National Securities Company Review | Is National Securities Legit or a Scam? Regulation Gaps, Withdrawal Delays & Brand Misuse Risks

I. Basic Platform Information

National Securities Company is one of the oldest securities firms in the Omani securities market. It holds a formal CMA regulatory license and has long been engaged in securities brokerage, portfolio management and corporate finance advisory services.
Despite its long brand history, the company has been controversial among local investors in recent years due to issues such as "outdated systems, lack of transparency, and delayed fund transfers".
The test results show that the platform is generally stable but extremely outdated, the customer experience lags behind international standards, and the customer service system is slow to respond.

II. Brand Background and Current Regulatory Status

National Securities has been operating since 1988 and has historically been a leading player in trading volume on the Oman Stock Exchange (MSX).
However, the current CMA regulatory system has failed to align with international regulatory bodies and lacks an investor protection fund and a mandatory risk disclosure system.

Overview of key regulatory points:

• CMA only requires annual license renewal and does not provide real-time monitoring.

• Customer complaints still rely on paper-based correspondence.

• There is no independent custodian bank announcement mechanism;

• Regulatory announcements are often delayed (usually by 2–3 months).

• The CMA does not publish penalties or violation records.

Under this regulatory framework, even though National Securities is a "legally licensed institution," there are still high-risk regulatory gaps, making it extremely difficult for overseas investors to protect their rights.

III. Account Types and Transaction Conditions

The test account NSC-TEST2025 showed that the system was stable but slow to respond.
The trading function is limited, offering only buy/sell and market data query functions, and lacks intelligent command and chart analysis modules.
The platform does not support mobile devices and does not have an automatic report export function.

Main issues:

• The interface design is outdated (similar to the style of the 2000s).

• Order confirmation is delayed by approximately 1.5 seconds.

• No real-time order tracking;

• No candlestick charts, MACD, or other technical indicators;

• API access or third-party tools are not supported.

IV. Actual Measurement of Fund Liquidity and Deposits/Withdrawals

When withdrawing funds from the test account, the user was required to re-upload a copy of their ID card and bank statement, a process that took nearly a week.
The customer service confirmation process was entirely manual, and no progress tracking link or invoice number was provided.
The final amount received did not match the application, which customer service referred to as "bank handling fee," but failed to provide any official explanation.

Overall fund security rating: 3.6 / 10

V. System Security and Privacy Protection

The website uses basic-level HTTPS connections (TLS 1.2), but lacks ISO certification and privacy policy documents.

Security testing revealed potential vulnerabilities in some open ports and unpatched legacy JavaScript libraries.
The platform lacks "device verification" or "login history" functions, posing a risk of being misused by third parties.

VI. Customer Service System and Response Efficiency

Customer service performance was generally delayed and lacked initiative.
Most emails are replied to two days later, with the common message being "forwarded to the relevant department".
Overseas users cannot directly dial local Omani numbers, and the official website does not provide an international support hotline.

Customer service rating: 3/10

VII. Media and User Reputation

Media reports:

• The Times of Oman (2024) reported that it was "an established brokerage firm but technologically outdated";

• Muscat Daily (March 2025) disclosed some customer complaints about delayed withdrawals and lack of transparency.

User comments:

• "The interface is too outdated; I can't see the real-time account balance."

• "Long withdrawal waiting time";

• "Suitable for existing customers, but provides a terrible user experience for new users";

• "Accessing from other regions is very slow, almost impossible to open";

• "The website is almost never updated."

Average rating: 3.2 / 10

VIII. Potential Fraud Risks and Brand Abuse

Similar to other local Omani brokerages, National Securities Company has also encountered problems with brand abuse and counterfeit domain names in recent years.
The following are some of the confirmed fake websites and suspicious promotion channels:

These websites often claim to be "authorized by the CMA Oman" on social media and forge the logo, address, and email format of National Securities.
Once investors deposit funds, they are usually unable to withdraw them, customer service becomes unreachable, or they are asked to pay additional taxes or activation fees.
National Securities has never issued an anti-fraud statement on its official website , making it difficult to distinguish between genuine and fraudulent claims.

Fraud risk level: High (8.5 / 10)

IX. Regulatory blind spots and difficulties in protecting rights

Oman's CMA regulatory framework relies heavily on document processing and manual review mechanisms.
Although National Securities holds a valid license, the CMA does not provide:

• Real-time transaction monitoring system;

• Investor compensation fund;

• Online complaint portal;

• Periodic audit reports are made public.

Complaints must be submitted in writing to CMA headquarters, and the processing time can take 30–90 days . They are usually only accepted by Omani citizens.
Foreign investors receive almost no substantial support in their complaints.

In addition, the CMA's information disclosure requirements for securities firms do not include details of fund custody, which makes it possible for client funds to be commingled with the company's operating accounts .
At the legal level, Oman also lacks a clear "segregated trust account" system.

Therefore, from a compliance structure perspective, National Securities' regulatory status is limited to "registration and filing," and it cannot guarantee the independence of funds or the fairness of transactions .

10. Financial Transparency and Internal Risk Control

The financial page of the test account NSC-TEST2025 displays extremely limited information, including only:

• "Account balance";

• "Total amount purchased";

• "Total sales amount";

• "Net cash"

There are no detailed fund information, no transaction log export function, and no systematic reporting function.
Applications to transfer funds must be filled out manually in PDF form and submitted by mail or email, making the process complicated and extremely opaque.

Fund security vulnerabilities:

1. No automated risk control system;

2. No order tracking number;

3. Withdrawal approval is now completely automated;

4. The custodian bank was not disclosed.

5. There are no third-party audit records.

This means that customers can only rely on "verbal confirmation from customer service" to determine the status of the transaction.

Funds management security rating: 3.4 / 10

XI. Comprehensive Risk Assessment

Overall rating: 3.9 / 10 (High risk)

National Securities Company is a long-established local brokerage firm in Oman, but its infrastructure and service standards have clearly stagnated.
Weak regulatory protection mechanisms, brand counterfeiting, and low financial transparency have placed the company in a high-risk position in the international market.
For overseas investors, both account opening and withdrawal operations pose significant risks.

Investment advice:

• Visit the official website only: https://nsc-oman.com ;

• Do not trust any websites containing words such as "FX", "Global", or "Trade";

• Keep bank receipts, screenshots, and email correspondence;

• Foreign investors are advised to choose brokerages regulated by the FCA, ASIC, or CySEC as alternatives.

12. FAQ (Frequently Asked Questions)

Q1: Is National Securities a scam?
The official company is not a scam, but its brand is frequently misused by fraudulent websites.

Q2: Is it regulated?
Yes, it is regulated by the Omani CMA, but enforcement is weak.

Q3: How fast are withdrawals?
It usually takes about 5 business days and requires manual confirmation.

Q4: Is it safe?
The funds are not clearly managed and lack an automatic risk control system, resulting in low security.

Q5: Would you recommend opening an account?
This product is only suitable for local Omani investors and is not recommended for international clients.

Q6: Which is the official website?
https://nsc-oman.com

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