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Global Broker Regulation & Inquiry App

Score

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/10

FXOTP

Saint Lucia|Within 1 year|
High potential risk|

https://fxotp.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
Fxotp-Server MT5
Server Location Singapore

Contact

+971 42254643
support@fxotp.com
https://fxotp.com/
Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet LC01 101. Saint Lucia

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

Open Now

Contact number

English

+971 42254643

Other ways of contact

Broker Information

More

Company Name

FXOTP LTD

Abbreviation

FXOTP

Platform registered country and region

Saint Lucia

Company website
Twitter
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YouTube
Linkedin

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-11-06
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

FXOTP · WikiFX Survey

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FXOTP · Company Summary

FXOTP Information

FXOTP is a forex and CFD broker registered in Ground Floor. 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 account, and also provides low spreads for commission-free standard accounts and original accounts, making it suitable for traders of all levels. However, the lack of regulation is a major concern, which makes it risky.

FXOTP Information

Pros and Cons

Pros Cons
Variety of Tradable InstrumentsLack of Regulation
No Deposit/Withdrawal FeesMT5 Trading Platform, not prividing MT4
Two Account Types for Different Traders
24/5 Customer Support and Multiple Contact Options

Is FXOTP Legit?

The registered address of FXOTP is Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet LC01 101. Saint Lucia with registration number 2023-00396.

However, its regulatory information can't been found in FSRA, and it has not been regulated by other well-known regulatory authorities such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).

Is FXOTP Legit?

What Can I Trade on FXOTP?

FXOTP allows you trading CFDs on forex, indices, shares, metals, and commodities, using their trading platforms.

Tradable Instruments Supported
Forex
Indices
Shares
Metals
Commodities
ETFs
Crypto
Energies

Account Type

FXOTP provides two account types for users to choose from, and provides demo account.The standard account is very suitable for beginners and those who like an easier trading experience. It offers a competitive spread as low as 1.3 points, ultra-fast execution speed, and no commission for transactions so it is an economical choice for many people.

On the other hand, the raw account is designed for experienced traders who prioritize the lowest possible spread. The spread of this account is only 0.2 points, providing finer market access, but a commission of $7 is charged per lot of trading. This account type is suitable for high-frequency traders and people who perform a large number of transactions.

Account Type

FXOTP Fees

Fxotp fees are a medium level compared in the industry.

Trading Fees

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

Swap Rates

Both accounts have 0% swap fees.

FXOTP Fees

Trading Platform

Trading PlatformSupported Available Devices Suitable for which type of traders
MT4//
MT5
  1. Expert analysis, and customized reports.
  2. User-Friendly Interface
  3. Security and Trust
  4. 24/5 Customer Support
  5. Segregated Client Accounts
Traders of all levels

Deposit and Withdrawal

FXOTP doesn't charge a deposit or withdrawal fees. The minimum deposit is $300, and there are different gifts for different deposit levels.

Deposit Options

Deposit Options Min. DepositFees Processing Time
BANK WIRE TRANSFER300No3-5 working days
VISA/MASTERCARD300NoIn time
Online wallet options300NoIn time

Withdrawal Options

Withdrawal Options Min. Withdrawal Fees Processing Time
BANK WIRE TRANSFER0No3-5 working days
VISA/MASTERCARD0NoIn time
Online wallet options0NoIn time

Customer Service

FXOTP offers multiple ways to reach customer service, including phone, email, online chat, and a contact form. They have 24/5 customer support, which is a plus. However, they only support English service, which may not be convenient for non-native English speakers.

Contact Options Details
Phone+97142254643
Emailsupport@fxotp.com
Support Ticket SystemNone
Online ChatYes
Social MediaTwitter: https://twitter.com/FXOTPLTDFacebook: https://www.facebook.com/FXOTPInstagram: https://www.instagram.com/fxotpltd/Linkedin: https://www.linkedin.com/company/fxotpltd/Youtube: https://www.youtube.com/
Supported LanguageEnglish
Website LanguageEnglish
Physical AddressOffice No. 01, Zainal Baqer Mohebi Building, Al Suq Al Kabeer, Bur Dubai. 122002 Dubai.
Contact FormYes

The Bottom Line

The advantage of FXOTP lies in its variety of trading instruments and low spreads with commission-free, but the lack of regulation is its biggest risk. FXOTP is a good choice for traders with high risk tolerance and seeking diversified investment oppportunities.

FAQs

Is FXOTP a safe broker to use?

Because FXOTP is not regulated by any major financial agencies, using it carries some risk.

Is FXOTP good for beginners?

Yes, FXOTP has a user-friendly trading interface, 24-hour customer service, and a demo account for beginners to trade.Is FXOTP good for day trading?

Spreads on raw accounts are tight, but commission costs could lower returns.

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