Otet Markets is a Marshall-based Forex broker established in March 2023, providing investors with trading services in forex, metals, energy, stocks and indices. The company's website supports English, Farsi and Arabic as languages of use. In addition, the account registration page on the Otet Markets website is only available in English.
Company background:
The official website of Otet Markets shows that it is registered in the Comoros and Marshallese, but the government websites of the Comoros and Marshallese cannot verify and confirm this registration. However, the Otet Markets website shows that it has a global Legal Entity Identifier (LEI), a query on the LEI Register shows that the information is genuine, and the LEIRegiser website shows that the company is registered in Marshall. In addition, according to the Whois query of the website domain name registration information shows that the company's official website domain name registration on March 6, 2023, the domain name registration time is not more than 1 year ago.
Account Registration:
Otet Markets website information shows that the company provides investors with real accounts, demo account registration links. The way to register a real account is: Click "Open An Account" in the upper right corner of Otet Markets official website, or "Open Account" on the left side of the home page of Otet Markets official website to enter the registration page, select or fill in the name, Email, password, country, phone number and other information as required to complete the real account registration. The registration method of Demo Account is as follows: After entering the registration page of "Demo Account" on the homepage of Otet Markets official website, select or fill in the information such as name, Email, password, country and phone number as required to complete the registration of demo account. In addition, the account registration page on the Otet Markets website is only available in English.
Trading Products:
According to Otet Markets website, the company provides investors with foreign exchange, metals, energy, stocks, indices trading services. However, the official website of Otet Markets only provides specific trading products covered by forex, metals, energy, stocks and indices, and does not provide information on commissions, spreads, minimum trading units, maximum trading units, etc., of specific trading products.
Trading Products:
According to Otet Markets website, the company provides investors with foreign exchange, metals, energy, stocks, indices trading services. However, the official website of Otet Markets only provides specific trading products covered by forex, metals, energy, stocks and indices, and does not provide information on commissions, spreads, minimum trading units, maximum trading units, etc., of specific trading products.
Margin ratio:
Although Otet Markets shows in the "Account type" on the homepage of the official website, the margin (leverage) ratio that the company provides for different account types. However, the Otet Markets website does not provide margin (leverage) ratio information for specific trading products covered by forex, metals, energy, stocks and indices under different account types.
Trading Hours:
The Otet Markets website does not provide trading hours for specific trading products covered by Forex, metals, energy, stocks and indices.
Deposits and Withdrawals:
Otet Markets official website information shows that the company provides investors with VISA, Mastercard, digital currency and other channels and methods of deposit and withdrawal. In addition, the Otet Markets website also provides information on the currencies supported by different deposit and withdrawal channels and methods, fees and deposit and withdrawal times.
Trading Software:
Otet Markets website information shows that the company provides investors with MetaTrader5 (MT5), cTrader two kinds of trading software, Otet Markets offers both types of trading software available on PC (Winodws/MacOS), Web and mobile (IOS/Android). However, the Android version of MT5 and cTrader software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow. In addition, Otet Markets website also provides different trading software, different account types in the minimum deposit amount, margin call ratio, margin (leverage) ratio, commission, spread, forced closing ratio and other differences.
Regulatory information:
According to the Otet Markets website, the company is regulated by the Comoros Financial Supervisory Authority and holds a Marshall Islands financial activity license. However, it is not possible to verify and confirm the regulatory or authorization information obtained by the company through the websites of the financial regulatory authorities of the Comoros and Marshallese.
Summary:
Otet Markets is suspected of fraud. Although a query on the LEI Register website shows that the company has a global Legal Entity Identifier (LEI), the LEI Register website shows that it is registered in the Marshallese is true. However, the Otet Markets website indicates that it is regulated by the Comoros Financial Supervisory Authority and holds a Marshall Islands financial activity license, and regulatory or authorization information obtained by the company cannot be verified and confirmed through the websites of the Comoros and Marshallese financial supervisory authorities. According to this judgment, Otet Markets is suspected of fraud, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
