Scam Alert : OCTAFX BROKER

[octafxtrader]

Are You True ECN ? Can You Give Me Your Liquidity Provider List ?

They will not reply to you ! they are not TRUE ECN ! If they were really TRUE ECN they would not use any kind of plugin or add slippage because they would earn their cash only from the commission so the more trades you do the more they would win ! They would not prohibit some kind of scalping EA saying it is arbitrage because order duration is less than 1 minute !

And if they were true ECN you would have some slippage to about every orders !

A little slippage like 0.1 or 0.2 pips and sometimes more when market is volatile !

But look as soon as your account is a fresh new account you will not have ANY slipapge (or maybe 1 order for 100 order) and as soon as you get some profits then they will add slippage, or they will block your deposit and profits !

 

[octafxtrader]

You have all the OctaFX Customer Support at your service for whatever questions you may have about us.

Just answer here everybody wants to know stop side stepping every answer !

 

[Master Yoda]

Traders may or may not be worried... It will not change the way the market works. Slippage always was, is and will be the part of ECN market execution. Live with it. There is nothing I can add about it. Just go out and find yourself a broker with the same conditions as we have and without slippage. The Internet is all yours.

The client claim is not about "natural" slippage

 

[amalina]

Octafx scam

hello all friends...

OCTAFX SCAM....

i allready send all document..1.5 month ago..but still cannot reply any news...


SUBJECT: Account under investigation. LTK1215802139990X



Dear sir,



We have received an information, that your account MIGHT have been involved into fraudulent activity or accessed by third parties intending to do so. We have grounds to believe the documents provided for this account as well as its identity do not belong to the actual account owner.

This is not a statement, but an assumption, which requires investigation in accordance with of our Security Dept. requirements and policies. There is nothing to worry about; it’s a regular check, intended for your funds security and transactions' transparency first of all.

This is to let you know that in accordance with p. 13.9 and p. 13.12 of the Customer Agreement, namely:

13.9. To provide financial security for the Client in some cases the Company reserves a right to withdraw Client’s funds only to his/her bank account;

13.12. For security reasons upon withdrawal the Company reserves a right to demand Client’s complete identification data, such as ID copy, address proof copy, bank reference letter and other relevant documents, apostiled or certified by a notary.

Your withdrawal request from account X worth of Y USD will be performed by bank wire. To complete the withdrawal, please follow these steps:

1. Please prepare the following documents:

a. Personal ID/passport copy (all the pages containing records)

b. Bank reference letter, clearly showing account name and account number on a bank letterhead with stamp and date.

c. An address proof, clearly showing residential address

ALL THREE TRANSLATED INTO ENGLISH, NOTARIZED (OR CERTIFIED WITH AN APOSTILLE STAMP) BY A RESPONSIBLE GOVERNMENT AGENT.

2. Please send these documents (physically, by mail) to our HQ address at:

Cedar Hill Crest, P.O. Box 1825, Villa, St. Vincent and the Grenadines

3. After the documents are received, case investigated and verified, your wire transfer will be sent to your bank account



We apologize for any inconvenience caused.

 

[amalina]

please tell me update my case..long time i wait..still dont have any news from octafx..please check and give me withdrawals.your broker many slippage and i loss because slippage..

Even though it's completely unrelated to the topic, for some reason people love talking to OctaFX Rep here. Might be because we are ones who at least reply.

Can you tell me, what exactly do you inderstand under the holy notion of "True ECN"?

 

[octafxtrader]

thanks

Thanks for your testimonial

 

[amalina]

welcome sir...

Thanks for your testimonial

 

[stevesmain]

Are things beginning to smell fishy to you???

 

[Alonedevils]

hello all friends...

OCTAFX SCAM....

i allready send all document..1.5 month ago..but still cannot reply any news...


SUBJECT: Account under investigation. LTK1215802139990X



Dear sir,



We have received an information, that your account MIGHT have been involved into fraudulent activity or accessed by third parties intending to do so. We have grounds to believe the documents provided for this account as well as its identity do not belong to the actual account owner.

This is not a statement, but an assumption, which requires investigation in accordance with of our Security Dept. requirements and policies. There is nothing to worry about; it’s a regular check, intended for your funds security and transactions' transparency first of all.

This is to let you know that in accordance with p. 13.9 and p. 13.12 of the Customer Agreement, namely:

13.9. To provide financial security for the Client in some cases the Company reserves a right to withdraw Client’s funds only to his/her bank account;

13.12. For security reasons upon withdrawal the Company reserves a right to demand Client’s complete identification data, such as ID copy, address proof copy, bank reference letter and other relevant documents, apostiled or certified by a notary.

Your withdrawal request from account X worth of Y USD will be performed by bank wire. To complete the withdrawal, please follow these steps:

1. Please prepare the following documents:

a. Personal ID/passport copy (all the pages containing records)

b. Bank reference letter, clearly showing account name and account number on a bank letterhead with stamp and date.

c. An address proof, clearly showing residential address

ALL THREE TRANSLATED INTO ENGLISH, NOTARIZED (OR CERTIFIED WITH AN APOSTILLE STAMP) BY A RESPONSIBLE GOVERNMENT AGENT.

2. Please send these documents (physically, by mail) to our HQ address at:

Cedar Hill Crest, P.O. Box 1825, Villa, St. Vincent and the Grenadines

3. After the documents are received, case investigated and verified, your wire transfer will be sent to your bank account



We apologize for any inconvenience caused.

Can You Post and Make Your Own Thread ? And Included All Detail On Your Self Thread.

 

[Alonedevils]

They will not reply to you ! they are not TRUE ECN ! If they were really TRUE ECN they would not use any kind of plugin or add slippage because they would earn their cash only from the commission so the more trades you do the more they would win ! They would not prohibit some kind of scalping EA saying it is arbitrage because order duration is less than 1 minute !

And if they were true ECN you would have some slippage to about every orders !

A little slippage like 0.1 or 0.2 pips and sometimes more when market is volatile !

But look as soon as your account is a fresh new account you will not have ANY slipapge (or maybe 1 order for 100 order) and as soon as you get some profits then they will add slippage, or they will block your deposit and profits !

If There Are Good Broker, Its Not Too Much Problem If They Post And Reply Here,,
But I Always See Market Maker Broker Act As ECN Or Other Good Act Is always Stepping Their Costumer To Their Private Chat / Chat Support ..