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OxMarkets.com Review Visit site

Updated: May 17, 2018
1.129 · 8 REVIEWS
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1.129 · 8 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Hamilton, Canada,
Jan 3, 2018,

Scammers, Lost my money in signals, and failed to withdraw the remaining balance STAY AWAY
Fernando José,
Leiria, Portugal,
Nov 19, 2017,
Registered user

Winning traders not allowed here!! Withdrawl refused!!!!

I started using OxMarkets platform around September 2016.
Deposited 500 euros but in a few weeks i lost it all. Had no reasons at that time to feel they were a bad broker.
Now in October 2017 deposited 250 euros. One year after losing 500eur i wouldn't be depositing more money if did not started to be profitable.
I didn´t imagine that we are not allowed to make profits at this broker.
My trading style at the moment is trading 60 seconds.
I made 12 trades in total (10 wins and 2 ties) by being patient an picky. They allowed me to withdraw 275 euros but in the next week they refused to aproove my 305 euros withdraw.
They claim i have manipulated the platform, therefore i was in breach of the terms and conditions. This must be a joke! Is that even possible?
I can give details to whoever asks for it.
May 9, 2017,
Registered user

Recommended not to trade with OxMarkets

Yes, there are inherent risks when trading in binary options. And you should be aware of these risks and probably set yourself a limit of how much you are going to accept to lose - and then walk away once you lost that amount.

But, what is the interest of the broker in all this? Shouldn't they be on your side? Help you make profits? Well, you'd think, but at the end of the day, they are only interested in their own profits and maximizing them, and there is a lot more that goes into that equation than your account and your money. A standard argument is that they are interested in you winning because they get a percentage of every win, and they want you to keep trading. But, you don't really know what and how they get their money from the provider and whether what they really try to do is to get you to deposit more and more every time you want to make up for some prior losses. They'd rather see you deposit more each time than keeping trading with your initial start money.

That seems to be the strategy of OxMarkets. Don't believe a word they say - they will tell you anything they think you might want to hear, just to make you deposit more and more of your money. Their advice is rubbish - they don't even stick to their own "recommended strategy", their signals are worthless (you'd do better guessing from time to time), and their only solution to losing is making you deposit more money (preferably more than last time, as this is the only way to recover your losses)!

OxMarkets representatives all claim to be your "friends" and best buddies, always there for you, but as soon as you lose (and you will lose), they are quiet and offer no help or solace. When you sometimes win, they will take the credit, but when you more often lose, it is the market's fault. And, anyway, it is YOU who is placing the trade, so how can they have any responsibility?

So, if you want to trade binary options, do it on your own! Don't listen to anything OxMarkets tells you - they are neither knowledgeable nor straightforward - you are better off getting your training and help and signals somewhere else.

Now, all this may just be a nuisance (the fact that they don't know what they are doing and that they will tell you one thing and then do another one right away), but what is really hugely concerning is that they will make promises to you concerning the security of your funds (and the possibility to recover (some of) them when you lose) that they NEVER intend to keep, under no circumstances! This creates a false sense of security that is absolutely lethal!!!

I first got into the hands of Miltos Ioannou, my account manager. While basically well-meaning, he is mainly interested in making money for himself and leaving the company as fast as he can. He helped me lose almost 3000 EUR in one day, providing wilder and more desperate signals by the minute to save the disaster. Of course, I placed the trades myself, but if you start questioning every signal you get from your account manager, you might never place any trade and he might stop giving you signals (in hindsight, this is of course what I should have done). Later, a more senior person, Christopher Theodorou, got involved, as they felt they needed to provide better service to me. Well, he gave me all kinds of signals (both short-term and long-term), but most of them were losing. The whole thing seemed completely "random" as I received many signals within a short time, and as they started to lose, even more signals in order to recover - no discernible rhyme or reason to it (once you look back at it and think some more about it). Later, after I had lost 10.000 EUR on bad trades, they decided to bring in a "specialist" who would help me recover all my losses. Well, in order to do that efficiently, I needed to - of course - deposit more, substantially more. On my hesitation, I was told that I should feel lucky that this "specialist" will work with me at all, and that the alternative to not depositing would be to just accept my losses and walk away. Boy, do I wish I had done that. This "specialist" calls himself Dominic Winters, but who knows whether these are their real names. This guy is one pushy, aggressive SOB - do all you can to stay miles away from him or be prepared to lose all you have! This guy cleaned me out for another 15K EUR in one day, despite having filled me with shiploads of bullshit about his abilities, his pristine success rate and his own wealth (yeah, the latter is probably right). He did not stick to any pre-arranged strategy and pushed so hard that you had almost no choice but to follow his signals and ultra aggressive trading strategy, risking more than you should in each trade. I went along partly because of the promises he had made not to risk most of my account money and to even protect part of it, in case I should lose it. Needless to say, he didn't remember or feel obliged to stick to any of these promises later. He also never apologized or said anything else to comfort you. After all, so his reasoning, you placed the trade - your fault. And, besides, the markets were against us. So, no apologies whatsoever from anyone at OxMarkets, but what they did - almost immediately, was to bring in a supposedly even higher ranked guy, Alex Bishop, whose only concern was to make me deposit even larger sums (he talked about minimum 50.000 EUR) and then he personally would make sure that I would win and get all my losses back. (This guy also talked very badly about one of his own employees, Christopher Theodorou, calling him an old man who no longer has what it takes to cut it in this business). When asked whether I could at least regain the money that was protected according to Dominic Winters ("protected" was supposed to be part/feature of becoming a higher level customer), he said he would personally talk to the Board of OxMarkets about my case. I can't imagine how these guys manage to keep a straight face - they must have been laughing their asses off in this board meeting. Needless to say, Alex Bishop came back to me (with or without ever actually having talked to the board) saying that there was no way to regain even the "protected" part of my losses. As I said, these guys will tell you everything you want to hear until they have your money, and then not keep anything at all!!

Oh, and another shenanigan that Dominic Winters pulled: after the first few trades, we were actually ahead and had won a bit. So, he immediately used this to make me deposit more in order to maximize the profits for the day. He pushed me to deposit 4000 EUR more right there and then, as he needed that money for his strategy with me. But, generous as he was, he said “I also want you to withdraw 2000 EUR so that you see that we are making profits”. As I questioned this strange transaction (withdraw 2000 EUR, deposit 4000 EUR) and wondered whether I could instead just deposit 2000 EUR with the same net effect, he got angry and pushed me to do as he said. Of course, now I know why: while a deposit is instantaneous, the withdrawal needs to be Ok'ed and processed etc and this takes a lot of time. He knew, that by the end of the day, he would have burnt off all my money and the withdrawal would never even get looked at by his staff before it all was gone. So, yes, he wanted to have more from me and just give the appearance to be my buddy who is looking out for me.

So, stay away from OxMarkets, as they don't have your interest in mind - they really couldn't care less whether you win or lose, but they want you to lose and then smooth-talk you into depositing more as this is the only way to recover your losses. They will hand you off from one to the next (supposedly higher ranked and more experienced) account manager (or whatever they call themselves) and this strategy continues until they have relieved you of all your money. Whatever they tell you and promise you, it is basically all lies. But, they know that you can't do anything: in the end, you place your own trades, so whether it is based on their bad advice and lacking strategy, it is never their fault that you actually lose. Technically, this is correct, but it shouldn't give them a free pass to be so devoid of any morals and so clearly follow a certain recipe with false promises and lies to make you lose all your money.

So, again, stay away from OxMarkets and be aware of Miltos Ioannou, Christopher Theodorou, Dominic Winters and Alex Bishop (especially the latter two have no moral compass or feel any obligations to their customers whatsoever).

PS: I also once got "allowed" to follow a live NFP webinar with Bradley - maybe he just had a bad day, but he was calling signals all over the place and mostly wrong, as the markets were not reacting as he had predicted and also not behaving after the NFP as he had predicted. So, I lost all trades on the NFP day, and almost all long-term trades initiated on that day. Again, you are probably better off working on your own!
Cornwall, United Kingdom,
Feb 9, 2017,
Registered user

Just Terrible

Terrible, buggy and sometimes unresponsive trading platform. High minimum stake and high minimum withdrawal. Ever since signing up with them I've received nuisance phone calls from random binary brokers and signal providers. Also there own staff were frequently trying to get me to deposit more money or get me to take their signals. If you really want to trade binary options, just don't do it with OXMarkets.
Dec 21, 2016,
Registered user

Ipoh, Malaysia,
Aug 25, 2016,

Platform has big issue (winning instead of losing with excuse there's a last second price change, several occasions with the same issue) and shared Oxmarket cant do anything about it cause its SpotOption problem.
, Nigeria,
Jun 22, 2016,

The company don't want to send my money.. I deposited $510 and turned it to $2800. The locked my account there when i submit a withdrawal request. I have reported to CYSEC. They seem to be broke and don't want to send my money.. Both initial deposit and profits

Review Moderation Team Note: This issue has been fully resolved.
London, United Kingdom,
Mar 28, 2016,

I have heard about the Unlimited Risk Free Trades promotion that they have and I decided to check it out. At the start I thought that is the same promotion like all the others but later on I understood that they offer real CASH as a return on the Risk Free Trades. I have even tested it with a small account and I could withdraw it instantly.

Bradley Distras is my account manager.
Does anyone work with him? Any feedback would be appreciated :)
Forex Peace Army
Review moderation team note
4 Star rating removed.

This review did not come from the UK.  It came from the same location in Cyprus used by the OxMarkets Representative in the FPA's forums.

Per FPA policy, the rating on this review has been set to Zero Stars.

The FPA does not appreciate review spammers.
montreal, Canada,
Dec 4, 2015,

hey, though they are using spotoption system, though their site looks s**t. I opened and account with them and deposited 250$. i got the risk free trade offer. they basicaly give you cash instead of a simple bonus. after I lost 2 positions they asked me if I want to risk free those position I said yes, they refunded my account with 50$. I try to withdraw the money and the next day was paid.
this offer doesn't seems to have a termination date so I will say, that this broker is reliable.