Introduction to OliverBriggs Review:
OliverBriggs surely is a weird name for a forex broker to have. However, this is not the only weird or suspicious thing about OliverBriggs, read on to know what secret OliverBriggs is hiding from all of us. Claiming to be a forex broker with offices all around the world, OliverBriggs manages to lure in customers with a very limited set of information on their website. If you are here to find the answer to the question of whether OliverBriggs is a scam or not, sit tight till the end and you will get your answer. If you have been scammed by OliverBriggs, read till the end and you will find the answer too.
In this section, we will be specifically discussing all the red flags hoisted by OliverBriggs.
Is OliverBriggs regulated by any of the regulators?
Upon searching on their website for details regarding the location and regulation of the company, we realized that OliverBriggs is based in the Marshall Islands. As you might already know, the Marshall Islands earned its fame as an offshore zone. It is comparatively extremely easy for the brokerage firms to register themselves as no regulation applies to this place. Therefore, scam brokers’ number one choice to get a license is from the offshore zones. In our case as well, OliverBriggs is an offshore-based brokerage firm and therefore is UNREGULATED. We recommend our readers to never trade with an offshore brokerage firm that is unregulated.
What is the minimum deposit demanded by OliverBriggs?
The minimum initial deposit demanded by OliverBriggs is 250 USD. Such a huge amount as a minimum initial deposit is only asked by scam brokers and therefore this raises yet another alarm indicating OliverBriggs might be a scam. The usual minimum initial deposits demanded by regulated brokerage firms lie in the range of 0 to 10 USD. As compared to this, 250 USD is definitely a huge amount and therefore a red flag against OliverBriggs scam.
What is the leverage offered by OliverBriggs?
OliverBriggs offers leverage of 1:1000 as compared to the leverage of 1:30 or 1:50 offered by the regulated brokerage firms. Readers must know that a huge leverage offering like that of OliverBriggs will do you more harm than good. Huge leverage instigates a risk of losing in the trade and therefore, it is clear by now that OliverBriggs does not want their customers to win the trade. This is the third red flag against OliverBriggs’s scam in this OliverBriggs review.
Conclusion: Is OliverBriggs a scam or legit?
To sum up, all that has been stated above, we can conclude this OliverBriggs review by stating that OliverBriggs is a potential scam. We warn our readers not to get involved in any kind of trade or investment with OliverBriggs. If you have been scammed by OliverBriggs, fill the form given above and we will get back to you with the customized solutions to get your money back.
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