For more information about OTM Trade Forex Broker company profile, come to WikiBit!
Business
License
OTM Trade Company, also known as OTM Capital, was established in 2018. It was founded with the objective of providing a comprehensive online trading platform for forex, stocks, commodities, and indices.
OTM Trade operates under OTM Capital LLC, which is based in the United States. The ownership structure has not been extensively detailed in public sources, but it is overseen by a small team, including key personnel such as Tonia Mesidor, who serves as an officer of the company.
OTM Trade is headquartered at 28 Wysteria Court, Torrington, CT, 06790, United States. This location serves as the central hub for its operations and customer service.
OTM Trade aims to provide access to global financial markets, offering a variety of trading instruments to clients worldwide. The platform supports traders from multiple countries, although it is essential to note that it has faced scrutiny regarding its regulatory status.
OTM Trade claims to be regulated by several bodies, including:
However, it has been labeled a "clone firm," raising concerns about the legitimacy of its regulatory licenses.
Since its inception in 2018, OTM Trade has focused on building its online trading platform. However, the company has faced significant challenges, including being listed on scam broker lists and receiving numerous complaints regarding its operations.
OTM Trade has attempted to expand its offerings by including a variety of trading instruments, including forex, stocks, and commodities. Despite these efforts, its reputation has been marred by allegations of fraudulent practices.
Reports indicate that OTM Trade has a limited customer base, primarily due to its negative reputation and regulatory concerns. The company has received a substantial number of complaints from users regarding withdrawal issues and alleged fraud.
OTM Trade's platform has evolved to include mobile and web trading capabilities, allowing users to trade from various devices. However, specific details about the technological advancements or updates to the platform are scarce.
OTM Trade has not been recognized with any significant awards or accolades that would enhance its credibility within the trading community.
OTM Trade offers a selection of over 70 forex currency pairs, providing traders access to major, minor, and exotic currencies. The platform allows leveraged trading, with leverage ratios reportedly up to 1:500.
The company provides over-the-counter (OTC) trading options for various U.S. stocks. However, the specific number of stocks available for trading is not clearly defined in available resources.
OTM Trade includes a range of Contracts for Difference (CFDs) across various asset classes, including indices, commodities, and cryptocurrencies. This allows traders to speculate on price movements without owning the underlying assets.
Apart from forex and stocks, OTM Trade offers trading in commodities such as gold, silver, and oil. However, it does not support cryptocurrency trading, which is a growing demand in the market.
OTM Trade claims to provide competitive spreads and fast execution times. Additionally, it offers a mobile app for trading, which enhances the accessibility of its services. However, the effectiveness and reliability of these services have been questioned due to the company's regulatory issues.
OTM Trade is regulated by:
Despite these claims, OTM Trade has been classified as a "clone firm," indicating that its licenses may not be valid or legitimate.
The legal entity structure of OTM Trade is primarily based in the United States, but it operates under the regulatory frameworks of Indonesian authorities. This dual structure raises questions about compliance and oversight.
There is limited information available regarding client fund protection measures for OTM Trade. Generally, unregulated brokers do not offer robust protection mechanisms, making it risky for investors.
OTM Trade serves clients globally, although its reputation has led to a cautious approach from potential traders. Specific countries where it operates may vary, but it primarily targets markets in Asia and the United States.
OTM Trade has faced numerous complaints, with users reporting issues related to fund withdrawals and alleged fraudulent activities. This negative compliance history significantly impacts its credibility in the trading community.
OTM Trade faces competition from several established forex and online trading platforms, including:
OTM Trade positions itself as a provider of diverse trading options and fast execution times. However, its reputation as a potentially fraudulent broker undermines its positioning in the competitive landscape.
Key differentiation factors for OTM Trade include its claimed high leverage options and the variety of trading instruments. However, the lack of a robust regulatory framework and numerous complaints about its services severely limit its competitive edge.
In summary, OTM Trade Company presents itself as a comprehensive trading platform offering a range of financial instruments. However, its reputation has been tarnished by regulatory concerns and numerous user complaints. Potential traders should exercise caution and conduct thorough research before engaging with OTM Trade. For those interested in exploring safer trading options, it is advisable to seek brokers regulated by top-tier financial authorities.
Learn more about safe trading practices and how to choose a reliable broker.
Explore broker companies: forex/fx trading, investment, and global limited. Check company details.