Resolved - OCTAFX - Maxi Fraud 105.000€

[foixx]

It seems like this happens to everyone who wants to withdraw money from them. Especially profitable traders. It is like their business model isn't suitable for paying back.

Isn't there any court you can file a case against OctaFX? I mean this is obviously a fraud. Who knows why they can't pay you back at once. Maybe this is just a method to squeese any % of interest they can get from having so much money. Or they need to bring up that money every week? Maybe they are also doing money laundry?

Unfortunately I have asked to the Broker in all possible languages to kindly provide some evidences of his, so much declaimed, e-wallets weekly payment limitations....but....obviously, I've never had any response.
Therefore I don't have any idea about the REAL reasons behind of this deceptive behavior.

Yes, I agree with you....since OctaFx avoids to specify these limitations in his Customer Agreement or web site.......and since he avoids to provide any evidence....in my opinion this conduct can be labeled as a pure fraud.

I was ready to start a lawsuit using a local lawyer directly in St. Vincent and the Grenadines, where the Broker company is incorporated...but the Broker has made very well his fraudulent payment calculations.....in fact an invitation to court cannot be made within the next 4 months, when the Broker, with his 5000€ weekly ratio, will have just concluded my total payments......and everything will be in vain !

For all these reasons I hope that the FPA staff will want to proceed with the Traders Court public voting, by hoping in a consequently guilty verdict, in order to provide at the very least, a significant reputational loss to this fraudulent Broker.

 

[OctaFX Rep]

Dear Participants,

OctaFX cannot pay out foixx’s funds all at once due to certain limitations, and his discontent with the schedule we proposed to him doesn’t cancel out the fact that he is being paid.

Also, we will not sacrifice other clients’ withdrawals to be able to satisfy foixx, just because he pursued a goal of destroying our company’s reputation.

We cannot and will not tolerate any further accusations, like money laundering, fraud, or any other that would deem OctaFX performing any illegal activities.

We are a reputable broker and we will strive to maintain our untouched reputation, for which many of our traders can vouch.

We wish to thank the FPA community for their support.

Kind regards,
OctaFX Rep.

 

[L0STCTRL]

OctaFX cannot pay out foixx’s funds all at once due to certain limitations, and his discontent with the schedule we proposed to him doesn’t cancel out the fact that he is being paid.

Also, we will not sacrifice other clients’ withdrawals to be able to satisfy foixx, just because he pursued a goal of destroying our company’s reputation.

Point out the limitations set by the company, so you can convince your customer that it isn't in your hand at first place to fix the payment issues.
Tell us, what would you do if you were in his place? Holding your money without a single fact to defend the argument would clearly drive anyone crazy. What has he done to deserve this? If you have limits point them out, otherwise don't come here saying that you will not allow your company to be accused or shamed over your irresponsibility to your customer.
I'm sorry for the inconvenience, as I'm quite new here, but a note on their review page, that under some limitation that can't be disclosed with their client they can't make a full payment or installment in a short period of time, wouldn't hurt them that much, would it?

 

[rapidace]

I believe OctaFX delay the payment release just because they want to make interest from bank?
Imagine that 0.05% interests per month for $100,000 will be $50? I assume?

 

[L0STCTRL]

his discontent with the schedule we proposed to him

I hope u do understand the difference between proposing and acting right? Cause if he is unhappy with the proposal, you should try to arrange a deal acceptable from both parties, not simply execute the offered deal

 

[foixx]

Dear @OctaFX Rep, really unbelievable the arrogance of your approach.
Despite your total false statements... as my case as clearly showed:

......"OctaFX does not limit the amount you can withdraw", and "the Company shall pay the specified amount within three (3) Business Days"....avoiding to report any other limitation....
and your misleading promoting for your potential clients:
"Max deposit amount = Unlimited", "Maximum Trading Volume = Unlimited"
......you pretend in any case to be on the right and that it's your right to maintain your reputation....untouched........you are the victim of all this calumny, isn't it?
Really incredible that a client that submits a withdrawal request in order to have payed back all his money AFTER YOUR FORCED ACCOUNT CLOSING without providing any explanation.......can have "problems" to accept a refund time table of 7 months......really absurd...isn't it?.....how dare he?!!!

@AsstModerator......obviously OctaFx has avoided to answer to your request also this time....evidently he doesn't want some sort of impositions....he wants to follow his convenience in his payments....why should he be called to account of it to someone else?

The Broker said: "Also, we will not sacrifice other clients’ withdrawals to be able to satisfy foixx".......deepest apologies OctaFx for the inconvenience....obviously it's my fault !!!!....since I HAVE FORCED YOU to open an account with this high demands !!!

....and : "We cannot and will not tolerate any further accusations, like money laundering, fraud....".......sure....you are right ....I have to accept whatever you impose to me .....waiting only your convenience ....and without any complaint !

....and again: "......and his discontent with the schedule we proposed (shall read: IMPOSED ) to him doesn’t cancel out the fact that he is being paid.".......sure...this is the only important thing....no matter the 7 months of waiting....but ......then...... I have an idea....why pay me 5000€ a week......you can pay me much less if you want......you can do for example only 500€ a week for 160 weeks.....also in this case...."doesn’t cancel out the fact that he is being paid."

Leaving irony aside (I prefer laugh about it, than cry)....@AsstModerator.....really....what does impede him to pay me a lesser amount in the future due to, for example, increment in his "certain limitations"?
Who can determine that, for example, 500€ a week would be not acceptable while 5000€ a week is instead acceptable (and so this event can't be categorized as a scam)?
And....basing on what ....someone could determine this limit .......between a fraud and a normal behavior of a reputable Broker?
The only reference point.....shouldn't be the Customer Agreement undersigned from clients during the opening account procedure?

I hope really that FPA will condemn this conduct, proceeding with Traders Court public voting....because ...on the contrary....I have a message for all the other "reputable" Brokers worldwide:

Dears Brokers, from now fell free to totally ignore the withdrawal requests amount of your clients. You can peacefully complete immediately, in compliance of your Customer Agreement, only a little part of them.......for the rest....no hurry.....you can do it as your convenience, also in a lots of months...no problems.....you don't have to "sacrifice other clients’ withdrawals".......this fact "doesn’t cancel out the fact that they are being paid"...........and, in the meanwhile.......be assured that your reputation of honest Broker will rest untouched because you will be right in any case........it's not your problem if you can discontent your - harder to please - clients with the - several months - schedule you propose (/ impose) to them !!!

In my view ....a similar pretension ....it's absolutely mind-blowing !!! .....no other words to define it !!!!

 

[foixx]

I hope u do understand the difference between proposing and acting right? Cause if he is unhappy with the proposal, you should try to arrange a deal acceptable from both parties, not simply execute the offered deal

In August, after my account closure and after the Broker communication about the 5000€ weekly payment, I tried to be collaborative and reach an agreement with him, and I proposed him a 10000€ weekly payment instead of 5000€.
OctaFx didn't even bother to answer me (I remind to all that he has stopped to answer to all my email since 4 of August......this is the attention of this Broker towards his clients !)

Now I would like to reiterate this agreement publicly, in front of all the FPA Forum Members, wondering me how could be the Broker reaction......will he totally ignore me another time?

Dear @OctaFX Rep, are you disposal to reach an agreement with me for a 10000€ weekly payment for the next 8 weeks - 2 months ?
If Yes, we can proceed basing this refund time table on an agreement between both parts and not only basing it on a your imposition that I have only to suffer.....and I will consider this regrettable case as Resolved.

Please.....would you have this time a little bit more respect for me providing me a response about this proposal....even in case of your negative answer?
Thank you very much.

 

[AsstModerator]

OctaFX Rep,

Does this mean that any client trying to withdraw more than 10,000 Euros will face similar delays due to the limitations of your payment processors? If so, I think this needs to be added to your TOS regarding withdrawals.

 

[foixx]

OctaFX Rep,

Does this mean that any client trying to withdraw more than 10,000 Euros will face similar delays due to the limitations of your payment processors? If so, I think this needs to be added to your TOS regarding withdrawals.

I would like to remind another time that I never had any problem to withdraw more than 10.000€ in one single request before my trading activity became profitable.
I attach again 4 withdrawal receipts of 15.000€ executed in March, April, May and June.....in the same day of submission....great efficiency !
Probably OctaFx has only to add in his T.O.S......"We have a 5000€ withdrawal weekly limitation but this is applicable only to winning clients that wants to withdraw their profits !"

And without any explanation from the Broker....never.....only silence.....what I have to think about the reason of it?

Maybe that he's only a fake ECN Broker that actually trades against his clients and consequently he doesn't want winning clients and, if it happens....he forcibly closes their trading accounts, without provide any explanation and subsequently....he makes their life impossible with their withdrawal requests.....without any regard....by stopping any contact as well.....since that.....anyhow....they will not be his clients anymore in the future....and so...no matter about them at all !

I don't know...this is only a supposition......but....what ...a mistreated client like me....has to think about in a similar situation?

@OctaFX Rep....I await hopefully your answer about my 10000€ weekly refund proposal.....now you have the opportunity to solve the situation in an equitable manner for both !.....Will you have the will to do it?

Really thank you to @AsstModerator as well....for his effort, acting as a mediator in trying to resolve this my problem.

 

[OctaFX Rep]

I would like to remind another time that I never had any problem to withdraw more than 10.000€ in one single request before my trading activity became profitable.
I attach again 4 withdrawal receipts of 15.000€ executed in March, April, May and June.....in the same day of submission....great efficiency !
Probably OctaFx has only to add in his T.O.S......"We have a 5000€ withdrawal weekly limitation but this is applicable only to winning clients that wants to withdraw their profits !"

And without any explanation from the Broker....never.....only silence.....what I have to think about the reason of it?

Maybe that he's only a fake ECN Broker that actually trades against his clients and consequently he doesn't want winning clients and, if it happens....he forcibly closes their trading accounts, without provide any explanation and subsequently....he makes their life impossible with their withdrawal requests.....without any regard....by stopping any contact as well.....since that.....anyhow....they will not be his clients anymore in the future....and so...no matter about them at all !

I don't know...this is only a supposition......but....what ...a mistreated client like me....has to think about in a similar situation?

@OctaFX Rep....I await hopefully your answer about my 10000€ weekly refund proposal.....now you have the opportunity to solve the situation in an equitable manner for both !.....Will you have the will to do it?

Really thank you to @AsstModerator as well....for his effort, acting as a mediator in trying to resolve this my problem.

Dear foixx,

Each time we referred to the limitation it was for you to understand that we cannot pay out all your funds at one.

We are doing our best to withdraw your funds in the fastest pace possible. 5k per week was proposed to have a fluid withdrawal schedule. However, when possible we try to send you amounts bigger than the initially proposed 5k. This is determined by the demand in withdrawals.

We wish to ask for your understanding.
And similarly thank AsstModerator for his involvement in this thread.

Kind regards,
OctaFX Rep.