Forex OFM Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.5

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.7

Business 1.0

Risk Control 1.3

Software 2.0

Regulatory 1.5

Terminal Snapshot

OFM Trading Conditions

Registered Region Saint Vincent and the Grenadines

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email info@ofmarkets.com

Contact Number +4402035449646

Website ofmarketsgroup.com

Balanced Review

Pros & Cons

Pros

Diverse range of tradable instruments including forex, commodities, and CFDs
Access to popular trading platforms: MetaTrader 4 and MetaTrader 5
Supports both demo accounts and Islamic accounts
Low minimum deposit requirement of $50
Customer support available via email

Cons

Not regulated by any recognized financial authority
Lack of investor protection for client funds
Potential withdrawal fees for amounts below specified limits
Limited customer support options (email only)
Additional fees may apply for inactivity and admin services

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	OFM	Anzo Capital	Focus Markets	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Saint Vincent and the Grenadines	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.5/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does OFM Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Retail Account	Beginners and casual traders	No commission; cost incorporated into the spread	Suitable for small-capital practice
Professional Account	Experienced traders	Low spreads; trading commission applies	Requires trading volume qualifications
Islamic Account	Traders seeking swap-free options	No overnight interest; subject to review	Available upon request
Demo Account	All trader levels	Practice trading with virtual funds	Ideal for testing strategies

Account Opening Process

To open an account with OFM, prospective traders must complete the following steps: 1. Provide personal information, including name, address, and contact details. 2. Submit employment information, such as occupation and employer details. 3. Share financial information to assess trading experience and risk tolerance. 4. Undergo identity verification by submitting an ID and proof of address. 5. Enjoy account flexibility, as traders can upgrade to a professional account later if they meet the necessary criteria.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	$0 (Retail Account); $7 (Professional Account)	Tight spreads available for major pairs
CFDs (Stocks, Indices, Commodities)	Varies	$0 (Retail Account); $7 (Professional Account)	Competitive spreads across various instruments
Cryptocurrencies	Varies	$0 (Retail Account); $7 (Professional Account)	Dependent on market volatility

Other Fees

OFM may impose several additional fees, including deposit and withdrawal fees, inactivity fees, and overnight interest (swap rates). Deposits are typically free, while withdrawals may incur charges if below specified amounts. Inactivity fees may apply after a certain period of no trading activity, and other admin charges could be levied for specific services. Currency conversion fees may also apply when trading different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

OFM User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

John Smith

New York, USA

★ ★ ★ ★ ★

I had high hopes for OFM, but my experience has been disappointing. Withdrawals take too long, and I faced unexpected fees that weren’t properly disclosed. I feel uncertain about the safety of my funds since they are not regulated. I would not recommend this broker to others.

Emily Johnson

London, UK

★ ★ ★ ★ ★

Overall, I had a good experience with OFM. The trading platforms, MT4 and MT5, are user-friendly and offer a variety of tools. The minimum deposit of $50 is reasonable, and I appreciate the demo account for practice. However, I wish customer support was more accessible.

Michael Brown

Sydney, Australia

★ ★ ★ ★ ★

I regret choosing OFM. The customer support is slow and only available through email, which is frustrating. I had trouble with my withdrawals, which made me question their reliability. The lack of regulation is a huge red flag for me.

Sophia Lee

Toronto, Canada

★ ★ ★ ★ ★

I’ve been trading with OFM for several months now, and I really enjoy the trading experience. The variety of instruments available lets me diversify my portfolio easily. The platforms are robust, and I appreciate the speed of execution. I also like the option for an Islamic account.

Saint Vincent and the Grenadines Market