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stay away from this broker octafx

Discussion in 'Scam Alerts' started by iwancitra9988, Feb 25, 2018.

  1. iwancitra9988

    iwancitra9988 Recruit

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    Helo , Just want to share with you guys , do not invest with octa fx , they are hunting trader stop loss........

    First case , I placed order AUD/NZD buy at 1.09342 , dd:31/01/2018 , time17:14:54 , stop loss at 1.09142.
    Please see attaced chart from Octa and Insta.
    Octa chart low at 31/01/2018 , time: 21:00 at 1.0913 , while insta forex chart low at 1.0922
    They are stealing money from people.

    Second case , i placed two orders of Euro CAD sell at 1.5584 and 1.55909 , stop loss at 1.5608 at 22/02/2018 time 10:31:19 and 10:34:08 , they hit my stop loss at 1.5608 , while the highest candle at 22/02/2018 , time:14:00 is 1.56038 , SPREAD is only 2 pips.....
    The broker said the old story , due to the news your stop loss is hit.....
    this is like old story.......and like knife , i'm holding the sharp side because my money on his pocket.....

    Just want to share , do not invest with octa.....
     

    Attached Files:

  2. FxMaster

    FxMaster Lt. Colonel

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    Did you talk to them about the problem yet?
    If yes then what is their response on this?
     
  3. iwancitra9988

    iwancitra9988 Recruit

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    Yes , have emailed them and so far their answer is due to news , your stop loss is hit....
    Really suprised see their answer........
     
  4. OctaFX Rep

    OctaFX Rep octafx.com Representative

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    Dear iwancitra9988,

    We are currently looking into your complaint.
    Once we conclude our investigation we will respond accordingly.

    Thank you for your understanding.

    Kind regards,
    OctaFX Rep.
     
  5. OctaFX Rep

    OctaFX Rep octafx.com Representative

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    Dear iwancitra9988,

    In both instances, you were trading during news releases and during our investigation we did not find any errors in your orders execution.

    In respect to your first order, please note that each broker has different quotes and different liquidity providers.
    Therefore the discrepancy between the orders is not unusual.

    Regarding your EURCAD orders, please note that you had sell positions, which are closed by the ask price. The high price you see on a candlestick is the bid price and consequently not applicable in your case. Even if you see a 2 pip spread, which is typically lower, you should consider that during news releases spread tends to be bigger for short periods of time.
    This is typical for all brokers, as it reflects the way in which the market operates. Hence, 4 pips spread is not considered a significant increase when trading the news. On that point, we would like to emphasize that news trading might involve higher risks and is not suitable for every trader.

    We hope that we were able to address your complaint thoroughly. We value feedback from our customers we would like to thank you for providing such.

    If you might have any more questions please, feel free to contact us anytime.

    Kind regards,
    OctaFX Rep.
     

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