According to our research, OnlyTrades is a total scam. The broker is not regulated and has no legal right to provide financial services to public. Moreover, OnlyTrades Group has been suspected in fraud, when pretending to be another company with a better reputation.
| 🗺️ Registered in | No Registration |
| 🗺️ Type of License | No License |
| 🛡️ Is OnlyTrades safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
OnlyTrades is a Forex and CFD. It is owned and operated by Marantino Capital Ltd, based in Malta. The contact phone number provided on the website is British, which means the company is targeting UK residents without being authorized in the country. The company is not regulate in the UK by the Financial Conduct Authority, which is obligatory for the companies that provide financial services.
Also the Malta Financial Services Authority (MFSA) has recently issued a warning against Marantino Capital Ltd and OnlyTrades.
It is recommended to check if the broker is regulated before starting any business with it. Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts.
FCA provides a Financial Services Compensation Scheme with upper limit GBP 50,000 of compensation. You can check the list of the FCA-regulated brokers here.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and BlackBull Markets.
Yet, it is always great to hear your personal opinion about OnlyTrades. So you may share your experience or thoughts or discuss them below or ask us for additional information.