Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGreece's regulator warns the entity is not authorised and names the domain; the sole licence, Comoros T2023282, shows an end date of 24 May 2025. Credit that the licence was genuine and in the firm's own name.
Identity & transparency
7/10 · HighAddresses, phone and registration number are published, but ownership and management are entirely undisclosed and the site never says which entity, Greek or Comoran, holds client funds.
Withdrawals & conduct
3/10 · LowOne fund-integrity allegation exists on Trustpilot but it promotes a named recovery service and fails authentication; no verified pattern across any platform.
Reputation
7/10 · HighA regulator warning naming the exact domain, against an almost non-existent user footprint: one review in total and nothing on trading forums.
Website claims
9/10 · CriticalAdvertises an expired licence, claims regulation without naming a regulator, claims a 2021 start against a 2023 domain, and headlines 94 percent return on investment.
Operational history
6/10 · HighVerifiable only from the domain registration of February 2023, roughly three and a half years, with the advertised start date two years earlier and the operating company's incorporation date not established.
Who they are
A quick desk file on the company behind the brand.
- Brand: Oversea Capital Markets, trading at overseatrades.com
- Legal entity: the site trades as Oversea Capital Markets Limited. The Hellenic Capital Market Commission identifies the operator as Oversea Capital Markets Limited Single-Member Private Company (IKE), a Greek private company
- Registered: 27 Georgikis Scholis Avenue, 57001 Thessaloniki, Greece, with an operating address at 65 Georgikis Scholis Avenue, 57001 Pylaia, Thessaloniki. The contact page adds Bonovo Road, Fomboni, Island of Moheli, Comoros Union
- Registration number shown: 168551506000, a Greek commercial-registry number. A company number confers no authorisation to handle client money
- Only licence: Mwali International Services Authority (Comoros) licence T2023282, issued 24 May 2023, documented end date 24 May 2025
- Offers: leveraged trading on currencies, indices, metals, oil and crypto. Three tiers from 50 USD, 100 USD and 500 USD, leverage advertised at 1:400, platforms described only as 4 and 5
- Not accepted: clients from Turkey, per the footer. The site's own market-price widgets are nonetheless served in Turkish
- Age claim: started online trading in 2021. Earliest verifiable trace is the domain registration of 1 February 2023
- Contact: +30 2311218064 and info@overseatrades.com. No ownership, directors or named staff are disclosed anywhere on the site, and it publishes no social media profiles
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Mwali International Services Authority
Greek General Commercial Registry (GEMI)
Why we reached this verdict
How the evidence adds up.
One regulator finding and five supporting strands point the same way. The verdict is likely scam rather than confirmed scam for a reason we state plainly below.
- The Greek regulator's warning is the decisive item. On 26 August 2026 the Hellenic Capital Market Commission published an investor warning for Oversea Capital Markets Limited Single-Member Private Company (IKE). Greek law prohibits providing investment services without authorisation from the Commission or an equivalent authority in another EU member state, and the Commission states this operation holds none and may not hold client money. The warning document links overseatrades.com.
- The sole licence on display has run out. The Mwali registrar's own verification record for Oversea Capital Markets Limited gives licence T2023282, company number HY00523404, issue date 24 May 2023 and end date 24 May 2025. The homepage footer still presents that number as the firm's licence. In fairness, the registrar's list still carries an Active flag beside the entry, so its record contradicts itself. The firm publishes nothing showing a renewal.
- It claims regulation without naming a regulator. The About page says the company is regulated by financial regulators and operates under strict compliance standards on the use of client funds. The authority with jurisdiction over an operation based in Thessaloniki says the opposite.
- A Comoros registration cannot cover business run from Greece. The registered office, the operating office, the telephone number and the commercial-registry number are all Greek. A Mwali licence carries no permission to solicit investors in the European Union, which is precisely what the Greek warning addresses.
- The advertised history is two years longer than anything verifiable. Trading since 2021 against a domain created on 1 February 2023, a licence issued in May 2023, a copyright line reading 2023 and no predecessor domain carrying earlier archive history.
- The site contradicts itself on price. The homepage calls its spreads among the most cost-effective in the industry. Its own packages page lists minimum spreads of 9, 7 and 6 pips, which is far above the market for the instruments advertised. The same page block still names a different brand, indyinvest, and the headline figures of 94 percent return on investment and 100 percent completely secure are presentations no genuine broker can stand behind.
Why not a stronger verdict. We found no verified pattern of clients losing money. Trustpilot holds a single review for this domain. It describes a withdrawal attempt followed by an account freeze, but it comes from an account with one lifetime review and it promotes a named fund-recovery outfit, which is the signature of a planted post rather than a victim account, so we did not count it. The scorecard reflects that: the complaints dimension scores 3, not 9. The arithmetic runs (9x2 + 7x2 + 3 + 7 + 9 + 6) / 8 = 7.13, or 71 percent, and the single regulator warning sets a floor of 70. We hold evidence of unauthorised business and of false statements about licensing and history. We do not hold proof that deposits were taken and withheld, and we are not asserting it.
Note on operating history: the 3.7-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Hellenic Capital Market Commission, the Greek financial regulator, lists an investor warning dated 26 August 2026 for OVERSEA CAPITAL MARKETS LIMITED SINGLE-MEMBER PRIVATE COMPANY (IKE) on its own warnings page. The regulator states the entity is not authorised to provide investment services in financial instruments or to hold investor funds.
E2The warning document published by the Greek regulator carries overseatrades.com as an embedded link, tying the notice to this exact website and not merely to a similar company name. The file was produced on 31 August 2026.
E3The Mwali International Services Authority verification record for Oversea Capital Markets Limited gives company number HY00523404, licence number T2023282, issue date 24 May 2023 and licence end date 24 May 2025, with the licensed website recorded as overseatrades.com. The certificate itself is dated 14 June 2024 and shows no renewal.
E4The live homepage footer still displays License No: T2023282 beside Registered NO: 168551506000 and a Thessaloniki registered office, presenting the lapsed Comoros licence as the firm's current credential.
E5The About page states the company is regulated by financial regulators and operates subject to strict compliance standards regarding the use of client funds, without naming a single authority. The regulator with jurisdiction over its Greek base states it is not authorised.
E6The domain overseatrades.com was created on 1 February 2023 through GoDaddy, with Cloudflare nameservers and an expiry of 1 February 2027. The About page claims the firm started online trading in 2021, two years before the domain existed.
E7The registered office, the operating office at 65 Georgikis Scholis Avenue in Pylaia, the telephone number on a Thessaloniki prefix and the commercial-registry number are all Greek, while the only licence is Comoran. The contact page adds a Comoros address at Bonovo Road, Fomboni, Island of Moheli. A Mwali licence carries no permission to solicit investors in the European Union.
E8The packages page lists minimum spreads of 9 pips on the entry account, 7 pips on Gold and 6 pips on Premium, with minimum deposits of 50, 100 and 500 US dollars. The homepage simultaneously claims the firm's spreads are rated among the most cost-effective in the industry. Both cannot be true, and spreads at those levels are far above the market.
E9The homepage services block still reads: At indyinvest, we are proud to provide high quality service to our customers. The site therefore runs on unedited copy belonging to a different brand. The homepage also advertises headline figures of 94 percent Return On Investment, 100 percent Completely Secure and more than 25 certificates of success, none of which is substantiated anywhere.
ModerateOversea Capital Markets homepageE10The archived homepage of 25 January 2024 carries the same unedited indyinvest text, the same 2023 copyright line and the same statement that the company does not accept clients from Turkey. The site has carried this brand and this copy since its earliest archived capture, and shows no predecessor brand on the domain.
E11Trustpilot holds one review in total for overseatrades.com, rated one star, on an unclaimed profile with no history of the company inviting reviews. The review describes an attempted withdrawal followed by the account being frozen, but it comes from an account with a single lifetime review and it promotes a named fund-recovery service, so it fails the authenticity checks and we did not count it toward the complaints score.
E12The Mwali authorised brokerage register lists Oversea Capital Markets Limited as entry 49 against licence T2023282, issued 24 May 2023, and records overseatrades.com as the licensed website. The name and the website both match the operation under review, so the licence is genuinely the firm's own and this is not a clone of another company.
The other side
The strongest case in this broker’s favour.
The strongest case that can honestly be made for this firm, and it is not nothing:
- The licence is genuinely its own. This is not a clone. The Mwali register lists Oversea Capital Markets Limited against licence T2023282 and records overseatrades.com as the licensed website. The firm is not wearing another company's credentials, which is the single most common pattern among brokers of this profile and is absent here.
- The registrar still shows the entry as Active. Its verification certificate gives an end date of 24 May 2025, but the brokerage list has not been changed to lapsed. If a renewal exists and the certificate was simply never reissued, the expiry point weakens considerably.
- The identity details are real and checkable. A Thessaloniki street address, a working Thessaloniki landline prefix, a Greek commercial-registry number and a Comoros address are all published openly. Operations built purely to disappear usually publish far less.
- There is no verified complaint pattern. Across Trustpilot, Reddit and ForexPeaceArmy we found no credible first-person account of money not coming back. The one negative review fails basic authenticity checks and we discounted it rather than counting it against the firm. Pages headed as reviews of this domain are published by fund-recovery businesses that profit from finding victims, and they are not independent evidence.
- Being licensed only offshore is not by itself fraud. Hundreds of genuine brokers hold nothing stronger. The problem here is the combination of an expired offshore licence, a claim of regulation that the competent authority contradicts, and an EU base.
What would change this
What we would need to see to revise the verdict.
Specific, checkable things that would move this verdict:
- Towards clearing it: the Hellenic Capital Market Commission withdrawing the 26 August 2026 warning, or authorising the entity and listing it among supervised investment firms, would remove the decisive finding.
- A current Mwali verification certificate showing licence T2023282 renewed past 24 May 2025 would retire the expired-licence point, though it would not answer the Greek regulator.
- The firm naming on its own site which authority regulates it, linking to that authority's register, and stating which entity holds client funds, would resolve the regulatory-claim contradiction.
- Evidence of operation before 2023 under a named predecessor domain, with archive history to match, would support the 2021 claim.
- Towards a harder verdict: three or more detailed, independent reports across at least two platforms describing the same withdrawal failure, with amounts, dates or ticket references, would take this to confirmed.
- Any credible, specific account of being asked for an extra payment, a tax or a fee before funds are released would be decisive on its own.
- A second regulator naming overseatrades.com, or an enforcement or court action against the Greek entity, would also settle it.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Hellenic Capital Market Commission investor warnings
The Greek regulator's warning page, where the 26 August 2026 notice for this firm is listed.
The warning document for this firm
The notice itself, naming the entity and linking overseatrades.com.
Mwali licence verification for T2023282
The issuer's own certificate, showing the licence end date of 24 May 2025.
Mwali authorised brokerage list
The full register the licence sits on. The firm is entry 49.
Greek warnings page (Greek language)
The same regulator warnings in Greek, for readers in Greece.
Frequently asked questions
Quick answers about this broker’s safety.
Is Oversea Capital Markets a scam?
We assess it as a likely scam, at 71 percent risk. The decisive fact is that Greece's financial regulator, the Hellenic Capital Market Commission, warned the public on 26 August 2026 that Oversea Capital Markets Limited Single-Member Private Company (IKE) is not authorised to provide investment services or hold client money, and named overseatrades.com. The only licence the site advertises, Comoros licence T2023282, has a documented end date of 24 May 2025.
Is Oversea Capital Markets a fraud?
We have not established fraud, and no court or regulator has found it. What is on the public record is that the Greek regulator says this operation is not authorised to provide investment services or to hold client money, and that the firm advertises a licence whose term ended in May 2025 while telling visitors it is regulated. We assess the risk of fraud as high, but we are not asserting that deposits were taken and withheld, because we found no verified pattern of that.
Is Oversea Capital Markets regulated?
Not in any way that protects you. Its only trading licence came from the Mwali International Services Authority in the Comoros, and that licence shows an end date of 24 May 2025. The Hellenic Capital Market Commission, the authority for the country the business is run from, states it is not authorised. The number 168551506000 on the site is a company registration, not a licence.
Can I withdraw my money from Oversea Capital Markets?
We cannot promise either way, because there is no reliable body of user reports for this domain. Try to withdraw your full balance now and keep every record. If you are asked to pay a fee, a tax or any other charge before a withdrawal is released, do not pay it. That demand has no legitimate counterpart anywhere in this industry.
Is my money safe with Oversea Capital Markets?
No. There is no compensation scheme, no deposit protection and no dispute-resolution body standing behind this operation. A Mwali licence provides none of those even when current, and this one is past its documented end date. The Greek regulator has specifically said the firm may not hold client money.
Who owns Oversea Capital Markets?
The site names no owners, directors or staff. It gives a legal entity name, a Greek registered office in Thessaloniki, a commercial-registry number and a Comoros address, but no individuals. The Hellenic Capital Market Commission identifies the operator as a Greek single-member private company, which means it has one shareholder, though that shareholder is not disclosed publicly on the website.
How old is Oversea Capital Markets?
About three and a half years, measured from the only evidence that can be checked. The domain overseatrades.com was created on 1 February 2023, the Comoros licence was issued on 24 May 2023 and the site's copyright line reads 2023. The About page's claim that the firm started online trading in 2021 is two years earlier than anything we could verify, and no predecessor website exists to support it.
What is the Mwali or MISA licence actually worth?
Very little. The Mwali International Services Authority is a registrar on an autonomous island of the Comoros rather than a functioning financial supervisor, and the Central Bank of the Comoros has publicly stated that it has no authority to issue financial licences for the union. It runs no audits, offers no investor compensation and provides no complaints process. In this case the licence is also past its end date of 24 May 2025.
Is Oversea Capital Markets a clone of another company?
No. This is one genuine point in its favour. The Mwali register lists licence T2023282 in the name Oversea Capital Markets Limited and records overseatrades.com as the licensed website, so the firm is not using another company's licence number or identity. The problems here are unauthorised business and false statements about its own licensing, not impersonation.
Why does the site say it does not accept clients from Turkey?
The footer carries that line, yet the market-price widgets built into the homepage are served in Turkish, which suggests the site was assembled for a Turkish-speaking audience. A blanket exclusion of one country is a common way to try to limit legal exposure in the market a site is actually aimed at. Treat it as a signal about where the operation came from, not as a protection for you.
Why are the spreads 9 pips?
That is what the firm's own packages page lists as the minimum on its entry-level account, with 7 and 6 pips on the higher tiers, while the homepage claims its spreads are among the most cost-effective in the industry. Both statements cannot be true. Spreads at that level are many times the normal market cost and would consume a retail account quickly.
What should I do if I already deposited money here?
Request a full withdrawal immediately and save all your records. Report the firm to the Hellenic Capital Market Commission, which is already warning about it, and to the police where you live. Contact your bank or card issuer straight away about recalling the payment, because those windows close fast. Do not engage with anyone who offers to recover your funds for an upfront payment.
What should I check before depositing with any broker?
Three things, in order. Find the licence number and look it up on the regulator's own register, not on the broker's website. Confirm that the register lists the exact website you are using. Confirm the regulator genuinely supervises investment firms in a country with real enforcement, which rules out registrars and company registries dressed up as licences.
What we recommend
The practical takeaway from everything above.
Do not send this firm money, and do not send it identity documents.
- If you are considering a deposit, stop. The regulator responsible for the country this operation is run from has told the public it is not permitted to provide investment services or to hold client money. There is no compensation scheme behind a Mwali licence, and nothing behind an expired one.
- If you already have money there, try to withdraw the full balance now and keep every record: transfer references, account statements, chat and email logs, and the names used by anyone who contacted you.
- Never pay a fee, tax, commission or insurance charge to release a withdrawal. No legitimate broker requires that. It is the clearest marker of an operation that has no intention of paying out.
- Report it where it counts. File a complaint with the Hellenic Capital Market Commission, which is already warning about this operation, and with the police in your own country. If you paid by card or bank transfer, ask your bank about a chargeback or recall immediately, because the time limits are short.
- Ignore anyone who contacts you offering to recover your funds. Recovery approaches follow losses like this as a matter of routine and charge upfront for nothing. One of them is already advertising inside the only review this domain has.
- Before any broker gets your money, check its licence number on the regulator's own register, confirm the register lists the website you are actually using, and confirm the regulator is one that supervises investment firms in a country with real enforcement.
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 1, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.