ABANDONED - Octafx's dirty tricks to keep your money.

[UPDATE] 24/06/2022

After a several followups on my withdrawal request they have finally taken some action, unfortunately, that action was to reject my withdrawal again. I am attaching the ss for the same. And this time the reason provided was that I do not have free funds in my account.

@OctaFX Rep please explain the same.
I know right!, two weeks have passed and I have not received a single penny. It has been two two exhausting weeks where I have requested for status updates every single day. After rejecting the refund my account balance was 259.99$ (octafx account balance). I have requested another withdrawal of 259$ as of today. Upon a follow up conversation with the CSR they've confirmed that my withdrawal request has been processed and the money is sent to my bank, now all that remains is for my bank to acknowledge the transaction and credit it in my account.

What confuses me is, aren't these payments automatic. I mean yeah, maybe octafx approves each request manually, but I don't think a national bank would go on to approve each transaction manually, and thus my suspicion on their response ( waiting for my bank to acknowledge the transaction part). I am attaching my chat transcript and the withdrawal ticket for reference.

Moreover, due to such uncertainty I am considering the possibilities of legal actions and in process of which I have discovered some information on octafx's registration details with SEBI (Indian financial markets regulator). I am attaching the same here for future references. The interesting thing about this is the CSR deny their registration with sebi and also deny having any offices in India, however the information I provide here contain an Indian registered office address, a phone number and their registration number.

There are two possible inferences from this contradiction
  • The octafx CSRs are trained to not provide such information to the clients or,
  • The registration details with sebi is fake.
I would like @OctaFX Rep to clarify this issue too.


  • Withdrawal ticket 259.jpg
    Withdrawal ticket 259.jpg
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  • CT confirming withdrawalhas been processed.PDF
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  • Sebi registration details .jpg
    Sebi registration details .jpg
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  • Proof of denying sebi registration.PDF
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Update 29/06/2022

I have received my withdrawal, however the above discrepancy remains to be sorted out. still waiting for a proper answer.