Octafx: Unfair exchange rate!!

adiys

Private
Messages
11
I withdrew the money in March of about 30,000 usd. by octafx, my funds are partially required to return to a credit card of 19,955.98 usd. I asked if I still can send it to my bank. but if that's the rule that must be done, I'm fine.
so the rest is sent via bank transfer. and my money came in at the current exchange rate to my bank.
but what really problem is what goes into my credit card. Other brokers use the current rate when returning to my credit card. from us dollar to IDR rupiah.
but octa fx uses the exchange rate when I make a deposit. where the rate is lower when sending to a credit card time. deposit in late january and early february. so if using the exchange rate at that time (march), I did not receive USD 19,955.98. but rather around USD 19,000. because of the difference in the current exchange rate and the time of deposit.

I ask Octafx. If I deposit a high USD / IDR rate, does Octafx still use a high rate when i withdraw even exchange rate is low? octafx answered no. they will use the exchange rate when withdrawing.

this is a very unfair!

when I deposit at a low exchange rate, when withdrawing funds at a high exchange rate, octafx uses the exchange rate at the time of deposit.
but on the contrary, when I deposit with a high exchange rate, I withdraw funds at low exchange rate time, then Octafx uses the current exchange rate.

I request that Octafx can explain to me.

I have sent a complaint email but Octafx gave reasons that could not be accounted for. they said that my case was a refund. not withdrawal. What?
then what if it happened backwards you used the exchange rate at that time?

whereas, the rules of the octafx, refunds occur only in 2 conditions.
1. I did not give identification ID data within one month.
2. I am not satisfied with octafx's service conditions

so obviously, I made a withdrawal of funds. not a refund.

this is email from octafx
Inkedpenjelasan refund forum.jpg

This is last email from octafx
octafx last natan.jpg


Please Octafx. fix this problem.

does anyone in this forum have experience with exchange rates with other brokers like this?
Thank you
 

OctaFX Rep

octafx.com Representative
Messages
173
sorry forget. My Octafx account is 6010563
Dear adiys,

Please allow us to look into your complaint and check it with our team. We'll get back to you as soon as we can.

Kind regards,
OctaFX Rep.
 

4evermaat

2nd Lieutenant
Messages
1,849
Please Octafx. fix this problem.

does anyone in this forum have experience with exchange rates with other brokers like this?
Thank you
Of course a proper agency broker wouldn't have done this. But if you have read some of the other complaints, you should be happy you got something back already :)

Not excusing bad behavior, but just saying it could be worse.
 

adiys

Private
Messages
11
Of course a proper agency broker wouldn't have done this. But if you have read some of the other complaints, you should be happy you got something back already :)

Not excusing bad behavior, but just saying it could be worse.
yes. I read a lot of octafx issues in this forum. thank you
 

OctaFX Rep

octafx.com Representative
Messages
173
thank you for you help
Dear adiys,

We wish to clarify that in case of refunds we will send you the exact amount of funds you deposited, as it is not a withdrawal request to which exchange rates apply. That is because the request you made on our system is simply reversed based into your bank account, as opposed to a new request being created.

Moreover when our team contacted you asking if you agree to the refunds you agreed to it.

Kind regards,
OctaFX Rep.
 
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