Otet Markets review: Regulations, Platforms, Trading Instruments and Broker Ratings.

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1 • 2 REVIEWS
Updated: Jul 20, 2024
OtetMarkets.com

What is Otet Markets?

Otet Markets, owned by Otet Group LTD, is a forex broker with trading platforms of MetaTrader 5 and cTrader as well as Otet Mobile APP.

OtetMarkets.com offers over 70 forex currency pairs, stocks, indices, commodities, oil, gold, silver, and cryptocurrencies (bitcoin etc.), for your personal investment and trading options.

Please read OtetMarkets Reviews below and share your live trading experiences with this broker.

Broker Details

Minimum Trade Size: 100
Maximum Leverage: 3000:1 *
Minimum to Open Live: $100
Established: 2023
Address: Vasili Vryonides St, Gala Court Chambers, 2nd Floor, Office 203-204, Office No C-63095, Limassol, Cyprus
Contact: support@otetmarkets.com, +35725731042
Regional offices:
Regulators: MISA #T2023304
Prohibited countries:
Trading platforms: MT5, cTrader, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (70+)
Cryptocurrencies: (25+) Bitcoin, Litecoin, Ethereum
CFD: (225+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: VISA, MasterCard, Bitcoin, Online Bank Transfer, PerfectMoney, Tether (USDT), WebMoney
Withdrawal Methods: VISA, MasterCard, Bitcoin, Online Bank Transfer, PerfectMoney, Tether (USDT), WebMoney
* Offerings and features listed above may vary by account type, jurisdiction, and other factors. Please check the broker's website for more information.
1 • 2 REVIEWS

Recent User Reviews of Otet Markets

K
KALEO
Brazil, Brazil,
Jan 20, 2024,
Registered user

Terrible experience

Service use: Live Length of use: 0-3 Months
After trading here for a few days I noted something was not right with spreads and I decided to withdraw the full account. They immediately blocked my account and emailed me that I violated some rules and asked me my strategy and tools...what??? it past 1 month and I still haven't got my money. the live chat is useless.
1 trader has found this review helpful
O
OtiTrader
Albertirsa, Hungary,
Dec 15, 2023,
Registered user

They have rejected my withdrawal

Service use: Live Length of use: 0-3 Months
I opened an account about a month ago. My pnl went from 500 to 400 then to 800, then 600, then took off and I reached 1K.
I made maybe 20 traded on DAX and 15 on gold a day on avarage, and was holding position between 2 min and 8 hours.
On average I was holding a position for maybe 30min. So relatively short, but I don't think it would violate any rules.

Here are the last few days of my trading:
https://prnt.sc/o65we7MKm2vl
https://prnt.sc/914gMWAbAlFt
https://prnt.sc/oUM4f-VexIGx
https://prnt.sc/1EBnyj5oGkbc

That was the point when I decided to withdraw half of it, but then I got this message:
"RE: Trading Account Violation Inquiry,
We hope this letter finds you well.
It has come to our attention thatcertain trading activities in your account 510342 number with OtetMarkets Forex Brokerage have raised concerns regarding possible ruleviolations.
We take regulatory compliance seriously to ensure fair andsecure trading for all our clients.
We kindly request that you provide us with relevant documents related toyour trading methods and tools employed.
This information will aid us inconducting a thorough investigation to ensure compliance with ourtrading policies and industry regulations.
Thank you for your immediate attention to this matter.
Best Regards--Legal Department Of Otet Marketslegal@otetmarkets.com"


I don't document my strategy so I don't even understand, but this is a red flag for me.
Luckily I have deposited only 500 USD, but I would not dare to transfer larger amount like 5-10K to a broker like this.
They are not even willing to release my initial capital, so be careful with this broker.I hope it is not over yet.
Once there is an update, I will update my review accordingly.
1 trader has found this review helpful