NeoOmatic is another offshore & nonregulated CFD broker that opened recently on January 26th 2021. Their website is no longer working. This broker is identical to other brokers that we have reviewed before, because they are using white label software.
You are not the only person who is having problems with the brokers at Neo Omatic. We have received quite a few complaints from other investors, read this.
Day Traders and Investors at NeoOmatic offered the white label web-based trading platform called Status. This trading platform is very basic, and user friendly for new trader, but it is lacking many important features. They use an antiquated charting system, so no Trading View charts with these guys. If you have dreams of becoming a real day trader, then you will not find the industry standard Meta Trader 4 (MT4) trading app. All investors today are look for a decent mobile trading app, but this broker doesn’t offer one.
Like all brokers, they offer a nice variety of underlying assets for CFD trading including; Forex Major, Forex Minor, Crypto Currency, Gold, Silver, Oil, Natural Gas, Market Indices, and Shares. Margin rates on $BTCUSD are 10:1 and the spread is $100. Since you signed up to NeoOmatic from a Bitcoin Profit type scam the minimum required deposit is $250.
This broker uses a few different payment processors including; Paytrio or xPayz.net. When depositing money at a broker that uses crypto payment processors, you lose your credit card fraud protection.
Crypto Trading App Scams
Like most people reading this review, we found this broker, because we signed up for the Aussie Formula trading app.
You should really take a few minutes to learn about auto trading signals, see here.
Is NeoOmatic a Legit Broker?
No, NeoOmatic is not a licensed or regulated broker, and they are not supervised by any government agency. Although they are targeting people in South Africa, they are not regulated by the FSCA.
Officially they are owned and operated by Mellifluous Group Ltd, 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. Customer support email address is: [email protected]. They are operating two websites; Official website is at: https://NeoOmatic.co/ and the website for the trading platform is at: https://webtrader.NeoOmatic.cc/. No contact phone number is listed for this broker, but when you signup for a new account, you usually get a high pressure sales call within 30 seconds.
When the Scam Broker Investigator reviews a new Forex or Crypto CFD broker to see if they are a scam broker or a legitimate broker, we check for a license from any of the government financial regulators.
Using a local brokerage firm, that is licensed in your country ensures that you will not have problems withdrawing your profits. Brokers in Australia must have a license from ASIC, while brokers in England must be regulated by FCA.
Compare Regulated Brokers
New investors looking for a good online broker have plenty of brokers to choose from.
Try a Free Demo Trading Account at: VantageMarkets.com.
If you are already investing at NeoOmatic, please share your experience using this broker with other readers in the comments section below.