Web3otc (web3otc.net) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: web3otc.net.
I signed up with Web3otc (web3otc.net) from a review site like this one and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Wide product range|Easy to use platform|Transparent fees|Clean UI
Cons: Website design could be more modern|No phone support on weekends
If you are reading this considering Web3otc (web3otc.net) - run. I wish I had read more negative reviews from a review site like this one. I thought the positive ones were real. Maybe some are. My experience over since the beginning of the year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Reliable uptime|Two-factor authentication
Cons: Limited ETF selection
Do not be fooled by the professional-looking website. Behind the scenes, Web3otc (web3otc.net) is disorganized and incompetent. I found them after doing extensive research and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Copy trading available|Tax reports included|Fast execution|Professional team
Cons: Currency conversion fee exists|Desktop app not available on Linux
I joined Web3otc (web3otc.net) after my brother mentioned them and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Customizable dashboard|Regular updates|Instant funding|Demo account available
Cons: Would like more payment methods
I trusted Web3otc (web3otc.net) with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Two-factor authentication|Professional team|Economic calendar|Dividend tracking
Cons: Mobile app could be improved|Minor UI glitches occasionally
My withdrawal from Web3otc (web3otc.net) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since the beginning of the year of being strung along.
Pros: Regular updates|Good mobile app|Multiple order types
Cons: Wait times can be long during peak hours|No fractional shares
I had high hopes for Web3otc (web3otc.net) through my accountant's suggestion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Risk management tools|Easy to use platform|Customizable dashboard
Cons: Website design could be more modern|Wait times can be long during peak hours
Do not believe the bonus offer from Web3otc (web3otc.net). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through word of mouth in my investment club and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Detailed reporting|Instant funding
Cons: Limited cryptocurrency options|Help articles are sometimes vague
KYC with Web3otc (web3otc.net) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Copy trading available|Tax reports included
Cons: Could offer more webinars|Live chat only during business hours
The only good thing about Web3otc (web3otc.net) is that they remind you why regulation matters. I found them after comparing multiple platforms. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Quick verification|Portfolio tracking tools|Good mobile app
Cons: Wait times can be long during peak hours|Wish they had more educational resources