Thinking of getting into business with Oaks Wood? Here is what you must know about this broker. Carefully read this review to find out if oakswood.com is the trading platform you will want to trade with.
Table of Contents
About Oaks Wood Broker
Oaks Wood is an offshore brokerage company with a lot of offers for traders. The location of the broker shows 77 Gracechurch Street
London EC3V 0AS United Kingdom.
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Oaks Wood offers crypto derivatives and trading incentives for forex traders.
In spite the trading instruments Oaks wood claims to offer, traders must know they are dealing with an unknown broker whose regulation claims are false.
oakswood.com: Reasons to Avoid This Broker
oakswood.com is a platform with no financial authority overseeing its financial services. Its regulation claims are not legit as FCA doesn’t recognize Oaks Wood.
Another red flag we noticed in oakswood.com is that there is no demo account for traders. If traders can’t test Oaks Wood broker on a free account, how then can we know its viability in the forex market.
Oaks Wood presentation of large deposit on each account type is a red flag. Since this broker does not offer money back guarantee, trading on any account type is clearly a risk. This is a warning for forex traders to avoid losing money with this broker.
The crypto CFDs offers by oakswood.com is totally unacceptable in the UK another red flag. The Financial Conduct Authority has stopped the use of such asset because of the high risk.
Withdrawal and Deposit
Withdrawal process
There is no information on how forex traders can make a withdrawal request. We also don’t know the fee Oaks Wood charges traders for any withdrawal.
This is just a way to reap you of your money and also frustrate the withdrawal process.
Minimum Deposit
Oaks Wood minimum deposit varies based on the different account types.
Oaks Wood presents payment methods like Visa, Master card, web money. You should not consider making any payment with this broker in the first place because it is a risk. So beware!
Oaks Wood Platform
Oaks Wood operates on a Web Trader. The refusal to make use of industry standard such as MT4 or MT5 that are widely accepted for trading is a reason why you should avoid this broker.
Oaks Wood leverage varies also on the account type. 1:1, 1:2, 1:3, 1:4, 1:5 respectively.
Different account types Oaks Wood offers are Silver account for $10,000, Gold $50,000 , Platinum $100,000, Diamond $250,000 and Corporate $1,000,ooo.
In spite the attractive offers Oaks Wood broker presents, we can’t find a free account for traders to test the platform before considering a deposit.
Oaks Wood Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its licensed and regulation claims are false and must be avoided.
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Conclusion: Is oakswood.com a Legit Broker?
No, oakswood.com is not a legit broker for traders and because of that, you are advised to stay away from this broker.
The scam is on the wall for forex traders to avoid crossing path with oakswood.com because its claimed license and lack of transparency are red flags.
Therefore, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.