Scam Alert : OCTAFX BROKER

[Master Yoda]

None that I can think of.

You have a group of organized cheaters and it's pretty obvious that all the accounts are managed by one person. You have no idea whether these people are real or fake. They use several credit cards and several Skrill accounts. They may deposit by card and withdraw by Skrill. You generally see the same guy, but you have no idea why so many Skrill accounts or cards are used. Why is "girlfriend's" account deposited from "brother's" account? Third party deposits, when someone else deposits your account instead of you is a classic example of money laundering and therefore prohibited everywhere. What would you do in this case? Pretend nothing happened?

Anyways, it's completely not clear why not use one person, one trading account and one payment method. So since we have no idea who those numberous family members are, we asked them to provide documents. I just don't understand what the fuss is about.

As long they are not asking to withdraw to a different source other than the one they used to deposit with (each person respectively), and as long there is no problem with their trading I see no issue.

Of course their verification docs should be authentic and approved by you.

Also if they are no using many accounts to hedge each other (some bonus arbitrage or so), but as I understood from you this is not the case.

You as a company have the right to decline account opening, so why won't you give them their money with whatever profit/loss they had back to the source of the deposit and that's it?

 

[Master Yoda]

We are not organised scammers :
I just trade for my family on same vps
I just have a good ea which is not arbitrage
I always used same.skrill because it is my family and i always withdrawed to the same skrill email. I just changed email not the skrill account. For example i never funded by skrill and withdraw by fasapay. We are not scammers justvtrader that dont want their plugin slippage thats all. We would not have open any more account than one if the broker did not cheat my family..
I just used different account to get rid of the slippage added by the broker and it worked.
They ask documents yes but they want certified documents by notary translated in english or apostille. It would cost about 300euros to do that in order to withdraw 142 euro so now you understand...?
My brother still wait for his 95 $ he cant access to his personal area to withdraw and trading is blocked on mt4 octafx said within one or two days but now it is 7 days and still nothing! Be careful everybody!

Now my family want to trade on one account without any virtual dealer like plugin just let us trade like we want.
And we also want our money today please

If you do these two things we stop the case on fpa.

Regards

Can you answer one simple question: why you have so many accounts all belong to your family?

From what I saw until now- usually it's arbitrage. I am not here to blame you but this story sounds too good to be true. Since when a family trade as a whole through one VPS? since you all trade on same EA why can't you have one account for all of you?

I understand OctaFX that's it's too messy to deal with such an operation.

If truly OctaFX is a using VPD plugin and you are not happy with their service, I strongly suggest you to trade elsewhere . There are so many companies out there.

 

[octafxtrader]

Can you answer one simple question: why you have so many accounts all belong to your family?

From what I saw until now- usually it's arbitrage. I am not here to blame you but this story sounds too good to be true. Since when a family trade as a whole through one VPS? since you all trade on same EA why can't you have one account for all of you?

I understand OctaFX that's it's too messy to deal with such an operation.

If truly OctaFX is a using VPD plugin and you are not happy with their service, I strongly suggest you to trade elsewhere . There are so many companies out there.

Sir, please just read corectly the entire thread i told so many time the reason of opening different accounts.

I opened different accounts because OctaFX began to use automatic slippage by a kind of virtual dealer plugin on my accounts so i just opened new fresh accounts with different email and with the names of my brother, my girlfriend, my girlfriend's sister and his boyfriend because if it was not real people that i known it would not have been possible to get verified the account and to withdraw. I did not want to create fake accounts, i just wanted new fresh account to get back good trading conditions (99% orders not slipped).

I can just tell you that it worked ! New accounts : 99% orders no slippage and "old" accounts 99% slippage (only orders resulting in a loss were not slipped). It was funny to see on the same VPS with same EA and same settings that some account getting suddenly slipped while other still no slippage at the same time !!!

Accounts began to be slipped :
- when i started to ask for a withrawal
- when the account was about 1/2 weeks old
- when the account was in good profits

My family just want to get back their money (not so much money) on the same skrill account which was used to deposit

one account with 142 euros(on the name of the sister of my girlfriend)
one account with about 30 euros (on the name of the sister of my girlfriend)
one account with 95 dollars (my brother, the account was verified and then it was blocked before we could trade even one order... personal area also blocked on website so no way to withdraw. they said they will give back the money within 1/2 days last week but still waiting and now 8 days of waiting !)

For the 142 eur account they say that i need to send three certified documents with apostille translated in english to get back the money. Translation cost 80 euros per document so it would cost her 240 euros to get back only 142 euros now you see the scam?

For the 30 eur account they say that we are using someone else document to deny the withdrawal : they dont allow withdrawal.

Now you see how it is hard to get back only bout 230 euros?

If i was you i would NEVER deposit big money on that broker you would lose everything !

It is not arbitrage at all beetween accounts !

I use same currency (gbpusd) same timeframe (5min) and same EA (a private EA based on the XMT scalper of Sir Capella of WWI)

An arbitrage EA uses two broker ( a master and a slave) , with a software (the reader) and a special EA : now you see that it is not arbitrage at all !

OCTAFX Can't be ECN because if they were they would accept this type of scalping EA because they would earn big money because lot of orders !

What wrong did my family do?

We just "cheated" octafx with new accounts to get good trading conditions again because octafx CHEATED us !

We just traded a good scalping EA (scalping is allowed on the website)

We just made profits (about 100% some days !!!)

We just opened accounts with real people of my family

We just traded on the same VPS

Thats all now you can see how scam is OCTAFX...

Regards

 

[octafxtrader]

As long they are not asking to withdraw to a different source other than the one they used to deposit with (each person respectively), and as long there is no problem with their trading I see no issue.

Of course their verification docs should be authentic and approved by you.

Also if they are no using many accounts to hedge each other (some bonus arbitrage or so), but as I understood from you this is not the case.

You as a company have the right to decline account opening, so why won't you give them their money with whatever profit/loss they had back to the source of the deposit and that's it?

Accounts of my brother and the "142 euros" account were FULLY VERIFIED by OCTAFX but this is AFTER that they deny the withdrawal because they said after that this was fraud accounts !
Only the 30 euros account is not verified because they deny it (they say it is someone else documents to deny it)
ALL Withdrawals are asked on the SAME skrill account than the deposit !

 

[Pharaoh]

For any accounts that used 3rd party deposits or are attempting 3rd party withdrawals, the problem was 100% self-created and you'll be needing all of that expensive documentation to cover yourselves.

Slippage happens in the real world. Still, I would very much like to see a statement from OctaFx regarding the accusation that slippage was different based on the age of the accounts, number of prior winning trades, etc.

 

[Master Yoda]

can you share with Pharaoh and I the account statement where you claim there have been a false slippage?

As long you are withdrawing to the same source you used to deposit with (for each account respectively) and since it's not a big amount I believe that the broker should release the money and end this saga

 

[octafxtrader]

For any accounts that used 3rd party deposits or are attempting 3rd party withdrawals, the problem was 100% self-created and you'll be needing all of that expensive documentation to cover yourselves.

Slippage happens in the real world. Still, I would very much like to see a statement from OctaFx regarding the accusation that slippage was different based on the age of the accounts, number of prior winning trades, etc.

Lol trust me it was not real slippage. A friend of mine has same problem. just test by yourself with a powerfull EA.
It was not third party deposit it was skrill deposit and same skrill withdrawal.
It was my brother skrill
He is still waiting his 95USD...
I hope he will get it back they say nothing

BE VERY CAREFULL TO THIS BROKER ! NEVER PUT BIG MONEY !

 

[octafxtrader]

can you share with Pharaoh and I the account statement where you claim there have been a false slippage?

As long you are withdrawing to the same source you used to deposit with (for each account respectively) and since it's not a big amount I believe that the broker should release the money and end this saga

Ok i will send all statements today. I will post a mege.co.nz link here today.

 

[octafxtrader]

Ok here it is : About every accounts can be found there : frenchtrader7's Profile | Myfxbook

To make it simple :

I°/ Accounts with slippage (watch only last orders, 99% of all other orders from the beginning are not slipped, just watch is order is closed at SL or TP, EA rade only in big volatity so from the beginning we should have slippage)

Compare accounts beetweek themselves ! some will suddenly get slippage while other still good ! If they start to cheat you all orders will be slipped and the EA will not work any more ! they just kill it !

175436
176767
181122 (account slipped about from the beginning because email not changed, account created in personal area, not a new fresh account)
177869
176917
179604
175827
175841
175997
176013
176435 (account slipped about from the beginning because email not changed, account created in personal area, not a new fresh account)
178534
176958
178532
179598 (about 31 euro cant be withdrawn by the sister of my girlfriend, they dont allow wirthdraw)


II°/ Accounts withdrawed before that slippage appears to save some profit :
177917 (sister of my girlfriend, she cant withdraw her money because hey want apostille that would cost luch more than the deposit (about 240 euros for translation and apostille)

III°/ Account of my brother funded with his own skrill (account was fully verified, then it was deposited, then they disabled the trading on the terminal MT4 and blocked the access of the personal area in octafx website) they dont allow the withdrawal. not any trade but they blocked the account !

If you need any thing more just tell me :
if you need mt4 statement or if you want i verify some account just tell me which account number and i will do it because it would be too long to do it for all accounts...

As a conclusion : BE CAREFUL EVERYONE NEVER PUT BIG MONEY ON THE OCTAFX BROKER BECAUSE THEY WILL :

- cheat you with slippage after some days/weeks if you get some good profits
- block your account
- block your access to your personal area
- deny your withdrawal of deposit and/or profits
- ask you for translated with apostille ID CARD, bank letter and adress profits which wil cost you about 300 euros to get (and maybe they wil deny it also and deny the withdraw never know!) !

 

[Alonedevils]

Sir, please just read corectly the entire thread i told so many time the reason of opening different accounts.

I opened different accounts because OctaFX began to use automatic slippage by a kind of virtual dealer plugin on my accounts so i just opened new fresh accounts with different email and with the names of my brother, my girlfriend, my girlfriend's sister and his boyfriend because if it was not real people that i known it would not have been possible to get verified the account and to withdraw. I did not want to create fake accounts, i just wanted new fresh account to get back good trading conditions (99% orders not slipped).

I can just tell you that it worked ! New accounts : 99% orders no slippage and "old" accounts 99% slippage (only orders resulting in a loss were not slipped). It was funny to see on the same VPS with same EA and same settings that some account getting suddenly slipped while other still no slippage at the same time !!!

Accounts began to be slipped :
- when i started to ask for a withrawal
- when the account was about 1/2 weeks old
- when the account was in good profits

My family just want to get back their money (not so much money) on the same skrill account which was used to deposit

one account with 142 euros(on the name of the sister of my girlfriend)
one account with about 30 euros (on the name of the sister of my girlfriend)
one account with 95 dollars (my brother, the account was verified and then it was blocked before we could trade even one order... personal area also blocked on website so no way to withdraw. they said they will give back the money within 1/2 days last week but still waiting and now 8 days of waiting !)

For the 142 eur account they say that i need to send three certified documents with apostille translated in english to get back the money. Translation cost 80 euros per document so it would cost her 240 euros to get back only 142 euros now you see the scam?

For the 30 eur account they say that we are using someone else document to deny the withdrawal : they dont allow withdrawal.

Now you see how it is hard to get back only bout 230 euros?

If i was you i would NEVER deposit big money on that broker you would lose everything !

It is not arbitrage at all beetween accounts !

I use same currency (gbpusd) same timeframe (5min) and same EA (a private EA based on the XMT scalper of Sir Capella of WWI)

An arbitrage EA uses two broker ( a master and a slave) , with a software (the reader) and a special EA : now you see that it is not arbitrage at all !

OCTAFX Can't be ECN because if they were they would accept this type of scalping EA because they would earn big money because lot of orders !

What wrong did my family do?

We just "cheated" octafx with new accounts to get good trading conditions again because octafx CHEATED us !

We just traded a good scalping EA (scalping is allowed on the website)

We just made profits (about 100% some days !!!)

We just opened accounts with real people of my family

We just traded on the same VPS

Thats all now you can see how scam is OCTAFX...

Regards

Is That Mean One VPS is One IP Too ?? Sorry Im Not Too Much Understand With IT ..
Im Still Curious With This Statement, I Mean, This Can Be Some OctaFX Reason Can't Release Your Money ..