Oron Trade Forex broker review — Everything you need to know

Oron Trade Forex broker review — Everything you need to know

Minimum deposit

$20

Bonus

50% deposit bonus on each deposit

Maximum leverage

1:500

Year founded

2023

Regulation

None

Trading platform

MT5

Oron Trade is the company’s trade name; Oron Limited is the company behind the website and trading name, and it is a Forex and CFDs broker that was launched in 2023. It offers several account types, advanced platforms, and access to diverse markets, including FX and crypto pairs.

oron trade

In this unbiased and critical review of Oron Trade FX broker, we will dissect its critical features to assess its safety, spreads, profit withdrawals, commissions, support, bonuses, and more.

Oron Trade Overview of the website

Despite being relatively young, Oron Trade’s website is very responsive and functional. It offers all the important details transparently, including account types, available markets, trading platforms, and deposit and withdrawal policies. This is crucial and makes the website of Oron Trade professional and user-friendly. Everything is sorted in the menu bar, and it is super simple to navigate around and find all the necessary details before opening any trading account.

The one disadvantage of the website is that it does not offer a built-in live chat plugin for quick assistance.

Overall, the website is more than satisfactory and only lacks a live chat to be excellent.

Oron Trade Safety and Regulations

oron trade Safety

Safety is critical in financial trading, and regulations ensure brokers are reliable. In the case of Oron Trade, the broker is only registered in Saint Lucia, an offshore jurisdiction, as a business company, and it is not regulated as a broker. This is a serious drawback and a red flag for the safety of traders. As a result of this, we can not confirm that the broker keeps trader funds in segregated bank accounts, which is a serious issue.

The broker does not provide information about negative balance protection, and it seems it does not offer this policy, which is a serious disadvantage.

Oron Trade Accounts Reviewed

Oron Trade offers several different trading account types, including Micro, Standard, ECN, and Islamic. A micro account is for beginners and enables traders to start trading with a budget of 20 dollars, while the standard account offers lower spreads, but the minimum deposit is too high. The ECN is for low spread trading and is suited for scalpers. Let’s review the specs for each of these accounts.

oron trade accounts

Oron Trade Micro Account

The micro account enables trading on a budget. Here are its complete specs:

  • Minimum deposit – 20 USD
  • Maximum leverage – 1:500
  • Spreads from – 1.5 pips
  • Commissions – 0 USD
  • Minimum lot size – 0.01 lots
  • Islamic option – Yes

Oron Trade Standard Account

The standard account has much lower spreads of 1pip, which is well within the industry standards. However, the minimum deposit requirement is too high. Here are its specs:

  • Minimum deposit – 1,000 USD
  • Maximum leverage – 1:500
  • Spreads from – 1 pip
  • Commissions – 0 USD
  • Minimum lot size – 0.01 lots

Oron Trade ECN Account

The ECN account offers zero-spread trading, which is perfectly suited to scalpers. The commissions are also well within industry standards. Here are all the specs:

  • Minimum deposit – 10,000 USD
  • Maximum leverage – 1:500
  • Spreads from – 0.0 pips
  • Commissions – 7 USD per lot round trip
  • Minimum lot size – 0.01 lots

The minimum deposit for an ECN account is well beyond the threshold for an average trader, which is a serious drawback. There are plenty of regulated brokers that offer 0 pips trading for much lower minimum deposits, and Oron Trade is not competitive in this regard.

Deposit and withdrawal options at Oron Trade

The broker allows plenty of different payment methods for both funding and profit withdrawals. There are no fees charged for either deposits or withdrawals. The list of accepted payment methods includes Visa, MasterCard, Neteller, Skrill, BinancePay, and many crypto coins. There are wire transfers as well. The interesting thing about withdrawals is that the broker claims instant withdrawal processing, which seems too good to be true from an unregulated broker, as all brokers love to make withdrawals lengthy. If Oron Trade were a regulated broker, this offering would be super attractive, but in this case, it seems more like a red flag than a feature.

Oron Trade Assets — What can you trade?

Oron Trade provides access to diverse markets, including FX pairs, commodities, indices, cryptos, and even stocks. Most of these assets are CFDs and enable traders to quickly initialize both long and short positions. CFDs are especially useful on crypto pairs as they enable instant trade execution and traders do not have to wait for network approval, which might take sometimes even hours. With up to 1:500 leverage, traders can control serious position sizes, but high minimum deposit requirements on all accounts beyond micro make the broker expensive.

Trading platforms of Oron Trade

Despite being young, the broker has already adopted one of the most popular trading platforms, MetaTrader 5. MT5 allows both custom indicators and Expert Advisors, and the broker does not prohibit traders from employing these tools. It also offers a copy trading service via the MT5 platform, which is flexible. Mobile trading is available via the MT5 mobile app and enables traders to speculate on markets on the go on iOS and Android.

Education at Oron Trade

Oron Trade lacks comprehensive educational resources. There are no webinars, trading courses, or video guides available, which is a downside for beginner traders. The broker offers a brief introduction to each asset class it provides for trading, but it is not enough to start from zero and master trading skills. Although there is a demo account available and from market tools, the broker only offers an economic calendar, which is useful, but not enough.

Oron Trade Customer Support

Customer support experience at Oron Trade is provided via email, and the broker also offers its address. However, the lack of both live chat and phone support is a serious red flag. While the broker discloses its address, it is not enough for proper support and reliability. The website, as well as support, is only available in the English language, which does not make the broker multilingual.

Oron Trade bonuses and promotions

The broker offers giveaways, contests, and there is also a deposit bonus. The deposit bonus allows traders to get 50% of their deposit on each deposit, which is competitive. However, traders should carefully prepare conditions, as these bonuses often come with complex requirements, and Oron Trade is no exception.

Is Oron Trade your broker? Final verdict

Oron Trade is an unregulated Forex broker launched in 2023. It offers the MT5 platform and multiple account types. While it provides a user-friendly website, diverse assets, and high leverage, the lack of regulations, limited support, and high deposit requirements make it a risky and unattractive choice. Exercise extra caution when dealing with unlicensed brokers.

FAQs on Oron Trade Broker

Where is Oron Trade based?

Oron Trade is an offshore broker registered and located in Saint Lucia.

Can you withdraw from Oron Trade?

Yes, there are various methods but instant processing claims from an unregulated broker is generally a red flag.

Comments (0 comment(s))