About OTM Trade
Company Overview
OTM Trade is a forex and derivatives broker that claims to be regulated by Indonesian authorities. The broker lists licences from the Commodity Futures Trading Regulatory Agency (BAPPEBTI) and the Indonesia Commodity and Derivatives Exchange (ICDX). However, independent verification shows that both licences are clones, meaning they are not genuine. This places OTM Trade in a high-risk category.
The broker is registered in the United States at an address in Torrington, Connecticut, and states its founding date as 16 October 2018. Despite the US registration, OTM Trade is not regulated by any US financial authority such as the CFTC or NFA. Its regulatory claims focus solely on Indonesian bodies, which have been flagged as cloned.
Regulatory Status and Risk Assessment
As of the latest review, OTM Trade holds two licences on file: a Forex Trading Licence (EP) from BAPPEBTI and a Derivatives Trading Licence from ICDX, both in Indonesia. However, our cross-checking against official registers confirms that these licences are clones. This means the broker is not operating under valid regulatory oversight.
For traders, this is a critical red flag. Unregulated or clone-licence brokers offer no investor protection, no recourse in case of disputes, and no guarantee of fund segregation. FXCanary's scam risk score for OTM Trade is 85 out of 100, indicating a severe risk. We strongly advise traders to avoid depositing funds with this broker and to seek regulated alternatives.
Available Information and Transparency
Publicly available information about OTM Trade is extremely limited. The broker's official website (otmtrade.com) is the primary source of its claims, but we have been unable to verify many operational details due to the lack of independent user reviews and third-party analysis.
Given the clone-licence status and the absence of regulatory protection, the lack of transparency is a significant concern. Reputable brokers typically provide clear licensing details, audited financial statements, and verifiable corporate records. OTM Trade fails on all these fronts, increasing the likelihood that it may be operating as a dubious or fraudulent entity.
Target Audience
Based on the available information, OTM Trade appears to target retail forex and derivatives traders, particularly those in regions where Indonesian regulation might be trusted. The broker likely attracts traders looking for leveraged trading opportunities in currency pairs and commodity derivatives.
However, given the severe risk profile, this broker is not suitable for any trader seeking a safe and regulated trading environment. It is particularly dangerous for beginners who may not be able to identify the warning signs of an unregulated or clone-licensed broker.
Overview compiled by FXCanary from regulatory records and public data. full OTM Trade review