OLIVE MARKETS
Basic Information
Pros and Cons
Pros
- Registered in the Marshall Islands
- Operates since 2019
- Offers competitive spreads starting from 0.3 pips
- Maximum leverage of 1:300
- Utilizes MetaTrader 4 platform
Cons
- Regulated by GLOFSA, not a top-tier authority
- Mixed user feedback on customer service
- Frequent complaints about withdrawal delays
- No live chat support available
- Lack of transparency regarding fees
Is OLIVE MARKETS Safe and Legit?
OLIVE MARKETS is registered in the Marshall Islands and has been operational since 2019, providing trading services across various instruments including forex, commodities, shares, indices, and cryptocurrencies. The broker offers a maximum leverage of 1:300 and competitive spreads starting from 0.3 pips, utilizing the widely-used MetaTrader 4 platform for trading.
Despite being licensed by the Global Financial Services Authority (GLOFSA), this regulatory body is not recognized as a top-tier authority, which raises concerns regarding the broker’s safety and trustworthiness. Therefore, while OLIVE MARKETS operates legally, the regulatory framework may not provide adequate protection for traders.
User feedback on OLIVE MARKETS indicates a mixed reputation; while some traders appreciate the platform’s user interface and trading conditions, there are frequent complaints regarding customer service quality and delays in withdrawal processes. The absence of a live chat feature has also been noted as a drawback, leading to frustrations among users seeking immediate assistance.
Is OLIVE MARKETS a Regulated Broker?
What Are the Regulatory Licenses Held by OLIVE MARKETS?
OLIVE MARKETS is registered in the Marshall Islands and operates under the regulatory oversight of the Global Financial Services Authority (GLOFSA). However, it is important to note that GLOFSA is not recognized as a top-tier regulatory authority. Thus, OLIVE MARKETS holds only offshore regulation, which may not provide sufficient protection for traders compared to brokers regulated by more prominent authorities.
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
OLIVE MARKETS claims to implement capital protection measures by holding client funds in segregated bank accounts, separate from the broker’s own assets. However, the specifics regarding the regulatory requirements for such segregation are not detailed, raising questions about the robustness of these protections. Furthermore, the broker is covered by an insurance policy that protects investments up to $200,000, which is automatically provided to clients at no additional cost, enhancing the safety of their funds.
OLIVE MARKETS Leverage
The maximum leverage available at OLIVE MARKETS is 1:300, applicable across various product categories. This leverage is in compliance with the legal limits set by the regulatory authority under which the broker operates, allowing both retail and professional clients to maximize their trading potential while also posing an increased risk, particularly for inexperienced traders. The broker’s leverage offerings are designed to attract traders seeking higher investment capabilities.
OLIVE MARKETS Withdrawal Review
How to Contact OLIVE MARKETS?
User feedback on OLIVE MARKETS reveals a significant number of complaints regarding withdrawal issues, with many traders reporting delays and difficulties in accessing their funds. Credible sources of these complaints include user reviews on various trading forums and financial review websites. The broker’s response to complaints appears to be inadequate, with reports of slow response times exacerbating the situation. While there are no widespread regulatory penalties against OLIVE MARKETS, the consistency of withdrawal-related complaints raises concerns about its operational integrity. Overall, the mixed reputation reflects a need for caution due to potential safety risks associated with this broker.
Frequently Asked Questions
A1: OLIVE MARKETS is registered in the Marshall Islands and operates under the Global Financial Services Authority (GLOFSA). However, GLOFSA is not considered a top-tier regulatory authority, raising concerns about the broker’s safety and trustworthiness. While the broker claims to implement capital protection measures, the lack of robust regulatory oversight means potential traders should proceed with caution.
A2: OLIVE MARKETS is licensed by the Global Financial Services Authority (GLOFSA). However, it’s important to note that GLOFSA is not recognized as a top-tier regulatory body, which could limit the level of investor protection compared to brokers regulated by more prominent authorities.
A3: OLIVE MARKETS claims to protect client funds by holding them in segregated bank accounts, separate from the broker’s own assets. Additionally, the broker provides an insurance policy that covers investments up to $200,000 at no extra cost to clients, which enhances the safety of their funds.
A4: Yes, user feedback indicates significant complaints regarding withdrawal issues, with many traders reporting delays and difficulties accessing their funds. The broker’s response to these complaints has been described as inadequate, highlighting concerns about their operational integrity.
A5: Customers of OLIVE MARKETS can contact support via email or phone, but there is no live chat feature available, which has been noted as a drawback. Users have reported slow response times, making it challenging to receive timely assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.