OTOFPR LIMITED is a CFD trading platform suspected of fraud. Its official website, otofpr.online, was registered on September 7, 2023. The site primarily offers financial derivative trading services such as forex, metals, crude oil, and indices to retail and institutional clients, but does not provide services to jurisdictions where doing so would violate local laws or regulations.
Company Registration Information and Regulatory Status
Public information on the OTOFPR LIMITED official website indicates that it is an international investment service provider regulated by the Cyprus Securities and Exchange Commission (CySEC: 312/16) and the U.S. Financial Crimes Enforcement Network (MSB ID: 31000209484898). The company has established service institutions in Australia, New Zealand, the United States, China, and other regions, with business operations spanning the globe. It claims to have long-term cooperation with financial investment institutions in over 11 countries.
Upon investigation, the official website of the U.S. Financial Crimes Enforcement Network (FinCEN) shows that the company with MSB ID 31000209484898 is OTOFPR LIMITED. However, FinCEN's main mission is to combat money laundering and related crimes; it does not directly regulate financial derivative trading.
Moreover, the Cyprus Securities and Exchange Commission (CySEC) website indicates that the company with license number 312/16 is Royal Financial Trading (Cy) Ltd, and the domain registered with CySEC is www.oneroyal.eu, not otofpr.online.
Therefore, OTOFPR LIMITED is, in fact, an unregulated fraudulent broker website.
Trading Products
OTOFPR LIMITED claims to offer a variety of trading options across multiple financial products, including forex, indices, metals, and crude oil.
- Forex: This is the global market for currency exchange transactions, where investors profit from buying and selling currency pairs (e.g., USD/EUR). The forex market is highly volatile, influenced by international economics, interest rate policies, and geopolitical factors.
- Metals: These primarily include precious metals (such as gold and silver) and industrial metals (like copper and aluminum). Precious metals are often considered safe-haven assets, with prices influenced by global economic conditions, inflation, and market sentiment; industrial metals are driven by global industrial production and supply-demand changes.
- Crude Oil: Crude oil is the world's fundamental energy resource, with prices influenced by global supply and demand, geopolitical events, natural disasters, and policies of oil-producing countries. The crude oil market is highly volatile, requiring investors to stay abreast of relevant news and market dynamics.
- Indices: Indices represent a collection of stock prices from particular markets or sectors, such as the S&P 500 or the Dow Jones Industrial Average. Investing in indices means buying into a basket of stocks, thus spreading risk. Index prices are mainly affected by macroeconomic data, corporate performance, and market sentiment.
Account Opening Process
OTOFPR LIMITED account opening process:
- Open otofpr.online and click "OPEN REAL ACCOUNT" on the homepage or the top right corner to enter the account registration page.
- Fill out the required information including name, phone number, email address, and set a login password. Then upload both sides of your ID and submit the application form.
- Once the application is submitted, the account will be successfully registered. Upon login, further KYC verification is required before depositing funds and commencing trading.
Trading Account Information
The OTOFPR LIMITED website does not disclose information related to spreads, trading leverage, account types, trading commissions, minimum/maximum trading volume, maximum position/order volume, margin call/stop-out levels, minimum price increments, or contract sizes.
Trading Platform and Deposits/Withdrawals
OTOFPR LIMITED offers a proprietary trading platform named OTO PRO, available on both desktop and mobile. However, the authenticity and legitimacy of this platform have not been verified. Additionally, the broker does not clearly disclose supported deposit/withdrawal methods, fees, or minimum deposit/withdrawal amounts on its official website.
Summary
Traderknows reminds investors that OTOFPR LIMITED (otofpr.online) is actually an unregulated fraudulent website that uses stolen regulatory information from other companies. The website also provides minimal contact information, only allowing communication via email.
Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation for investment and trading activities to avoid unnecessary financial losses.
