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Score

1.29 /10
Danger

Otrade

United Kingdom

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://toroc.io

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Comparison

Expose

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index5.29

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
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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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

Otrade · Company summary

Note: Otrade's official website: https://toroc.io/ is currently inaccessible normally.

Otrade Information

Otrade, registered in London, UK in 2022. The trading instruments offered by the brokerage are Cryptocurrencies, CFDS and Stocks. But Otrade's website is inaccessible and opaque, offering a small range of trading instruments that are not regulated.

Otrade Information

Is Otrade Legit？

Otrade is currently unregulated.

Therefore, the broker may have greater problems and risks in terms of security, legality, credibility and stability.

Investors are invited to choose brokers that are strictly regulated to ensure the legitimacy and standardization of their business operations.

Is Otrade Legit?

Trading Instruments

Otrade offers three main types of trading instruments to meet the needs and preferences of various investors, mainly Cryptocurrencies, CFDS and Stocks.

Trading Instruments

Payment Methods

The broker supports these three payment methods, VISA, Bitcoin and Mastercard.

Payment Methods

Downsides of Otrade

  • Unavailable website

Its official website is not accessible, so the information that can be queried is very scarce.

  • Lack of transparency

Otrade lacks transparencyand investors have a relatively low understanding of the broker.

  • Regulatory concerns

The broker isnot regulated, which means that its safety factor is not high and the risk is large.

  • Less trading instruments

The information that can be queried shows that compared with other brokers, Otrade has fewer trading tools and payment methods, which is not the best choice for investors.

Negative Otrade Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

As of now, there was 1 piece of Otrade exposure in total. I will introduce it.

Exposure 1. Suspected fraud

ClassificationAccount problem
Date2024-01-23
Post CountryArgentina

The user said that his account has been suspended and has not received a response for a long time, please beware of the broker.

You may visit: https://www.wikifx.com/en/comments/detail/Co202401237731272503.html

Negative Otrade Reviews on WikiFX

Conclusion

In summary, the Otrade official website is not available, information disclosure is less, it is not regulated, and there are problems such as user exposure account suspension and no response. These circumstances show that trading with Otrade is extremely unsafe and vulnerable to capital losses.

Investors are asked to take the above issues seriously, and must be careful when choosing brokers, focusing on the safety of personal funds and property.

User Reviews

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User comment

2

Comments

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FX1607060732
more than one year
I have yet to receive a response from Otrade as of January 24, 2024. Given this, I'm inclined to give them a 1-star review. I reached out to their customer service, providing my name and MT4 account details, and have been waiting for a reply. My account has been suspended for over two weeks, leaving me unable to take any action. I consistently receive the same response: "Once an email notifies you, an update will be provided immediately." However, I have never received any emails. It's advisable for people to steer clear of this broker.
I have yet to receive a response from Otrade as of January 24, 2024. Given this, I'm inclined to give them a 1-star review. I reached out to their customer service, providing my name and MT4 account details, and have been waiting for a reply. My account has been suspended for over two weeks, leaving me unable to take any action. I consistently receive the same response: "Once an email notifies you, an update will be provided immediately." However, I have never received any emails. It's advisable for people to steer clear of this broker.
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2024-01-23 19:11
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Divergent
more than one year
Otrade provides a user-friendly interface with a range of trading options, suitable for both beginners and experienced users. However, occasional real-time data lag, inconsistent customer support, and a confusing fee structure are notable drawbacks. While it's adequate for beginners, seasoned traders may find better alternatives with advanced features and more reliable performance.
Otrade provides a user-friendly interface with a range of trading options, suitable for both beginners and experienced users. However, occasional real-time data lag, inconsistent customer support, and a confusing fee structure are notable drawbacks. While it's adequate for beginners, seasoned traders may find better alternatives with advanced features and more reliable performance.
Translate to English
2023-12-20 12:08
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