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OLX Autos

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Regulated

Recommended

IUX

(2,286 reviews)

Mauritius

2015

(10 years)

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ASIC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

Company Information

Get to know OLX Autos

Company Information

Get to know OLX Autos

OLX Autos was the automotive business unit of the global marketplace operator OLX Group, which is owned by the Dutch tech investor Prosus. Launched as an evolution of the traditional classifieds model, OLX Autos operated a "consumer-to-business-to-consumer" (C2B2C) platform. It offered services for individuals to sell their cars directly to the company through a network of physical inspection centers, after which OLX Autos would recondition and sell the vehicles to other consumers and dealers. The platform aimed to bring trust, transparency, and convenience to the complex used car market. However, in mid-2023, Prosus announced the shutdown of OLX Autos operations in most markets, citing poor macroeconomic conditions and the significant investment required to achieve profitability.

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