Discuss OctaFX.com

[foixx]

Moderator said:

"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]

Moderator said:

"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.

Dear foixx,

As per our latest post in your thread, 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.

 

[foixx]

Dear foixx,

As per our latest post in your thread, 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.

Sorry, but I need a more clear answer about my agreement proposal.

Are you able to ENSURE me a MINIMUM weekly payment of 10000 Eur? (obviously you can continue to pay me more, if you will have the possibility)

Only if you can do it, there will be an Agreement between us and the case can be considered solved.
I await your new reply, hoping in a direct and clear answer.

 

[foixx]

As usual ....only another little 5000€ weekly payment is arrived yesterday from the Broker.....75.000€ still blocked in my closed account.
Seems that he wants only to continue undaunted with his intentions, completely ignoring all my requests.

Dear @OctaFX Rep ....you have to understand that you are GUILTY, about this my issue.....from any angle we want to analyze the situation.

Hypothesis 1:

You wrote: "We typically process all withdrawals in one request, but in this specific case we had to ask foixx to submit several withdrawal requests".......(obviously avoiding to remark the critical point......you are paying me only one 5000€ request a week !)
So this means that my case is atypical and all the other clients can easily have completed their withdrawal requests all at once and with no this my 5000€ a week amount limitations (in fact I never had any problem to withdraw bigger amount, until I was one of your "loosing" and "well-liked" client).
I'm the only problem for you, is'n it?...in fact.... you wrote....."will not sacrifice other clients’ withdrawals to be able to satisfy foixx......", probably because you have already forcibly closed my account and I'm no longer your client....so no matter about my needs !
Well.....in this case....you are GUILTY without any doubt, because you don't have any right to discriminate me in this way, in relation to all your other clients.

Hypothesis 2:

At the same time, you contradict yourself, writing: "To clarify we never considered foixx’s case atypical.".....and...."It is not an uncommon practice to ask our clients to submit several withdrawal requests if it exceeds the limitation amount.".......(obviously avoiding to remark the critical point also in this case......repeat...you are paying me only one 5000€ request a week !)
So this means that my case is not atypical, and this is the common practice for clients that submits withdrawal requests with high amount.
OK...so this means that in this moment all of your clients can have completed only a 5k withdrawal request a week !....like me?
I really don't think so that it's the case (since....repeat.... I never had any problem to withdraw bigger amount with you before my account closure)......but if hypothetically this is the case........you are GUILTY as well, because you are purposely avoiding to clearly point out these very important payment limitations in your T.O.S., in order to inform your clients about what they have to expect, trading with you.

Because.....@AsstModerator....your wrote: "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."
....but seems that the problem is not for amount bigger than 10.000€ (since that I'm asking this weekly amount, in my agreement proposal)....the problem is for amount bigger than 5000€ ........and in addition...per week!....an even more serious problem......that sincerely...this appear absolutely not plausible for an international Broker....that prides himself in his website to have thousands of clients in more than 100 countries !!!

Dear @OctaFX Rep...I'm not sure that you realize completely the impact that...this your ambiguous and non-transparent approach about my issue ....could have for your reputation, in front of all the private forex traders here.
The only way to go for you, is to try to close this regrettable case, by reaching an agreement with me.

I would like to emphasize it again:
Currently, you are paying me a minimum of 5000€ a week (Ok...there is the possibility that you will pay me more sometimes....but ...who knows?...as you said: "This is determined by the demand in withdrawals."......but in any case....I'm talking about ...the MINIMUM)
Instead of these 5000€ minimum, are you able to ENSURE me a MINIMUM weekly payment of 10000 Eur?

You wrote me: "We wish to ask for your understanding.".......in fact, since it appears pretty clear that you have some serious financial problem, that you don't want to admit....I already gave up to ask you all my money back in 3 business day, in compliance of your Customer Agreement......but...you have to understand me as well.....more than 3 months are already passed since my forced account closure, without any more contact from you ....until now in this thread, (thanks to the FPA existence!)....and therefore....I can't wait another 4 months to have my money back...every week with only a 5000€ request completed !!!....."I wish to ask for your understanding."....must be valid also for you !

This is my last and best offer that I can propose you.....(meeting each other half way ....from our opposite positions, I think that it's the fairest thing to do....for people that have the will to reach an agreement)..... and if you accept it, I will consider this regrettable case resolved.
On the contrary, I will ask to the FPA staff to proceed with my Traders Court Case, going ahead with the public voting...... because I can't really accept that you want only to impose me any sort of your new "invented" rules.....never pointed out before and in total breach of your current and valid T.O.S......only with an unacceptable arrogance, showed to me until now.....................sorry...but this is my thinking !!!

Please let me know with a clear and direct answer.
Thank you.

 

[OctaFX Rep]

As usual ....only another little 5000€ weekly payment is arrived yesterday from the Broker.....75.000€ still blocked in my closed account.
Seems that he wants only to continue undaunted with his intentions, completely ignoring all my requests.

Dear @OctaFX Rep ....you have to understand that you are GUILTY, about this my issue.....from any angle we want to analyze the situation.

Hypothesis 1:

You wrote: "We typically process all withdrawals in one request, but in this specific case we had to ask foixx to submit several withdrawal requests".......(obviously avoiding to remark the critical point......you are paying me only one 5000€ request a week !)
So this means that my case is atypical and all the other clients can easily have completed their withdrawal requests all at once and with no this my 5000€ a week amount limitations (in fact I never had any problem to withdraw bigger amount, until I was one of your "loosing" and "well-liked" client).
I'm the only problem for you, is'n it?...in fact.... you wrote....."will not sacrifice other clients’ withdrawals to be able to satisfy foixx......", probably because you have already forcibly closed my account and I'm no longer your client....so no matter about my needs !
Well.....in this case....you are GUILTY without any doubt, because you don't have any right to discriminate me in this way, in relation to all your other clients.

Hypothesis 2:

At the same time, you contradict yourself, writing: "To clarify we never considered foixx’s case atypical.".....and...."It is not an uncommon practice to ask our clients to submit several withdrawal requests if it exceeds the limitation amount.".......(obviously avoiding to remark the critical point also in this case......repeat...you are paying me only one 5000€ request a week !)
So this means that my case is not atypical, and this is the common practice for clients that submits withdrawal requests with high amount.
OK...so this means that in this moment all of your clients can have completed only a 5k withdrawal request a week !....like me?
I really don't think so that it's the case (since....repeat.... I never had any problem to withdraw bigger amount with you before my account closure)......but if hypothetically this is the case........you are GUILTY as well, because you are purposely avoiding to clearly point out these very important payment limitations in your T.O.S., in order to inform your clients about what they have to expect, trading with you.

Because.....@AsstModerator....your wrote: "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."
....but seems that the problem is not for amount bigger than 10.000€ (since that I'm asking this weekly amount, in my agreement proposal)....the problem is for amount bigger than 5000€ ........and in addition...per week!....an even more serious problem......that sincerely...this appear absolutely not plausible for an international Broker....that prides himself in his website to have thousands of clients in more than 100 countries !!!

Dear @OctaFX Rep...I'm not sure that you realize completely the impact that...this your ambiguous and non-transparent approach about my issue ....could have for your reputation, in front of all the private forex traders here.
The only way to go for you, is to try to close this regrettable case, by reaching an agreement with me.

I would like to emphasize it again:
Currently, you are paying me a minimum of 5000€ a week (Ok...there is the possibility that you will pay me more sometimes....but ...who knows?...as you said: "This is determined by the demand in withdrawals."......but in any case....I'm talking about ...the MINIMUM)
Instead of these 5000€ minimum, are you able to ENSURE me a MINIMUM weekly payment of 10000 Eur?

You wrote me: "We wish to ask for your understanding.".......in fact, since it appears pretty clear that you have some serious financial problem, that you don't want to admit....I already gave up to ask you all my money back in 3 business day, in compliance of your Customer Agreement......but...you have to understand me as well.....more than 3 months are already passed since my forced account closure, without any more contact from you ....until now in this thread, (thanks to the FPA existence!)....and therefore....I can't wait another 4 months to have my money back...every week with only a 5000€ request completed !!!....."I wish to ask for your understanding."....must be valid also for you !

This is my last and best offer that I can propose you.....(meeting each other half way ....from our opposite positions, I think that it's the fairest thing to do....for people that have the will to reach an agreement)..... and if you accept it, I will consider this regrettable case resolved.
On the contrary, I will ask to the FPA staff to proceed with my Traders Court Case, going ahead with the public voting...... because I can't really accept that you want only to impose me any sort of your new "invented" rules.....never pointed out before and in total breach of your current and valid T.O.S......only with an unacceptable arrogance, showed to me until now.....................sorry...but this is my thinking !!!

Please let me know with a clear and direct answer.
Thank you.

Dear foixx,

You will receive a 10,000 withdrawal this week. We will do our best to ensure that this amount is being paid to you on weekly basis, so that your funds are paid out in most fluid and fastest way possible.

Regarding the Customer Agreement to which you keep refereeing it has been submitted for review to the higher management.

Kind regards,
OctaFX Rep.

 

[foixx]

Dear foixx,

You will receive a 10,000 withdrawal this week. We will do our best to ensure that this amount is being paid to you on weekly basis, so that your funds are paid out in most fluid and fastest way possible.

Regarding the Customer Agreement to which you keep refereeing it has been submitted for review to the higher management.

Kind regards,
OctaFX Rep.

Dear @OctaFX Rep ,
I'm almost moved...thank you.....this is the first time that you appear collaborative with me....and the most important thing for me was to be heard and not only ignored.

@AsstModerator , as I said, since an agreement appears to be reached, in these conditions I have no problems to be collaborative ...me too.
Few hours ago I have received a payment of 10.000€ with Neteller, and ..... if OctaFx will continue to assure me this amount on weekly basis......on my part this dispute can be considered resolved.

I will post again in this thread only if it will be further problems with these payments.....I really hope that this will not be the case.
I will confirm with a last post when the Broker will have concluded all the refund.

Thanks again to @AsstModerator and FPA all.... for all the help provided, in my opinion.....absolutely essential in order to solve this my issue.

 

[IrwanI]

Dear @OctaFX Rep ,
I'm almost moved...thank you.....this is the first time that you appear collaborative with me....and the most important thing for me was to be heard and not only ignored.

@AsstModerator , as I said, since an agreement appears to be reached, in these conditions I have no problems to be collaborative ...me too.
Few hours ago I have received a payment of 10.000€ with Neteller, and ..... if OctaFx will continue to assure me this amount on weekly basis......on my part this dispute can be considered resolved.

I will post again in this thread only if it will be further problems with these payments.....I really hope that this will not be the case.
I will confirm with a last post when the Broker will have concluded all the refund.

Thanks again to @AsstModerator and FPA all.... for all the help provided, in my opinion.....absolutely essential in order to solve this my issue.

Great,spend the money well

 

[IrwanI]

After almost 2 years with Octafx(cTrader Platform),i don't find any suspicious act from them,slippage,delaying order it happened sometime during the High impact news release but it's normal same as other broker even they claim have a very speed execution.

Mt4 swap free account have daily commision charge,not very suitable for Muslim trader.There is a lot of broker out there without any commision charge on swap free account.
Other than that,so far so good.
Withdraw to local bank(same method depositing) is very fast,less than one hour.

 

[OctaFX Rep]

After almost 2 years with Octafx(cTrader Platform),i don't find any suspicious act from them,slippage,delaying order it happened sometime during the High impact news release but it's normal same as other broker even they claim have a very speed execution.

Mt4 swap free account have daily commision charge,not very suitable for Muslim trader.There is a lot of broker out there without any commision charge on swap free account.
Other than that,so far so good.
Withdraw to local bank(same method depositing) is very fast,less than one hour.

Dear Irwanl,

We took note of your feedback both here and on ForexFactory.com and we would like to thank you for reaching out to us, we really appreciate it. We'd like to hear more from you. Could you please provide your account number and trades that were executed with slippage? We'd like to look into it. Also, what charge would you deem appropriate? Did you opt-in to our swap free account?

Looking forward to hearing from you.

Kind regards,
OctaFX Rep.

 

[IrwanI]

Dear Irwanl,

We took note of your feedback both here and on ForexFactory.com and we would like to thank you for reaching out to us, we really appreciate it. We'd like to hear more from you. Could you please provide your account number and trades that were executed with slippage? We'd like to look into it. Also, what charge would you deem appropriate? Did you opt-in to our swap free account?

Looking forward to hearing from you.

Kind regards,
OctaFX Rep.

Thank for your respond,i like it very responsive.I don't have any problem with Octafx,just forget about the slippage is just a small one,no big deal to me.
Second withdraw success to local bank less than 1 hour.i like it.
About the swap free account,yes i used it for 1 or 2 week,no swap but daily commision charge,in my opinion it still the same (swap change to daily commision)
Now i'm using cTrade,close all my position before the weekend,so no swap and no commision.

So far so good.I don't have any problem with Octafx.It is indeed my pleasure to stay with Octafx as my broker and introduce to other trader.