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Opo Forex, now known as Opofinance, has made a significant presence among established brokers despite being relatively new. This broker has managed to attract around ten thousand active users from various parts of the world.
One of the notable features of this broker is its support for copy trading, which allows individuals to follow the trading strategies of professional traders.
This feature is particularly useful for novice traders in the forex market, as it gives them the opportunity to benefit from the experiences and trading strategies of more experienced individuals and achieve profits.
However, it should be noted that profits and losses in financial markets are not entirely predictable, but it is possible to leverage the experiences of seasoned traders.
An important point about Opofinance is that the broker does not offer services to users from countries such as Canada, Australia, Japan, South Korea, and the United States, while users from Gulf Arab countries, including Iran, can benefit from its trading services.
Opofinance, operating under the original company name OPO GROUP LTD, is recognized as a securities provider in Seychelles with official registration number 8430865-1 and is regulated by the Seychelles Financial Services Authority (FSA) under license number SD124. The company’s registered address is CT House, Office 9D, Providence, Mahe, Seychelles.
OPO GROUP is also a member of The Financial Commission, a global body dedicated to resolving disputes in the financial services industry, particularly in the forex market. This organization has offices in Hong Kong and London and plays a key role in protecting traders’ rights, providing insurance coverage of up to €20,000 per claim.
In addition, OPO GROUP LLC is regulated under an investment services license according to the Limited Liability Companies Act and Chapter 151 of the Revised Laws of Saint Vincent and the Grenadines with registration number 866LLC2021.
Opo Forex, operating under the brand name Opofinance, offers four types of diverse trading accounts. Here’s an analysis of each:
Opofinance offers a broad range of financial instruments, providing traders with diverse investment opportunities and exploration options:
Each of these financial instrument categories offers diverse opportunities for traders to diversify their portfolios and add depth to their trading strategies.
Opofinance offers various leverage levels based on trading volumes, ranging from a maximum of 1:1000 to a minimum of 1:5 for cryptocurrencies. Here are the detailed leverage levels provided by Opofinance:
This range of leverage allows traders to choose according to their strategies and trading volumes.
Opofinance, operating under the brand OPO GROUP LTD, utilizes three reputable trading platforms to provide its trading services: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
These platforms are highly pOpolar in the forex and CFD industries due to their strong charting capabilities, technical indicators, and algorithmic trading features.
Each of these platforms offers unique features and advantages, catering to different trading needs and prefere.
Opofinance sets different spreads for each of its trading accounts. In the Standard accounts, no commissions are applied to traders, a feature also present in their Copy Trading accounts. However, these accounts have relatively higher spreads, starting from 1.8 pips.
In the professional ECN accounts offered by Opo Forex, spreads start from 0.8 pips. For these types of accounts, a commission of $6 per traded lot is applied, which is suited to the professional standards for traders.
To start with Opofinance, the first step is to register on the website. This process begins by clicking the “Create Account” button located at the top left of the homepage, which directs you to the registration page.
At this stage, you need to enter your information in English, including your date of birth, first and last name, country of residence, phone number, password, and other required details. It is important that the information is entered accurately, as it will be verified with documentation in the later stages of the verification process.
After entering your information, a PIN code will be sent to your email, which you must enter in the appropriate form to complete the registration process.
Once registration is completed, you will access your user panel and need to promptly go through the verification steps.
To log in to your Opofinance account, use the “Login” button on the homepage and enter your login details. If you forget your password, you can use the password recovery option.
The verification process includes accepting several important agreements, followed by phone number verification. Next, select your nationality and upload the required documents. It is important to provide clear and accurate photos. Then, take a selfie using the site’s camera and enter your exact address.
After completing these steps, you will need to wait for the review of your documents by Opofinance experts. If there are any issues or questions, you will be notified via ticket.
In the image above, we can see that the Opofinance broker’s user panel consists of several key sections that users should be familiar with. Here’s a breakdown of these sections:
Each of these sections has a specific function designed to enhance the user’s experience and ensure effective management of trading activities. In the following, we will provide a more detailed review of each section and how to use them.
At Opofinance Broker, you can deposit and withdraw funds using various methods. To deposit funds, follow these steps:
To withdraw funds from Opofinance:
These diverse deposit and withdrawal options provide flexibility and convenience for traders, especially for Iranian users seeking Rial and cryptocurrency methods.
Opofinance demonstrates strong customer support performance. Based on user experiences and reviews, response times are typically under 30 seconds, reflecting the efficiency and high quality of their support team.
Users can access support through their user panel on the website:
Bonuses:
These bonuses allow users to enhance their trading experience and take advantage of additional trading opportunities.
At Opofinance broker, prizes and bonuses change periodically. For accurate information about them, please refer to the Promotions section in your account. Additionally, up-to-date notifications about prizes and bonuses will be sent to you via email.
If this section is empty, it means there are currently no active promotions. To learn about future promotions, it is recommended to contact the Opofinance support team.
The step-by-step instructions to receive a bonus from Opofinance are:
It is important to note that some bonuses may include additional instructions, in which case, details about receiving the bonus will be provided by Opofinance.
A welcome bonus (registration bonus) is a reward given to new users of brokers or trading platforms. This bonus is usually offered to those who have recently registered and made their first deposit. However, it is important to know that the welcome bonus is not currently available among Opofinance’s bonuses and is not offered to new users.
The Opofinance Nitro Bonus was one of the bonuses offered by Opofinance. This bonus was active during the period of Tir 1402 (July 2023) for one month. During this promotional campaign, traders who participated in the Opofinance Nitro Bonus could benefit from:
Opofinance, a broker with a long history of providing trading services to Iranian clients, has recently expanded its services by adding prop trading in collaboration with the ForFex group. This new option allows professional traders to access the necessary capital to trade, participate in prop trading challenges successfully, and test their skills without risking their own capital.
ForFex, as a prominent company in the prop trading field, has introduced innovative strategies in this area. This company, in collaboration with Opofinance, provides the opportunity for Iranian traders to participate in prop trading challenges.
Opofinance allows users from around the world, including Iranians, to register on the site and use the prop trading plans.
By investing a minimum of $1000, you can enter the “FORFX Challenge” and, by earning the required points, receive up to $200,000 in capital as a dedicated trader.
To benefit from Opofinance’s prop trading service, first visit the Forfx.com website and click on the registration option to display the relevant form.
At this stage, enter details such as your first name, last name, contact number, and other requested information. Choose a username, then enter your country, first name, last name, email, contact number, and password, and click the Sign Up button to create your account.
After logging into the user panel, you will encounter a message indicating no active evaluations. By clicking on the provided link, you will be directed to a page where you first enter your exact address and then select your desired plan.
The rules for trading in Opofinance’s prop trading plans are very important, including:
OpoFinance has aimed to enter the market successfully by leveraging the positive features of other Forex brokers.
This broker offers a variety of trading accounts, reasonable spreads, and the option for deposits and withdrawals in Rial, along with a Persian-language website, providing notable advantages for its users.
However, aspects such as less experience in the market, less well-known regulation, and a relatively high minimum deposit might pose challenges for some traders.
The importance of a broker’s history and experience in the Forex world is well-recognized. Therefore, investors are advised to seek out more experienced brokers in the market for greater assurance.
You can search for a comprehensive list of Forex brokers through reputable links to have a wider range of options to choose from.
