Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighThree genuine licences are confirmed (Seychelles FSA dealer, FSCA intermediary, ASIC advice-only), but the published client agreement is with an unlicensed St. Vincent company and none of the licences protects deposits.
Identity & transparency
5/10 · ModerateAll four companies are real and match their registers, but no owners are named, the regulation page mislabels which company holds which licence, and the app listing gives a Turkish phone number.
Withdrawals & conduct
6/10 · HighRepeated reports on several platforms of profits and bonuses cancelled after the broker flagged trading, confirmed by its own replies; deposits were reportedly returned and nobody reports a fee demanded to release funds.
Reputation
5/10 · ModerateTrustpilot 4.8 from 541 reviews and Google Play 4.4 from 393, partly lifted by a batch of five-star reviews published on the same day; a compliance blog rated it Red; no regulator warnings.
Website claims
6/10 · HighCalls an SVG company number a licence, presents an advice-only ASIC licence as oversight of its business, lists a dispute body among its regulators and once described that body as insuring client funds.
Operational history
2/10 · LowAbout five and a half years of continuous operation since February 2021 under one group, with a 2022 rebrand from Opoforex; the contracting company is not dated on any registry.
Who they are
A quick desk file on the company behind the brand.
- Brand: Opofinance. It traded as Opoforex until it renamed in 2022.
- Legal entity: Opo Group LLC, St. Vincent and the Grenadines, company no. 866LLC2021. The client agreement names this company and is governed by St. Vincent law.
- Other group companies: Opo Group Ltd (Seychelles, reg. 8430865-1), OPO FINANCE (PTY) LTD (South Africa, reg. 2024/235157/07) and OPO FINANCE PTY LTD (Australia, ACN 050 569 250).
- Registered: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown (SVG); CT House, Office 9D, Providence, Mahe (Seychelles); 3rd Floor, 34 Whiteley Road, Melrose Arch (South Africa); 11 Lillian Street, Cottesloe WA (Australia).
- Website: opofinance.com, registered 14 February 2022. The earlier domain opoforex.com, registered 17 February 2021, now redirects to it.
- Licences: a Seychelles FSA Securities Dealer licence (Opo Group Ltd, SD124 according to the broker); FSCA FSP 54594 for intermediary services in derivatives only (OPO FINANCE (PTY) LTD); ASIC AFSL 402043 for general advice only (OPO FINANCE PTY LTD). The St. Vincent company holds no licence.
- Not a licence: membership of the Financial Commission since 7 June 2021. This is a private dispute body.
- Offers: forex and CFDs on MT4, MT5, cTrader, TradingView and its OpoTrade app, plus copy trading, leverage up to 1:500 and a deposit-based prop challenge run with its partner FORFX.
- Not accepted: Turkey, USA, Japan, Canada and North Korea, according to its own list.
- Age claim: the site gives no founding year. Records show it has been active since February 2021.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Authority of Seychelles (FSA)
Financial Sector Conduct Authority (FSCA), South Africa
Australian Securities and Investments Commission (ASIC)
Saint Vincent and the Grenadines (Limited Liability Company registration 866LLC2021)
The Financial Commission
Why we reached this verdict
How the evidence adds up.
Opofinance passes the identity tests. Its licences belong to it, and it is not a clone. The risk comes from three things: which company holds client money, how the site describes its licences, and how it treats traders who make a profit.
- Clients contract with the unlicensed company. The client agreement names Opo Group LLC of St. Vincent and the Grenadines and calls its company number 866LLC2021 a 'License number'. The SVG Financial Services Authority says it issues no licences for forex trading or brokerage, and it does not license LLCs that run that business.
- The real licences are narrow. The Seychelles FSA lists Opo Group Ltd as a Securities Dealer. That is an offshore licence with no compensation scheme. FSCA licence 54594 has been held by the South African company since 19 May 2025 and covers only intermediary services in derivatives. We read ASIC licence 402043 in ASIC's own published licensee data. It covers general advice only, and it came with a 1991 company that was renamed from Harvard Markets Pty Ltd in May 2024.
- The site overstates them. The regulation page lists the Financial Commission as a regulator and puts the ASIC licence under the Seychelles company. Its FSCA button opens ASIC's search page, so the FSCA link we give is the FSCA's own search. In January 2023 the site said clients' funds were insured by the Financial Commission. The Financial Commission is a dispute body, not an insurer.
- Complaints follow one pattern. On Trustpilot, Google Play and BrokersView, clients say profits or bonuses were cancelled after the broker flagged scalping, arbitrage or bonus use. Others say introducing-broker (IB) or prop payouts were blocked. The broker's own replies confirm the deductions and say deposits were returned. The complaints meet three of our four pattern tests: the same failure, more than one platform, and specific details. They are spread from 2023 to 2026 rather than clustered, and nobody reports being asked for a fee to release funds.
- It markets outside its licences. The Farsi site is titled as a forex broker for Iranians, and there are also German, Spanish, Portuguese and Japanese versions. None of the group's licences comes from a regulator in those markets.
- No regulator warning. IOSCO's I-SCAN shows no alert for Opofinance, Opoforex, Opo Group or the Australian company's former names.
- History. About five and a half years. opoforex.com was registered on 17 February 2021, and the Financial Commission membership dates from 7 June 2021. St. Vincent's company registry offers no public search, so the contracting company itself could not be dated. That makes five and a half years an upper bound.
- How we got 54%. Regulation scored 7, identity 5 and withdrawals 6 (each counted twice). Reputation scored 5, website claims 6 and history 2. That gives a weighted mean of 5.4 out of 10. No hard-evidence floor applies: there is no warning-list entry, no borrowed licence and no advance-fee report.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Seychelles FSA register lists Opo Group Ltd as a Securities Dealer, with website opofinance.com, alternate website opoforex.com, email support@opofinance.com, phone +248 4374099 and address CT House, Office 9D, Providence, Mahe. Name, domain and contact details all match the broker, so the licence belongs to this business. The entry does not show the licence number (SD124 according to the broker) or its dates.
Hard proofSeychelles FSA registerE2The FSCA register shows FSP 54594, OPO FINANCE (PTY) LTD (registration 2024/235157/07), status Authorized, authorised on 19 May 2025, at 3rd Floor, 34 Whiteley Road, Melrose Arch, which matches the site. It is approved only for Category I intermediary services in derivative instruments, with no permission to give advice.
StrongFSCA FSP registerE3ASIC's published licensee data shows AFSL 402043 held by OPO FINANCE PTY LTD (ABN 87 050 569 250) of Cottesloe WA since 21 April 2011. Its only condition allows general financial product advice on derivatives, foreign exchange contracts and securities to retail and wholesale clients. It does not allow the company to deal in or issue CFDs.
E4ABN Lookup shows the Australian licence holder was first registered in 1991. It was called Internetworking Pty Ltd until 2017, Oracle Markets Pty Ltd until April 2022 and Harvard Markets Pty Ltd until May 2024, when it became OPO FINANCE PTY LTD. Its main business location moved from NSW to WA in July 2025. The ASIC licence is about a decade older than the Opo brand.
E5The client agreement is between the client and Opo Group LLC. It says OPOFINANCE is a business brand of Opo Group LLC under 'License number 866LLC2021', and it is governed by St. Vincent law. The site footer says the company is 'authorized under the Provision of Investment Services, Limited Liability Company act chapter 151'. In fact 866LLC2021 is a company registration number, not a financial licence.
E6In a public notice dated 2 February 2026, the SVG Financial Services Authority states that it does not issue licences for forex trading or brokerage, and does not regulate or license business companies or LLCs in that business. The notice is about another firm and does not name Opofinance, but it shows that 866LLC2021 cannot be an SVG forex licence.
ModerateSVG FSA public noticeE7The broker's regulation page says three regulatory bodies oversee its operations but lists four, including the Financial Commission, which is not a regulator. It shows the ASIC licence under 'OPO Group LTD', although the licence holder is OPO FINANCE PTY LTD. Its FSCA 'Learn More' button opens ASIC's search page instead of the FSCA register. The footer also says clients signed up under OPO FINANCE PTY LTD get trading access, although that company's licence covers general advice only.
ModerateOpofinance regulation pageE8The Financial Commission's member page shows Opofinance as an active member since 7 June 2021, with a membership certificate issued to Opo Group LLC and a compensation fund of up to EUR 20,000 per client. Clients therefore have a free outside complaint route, but the Financial Commission is a private body, not a regulator.
ModerateFinancial Commission member pageE9An archived copy of opofinance.com from 27 January 2023 says 'Opofinance is regulated by FSA & our clients' funds are insured by the Financial Commission' and offers leverage up to 1:2000. Financial Commission membership is not deposit insurance, yet the current site still says the Financial Commission provides insurance of up to 20,000 euros per case.
E10RDAP shows opoforex.com was registered on 17 February 2021 and opofinance.com on 14 February 2022, both through GoDaddy with the same nameservers. opoforex.com now redirects to opofinance.com, and both domains are listed on the Seychelles FSA register. That is about five and a half years of continuous history, and the site claims no earlier founding date.
ModerateRDAP (Verisign registry)E11Archived copies show that from 2016 to 2018 opoforex.com was used by an unrelated Indonesian introducing site for InstaForex, before the domain lapsed and was registered again in February 2021. The content does not continue across the two periods, so nothing from the earlier site is attributed to Opofinance.
E12Trustpilot shows 541 reviews and a TrustScore of 4.8 (88% five-star, 2% one-star, 121 reviews in the last 12 months), and the company invites reviews. A large block of five-star reviews was published within the same few minutes on 6 March 2026, mostly by one-review accounts, with experience dates going back to 2024. Some read like marketing copy. We give the high average little weight.
ModerateTrustpilotE13Trustpilot one- and two-star reviews describe money that did not come back. One client's profits were deducted and the account blocked after scalping (June 2025); the broker's reply confirms the profits were deducted, withdrawals were disabled for 48 hours and the deposit was returned. Two no-deposit bonus withdrawals were left pending (December 2024 and February 2025), with the broker citing bonus terms. Prop-challenge profit withdrawals were rejected under an IP rule (2025), and an introducing broker could not move USD 81 from wallet 286581 and got no reply (September 2026).
StrongTrustpilotE14The client agreement lets Opo Group LLC take back any profits it judges, at its sole discretion, to have been inappropriately gained. It can also cancel transactions and profits if it suspects bonus or swap arbitrage, and restrict clients it labels high-risk for latency arbitrage or toxic flow. These clauses match the complaint pattern.
ModerateOpofinance client agreementE15Google Play lists the OpoFinance app by developer OPO GROUP LTD (support@opofinance.com, Seychelles address), with more than 50,000 downloads and 4.4 stars from 393 reviews. The most-liked negative review (30 December 2024) reports a bonus withdrawal pending for seven days in the same words as a Trustpilot review, so we count the two as one. The developer's phone number is Turkish (+90), although the site says it does not accept clients from Turkey.
ModerateGoogle PlayE16A BrokersView complaint from October 2023 says the client's orders were deleted, USD 2,500 was lost and the remaining balance could not be withdrawn, and claims USD 5,000. The claimant had not supplied account records, and the case was still marked as processing.
WeakBrokersViewE17IOSCO's I-SCAN alert network returns no warnings for 'opofinance', 'opoforex', 'opo group', 'oracle markets' or 'harvard markets'.
ModerateIOSCO I-SCANE18A search of the FCA register for 'opofinance' returns no firm.
WeakFCA registerE19UK Companies House shows that OPO GROUP LIMITED (12367317), incorporated on 17 December 2019 at Eagle House, 108-110 Jermyn Street, London, was dissolved on 1 February 2022. The broker's current site does not name it, and it is not confirmed that it was part of this business.
E20FinTelegram, a private compliance blog, gave Opofinance a 'Red' compliance rating in February 2023. It reported that the people in control were unknown, that the LinkedIn page then listed Tehran and Hong Kong as headquarters, and that payments went through crypto and processors such as Perfect Money, FasaPay and Advcash. It also said the Financial Commission told it the EUR 20,000 figure does not protect deposits. These are the blog's findings, not a regulator's.
E21The Farsi version of opofinance.com is titled as a forex broker for Iranians, and the site also has Arabic, German, Spanish, Portuguese and Japanese versions. Its excluded-country list covers only Turkey, USA, Japan, Canada and North Korea. None of the group's licences comes from a regulator in Iran or the EU.
ModerateOpofinance Farsi siteE22The prop page offers an Opofinance and FORFX Live Challenge that requires real deposits of USD 1,000 to 10,000 into live MT5 accounts. So the prop product is a trading account that takes deposits, not a fee-only evaluation, and the complaints about prop payouts relate to it.
The other side
The strongest case in this broker’s favour.
There is a fair case that Opofinance is a working offshore broker rather than a scam.
- Three regulators' records confirm its licences. The Seychelles FSA entry lists opofinance.com, opoforex.com and the same email, phone and address the site uses.
- The FSCA licence is new (May 2025) and comes from a recognised onshore regulator.
- It has been a Financial Commission member since June 2021. That gives clients a free outside complaint route and a fund for rulings a member does not pay.
- No regulator on IOSCO's alert network has warned about it, and we found no notice about it from St. Vincent's regulator.
- It answers complaints in public with specific explanations. In the profit disputes it answered, it says deposits were returned in full.
- Splitting clients across Seychelles, St. Vincent, South African and Australian companies is a common structure for offshore groups, and the site discloses all four.
- Its app has more than 50,000 downloads and 4.4 stars on Google Play, and its brand and domains have been continuous since 2021.
What would change this
What we would need to see to revise the verdict.
Facts about licences and conduct would move this rating. Reviews would not.
- Lower risk: client agreements moved to the FSA-licensed Seychelles company, or an onshore dealing licence (for example an FSCA over-the-counter derivatives provider licence) covering retail accounts.
- Lower risk: the site stops calling 866LLC2021 a licence, labels the ASIC licence as advice-only, and names its owners and directors.
- Lower risk: a clear published policy on profit cancellations with a way to appeal, and fewer complaints of that kind.
- Higher risk: a regulator warning naming opofinance.com or an Opo Group company, or a register showing a licence suspended or withdrawn.
- Higher risk: credible reports of deposits being withheld (not just profits or bonuses), or any demand for a fee or tax to release funds.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Seychelles FSA register: Opo Group Ltd
Confirms the Securities Dealer licence holder and lists opofinance.com as its website
FSCA register: FSP 54594
Shows OPO FINANCE (PTY) LTD as authorised; open Details to see it is approved for intermediary services only
ASIC licensee data: AFSL 402043
ASIC's own published licensee record, showing the licence covers general advice only
ABN Lookup history: ABN 87 050 569 250
Shows the Australian company's former names: Harvard Markets, Oracle Markets and Internetworking
Financial Commission: Opofinance membership
Membership record since 7 June 2021; the Financial Commission is a dispute body, not a regulator
Opofinance regulation page
The broker's own licence claims
Opofinance client agreement
Names Opo Group LLC of St. Vincent and the Grenadines as the company clients contract with
SVG FSA notice on forex licensing
The SVG regulator states it issues no forex or brokerage licences (the notice is about another firm)
IOSCO I-SCAN search: opofinance
Global search of regulator alerts; no warnings match
Trustpilot: opofinance.com
Client reviews; the one- and two-star reviews contain the withdrawal disputes
Frequently asked questions
Quick answers about this broker’s safety.
Is Opofinance a scam?
We found no evidence that Opofinance is a scam, but we rate it high risk at 54%. It holds real licences in Seychelles, South Africa and Australia, yet its published client agreement is with Opo Group LLC in St. Vincent and the Grenadines, a company no regulator supervises. Clients also report profits and bonuses being cancelled after the broker flagged their trading.
Is Opofinance a fraud?
We found no evidence of fraud. No regulator warning, enforcement action or fraud-related court record names Opofinance, Opoforex or the Opo Group companies, and IOSCO's global alert search returns no warnings. That does not make it safe: the risks are weak licence coverage and the broker's power to cancel profits at its own discretion.
Is Opofinance regulated?
Partly. Opo Group Ltd holds a Securities Dealer licence from the Seychelles FSA, which is an offshore regulator. OPO FINANCE (PTY) LTD holds FSCA licence 54594 for intermediary services in derivatives, and OPO FINANCE PTY LTD holds ASIC licence 402043 for general advice only. The St. Vincent company named in the client agreement has no financial licence.
Which company will I sign up with?
The client agreement on opofinance.com is with Opo Group LLC, registered in St. Vincent and the Grenadines under number 866LLC2021 and governed by St. Vincent law. The site says clients on cTrader and TradingView are signed up under Opo Group Ltd or OPO FINANCE PTY LTD. Ask in writing which company holds your account before you deposit.
Is 866LLC2021 a licence?
No. It is the registration number of a limited liability company in St. Vincent and the Grenadines. The SVG Financial Services Authority says it does not issue licences for forex trading or brokerage, and it does not license LLCs that run that business.
What is the Seychelles FSA licence worth?
It is a real licence: the FSA register lists Opo Group Ltd as a Securities Dealer with opofinance.com as its website. But Seychelles is an offshore jurisdiction with no investor compensation scheme, so the licence protects you far less than one from the UK, the EU or Australia.
Does the ASIC licence mean Opofinance is regulated in Australia for trading?
No. ASIC's own licensee data shows that AFSL 402043 lets OPO FINANCE PTY LTD give general financial product advice on derivatives, foreign exchange and securities. It does not allow the company to deal in or issue CFDs. The licence dates from 2011 and came with a company that was renamed from Harvard Markets Pty Ltd to Opo Finance Pty Ltd in May 2024.
What does the FSCA licence 54594 cover?
The FSCA register shows FSP 54594, OPO FINANCE (PTY) LTD, authorised on 19 May 2025 for Category I intermediary services in derivative instruments, with no permission to give advice. It covers the South African company, not accounts held with the St. Vincent or Seychelles companies.
Can I withdraw my money from Opofinance?
Many clients say withdrawals work normally. But there is a recurring pattern of complaints: profits cancelled for scalping, latency arbitrage or bonus abuse, no-deposit bonus withdrawals left unpaid, and IB and prop-challenge payouts blocked. In the cases the broker answered in public, it said deposits were returned and only profits were removed, and its terms let it cancel any profits it considers inappropriately gained.
Is my money protected if something goes wrong?
Only to a limited extent. There is no investor compensation scheme for the St. Vincent or Seychelles companies. Financial Commission membership gives you a free complaint route and a fund of up to EUR 20,000 per client for Financial Commission rulings a member does not pay, but it is not deposit insurance.
Who owns Opofinance?
The site names four companies but no owners or directors. The FSCA register lists one key individual for the South African company. A compliance blog reported in 2023 that it could not identify who controls the group.
How long has Opofinance been operating?
Since early 2021. It started as Opoforex: opoforex.com was registered on 17 February 2021, and the broker joined the Financial Commission on 7 June 2021. It then moved to opofinance.com, registered on 14 February 2022. The St. Vincent company's own incorporation date is not available on a public registry.
Is Opofinance a clone of another broker?
No. The Seychelles FSA register lists opofinance.com, opoforex.com, support@opofinance.com and the same Seychelles address and phone number the site uses, so the licence belongs to this business. We found no sign that it uses another firm's licence number or identity.
What is the Financial Commission?
A private, independent body that settles disputes with forex brokers. It is not a government regulator. Opofinance has been a member since 7 June 2021, so its clients can file complaints there free of charge.
What should I check before depositing with Opofinance?
Confirm which company holds your account and read that company's terms, especially the clauses on abusive trading, bonuses and profit cancellation. Start with a small deposit, test a withdrawal, avoid no-deposit bonuses and keep records of every transaction.
What should I do if Opofinance refuses my withdrawal?
Complain in writing to support@opofinance.com and keep copies, then file a free complaint with the Financial Commission. Clients of the Seychelles company can also complain to the Seychelles FSA, and clients of the South African company to South Africa's FAIS Ombud. Never pay anyone a fee to release your funds.
What we recommend
The practical takeaway from everything above.
If you are thinking about using Opofinance, treat it as a high-risk offshore broker.
- Before you deposit, ask in writing which company will hold your account. The published client agreement is with Opo Group LLC in St. Vincent, which no regulator supervises.
- Do not rely on the ASIC or FSCA names. ASIC licence 402043 covers advice only, and FSCA licence 54594 is an intermediary licence held by the South African company.
- Read the clauses on trading abuse and bonuses: the company can cancel profits at its own discretion. Avoid no-deposit bonuses.
- Withdraw profits regularly, keep statements and screenshots, and withdraw to the same payment method you deposited with.
- If a withdrawal is refused, complain in writing and then file a free complaint with the Financial Commission. Clients of the Seychelles company can also complain to the Seychelles FSA, and clients of the South African company to South Africa's FAIS Ombud.
- Never pay a fee, tax or unlock charge to anyone who promises to release your funds, and ignore recovery services that want money up front.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 24, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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