OctaFX Is SCAM: The confirmation - that I'm too busy with crazy arguments to get helped.

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J

JordanN

Guest
OctaFX is turning into a scam broker and here I will tell you my story and all lies OctaFX told me. A brokerage company which lies their clients must be immediatelly classified as a SCAM.

So...

On 12 January I noticed that I had commissions accumulated from a referred client to OctaFX above $7. The client himself had traded an impressive amount of lots - above 62 standard lots by far. I decided to withdraw the commission via Perfect Money because previously I didn't have any option to withdraw money. The only acceptable option was MasterCard and I was told I couldn't withdraw with it because the card operator had issues and that option was not active. Anyway, I requested a $7 withdrawal to Perfect Money and it got rejected with comments "Please use Skrill". Then I realised that they are joking with me and I will not receive any funds from them. I requested another withdrawal and it got rejected again. I contacted the support and explained what was happening and that there is no option for Skrill deposits or withdrawals and I want to withdraw to Perfect Money.

They resolved the problem after several hours and my third request for the day was successful, the sum of $7 was received to my PerfectMoney wallet.

However, on 22 January ( Friday ) I logged in and noticed that I had above $5 in generated commissions and requested a withdrawal worth $5. Well, guess what. It was marked as "complete" but money never came to my account.

I contacted the support and I was adviced to wait for 24 hours. I told them that this is Perfect Money and trasnferring of funds is instant and on their website they state processing time is up to 5 minutes. After 24 hours I contacted them again with a request to receive the Batch number of the transaction as I was asured that it was processed. They didn't provide me with this number. It means they never processed the transaction!

On 25 January ( Monday ) I contacted them once again to receive the Batch number. I was told to wait, they would contact me later. They didn't. So, on 25 January I decided to ask once again. I was told that they will speed up the payment which proves that they never sent the money and they were lying me 3 days that my withdrawal has been processed.

I left a negative rating here but it was not accepted. Maybe negative reviews are not accepted if the broker is sponsoring.

FPA Review Moderation Team Note: Open your eyes. Look at the first 10 reviews on OctaFX's review page. As your eyes, if you use them, will show you, there are several 1 and 2 star reviews just in the first 10 reviews. Go ahead and click the button to show 50 reviews. Are you still having trouble seeing the 1 and 2 star reviews mixed in with other reviews?

Why are you trying to start a false conspiracy theory when the evidence is right there staring you in the face?

Then try to leave a new review for OctaFX and open your eyes again. Do you see where it says...


I certify that:
1. My review is my own opinion based on my personal experience with the reviewed company
2. I have not been offered any payment or other incentive (like a bonus or discount) to write this review

3. I have no business or personal relationship with the reviewed company or any of its competitors, except as a client

Read #3 a few more times and think about it. You are an IB. You have a business relationship with OctaFX outside of being a simple client. Most IB reviews are 5 stars, since IBs want to promote brokers. IBs are NOT permitted to leave reviews, good or bad.

We work very hard to keep the reviews as fair and honest as possible. We do not appreciate people attacking us when all they had to do was read the review page and read the review submission form to realize their attack had no basis in fact.

IBs are allowed to open threads in Scam Alerts, to seek help from other FPA members, and to invite companies to join the discussion.


I attach the last withdrawals. ID W2048063 was marked as "complete" but money never sent. In fact, they started lying that they had sent them until one of the support sent excuses that they will send the money and he will speed up the process. Nothing in my account...

all withdrawals.png


Emtpy account after their support asked for proof:
chat Sharon.png


Account history requested in chat:
PM account balance.png


Previously, they didn't want to proccess the transaction of $7 and they declined several times my requests:

Please use Skrill.png


Available options (Mastercard they told me didn't work):

available options.png


So, fellow traders, if you have money invested there, try to withdraw ASAP. If they refuse to pay me $7 and then $5 which are extremely small sums, they will obvously try to scam you and refuse to pay you the large amounts of money. In addition to that, their support sucks. They confirmed several times that the transaction had been processed and I should wait 24 hours. It means "Get out of my head" if you still don't know. Later, it was confirmed the transactions was not completed, money never sent, althought withdrawal request has been marked as "complete". They are just trained to lie their clients.

Firstly, I received a confirmation that money were sent:

The Scammers Confirm They Had Sent The Money:
Luna OctaFX: Our relevant team in the Finance Department have already sent funds to your account. Therefore, kindly allow up to 24 working hours as it is depending on the operating speed at payment system in Perfect Money
chat money sent.png


But then...several days later, another one from the support states they were not sent and he will speed up the process:

last chat.png


Don't be a victim of these scammers! They even claim that their spreads is from 0.2. There is no such spread. For EUR/USD is minimum 1.2 pips. Maybe they had a technical error replacing the number 1 with 0 and instead of 1.2, they now advertise 0.2. It's fake!
 
J

JordanN

Guest
FPA Review Moderation Team Note: Open your eyes. Look at the first 10 reviews on OctaFX's review page. As your eyes, if you use them, will show you, there are several 1 and 2 star reviews just in the first 10 reviews. Go ahead and click the button to show 50 reviews. Are you still having trouble seeing the 1 and 2 star reviews mixed in with other reviews?

Why are you trying to start a false conspiracy theory when the evidence is right there staring you in the face?

Then try to leave a new review for OctaFX and open your eyes again. Do you see where it says...


I certify that:
1. My review is my own opinion based on my personal experience with the reviewed company
2. I have not been offered any payment or other incentive (like a bonus or discount) to write this review

3. I have no business or personal relationship with the reviewed company or any of its competitors, except as a client

Dear Moderators, if you think that trading with real money and processing a deposit with OctaFX is not a business, then you should read some books and learn the basics of trading and tax laws. It doesn't matter whether I receive money as a commission from a referred client or I earn money from trading by myself. I do both! And so far I've lost above $1,000 with this broker but when I request a small amount that has been generated from a commission, I expect it to be paid.
I am a client either ways and don't have personal relationship with this broker.
This is not a
false conspiracy theory
If you think it is, that must be because your pay comes from their advertising expenses here. A classic "Conflict of Interest" case.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,621
My moderators wanted to take this but I told them I'll deal with it.

You are an affiliate of OctaFx. That is a business relationship above and beyond being a simple client. This is exactly the same as someone leaving a review any product where they have an affiliate relationship with. The FPA's reviews were designed to discuss dealing with companies as a client. The reviews were not designed for employees who aren't getting paid or for affiliate marketers having trouble collecting commissions.

If your review is accepted then fairness would dictate permitting reviews from happy affiliates who are getting paid and don't care how brokers treat traders. That's not going to happen while I'm in charge of the reviews.

The FPA's advertising department has relationships with many forex companies. If they didn't, the FPA wouldn't have enough money to survive the hacking attempts and DDoS attacks from companies that want to erase complaints.

I and my review moderators make the people in advertising very unhappy. We make the advertisers unhappy too. We do this by treating all reviews, positive or negative, the same way for all companies without regard to whether or not those companies advertise with the FPA. Advertising dollars spent at the FPA buy banners, not preferential treatment.

Your conspiracy theory is false, but it looks like you didn't go to the OctaFx review page to see how false it is.

You claim the rejection of your review is biased, even though the review submission form makes it clear you should not have submitted that review or the second review where you omitted the fact that you are an IB. Before making up your false conspiracy theory (even before the 5 business days the FPA promises for review approval), you could have clicked the Contact Us link on the bottom of any page in the FPA's forums and reviews. Then you would see an option for review questions. The most commonly asked question, right up near the top of the list, is...

Hey Dude, Where's My Review?

This page reiterates that reviews may take up to 5 days to be approved. This information is displayed twice when you submit a review, but you must have forgotten it. Otherwise, you wouldn't have felt the need to make up a conspiracy theory after less than 4 days. The page also makes it clear that the FPA stopped accepting IB and affiliate reviews sometime back.

You also appear to have ignored where my moderators told you to use your eyes and look at the OctaFx review page. It's here...

Octa FX | Forex Broker Reviews | Forex Peace Army

They asked you to use your eyes and see that the FPA isn't blocking negative reviews for OctaFx. In case you are too lazy to click the link, I will summarize the page.

As of this moment, OctaFx has 273 reviews with an average rating of 3.039. The most recent approved review is from January 12, 2021. It is a 1 star review. The ratings of the first 10 reviews are...

1 Star
5 Stars
2 Stars
1 Star
No Rating
5 Stars
1 Star
1 Star
2 Stars
4 Stars

The average of the 9 reviews that are rated is 22 stars/9 reviews = 2.444 stars.

Deleting a review takes only one mouseclick. If your conspiracy theory was true, why are OctaFx's most recent reviews averaging less than their overall reviews? If I or my team decided to filter out negative reviews for OcaFx, why isn't their rating 4.5 stars or higher?

There are two possible answers...

1. The FPA is corrupt, but is too incompetent to remove the reviews you claim we're being paid to remove. If this was true, companies would stop paying the FPA to remove reviews, since paying to remove bad reviews isn't working.

2. The FPA is very honest and only filters out unqualified reviews and spam. Money doesn't change whether or not reviews get approved.


You have 3 choices...

1. Keep on making up silly fake conspiracy theories that are not supported by the facts.

2. Apologize for wasting time and effort with false conspiracy theories and see if anyone here can assist you in recovering the $5 you say was not delivered to you in a timely fashion.

3. Get out there and create your own forex forum and reviews site. Show everyone how perfectly you are by having no affiliate relationships, running any ads, or accepting cash from anyone since that could be considered a conflict of interest. Do this while enduring hacking attempts, DDoS attacks, and lawsuit threats. Just remember, any time you do anything that some new member doesn't like, you can still be falsely accused of conspiring against that member. Then you'll either have to ban the person or waste a lot of your time explaining the facts. You'll also be accused of supporting blackmailers by many brokers every time you allow someone to post a compliant against the broker. You'll be wasting a lot more of your time on pointless email arguments with broker representatives.
 
J

JordanN

Guest
You are an affiliate of OctaFx. That is a business relationship above and beyond being a simple client. This is exactly the same as someone leaving a review any product where they have an affiliate relationship with. The FPA's reviews were designed to discuss dealing with companies as a client.

@AsstModerator , I am a client just like any others. I upload a screenshot of my recent trading activity.
trading activity.png


It looks like the censorship is everywhere and you think yourselves for Gods. Well, you are not! You are noone to decide what are my relationships with a broker. If you state you publish Unbiased reviews, then you don't need moderators to judge what will be published and what will not. Else, you should change your advertized texts to BIASED reviews.
Your actions just ruined the trust in each and every review I read here....It's all I can say based on my personal experience. If someone decides whether a certain review will go online of remain hidden, this is a perfect example for censorship. Taking into account that you get paid from the companies whhich reviews you publish, well...I have full right to raise my concerns and add that my negative review for the company I am opening a thread and where I state that they are scam because my withdrawal was not processed and they lied it was, was not published.
If you want you can delete me, delete my thread, ban me or whatever....
My review is already published on Trustpilot and I have explained everything there...I guess this is already "unbiased".

But If someone still wants to know...OctaFX still owes me $5. They are still speeding up the process and telling me to wait, I will "receive my funds in the soonest time", whatever that means, it is still undefined. Their support is just a waste of time, they don't provide any help or give you any information. Just standard answers to wait, they will contact you ( no, they wont! ), money were sent ( but they refused to give me the unique transaction number, Batch number for the transaction ).
So, this is final, deposits to OctaFX will be cut down to 0. If they lie that money were sent, then they are trained scammers and they will not hesitate to steal money whenever they can.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,621
Let me quote what you certified again. It says...

3. I have no business or personal relationship with the reviewed company or any of its competitors, except as a client

It does not say...

3. I have a business or personal relationship with the reviewed company or any of its competitors, but it's ok for me to ignore this conflict of interest because I am also a client

By your reasoning, Bill Gates could leave an unbiased review for Microsoft Office because he uses MS Word and Excel. Who cares if he's the former CEO of the company and still holds billions in stock? Who cares of every new sale of Office contributes to making all that stock more valuable. He uses the product so is allowed to leave reviews for it. Similarly, you would allow an independent Microsoft affiliate to leave reviews for Microsoft products while also collecting commissions on sales.

The US Federal Trade Commission disagrees with your reasoning. So do I.

You also claim that moderating reviews is censorship and make the reviews unfair. That's as sensible as claiming that all referees, no matter how unbiased, interfere with sportsmanship and make all games unfair.

You've obviously never seen an unmoderated review site. At such a site, one person could leave hundreds of reviews under different names. Sites like that also quickly fill with spam. The same would happen at the FPA without moderators. There's even an FAQ question that covers your censorship accusation. You can find that and much more useful information here...

Forex Peace Army Reviews Questions

The FPA is unbiased the same way a good referee is unbiased. Both have rules for acceptable and inacceptable actions. The FPA's rules are designed to ensure a level playing field. The rules are evenly enforced without regard to which company the review is left for and whether the review is positive or negative. The FPA even has special penalties when a company's employees are caught leaving fake "client" reviews.

The FPA's methods are not perfect. Instead, I've been improving them over and over again since I took charge of the reviews in 2008. I've seen obvious spam reviews the FPA rejected on display on other review sites. If anyone has rational ideas about how to improve the FPA's reviews, please check the FAQ first. If the idea is not covered, contact me directly.

If you don't like the rules, you are free to take your ball and set up your own "uncensored" playing field. Scam companies will love it if you let them attack competitors while promoting themselves. Spammers will love that they can use your reviews to sell their products. Recovery room scammers will thank you for letting them prey on those who submit genuine complaints. Angry clients will be thrilled to be able to attack a company with large numbers of one star reviews under different names.
 
J

JordanN

Guest
The broker is still refusing the provide me with the batch number of the transaction. They are just wasting my time asking me everyday for the screenshots of the purse. The same screenshots everyday!!!!!!
If they were an honest brokerage company,they would provide me with this number during the first hours. Since I am waiting for a week for this number OR the money to touch my account, I assume they just scam people by not paying them and providing them with false statements that money were sent and you should wait but they will never provide you with the confirmation of the transaction.

I requested the topic to be deleted, this forum is just as corrupt as Octaforex.
Now they disappeared and appeared later with a new domain - OctaFX.NET
octa new domain.png


Maybe moderators instead of telling me in what relationship I was with this broker should write that OctaForex is a confirmed scam. But I doubt since they receive money from them for advertising.

I strongly recommend to stay away from these crooks and don't believe in everything said in this forum as a positive review for brokers which sponsor the page. It can be fake.
Reviews without any information are published but my review that included transaction numbers and proves for scam was not. This forum is just useless.
 

sam.peters

Corporal
Messages
101
Let me quote what you certified again. It says...

3. I have no business or personal relationship with the reviewed company or any of its competitors, except as a client

It does not say...

3. I have a business or personal relationship with the reviewed company or any of its competitors, but it's ok for me to ignore this conflict of interest because I am also a client

By your reasoning, Bill Gates could leave an unbiased review for Microsoft Office because he uses MS Word and Excel. Who cares if he's the former CEO of the company and still holds billions in stock? Who cares of every new sale of Office contributes to making all that stock more valuable. He uses the product so is allowed to leave reviews for it. Similarly, you would allow an independent Microsoft affiliate to leave reviews for Microsoft products while also collecting commissions on sales.

The US Federal Trade Commission disagrees with your reasoning. So do I.

You also claim that moderating reviews is censorship and make the reviews unfair. That's as sensible as claiming that all referees, no matter how unbiased, interfere with sportsmanship and make all games unfair.

You've obviously never seen an unmoderated review site. At such a site, one person could leave hundreds of reviews under different names. Sites like that also quickly fill with spam. The same would happen at the FPA without moderators. There's even an FAQ question that covers your censorship accusation. You can find that and much more useful information here...

Forex Peace Army Reviews Questions

The FPA is unbiased the same way a good referee is unbiased. Both have rules for acceptable and inacceptable actions. The FPA's rules are designed to ensure a level playing field. The rules are evenly enforced without regard to which company the review is left for and whether the review is positive or negative. The FPA even has special penalties when a company's employees are caught leaving fake "client" reviews.

The FPA's methods are not perfect. Instead, I've been improving them over and over again since I took charge of the reviews in 2008. I've seen obvious spam reviews the FPA rejected on display on other review sites. If anyone has rational ideas about how to improve the FPA's reviews, please check the FAQ first. If the idea is not covered, contact me directly.

If you don't like the rules, you are free to take your ball and set up your own "uncensored" playing field. Scam companies will love it if you let them attack competitors while promoting themselves. Spammers will love that they can use your reviews to sell their products. Recovery room scammers will thank you for letting them prey on those who submit genuine complaints. Angry clients will be thrilled to be able to attack a company with large numbers of one star reviews under different names.
Can't believe how much time you've spent writing out these thought out responses to this guy.
Whilst it definitely creates the clear picture of transparency you're aiming to achieve here - some people would just rather stick their head in the sand.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,621
OctaFx did not disappear. For some reason, they moved from .com to .net. The .com domain name forwards to the .net domain name, so clients should not have any issues locating them.

JordanN PMed to to request that his account and this topic be deleted. The FPA doesn't erase complaints. Instead, the FPA trues to resolve complaints, at least when the person complaining is willing to act rationally. JordanN's request to have his account be deleted has been honored.

It is a pity that JordanN was so focused on arguments about whether or not him being paid to represent OctaFx for bringing clients to them is a relationship above and beyond being a client. According to the US Federal Trade Commission, it is. The FPA is based in the USA and follows US law.

If he was rational, it would have been simple for him to use the built in company invitation feature to ask OctaFx's representative to come and resolve his complaint. I'm not sure what the issue is with the $5 he's owed, but I've seen how getting a company representative involved can often resolve problems like this.

If I was working on behalf of OctaFx, I would erase this thread. I'm not. This thread will remain. Based on JordanN's irrational behavior, I'm now moving this thread to the Forex Insanity folder.
 

Alonedevils

Master Sergeant
Messages
315
The broker is still refusing the provide me with the batch number of the transaction. They are just wasting my time asking me everyday for the screenshots of the purse. The same screenshots everyday!!!!!!
If they were an honest brokerage company,they would provide me with this number during the first hours. Since I am waiting for a week for this number OR the money to touch my account, I assume they just scam people by not paying them and providing them with false statements that money were sent and you should wait but they will never provide you with the confirmation of the transaction.

I requested the topic to be deleted, this forum is just as corrupt as Octaforex.
Now they disappeared and appeared later with a new domain - OctaFX.NET
View attachment 61565


Maybe moderators instead of telling me in what relationship I was with this broker should write that OctaForex is a confirmed scam. But I doubt since they receive money from them for advertising.

I strongly recommend to stay away from these crooks and don't believe in everything said in this forum as a positive review for brokers which sponsor the page. It can be fake.
Reviews without any information are published but my review that included transaction numbers and proves for scam was not. This forum is just useless.
FYI .. The .com domain still accesible ..

are their service users since the beginning I learned about trading, and they always send money to me .. yes it sometimes takes a bit longer .. but they pay ..

FPA Forums Team Note: We've confirmed that OctaFx.com was down for a short period. Then it temporarily forwarded to OctaFx.net. Now it's back up and functioning normally.
 
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