Legit and quite expensive: Overton Partners review
The problem with choice of a Forex broker is that most of the companies in this market look pretty much the same, offering almost similar set of services for comparable prices. Even the scammers have something in common, as most of them use one of several patterns, which are working. However, Overton Partners, which is a subject of our review today, is a bit different. Let’s see what exactly is special about the company in case if it pass our anti-scam scanning, of course.
So, the first thing we shall do is to make sure that Overton Partners is not a scammer. Some fraudsters these days are incredibly good in terms of disguise, but there is still a number of features showing us the difference between the reliable broker and a company that only pretends to be such. We have a custom checklist for these cases and if Overton Partners is not a scammer, it will pass this test easily. You can scan the broker in any order you like, but we prefer the one given below. And, if Overton Partners uses scam techniques, we will most likely see them on one of these 5 stages of examination:
- official website (requisites, licenses, contacts)
- terms of work (services and fees and other payments)
- payment methods and conditions
- bonuses, partnership programs
- users’ reviews on the web
5 rules: Overton Partners website review
Rule #1 – registered and regulated broker has nothing to hide. If we are on the broker’s homepage and can’t get the company registration data, its address, contact details etc. in a couple of clicks it can be really bad. It may be the signal that the company does not have any licenses or even that has never been registered anywhere. The good news is that we see nothing extremely bad on this stage – Forex broker Overton Partners is hardly a scammer, as it discloses the key details we are looking for.
Rule #2 – the description of the services must be as simple, detailed and clear as it is possible. We shouldn’t spend more than 5 minutes to understand what exactly we can get from the company and how much does it cost. Unlike most of the scammers, Overton Partners is extremely informative and specific in this regard. All the needed data is available and is easy to find on the website.
Rule #3 – the more methods of payment are supported, the less chances we are about getting scammed by Overton Partners. Or, in other words, the more traditional, well-known methods of payment are supported, the better it is for us. Forget about murky payment systems you have never heard before and/or crypto. Look for good old bank transfers, credit and debit cards and abbreviations like SWIFT. They are boring and quite slow, indeed, but they are also reliable. Both in terms of preliminary checks of potential partners, conducted by banks and established payment systems, and in terms of rolling transactions back if needed.
Rule #4 – guaranteed revenue in trading is nothing but a myth. Trading is rather about “win some, lose some”. Therefore promises like guaranteed revenues, profits or income in any form is most likely nothing but warning sign – “the scammer is right here”. The same applies to extremely generous bonuses and partnership programs where you are expected to get paid for activities not related to trading. The only thing they can guarantee, in fact, is that you are most likely invited to take part in some classic fraud scheme like pyramid. Just keep inviting more friends and wait to get paid for that, trading is not necessary as it is. The good news is Forex broker Overton Partners doesn’t promise to pay us for nothing and recognizes that trading is a risky business, especially if it is about volatile markets and use of leverage.
Rule #5 – you are neither the first, nor the last one examining this particular broker. Go look for Overton Partners reviews on the web. If something is wrong about the company, there were most likely other people who found it out earlier. Try to learn from other people mistakes, not from your own ones. Look through all Overton Partners reviews you can find in order not to miss something important. Minor misunderstandings doesn’t count of course – take into account the personal factor as well, there are different clients and different reasons making them write their reviews.
What Forex broker Overton Partners has to offer
Since Overton Partners has passed our scam detector successfully, we can now focus on the company’s services. There are several distinguishing features not quite usual for most of the Forex brokers:
- availability of other asset classes
- high minimal deposit threshold
- availability of managed accounts
The first thing is the most obvious – Forex is the market with a great liquidity, but there are also high volatility and risks to be hedged. Combining the assets of various classes within the same portfolio is great in terms of diversification. Besides Forex Overton Partners offers operations with stocks, commodities and indices, available through CFDs. There is also detailed description of every asset class with its strong points and specifics, which is quite handy.
The second feature is something not typical for the market, where most of the players trying to attract as many clients as possible. Therefore, minimal deposit of $50-100 or even less would be something much more typical than $5,000 set by Forex broker Overton Partners. On the other hand, there are different clients with different possibilities, needs and resources, so there obviously can be brokers with different market strategies. If it works for Forex broker Overton Partners, than it probably makes sense.
The next feature – managed accounts – is really rare as for Forex market, though Overton Partners with its focus on wealthy client may be right to propose it. Most of the traders on Forex like the process of trading itself, indeed. That is actually one of the things that attract people. When trading on Forex, you decide yourself and take all responsibility for your actions, and the brokerage is rather acting like trading platform provider.
But there can be a dozen of solid reasons why people may trust professionals managing their money instead of trading themselves. Their list may include lack of time, experience, confidence, lack of knowledge of different markets etc. So if there is a possibility to invest this way, it rather serves the development of the market in general.
Conclusion: Is Overton Partners a good fit as Forex broker?
Depends on who is asking this question. As we have found out, Overton Partners doesn’t seem to be a scammer. But it is also not a broker for everyone. Say, if you are a trader with a couple of hundreds looking for low-cost trading possibilities and interested mainly in Forex, you would hardly need these additional options. Or maybe you would like to try a hand at trading various asset classes, but not ready to invest $5,000 or more just to try it.
But in case you operate bigger amounts and you are interested in additional services including these managed accounts, it can become your reliable broker. The same take applies in the case if there are some reasons preventing you from trading yourself, as we supposed earlier. This is the key conclusion of our Overton Partners review.
You can check out the full list of brokers to bypass.