Omega Pro – Scam or Legit?

By Chadd

Who is Omega Pro？

According to the founders of Omega Pro it is a broker that provides its clients access to a wide variety of trading instruments such as currencies, commodities, crypto, stocks and indices, with well over 200 assets in total. They also offer investment packages, with insane returns of 200% to 300% after a period of 16 months guaranteed, laughable considering that markets are fractal and it is impossible to predict a specific return over a specific amount of time, no body can tell the future and accurately say that the market will be at a specific level in almost a year and a half, what is surprising is that withdrawals are actually encouraged but investors are then also sold on the idea of compounding their gains by either leaving the money in the account to continue leveraging the investment, if clients do withdraw they are only allowed to withdraw 60% of their funds and must reinvest the remaining capital, alarm bells start ringing at this point. Once you have invested and obtained membership you are then introduced to the real motive behind Omega Pro, and MLM or Multi Level Marketing program that earns you additional income by recruiting new members, the entry fee is $29 and packages range from $150 AL the way to $15 000, remember that where any kind of recruitment is involved, it is most likely a pyramid scheme. Although some may operate within legal bounds, 9 out 10 pyramid schemes are fraudulent.

Omega Pro Legitimacy

Some don‘t know this but Omega Pro was actually founded in 2018 and eventually launched to the public in 2019, the business was registered in Saint Vincent and Grenadines and using a virtual address in the United Kingdom, but to date have not been licensed with the Financial Conduct Authority even though they make claims about being legally licensed on their Facebook page, which means when Omega Pro closes it’s doors, a refund will be nearly impossible, if it happens at all, the CNMV Spanish regulatory agency also released statements that Omega Pro is an unauthorized financial services provider and the FSMA a Belgian regulatory agency issued a public warning about a potential ponzi scheme at Omega Pro as well as the FSC in Mauritius issuing an investor warning against Omega Pro business practices, although they encourage withdrawals they actually seem to use this to blind their victims by baiting them with the idea of “compounding gains” to achieve the full 300% return after 16 months, and also trapping them by forcing them to reinvest a percentage, this kind of business model still serves toward the same end goal as a ponzi scheme, paying old investors with new investors money, shameful!

Honestly, in our opinion this company exhibits every aspect of an well thought out scam, unrealistic returns, compounded gains, ridiculous withdrawal policies, trading platform that is constantly reported as inactive or “coming soon”…. With all these red flags we would like to urge all investors to proceed with extreme caution or just stay away completely.

Omega Pro recent activity

After all the warnings by international regulatory agencies and people realizing what was actually going in with Omega Pro, the company went silent for a short while, more recently the company has once again surfaced and is becoming increasingly active and heavily marketing in Nigeria and South Africa from posting business proposals on YouTube in April 2022 to holding virtual events come mid May 2022, WikiFX will be attending to help our members identify its legitimacy but after doing current research I can say that the company is definitely active still unlicensed by the FCA and showing all the same red flags as previous years, this company remains a high risk investment, in fact, Omega Pro is currently under investigation in Congo, where two arrest warrants were obtained for two of Omega Pro officials in the region, if you have already made financial commitments to the company please be mindful your funds.

Conclusion

Based on the company history, past and present business models and especially the long warning list made by financial authorities, Omega Pro is does not seem like the type of firm that should be entrusted with investments, there are just way to many red flags to consider when investing with Omega Pro and without the necessary regulations, investments here are extremely risky…

Omega Pro has repeatedly been labeled as a scam, and does not seem to have changed much.

At WikiFX we plan to keep our finger on the pulse and report on Omega Pro as and when the news breaks, download our app to stay in touch with this developing story.