FXOTP foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://clients.fxotp.com/client/register/672b66a765681, about the company's legal and temporary regulatory information, the company's address Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet LC01 101. Saint Lucia.
FXOTP Forex Broker
Basic information
Saint Lucia
1-2 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
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 Cons
| Pros | Cons |
| Various trading options | Not regulated |
| Demo accounts | High minimum deposit |
| No commissions for the Standard account | Long deposit/withdrawal processing time |
| MT5 supported | |
| Popular payment options | |
| No deposit/withdrawal fees | |
| No minimum withdrawal | |
| Multiple contact channels |
Is 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 Type | Spread | Commission |
| STANDARD | From 1.3 pips | ❌ |
| RAW | From 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 Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Windows, MAC, Android, iOS, WebAPP, WebTrader | Experienced traders |
| MT4 | ❌ | Web, Desktop, Android, iOS | Beginners |
Deposit 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 Option | Processing Time |
| Bank wire transfer | 3-5 working days |
| Visa/Mastercard | In time |
| Online wallet | In time |
Rating Index
FXOTP Similarly Rated Brokers
Latest Reviews
DanzaKuduro
Thailand
No deposit bonus of $30, no minimum withdrawal amount When I earned $110, I made a withdrawal request. It does not transfer profits. Tak asked for support, and a robot answered. The page administrator removed the ads on the page. I don't review. Let us know which page. If it's for good intentions, you must filter out Brock before convincing others. This is a waste of time, Brock.
Exposure
2024-09-24
FX3145962170
Thailand
I saw a promotion from a referral and signed up to trade with a $30 bonus on 9/20/24, but when I tried to withdraw, I couldn't. I contacted the broker but was told it would be within 24 hours. Now it's been more than 4 days. Everyone should be careful when depositing and using trading bonuses with this broker, as it is a scam.
Exposure
2024-09-24