Octafx Stole my Profits

OctaFX Rep

octafx.com Representative
Messages
198
Dear ganthiraj,

We regret that you feel you needed to share your feedback with us twice.

As mentioned in our other reply, after investigating your case with our team, we concluded that your account was deemed in breach of our Customer Agreement, clause 4.8, for using arbitrage trading and suspended in compliance with our policies. We wish to remind you that such strategies as arbitrage are not allowed at OctaFX, and it's the primary reason your account was disabled.

By taking this chance, we wish to duplicate this clause from our Customer Agreement for our FPA community: "Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves a right to cancel such orders."

Also, we want to list the arbitrage trading indicators that our Analitycs team detected in your account:
  • High frequency of short duration orders. Even though your orders are not short, the net position you are making while reopening your orders usually does not last more than several seconds, indicating an arbitrage strategy;
  • High profit as a result of low orders' duration;
  • Reopening orders only shortly before strong market movements and ignoring weaker market movements;
  • Non-randomness of opening high-frequency orders on solid market movements.
We genuinely hope that our reply clarifies your message, but if you have further questions, please get in touch with us at support@octafx.com.

Kind regards,
OctaFX Rep.
 

ganthiraj

Private, 1st Class
Messages
50
Dear ganthiraj,

We regret that you feel you needed to share your feedback with us twice.

As mentioned in our other reply, after investigating your case with our team, we concluded that your account was deemed in breach of our Customer Agreement, clause 4.8, for using arbitrage trading and suspended in compliance with our policies. We wish to remind you that such strategies as arbitrage are not allowed at OctaFX, and it's the primary reason your account was disabled.

By taking this chance, we wish to duplicate this clause from our Customer Agreement for our FPA community: "Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves a right to cancel such orders."

Also, we want to list the arbitrage trading indicators that our Analitycs team detected in your account:
  • High frequency of short duration orders. Even though your orders are not short, the net position you are making while reopening your orders usually does not last more than several seconds, indicating an arbitrage strategy;
  • High profit as a result of low orders' duration;
  • Reopening orders only shortly before strong market movements and ignoring weaker market movements;
  • Non-randomness of opening high-frequency orders on solid market movements.
We genuinely hope that our reply clarifies your message, but if you have further questions, please get in touch with us at support@octafx.com.

Kind regards,
OctaFX Rep.
I used manual trading and my orders lived in the market from 5 minutes to several hours a long time and some trades over a day. so according to in your view, all profit makers are bad traders, for scamming people for not giving their profit you using useless points. Stop cheating people.
 

Anatoly M

Private, 1st Class
Messages
265
Dear ganthiraj,

We regret that you feel you needed to share your feedback with us twice.

As mentioned in our other reply, after investigating your case with our team, we concluded that your account was deemed in breach of our Customer Agreement, clause 4.8, for using arbitrage trading and suspended in compliance with our policies. We wish to remind you that such strategies as arbitrage are not allowed at OctaFX, and it's the primary reason your account was disabled.

By taking this chance, we wish to duplicate this clause from our Customer Agreement for our FPA community: "Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves a right to cancel such orders."

Also, we want to list the arbitrage trading indicators that our Analitycs team detected in your account:
  • High frequency of short duration orders. Even though your orders are not short, the net position you are making while reopening your orders usually does not last more than several seconds, indicating an arbitrage strategy;
  • High profit as a result of low orders' duration;
  • Reopening orders only shortly before strong market movements and ignoring weaker market movements;
  • Non-randomness of opening high-frequency orders on solid market movements.
We genuinely hope that our reply clarifies your message, but if you have further questions, please get in touch with us at support@octafx.com.

Kind regards,
OctaFX Rep.
I've seen a lot of cases, this case clearly looks like a burglar in broad daylight. I am now showing this case in many other English-speaking community of traders...everyone's hair stands on end from such a brazen deception.
 

Anatoly M

Private, 1st Class
Messages
265
I used manual trading and my orders lived in the market from 5 minutes to several hours a long time and some trades over a day. so according to in your view, all profit makers are bad traders, for scamming people for not giving their profit you using useless points. Stop cheating people.
Hello.You can also ask to GASO for help in solving your problem with scam OctaFx.
 

HeavenLeighRob

Master Sergeant
Messages
262
I've heard good things about this broker but this case just disgusted me. I hate to see people being taken advantage of and I'll be sure to warn others to avoid them. Even though you supposedly broke their agreement, it seems as though they've actually found an excuse to keep your money.
 

S34N76

Recruit
Messages
3
Dear ganthiraj,

We regret that you feel you needed to share your feedback with us twice.

As mentioned in our other reply, after investigating your case with our team, we concluded that your account was deemed in breach of our Customer Agreement, clause 4.8, for using arbitrage trading and suspended in compliance with our policies. We wish to remind you that such strategies as arbitrage are not allowed at OctaFX, and it's the primary reason your account was disabled.

By taking this chance, we wish to duplicate this clause from our Customer Agreement for our FPA community: "Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves a right to cancel such orders."

Also, we want to list the arbitrage trading indicators that our Analitycs team detected in your account:
  • High frequency of short duration orders. Even though your orders are not short, the net position you are making while reopening your orders usually does not last more than several seconds, indicating an arbitrage strategy;
  • High profit as a result of low orders' duration;
  • Reopening orders only shortly before strong market movements and ignoring weaker market movements;
  • Non-randomness of opening high-frequency orders on solid market movements.
We genuinely hope that our reply clarifies your message, but if you have further questions, please get in touch with us at support@octafx.com.

Kind regards,
OctaFX Rep.
arbitrage so bias, this is your good weapon ?
lose no arbitrage, win arbitrage..
money hard to earn in this industry..
why u can just pay the profits and banned him from your house? so weak..so weak
 

S34N76

Recruit
Messages
3
Dear ganthiraj,

We regret that you feel you needed to share your feedback with us twice.

As mentioned in our other reply, after investigating your case with our team, we concluded that your account was deemed in breach of our Customer Agreement, clause 4.8, for using arbitrage trading and suspended in compliance with our policies. We wish to remind you that such strategies as arbitrage are not allowed at OctaFX, and it's the primary reason your account was disabled.

By taking this chance, we wish to duplicate this clause from our Customer Agreement for our FPA community: "Using arbitrage strategies on linked markets (e.g. currency futures and spot currencies) is prohibited. In case the Client uses arbitrage in either clear or hidden way, the Company reserves a right to cancel such orders."

Also, we want to list the arbitrage trading indicators that our Analitycs team detected in your account:
  • High frequency of short duration orders. Even though your orders are not short, the net position you are making while reopening your orders usually does not last more than several seconds, indicating an arbitrage strategy;
  • High profit as a result of low orders' duration;
  • Reopening orders only shortly before strong market movements and ignoring weaker market movements;
  • Non-randomness of opening high-frequency orders on solid market movements.
We genuinely hope that our reply clarifies your message, but if you have further questions, please get in touch with us at support@octafx.com.

Kind regards,
OctaFX Rep.
arbitrage so bias, this is your good weapon ?
lose no arbitrage, win arbitrage..
money hard to earn in this industry..
why u can just pay the profits and banned him from your house? so weak..so weak
arbitrage so bias, this is your good weapon ?
lose no arbitrage, win arbitrage..
money hard to earn in this industry..
why u can just pay the profits and banned him from your house? so weak..so weak
this broker must be stamp "Scam" from FPA authority...Just because Octa participation Ad in this site, they still safe from stamp?
I respesct what FPA do in 2008 with instaforex stamp "scam" although they sponsor too in this forum.
So many complaint with proof for this octa broker and now still not Stamp?
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,697
this broker must be stamp "Scam" from FPA authority...Just because Octa participation Ad in this site, they still safe from stamp?
I respesct what FPA do in 2008 with instaforex stamp "scam" although they sponsor too in this forum.
So many complaint with proof for this octa broker and now still not Stamp?

If the FPA granted special protection to companies that showed banners, InstaForex would not have been given a scam label. I personally told the advertising department to pause their ad contract when they failed to give promised evidence and I personally told the ad department to pause the contract when they continued to refuse to provide evidence. That was the first time I killed an active ad contract with a company that abused FPA members, but not the last.

The FPA has developed specific rules for instituting scam labels. Otherwise, every complaint thread would get an "OK, it's a scam!" reply. Instead, the FPA tries to help clients and companies resolve issues. I never endorse specific companies. I can say that anyone checking this link will see an above-average percentage of resolved complaints.

I'm getting very tired of wasting my time repeatedly pointing to a set of rules stickied at the top of this folder to people who demand I ignore procedures that have been developed and upgraded since even before the Insta scam label was handed down. No other review site even has a procedure for this, and I'm beginning to wonder if I should just let people rely on the ratings and alerts on review pages instead of being accused of favoring whatever company wasn't immediately labeled as a scam to please someone.

If the OP wants his case to have more weight on OctaFx's rating and to be counted towards the potential for a Scam/No Scam vote, more evidence would be very helpful.

I'd like to see a trading statement with the comments field visible. That should let members further evaluate the conflicting claims about the nature of the OPs trades.
 
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