Onyx Markets

Onyx Markets, registered in the United Kingdom as Onyx Capital Advisory Limited in 2024, has approximately 1-2 years of operational experience. The broker offers trading in forex, indices, and commodities with leverage that varies by asset class and competitive spreads using the MetaTrader 5 (MT5) platform.
Onyx Markets is regulated by the Financial Conduct Authority (FCA), although it holds a suspicious market maker license, which raises concerns about its overall safety and legality in the trading environment.
User feedback on Onyx Markets indicates a mixed reputation, with notable concerns regarding customer service quality, withdrawal processes, and transparency. While some users appreciate the availability of a demo account and multiple contact channels, the broker has received complaints about slow withdrawal times and a lack of clarity in fee structures, suggesting a need for increased transparency and improved customer support.

Capital Protection Measures

Onyx Markets holds client funds in independently regulated bank accounts, separate from its own assets, ensuring a level of capital protection. However, the broker does not participate in investor compensation funds or insurance schemes, which may limit coverage and protection for traders in adverse situations.

Onyx Markets Leverage

The maximum leverage offered by Onyx Markets varies by product category, depending on client classification (retail or professional). The broker’s leverage practices comply with local regulatory requirements, but specifics about the exact leverage multiples for standard and professional accounts are not disclosed.

Does Onyx Markets Have Withdrawal Issues?

Complaints regarding Onyx Markets primarily focus on withdrawal processes, with users expressing concerns about slow withdrawal times and a lack of clarity in fee structures. The feedback is mixed, with some users finding the demo account feature beneficial, while others report frustrations with customer service. Most complaints are sourced from online trading forums and review sites, indicating a repetitive pattern regarding withdrawal delays. However, there are no significant public complaints or regulatory penalties documented, though the broker’s suspicious market maker license raises questions about its operational legitimacy and safety.