OctaFX embezzling?? Pending withdraw for 5000 USD and 5000 EUR! NEED HELP

OctaFX Rep

octafx.com Representative
Messages
176
You mention you have cut 4576.86 EUR from my account 6133190, are you not understanding??

THIS ACCOUNT WAS NEVER TRADED.. you paid profits out March 19.. If i deposit at a later date you CANNOT STEAL MY DEPOSIT because you previously paid profit ??

@FxMaster @4evermaat do you's understand what I'm trying to say??

@OctaFX Rep please issue the remaining 4576.86 EUR DEPOSIT back..this account WAS NEVER TRADED..


Dear shazz,

About your post, we wish to point to the fact that your profit was withdrawn right before your account was under investigation. As our team concluded the said investigation, it was found that your trading activity was in breach of our Customer Agreement. Hence p.3.11, which you posted here earlier was applied (a more detailed communication regarding the investigation was sent to you via e-mail). The said provision indicates that you will only be allowed to withdraw your initial deposit.

Considering that your profits were withdrawn, before we found that they were not earned in accordance with the provisions of the document mentioned above, we regarded them to be a part of the initial deposit and decided to continue with the partial refund.

Kind regards,
OctaFX Rep.
 

shazz

Private
Messages
11
it was found that your trading activity was in breach of our Customer Agreement. Hence p.3.11, which you posted here earlier was applied (a more detailed communication regarding the investigation was sent to you via e-mail). The said provision indicates that you will only be allowed to withdraw your initial deposit.



Considering that your profits were withdrawn, before we found that they were not earned in accordance with the provisions of the document mentioned above, we regarded them to be a part of the initial deposit and decided to continue with the partial refund.



My profits were deposited into my personnel account, I thank you for that quick transaction. But why do you not have something to safe guard your company from the likes of what has been accused to me. Why do you feel it right to embezzle what you can get back from money remaining in other accounts...
What account was being investigated? The one traded? - then why was it not that one where the original deposit of $5000USD held was affected with money retrieval?

NOTE: Account under investigation from 20-26th yet deposit button was highlighted for more money to be deposited.... Is this intentional?

26th March when I heard nothing I thought best to get my other money out being the 5000 EURO on a totally different untraded account. It was then you blocked all rights to your platform and informed me by email to not attempt to make any more withdrawals until further notice.

There has been no integrity in your relationship with myself as a customer. It seems you can hide behind the 3.11 accusations because you do not want to pay me what I am rightfully owed. "You have the right to terminate my activity within your service at any time if you reasonably suspect any inappropriate activity". You have not once explained yourself as to what it is that I am being accused of nor shown evidence of.

I made a profit: I withdrew a profit. I reinvested in your company and then you decide to take back whats mine to get your profits back. This is the simple solution it appears. Is your company loosing money if customers earn money?

By keeping my deposit that again was never traded and in a account that was NOT under investigation, you are admitting to embezzling money.

To clear this action are you willing to meet half way and only return my non traded 5000 EURO and I will forfeit the 5000 USD that was left in my traded account. Doing this will clear your name and put some trust into the community again.. (as everyone knows a broker has no right in keeping freshly deposited non traded money)
 

OctaFX Rep

octafx.com Representative
Messages
176
any updates on this? @OctaFX Rep

Dear shazz,

Upon registration with OctaFX, you are creating a Personal Area cabinet, which means that at the same time, a client profile is created on our system.

There we look at your activity as a sum of movements between all your trading accounts combined, be it deposits, withdrawals, profits, losses, etc.

What it means is that when p.3.11 of our Customer Agreement was applied, our team didn’t have to look at each of your trading accounts separately. As per the information that we sent you privately, your deposits were equal withdrawals, and whether they involved profits from traded accounts or not is irrelevant, because all that we had to look at is whether you were able to withdraw what you initially invested with OctaFX.

Kind regards,
OctaFX Rep.
 

The Reaper of F

Sergeant
Messages
198
and whether they involved profits from traded accounts or not is irrelevant
To my amazement, much surprise to how you answer a client. You're saying that profits isn't RELEVANT? Then, please entertain my question on how would/should a client withdraw their profits made with OctaFX thereafter? This is literally a scam.

The act of transaction in this business from a client perspective is simple, straightforward and no B.S. If OctaFX have no idea how it works, let me illustrate it for you in ELI5 terms;

The clients made a profit: they withdrawn the profits or have chosen to reinvest the money back into their trading account in which if they managed to made any profits, the profits are then available and accessible to the clients for withdrawals purposes. But, this seems to be the other way around, OctaFX?
 

shazz

Private
Messages
11
There we look at your activity as a sum of movements between all your trading accounts combined, be it deposits, withdrawals, profits, losses, etc.

It's obvious now how this company looks at a client, they are simply looking at how much they can extract from a client regardless of any trading activity.. even stealing non traded deposits in my case.. they never explained wtf I did wrong, hiding being the 3.11.. no proof... nothing..

They had no issues with my trades, hence why they paid profit.. (nothing was flagged)

The only thing that got "flagged" was me trying to withdraw all my money after I reinvested.. (without trading) (which I tried withdrawing since they changed my leverage).

@OctaFX Rep please explain to us how the company is making money if this is not the case?

@AsstModerator, is it time for a trader's court session for OctaFx's blatant deletion of profits across multiple scam alerts?

Please the company is just hoping we give up on the issue.. I think this thread alone is a clear indication the company doesn't care about trading but simply banking on peoples losses, profits and even deposits...

The company claims to be a "ECN" broker but is complete BS.. If this was the case, they would have no issues.. they should be making money on commission, spread and perhaps volume from their LP/s.. perhaps they can explain..

At what point in the logic of a legitimate broker do they need to embezzle money from non traded accounts.

With times as tough as they are, I would hate to think how many people are losing to this broker through their malicious bs.. this company does not deserve to be in this industry.

I'm not sure of how this forum fully works, but how do we sticky brokers to avoid or something.. this cannot keep happening..

Or someone explain to me how I just lost a total of ~ 16k AUD of no traded money to this company? Because they are yet to explain wtf I did wrong..
 

shazz

Private
Messages
11
They are trying to get away with stealing my money.. but lets not let them get away by having the reports buried in the threads... It needs to be known what OctaFx are up to..

never experienced anything like this with other brokers..

IMO: Is OctaFx a scam? Yes
 

Muhammad siddique

Private, 1st Class
Messages
52
They are trying to get away with stealing my money.. but lets not let them get away by having the reports buried in the threads... It needs to be known what OctaFx are up to..

never experienced anything like this with other brokers..

IMO: Is OctaFx a scam? Yes
They are scamer and eat alot people trading funds kindly help us all and Octafx case move to trader court and scam lable they have no worry about poor client plzz admin help huge people here waiting for justice . Plzz move case to trader court huge complain against scamer Octafx we need justice
 
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