FXOTP Forex Broker

FXOTPReview SummaryFounded2023Registered Country/RegionSaint LuciaRegulationUnregulatedMarket InstrumentsCFDs on forex, indices, shares, metals, and commoditiesDemo Account✅LeverageUp to 1:500SpreadFrom 1.3 pips (Standard account)Trading PlatformMT5Min Deposit$300Customer Support24/5 supportContact formTel: +97142254643Email: support@fxotp.comTwitter: 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/Registration Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, LC01 101. Saint LuciaPhysical Address: Office No. 01, Zainal Baqer Mohebi Building, Al Suq Al Kabeer, Bur Dubai. 122002 Dubai FXOTP is a forex and CFD broker registered in Saint Lucia. 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 accountS, and also provides low spreads for commission-free standard accounts and original accounts. However, the lack of regulation is a major concern, which makes it risky.Pros and ConsProsConsVarious trading optionsNot regulatedDemo accountsHigh minimum depositNo commissions for the Standard accountLong deposit/withdrawal processing timeMT5 supportedPopular payment optionsNo deposit/withdrawal feesNo minimum withdrawalMultiple contact channelsIs FXOTP Legit? No, FXOTP is not regulated by any reputable financial body. Please be aware of the risk!What Can I Trade on FXOTP? On FXOTP, traders can trade CFDs on forex, indices, shares, metals, and commodities.Tradable Instruments Supported CFDs✔Forex✔Commodities✔Metals✔Indices✔Shares✔Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type FXOTP offers two accounts to choose from, including Standard and RAW accounts. FXOTP not only provides live accounts but also sets up a freedemo account for traders to practice trading with virtual fund.Leverage FXOTP offers a leverage of up to1:500 for all accounts, which is quite high. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.Fees Trading Fees The Standard account offers 1.3 spreads but no commissions, while the Raw account has tighter spreads from 0.2 pips, but charges a commission of $7 per lot.Account TypeSpreadCommissionSTANDARDFrom 1.3 pips❌RAWFrom 0.2 pips$7 per lot traded Swap Rates Both accounts have 0% swap fees. Non-Trading Fees FXOTP doesn't charge a deposit or withdrawal fees.Deposit Fee ❌Withdrawal Fee ❌Inactivity Fee /Trading PlatformTrading PlatformSupported Available Devices Suitable for MT5✔Windows, MAC, Android, iOS, WebAPP, WebTraderExperienced tradersMT4❌Web, Desktop, Android, iOSBeginnersDeposit and Withdrawal FXOTP accepts bank wire transfer, Visa/Mastercard and online wallets like Sticpay,USDT-TRC20, Skrill and Neteller as payment methods. The minimum deposit is $300 and the minimum withdrawal is $0. Any payments made via bank wire transfer could take3-5 working days to show on an account.Payment OptionProcessing TimeBank wire transfer3-5 working daysVisa/MastercardIn timeOnline walletIn time