Warning! Offshore Broker Opoforex Is Now Opofinance But Acts Still Unauthorized!

Opoforex is now Opofinance but still unauthorized
Spread financial intelligence

Opofinance (previously Opoforex) is an unregulated offshore broker operated by Opo Group Ltd in the Seychelles and Opo Group LLC in St. Vincent & The Grenadines (SVG). The offshore broker is a member of The Financial Commission, a private dispute resolution organization. The broker has an offshore securities dealer license from the FSA Seychelles, which does not authorize Opofinance to offer financial services in Europe, North America or any other regulatory regime. Traders are not protected under any regulatory regime outside Seychelles.

Key data

Trading nameOpofinance
Social mediaLinkedIn, Facebook, Instagram, Twitter
Legal entityOpo Group LLC (est. Feb 2021), SVG
Opo Group Ltd, Seychelles
Corporate advisorWilfred Services Ltd
JurisdictionSt. Vincent & The Grenadines
AuthorizedFSA Seychelles
(Securities Dealer with license no SD124)
Leverage up 1:500
MembershipThe Financial Commission (link)
Payment optionsBank wire, crypto, e-wallet, bank wire
Payment processorsTC Pay, Perfect Money, Advcash,
FasaPay, FastAsiaPay, UnionPay
VirtualPay, Help2Pay

The Short Narrative

On its LinkedIn profile, Opofinance lists Tehran, Iran, and Hong Kong as its headquarters.

Opofinance‘s offering violates regulatory requirements in North America, Europe, and other regulatory regimes. For example, it offers a leverage of up to 1:500, although in Europe and the UK, only up to a maximum of 1:30 is allowed. Furthermore, pre-KYC deposits in theoretically unlimited amounts are possible via crypto or bank transfer.

At the moment, we cannot state with certainty that Opofinance is a scam, meaning that it intentionally deceives its clients. However, there is a good chance that it is a scam. However, we can state that Opofinance has no authorization to offer its regulated services in any regulatory regime and violates regulatory rules and financial laws.

Facilitating Payment Processors

As payment processors, we found TC Pay, Perfect Money, FasaPay, UnionPay, FastAsiaPay, and Advcash. Alternatively, clients can deposit in cryptocurrencies, including stablecoins.

Clients of unauthorized offshore brokers should be aware that they are not entitled to Investor Compensation Schemes or Financial Ombudsman assistance. This further increases the already super-high risk in the Forex, CFD, and Crypto space. It is statistically almost 100% likely that clients of offshore brokers are losing money.

Share Information

If you have any information about Opofinance, its operators, and partners, please let us know via our whistleblower system, Whistle42.

  1. CAROLINA says:

    All traders should be very careful in terms of trading with this brokers most of them are not as reliable as we think. I have been dealing with IQoption over the years now and I haven’t been having issues trading with them and this has prompted me to introduce more people to participate in the trading deal but after I made a huge deposit for trading in my account I found out I have been locked out and each time I called the customer service I was always placed on hold and this has been getting rampant so I just decided to try a consultant,I was able to get my account unlocked with their aid and asssistance I wouldn’t have done it without them and now I can comfortably trade again and make profit.

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