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OTM Trade -

Score

1.57 /10
Danger

OTM Trade

United States

Scam Brokers

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Clone Firm Indonesia

High potential risk

http://www.otmtrade.com/

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Comparison

Quantity 58

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.43

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

OTM Capital

Company Abbreviation

OTM Trade

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 6
Previous Detection : 2025-04-30
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Survey

Danger

OTM Trade

Indonesia

WikiFX Verification

Exposure

58 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

OTM Trade is allowed by our counter. It attracted investment opportunities in Shanghai Exhibition. Now I’m cheated but there is nowhere to bring my complaints to.

I relied my friend so I invest here but we know nothing about it. It look like a pyramid scheme. I wanna die

FX3623203756
2020-09-10 08:47
Resolved

Fraud platform. Many people were deceived. The broker still tries to maintain stability. Doesn’t have conscience.

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.

FX1994845060
2020-08-28 15:03
Resolved

It induced you to deposit and blocked the investment in the name of money laundering. Unable to withdraw.

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.

12356c
2021-10-21 08:05
Unable to Withdraw

Unable to withdraw

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.

LIUNING
2020-07-01 11:35
OTM Trade · Company summary

Is OTM Trade a Scam？

  • Scam Brokers List

OTM Trade has been listed on WikiFX's Scam Brokers list. The platform operates as a Ponzi scheme. Please be aware of the scam domain as follows:

https://www.otmtrade.com/

  • Regulatory Concerns

OTM Trade is currently regulated by Badan Pengawas PerdagangarBerjangka Komoditi KementerianPerdagangan and Indonesia Commodity and Derivatives Exchangeis but it's been under “Clone Firm” status. Both OTM Trade's licenses are clones implies OTM Trade lacks valid regulation. This means that the broker is not a safe forex broker. We recommend that you look for a regulated broker as an option.

Clone BAPPEBTI
Clone ICDX
  • Scam Exposure

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

User Exposure on WikiFX

As of now, there are 59 pieces of OTM Trade exposure in total. I will introduce 2 of them.

Exposure 1. Can not withdraw

ClassificationUnable to withdraw
Date 2020-07-01
Post CountryHong Kong, China

The user said that the fund became unavailable after it was transferred into Ouli. You may visit: https://www.wikifx.com/en/comments/detail/202007012992880781.html

Exposure 1. Can not withdraw

Exposure 2. Fraud broker

ClassificationOthers
Date 2020-05-30
Post CountryHong Kong China

The user said the leader Wang Fuwen had disappeared and the platform ripped him off. You may visit: https://www.wikifx.com/en/comments/detail/202005298992219853.html

Exposure 2. Fraud broker

User Reviews

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User comment

1

Comments

Write a review

程婕维权
more than one year
Don't trade with OTM Trade! Totally a scam company. They rejected my withdrawal request for various reasons. You can also see on this website that there are still many victims.
Don't trade with OTM Trade! Totally a scam company. They rejected my withdrawal request for various reasons. You can also see on this website that there are still many victims.
Translate to English
2022-12-12 10:19
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