Ollyn Investment PTE LTD

Investigating Ollyn Investment PTE LTD: A Comprehensive Review

We present you another hero to discuss today: The Ollyn Investment PTE LTD review was published at the request of our readers who wanted to know whether this CFD broker can be trusted. We’ll give a clear answer right away‌ — ‌no, this platform was created by scammers with the sole purpose of collecting users’ funds. More details about this scam project and trader opinions can be found below.

Key Takeaways:

• The company is not registered in Singapore or any other jurisdiction, and the name it uses belongs to a legitimate company that has no connection to the broker.
• No regulatory body has issued any licenses for brokerage activities, meaning the services are provided illegally.
• The company hides all crucial information, from trading conditions to payment details.

Is Ollyn Investment PTE LTD Trustworthy?

The official data provided on their website ollyninvestment.com is highly questionable. All that can be found is the company name, but there is no information about registration or licensing. However, on the “Contact Us” page, there is an address in Singapore and a phone number with the country code. Based on this, we conducted a search in the business registry.

The results showed that a company with this name is indeed registered. It was established in December 2003 and is considered active, although the renewal and annual report dates expired two years ago, and no updates have been made.

It’s worth noting that the company’s registered business activity is “OTHER FINANCIAL SERVICE ACTIVITIES, EXCEPT INSURANCE AND PENSION FUNDING ACTIVITIES N.E.C.,” which could technically fit a broker. However, this legitimate firm has nothing to do with brokerage services. First of all, its capital is listed as only 2 Singaporean dollars. We believe this is insufficient for a broker operating using the DD (Dealing Desk) model and executing traders’ orders on its own. Furthermore, the local financial regulator, MAS, has not issued this company a license for brokerage or dealer activities. This suggests that the company never intended to provide such services.

There’s another important detail: according to the whois service, the domain ollyninvestment.com, which represents this trading platform online, was only registered on August 14, 2024.

It’s hard to believe that a company registered in 2003 spent 21 years developing its website. A far more realistic explanation is that the project, created just a month ago, is using the name of a legitimate firm.

Here are a few big red flags:

• Visitors cannot register independently without contacting support. The registration form has a special field where you need to enter a Registration Code, which can only be obtained from the company’s representatives.
• Payment details cannot be found anywhere on the website. This, of course, is a violation of laws and regulations in most jurisdictions. But it’s understandable for Ollyn Investment PTE LTD, as the company doesn’t have an official registration or a bank account to provide.
• The platform owners also do not publish trading conditions. Even the maximum leverage could only be found in the FAQ. Traders will have to learn all other transaction parameters through trial and error in real trading, as there’s no demo account available.
• It’s also worth noting that the broker attracts user funds in cryptocurrency with guaranteed payouts. The company offers four investment plans with terms of 15, 20, 180, and 340 days. Investors are promised returns of 21.24%, 28.81%, 34.33%, and 41.42%, respectively. The deposit amounts range from 2,500 to 1,000,000 USDT. However, the broker fails to disclose the source of income or the entity guaranteeing these payouts. In our opinion, when a company starts to resemble a trivial HYIP (High Yield Investment Program), there’s no longer any reason to believe in its honesty.

We believe Ollyn Investment PTE LTD has demonstrated that it cannot be trusted. This fake company has employed nearly every scam tactic known. We hope that few people will be willing to risk their funds by depositing with this broker.

Exploring Fees and Charges

One of the main concerns for any trader is the costs they will incur with a particular broker. Ollyn Investment PTE LTD has gone to great lengths to conceal this information:

• The website provides no details about the spreads, swaps, or trading commissions. Essentially, the broker’s clients are completely unable to assess the profitability of trading before registering. The company’s motives are clear: their trading offers are likely not very favorable, and they don’t want to lose potential clients.
• There is also no mention of deposit or withdrawal fees. Moreover, even the list of available methods for non-trading operations can only be found in the FAQ. We know all too well the value of such statements from scammers. Often, even the payment methods listed are absent from the user’s account, with deposits processed either to cryptocurrency wallets or private bank accounts (belonging to drop accounts).

We’re not saying that this is exactly what will happen with the broker, but the chances are very high. It’s no coincidence that the company has tried to block independent registrations.

How User-Friendly Is the Trading Platform?

Information about the Ollyn Investment PTE LTD trading platform published on the official website is also incomplete. Getting a closer look at it isn’t easy either: their support team never provided us with a Registration Code.

However, a careful look at photos of the terminal, as well as the login form for trading, allows us to confidently say that this is not modern, cutting-edge software. The broker offers its clients the well-known trading platform from Easy Technologies, which many scam victims are familiar with. It does have a few advantages, such as multi-asset charts and a simple, user-friendly interface.

Meanwhile, the platform’s drawbacks are far more significant and, importantly, well known to traders:

• The market overview is poorly organized. Traders are practically unable to quickly select the necessary ticker, which significantly affects the profitability of certain trading systems and strategies.
• The number of graphical tools available for chart analysis is minimal. As a result, some traders are unable to use their usual tools and are forced to make changes to their own trading systems, often leading to a loss of accuracy.
• There’s no ability to create custom modules or connect third-party tools (such as indicators and advisors). As a result, the platform’s functionality is significantly reduced.

However, the platform has an even more serious flaw: the administration of the trading servers can directly interfere with the price feed and modify it at their discretion. Needless to say, it’s impossible to expect fair trading in such conditions.

What Do Clients Say?

The broker claims to have over 20 years of experience in the industry, but in reality, they have been around for just over a month. This explains the relatively few Ollyn Investment PTE LTD reviews online. Nevertheless, you can find both positive and negative opinions about the company.

There’s no doubt that the positive reviews were generously paid for by the platform’s owners. Otherwise, it’s hard to understand why the authors don’t see the many problems we’ve discussed, and instead, they praise the fake broker’s nonexistent advantages. There’s even a post calling it “the new hope in the Forex market.”

However, on most thematic portals, experts are much more honest. They label Ollyn as a blatant scam and point out many signs of fraud. These posts advise against opening and funding trading accounts with this company. We hope traders heed these warnings.

Final Thoughts: Can You Rely on Ollyn Investment PTE LTD?

In this review of ollyninvestment.com, we successfully accomplished our task: we demonstrated that this broker cannot be trusted and provided solid arguments to support this point of view. The lack of registration and licensing, using another company’s name, and the effort to conceal critical information from traders all indicate that the likelihood of losing your entire investment here is nearly 100%. We wouldn’t risk sending money to this fake company’s accounts. The overwhelming majority of the trading community agrees with our conclusions, and others should take heed of this as well.

Strengths and Weaknesses