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http://www.otmtrade.com/
Website
MT4/5 Identification
Full License
Single Core
1G
40G
More
OTM Capital
OTM Trade
Indonesia
Pyramid scheme complaint
Expose
The leader Wang Fuwen is disappeared. The platform ripped me off.
I relied my friend so I invest here but we know nothing about it. It look like a pyramid scheme. I wanna die
It induced you to deposit and blocked the investment in the name of money laundering, then asked for depositing to unlock the account. Unable to withdraw.
The platform gave no access to my withdrawal with excuse of wrong bank card, asking me to pay 10% of the fund to modify the information. Then it asked for another 60 thousand RMB since my credit score has decreased due to the wrong information. After that, I was still asked to pay 100 thousand RMB for certification to an isolated account! It is a simply scam! Hope relevant department could see to this master! The platform is still cheating on clients!
It is one of the scams in Indonesia, which give no access to withdrawal.
Scam OTM Trade gave no access to withdrawal by grinding excuses! Don’t be scammed. I was cheated of 200 thousand RMB.
After the fund was transferred into Ouli, it became unavailable. The leader said it would go to Indonesia for verification after the virus. Currently, I could make withdrawals.
I traded normally and then applied for the withdrawal. The platform gave no access to my withdrawal with excuse of wrong bank card, asking me to pay 10% of the fund to modify the wrong information. Then it asked for another 60 thousand RMB since my credit score has decreased due to the wrong information. I needed to raise 20 score, with 3000 RMB per score. After that, I was still asked to pay 100 thousand RMB for withdrawal. Otherwise, high rollover would generate and all fund would be froze. But my card could receive out-boundary remittance after verification. Thus, I was scammed by the platform. Meanwhile, the platform hasn’t registered company in China.
Clients from Chinese mainland, Malaysia, and Taiwan cannot withdraw fund.
Please be careful about the format of the platform and avoid being cheated. The customer service inveigles clients to pay a fee.
It is simply a Ponzi Scheme, in which both fund and profit are unavailable. When I asked for explanation, I was removed off the group. Please call the police as soon as possible, or your fund will be doomed.
The agent on the Wechat claimed that they had professional teachers, who could realize 0 risk and high profit through data-based forex trading, and induced clients to deposit. The teacher would made you profit firstly, with balance leaping from 30 thousand RMB into 300 thousand RMB. Then they would induce clients to add fund, but gave no access to withdrawal, manipulating clients’ accounts through backstage, blaming it on clients and asking for another 40000 RMB for modification. After doing so, I still couldn’t withdraw 1270 thousand RMB or so. The platform said that the profit was too high and asked for 86536.32 RMB as an individual tax. The customer service ensured that the fund would be received as long as I paid the fee. They didn’t replied to me within 24 hours, thus, another rollover generated. At that time, I realized that it is a simply a scam.
All data in OTM Trade has been deleted. MT4 is closed. Call the police as soon as possible.
Fraud platform. Unable to withdraw. I was kicked out from the WeChat group by the broker as they didn’t let me tell the truth. False advertising.
OTM Trade , with its agent and data teachers, inveigled clients to open accounts with high returns and manipulated their accounts maliciously. Then they also closed position compulsorily and charged high rollover. The following pics are the fake record by agent and the faced of the APP. Don’t be cheated. I have been scammed of 200 thousand RMB.
The agent on the Wechat claimed that they had professional teachers, who could realize 0 risk and high profit through data-based forex trading, and induced clients to deposit. A client deposited 50000 RMB and profited with the guidance of technical teacher through Miliao APP. Then my balance leaped from 58 thousand RMB to more than 510 thousand RMB. But I was asked to pay margin due to the wrong information. Then the credit score was influenced by it, thus, I needed to raise 20 scores with 3000 RMB per score. After doing so, the client sill couldn’t withdraw fund.The customer said that the client hadn’t opened the international business receipt, asking for 100 thousand RMB for verification fee. When I inquired the bank, they said my card could received out-boundary remittance. When I asked the service of Citibank again, they had no specified stipulation to show, At which time, I realized that I was scammed of 170 thousand RMB.
General Information & Regulation
OTM Trade is online forex and CFD broker. The company behind OTM Trade is OTM Capital registered in Indonesia. Since OTM Trade is not subject to any regulation, we would still advise caution when dealing with unregulated brokers.
Markets Instruments
The selection of trading products available for clients includes currency pairs, CFDs on precious metals, indices, as well as commodities.
Minimum Deposit
While the minimum requirements for all account types at OTM Trade are very low, $100. Although this amount is reasonable for most regular traders, given the fact that this broker is not subject to any regulation, traders are not advised to register trading accounts here.
Leverage
OTM Trade provides a maximum leverage of 1:100. Since leverage can amplify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads at OTM Trade are variable. While usually the spreads are slightly higher than the ones offered other accounts, the company does not provide much information on them. Our testing with the platform revealed spreads starting from 1.2 pips on EUR/USD.
Trading Platform Available
OTM Trade offers MetaTrader4 (MT4) as their trading platform. This is the most popular solution, which is preferred by many brokers. It is also admired by lots of traders, mainly for the outstanding charting capabilities and the add-ons which are available. At the MQL marketplace, a broker independent online store, you can test, loan and purchase newly developed technical indicators and automated trading robots (better known as Expert Advisors).
Deposit& Withdrawal
In terms of payment methods available with OTM Trade, this broker does not make this part clear. In most cases, most broker would supports traders funding their account through Visa, MasterCard, Wire transfer, as well as Skill and Neteller.
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