Our Time Market (OurTimeMarket.com) Review: We look at a lot of brokers here, and today we investigate OurTimeMarket forex broker. This OurTimeMarket review covers several aspects of OurTimeMarket broker, taking an in-depth look from the features allegedly offered to the case of its licensing, account types, leverage, withdrawal/deposit methods, and many other things. Read this review to see what experts have to say about OurTimeMarket forex broker.
Table of Contents
OurTimeMarket Trading Platform
A trading platform, the software that gives access to the foreign exchange market, is one of the important aspects of a broker as it can make the difference between a bad or a good deal. The widely accepted Meta trader 4 and 5 are the industry standard when it comes to FX trading, but they are some brokers who use software that defers from that.
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OurTimeMarket uses a binary-option, an option that can be compared to gambling away in a casino. OurTimeMarket forex broker uses a generic platform to offer its clients access to the market.
We would like to point out that the legitimacy or competency of a broker isn’t solely based on the type of trading platform it supports, as they are a lot of scammers and incompetent brokers that have access to these renowned platforms.
OurTimeMarket forex broker offers max leverage at 1:300.
A High leverage can be a double-edged sword in the sense that a trader on a good trade can make a huge profit but also an enormous loss if the reverse becomes the case. Various regulatory bodies have put a cap on leverages for brokers; a limit that most unregulated brokers disregard. We do advise restraint if you ever come upon a broker with a leverage exceeding 1:30, especially if you are new to the market.
OurTimeMarket Account Types
In this portion of the review, we aim to explore the account types a broker might possess. Here, we check the account with its corresponding deposit and leverage. Doing this gives a clearer idea of how a broker might operate.
After checking, we discovered that OurTimeMarket broker has no information on account types.
Different brokers have different account types; most legitimate brokers start their entry accounts at $250, which is the acceptable minimum deposit the industry normalized. We reiterate that this is still not a yardstick to measure the legitimacy or competency of a broker.
OurTimeMarket Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
OurTimeMarket forex brokers has Wire Transfers and Bitcoin as a method for deposit.
One thing to keep in mind is that a broker might have withdrawal conditions concerning accounts; most fraudulent brokers stipulate a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is OurTimeMarket Licensed?
Licensing is another important part of our review because we can trust a regulated broker to some extent not to do anything fraudulent. We complete this part of the review by first checking the name of the company attached to the broker and then run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check the regulatory body OurTimeMarket broker is meant to be under. To know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy. This list of regulatory bodies is not exhaustive by any means.
This broker is definitely not a licensed broker as we could not find it in the list of brokers under the registry of licensed brokers in the caymans.
To see more of our reviews, take a look at dotfx review, marketscg review, hitoptions review.
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Minimum Trade Deposit $100
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
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Minimum Trade Deposit $100
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In conclusion, we wouldn’t recommend you to trade with OurTimeMarket, they do not impress us with the vague information they have provided. They don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
OurTimeMarket says it is a binary-option broker, a method that has been riddled with different holes that can be turned into a scam.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.