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FXOTP -

Score

1.69 /10
Danger

FXOTP

Saint Lucia

1-2 years

Suspicious Regulatory License

MT5 Full License

Regional Brokers

High potential risk

https://fxotp.com

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Comparison

Quantity 2

Exposure

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Website

Score

Regulatory Index0.00

Business Index4.08

Risk Management Index0.00

Software Index7.73

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

FXOTP LTD

Company Abbreviation

FXOTP

Platform registered country and region

Saint Lucia

Company website

X

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

NO DEPOSIT BONUS : Unable to withdraw money

I saw a promotion from a referral and signed up to trade with a $30 bonus on 9/20/24, but when I tried to withdraw, I couldn't. I contacted the broker but was told it would be within 24 hours. Now it's been more than 4 days. Everyone should be careful when depositing and using trading bonuses with this broker, as it is a scam.

FX3145962170
2024-09-24 08:37
Unable to Withdraw

Fxotp Cheating Watch

No deposit bonus of $30, no minimum withdrawal amount When I earned $110, I made a withdrawal request. It does not transfer profits. Tak asked for support, and a robot answered. The page administrator removed the ads on the page. I don't review. Let us know which page. If it's for good intentions, you must filter out Brock before convincing others. This is a waste of time, Brock.

DanzaKuduro
2024-09-24 01:26
FXOTP · Company summary
FXOTPReview Summary
Founded2023
Registered Country/RegionSaint Lucia
RegulationUnregulated
Market InstrumentsCFDs on forex, indices, shares, metals, and commodities
Demo Account✅
LeverageUp to 1:500
SpreadFrom 1.3 pips (Standard account)
Trading PlatformMT5
Min Deposit$300
Customer Support24/5 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.

FXOTP's homepage

Pros and Cons

ProsCons
Various trading optionsNot regulated
Demo accountsHigh minimum deposit
No commissions for the Standard accountLong 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!

No license

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.

Account comparison

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 TypeSpreadCommission
STANDARDFrom 1.3 pips❌
RAWFrom 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 PlatformSupported Available Devices Suitable for
MT5✔Windows, MAC, Android, iOS, WebAPP, WebTraderExperienced traders
MT4❌Web, Desktop, Android, iOSBeginners

Deposit and Withdrawal

FXOTP accepts bank wire transfer, Visa/Mastercard and online wallets like Sticpay,USDT-TRC20, Skrill and Neteller as payment methods.

The minimum deposit is $300 and the minimum withdrawal is $0.

Any payments made via bank wire transfer could take3-5 working days to show on an account.

Payment OptionProcessing Time
Bank wire transfer3-5 working days
Visa/MastercardIn time
Online walletIn time

User Reviews

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User comment

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Comments

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FX3145962170
3-6months
I saw a promotion from a referral and signed up to trade with a $30 bonus on 9/20/24, but when I tried to withdraw, I couldn't. I contacted the broker but was told it would be within 24 hours. Now it's been more than 4 days. Everyone should be careful when depositing and using trading bonuses with this broker, as it is a scam.
I saw a promotion from a referral and signed up to trade with a $30 bonus on 9/20/24, but when I tried to withdraw, I couldn't. I contacted the broker but was told it would be within 24 hours. Now it's been more than 4 days. Everyone should be careful when depositing and using trading bonuses with this broker, as it is a scam.
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2024-09-24 08:37
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DanzaKuduro
more than one year
无存款奖金30美元无批量最低取款30美元 当我赚了110美元时，我提出了提款请求。 它不转移利润。 Tak询问支持，是机器人回答。 页面管理员删除了页面上的广告。我不审查。让我们知道哪个页面。 如果是出于好意，你必须在说服别人之前过滤掉布罗克。 这是浪费时间，布罗克。
无存款奖金30美元无批量最低取款30美元 当我赚了110美元时，我提出了提款请求。 它不转移利润。 Tak询问支持，是机器人回答。 页面管理员删除了页面上的广告。我不审查。让我们知道哪个页面。 如果是出于好意，你必须在说服别人之前过滤掉布罗克。 这是浪费时间，布罗克。
Translate to English
2024-09-24 01:26
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