Oriental Wealth Markets Limited (OWM/OWM fx) was established in 2017 and is a foreign exchange dealer (license number 40299) regulated by the Vanuatu Financial Services Commission (vfsc). The company is headquartered in Port Vila, the capital of Vanuatu, with offices in Hong Kong, Jakarta, Kuala Lumpur. In addition, OWM is an over-the-counter derivatives issuer that trades on a principal-to-principal basis. Its issuance is also not traded through a stock exchange.
Market Instruments
OWM offers investors a range of financial instruments including Forex, Commodities, Futures CFDs, Equity CFDs and Cryptocurrency CFDs.
Accounts and Leverage
OWM has two account types for investors to choose from, Standard Account (minimum deposit of $100) and ECN Account (minimum deposit of $3000). For Forex trading purposes, the maximum leverage for both accounts is 1:200.
Currency Pairs and Spreads
Users can trade 32 currency pairs OWM trades 10,000 currency units at a time. Spreads vary by account type, but OWM only gives a rough description of gold spreads and does not disclose forex spreads. Spreads are as low as 0.45 for Standard accounts and 0.1 for ECN accounts.
Overnight Interest
According to international banking practice, foreign exchange transactions are settled after 2 trading days. Overnight Interest is settled on the settlement day. According to the official display, OWM charges a swap fee every working day from Monday to Friday, and a triple swap fee on Wednesday.
Trading platform available
OWM offers its clients access to the world of financial marekt through the metatrader 4 (mt4) platform. Mt4 is widely regarded as the most popular online Forex and CFD trading platform for traders of all experience levels. mt4 is available as a web platform on any browser, as well as a desktop download and mobile application.
Trading Hours
Clients can use the client portal and website at any time, but trading hours depend on the specific market. OWM lists the opening hours of each asset in its product description, for example Forex can be traded 24 hours a day from Monday to Friday.
Restricted Areas
OWM did not specify which countries it accepts traders from, but the company noted that it does not provide services to citizens/residents of the United States, Hong Kong (China), Japan and the Islamic Republic of Iran.
