OEXN, registered in Mauritius on January 28, 2022, is a CFD broker offering investment services in forex, stocks, commodities, indices, precious metals, energy, options, ETFs, and other CFD trading markets.
The broker operates two companies: OEXN Broker Limited and OEXN Limited, controlling different websites. OEXN Broker Limited does not provide investment and consulting services to residents of the European Economic Area (EEA) and the UK. OEXN Limited does not offer services in jurisdictions that may violate local laws or regulations, such as the USA, Iran, and North Korea.
Company Registration and Regulatory Status
OEXN's Mauritian-registered company, OEXN Broker Limited, has registration number C185235 and was regulated by the Mauritius Financial Services Commission (FSC) on February 7, 2022, with license number GB21026677. Its official website is www.oexn.global, serving investors.
OEXN's Mauritian-registered company, OEXN Limited, uses the trading name "OEXN" with registration number ΗΕ412340, and was regulated by the Cyprus Securities and Exchange Commission (CySEC) on November 21, 2022, with license number 423/22. Its official website is www.oexn.com, serving investors.
Opening an Account
To open an account on www.oexn.global, visit the official website and click on "Register" on the homepage or the top right corner to access the account registration page. Choose the account type, fill in your name, email, country, phone number, and submit the application form. Afterward, you will need to complete KYC verification to register successfully and make a deposit.
To open an account on www.oexn.com, visit the official website and click on "Register for a Real Account" on the homepage or "Login / Signup" at the top right corner to access the account registration page. Choose the account type and trading platform, fill in your name, email, country, phone number, and submit the application form. Afterward, you will need to complete KYC verification to register successfully and make a deposit.
Trading Accounts
The two websites operated by OEXN offer different types of trading accounts: www.oexn.global provides three types, while www.oexn.com offers four, each with distinct features.
www.oexn.global offers three trading accounts: Standard Account, Pro Account, VIP Raw Account:
Standard Account:
- Minimum deposit: $200
- Trading platforms: MT4, MT5, Omnitrader
- Spread: from 1.1 pips
- Commission: 0
- Tradable products: forex, indices, energy, metals, stocks
- Maximum leverage: 1:1000
- Features: social trading, swap-free qualification, PAMM management
Pro Account:
- Minimum deposit: $500
- Trading platforms: MT4, MT5
- Spread: from 0.8 pips
- Commission: 0
- Tradable products: forex, indices, energy, metals
- Maximum leverage: 1:1000
- Features: social trading, customizable groups
VIP Raw Account:
- Minimum deposit: $200
- Trading platforms: MT4, MT5
- Spread: from 0 pips
- Commission: $4 per lot per side
- Tradable products: forex, commodities, futures, indices, cryptocurrencies
- Maximum leverage: 1:500
- Features: social trading, PAMM management, Tier 1 liquidity
www.oexn.com offers four trading accounts: Starter, Seasoned, Sharp, Professional.
Starter:
- Minimum deposit: $500/€500
- Spread: from 1.2 pips
- Commission-free
- Negative balance protection
- Trading platforms: MT4, MT5
- Deposit protection
- Segregated client funds
Seasoned:
- Minimum deposit: $5000/€5000
- Spread: from 0.0 pips
- Commission: $4 per lot per side
- Negative balance protection
- Trading platforms: MT4, MT5
- Deposit protection
- Segregated client funds
Sharp:
- Minimum deposit: $10000/€10000
- Spread: from 0.0 pips
- Commission: $2.5 per lot per side
- Negative balance protection
- Trading platforms: MT4, MT5, MAP
- Deposit protection
- Segregated client funds
Professional:
- Minimum deposit: $10000/€10000
- Spread: from 0.0 pips
- Custom commission rate
- Trading platforms: MT4, MT5, MAP
- Stop-out level and margin level: 30%
- Segregated client funds
Trading Platforms
OEXN claims to offer MT4, MT5, and its self-developed trading platform on both of its websites. However, only OEXN Limited could be found in the MT5 platform, and no information was present for MT4. For OEXN Broker Limited, no information was found on either MT4 or MT5 platforms.
Deposits and Withdrawals
OEXN supports deposits and withdrawals via bank transfer, credit/debit cards, and e-wallets such as Skrill and Neteller.
Risk Warnings
Companies registered with the Mauritius Financial Services Commission (FSC) and Cyprus Securities and Exchange Commission (CySEC) have regulatory limitations.
Mauritius Financial Services Commission (FSC):
- Relaxed Regulation: FSC's regulation is relatively relaxed. Mauritius, as an offshore financial center, attracts many financial service companies seeking fewer regulatory restrictions. Although FSC has regulations and oversight mechanisms, these are less stringent compared to the primary financial markets in Europe and the USA. Some non-compliant or high-risk companies may exploit this, leading to less transparent operations and increased investor risk.
- Lower International Recognition: Mauritius, as an offshore financial center, has limited global reputation and influence. This may cause FSC-regulated companies to struggle to gain international investor trust in certain situations.
Cyprus Securities and Exchange Commission (CySEC):
- Over-Reliance on the EU Framework: Although CySEC's regulation is based on EU standards, it is sometimes criticized for not being strict enough in punishing violations. This may result in companies following minimum standards while attempting to evade stricter compliance requirements.
- Offshore Center Attribute: CySEC's regulation is less stringent compared to primary financial markets in Europe and the USA. Cyprus, as a tax-advantageous financial center, attracts companies seeking lower tax burdens and regulatory costs. Some companies may choose to register in Cyprus to avoid a stricter regulatory environment.
Conclusion
OEXN is an emerging CFD broker, holding both FSC and CySEC licenses. However, these licenses possess offshore center attributes with less stringent regulation. Additionally, some information on the broker’s website can be misleading.
Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to prevent unnecessary financial losses.
Currently, this broker is marked as "operating illegally" on Traderknows.
