IrwanI
Sergeant Major
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Snapped can you upload the T O S please
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Discuss OctaFX.com
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General discussions of a financial company
The new Broker reply:
Dear AsstModerator,
To clarify we never considered foixx’s case atypical.
If you refer to our previous posts you’ll see that due to limitations on our payment systems we cannot process his withdrawal all at once.
It is not an uncommon practice to ask our clients to submit several withdrawal requests if it exceeds the limitation amount.
This is exactly what happened in foixx’s case, and we are continuously withdrawing his funds.
Once again, we understand the inconvenience as we keep note of all the posts that foixx is publishing in the thread and we wish to thank you for your involvement in it.
Please rest assured we are doing our best to withdraw his funds as soon as possible.
Thank you again for your understanding.
Kind regards,
OctaFX Rep.
Dear AsstModerator,
To clarify we never considered foixx’s case atypical.
If you refer to our previous posts you’ll see that due to limitations on our payment systems we cannot process his withdrawal all at once.
It is not an uncommon practice to ask our clients to submit several withdrawal requests if it exceeds the limitation amount.
This is exactly what happened in foixx’s case, and we are continuously withdrawing his funds.
Once again, we understand the inconvenience as we keep note of all the posts that foixx is publishing in the thread and we wish to thank you for your involvement in it.
Please rest assured we are doing our best to withdraw his funds as soon as possible.
Thank you again for your understanding.
Kind regards,
OctaFX Rep.
@OctaFX Rep continues purposely to avoid to talk about the crucial point.
The problem is not to split my big withdrawal request and execute only 5000€ worth withdrawal requests at a time....the problem is that he's paying me only 5000€ a week .....avoiding to indicates where this 5000€ weekly limitation is specified in his Customer Agreement or web site, in order to inform his clients.
In my opinion.... at this point .....a similar vague answer sound only as a joke !
I hope that FPA will decide for proceeding with the public voting, faced to a similar shameless behavior.
The problem is not to split my big withdrawal request and execute only 5000€ worth withdrawal requests at a time....the problem is that he's paying me only 5000€ a week .....avoiding to indicates where this 5000€ weekly limitation is specified in his Customer Agreement or web site, in order to inform his clients.
In my opinion.... at this point .....a similar vague answer sound only as a joke !
I hope that FPA will decide for proceeding with the public voting, faced to a similar shameless behavior.
Another little 5000€ weekly payment is arrived today from the Broker.
80.000€ still blocked in the account since 3 months.
Seems that I will have to suffer for another 16 weeks - 4 months !!!
Maybe that the Broker considers my condition atypical due to the high amount of my withdrawal request.
Maybe that OctaFx has only a very little brokerage business, so that he has only clients with little deposits and therefore he's used to handling only withdrawal requests with much smaller amount.
This can be OK...no problem... a lot of other Brokers are specialized only in low deposits and low trading volume clients.
BUT....if this is the case.....OctaFx MUST specify it in his Terms of Use or web site.
Why does he persist to promote in his web site: "Max deposit amount = Unlimited", "Maximum Trading Volume = Unlimited", and in his FAQ Section "OctaFX does not limit the amount you can withdraw", and in his Customer Agreement: "the Company shall pay the specified amount within three (3) Business Days"....avoiding to report any other limitation.
As my case has clearly showed these statements are totally false, and he continues to lies......purposely !
And surely this is not a behavior of...as he claim....a reputable and honest Broker.....this shows that he wants only deceive his clients.
If I'd had the possibility to know his absurd 5000€ withdrawal weekly limitation, before my account opening, surely I would have chosen another Broker....and no problems would come out for nobody !
Really difficult to understand how OctaFx doesn't realize that if he persist with this misleading behavior, his reputation will be destroyed in no time....and this will not be a big deal for him !
80.000€ still blocked in the account since 3 months.
Seems that I will have to suffer for another 16 weeks - 4 months !!!
Maybe that the Broker considers my condition atypical due to the high amount of my withdrawal request.
Maybe that OctaFx has only a very little brokerage business, so that he has only clients with little deposits and therefore he's used to handling only withdrawal requests with much smaller amount.
This can be OK...no problem... a lot of other Brokers are specialized only in low deposits and low trading volume clients.
BUT....if this is the case.....OctaFx MUST specify it in his Terms of Use or web site.
Why does he persist to promote in his web site: "Max deposit amount = Unlimited", "Maximum Trading Volume = Unlimited", and in his FAQ Section "OctaFX does not limit the amount you can withdraw", and in his Customer Agreement: "the Company shall pay the specified amount within three (3) Business Days"....avoiding to report any other limitation.
As my case has clearly showed these statements are totally false, and he continues to lies......purposely !
And surely this is not a behavior of...as he claim....a reputable and honest Broker.....this shows that he wants only deceive his clients.
If I'd had the possibility to know his absurd 5000€ withdrawal weekly limitation, before my account opening, surely I would have chosen another Broker....and no problems would come out for nobody !
Really difficult to understand how OctaFx doesn't realize that if he persist with this misleading behavior, his reputation will be destroyed in no time....and this will not be a big deal for him !
snapped2002
Master Sergeant
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- 256
I think I still have it on my work PC.
I will have to check on Sunday and see what I can do to help.
A Forum member said:
"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.
"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
Octa Representative
- Messages
- 242
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.
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.
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 feel 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 !!!!
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 feel 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 !!!!
A Forum Member said:
"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.
"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.
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