Reported as a scam / unregulated
Why FXOTP is on the register
FXOTP claims to be a forex company registered in Saint Lucia with registration number 2023-00396, operated in Dubai, U.A.E., which offers forex trading services to clients worldwide. Upon investigation, we found that Fxotp Ltd is registered with the International Financial Centre (IFC) in Saint Lucia, an International Business Companies Registry that doesn’t license forex trading brokerage activities. It is critical to note that this mere registration doesn’t mean being licensed to carry on forex trading activities. The financial watchdog of St. Lucia, Financial Services Regulatory Authority (FSRA) has stated that forex trading activities are not licensed there. Without any other valid financial licenses, FXOTP’s financial services for forex trading are not legitimate. However, FXOTP is also not authorized and regulated by the DuBai Financial Services Authority (DFSA), the Central Bank of U.A.E.(CBUAE), the Securities and Commodities Authority(SCA) in the United Arab Emirates. The truth is that FXOTP is not regulated by any regulators. Letting it hold or control investors’money is unsafe, and the money can not be protected by any laws. FXOTP is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.