Resolved - OCTAFX - Maxi Fraud 105.000€

[foixx]

Yesterday another weekly payment is arrived from the Broker.
Evidently, as a result of the public clamor of my Scam Alert thread, OctaFx has been magically able to break his...so much emphasized.. 5000€ weekly payment limit.
In fact, look at the image attached....he has completed one of my very old withdrawal request 10000€ worth, dated 20 August....almost 2 months of waiting after the date submission !
Unfortunately I have still 90.000€ totally blocked with him, in my forcibly deactivated trading account, with a multitude of old withdrawal requests still pending, and ...obviously ....the Broker continues, without any hesitation, to avoid to contact me or to answer to every my email, despite his false availability public declarations.
He has never tried to reach any agreement with me....he has only communicated me the 5000€ weekly payment in his last email dated 4 August...and no more contact after that.....no way...deal or not deal...this was only an imposition for me !
I have tried to make a deal with him in several occasion, but after almost 3 months of total silence, now I'm only...totally disgusted by his behavior and by the non-existent attention demonstrated towards his clients.
I have only another question for you...OctaFx... Do you think that a Broker with your high standard....(as you said in your last reply: "we wish to emphasise our company's irreproachable reputation and transparency towards its traders"), could peacefully afford to complete his client withdrawal requests.....only when he wants....and only how he wants....closing accounts and stopping any contact with his clients...no matter their needs...... and despite what is specified in his own Customer Agreement?
Is this what you need, in your conviction, to be an honest and professional Broker with an...."irreproachable reputation and transparency"?
Three days ago I have filed the case to the FPA Traders Court.....now I'm only waiting for the next step.....surely I have no intention to do nothing just waiting for....every weeks with the hope that the Broker might be magnanimous with me, and may grant me one of my payments ....in all his benevolence !

 

[4evermaat]

Can you confirm via Neteller that you actually receive partial payment?

 

[foixx]

Can you confirm via Neteller that you actually receive partial payment?

Of course.
Attached there is the Neteller confirmation about the last payment 10000€ worth, and I enclose again 2 OctaFx Client Area screenshots with all my other old withdrawal requests still pending, dated 1 September with every amount possible, submitted in order to facilitate Broker payments....and the other one, dated 8 October, containing only requests with 5000€ worth, following Broker indications: "Unfortunately, in exceptional cases where our e-wallet limitations clash with the existing high demand, we kindly ask our traders to resubmit their withdrawal requests in smaller amounts"
Same thing with Skrill requests (images attached).
In this way OctaFx has really no more reasons to avoid to pay me all my money back ....he can really do it in every possible way !

 

[AsstModerator]

Dear foixx,

Thank you for your further feedback.

As explained before, your funds are and will continue to be withdrawn. We checked your account and confirm that your last withdrawal request has been successfully processed last week.

Unfortunately, we are bound by a limitation. And section 13.9 to which you’re referring to does not apply in your case, as we already began paying out your funds, and consequently, there is no reason to suspect your funds insecurity.

We invite you to address our customer support for any further enquiries, as they will be more than happy to help.

Once again, we wish to emphasise our company's irreproachable reputation and transparency towards its traders and thank the FPA community for their support.

Kind regards,
OctaFX Rep.

Hello OctaFX Rep,

If foixx uses bank wire, could he withdraw all of his money sooner?

 

[foixx]

Thank you @AsstModerator ....very valid question !

I attach again these my 2 email copies (I have already provided to the Broker my Bank details 2 months ago in one of these emails).
But these emails were written (5 and 16 August) after the last Broker email (4 August)....and after that no more answers from him.

In one of my previous reply in this thread, I wrote to the Broker:

In your Customer Agreement you claim:
"13.8. In exceptional cases (such as Force Majeure circumstances, termination of payment system operation, etc) Company is entitled to decline Client’s funds withdrawal in this payment system. Such cases shall be considered on a case by case basis.
13.9. To provide financial security for the Client in some cases the Company reserves a right to withdraw Client’s funds only to his/her bank account."
...then, can you explain me why you can't use a simple Bank transfer to refund me completely in only one solution, considering that you have so many problems with your e-wallet accounts (in one of my email - 16 August, attached to my first post, I have already provided you my Bank details.....but you never answered me)

But....in the second and last Broker reply, OctaFx answered me: "Unfortunately, we are bound by a limitation. And section 13.9 to which you’re referring to does not apply in your case, as we already began paying out your funds, and consequently, there is no reason to suspect your funds insecurity."

This means that he can use Bank transfer only in case of funds insecurity......but.... WHY he's unable to use it to pay me all my money back, since he claims his e-wallet limitations?
I don't know....OctaFx never answered me about it.......but I can imagine the reason !

 

[OctaFX Rep]

Hello OctaFX Rep,

If foixx uses bank wire, could he withdraw all of his money sooner?

Dear AsstModerator,

Thank you for your involvement in this thread.

With all due respect to Foixx’s posts and reference to our customer agreement we are unable to withdraw his funds via bank wire.

As all the transactions between Foixx and OctaFX were conducted via Neteller/Skrill we must act in accordance with the AML provisions. Any violation of these provisions by our company would be unlawful.

We are fully aware of the inconvenience Foixx is addressing here on FPA, but having regard to all of the above we will continue withdrawing his funds via Neteller.

Thank you for your understanding.

Kind regards,
OctaFX Rep.

 

[foixx]

Dear AsstModerator,

Thank you for your involvement in this thread.

With all due respect to Foixx’s posts and reference to our customer agreement we are unable to withdraw his funds via bank wire.

As all the transactions between Foixx and OctaFX were conducted via Neteller/Skrill we must act in accordance with the AML provisions. Any violation of these provisions by our company would be unlawful.

We are fully aware of the inconvenience Foixx is addressing here on FPA, but having regard to all of the above we will continue withdrawing his funds via Neteller.

Thank you for your understanding.

Kind regards,
OctaFX Rep.

Oh sure....I have no problem to get payed with Neteller/Skrill.
The problem is that you want to impose me a 5 months waiting, to receive all my money back !
You said: "Any violation of these provisions by our company would be unlawful"
...but ...I would like to ask to all the FPA readers of this thread......in your opinion...is it lawful to block a client withdrawal requests for months?
You said: "....reference to our customer agreement we are unable to withdraw his funds via bank wire"
...but...why you want reference to your customer agreement only when it's convenient for you?

And your customer agreement point 13.5 :
"If the Client requests to withdraw funds from the Trading Account, the Company shall pay the specified amount within three (3) Business Days once the request has been accepted......."
and your web site FAQ section:
13.7 What is the maximum amount for withdrawals/ deposits?OctaFX does not limit the amount you can withdraw or deposit into your account. The deposit amount is unlimited, and the withdrawal amount should not exceed free margin.
PLEASE, May I know WHERE is it indicated in your Customer Agreement or in your web site that if a client make profit, he will be able to withdraw a maximum of 5000/10000€ a week, and not more, due to your e-wallet limitation?

If you have failed to indicate clearly these kind of conditions....this appears only as an abuse...there is nothing to add !
I was disposal in several occasions to reach an agreement with you, but your total silence until now with me, constitutes in my opinion, not only an abuse .....but a full-on fraud !
I look forward to have the Traders Court public voting, in order to know the opinion about it of all the other FPA members.

 

[veri5]

I smell fish, withdrawal from broker to client's bank account don't break any AML provisions, even if it was deposited by electronic money, they are trying to manipulate .....

 

[foixx]

@veri5....Unfortunately it's been months since I smell fish !

In his last reply @OctaFX Rep wrote:
"As all the transactions between Foixx and OctaFX were conducted via Neteller/Skrill we must act in accordance with the AML provisions. Any violation of these provisions by our company would be unlawful"

....but his statement is purposely inaccurate.

I have deposited always using Neteller, I never used Skrill to deposit.
After my trading account forced closure, was the Broker to write me, asking if I could provide a Skrill account, in order to accelerate the processing of my withdrawal requests (Can I prove it? Yes...look at the 3 emails copy attached, dated 2 August...the day after the account closing...I attach again the closing communication email)
So...OctaFx had no problems to execute my withdrawals using Skrill, despite I had deposited only with Neteller.
No violation of AML provisions in this case?......and then...why using a simply Bank transfer is in breach of them?

@AsstModerator...in your experience...can be plausible for a Broker to support such an answer?

 

[AsstModerator]

Dear AsstModerator,

Thank you for your involvement in this thread.

With all due respect to Foixx’s posts and reference to our customer agreement we are unable to withdraw his funds via bank wire.

As all the transactions between Foixx and OctaFX were conducted via Neteller/Skrill we must act in accordance with the AML provisions. Any violation of these provisions by our company would be unlawful.

We are fully aware of the inconvenience Foixx is addressing here on FPA, but having regard to all of the above we will continue withdrawing his funds via Neteller.

Thank you for your understanding.

Kind regards,
OctaFX Rep.

Thanks for your reply.

If the client made a small deposit via bank wire, would OctaFx then be able to allow him to withdraw all of his money by bank wire?

If bank wire is not an option, does OctaFx have any other methods where the client could get all of his funds faster?