OTFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-12 11:56

Abstract：OTFX is a broker, established in Australia within the past 1-2 years. It offers six types of trading products and provides its proprietary OTFX Platform along with five deposit methods. However, its regulation is suspicious clone. It has a minimum deposit requirement of $50, and lacks transparency regarding account types and fees.

　　Note: OTFX's official website: https://www.otfx.com/#/ is currently inaccessible normally.

OTFXReview Summary
Founded	1-2 years
Registered Country/Region	Australia
Regulation	Regulated by ASIC (Suspicious Clone)
Market Instruments	Forex, Indices, Stocks, Bonds, Commodities CFDs, and Cryptocurrencies
Demo Account	/
Trading Platform	OTFX Platform
Min Deposit	$50
Customer Support	Social media platforms (Twitter, Telegram, Facebook, and Instagram)

OTFX Information

　　OTFX is a broker, established in Australia within the past 1-2 years. It offers six types of trading products and provides its proprietary OTFX Platform along with five deposit methods. However, its regulation is suspicious clone. It has a minimum deposit requirement of $50, and lacks transparency regarding account types and fees.

Pros and Cons

Pros	Cons
Offers six types of trading products	Suspicious clone regulation
Provides OTFX Platform	Minimum deposit of $50
Offers five deposit methods	Lacks account and fee information

Is OTFX Legit ?

　　OTFX is regulated by the Australia Securities & Investment Commission (ASIC) under license number 670 543 772. However, its current status is Suspicious Clone.

What Can I Trade on OTFX?

　　OTFX offers six types of trading products: Forex, Indices, Stocks, Bonds, Commodities CFDs, and Cryptocurrencies.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Stocks	✔
Bonds	✔
Commodities CFDs	✔
Cryptocurrencies	✔

Trading Platform

　　OTFX offers the OTFX platform, accessible through web, desktop, and mobile devices.

Trading Platform	Supported	Available Devices	Suitable for
OTFX platform	✔	Mobile and Desktop（Windows & macOS）	Experienced Trader

Deposit and Withdrawal

　　OTFX supports a minimum deposit requirement of $50. It supports several deposit and withdrawal methods, including digital currencies, online banking, bank wire transfers, credit cards, and Skrill. Withdrawals can be made via credit or debit cards or bank wire transfers, with processing times typically ranging from one to two working days for online methods, and three to five working days for international wire transfers.