Beware of Scams! The Website of Unlicensed Broker Ocean Markets Changed

A well-designed website is a prop that almost all forex scammers will prepare for their scams, but these websites don't exist forever. When the scammers believe that too many people have recognized the scam, want to cut ties with existing customers, or by the regulator warnings, they shut down the site and open another one to continue the fraudulent activity at the time they think is appropriate. Ocean Markets, the unlicensed broker exposed by BrokersView last year, was found to have more than one website.

The website previously used by Ocean Markets (https://oceanmarkets.org/) is now inaccessible and replaced by a new one (https://oceanmarkets.biz/). However, fancy design can never hide the scammers' true face.

As before, the broker claims to be operated by Valep Ltd, a company registered with International Registries, Inc. in the Marshall Islands (IRI). While it is true that a company named Valep Ltd can be found on IRI's website and that the certified address matches the one Ocean Markets claims to have, this does not prove its forex authorization. IRI is not a forex regulator, so it is highly misleading for Ocean Markets to use the registration as a financial certificate.

^{(Ocean Markets claims to be operated by Valep Ltd, an IRI-registered company)}

In fact, the scammers drew the attention of the UK's Financial Conduct Authority (FCA) in May last year and were warned. Three days after the warning was issued, Ocean Markets created the website it currently using to continue its fraudulent activities.

^{(FCA warning)}

^{(The new website of Ocean Makets was created on 14 May, 2023)}

According to an actual victim of Ocean Markets, he was approached by the scammers with the offer of a free Forex trading book and convinced to deposit $500 on the platform. However, the money deposited could never be withdrawn. Meanwhile, the scammers kept persuading him to trade with the money until it was all lost. The victim also pointed out that the scammer was from the Philippines, although he did not give evidence for this claim.

^{(A victim is complaining about Ocean Markets)}