OmegaPro – An Illegal Scheme by Dilawar Singh (New Update 2023)
OmegaPro is an unregulated forex broker. It has gained notoriety as a scam.
The broker claims to be ‘omnipresent’ and allows its clients to trade with stocks, currency pairs, commodities, and indices. Overall, it offers over 200 underlying assets for you to trade.
OmegaPro is a financial scam. It has an unauthorized broker and poor investment service. Many individuals suffered heavy losses while doing the investment in it. These schemes provide bogus online trading platforms for their clients.
It is best to avoid these platforms that pretend to conduct real business.
Furthermore, it offers an investing scheme. There, they claim to give you returns of up to 300% after 16 months. The minimum withdrawal limit at OmegaPro is $150.
Similarly, the registration fee at OmegaPro is $29.
Who is the OmegaPro CEO?
The CEO is Dilawar Singh. He claims to be a thought leader in the forex trading industry.
Moreover, Dilawar Singh claims he has launched ventures in cryptocurrency vending and has several creative undertakings.
However, the man hasn’t succeeded in sharing any proof of his claims.
Since the launch of OmegaPro, he has attracted a ton of negative attention as the company has scammed many investors.
Is OmegaPro a Scam?
Several regulatory authorities across the globe have issued warnings against this forex broker. The company claims to be a forex brokerage service in St. Vincent Gredanise.
However, the company has no registration there.
The company claims to offer financial and investment services but has no licenses from any regulators. It is illegal.
This means, if you invest with them, your deposits will have no insurance. So, if they vanish with your funds, you wouldn’t be able to get any refunds.
Received Warnings from Financial Regulators:
CNMV, the Spanish financial watchdog, has confirmed that the company is a scam. Hence, you should stay away from this broker.
Additionally, FSMA has issued a public warning against OmegaPro saying it shows signs of being a Ponzi scheme. Note that FSMA is the financial regulatory authority in Belgium.
Apart from CNMV and FSMA, the French financial watchdog (AMF) has also blacklisted this company.
Recently, FSC Mauritius issued an investor alert against OmegaPro as well. They point out that the forex broker has no license and is not regulated by the FSC.
OmegaPro World has been blacklisted by a ton of global financial regulators. It suggests the broker is not as reliable as it claims to be.
OmegaPro Investment Packages: Unreliable and Shady
If you’re considering going with OmegaPro investment packages, you would be making a grave mistake.
That’s because the Forex broker is a scam. It is running an illegal investment scheme that puts you at extreme risk.
According to its ‘Risk Disclosures’ document, the company takes no responsibility if you lose all of your invested funds.
Moreover, the company has no license to operate as a financial services provider nor does it have a license to operate as a forex broker.
Top Reasons Why You Should Avoid OmegaPro World:
Apart from receiving warnings from multiple financial regulators around the globe, OmegaPro has a ton of other issues.
Hence, before you consider investing your hard-earned money with them, it would be best for you to consider the following points:
OmegaPro is Not a Legit Broker
The biggest red flag in this broker is that it is not a broker at all.
It claims to be a forex broker but it shares no trading platform. The website doesn’t give you access to any trading platform as well.
Certainly, the broker doesn’t have any facilities where traders can perform real trades.
Although the company entered the market in 2018, it hasn’t been able to show any true trading exchange.
When you sign up, you see that all the facilities are marked “Coming Soon”.
The only thing you see on it is a pyramid scheme of referrals. In other words, it is not a forex broker but a Ponzi scheme.
It Shares No Trading Conditions
There is no information available on the trading conditions of this ‘broker’.
OmegaPro World claims to make money through AI-based trading algorithms.
However, the company is not trading in real markets.
The only way Dilawar Singh OmegaPro is making money is by selling the pyramid scheme of OmegaPro referrals. Note that pyramid schemes are illegal in most countries as they are fraudulent.
OmegaPro Has No Registered Office
The broker claims to be based in St Vincent and Grenadines.
However, the company has no office there. I looked up the financial register and commercial register of St Vincent and Grenadines.
There was no sign of OmegaPro World.
The registration number this company shares (25857BC2020) is not present on any register. It is only present on their website.
It is Facing a Criminal Investigation
The authorities in Congo have launched criminal investigations against OmegaPro. They have filed cases against 2 managers of this company.
This action aims to prevent the firm from promoting its dubious scam.
Scammers tend to target the forex industry as it is extremely lucrative and has a broad market. It isn’t the only scam that has received criticism from consumers and authorities.
Another forex scam is Eurotrader, a broker which has received a ton of negative attention from its customers.
What is OmegaPro Network?
When I looked at OmegaPro World, I didn’t find any evidence of them being actual forex brokers.
However, I realized the true extent of this scam when I visited the website of OmegaPro Network.
There, you will see a long list of “licenses”. According to the broker, every license has a minimum deposit requirement.
However, OmegaPro Network fails to mention the benefits of each license.
The pricing of these licenses starts from $100 and goes up to $50,000.
Then, you have their classification of ranks. They reveal how OmegaPro is not a forex broker but merely an MLM scam:
In a pyramid scheme or MLM scam, the company asks you to invest to join its network. Then, you have to recruit 3-5 additional members and make them invest in the firm.
The company entices you to recruit new members by offering a certain percentage of the investments made by your recruits.
Now, the task of your recruits will be to add 3-5 more members to the network each. As the network grows, so should your commission.
On paper, it all sounds good. However, it’s worth noting that in an MLM scheme, most of the profits will go to the company and you won’t receive much.
Dilawar Singh might make a ton of money but that won’t be true for you.
Almost all investors of MLM scams lose their investments. That’s why they are illegal.
OmegaPro Network isn’t the only MLM scam marketing itself heavily. Penney Ooi of WFG is doing the same with her firm.
OmegaPro Wikipedia: Latest Claims
To distract consumers from the numerous warnings and lawsuits, OmegaPro relies on online and offline events.
It has been holding events with Jordan Belfort, a convicted scammer who became famous through a book.
Furthermore, it has organized events in Dubai, UAE to attract investors.
The sole purpose of its live streams and events is to attract as many investors as possible. Due to the lack of any license or regulation, OmegaPro can disappear with the money of its investors at any time.
By using deceptive marketing tactics, it is trying to bury any news mentioning how it has been blacklisted in France, Belgium, Mauritius, Congo, and several other countries.
OmegaPro Review: Verdict
OmegaPro World is a scam.
Although it claims to be a forex broker, it is only a pyramid scheme that targets consumers in South-East Asia and Africa.
Multiple financial regulators have flagged this firm as a scam.
Your money is not safe with them as the company can disappear with your money whenever it wants.
It has no license or regulation as well.
Due to these reasons, I don’t recommend signing up with OmegaPro.
OmegaPro World (and OmegaPro Network) is a dangerous scam posing as a forex broker. It has no license or registration and has been blacklisted by multiple financial regulators across the globe. Dilawar Singh, the CEO of OmegaPro, fails to provide any proof to back up the claims of the company. Avoid it at all costs!
- Not a legit broker
- Flagged by financial regulators of France, Belgium, Spain and Mauritius
- Makes false claims
- Relies on deceptive marketing
- Facing criminal cases in Congo
- An illegal pyramid scheme