Is OT Capital a scam broker?

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OT Capital owned by OT Markets Pty Ltd. located in North Victoria Australia. They started their operation in 2017. They are licensed and regulated by ASIC but now their regulation is in trouble.

They offer traders and investors MetaTrading4 trading platform which is available on desktop, laptop, and web-based mobile version. The trading platform gives traders the flexibility they need to oversee their respective trades which is efficient and easy to use. They are new Forex/CFD’s and cryptocurrency brokers. There is a demo account where traders and investors can practice and train themselves to acquire the trading skills before the actual trading.

Apart from above assets, the trader can trade in bitcoin, stocks, market indexes, oil, and gold. They have nearly 200 underlying assets to trade in.

OT Capital offers three account types. Trading conditions at online brokerage depend on account type one has opted for. Types of account are Silver, Gold, and Platinum.

For customer’s education, there are various educational tools available like online videos, e-books, tutorials, calculators and more.

OT Capital is a scam broker and is a trading brand for OT Markets Pty Ltd, as commented on one of the sites is now no longer CAR (Corporate Authorized Representative) of AGM Markets Pty Ltd. They have ceased taking deposits that is the clients will no longer be able to deposit funds into their OT Capital trading account. They have also ceased offering trades and clients will no longer be able to enter a trade with OT Capital.

Those clients who have open trade are advised to close the trades and OT Capital will let them know how to close their open trades in their future correspondence. And those clients who wish to withdraw funds from their accounts are requested to follow the process which is explained in revised withdrawal policy.

If you have deposited through Visa or Master card you can chargeback. Contact your card issuer. In case if you are not able to put up a strong case you can contact MyChargeBack who will help and guide you step by step to recover your money. You will have to insist that you did not receive services as promised or advertised.

The rot in the company started long back but was not visible to general public and in future OT Capital scam was bound to happen. Mr. M in his comment on one of the site authored his story. The account manager installed MetaTrader4 on his system and he started trading with $ 500 but was pressurized by the company to increase the amount as his initial investment was too small. He transferred money unaware that TeamViewer was still in use. He was instructed to use a larger multiplier to increase profit but actually, he was making a loss each time he traded. He lost nearly $40000 just in the process to regain his lost amount. The company was only concerned with their profits only and did not care much about the clients’ money and trades. The conduct of the company was unprofessional and they did not disclose that they were front of a Cyprus based company. He has sent complaints to ASIC and ACCC.

OT Capital is a scam broker and if you have been scammed online than you can contact MyChargeBack at your earliest even before filing chargeback to your respective card companies. MyChargeBack will help you draft the complaint in a very effective way and your case will be on solid foundation towards recovery of your funds.

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