FXOTP Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-05 11:04

Abstract：FXOTP is a forex and CFD broker registered in Saint Lucia. It offers a variety of tradeable instruments, including forex, indices, stocks, metals and commodities. FXOTP has a esay-to-use trading paltform, 24/5 customer service and demo accountS, and also provides low spreads for commission-free standard accounts and original accounts. However, the lack of regulation is a major concern, which makes it risky.

FXOTPReview Summary
Founded	2023
Registered Country/Region	Saint Lucia
Regulation	Unregulated
Market Instruments	CFDs on forex, indices, shares, metals, and commodities
Demo Account	✅
Leverage	Up to 1:500
Spread	From 1.3 pips (Standard account)
Trading Platform	MT5
Min Deposit	$300
Customer Support	24/5 support
	Contact form
	Tel: +97142254643
	Email: support@fxotp.com
	Twitter: https://twitter.com/FXOTPLTD
	Facebook: https://www.facebook.com/FXOTP
	Instagram: https://www.instagram.com/fxotpltd/
	Linkedin: https://www.linkedin.com/company/fxotpltd/
	Youtube: https://www.youtube.com/
	Registration Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, LC01 101. Saint Lucia
	Physical Address: Office No. 01, Zainal Baqer Mohebi Building, Al Suq Al Kabeer, Bur Dubai. 122002 Dubai

　　FXOTP is a forex and CFD broker registered in Saint Lucia. It offers a variety of tradeable instruments, including forex, indices, stocks, metals and commodities. FXOTP has a esay-to-use trading paltform, 24/5 customer service and demo accountS, and also provides low spreads for commission-free standard accounts and original accounts. However, the lack of regulation is a major concern, which makes it risky.

Pros and Cons

Pros	Cons
Various trading options	Not regulated
Demo accounts	High minimum deposit
No commissions for the Standard account	Long deposit/withdrawal processing time
MT5 supported
Popular payment options
No deposit/withdrawal fees
No minimum withdrawal
Multiple contact channels

Is FXOTP Legit?

　　No, FXOTP is not regulated by any reputable financial body. Please be aware of the risk!

What Can I Trade on FXOTP?

　　On FXOTP, traders can trade CFDs on forex, indices, shares, metals, and commodities.

Tradable Instruments	Supported
CFDs	✔
Forex	✔
Commodities	✔
Metals	✔
Indices	✔
Shares	✔
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

　　FXOTP offers two accounts to choose from, including Standard and RAW accounts. FXOTP not only provides live accounts but also sets up a freedemo account for traders to practice trading with virtual fund.

Leverage

　　FXOTP offers a leverage of up to1:500 for all accounts, which is quite high.

　　It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Fees

　　Trading Fees

　　The Standard account offers 1.3 spreads but no commissions, while the Raw account has tighter spreads from 0.2 pips, but charges a commission of $7 per lot.

Account Type	Spread	Commission
STANDARD	From 1.3 pips	❌
RAW	From 0.2 pips	$7 per lot traded

　　Swap Rates

　　Both accounts have 0% swap fees.

　　Non-Trading Fees

　　FXOTP doesn't charge a deposit or withdrawal fees.

Deposit Fee	❌
Withdrawal Fee	❌
Inactivity Fee	/

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	Windows, MAC, Android, iOS, WebAPP, WebTrader	Experienced traders
MT4	❌	Web, Desktop, Android, iOS	Beginners