OGM - Something You Need to Know About This Broker

About OGM

OGM is a UK-based financial firm with 5 to 10 years of experience. Traders can access diverse assets like currencies, indices, commodities, and shares, choosing from various account types such as Classic, Gold, Prime, and Elite under the Retail and Professional categories. WikiFX has given this broker a score of 5.89/10.

Is it Legit？

This broker claimed to be regulated by FCA with license number 769481. However, is this the truth？

Announcement from FCA

FCA claimed that this broker is not regulated and considered it “clone firm”. Trades need to be aware of these potential risks.

Leverage

OGM offers up to 1:300 leverage on all account types. Leverage allows traders to control a larger position size with a smaller amount of margin. For example, if you have a leverage of 1:300, you can control a position of $30,000 with a deposit of $100.

Leverage can amplify your profits, but it can also amplify your losses. It is important to use leverage wisely and to understand the risks involved.

Account Types

OGM offers two types of trading accounts: Retail accounts and Professional accounts. All accounts offer attractive trading conditions and provide a wide range of base currencies to suit the preferences of different traders.

Spreads & Commissions

OGM offers competitive spreads on a wide range of tradable assets, including Currencies, Indices, Commodities, and Shares. Spreads are variable and can change depending on market conditions, but they typically start from 0.01 pips for forex pairs and 0.1 pips for metals.

On-Site Inspection

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• WikiFX paid a visit to OGM and found no office, which is a red flag.

Conclusion

This broker may not be what you thought it was. Risks need to be alerted as this broker shows multiple red flags. If you want more information about certain brokers' reliability, you can open our website (https://www.wikifx.com/en). Or you can download the WikiFX App to find your most trusted broker.