OQtime is a Forex slash CFD brokerage company founded in Cyprus while also having an offshore branch registered in Seychelles. The reason firms create entities abroad is to enter larger markets and circumvent regulations.
Although the European platform operates under stringent market laws, the offshore counterpart is subject to much laxer regulations, leaving room for potentially fraudulent activity. Such providers turn out to be scammers and SimpleSwap is a perfect example. If you’re contemplating trading with this firm, we advise you to first read our full OQtime review.
| Regulated by: | CySEC, FSA (offshore) |
| Is This Company Safe? | OQtime has two entities; one is registered offshore and operates under lax regulations. Users have reported issues. |
| Known Websites: | oqtima.com |
| Have Warnings from: | N/A |
| Registered in: | Cyprus, Seychelles |
| Operating since: | 2020-11-18 |
| Trading Platforms: | MT4, cTrader |
| Maximum Leverage: | 1:30 (Cyprus), 1:1000 (offshore) |
| Minimum Deposit: | 100 USD |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Indices, Commodities, Stocks, Cryptocurrencies, ETFs |
| Free Demo Account: | Available |
| How to Withdraw from This Company? | You can request withdrawal from OQtima’s representatives or contact us in case you face any issues regarding this question. |
Legal Info: Is OQtima Regulated?
Previously known as Nordskov Capital Ltd, the OQtima broker firm was founded in Cyprus. Since November 2, 2021, the provider has been registered with the Cyprus Securities and Exchange Commission (CySEC).
The country’s financial market authority implements the regulations of the European Securities and Markets Authority (ESMA). One of ESMA’s laws stipulates that each trading firm must obtain a MiFID passport to operate across the old continent. In this segment, the OQtima regulation is legit.
However, the company also has an offshore entity registered in Seychelles under the Financial Services Authority (FSA). This branch enables OQtima to reach traders outside Europe while avoiding dire regulatory consequences.
Be sure to check the domain you’re trading on. We advise you to stick to the Cypriot branch if you’re a European trader or investor. If not, opt for regulated firms operating under the supervision of esteemed financial market authorities such as the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Such providers are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.
Who Are OQtima’s Users?
According to WHOIS, the oqtima.com website domain was created on November 18, 2020, a year before the company obtained the CySEC license. Since then, the broker has been accepting clients from the following jurisdictions:
- Japan;
- Cyprus;
- Australia;
- Malaysia;
- Italy.
All these countries feature renowned regulatory bodies that meticulously supervise the markets to prevent digital cons like Everrise Brokers from running fraudulent schemes. As mentioned, OQtima’s European branch is authorized to operate in the European Economic Area, but not outside it.
If you trade with the offshore domain, you probably won’t be able to benefit from regulatory assistance in case you lose money under suspicious circumstances.
Trader Reviews – Sharing Experiences
There are 31 OQtima reviews on trustpilot.com. The broker has received an average score of 4.4/5 (excellent). On the other hand, wikifx.com has posted several complaints against the platform.
Users have been accusing the firm of deceptive practices, citing OQtima login difficulties, withdrawal problems, and platform manipulation as issues they experienced. Hence, do not neglect these negative reviews. Consider both sides and see which one has more weight.
Which Trading Platform Is Available?
There are two cutting-edge platforms available. First, we have the OQtima MT4, which is perfect for traders of all levels. MetaTrader 4 supports sophisticated features such as automated & algorithmic trading, advanced charting, real-time market reports, API integration, multiple timeframes, Expert Advisors (EAs), and instant order execution.
The other platform is the OQtima cTrader, a younger but equally efficient trading tool tailored to suit the needs of seasoned traders, particularly scalpers. While MT4 has a better track record, cTrader’s modern interface, superb customization, and C# programming language may appeal to those seeking a more user-friendly and flexible platform.
OQtima account types
| Account Type | OQtima One | OQtime ECN+ |
| Minimum Deposit | 100 USD | 100 USD |
| Maximum Leverage | 1:1000 | 1:1000 |
| Spreads | From 1 pip | From 0.0 pips |
| Commissions | Zero | 3.5 USD per side traded |
Leverage, Spreads, Commissions, Demo Account
The maximum leverage the broker offers scales up to 1:1000, which is considerably more than the legal cap of 1:30 retail clients can receive in Europe. This is one of the reasons why brokers go offshore.
Trading with high leverage is a double-edged sword; you can win big if you score but also lose all your funds in case the market moves against you. In general, it’s pretty risky.
As for the trading costs, spreads start at relatively competitive levels, enabling profits. Commissions that the platform charges are in line with industry standards as well. The key takeaway here is to not recklessly use high leverage and fumble your money.
Instead, try out the demo account and practice until you get a hang of it. Once you feel you’ve mastered the basics, you can switch to using real money, but don’t forget that the offshore domain may cause you issues.
Deposit and Withdrawal Process
The website listed several payment methods that can be used to make a deposit and withdraw profits free of charge:
- Credit/debit cards;
- Wire transfers;
- E-wallets;
- Cryptocurrencies.
The OQtima minimum deposit is 100 USD while the minimum withdrawal requirement remains undisclosed. Due to several traders reporting OQtima withdrawal issues, the firm may be up to no good. Should that happen to you, there are ways to potentially recover funds.
For MasterCard or VISA credit/debit card payments, you can request a chargeback at the issuing bank within 120 days to get a refund. Wires, on the other hand, are reversible via a recall, but only work if the transaction is not yet complete.
Recovering stolen crypto is more difficult and complex, requiring advanced software such as CipherTrace, as well as expert aid. Fortunately for you, our team can assist you with tracking the digital assets you lost.
Key Facts To Consider About OQtima
OQtima is a Cypriot brokerage firm also operating offshore. The website offers MT4 and cTrader platforms to trade with high leverage and tight spreads. However, some users have reported issues and complained about the provider.
If you are still interested in trading with this broker, stick to the regulated European domain. In case you have lost money to OQtima, you must seek our professional help to recover your funds! A chargeback is your best option.
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is OQtima?
OQtima is a European/Seychelles brokerage firm offering Forex, CFD, and crypto trading on the MT4 and cTrader platforms.
Is OQtima Regulated?
Yes, the broker is registered with both CySEC and the FSA. However, the latter is an offshore jurisdiction, carrying risks.
How to Withdraw Profits From OQtima Account?
Request a withdrawal from the broker. If denied, report the firm to the regulators and consider requesting a chargeback. We can help.
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