Ollyn Investment PTE LTD

Key Points

• Fraudulent Operations: Ollyn Investment PTE LTD, operating via ollyninvestment.com, is widely identified as a scam broker falsely claiming to be a legitimate Singapore-based forex/CFD trading platform.

• Misrepresentation: The company uses the name of a legitimate Singaporean entity registered in 2003 but has no connection to it, with its website launched in August 2024.

• Lack of Regulation: It operates without a license from Singapore’s Monetary Authority of Singapore (MAS) or any other regulatory body, rendering its activities illegal.

• Deceptive Practices: The platform employs tactics like hidden fees, fake contact details, and restricted registration to lure and trap investors.

• Client Losses: Numerous customer reports detail significant financial losses, blocked withdrawals, and lack of communication, with some losing thousands of pounds.

Overview

Ollyn Investment PTE LTD presents itself as a forex and CFD broker offering trading services through its website, ollyninvestment.com. It claims to provide access to over 500 assets, leverage up to 1:200, and various account types starting with a £100 minimum deposit. The company asserts it was established in 2003 and is based in Singapore, targeting both English- and Russian-speaking traders. However, investigations reveal it is a recently created entity (August 2024) exploiting the name of an unrelated Singaporean company to appear legitimate. Its operations focus on attracting novice traders with promises of high returns, but it lacks transparency, legal authorization, and genuine brokerage services.

Allegations and Concerns

• Identity Fraud: The broker falsely claims affiliation with a legitimate Singaporean company, Ollyn Investment PTE LTD (registered 2003, ACRA serial 200312835H), which deals in financial advisory services, not brokerage.

• No Regulatory Oversight: It lacks a MAS license or any regulatory approval, operating illegally in all jurisdictions.

• Fake Contact Information: Provided email addresses and phone numbers are non-functional, and there is no online chat or social media presence, preventing client communication.

• Hidden Trading Conditions: Spreads, commissions, and withdrawal fees are undisclosed, with indications the platform profits by ensuring client losses.

• Restricted Access: Registration requires an invitation code, a tactic used by scammers to control access and obscure operations.

• No Demo Account: The absence of a demo account prevents risk-free practice, a red flag for legitimate brokers.

• Data Privacy Risks: The platform requests identity verification documents but does not guarantee confidentiality, posing risks of identity theft.

Customer Feedback

Customer reviews are overwhelmingly negative, with reports of financial losses and deceptive practices:

• Negative Feedback:

  • “I invested over £2,000 and do you think I earned anything? No, nothing!!! Instead, I realized I was in a scam that refuses to not only withdraw my own money, but also refuses to contact me.”

  • “I believed these scammers and invested 1,700 dollars. I made about 320 dollars with the help of an analyst, but the scammers did not let me withdraw a dime and blocked my account for unknown reasons.”

  • “I almost lost $70,000, while they made $165,000 from my trades. Luckily, my bank’s fraud department helped me find [a recovery service], and they got my money and profits back.”

• Positive Feedback: Some sources, likely promotional, claim positive experiences, but these are suspected to be fabricated. For example, a Quora post praises the platform’s “transparency” and “professional support,” but lacks verifiable details and contradicts widespread scam allegations.

Risk Considerations

• Financial Risk: Investors face near-certain loss of funds due to non-transparent trading conditions, blocked withdrawals, and the platform’s dealing desk model, which profits from client failures.

• Reputational Risk: Associating with a scam broker could damage an investor’s credibility, especially if personal data is misused.

• Legal Risk: Engaging with an unlicensed broker may expose clients to legal issues, particularly if funds are linked to illicit activities or if personal data is compromised.

• Operational Risk: The platform’s lack of functional communication channels and closed registration process increases the likelihood of unresolvable disputes.

Business Relations and Associations

• No Known Partnerships: Ollyn Investment PTE LTD does not disclose any legitimate business partnerships or affiliations. Its claim of being a Singapore-based broker is false, as it is unaffiliated with the registered entity.

• Anonymous Team: The company provides no information about its founders, management, or analysts, with the team described as “anonymous” in reviews.

• Potential Links to Other Scams: The use of similar website templates and tactics (e.g., promo codes, fake addresses) suggests possible connections to other fraudulent brokers like Vatna Investment PTE LTD or Amitell Capital PTE LTD, though no direct evidence confirms this.

Legal and Financial Concerns

• No License: The absence of a MAS license or any regulatory certification confirms illegal operations.

• False Registration Claims: The platform misrepresents its connection to a legitimate Singaporean company (ACRA serial 200312835H), which has no brokerage activities.

• No Legal Documents: The website lacks registration or licensing documents, a hallmark of scam brokers.

• Customer Losses: Reports of unwithdrawn funds (e.g., £2,000, $1,700, $70,000) indicate significant financial harm to clients.

• No Bankruptcy Records: As a recently created entity (August 2024), there are no bankruptcy records, but its lack of legal standing suggests it is not a registered business.

Risk Assessment Table

Expert Opinion

Ollyn Investment PTE LTD is a clear example of a fraudulent forex/CFD broker designed to exploit inexperienced traders. Its use of a legitimate company’s name, lack of regulatory oversight, and deceptive practices (e.g., fake contacts, hidden fees, invitation-only registration) confirm its illegitimacy. The absence of a demo account and transparent trading conditions further indicates a focus on client losses rather than genuine brokerage services. Customer reports of significant financial losses and blocked accounts underscore the platform’s predatory nature.

Pros: None. Any claimed benefits (e.g., low deposit, high leverage) are standard scam tactics to lure victims.

Cons:

• Operates illegally without a license.

• Misrepresents its identity and history.

• Employs deceptive tactics to prevent withdrawals and communication.

• Poses significant financial and data privacy risks.

Cautionary Advice: Avoid Ollyn Investment PTE LTD at all costs. Do not register, deposit funds, or share personal information. For forex trading, choose brokers regulated by reputable authorities like MAS, FCA, or ASIC, and verify their credentials through official registries. If you have engaged with this platform, contact your bank immediately to report fraud and seek recovery options.

Key Citations

• Fincapital-reviews.com: Expert review exposing Ollyn Investment PTE LTD as a scam.

• Top-trade.reviews: Detailed analysis of scam tactics and client losses.

• Brokersview.com: Confirms lack of regulation and domain registration in 2024.

• Antiscam-reviews.com: Highlights closed registration and fraudulent model.

• Sitejabber.com: Customer reviews detailing financial losses.

• Recordowl.com: Confirms legitimate Ollyn Investment PTE LTD’s unrelated activities.