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Scam Alert : OCTAFX BROKER

Discussion in 'Scam Alerts' started by octafxtrader, Mar 18, 2014.

  1. octafxtrader

    octafxtrader Private, 1st Class

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    Octafx scam alert

    Be careful OCTAFX cheats their customers on Micro accounts (i did not test ECN accounts) ! Please contact the NFA i have proofs ! When you open a NEW account you NEVER get slippage. Then when you win, or after 1/2 weeks you get everytime about 2 pips slippage for SL and TP (always negative slippage of course) isnt it strange? Yes it is ! When you ask them to stop to apply slippage they just say that slippage is the way the market is and that we all accept slippage in the terms in conditions ! So why every new accounts get not any slippage and then all orders get slippage after some days/weeks? They simply cheats us ! Please FPA help us thanks !
     
    fxtraderindia likes this.
  2. stevesmain

    stevesmain Sergeant

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    Good post.

    Now, what time of day are you trading?
    If it is around news times then it will be hard to make a case.
    If it happens during normal times then your case may be solid.
     
  3. Pharaoh

    Pharaoh Colonel

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    Contact OctaFx and invite them to join this discussion thread.
     
  4. Master Yoda

    Master Yoda Captain

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    Here in FPA we appreciate something magical called evidence...
     
    2 people like this.
  5. Alonedevils

    Alonedevils Master Sergeant

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    Can You Attachment Your Proofing Evidence ?
     
  6. chaosscrem

    chaosscrem Corporal

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    the best evidence will be recording of screen by Cam Studio or something like that. We would like to see execution of Your orders. Maybe its virtual dealer case.
     
  7. octafxtrader

    octafxtrader Private, 1st Class

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    Hello all traders Octa FX is a big scam be careful and let me explain you :

    When you open a new fresh account with a small deposit, a new name and email all is good : good spreads without commission, no slippage, good execution time. You trades like if you were in demo it is awesome on the beginning !

    After some days or when you start to win a lot or want to deposit more or want to withdraw they start to apply to all your wining trades about 2 pips slippage. Before 99% of orders are closed without any slippage. I think they are using any kind of MT4 plugin to add slippage to all your orders except the losing one of course.

    Example : if you set your tp TO 3 pips they will close it to +1pips only
    If your Stop is set to -2 pips they will close it to -2 pips (so no slippage)
    if you have a trailing stop and that your stop is set at +3 pips they will stop you at +1 pips
    You understand?
    When you ask them they just say that it is the market and that you accept slippage in the Customer agremeent on their website !

    I have proofs of that on many verified accounts. I can gi investor access to FPA.

    So the solution for me was to ask my brother, girl friend etc... to open a new account on their name to get back good trading conditions without slippage : and it worked they got no slippage on their account for 1/2 weeks !

    But when they wanted to withdraw octafx said that they might be a scammer using many fraud accounts !

    They were not scammers i just opened new accounts for my girl friend and her sister and his boyfriend !

    They say i have to send translated in English documents with apostille to get my money. The cost of it is about 200/300 euros to get back only 170 euros on my account so it is worhtless !!!

    Yesterday i opened a new account for my brother.

    It was his first account he was not a new Customer and they just disabled my account (trade is disabled in MT4 expert tab and impossible to log in OctaFX Customer Area : account is blocked) before he could open even one trade on it !

    They said to my brother that is was because of the article 3.2 of the Customer agrement : they have the right to stop the service to any Customer at any time ! It is really a scam my brother did not even open any trade and the account was fully verified and funded before !
    They hopefully said that he would get back his deposit but they did not say why my brother could not trade and why his account was blocked !

    Be carefull because if you are successfull OCTAFX will eat your profits and deposits or will not accept to verify your account or will not accept you to withdraw !

    It is a very big scam and hard to fight because they say everytime that it is in their custmer agrement and that you have accepted it on the signing up !

    Here is what i want :
    My brother want to get back his deposit
    The sister of my girlfriend want to get back her 140 euros back without paying for apostille and translation in English of her documents that octafx fully verified and accepted before
    I want to get back the right to open a new account and to get the good trading commission without the slippage after some days and profits !

    Best regards
     
  8. OctaFX

    OctaFX OctaFx Representative

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    Okay... OctaFX is a very very big scam but I want to open a new account and trade. That's something new.

    Anyways, before I am able to comment, can I get your account number (all account numbers actually, including all boyfriends and girlfiends, sisters and brothers, an other kin) so that I could investigate?
     
  9. Master Yoda

    Master Yoda Captain

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    We are dealing again with people who write against this company and then disappear.

    I think we should block this user, don't you agree Asstmod?
     
    1 person likes this.
  10. Master Yoda

    Master Yoda Captain

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    As I wrote in previously, I can see lately some people are writing against this broker but do not support what they are writing.

    Maybe they are right and OctaFX is scam but they have not supported this by any evidence so far, worse than that, they drop the complaint and never show up again.
     

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