Resolved: Octa Fx unilateral changing partial closes

Messages
12
This is a matter where Octa Fx.com unilaterally changed/Interfered with my partial close order execution without my permission to wipe out my live account.
The account is not even 1 month old and although I also trade live accounts at two other brokers I have used the same partial close of orders as a money management mechanism to protect my account from running into a margin call without any problems at my other two brokers.
However, with Octa Fx I received the shock of my life to find that my account had been wiped out by them in a dishonest manner by closing my full 0.05 lot size to take $327.00 from my balance instead of the 0.01 lot size ($ 82.00) that I had executed, and when I queried their actions I was simply told via email the following: "When using a partial close option on MT4 platform, the whole order is closed and a new order with the rest of the volume is opened."
This action (which I believe is a fraudulent action if they change or interfere with a legal order execution by a trader) pushed me into a margin call and wiped out my whole account.
I do not think that Metatrader 4 is aware of this practice by Octa Fx.com to grab traders' money in this dishonest manner when the trader is not aware of this household rule that they will close the full order if you dare to take a partial close to protect your funds.
I would be very grateful if the FPA could help me in any way to recover my other money from them.
The order ticket where I did a partial close is the following: Order Ticket 115613750.
Enclosed please find all my trade records from the date of deposit for those few days.

Yours Sincerely,

Freddie Lottering
 

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  • Ota (A1).pdf
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This is a matter where Octa Fx.com unilaterally changed/Interfered with my partial close order execution without my permission to wipe out my live account.
The account is not even 1 month old and although I also trade live accounts at two other brokers I have used the same partial close of orders as a money management mechanism to protect my account from running into a margin call without any problems at my other two brokers.
However, with Octa Fx I received the shock of my life to find that my account had been wiped out by them in a dishonest manner by closing my full 0.05 lot size to take $327.00 from my balance instead of the 0.01 lot size ($ 82.00) that I had executed, and when I queried their actions I was simply told via email the following: "When using a partial close option on MT4 platform, the whole order is closed and a new order with the rest of the volume is opened."
This action (which I believe is a fraudulent action if they change or interfere with a legal order execution by a trader) pushed me into a margin call and wiped out my whole account.
I do not think that Metatrader 4 is aware of this practice by Octa Fx.com to grab traders' money in this dishonest manner when the trader is not aware of this household rule that they will close the full order if you dare to take a partial close to protect your funds.
I would be very grateful if the FPA could help me in any way to recover my other money from them.
The order ticket where I did a partial close is the following: Order Ticket 115613750.
Enclosed please find all my trade records from the date of deposit for those few days.

Yours Sincerely,

Freddie Lottering
@OctaFX Rep, Can we have your attention here, please?
 
This is a matter where Octa Fx.com unilaterally changed/Interfered with my partial close order execution without my permission to wipe out my live account.
The account is not even 1 month old and although I also trade live accounts at two other brokers I have used the same partial close of orders as a money management mechanism to protect my account from running into a margin call without any problems at my other two brokers.
However, with Octa Fx I received the shock of my life to find that my account had been wiped out by them in a dishonest manner by closing my full 0.05 lot size to take $327.00 from my balance instead of the 0.01 lot size ($ 82.00) that I had executed, and when I queried their actions I was simply told via email the following: "When using a partial close option on MT4 platform, the whole order is closed and a new order with the rest of the volume is opened."
This action (which I believe is a fraudulent action if they change or interfere with a legal order execution by a trader) pushed me into a margin call and wiped out my whole account.
I do not think that Metatrader 4 is aware of this practice by Octa Fx.com to grab traders' money in this dishonest manner when the trader is not aware of this household rule that they will close the full order if you dare to take a partial close to protect your funds.
I would be very grateful if the FPA could help me in any way to recover my other money from them.
The order ticket where I did a partial close is the following: Order Ticket 115613750.
Enclosed please find all my trade records from the date of deposit for those few days.

Yours Sincerely,

Freddie Lottering
Thank you FX Master for your prompt attendance to my problem...a gentleman by the name of Dillan from Octa Fx compliance dept. just sent me an email to inform me that they will restore my trading account.
 
What country did you sign up with Octa from?
Why did you decide to use Octa out of the thousands of other brokerages out there?
 
I live in Cape Town South Africa and although I still trade another live account with another broker, I decided to try out Octa Fx on the recommendation of my Son who also trades with them based on their no commission and no swap fees.
They have decided to restore my trading account to the position it was before and I have accepted their offer, but I still await the refund back into my account.
I shall keep you posted on any further developments.
 
I live in Cape Town South Africa and although I still trade another live account with another broker, I decided to try out Octa Fx on the recommendation of my Son who also trades with them based on their no commission and no swap fees.
They have decided to restore my trading account to the position it was before and I have accepted their offer, but I still await the refund back into my account.
I shall keep you posted on any further developments.
Is there any update on the resolution yet?
 
Yes, Fx Master, when I opened my trading platform today I noticed that they have restored my trading account with the full credit.
Thank you for being available to the very vulnerable retail traders as a refuge for whom they can take their stories.
 
Yes, Fx Master, when I opened my trading platform today I noticed that they have restored my trading account with the full credit.
Thank you for being available to the very vulnerable retail traders as a refuge for whom they can take their stories.
It`s always good to see resolved cases. Yo mods, can you please mark and move it to the resolved folder??

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