Prime OTP Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-06 16:19

Abstract：Registered in Mauritius, Prime OTP is an unregulated forex broker offering forex trading instruments. The broker also provides a standard and raw account. The minimum spread is from 0.2 pips and the minimum deposit is $100. Traders can access the MetaTrader 5 platforms with 24/5 customer support. Customer support is available via email, Facebook, Instagram, Twitter, LinkedIn, YouTube, and Telegram. Prime OTP Ltd is still risky due to its unregulated status.

Prime OTPReview Summary
Founded	2024-01-12
Registered Country/Region	Mauritius
Regulation	Unregulated
Market Instruments	Forex/Commodities/Indices/Shares/Metals/CFDs
Demo Account	❌
Leverage	Up to 1:500
Spread	From 0.2 pips
Trading Platform	MT5 (Windows/Mac/Android/iOS)
Min Deposit	$100
Customer Support	Email: info@primeotp.com
	Online chat
	Social Media: Facebook, Instagram, Telegram, LinkedIn, YouTube, Twitter

Prime OTP Information

　　Registered in Mauritius, Prime OTP is an unregulated forex broker offering forex trading instruments. The broker also provides a standard and raw account. The minimum spread is from 0.2 pips and the minimum deposit is $100. Traders can access the MetaTrader 5 platforms with 24/5 customer support. Customer support is available via email, Facebook, Instagram, Twitter, LinkedIn, YouTube, and Telegram. Prime OTP Ltd is still risky due to its unregulated status.

Pros and Cons

Pros	Cons
24/5 customer support	Unregulated
Accessible official website	No 24/7 customer support
MT5 available	Demo account unavailable
Leverage up to 1:500

Is Prime OTP Legit?

　　Prime OTP is not regulated, even though it claims to be regulated by the Financial Services Commission(FSC). However, an unregulated broker is not as safe as a regulated one.

What Can I Trade on Prime OTP?

　　Traders can choose different investment directions because the broker provides traders access to forex, commodities, indices, shares, metals, and CFDs.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Shares	✔
Indices	✔
CFDs	✔
Metals	✔
Cryptocurrencies	❌
Stocks	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　Prime OTP has two account types: Standard account and Raw account. Traders who want to have both low spreads can choose to open a raw account.

Account Type	Standard	Raw
Spreads	From 1.3 pips	From 0.2 pips
Commission	No commission	$7

Prime OTP Fees

　　The spread of the standard account isfrom 1.3 pips, and the spread of the raw account is from 0.2 pips. The commission of the standard account is 0, and the commission of the raw account is $7. The lower the spread, the faster the liquidity.

Leverage

　　The maximum leverage is 1:500meaning that profits and losses are magnified 500 times.

Trading Platform

　　Prime OTP cooperates with the authoritative MT5 trading platform available in Windows, Mac, Android, and iOS versions. Traders with rich experience are more suitable for using MT5.

Trading Platform	Supported	Available Devices
MT5	✔	Windows/Mac/Android/iOS

Deposit and Withdrawal

　　The minimum deposit is $100. Deposit and withdrawal methods include USDT TRC20, Skrill, Neteller, WebMoney, Local Transfer, and Bank Transfer.