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Problem Octafx blocked my account for no reason and not giving me my funds 23132$.

I am having an issue with a company

Hamid Ali

Private
Messages
20
Hi, It's Hamid Ali, I've been trading in octafx since some time, from the reviews and ratings from trust pilot they look like something but yeah I've been there and bow I am here trying to get my money after begging them to refund which they are continuously refusing.
Story begins as on 11 nov night my withdrawal request gets declined getting a reason that your account is under investigation. I am attaching screenshot. I waited, I asked on support they said it'll be done within 24 hours and your withdrawal will be processed.
After almost 20 hours I get a mail that your account has been blocked
""Service denied in accordance with sub-clause 3.10 of our Customer Agreement:

3.10. The Company reserves the right, at its discretion, to refuse to provide the Services to the Client at any time, and the Client agrees that the Company shall have no obligation to inform the Client of the reasons.

It means that the Company takes its right to discontinue services provided to you.

What to do
The access to your Personal Area has been revoked and cannot be restored. If you have any funds remaining in your Wallet or trading account, please contact us at kyc@octafx.com for more information.

In addition, we strongly recommend you to refrain from opening new accounts with the Company.""


At the same time I received another email


""
OctaFX: Re: Service denied in accordance with the p. 3.10 of the Customer Agreement

Jean (OctaFX)

Nov 12, 2022, 19:21 GMT+3

Dear Customer,

Access to your account has been blocked due to the following reason:

Service denied in accordance with the p. 3.10 of the Customer Agreement

Customer Agreement p. 3.10 declares the following:

"3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons."

It means that the Company takes its right to discontinue services provided to you. The access to your Personal Area at our website will be blocked and won't be restored.

In addition, we strongly recommend you refrain from opening new accounts with the Company.

In case you disregard our recommendation, we will liberate the company from the responsibility for your actions. If you open another account with OctaFX, it will be blocked at the moment Company deems it appropriate and necessary, trades will be revoked, profits canceled; we will also transfer all the third parties' commissions charged for transactions processing on your side. Such account(s) might be a subject of additional security checks including but not limited to requesting certified hard copies of the documents used to open an account and/or documents confirming your identity. In case such a situation arises, we will handle it as if it had low priority which may result in delayed case resolution.
Best regards,
Jean
KYC department"" ( attaching screenshot for this)


I was shocked as I had everything in there and but it was written for remaining funds contact kyc, I did that at first they just replied the same recent mail I pasted by agent Jean. When I again asked them to refund my amount they simply said we are unable to provide refund at the moment. I didn't knew what to do and bow I worried sick they took everything from me.
I asked them for refund again and again asked them for reason why no refund they just sent me mail everytime mentioned service denied.
Luckily I took some screenshots of my personal area showing balance as I was showing off to my friend, I am attaching screenshots, money is still in my trading accounts as right now.
I hope I will get justice
Also funds are still there in my trading accounts as they were there I can just checked hours before.
I also tried to put a review here but hasn't appeared yet. Please help me
 

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Sorry I missed to mention this latest mail in which they said you've already withdraw more funds than you deposited,
Now it's been more than 24 hours they aren't responding to my mail.
 

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this is bad and they never gave any reason?
Maybe you drop your email for an admin to contact you or something on how they can help
 
this is bad and they never gave any reason?
Maybe you drop your email for an admin to contact you or something on how they can help
They don't have a reason that's why they didn't gave a reason. Only reason they gave you've already withdrawn more amount than deposit. That means a client cannot withdraw profits from octafx. They should clearly say it in terms and conditions that we don't allow clients to withdraw profits.
If Admin asked I'll be happy to drop email
 
Hi, It's Hamid Ali, I've been trading in octafx since some time, from the reviews and ratings from trust pilot they look like something but yeah I've been there and bow I am here trying to get my money after begging them to refund which they are continuously refusing.
Story begins as on 11 nov night my withdrawal request gets declined getting a reason that your account is under investigation. I am attaching screenshot. I waited, I asked on support they said it'll be done within 24 hours and your withdrawal will be processed.
After almost 20 hours I get a mail that your account has been blocked
""Service denied in accordance with sub-clause 3.10 of our Customer Agreement:

3.10. The Company reserves the right, at its discretion, to refuse to provide the Services to the Client at any time, and the Client agrees that the Company shall have no obligation to inform the Client of the reasons.

It means that the Company takes its right to discontinue services provided to you.

What to do
The access to your Personal Area has been revoked and cannot be restored. If you have any funds remaining in your Wallet or trading account, please contact us at kyc@octafx.com for more information.

In addition, we strongly recommend you to refrain from opening new accounts with the Company.""


At the same time I received another email


""
OctaFX: Re: Service denied in accordance with the p. 3.10 of the Customer Agreement

Jean (OctaFX)

Nov 12, 2022, 19:21 GMT+3

Dear Customer,

Access to your account has been blocked due to the following reason:

Service denied in accordance with the p. 3.10 of the Customer Agreement

Customer Agreement p. 3.10 declares the following:

"3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons."

It means that the Company takes its right to discontinue services provided to you. The access to your Personal Area at our website will be blocked and won't be restored.

In addition, we strongly recommend you refrain from opening new accounts with the Company.

In case you disregard our recommendation, we will liberate the company from the responsibility for your actions. If you open another account with OctaFX, it will be blocked at the moment Company deems it appropriate and necessary, trades will be revoked, profits canceled; we will also transfer all the third parties' commissions charged for transactions processing on your side. Such account(s) might be a subject of additional security checks including but not limited to requesting certified hard copies of the documents used to open an account and/or documents confirming your identity. In case such a situation arises, we will handle it as if it had low priority which may result in delayed case resolution.
Best regards,
Jean
KYC department"" ( attaching screenshot for this)


I was shocked as I had everything in there and but it was written for remaining funds contact kyc, I did that at first they just replied the same recent mail I pasted by agent Jean. When I again asked them to refund my amount they simply said we are unable to provide refund at the moment. I didn't knew what to do and bow I worried sick they took everything from me.
I asked them for refund again and again asked them for reason why no refund they just sent me mail everytime mentioned service denied.
Luckily I took some screenshots of my personal area showing balance as I was showing off to my friend, I am attaching screenshots, money is still in my trading accounts as right now.
I hope I will get justice
Also funds are still there in my trading accounts as they were there I can just checked hours before.
I also tried to put a review here but hasn't appeared yet. Please help me
@OctaFX Rep, can we have your attention here, please?
 
Last reply I received from octafx on 13 November, I am replying them daily about refund. No response in last 3 days.
Also when and how I can invite them to this thread someone please guide.
 
Last reply I received from octafx on 13 November, I am replying them daily about refund. No response in last 3 days.
Also when and how I can invite them to this thread someone please guide.
Now, follow this, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note 1: The invitation button will be enabled when your first post reaches 4 days old.
Note: 2 You need to make a second post in this thread to enable the official invitation option.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 4: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
 
invite-opc.png
The OP has invited the company to this discussion on Nov 19, 2022 at 1:09 AM
It's almost a week already , i am trying to stay in contact with broker via email but they aren't replying there too. So what's next in case broker fails to respond please guide
Last reply I received from octafx on 13 November, I am replying them daily about refund. No response in last 3 days.
Received one reply after mailing them multiple times that same service denied mail with reference para 3.10, attached,

""Access to your account has been blocked due to the following reason:

Service denied in accordance with the p. 3.10 of the Customer Agreement

Customer Agreement p. 3.10 declares the following:

"3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons."

It means that the Company takes its right to discontinue services provided to you. The access to your Personal Area at our website will be blocked and won't be restored.

In addition, we strongly recommend you refrain from opening new accounts with the Company.

In case you disregard our recommendation, we will liberate the company from the responsibility for your actions. If you open another account with OctaFX, it will be blocked at the moment Company deems it appropriate and necessary, trades will be revoked, profits canceled; we will also transfer all the third parties' commissions charged for transactions processing on your side. Such account(s) might be a subject of additional security checks including but not limited to requesting certified hard copies of the documents used to open an account and/or documents confirming your identity. In case such a situation arises, we will handle it as if it had low priority which may result in delayed case resolution.
Best regards,
Veronica
KYC department""""

It doesn't explain why they aren't refunding my remaining balance. Yes they discontinued their service of which they aren't obliged to give me reasons but they are obliged to return my funds.
For not refunding the amount they give the reason you've already withdrawn more amount than deposit, which means I cannot take take out my profit from this broker , so in such case WHY WOULD SOMEONE TRADE WITH OCTAFX ,????

Another question for FPA members, if I ask broker for their regulatory body's contact or website , are they obliged to give me that ?
 

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Another question for FPA members, if I ask broker for their regulatory body's contact or website , are they obliged to give me that ?

Why would you need to fight with them for that? Their FPA review page lists 2 regulators. From your house or office, visit their home page, check the footers, and see what regulators they claim.

You can find contact info for the financial regulators and national police agencies of most countries in the new book I'm publishing at the FPA. Scroll down the table of contents and look for "Other Places to Complain":

 
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