OTKRITIE
Pros and Cons
Pros
- Regulated by CySEC
- Comprehensive services including investment advisory and asset management
- Trading platforms: Open Key and QUIK
- Competitive trading rates for US and Eurobond transactions
- Market Maker (MM) license for diverse trading options
Cons
- Limited regulation (only CySEC)
- Few trading instruments available
- No MetaTrader support
- Lack of educational resources
- High withdrawal fees
Basic Information
User Reviews
OTKRITIE Overview
OTKRITIE is a forex broker founded in 2015 and headquartered in Cyprus. The company operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC), holding license number 294/16. With its regulatory framework, OTKRITIE aims to provide a secure trading environment for investors and traders alike, ensuring compliance with established financial standards and practices.
Is OTKRITIE Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Investor Compensation Scheme |
Is OTKRITIE Regulated and How Are Client Funds Protected?
OTKRITIE is a regulated broker operating under the oversight of the Cyprus Securities and Exchange Commission (CySEC), holding a Market Maker license with license number 294/16. This regulatory status provides clients with a level of assurance regarding the broker’s compliance with industry standards. Client funds are protected through the implementation of segregated accounts, which ensure that client deposits are kept separate from the broker’s operational funds. Additionally, OTKRITIE participates in the Investor Compensation Scheme, offering further protection to clients in case of insolvency. Overall, these measures contribute to a safe trading environment, aligning with best practices for investor protection.
Trading Products and Services
What trading instruments does OTKRITIE offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | 50+ |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
OTKRITIE provides a diverse array of trading tools across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different trading styles and preferences, whether you’re a beginner looking to explore the markets or a seasoned trader seeking advanced strategies. By offering a wide selection of products, OTKRITIE enhances portfolio diversification and allows traders to implement flexible trading strategies tailored to their individual goals. The platform’s comprehensive coverage of various asset classes ensures that users have the resources they need to navigate the financial landscape effectively.
Account Types and Trading Conditions
What Account Types and Fees Does OTKRITIE Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low spreads, user-friendly platform | Suitable for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Corporate Account | Corporate clients and institutions | Customizable services, dedicated support | Requires corporate documentation |
| Islamic Account | Clients seeking Sharia-compliant trading | Swap-free, tailored for Islamic finance | Must provide relevant documentation |
| Demo Account | All traders | No risk trading, practice environment | Unlimited access for practice |
Account Opening Process
Opening an account with OTKRITIE involves several straightforward steps. First, applicants must provide personal information, including their name, contact details, and date of birth. Next, employment details and financial information, such as income and trading experience, need to be submitted. Identity verification is crucial; therefore, clients must provide a valid ID and proof of address. Once the initial account is set up, users have the option to upgrade to a professional account later, depending on their trading volume and activity.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for majors |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates for trading |
| CFDs (Stocks) | 0.1 | $0.02 per share | Access to global markets |
| CFDs (Indices) | 1.5 | $0.1 per contract | Varied index offerings |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
OTKRITIE may charge several additional fees, which include deposit and withdrawal fees depending on the method used. There may also be inactivity fees if the account remains dormant for an extended period. Platform usage fees are applicable for certain features, and overnight interest (swap rates) may apply to positions held overnight. Currency conversion fees could also be incurred for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does OTKRITIE Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | 2FA, symbol lookup, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| Web Version | Windows, macOS, iOS, Android | Encryption, symbol lookup, one-click trading, push notifications | Demo accounts |
| Mobile App | iOS, Android | Biometrics, market search, price alerts, push notifications | API interfaces |
OTKRITIE provides a range of trading platforms, including MT4/MT5, which cater to both beginner and advanced traders with extensive tools for analysis and order execution. The web version supports a variety of devices and ensures secure logins and fast order execution. The mobile app enhances trading convenience, offering real-time alerts and an efficient search feature for market symbols. Overall, OTKRITIE emphasizes secure access, responsive trading capabilities, and valuable additional services.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1–2 business days | No platform fee, 0.5% third-party fee | Min 100, Max 15,000 EUR/day | EUR, USD, RUB |
| Bank Transfer (Domestic) | Same business day | No fees | Min 1,000, Max 1,000,000 RUB | RUB |
| QIWI Wallet | Instant | No platform fee, 2% e-wallet charge | Min 500, Max 30,000 RUB/day | RUB |
| WebMoney | Instant | No fees | Min 100, Max 20,000 RUB/day | RUB |
| PayPal | Instant | No platform fee, 3% PayPal fee | Min 50, Max 5,000 USD/day | USD |
Minimum Deposit
OTKRITIE requires a minimum deposit of 1,000 RUB for domestic accounts and 100 EUR for international accounts. The minimum deposit may vary depending on the payment method chosen, with specific limits applied to different account types.
How to Withdraw
To withdraw funds from your OTKRITIE account, follow these steps:
- Log in to your OTKRITIE account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method from the available options.
- Enter the withdrawal amount, ensuring it falls within the specified limits.
- Confirm your withdrawal request and submit.
- You will receive a confirmation email, and the processing time will begin as per the selected method.
Customer Support
OTKRITIE Customer Support Overview
Support Channels
OTKRITIE offers multiple contact methods to ensure customer support is accessible and effective. Clients can reach out via:
- Email: For general inquiries, customers can email clients@otkritie-broker.com.
- Live Chat: Unfortunately, OTKRITIE does not currently provide live chat support.
- Telephone: Clients can contact OTKRITIE at +357 25023870 for immediate assistance.
- Social Media: OTKRITIE maintains a presence on various social media platforms, where customers can follow updates and reach out for help.
Service Availability
OTKRITIE’s customer support is available 24 hours a day, five days a week (24/5), ensuring that assistance is readily accessible during standard business hours. Additionally, the support team is multilingual, providing help in several languages, including English and Greek.
Additional Resources
OTKRITIE enhances its customer service with various educational resources, including:
- Video tutorials to guide customers through using the trading platforms effectively.
- Webinars that cover market analysis and trading strategies.
- Regular market analysis reports to keep clients informed of market trends.
- Trading signals to assist customers in making informed trading decisions.
OTKRITIE is committed to providing quality customer service, ensuring that clients have the support they need to navigate their trading experience successfully.
Frequently Asked Questions
Yes, OTKRITIE is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 294/16. This ensures that the broker adheres to strict regulatory standards for financial services.
OTKRITIE offers competitive trading conditions, including a Trader rate for US market participants at $0.01 per share and an Investor rate for Eurobond and structured note transactions at 0.24% of trade turnover. They provide access to various financial instruments through their Open Key and QUIK trading platforms.
OTKRITIE prioritizes fund security by maintaining client funds in segregated accounts, complying with regulatory requirements, and employing strong cybersecurity measures to protect client information and transactions.
OTKRITIE provides customer support via email at infocyprus@otkritie-broker.com and phone at +357 25023870. However, they currently do not offer live chat support, so clients can reach out through these channels for assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.