OtetMarkets Information
Otet Group LTD, headquartered in Cyprus, operates as an online forex broker, allowing traders to start real trading from $25. The broker offers traders access to a maximum leverage of up to 1:3000 and enables trading on MetaTrader 5 (MT5) and cTrader platforms. Tradable choices cover various markets, including forex, metals, indices, energy commodities, stocks, and cryptocurrencies.
Is OtetMarkets Legit?
OtetMarkets is regulated in Comoros, holding a Retail Forex License authorized by the Mwali International Services Authority (MISA) under license number T2023304.
Pros & Cons
On the positive side, it offers popular tradable instruments, multiple account types with low minimum deposit requirement, high leverage and access to the popular MT5 and cTrader trading platforms. However, limited educational resources remians a weakness. And no investor protection can even put client funds at risk.
Market Instruments
OtetMarkets allows trading on some popular markets across 6 classes of tradable instruments, including Forex, Metals, Indices, Energies, Stocks, Cryptos. However, Futures trading and Options trading are not supported on this platform.
Account Types
OtetMarkets' trading software offerings: MetaTrader 5 (MT5) and cTrader, dictate the structure of its trading accounts.
MT5 Accounts:
More details can be found in the screenshot below:
cTrader Accounts:
This account requires a minimum deposit of $25 only and provides unlimited potential for capital growth. It has a margin call level of 100% and offers the maximum trading leverage of 1:3000, allowing for significant trading flexibility. This account type features minimum spreads and imposes low commissions. The stop-out level is set at 40%, and the base currency is USD.
Leverage
OtetMarkets offers a maximum trading leverage of up to 1:3000. Leverage in the context of trading allows traders to control a larger position size in the market relative to their invested capital. With a leverage ratio of 1:3000, traders can potentially amplify their exposure to market movements, which can lead to both higher profits and higher risks. In this way, traders are advised to use leverage judiciously and be aware of the increased risk it entails.
Spreads & Commissions
How spread and costs are imposed depends on the trading accounts you have. Traders can choose an account type that suits their trading strategy and volume using this tiered approach, which takes spread dynamics and commission concerns into account.
Notably, spreads and commissions are not determined when you trade through the Copy Trading account. Just like the ECN account, the cTrader account uses the same pricing structure.
Trading Platforms
OtetMarkets offers a versatile selection of trading platforms.
MetaTrader 5 (MT5): MT5 is a comprehensive and versatile platform designed by MetaQuotes. It covers a wide range of financial markets, including forex, stocks, indices, and futures. With advanced tools for technical analysis, copy trading, and swift order execution, MT5 is suitable for traders of all levels.
cTrader: cTrader is a modern and practical platform for forex, stocks, and CFD trading. It features robust charting tools, various order types, trading alerts, and rapid execution. Its user-friendly interface creates a contemporary trading environment.
Otet Mobile Application: For traders on the go, the Otet Markets mobile app provides access to a broad spectrum of financial markets, from forex to commodities and stocks. Compatible with Android and iOS, this app ensures traders can execute transactions and stay informed no matter where they are.
Deposit & Withdrawal
OtetMarkets offers multiple deposit and withdrawal methods to provide flexibility and convenience in managing their trading accounts.
Deposit Options:
Clients can choose to deposit Tether (USDT) using the TRC20 network or the ERC20 network. Both options offer fast and automatic processing, and most notably, they come with no associated fees, making them an attractive choice for those utilizing the Tether cryptocurrency.
Bitcoin (BTC) enthusiasts can also deposit their digital assets with ease. Bitcoin deposits are processed quickly and automatically, with no additional charges imposed by the broker.
For traders dealing in traditional fiat currencies such as EUR/USD, OtetMarkets accepts deposits through several payment methods, including Web Money, Master Card, Visa Card, and Online Payment. However, the specific processing times and associated commissions for these methods may vary, so clients should be mindful of the details pertaining to their chosen payment option.
Withdrawal Options:
The withdrawal process is equally convenient for clients. Tether (USDT) can be withdrawn through either the TRC20 or ERC20 network, both offering relatively quick processing times of up to one day. The commission for these withdrawals falls within the range of 0% to 0.75%, depending on the chosen method.
Bitcoin (BTC) withdrawals share the same efficient processing time of up to one day, with a commission range of 0% to 0.75%, determined by the selected withdrawal method.
For clients looking to withdraw funds in traditional currencies like EUR or USD, OtetMarkets supports withdrawals through various payment methods, including Web Money, Master Card, Visa Card, and Online Payment. However, the processing times and associated commissions for these methods may differ, and clients should review the specific details corresponding to their preferred withdrawal option.
Notably, the broker does not deduct any fees for depositing and withdrawing digital currency funds. Any fees incurred during transfers related to the blockchain network are the responsibility of the respective currency users. This approach ensures transparency and allows clients to manage their funds with minimal additional costs.
Customer Support
FAQs
Is OtetMarkets a regulated forex broker?
Yes, OtetMarkets is offshore regulated in Comoros by MISA.
Is demo trading available atOtetMarkets?
Yes.
Does OtetMarkets offer the industry-leading MT4/5?
Yes. It offers MT5 and cTrader.
What is the minimum deposit required byOtetMarkets?
$25.
Is OtetMarkets a good broker for beginners?
Yes. It is regulated well, offers demo accounts, low minimum deposit, and the popular MT5 and cTrader platforms.
FX2312030032
Afghanistan
i was a new members of otetmarkets It is a scamm broker when i click to open 0.01 lots and now opened 1 Lot and i lost 30%of my money on the position After conversation otet team said you type mistake number But i have screen shot that show I don't typr e 1 lot i only open 0.01 lots And also now i can not withdraw my money i open a tacket with otet teams they said after 24 hr will complete it And now 30 H but he say please waiting...
Exposure
2024-09-12
FiboMen
Portugal
I started trading in that broker until the conditions changed and I decided to withdraw my money. After weeks they did not make a withdrawal or my deposit. Can anybody help me?
Exposure
2023-12-19
FX4255247862
France
Fraudulent broker that has no live support, no answer to emails. a complete scam i lost 2000$ in this broker
Exposure
2023-12-19
adi2326
Iran
I want to share my 5-month experience of working with this broker. In my opinion, everything a trader needs to work with a reliable broker can be found in Otet. Things like fast deposits and withdrawals, 24-hour support, and various trading accounts that allow you to start trading with the smallest amount or even without commissions. I’m really satisfied and I think I’ve finally found my favorite broker.
Positive
2024-09-30
FX3561622157
Turkey
I’ve been working with this broker for a while now, and I’m very satisfied with their customer support. They’ve always been quick and effective in responding to any questions or issues I’ve had. I would recommend them to anyone looking for a reliable broker.
Positive
2024-08-23
FX1403271700
Turkey
Ayo, gotta give props to Otet Market—they straight-up fire. I’ve rolled with a bunch of brokers, but these homies are on another level. No cap, they keep it real—no bots, just real folks who get what’s good. Fast trades, hella solid support, and they ain’t on no sketchy business. For real, if you ain't rockin’ with Otet Market yet, you sleepin’. They’re the GOAT in the game, no doubt🌟
Positive
2024-08-20
FX2279496982
Turkey
Over the past three months with this broker, I started with a demo account and found it to be a valuable experience. The low spreads and fast order execution on my MetaTrader account have led to profitable trades, and overall, I’ve been very satisfied
Positive
2024-08-20
FX5392865592
Singapore
I've been using Otet Market for a while now, and I must say, I'm thoroughly impressed with their services. From seamless account setup to intuitive trading platforms, they've made my trading experience incredibly smooth. Their customer support team is always responsive and helpful whenever I have questions or concerns. Overall, I highly recommend Otet Market to anyone looking for a reliable broker with excellent services.
Positive
2024-06-07
FX2957316853
Singapore
Otet Market is a reliable broker that caters to the Arab community, offering robust support and assistance whenever needed. I appreciate their commitment to Arab nations and the attentive support team, making trading a smooth and enjoyable experience
Positive
2024-06-07
FX3561430512
Singapore
Partnering with otet is one of the best decision I made as an IB partner. They offer competitive commission, dedicated account manager that's very supportive, fast withdrawal. I really enjoy using otet
Positive
2024-06-07
FX3300140720
Canada
As an experienced trader, I have chosen to engage with Otet Markets as my preferred brokerage platform. This decision is primarily influenced by their competitive advantage in offering low spreads and minimal commissions, coupled with the provision of high-quality services.
Positive
2024-06-07
smart 9710
Italy
Very Unfair ratings here; I Hold an account with them for 9 months. Every time i contacted support, they are well trained, very polite and helpful. The platform is up and running on both my phone and MT5. [Excellent cross integration between MT5 and their website.] The bonus scheme seems straight forward. The Islamic account is the best Islamic account in the whole industry. Really well done Otet Market for it. You guys deserve 7 stars and keep up the good work!
Positive
2024-06-07
FX1475227903
Nigeria
trading crypto without issues, spreads are good. Withdrawals are quick via crypto. should add more crypto instruments for trading but overall good experience.
Positive
2024-06-07
FX3882964407
Nigeria
according to my experience with this broker everything it good . just speed of implement order is very slow compared with other brokers
Positive
2024-06-07
FX3493178324
Nigeria
OtetMarkets offers an outstanding trading experience with a legal license, making it a reliable choice for traders. It provides two versatile trading platforms, TradingView and C-Trader, catering to different preferences. The variety of tradable assets is impressive, including indices, cryptocurrencies, stocks, forex, and commodities, ensuring ample opportunities. One of its highlights is the competitive commission structure, allowing traders to keep more of their profits. Additionally, the tight spreads contribute to cost-efficiency in trading. The superb customer support team is always there to assist and ensure a smooth journey. Otet Markets excels in speedy fund deposits and withdrawals, saving traders valuable time. With a comprehensive range of features and top-notch services, it stands out in the market, making it an excellent choice for both beginners and experienced traders.
Positive
2024-06-06
FX5203391812
South Africa
Customer live service is very important for my needs today. Otet Market was able to assist me in the clarity regarding my concerns and questions i needed answeres to; this was a great experience today to have a personal assistance that is knowledged in otet services; and who was able to assist me with my concerns. Chat is helpfull but life is best when one requires clarity to undersatnd the services that are provided by Otet Market , when reading is too complex. life service by Otet is very much appreciated 100%. I am very thank full for otet assistance today.
Positive
2024-06-05
FX2134951096
United Arab Emirates
Firstly much appreciation to the persons who I saw them talking about This broker on their social media page. I gave the brokerage a try and it looks very attractive to me, seems I'll continue using them, I can say one of the best in the FX industry. Go Otet! Go Otet!!
Positive
2024-06-05
FX3552001676
Singapore
It's very hard for me to change a trading broker. But ever since I started using otet Market I'm thinking of continuing using the broker. So far I've been trying them for over a Month now and their services is reliable to me no issues, and the spread is amazing compared to other broker I've use.
Positive
2024-06-04
FX3495091483
Singapore
Otet Market was very helpful and insightful. Although my issue was beyond their control, I still felt they did their best to help and ensured I had the information I needed to proceed. Thank you for your assistance
Positive
2024-06-03
FX2671595901
Canada
The support person was very polite, efficient, and quick to find and explain the source of the problem I was having with my account. I was told what needed to be done for the restriction to be lifted from my account and promised that once my reply was received, my case would be expedited.
Positive
2024-06-03
FX3205472864
Nigeria
Trading with Otet Market has been a fantastic experience from day one. Their platform is incredibly user-friendly, which was a huge relief for me as a beginner trader. I've also been impressed by their range of assets and the quality of their customer support. Whenever I've had a question or encountered an issue, their team has been quick to respond and assist. Overall, Otet Market has exceeded my expectations, and I would highly recommend them to anyone looking for a reliable and trustworthy broker.
Positive
2024-05-31
FX3813312398
Germany
With two years experience in the trading industry, Over the past three months I've usung otet for my trading activities and i have a great experience using the brokerage, the user interface, the trading condition and the most important thing is their customer support team once I've an issues with an hour it will be resolve
Positive
2024-05-31
Mohammed Edelbi
Turkey
I was initially hesitant about Otet because of some negative comments. As a trader with over 7 years of experience, I understand the competitive nature of the financial market, especially for new brokers. However, after giving Otet a try, I was impressed with their easy deposit/withdrawal system. Overall, I'm happy with my experience with Otet and I'm currently enjoying their gold challenge and the prizes seem very attractive. It's too early to say if they'll become one of the largest brokers, but I recommend checking them out for yourself and not relying solely on negative comments. There's always the possibility some negativity might stem from market competition.
Positive
2024-05-30