Online Market Share Review: OnlineMarketShare is a forex broker that is supposedly located in the Dominican and licensed by the authorities of the Dominican Republic. In the review below, we take an in-depth look at the features onlinemarketshare.com allegedly offers. This review answers the questions: is Online Market Share legit? Is OnlineMarketShare good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our review to see what we and other experts have to say about OnlineMarketShare Forex broker.
Table of Contents
OnlineMarketShare Trading Platform
This broker claims that it supports the MT4 trading platform. With leverage capped at 1:300
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Onlinemarketshare.com Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has three account types.
OnlineMarketShare Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Bank Transfer, Credit card, and Debit card.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Online Market Share Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
Dominican republic is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion
We wouldn’t recommend using this forex brokerage, they do not impress us with the vague information they have provided.
In conclusion, we would not advise or recommend you to trade with onlinemarketshare.com , as they don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.