Three trading accounts and CFD over Forex are provided by OT capital. The broker claims to be based in Australia and provides higher leverage and spreads. It is one of the scam brokers present in the foreign exchange market and therefore we don’t recommend it. There are some positives and negatives of this broker and we will discuss them side-by-side to give you a comprehensive and total review. Read full OT Capital review here.
About OT Capital:
The three trading accounts named as Silver, Gold and Platinum. Sadly, the broker does not provide the minimum deposit required to operate these accounts. The maximum leverage of 1:200 to 1:400 and 1:500 are offered. Also spreads ranging from 2 to 3 pips can be seen. Some of the positive are discussed here. The broker provides trading on the MetaTrader 4 trading platform. There are many benefits of MetaTrader as it supports automatic strategies, many built-in indicator and charts. MT is a very powerful tool and most of the brokers provide it. The official websites of OT Capitals leverage up to 1:500 these are comparatively high and its availability is a nice option. However, leverages are controversial due to their high losses causing nature and they are banned in many regulated markets. The trading instruments at OT Capital include foreign exchange, cryptocurrencies, stocks, indices, commodities and others.
Now we will look at all the negatives of this broker. The brand OT Capital is owned by OT markets Pvt Ltd company claims to be situated in Australia. The brokers claim to be regulated by an ASIC an Australian local financial regulator. All the claim of this broker is false. It does not hold any licensing and has received many negative reviews about it. The trading conditions are unclear. The broker fails to mention the minimum deposit required, what payment methods it uses. All of this nature of a scam broker. The broker also falsely claimed to provide MetaTrader trading platform and does not give its download link so we are not sure what the trading conditions are.
Is OT Capital scam or legit?
The broker falsely claims to provide legal trading and MetaTrader. It further fails to disclose its trading conditions. The spreads and leverages offered are not competitive and increase the cost of the trading manifold. Therefore we claim is as a potential scam broker 2020.