OctaFX are absolute scammers!

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gbi

Private, 1st Class
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33
Dear all,
I used to trade with Octafx.com while ago. I deposited 5000 EUR between October and December 2016, had some good profits during a few months (1451 EUR), and then decided to withdraw all the funds (6451 EUR) between June and September 2017. So far so good, never had an issue with the trades, nor with the withdrawals.
I then decided to trade again with them; unfortunately I did not read all the scam warnings that had been lately posted here.This time I deposited 2985 EUR on May 13, 2020. Started trading with my own expert advisor, which gave me 1208 EUR profits by May 25.I got an email from them on May 29 stating that my account was under investigation because of "suspicious trading activity which consisted of high-frequency orders in a short period of time with big price differences". They made me questions about my trading style, asking things that I am not obliged to disclose. After my reply, yesterday they blocked my account claiming I was using arbitrage. They did not provide direct evidence about any single specific trade I made, but only gave me an explanation of what they intend with arbitrage with a funny meaningless image, and providing just a statistics of order duration and tick difference. Funny thing, this is EXACTLY A COPY-PASTE of a standard reply given to other traders which are complaining on this forum (including images), so it really stinks as they are just trying to steal money from winning traders.
But the most shameful thing is that THEY CANCELED ALL MY PROFITS DATING BACK FROM THE 2016-2017 PERIOD AS WELL! They zeroed my account balance and transferred back to me 1534 EUR, which is the difference between all my deposits and withdraws from 2016 until now, meaning that they canceled 1208 EUR profits from last weeks, and 1451 EUR profits that I made back then. So they claim NOW that they detected suspicious trading in 2016-2017? Do they have any dignity? This is pure theft. I request to have my 2016-2017 profits given back to me immediately. I would strongly like to see a serious analysis of my present trades as well, but it looks like many other traders are being scammed the same way so hopes are not very high.
On the funny side, they conclude telling me "we strongly recommend you to refrain from opening new accounts with the Company". Not only I will never dream of having anything to do with them any more, but I recommend all other traders to close their OctaFX accounts and secure their funds ASAP before they will get robbed.
 
Last edited:
Dear all,
I used to trade with Octafx.com while ago. I deposited 5000 EUR between October and December 2016, had some good profits during a few months (1451 EUR), and then decided to withdraw all the funds (6451 EUR) between June and September 2017. So far so good, never had an issue with the trades, nor with the withdrawals.
I then decided to trade again with them; unfortunately I did not read all the scam warnings that had been lately posted here.This time I deposited 2985 EUR on May 13, 2020. Started trading with my own expert advisor, which gave me 1208 EUR profits by May 25.I got an email from them on May 29 stating that my account was under investigation because of "suspicious trading activity which consisted of high-frequency orders in a short period of time with big price differences". They made me questions about my trading style, asking things that I am not obliged to disclose. After my reply, yesterday they blocked my account claiming I was using arbitrage. They did not provide direct evidence about any single specific trade I made, but only gave me an explanation of what they intend with arbitrage with a funny meaningless image, and providing just a statistics of order duration and tick difference. Funny thing, this is EXACTLY A COPY-PASTE of a standard reply given to other traders which are complaining on this forum (including images), so it really stinks as they are just trying to steal money from winning traders.
But the most shameful thing is that THEY CANCELED ALL MY PROFITS DATING BACK FROM THE 2016-2017 PERIOD AS WELL! They zeroed my account balance and transferred back to me 1534 EUR, which is the difference between all my deposits and withdraws from 2016 until now, meaning that they canceled 1208 EUR profits from last weeks, and 1451 EUR profits that I made back then. So they claim NOW that they detected suspicious trading in 2016-2017? Do they have any dignity? This is pure theft. I request to have my 2016-2017 profits given back to me immediately. I would strongly like to see a serious analysis of my present trades as well, but it looks like many other traders are being scammed the same way so hopes are not very high.
On the funny side, they conclude telling me "we strongly recommend you to refrain from opening new accounts with the Company". Not only I will never dream of having anything to do with them any more, but I recommend all other traders to close their OctaFX accounts and secure their funds ASAP before they will get robbed.
@OctaFX Rep, need your attention here.
 
Sorry mate, thats what they do market makers. if you win big they accuse you of arbitrage, and close your account. i suggest you to go with regulated brokers. i was a fan of Octafx but after reading so many negative reviews, i dont want to see them.
 
octafx review
Code:
https://www.forexpeacearmy.com/community/threads/octafx-is-putting-misleading-info-at-site-and-eating-trader-money.65192/post-364594
 
Update: OctaFX transferred back to me additional 417 EUR. They did not send me any notification about that, so I don't know what it means. Anyway now there are still 1034 EUR pending from 2016-17, plus my present profits (1208 EUR).
 
suspicious trading activity which consisted of high-frequency orders in a short period of time with big price differences
Literally, a B-Book broker business model. They questioned you so they could optimize "their presets" of dealings with future traders in the same grouping. In other words, if they'd encounter this again in the future, the same group of traders with identical approach will be treated in the same condition. Nonetheless, I've to gave them credits for being a solid marketer continuously soliciting clients into trading with them.

Now, you know of how they deal with your trades... as it's stated clearly in an indirect manner that they deal in-house.
 
Update: OctaFX transferred back to me additional 417 EUR. They did not send me any notification about that, so I don't know what it means. Anyway now there are still 1034 EUR pending from 2016-17, plus my present profits (1208 EUR).
Contact them via live chat or email and ask for the details fo the funds you received and funds that you are waiting for. Don`t forget to update us here.
 
can you gather the trading records as described in this article:

@AsstModerator is it time for FPA trader's court against OctaFx yet?
 
can you gather the trading records as described in this article:

@AsstModerator is it time for FPA trader's court against OctaFx yet?
Luckily I managed to do it before they blocked my account
 
Dear gbi,

We're currently reviewing your complaint. We'll get back to you as soon as possible.

Kind regards,
OctaFX Rep.
 
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