OTProfits is a CFD Broker that features on its trading CFDs on Forex, Shares, Indices, Commodities, Cryptocurrencies. OTProfits is operated by Habonix Solutions Ltd, an off-shore corporation that is regulated and overseen by the Seychelles Financial Services Authority (FSA). The broker charges on a popular currency pair EUR/USD a minimum spread of N/A pips*. Trading with real funds is possible with a minimum deposit of $N/A (or equivalent in other currency). The OTProfits website is available in English, Spanish, Portuguese, Russian.
Note: The broker does not accept new traders yet. According to their homepage, they will launch soon.
What do we cover in our OTProfits Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.OTProfits.com
- Leverage: up to 1:30
- Instruments: CFDs – Forex, commodities, stocks, indices, cryptocurrencies
- Minimum deposit: $N/A
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Credit and debit cards (Visa/MasterCard)
OTProfits Trading Platform
For FX and CFD trading, OTProfits offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to over N/A trading instruments.
OTProfits Fees (spreads)
As any other CFD broker, OTProfits charges a spread fee. For the most current spread charges, please visit the OTProfits official website. Here is a spread comparison table that contrasts OTProfits spreads with popular industry competitors.
*Spreads recorded on 23.01.2020 at 20:10 GMT. Data about spreads were taken either from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Habonix Solutions Ltd is authorized and regulated by the Seychelles Financial Services Authority (FSA), license number SD014
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce OTProfits.
- Weak regulatory framework, not regulated in Europe nor Australia
To sum up the OTProfits Review
OTProfits adheres to strict guidelines of the FSA. The broker unfortunarely isn’t regulated by any regulatory body in Europe or Australia.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with OTProfits.
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