forex-ol.com is an online CFD trading website that launched on October 2, 2024, using "FOREX" as its brand name. The platform offers CFD trading on assets such as foreign exchange, precious metals, oil, indices, and cryptocurrencies but does not provide services in regions that violate local laws.
Platform Services
Trading Accounts
forex-ol.com offers trading account options with spreads starting from 1 point, supporting a trading leverage of 1:100. However, the platform has not disclosed specific details about minimum deposit amounts, trading commissions, or the precise ratios for margin calls and forced liquidation.
Trading Platform Features
forex-ol.com provides the ST trading platform, which is available on both desktop and mobile devices. The ST platform is claimed to support multiple useful trading tools, including advanced chart functions, over 50 built-in technical indicators, and intraday market analysis support.
However, attempts to download the app via the App Store and Google Play links on the site resulted in pages that could not be opened.
Trading Products
Forex Trading
The platform covers various commonly traded forex currency pairs, including EUR/USD, USD/CAD, GBP/USD, and USD/JPY, meeting the demand for major currency pairs.
Precious Metals Trading
The platform supports spot precious metals trading in gold (XAUUSD) and silver (XAGUSD), attracting investors interested in assets that hedge against inflation.
Oil CFDs
forex-ol.com offers CFDs on U.S. oil (UsOIL). Oil prices are highly volatile and often considered indicators of economic conditions.
Index CFDs
Users can trade CFDs on several globally recognized indices, such as the Nikkei 225 (N225), German DAX (GER30), and S&P 500 (US500). This index trading attracts investors interested in global economic trends.
Cryptocurrency Trading
The platform supports major cryptocurrency pairs, including Bitcoin to USD (BTC/USD), Ethereum to USD (ETH/USD), and Ripple to USD (XRP/USD). However, the high volatility of cryptocurrencies requires investors to be highly aware of market risks.
Deposit and Withdrawal Methods
The platform does not publicly disclose detailed deposit and withdrawal methods on its website, nor does it specify whether there are any additional fees involved in the process. This lack of transparency may raise concerns about the security of funds on the platform.
Contact Information and Social Media Interaction
Regarding contact channels, forex-ol.com does not provide official accounts on social media platforms such as Facebook, Instagram, or Twitter. Users can only reach out via the email provided by the platform.
Company Background and Regulatory Status
Company Background
According to the information provided by forex-ol.com, FOREX is headquartered in London, UK, and claims to be one of the top 50 financial service companies in the UK. However, the "Contact Us" page lists an address for a company named GAIN Capital Group at Bedminster One 135 US Highway 202/206 Suite 11 Bedminster, NJ 07921, USA.
It is worth noting that GAIN Capital is a well-known financial company, but its relationship with forex-ol.com is not specifically explained on the site.
Regulatory Information and Compliance Issues
Research reveals that forex-ol.com's logo and brand name bear a significant resemblance to the well-known broker FOREX.com. Such a highly similar design could mislead investors into thinking there is an affiliation, posing a risk of impersonation.
Summary and Risk Warning
forex-ol.com is a CFD trading platform launched in 2024 that is suspected of imitating FOREX.com's brand features to attract users.
Risk Warning: CFD trading is a high-risk investment, and investors could suffer losses of capital during extreme market fluctuations. While leveraged trading can increase potential returns, it also amplifies risks. Therefore, investors should fully understand market volatility and the mechanics of CFDs before trading. It is crucial to carefully assess one's risk tolerance, especially for inexperienced investors, to avoid impulsive trading and unexpected losses in complex financial markets.
