Resolved - OCTAFX.COM SCAM, Account Blocked, Deposit Profit NOT REFUNDED !

[KentutD]

I see the case above,
OctaFX steal and do not want to pay
I see only an old-fashioned reason that is always in use OctaFX
I will show some Scam OctaFX

1.Hiden Spread (Pluqin)
2.Slipage (Pluqin)
3.server so slow (pluqin)
4.You profit over 200% disabled account
5. If the client profit many reasons always ask the document (see the hundreds of cases like this in OctaFX) a lot in forexpeacearmy
6.Tidak want to pay profit clients (Only refun deposid course) but if the loss OctaFX clients happy
7.Octafx like stealing, deposid and profit clients, unilaterally closed the account in order not to pay clients

The above is a classic way and I am very familiar OctaFX

 

[ezoforx]

This is so true.. Everything stated here about Octafx FOULS play are all true.. My account was successfully verified by submitting front and back NRIC and bank statement as proof of residence. When we loss, everything was just fine. But when we make some profit they will play a lot of tricks on you. Octa will set you on delay execution, random slippage on entry and exit and to the extreme DISABLE ACCOUNT.

When you request withdrawal they will delay your withdrawal request and then you will get email saying that your account is under investigation. Reasons given was account might have been involved in fraudulence activity or accessed by third party and requesting notarized document as proof of identity to be sent to the Robinson Crusoe's far away island. The address is P.O box in Saint Vincent and Grenadines. When ask why not to give the HQ address so that somebody can sign and accept the document they insist to me to send the document to the P.O box address. Further research of the HQ address shows that they operate in Villa.. Hmmm what kind of broker is this operating from villa???

I would suggest, FPA to start making court case for Octafx, let FPA users vote for this kind of malicious activity. Also award them with the best scam broker of the year.

I heard Octafx is also a sponsor for Indonesian football team, for all Indonesian traders I would suggest talk to your local newspaper or TV in your country about this scam and also request to the football association to revoke the sponsorship.

 

[Pharaoh]

Funding 8 accounts from the same Skrill account is a violation of AML rules.

If you want to trade for someone, they need to fund their own account. The two of you also need to file an LPOA with the broker.

I don't always agree with OctaFx, but in this case, I believe their actions are correct and well within industry standards. The rules where clearly broken, but OcatFx refunded the initial deposit anyway. As far as I'm concerned, the OP's issue is resolved.

If someone else has another issue with Octa, they need their own thread.

 

[Master Yoda]

Funding 8 accounts from the same Skrill account is a violation of AML rules.

Pharaoh, I just wonder why OctFX are allowing the deposit and the trading but then and only when there a withdrawal involved they remember the AML?

Why they are not rejecting the deposit? it makes me wonder if the client loses then everything is OK.

 

[Ibrahim Adam]

Pharaoh, I just wonder why OctFX are allowing the deposit and the trading but then and only when there a withdrawal involved they remember the AML?

Why they are not rejecting the deposit? it makes me wonder if the client loses then everything is OK.

That is because deposits are automated while withdrawals are not,they check if everything is ok with your account when u try to withdraw..i am gonna have to go with Pharaoh in this one,you can't just fund 8 accounts from one skrill account,this is clear AML violation...not guilty

 

[Master Yoda]

That is because deposits are automated while withdrawals are not,they check if everything is ok with your account when u try to withdraw..i am gonna have to go with Pharaoh in this one,you can't just fund 8 accounts from one skrill account,this is clear AML violation...not guilty

No account is approved without AML, this is not how things should work.

On their website they claim to be STP broker, how on earth they are allowing deposits and trading without correct AML compliance procedures if all accounts are DMA?

 

[Pharaoh]

The source of the issue is the "open and account, deposit, and start trading in 5 minutes" mindset. There's no time to properly check documents and verify all the other details when doing this. The problem is that this sort of thing appeals to people with impulsive personalities. The brokers that check everything up front before allowing a deposit lose a lot of potential customers.