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No Regulation
Score
1.12 /10
Danger
Prime OTP
Within 1 yearSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
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Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index4.00
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 :
2025-01-11
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Prime OTPReview Summary | |
| Founded | 2024-01-12 |
| Registered Country/Region | Mauritius |
| Regulation | Unregulated |
| Market Instruments | Forex/Commodities/Indices/Shares/Metals/CFDs |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | From 0.2 pips |
| Trading Platform | MT5 (Windows/Mac/Android/iOS) |
| Min Deposit | $100 |
| Customer Support | Email: info@primeotp.com |
| Online chat | |
| Social Media: Facebook, Instagram, Telegram, LinkedIn, YouTube, Twitter | |
Prime OTP Information
Registered in Mauritius, Prime OTP is an unregulated forex broker offering forex trading instruments. The broker also provides a standard and raw account. The minimum spread is from 0.2 pips and the minimum deposit is $100. Traders can access the MetaTrader 5 platforms with 24/5 customer support. Customer support is available via email, Facebook, Instagram, Twitter, LinkedIn, YouTube, and Telegram. Prime OTP Ltd is still risky due to its unregulated status.
Pros and Cons
| Pros | Cons |
| 24/5 customer support | Unregulated |
| Accessible official website | No 24/7 customer support |
| MT5 available | Demo account unavailable |
| Leverage up to 1:500 |
Is Prime OTP Legit?
Prime OTP is not regulated, even though it claims to be regulated by the Financial Services Commission(FSC). However, an unregulated broker is not as safe as a regulated one.
What Can I Trade on Prime OTP?
Traders can choose different investment directions because the broker provides traders access to forex, commodities, indices, shares, metals, and CFDs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Shares | ✔ |
| Indices | ✔ |
| CFDs | ✔ |
| Metals | ✔ |
| Cryptocurrencies | ❌ |
| Stocks | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Prime OTP has two account types: Standard account and Raw account. Traders who want to have both low spreads can choose to open a raw account.
| Account Type | Standard | Raw |
| Spreads | From 1.3 pips | From 0.2 pips |
| Commission | No commission | $7 |
Prime OTP Fees
The spread of the standard account isfrom 1.3 pips, and the spread of the raw account is from 0.2 pips. The commission of the standard account is 0, and the commission of the raw account is $7. The lower the spread, the faster the liquidity.
Leverage
The maximum leverage is 1:500meaning that profits and losses are magnified 500 times.
Trading Platform
Prime OTP cooperates with the authoritative MT5 trading platform available in Windows, Mac, Android, and iOS versions. Traders with rich experience are more suitable for using MT5.
| Trading Platform | Supported | Available Devices |
| MT5 | ✔ | Windows/Mac/Android/iOS |
Deposit and Withdrawal
The minimum deposit is $100. Deposit and withdrawal methods include USDT TRC20, Skrill, Neteller, WebMoney, Local Transfer, and Bank Transfer.
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