OTTMarkets

OTTMarkets Information

OTTMarkets, from China, is an unregulated broker that offers traders over 366 trading instruments, including Forex, indices (indices), spot metals, spot energy, cryptocurrencies, US equities, EU equities, Asian equities, ETFs and more. It offers traders a choice of three accounts with a spread starting at 0.0pips.

Pros and Cons

Is OTTMarkets Legit?

OTTMarkets is not currently regulated and its operations are not subject to laws and regulations, posing safety risks. Therefore, traders should be careful to guard against risks.

What Can I Trade on OTTMarkets?

On OTTMarkets, traders can trade forex in more than 101 currency pairs. The broker also offers a wide range of global index trading, choosing from well-known indices such as Australia 200 Index, UK 100 Index, US 500 Index, US 30 Index, etc.

In addition, seven of the most popular ETFs such as SPDR Gold Trust, Vanguard S&P500, iShares Russell 2000, United States Oil Fund and others can be traded through OTTMarkets. It also trades 16 major metals and energy sources, including well-known metals such as gold, silver, platinum and palladium, as well as energy sources such as natural gas and oil.

Finally, you can trade more than 119 stocks, including Amazon and Tesla, as well as more than 111 cryptocurrency pairs.

Account Types

OTTMarkets' three Account types, namely Standard Account, Prime Account, and Institutional Account, all provide access to global markets, raw spreads, negative balance protection, and the same maximum leverage and minimum volume. The spread for all account types starts at 0.0 and the available base currency is the same.

In addition, their minimum deposit requirements and commission rates are inversely related. Institutional account has the lowest commission: $3 per side per $100K traded, and the highest minimum deposit requirement: $10,000. Standard account has a minimum deposit requirement of $100, but the commission rate is relatively high :$9 per side per $100K traded.

OTTMarkets Fees

Among OTTMarkets' tradable instruments, Forex, Stock have spreads as low as 0.0pips, while Index, ETFs, Spot Metals & Energies and Cryptocurrencies have spreads as low as 0.0pips.

OTTMarkets' three account trades charge commissions based on the trader's volume and trading instruments.

Trading Platform

Deposit and Withdrawal

OTTMarkets does not provide a deposit or withdrawal method. Just know that the broker's minimum deposit requirement is $100.

Customer Service

OTTMarkets claims to offer 24/7 customer service, but there is no other way for traders to access customer support.

The Bottom Line

OTTMarkets says it offers traders more than 366 instruments, with spreads as low as 0.0pips and three different account types, which sound rich. But traders have to see behind the fact that it doesn't support MT4/5, customer service is terrible, and being unregulated is a “bombshell.” Therefore, please consider carefully, the safety of funds first.

FAQs

Is OTTMarkets safe?

No, OTTMarkets is not safe. Being unregulated is like a “bombshell” and carries risks. Traders should stay away.

Is OTTMarkets good for beginners?

No, OTTMarkets is not for beginners. No MT4/5 platform, unregulated. That was enough to exclude the broker.

Is OTTMarkets good for day trading?

No, it is not a suitable broker for day trading. OTTMarkets limits traders to effective trading as it is currently unregulated and does not support MT4/5.