About OCEAN TRADES
Who is OCEAN TRADES?
OCEAN TRADES is a retail forex and CFD broker that was established on 6 March 2024. The company is registered in New Zealand, with its registered office at 25d Churchill Street, Christchurch Central, Christchurch 8013. The broker presents itself through a website at ocean-trade.org, which features a support portal and basic contact information.
Regulation and Licensing
As of the time of this review, OCEAN TRADES does not hold any regulatory licence from a financial authority. The broker is not listed on the registers of major regulators such as the FMA (New Zealand), FCA (UK), or CySEC (Cyprus). The absence of regulation is a significant factor for traders to consider, as it means the broker is not subject to standard investor protection schemes, capital adequacy requirements, or mandatory reporting.
Account Offerings
OCEAN TRADES provides four distinct account types: STARTER, STANDARD, SILVER, and GOLD. The STARTER account requires a minimum deposit of $300, while the STANDARD account requires $1,000. The SILVER account demands a $5,000 minimum, and the top-tier GOLD account requires $10,000. Leverage details are not specified on the website, and there is no information on whether Islamic (swap-free) accounts are available.
Trading Instruments and Platforms
No information is provided on the broker's website regarding the range of tradable instruments or the trading platforms offered. It is unclear whether OCEAN TRADES offers forex pairs, indices, commodities, cryptocurrencies, or CFDs on stocks. The platform type (e.g., MetaTrader 4/5, cTrader, or a proprietary solution) is also not disclosed.
Deposits and Withdrawals
The broker does not detail its funding methods or withdrawal procedures on the publicly accessible parts of its website. Potential clients would need to contact support or register to obtain this information. The lack of transparency on payment processors and withdrawal timelines is a point of caution.
Customer Support
OCEAN TRADES offers customer support via email at support@ocean-trade.org. The physical address in Christchurch, New Zealand, is listed, but no working phone number is provided. The website states a phone number will be available in the future, suggesting that the broker is still in the process of setting up its support infrastructure.
Summary of Risks
As a newly established broker with no regulatory oversight and minimal public footprint, OCEAN TRADES carries inherent risks. Traders should exercise due diligence, particularly regarding the security of funds and the reliability of trade execution. The elevated scam risk score of 52/100 reflects these concerns. It is advisable to verify all information directly with the broker before committing any capital.
Overview compiled by FXCanary from regulatory records and public data. full OCEAN TRADES review