In this review we show that OBAForex Global Trading is an investment scam that can’t deliver what it promises.
What is OBAForex
OBAForex is a foreign currency and investment company that has been established in 2019.
The company provides learning materials for investors, trading signals and fund management services.
OBAForex claims that it can earn you up to 100% monthly returns on your investment. With the fund management program you just have to deposit with a broker of their choice and let them execute trades on your account.
Is OBAForex legit, can you trust this company and their offers?
It did not take us long to realize that OBAForex is a scam. In fact, you should be able to come to this conclusion pretty quickly too. Here is why.
Impossible returns on investments
The biggest red flag and proof that OBAForex is a scam is in their services. The most obvious example is the Fund Management basic Bronze Plan.
They claim they will make you 100% per month while you can expect a maximum 10% drawdown on your equity. Well, this is impossible.
No legit investment company in the world can make 100% monthly in Forex trading or any other financial trading. In fact, there are only a few companies in the world that have at least once in their existence managed to make 100% or more in a year.
Most of the time world’s best investment companies will make less than 100% per year. And OBAForex is promising 100% per month, which is absurd. This alone proves that is a scam, there just is no legit way to make 100% monthly in financial trading.
And making 100% per month with a maximum 10% drawdown is even more impossible. Such risk to reward ratio is pure fiction, a fairy tale.
Bogus trading signals
Another huge red flag is the trading signals that OBAForex is offering. The highest Pro FX Trader Package promises 1400 pips per month. Just how the offer is formulated shows it is a scam.
First of all, in order to assess such an offer, you need more statistics about the risk to reward ratio, drawdowns etc. But even without them, 1400 pips per month is just a dream that no real Forex trader is able to achieve. That’s just a fact.
We realize that you have to be an experienced trader to know this, but trust us, 500, 1000 or 1500 pips per month is something impossible in Forex trading.
You can have one extremely lucky month and do it once, but you will never be able to repeat such a result every month.
Last but not least, OBAForex is not registered with the SEC in Nigeria, so it has no authorization to provide the services it is offering.
As you can see, the Investments and Secuirites Act requires all professionals on capital markets to be registered, but OBAForex is not. They claim to be in the process, but legally they can’t offer their services until they get the license.
This applies to almost every country in the world, without a valid license you can’t offer any investment services, laws in different countries are very similar in this regard.
How OBAForex works
OBAForex is making money in several ways. They sell their trading signals and training packages. Then they take fees on profits they generate for their clients. But since they are not profitable, this source is worth nothing.
They will also make money with their partner brokers that will pay them for referring new depositing clients. And they will make money on commissions anyway, even if they lose your deposit in trading.
As you can see, OBAForex doesn’t need to care if you win or lose thanks to their services, because they will earn their money in any case.
Educating in Forex trading, selling signals and promising huge profits is a lucrative business for those who can’t trade profitably. They will make you lose money, but they will earn commissions in the process. How ugly.
OBAForex Global Trading review – Conclusion
OBAForex is an unauthorized investment service that offers 100% returns per month in Forex trading, which makes it a scam. Stay away from it if you don’t want to lose money.
If you are interested in financial trading, use regulated companies and always learn on a demo account first.
Should you choose to invest real money, you have to understand the risks and have a good strategy. Always use only money you can afford to lose.