Otet Markets review: Regulations, Platforms, Trading Instruments and Broker Ratings.
1 •
2 REVIEWS
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 |
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| Maximum Leverage: | 3000:1 |
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| Minimum to Open Live: | $100 |
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| Established: | 2023 |
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| 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) |
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| Web Trading: | ✅ Yes |
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| Mobile Trading: | ✅ Yes |
| ECN: | ✅ Yes |
| Currencies: | (70+) |
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| Cryptocurrencies: | (25+) Bitcoin, Litecoin, Ethereum |
| CFD: | (225+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities |
Trading Conditions |
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| EAs/Robots: | ✅ Yes |
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| Deposit Methods: | VISA, MasterCard, Bitcoin, Online Bank Transfer, PerfectMoney, Tether (USDT), WebMoney |
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| Withdrawal Methods: | VISA, MasterCard, Bitcoin, Online Bank Transfer, PerfectMoney, Tether (USDT), WebMoney |
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1 •
2 REVIEWS
Recent User Reviews of Otet Markets
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.
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