Octafx is a big scam!! Held all my profits plus deposit!!

[stevesmain]

can you sat turtle? here we go again!

 

[john_marquisFX]

OctFX is registered in a faraway island on the Atlantic ocean called (ST. Vincent) it seams that this broker in not a decent one.

Definitely not decent

 

[navyseal]

While REMOVED I see very decent with some good feedbacks, OctaFX is contrary.

FPA Forums Team Note: Recommending a different broker inside of someone's scam thread permanently ties the name of the recommended broker to the issue being complained about.

 

[FraudKiller]

This thread is really strange. First, "trading the news" haws nothing to do with trading forex. Rather, it is about taking almost NO risk because there is an above-average probability that an announcement by a central bank etal will move the market. So, let's be honest, "trading the news" is a simple arbitrage game and such traders should go play billiards in a smoke-filled billiards hall. Second, if someone hacks your account then a broker should treat the even just a bank issuing an ATM card or a credit card company issuing a credit card would i.e. the moment you contact the broker to report the event, they should freeze your account until you identify yourself and authorise them to unfreeze. Any other behaviour is suspicious. Third, where a company is registered and the jurisdiction that regulates them is an utter meaninglessness. WHY? Because these regulatory bodies will almost always come down on the side of the company and not the client because, anything more than "light-touch" regulation will just make brokers chose another jurisdiction. Ever wonder why most brokers are in Cyprus? Hmmm, CySEC regulate brokers that offer binary options that are a complete fraud and a license to steal. CySEC is more like "No touch" regulation.

I have a personal policy of avoiding any broker with a head office in Cyprus or Australia.

 

[FraudKiller]

The only questions to ask about OctaFX (or, any broker actually) are along the lines of:
What is the cost of each of my trades to the broker?
Does my broker make enough profit to stay in business?
And, all the obvious question that form any due diligence whether you have the time and money to travel to the head office of the broker or not.