OdinTC Review – Unlicensed Aussie Broker

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OdinTC is a suspicious forex and cryptocurrency broker that appears to be operating out of Australia. Management and owner history of this platform is hidden. Domain analysis shows a lot of red flags and their age is certainly not helping their image. Trading conditions are not the most ideal and spreads are on the higher side.

On Trustpilot, they have received positive ratings. However, the sample size is not reassuring. To know whether they are trustworthy or not, continue reading and make an informed decision.

OdinTC Overview

 

OdinTC provides access to cryptocurrencies and forex pairs to retail traders. The exact range of asset classes is not made clear and for obvious reasons, we were hesitant to open an account on their platform.

Spreads even on the higher tier account type are huge and trading costs are not outlined. In other words, we don’t know whether they support scalping or day trading. FAQ section is also a mystery and the lack of clarity is beyond astonishing.

We suggest you reach out to the support team for clarifications before making any kind of move. After all, no one can afford to roll dice when it comes to the brokerage right?

 

Regulation and Support

 

Regulation is an important aspect. While few unregulated brokers have been around for a considerable amount of time, most of them turn out to be shady operations. OdinTC is not just an unregulated entity, they don’t even have proper licenses which makes them illegal.

Insurance of funds might be fabricated and Australian authorities have issued warnings about them. Clearly, they cannot be trusted and as such, it is in your best interest to walk away from them.

Ways of reaching the support team is limited to email, though a phone number is provided. Address is not shared on the platform.

If they really had nothing to hide, why are they refusing to share key information?

 

Is OdinTC a Scam?

 

This platform is certainly a shady entity. Operating without proper certificates and licenses is a huge offense and if caught, creators might end up in jail for a long time. As they are not regulated, any funds under their control can disappear or be lost at any time.

In other words, investors are not secured and to be in that position is a deadly sin in the industry. Keeping in mind all the concerns discussed till now, ask yourself, do the benefits outweigh the risks? Obviously no right?

 

Conclusion

 

Avoid platforms like OdinTC. They have conflict of interest with the clients and are likely to bite the dust sooner or later. If you are facing any issues with them, use our platform to voice your opinion.