OvniTrade is one of the latest online trading platforms that provide organizations and individuals with a system to trade within the market. This review will exam OvniTrade to determine if it is a scam or a legitimate way to make money through the trading outlet.
What is Ovnitrade?
Ovnitrade was created to make the process of Forex trading an easy thing to do. Ovnitrade defines itself as a digital innovation company that helps retail traders by providing them with education and knowledge about the complex world of Forex trading. This system also provides people with the tools they need to maximize their experience within this field.
The goal of providing this knowledge and experience is to help people to understand how this process works. Forex trading is not for the faint of heart, the inexperienced investor or risk-taker, or for people who foolishly believe they can jump into this market and become instant millionaires. Ovnitrade also bills itself as a trading academy. What this means is that this online platform offers lots of information to consumers about the best way to risk their money in the Forex market.
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A Quick Explanation of Forex
FOREX is an acronym for Foreign Exchange Market. This market is designed for people to buy and sell currencies from around the world. People who trade through the Forex market will buy one type of currency and sell another. The market works by people buying and selling at the same time. Some of the most popular currencies within this market is the US dollar, the Euro, Japanese Yen, and Australian dollar.
Transactions from one currency to the next are how the Forex market operates. Some of the most popular transactions that take place is US dollars being converted into Euros and Australian dollars to US dollars. As a side note, most traders are either spending or purchasing US dollars for most Forex transactions. This means that the US dollar carries the most weight or is considered the most important currency in the world.
This market is considered the largest and most liquid market on the planet. This simply means you can buy and sell your products (currencies) and immediately get the benefit from your purchase. This works very well when you use highly valued money to purchase a lot of the lower value currencies. For example, you can use US dollars to purchase lots of currency from a country such as the Guinea Franc which is an extremely low-value currency.
You should also know that you could theoretically purchase lots of dollars from low-value currencies and become a millionaire in the place where that currency is used. However, there are market forces that will make doing this a lot harder than it seems. Remember, most of the world is vying to get rich and to have more money than everybody. This of course creates a never-ending stream of competition. Unless you’re Jeff Bezos with billions of dollars at your disposal or you’re more wealthy than the U.S. government; you probably will never achieve that dream.
Ovnitrade can mislead you into believing that you’re going to jump in and exploit this market for true riches, once you know how it works. It’s possible, but it’s akin to hitting the lottery for a large sum of money. You can make some money through this system. However, don’t go into this system thinking you’re going to make a killing within a short amount of time. There are some people who probably could do this. However, they are the exception and not the rule. Most people will lose their money messing around in the Forex market trying to get rich.
OvniTrade and the Bitcoin Currency
Here is another aspect of OvniTrade that you must know. This system also trades in Bitcoin. In case you didn’t know, Bitcoin is a digital type of currency and it is the latest money system that has emerged on a global scale. Bitcoin is the new money currency on the block. This form of currency is still being accepted within society and people are trying to figure it out.
OvniTrade also teaches people how to trade various forms of cryptocurrencies. You should know that Bitcoin is a cryptocurrency. Bitcoin is the only digital currency that can be generically called Bitcoin or cryptocurrency. However, other cryptocurrencies are usually called by their names and are not considered standards within this monetary system like Bitcoin. OvniTrade must be careful about the information they provide about cryptocurrencies. This market is still developing. People should know what they’re doing before they just in it and try to exploit it.
OvniTrade Technology Tools for Forex Trading
OvniTrade states that they have the most regarded online trading programs or courses for their members. OvniTrade also does its best to provide its clients with technical and fundamental information about the Forex market. Traders will receive various market data and important news from OvniTrade. The online trading company states that they will help people to figure out how the market is moving and what are the best trading opportunities.
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How to Start Trading with OvniTrade?
Here is the steps you need to take to start trading with OvniTrade:
• First, you need to register with the site. Once you register with OnviTrade they will provide you with package prices.
• Next, you’re going to need to sign up with VantageFX. This is a broker partner with OvniTrade. Apparently, they’ll be handling your account when you are ready to buy and sell within the Forex market.
• The trading tools offered by OvniTrade will help you with analyze the market before you start to trade. The tools will be made available to you once you set up your account.
Here are the costs of pricing packages:
• Safe is the lowest-priced package. It allows users to utilize a maximum of 30% of their deposited capital. They can earn between 5% and 10% on a monthly basis. Members will receive this benefit for 4 years before they will need to register again. Works in Day trading. Use VT Market as broker regulated.
• Middle Safe if the next level. This tier also allows users a maximum of 30% of their deposited capital. They can earn between 10 and 20% per month. This tier is good for 1.5 years until the subscription will need to be renewed. This tier is also a part of Day trading. Vantage FX is the broker that regulates this level.
• The Aggressive level is the last. This tier provides members with 70% of their deposited capital. At least 99% of their trades are closed during the day. Earnings on profits are between 20 and 50% per month. Members who purchase this tier can utilize it for at least 4 months before they must renew their subscription. Uses VT Market.
Keep in mind that these might not be the actual levels. They don’t post information about prices directly onto the site. That doesn’t make sense. Some people who claimed to have used the program state that you can invest between $20 to $2500 to get started.
Those levels are
When you purchase the $100 level or above you will then be given access to automatic trading. Again, this part of the OvniTrade’s subscription plan is not clear.
Ways to Earn Money with this Program
There are 4 primary ways that you can earn money with OnviTrade. They’re listed below:
• Become an affiliate and recruit more people to the OnviTrade program.
• Collect a uni-level bonus. Simply means that you’re making OnviTrade enough money for them to give you something for your effort.
• Residual cycle bonuses you get from people who join and stay with the program.
• The career plan option basically has you sign up with OnviTrade so you can become a lifelong (or long-term) member of this online business.
The payment options for this site is very unclear and very confusing. Also, how they pay their members is also very confusing as well. We’ll get more into this at a later time.
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OnviTrading is Overnight Bot Trading at Its Finest
Here is another point that you need to know about OnviTrading. The name OnviTrading is derived from the concept of “Over, Night, Trading”. This means that most of the transactions take place during the night. Robots carry out the trading during the night-time hours. Apparently, this form of trading happens in the Forex market.
After-hours trading takes place after the market closes. This type of trading is carried out through ECNs or electronic communication networks. The ECNs work by matching potential buyers and sellers without using the normal Forex exchange. This type of investing is very risky because the prices change during the night-time hours.
Keep in mind that OvniTrade expects people to trust their bots to do their trading. Even if they do have the ability to trade by day (with some packages) they still have to rely on bots to perform these transactions overnight.
Seriously, you might not be able to handle this type of trading even with OnviTrade’s help. Remember, if you don’t know how to navigate the Forex market, don’t jump in thinking you’re going to master it – even with an online company’s guidance. We’ll sum this aspect of the site up at a later time.
The OnviTrade Team
The OnviTrade team supposedly has a team of entrepreneurs who specialize in various fields. Their expertise supposedly helps to deliver outstanding performance for their trading service. The only problem is that no team or individual is named. Nobody can say who has created this site and who the team of people are that run it.
The site also provides legal documentation that supposedly shows proof that they are a legitimate regulated trading company. This is another area that we’ll discuss later within this article.
How to Contact OnviTrade
The site doesn’t provide an address to a physical location or telephone number. However, there is a phone number listed on a YouTube video that supposedly is connected to the site. The number that has been listed seems to be from an Armenian location. That number is +91 9826441734. The site’s email is email@example.com.
About OnviTrader Site
The OnviTrader site is straight forward but some things are also missing. The links at the bottom of the page don’t work. You would think that a site that is trying to recruit people to trade would have a site that works right. However, they don’t. Also, the site doesn’t go into a lot of information about the OnviTrader program and how it works. Most of the information that was obtained for this review was taken from other sources.
Some Strange or Hidden Things about OnviTrade
Just so you know, OnviTrade might have been started in October of 2020. The actual start date of this organization is not clear. Also, this online trading portal isn’t registered with the SEC. This should raise huge red flags for people who want to invest.
Look, the Securities and Exchange Commission (SEC) was created to protect people from criminals who set up bogus trading schemes. This is always an ongoing problem on the internet. Unfortunately, this OnviTrader seems like they are contributing to this problem.
Legitimate trading companies will be eager to register with the SEC. This is because their registration provides clear evidence that they are not ripping people off. The SEC makes sure that trading organizations don’t do this. However, if a trading organization doesn’t (or refuses) to register with the SEC, they’re more than likely a scam. Truthfully, there are very few unregulated (and unregistered) trading organizations that are not a scam.
OnviTrader doesn’t have to register with the SEC if they do business in America but they should. Every country usually has an investing regulation agency in place. OnviTrader should also be registered with any investing regulation agency within their nation. This is simply the right thing to do.
If you plan on doing business with this online trading scheme, just make sure you can accept they’re not regulated. Also, no one is sure about where this online trading site operates. It could be Armenia, or it could have been set up inside of somebody’s basement, garage, or even a small closet. When a company doesn’t disclose where it’s located, then something is not right.
In this day and time, companies know that transparency is crucial. This is especially true where MLM and Ponzi schemes have become the norm for online businesses. The things mentioned within this section are important for helping you to understand that OnviTrade has some serious flaws.
Can you legitimately get rich or make a lot of money with OnviTrade?
The short answer is maybe but you probably won’t. We briefly discussed this point earlier. What needs to be stated at this point is that Forex trading is carried out in margins. What this simply means that you stand a strong chance of losing more money than what you are trading with. This would immediately cause you to lose it all.
OnviTrade can’t guarantee that you won’t lose everything. This trading platform is not able to eliminate that risk. Also, you can’t reasonably expect that OnviTrade is going to pay profits to you all the time like they say. How can they reasonably make this promise when it comes to trading?
What you need to remember is that no online platform is going to somehow beat or redefine the Forex trading market. That isn’t going to happen. Again, if you decide to use Forex Trading do so with extreme caution.
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Is OvniTrade a scam or a legitimate Forex trading platform?
OvniTrade isn’t a scam but it is very suspect. One thing about this company is that the videos and online reviews are from foreign content creators. Even the videos that have been published in English, the people speaking are foreigners with a heavy accent. This kind of proves that the company is located in some unclear foreign destination.
OvniTrade might not have been targeted toward American, Canadian, or British investors; but investors in the west are usually targeted for these schemes. Believe it or not, many investors in the west often fall for these schemes. This usually happens because they're beginners, inexperienced, ignorant of investment, bad at investing, or arrogant enough to believe that they can exploit an opportunity such as this.
OvniTrade is not clear about its services or who operates the organization. Honestly, they don’t even go into a lot of detail about their affiliate or MLM schemes. Even though a legitimate investing agency should not be dabbling in these two areas, the fact that OnviTrade doesn’t talk much about them is another red flag.
The site seems vague about a lot of points. They don’t really go into much detail about how their education or training program works. Also, they tell people that they will control their online trading processes, but they don’t make it clear about how they’re really going to do this. They expect you to give them your money and just trust that they will provide you with weekly or monthly profit. Again, no trading or investing system can promise consistent profits all the time. Not unless it’s a Ponzi scheme.
OvniTrade is also a dangerous thing because if a person risks their money with this business, they might lose thousands or millions. Most people simply cannot afford to lose this much money. OvniTrade should make it a point to be more upfront about its position and what they’re doing. They should be more transparent about everything that they’re doing.
If you come across this online Forex trading scheme take the time to find out about it. Remember, there aren’t a lot of reviews on the internet about OvniTrading. I’m not saying that it is a scam but once again it might not be the best way to risk your money. Make sure you have some type of proof that this organization is a reputable enough place to risk your money. Don’t throw your money away by getting involved with this program if you don’t know much about it.
You can risk your money with OvniTrade if you choose. Keep in mind that the platform hasn’t been around for a long time. Honestly, if you carefully judge this type of online business opportunity and how it’s set up, you will conclude something is off. OnviTrade is simply too suspect to take seriously as a Forex trading platform. Proceed with lots of caution if you decide to do sign up.