OvillaTech Review: Scam or Legit Trading App?

Welcome to our OvillaTech Review, where we bring you the results of our investigations into ovillatech.com.

While ovillatech.com is a site that appears to not be getting any significant traffic, we did find a complaint about them at the Better Business Bureau (BBB) which was posted on December 24, 2022.

The complainer, who is from Holden, Massachusetts, United States, reports being scammed out of $1,100 by OvillaTech. He writes:

Something about the interactions with support have concerned me. I was forced into giving money in a relationship that had abusive qualities. I am attempting to get my portion of the money back, and they are not taking my information to verify my identity, I have to provide the other persons information (I did not know that they placed them self’s as a beneficiary).

They refuse to give a phone number for someone to talk to. Also they are giving me relationships advice to fix things with this person, I noted as an abusive partner, telling me to mend things with this person. I have really weird feelings that a business told me to get back with an abusive partner.

He mentions the following email address support@ovillatech.com as well as the URL: trade.ovillatech.com/auth/login, and claims Ovilla Tech is a “Fake Crypto Website.”

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So is OvillaTech really a SCAM?

OvillaTech Review

OvillaTech.com was registered on September 8, 2022 for one year through the NameCheap, Inc. registrar. It’s also hosted by NameCheap.

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    Even though the website is more than 4 months old, their Semrush Authority Score is still 0% and they have no backlinks.

    Ovillatech.com is a website that claims to offer a trading app called NewTrade, which allows users to trade on various markets with leading trading platforms.

    The app includes features such as accurate market data, alerts, conversions, and tools.

    The website also offers a range of trading products including stocks, listed options, and futures, as well as cash and leveraged products.

    The site claims to offer low costs, fast execution, and 24/7 support.

    They also mention they have received multiple awards such as best mobile trading app and best forex ECN broker.

    However, no awards are displayed and we could not find any mention of them on other websites.

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    The site also offers investment advisory, wealth management and smart portfolio services.

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    They claim to have more than 23,000 traders and a trading volume of $76+ billion per month.

    They keep on asserting that Ovillatech is a company that has been in business for over 30 years and focuses on empowering clients by helping them take control of their financial lives.

    Yet, as we’ve seen, ovillatech.com is a desolate site which barely receives any traffic and they have only been active since 2022, according to the Whois records.

    They have a philosophy of clarity of thought and self-control when it comes to trading.

    The CEO, Cynthia Dixon, has a background in building companies, including founding Fusion Systems in Shanghai and working at Blockchain.info and OKCoin.

    We could not find a mention of “Cynthia Dixon” on fusionsystems.group, blockchain.info, or okcoin.com.

    The company culture is focused on thinking big, taking smart risks, and doing things that have never been done before.

    Their leadership team includes experienced entrepreneurs and professionals in the industry.

    Ovillatech allegedly offers trading instruments and covers clients in over 200 countries and territories, providing access to 150 global markets from a single unified platform.

    They are constantly updating their roadmap for transparency and to get customer feedback.

    They also help customers in terms of engaging investors so that their companies can grow.

    For such a successful company, we find it surprising that their website is so dysfunctional with multiple links not working.

    Nor do they provide any verifiable information regarding their company such as a company name, LinkedIn profiles, or even an email address.

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    They provide the obviously fake email address: halo@company.com.

    Their address is Satrio Tower 16th, Jl. Dr Satrio Kuningan, Jakarta, which is a corporate office building housing many companies, but none of them are called Ovilla Tech, according to Google Maps.

    And while their address is in Indonesia (where the area code is +62), Ovilla Tech’s phone number is the US Toll Free number: (888) 234-5686, which as we shall see is used by many scam sites.

    Links to a range of resources such as how-to guides and tutorials are provided, but none of them work.

    They claim to be listed on the London Stock Exchange (LSE) and have regulators in every jurisdiction where they operate, supervised by the UK’s Financial Conduct Authority (FCA), however that is another blatant lie.

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    OvillaTech Review: Screenshot of Homepage

    OvillaTech Scam Reviews

    We could find no OvillaTech reviews on Google, except for a couple of automatic generated reviews with no reports by real users.

    Recall the report we opened this review with, according to which a person from Holden, Massachusetts was scammed out of $1,100 by OvillaTech. They had concerns about their interactions with support and felt they were forced into giving money in an abusive relationship.

    The person is trying to get their money back, but OvillaTech is not cooperating by verifying their identity and refusing to provide a phone number for someone to talk to. Additionally, OvillaTech is giving the person advice to mend things with an abusive partner which the person finds strange and disturbing.

    A rather strange report obviously, so besides the obvious red flags present at OvillaTech.com, what other proof do we have that they are scamming people?

    Is OvillaTech Legit?

    Based on red flags such as multiple fake claims, false email address, and dysfunctional site, we do not believe they are legit. The only question is if they are a full blown scam, or just a really bad operation.

    Remember that while this company’s address was in Indonesia, their phone number was a toll free US number: (888) 234-5686. We tried searching Google for this number and discovered that multiple sites are using it, such as:

    • greatinvest.net
    • zetapal.com (defunct)
    • traderhubfx.com
    • escrowxchange.com
    • bluewolfmarkets.com (defunct)
    • binary4traders.com
    • vilisya.id (defunct)
    • doubledrill.link (defunct)
    • doubledrill.net (defunct)
    • fxopel.com (defunct)
    • bitcrypto24.com (defunct)
    • ascofx.com
    • gainrealmoney.com
    • fxperfectrade.com
    • munnycloud.com
    • onecryp.to
    • gaintrade.net (defunct)
    • gainpips.net
    • scalpingworld.com
    • linggafx.com
    • goldjasper.com
    • phronesisoptions.com

    And this is a partial list!

    Many of these websites even claim to have the same address at the Satrio Tower in Jakarta, Indonesia.

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    Most of them look alike and share similar features, such as menu items, dysfunctional links, favicons, and email addresses (e.g., hello@company.com, halo@company.com, and business@company.com).

    It seems we have found another network of scam websites created by the same fraudulent individual or group.

    So even if there are no Ovilla Tech reviews, perhaps some of their other websites do have reviews and can shed light on the way these organization operates in general.

    And indeed, we were able to find reviews. For example, regarding Double Drill, a website which was used to be found at doubledrill.link, was registered through NameCheap on June 24, 2022 for one year, and is already defunct.

    We found the following comment about them from December 12 at WikiFX:

    DOUBLE DRILL is a bad platform. It scammed me out of $10,000 and is now not responding to my messages and the website is down! When can I get my money back?

    There’s even a UK FCA (Financial Conduct Authority) warning about GreatInvest.net being a “clone firm,” meaning they are using the details of an authorized firm to trick people into thinking it is a genuine, authorized firm.

    According to the warning, GreatInvest is not authorized or registered by the FCA and has been targeting people in the UK. The FCA advises people to be wary of unsolicited contact and to only deal with financial firms that are authorized by the FCA.

    OvillaTech Review Conclusion

    In summary, OvillaTech is a part of a large network of online trading scam sites, possibly operated from Indonesia.

    We recommend not to do any business with them or any of the associated sites mentioned above.

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    If you have been scammed by Ovilla Tech or if you have any information about them, please let us know by commenting below this OvillaTech review.

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