✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
Analysis on Otto Forex
➡️ In this section we will analyze Otto Forex (also called with the name: ottofxtrading.com), It's about a Forex, Cryptocurrency and CFD broker. Is Otto Forex really recommended to make an investment? Is it better not to invest with this company? Is it a safe broker? Is a gotcha? We will help you determine it. ✅
Now, you can find the following: opinions about Otto Forex ✅, claims, complaints, experiences, analysis of the most important characteristics of this company (updated 2022), and most importantly: Is Otto Forex a safe site? ⛔ Can we trust this company? ✅ Will we be able to withdraw our money? All this and more in this review about this investment company.
️️ Essential information: Who does it belong to? Where is located? Is it a regulated broker?
- ❌ Otto Forex mentions being part of Otto Forex Global Limited.
- ❌ Regarding your location, the company does not mention where it is based.
- ❌ If we analyze your security, we note that Otto Forex does not mention any regulation.
⚠ ATTENTION: Otto Forex is a broker NOT REGULATED. ⚠
📌 Remember: the best option (and the safest) are the regulated brokers, as they must meet very strict requirements. Working with an unregulated broker is very risky. 📌
Account types | Investment platform
Now we go on to analyze the types of account offered by Otto Forex, in this case, we note that it does not offer account types:
La platform to operate that Otto Forex uses is: MT5.
Resources | Website
Here we will examine the different resources and aids for the trader that Otto Forex provides on its website. We believe that the resources and help provided on the website can be a great advantage for the broker.
Otto Forex provides the following help or resources to traders or interested parties: an explanation of the services it offers, market analysis, personal experiences, FAQ section, not much else.
ℹ Another insights about Otto Forex ℹ
🔻 We will leave you some more information in case you want to contact the company, or see its website for yourself. 🔻
- 🌏 Website: ottofxtrading.com | ottoforex.com
- 📞 Telephone number: does not have
- 📧 Email: contact from the website
Maybe you wonder why we review Otto Forex. We make this review and assessment, because we receive different messages and comments asking for the reliability of the company in question. We like to think that our reviews page help investors, providing key information about the company, we disclose information that every investor should know before you are inclined or not, by investing with a company of investment.
You're a representative of this company? We recommend you leave a comment responding to customer concerns.
Valuation on Otto Forex
Ending this section, in our opinion: do we believe that the Otto Forex company is reliable? Should you invest your money with the company? Are they a recommended company? ⭐ 2022 analysis ⭐
❌ After having examined it, we advise you to exercise caution, since it is an illegal company, clearly established to take money from people through tricks and traps. It is not very transparent, since it does not offer legal information, it does not show data about its registration and it also lacks regulation (unregulated company). ❌
⚠ A pocas palabras: doesn't seem like a good idea we suggest to be careful. ⚠
ATTENTION!: in February 2022 FCA added Otto Forex to your list fraudulent financial companies, for acting without authorization. ⛔ WE SUGGEST EXTREME CAUTION ⛔
➡️ Link to FCA February 2022 warning ⚠️
ATTENTION!: in April 2022 CNMV added Otto Forex to your list fraudulent financial companies, for acting without authorization. ⛔ WE SUGGEST EXTREME CAUTION ⛔
➡️ Link to the CNMV April 2022 warning
Our advice: we always recommend working only with duly regulated companies, Isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest? Why invest with an unregulated or poorly regulated broker, when you can invest with a broker regulated by a serious regulator?
📌 Don't forget: one of the few measures that assure customers' money is the broker regulationIn other words, it is probably the most important feature of any broker; HAVE GOOD REGULATION. Good regulation means that there is a authority to which, in case of misunderstandings or problems, customers can file a complaint. 📌
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, too leave a comment on our website with your experience with this broker.
🔻🔻 We leave a vote open so that traders, clients and users of the broker can vote. 🔻🔻
[democracy id = ”3697 ″]
They asked me for more money to recover my investment. They only limited themselves to telling me to finish the order and you can withdraw 105 thousand of an investment of 25 thousand Mexican pesos and for that they ask me for 15 thousand more pesos, how do I recover what I already gave them?
Hello Erika, they will not return it to you, try saying that you have a lot more money and that you want to see if they return it, that you have money from a relative and that you plan to invest it, talk about more than 50.000 usd to make it tempting and maybe they will return it to you something, with the idea of stealing what you have.
They ask me for more money to be able to finish the task and be able to withdraw depending on whether I deposit 15 thousand Mexican pesos, about 900dls I will have a profit of 105 thousand Mexican pesos. I even asked them who pays so much money to invest 15 thousand. And they only limit themselves to sweetening your ears, we are a leading company, we are listed on the stock market, our thousands of clients support us blah blah blah and I told him no that I wanted my money back and mechanically he tells me complete the mission and you will be able to withdraw the 105mi how do I do it? get my money back
Hi Erika, thanks for commenting on Otto Forex. This broker is a SCAM. Do not send them money, they want to get as much money as possible from you with lies, the operations are not real, they do not put the money in the market, they only show it and in the end they tell you that you have lost and they keep it.
If to withdraw your money they ask you for more to pay taxes, fees, legalizations, etc. Do not do it! It is a clear sign that they want to steal your money and they will not return anything even if you pay.
If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.
Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?
To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU
Greetings.
Hello, I think I have been scammed by OTTO FOREX GLOBAL through MT5 and after paying the 20% personal income tax for the withdrawal of funds, now they ask me for a deposit of 10.000 because they consider me a money launderer, something that does not fit me anymore and of course I have not done nor am I going to do.
I have already lost 10.000 euros and I have 28.169 USDT in the account that I cannot withdraw because I always have problems.
What I do?
I am sure that if I pay later there will be more excuses and more requests for money.
I have a lot of screenshots of messages from customer support which is where I think scammers have slipped in posing as a real MT5 service.
One day MT5 suddenly wouldn't open for me after several months with no problems and I think it was at that point that I was interjected to ask for money for withdrawal.
I am accused of something I have not done and they want to solve a crime by giving them more money….
It smells singe to me that's why I've already doubted them.
Hi Anonymous, thanks for commenting on Otto Forex. This broker is a SCAM. Do not send them money, they want to get as much money as possible with lies, the operations are not real, they do not put the money in the market, they just make it look and in the end they tell you that you have lost and they keep it.
If to withdraw your money they ask you for more to pay taxes, fees, legalizations, etc. Do not do it! It is a clear sign that they want to steal your money and they will not return anything even if you pay.
If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.
Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?
To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU
Greetings.
This company is not very transparent, I don't know what to do anymore.
Hi Noemi Barea, thanks for commenting on Otto Forex. This broker is a SCAM. Do not send them money, they want to get as much money as possible with lies, the operations are not real, they do not put the money in the market, they just make it look and in the end they tell you that you have lost and they keep it.
If to withdraw your money they ask you for more to pay taxes, fees, legalizations, etc. Do not do it! It is a clear sign that they want to steal your money and they will not return anything even if you pay.
If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.
Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?
To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU
Greetings.