Score
OTFX
Australia|1-2 years| https://www.otfx.com/#/
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Basic Information
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Website
otfx.com
Server Location
Australia
Website Domain Name
otfx.com
Server IP
3.24.204.134
Company Summary
Note: OTFX's official website: https://www.otfx.com/#/ is currently inaccessible normally.
| OTFXReview Summary | |
| Founded | 1-2 years |
| Registered Country/Region | Australia |
| Regulation | Regulated by ASIC (Suspicious Clone) |
| Market Instruments | Forex, Indices, Stocks, Bonds, Commodities CFDs, and Cryptocurrencies |
| Demo Account | / |
| Trading Platform | OTFX Platform |
| Min Deposit | $50 |
| Customer Support | Social media platforms (Twitter, Telegram, Facebook, and Instagram) |
OTFX Information
OTFX is a broker, established in Australia within the past 1-2 years. It offers six types of trading products and provides its proprietary OTFX Platform along with five deposit methods. However, its regulation is suspicious clone. It has a minimum deposit requirement of $50, and lacks transparency regarding account types and fees.
Pros and Cons
| Pros | Cons |
| Offers six types of trading products | Suspicious clone regulation |
| Provides OTFX Platform | Minimum deposit of $50 |
| Offers five deposit methods | Lacks account and fee information |
Is OTFX Legit ?
OTFX is regulated by the Australia Securities & Investment Commission (ASIC) under license number 670 543 772. However, its current status is Suspicious Clone.
What Can I Trade on OTFX?
OTFX offers six types of trading products: Forex, Indices, Stocks, Bonds, Commodities CFDs, and Cryptocurrencies.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Bonds | ✔ |
| Commodities CFDs | ✔ |
| Cryptocurrencies | ✔ |
Trading Platform
OTFX offers the OTFX platform, accessible through web, desktop, and mobile devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| OTFX platform | ✔ | Mobile and Desktop（Windows & macOS） | Experienced Trader |
Deposit and Withdrawal
OTFX supports a minimum deposit requirement of $50. It supports several deposit and withdrawal methods, including digital currencies, online banking, bank wire transfers, credit cards, and Skrill. Withdrawals can be made via credit or debit cards or bank wire transfers, with processing times typically ranging from one to two working days for online methods, and three to five working days for international wire transfers.
Keywords
- Scam Brokers
- 1-2 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Suspicious Overrun
- High potential risk
View More
News
Exposure What is the matter with OTFX?
OTFX, an Australia-based broker with around two years of trading experience, has recently come under scrutiny for its questionable practices.
2024-08-20 08:16
News OTFX enhances investment precision through technological progress and professional services.
In the investment field, precision is of utmost importance, as the saying goes, "A miss is as good as a mile.
2023-12-07 02:04
News The impact of OTFX's business philosophy on the financial investment industry.
Before establishing a successful venture, it is imperative to forge a successful team.
2023-12-07 02:02
News The future trend of OTFX is guiding the financial technology in the foreign exchange domain, reshaping the ecological landscape of the forex industry.
Navigating the path of technological advancement, constructing new heights
2023-12-06 02:18
News OTFX's principle of customer supremacy: Rigorously safeguarding client privacy in forex trading to ensure business compliance.
To seek the luxuriance of wood, one must first strengthen its roots
2023-12-06 02:17
News OTFX's Forex Internationalization Strategy: Expanding into the global forex market to increase brand influence.
As the footsteps of time continue to march forward, a globalized market is gradually taking shape.
2023-12-06 02:16
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范倩芳
Taiwan
A man I met on a dating app told me that he had recently joined an investment group to invest in foreign exchange. It turned out to be a scam and now I can’t withdraw the money I deposited. So I hurry up to expose the whole thing.
Exposure
2024-03-14
外汇行业大师
Malaysia
Rubbish platforms, fraudulent platforms. Difficult to withdraw money. Stay away from black platforms as soon as possible.
Exposure
2024-01-19
雨火?
Hong Kong
For a securities firm within a year, it is a daily necessities locked market. There is no real transaction. It is just a packaged market.
Exposure
2023-11-29
Wentworth-Stanley
Argentina
On OTFX, customer service can be quite a rollercoaster—sometimes prompt, sometimes not. Their platform? User-friendly and pretty intuitive. There’s good news for traders on the spreads and fees front—it's in line with the industry standard. But they could spice things up a bit more on the trading instruments front. Their account types are varied, catering to traders across the board. Overall, my OTFX journey has largely been a positive experience.
Neutral
2023-12-01