OT Capital Review
OT Capital is another scam broker which scammed traders in Australia and other locations of the world. It is owned by OT Markets Pty Ltd which has already received warning from Australian Security and Investment Commission (ASIC). They have warned people not to trade with OT Capital. Let us read more about OT Capital Review. This review will help traders in making a decision whether to trade with this company or not.
About OT Capital
OT Capital offers Meta Trader4 trading platform which is a good feature as this is a user friendly terminal, have great charting methods and can be customized. OT Capital claims to offer many types of assets like Currency Pairs, CFDs on cryptocurrencies, indices, stocks, commodities etc. There was no demo account to test the features of this broker and this was the reason why we could not test the platform and its features. OT Capital offers a leverage of 500:1 which is pretty high. Trading on leverage has risks and particularly when the market is highly volatile, the risk is maximum. So, leverage feature should be properly used.
The broker offers three types of trading accounts which are silver, gold and platinum but again the minimum deposit related to these accounts is not specified. This is a weak point of OT Capital broker as the traders can’t choose the accounts based on the minimum deposit for each.
According to the website of OT Capital, the broker is owned by OT Markets Pty Ltd. OT Markets is an operational corporate representative of AGM Markets Pty Ltd. This company allegedly holds a license from ASIC.
Furthermore the official website of OT Capital lacked a lot of information and there were a number of suspicious terms and conditions. Currently their website also seems to be not operational fully. An investigation of their website otmarketsdotcomdotau shows that its homepage shows OT Markets Pty Ltd is in liquidation. This shows that after getting the warnings from ASIC and numerous complaints, they decided to put down the website.
There has been numerous complaints about OT Capital on the web and you many traders have fallen as victims of this scam broker in Australia and other locations of the world. Various review sites also shows a very low trust score for OT Capital.
Is OT Capital scam or legit?
OT Capital claims to be an authorized representative of an ASIC licensed broker. ASIC which is the most trusted regulating authority has issued a warning against OT Capital and its associated companies. This justification is itself enough to prove that the broker is a scam broker. The court order has already restricted the operations of OT Capital in Australia.
Thus your funds are not safe with OT Capital and we do not recommend to trade with the scam broker OT Capital.
If you were scammed by OT Capital in Australia or anywhere, you have the right to get your funds back. File a complaint against this broker with Forex Scams Australia and get help to retrieve your lost money.