Is OTM Trade a scam?
Wikilix independent safety report
Yes. OTM Trade was an unlicensed forex operation that collapsed on its clients, and its website otmtrade.com is now gone entirely. We found no trading licence anywhere. A search of the United States…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Broker Summary
What Wikilix has recorded about OTM Trade: its history, the licences it holds, its trading conditions and its fees.
OTM Trade, also marketed under the Chinese name Aomei, was a retail forex and investment brand operated from the United States by OTM Capital LLC, a Connecticut limited liability company registered under number 0865107 at 28 Wysteria Court, Torrington, CT 06790. The brand promoted managed forex trading to investors in China, Indonesia, Malaysia and Taiwan through agent networks and a mobile application rather than through a conventional regulated brokerage.
Regulation. No forex trading licence can be confirmed for OTM Trade in any jurisdiction. The operator promoted itself as supervised by Indonesian commodity futures bodies, but that supervision could not be substantiated and matches the pattern of a firm quoting another company's registration. A United States limited liability company registration is not a licence to accept client deposits or to deal in foreign exchange, and it confers no client-money segregation, no capital requirement and no compensation scheme.
Corporate standing. The State of Connecticut business registry records OTM CAPITAL LLC with the status Forfeited, the result of a failure to file an annual report. The registry also shows the entity registered on 26 June 2006, well before the brand and its website appeared, which is consistent with an existing shell being reused rather than a business built for this purpose.
Offering and platforms. Nothing about account tiers, spreads, leverage, execution or funding channels can be documented: the brand's website no longer resolves, so there is no published trading condition, no account schedule and no deposit or withdrawal policy left to examine.
Who it suits. Nobody. The operating entity is administratively dead, the website is gone, no regulator supervises the business, and the promotional model was based on guaranteed returns and recruitment rather than on trading. Anyone still holding a balance should treat the funds as at risk and preserve transfer records, agent communications and account statements for a police or financial-crime report.
Regulatory Licenses
We have not confirmed any regulation for OTM Trade. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for OTM Trade. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Corporate Network
One legal entity behind the OTM Trade brand.
- OTM CAPITAL LLCdissolvedUnited StatesRegistration 0865107Established Jun 26, 2006Connecticut domestic LLC, company number 0865107; the State of Connecticut business registry records its status as Forfeited for failure to file an annual report.
Company Registration
OTM Trade names OTM Capital LLC as the operating company. We could not confirm that registration on the registry.
- Legal entity
- OTM Capital LLC
- Registration number
- 0865107
- Jurisdiction
- United States
- Incorporated
- Apr 16, 2018
- Registry
- Connecticut Secretary of the State
- Registered address
- 28 Wysteria Court, Torrington, CT 06790, United States
Brokers worth comparing
One other broker on the record shares what OTM Trade offers — its country, regulator, account types or platforms — set beside it on the same measures.
OTM Trade
This recordUnited States · since 2018· OTM Capital LLCWikilix score 0.0RegulationNo RegulationMax leverageNot recordedPlatformsNot recordedLicencesNot recordedBingX
United States · since 2018Wikilix score 20.0RegulationRegulatedMax leverage1:1000Platforms2LicencesNot recorded
Frequently Asked Questions
Common questions about OTM Trade
Stop sending money immediately, and in particular refuse any demand for a fee, a credit-score top-up, a tax, a bond or a certification payment as a condition of withdrawal. Preserve bank records, transfer receipts, chat logs with your introducer and screenshots of your account, then file a report with your local police and financial regulator.
The brand and its website appeared around April 2018. The Connecticut company behind it, however, was registered on 26 June 2006, which suggests a pre-existing shell was repurposed rather than a company formed to run the business.
It is not available anywhere. The brand no longer has a live website or a functioning legal entity, so there is no onboarding to accept a client from any jurisdiction.
There is no working withdrawal channel. The website is gone and the operating company is forfeited on its state registry. The realistic route is a report to your national police or financial-crime unit and to the bank or payment provider that processed your transfer.
No platform can be confirmed. Clients described being directed to a branded mobile application rather than to a mainstream terminal, but no platform, server name or download link is documented from a source we can stand behind.
Neither is documented. No spread table, leverage cap, commission schedule or execution model was recoverable, because the operator published nothing that remains reachable.
No minimum deposit is documented. The brand's website is offline and no account schedule, deposit table or fee list survives on any source we can cite.
The brand was promoted as supervised by Indonesian commodity futures authorities, but that claim could not be substantiated and carries the hallmarks of a firm quoting registrations belonging to another company. No in-force Indonesian permission for this operator could be established.
No. The domain www.otmtrade.com no longer resolves in DNS. There is no live site, no client portal and no published document set to inspect.
Our assessment is that it is. There is no verifiable licence, the operating company is administratively dead on its own state registry, the website no longer exists, and the brand was sold through agent recruitment and guaranteed-return promises rather than through documented trading conditions. Treat any balance as unrecoverable without legal action.
OTM Capital LLC, a Connecticut limited liability company, number 0865107, registered at 28 Wysteria Court, Torrington, CT 06790. Its status on the State of Connecticut business registry is Forfeited, following a failure to file an annual report.
No. No forex trading licence can be confirmed for OTM Trade or for its operator OTM Capital LLC in any jurisdiction. The only corporate record that exists is a Connecticut limited liability company registration, and a company registration is not permission to accept client deposits or to deal in foreign exchange.
Comments
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