OctaFX review - broker regulators, trading platforms, features and traders ratings.

This broker is the worst broker I used before, my friend making sell and close my order at 1900.94, but this broker directly adjust my closing price at 1906.15. I had recorded my trade, and I have proof

First few withdrawal is a breeze but after that its a nightmare. They didnt allow me to withdraw direct to my bank account anymore. Instead they ask me to withdraw using visa. They keep on quoting 'As stated in p. 13.9. of OctaFX Customer Agreement, in some cases the Company reserves a right to withdraw Client's funds only to his/her bank account' the bank account is under my name and still they keep on denying my funds.

Due to some emergency i had placed withdrawal request 3/1/2023 it's been 10 days since funds got debited from wallet but not credited to my bank account. Submitted my bank statement and all supportive documents Nothing is Fixed. I have been contacting live chat support team they say its in progress and rectified since 10days .

MT4 A/c: 26983318
Amount - 1633USD
Withdrawal Request ID -9056517
Payment Transaction Number : 23736059

Please dont play with Investor Funds .Its just my Principle Amount which had requested for withdrawal not Any Profit Withdrawal kindly process my money to bank A/c .

Regards
Sharanya

Sep 21, 2019 - 2 Stars Just the quick payment gateway works

You guys charge high spreads
You guys charge 3times extra commission on every Wednesday which I haven't seen in my 10 years FX career..

MT4 Account: 660958
Order ID 121592362

Guy I have lost more than 2000$ it was my wrong trades I agree...

Keeping that away recently I had opened a deal for EUR/CAD
with stoploss options....

The market never reached that value still the broker close my order ...

I agree during volitality market order execution will slip but hear the stop loss is hig with no reason...

There was 25-20 pips different...the order was closed for no reason which was supposed to be in PROFIT 20-30 pips

I have open order with othe broker like TICKMILL ,EXNESS & PEPERSTONE running.....

You guys are sick unprofessional doesn't want you're clients to book 10pips profit.... Request octafx technical team to fix the error or Reopen my order or refund for the order with profits

You guys should cliam responsible for this shit thing happened in your platform

Reply by OctaFX Rep submitted Oct 11, 2019 Dear Sharanya Naidu,

Triple swap is accrued if a trade is carried over from Wednesday to Thursday because forex market is a spot market. Meaning that the calculation of all the deals is made on the second working day after a trading operation was done, consequently from Wednesday to Thursday swap is accrued for past weekends and Wednesday.

As for comparing your trades with other brokers we’d ask you to keep in mind that all brokers have different trading conditions. You’re free to check all the rules concerning pending orders in our Customer Agreement.

At the moment your trades are being reviewed by our Trade Compliance Department. While there are special rules governing the execution of the pending orders we can assure you that if a technical error if found on our side your trades will be reimbursed.

Of course if you have any questions in the meantime you can contact us anytime.

We hope that this will not impede your overall experience with OctaFX and that you’ll continue to enjoy trading with us.

Kind regards,
OctaFX Rep.

MY SINCERE BIG THANKS FOR THE ENTIRE SUPPORT-TEAM WHO HAS ENDEAVORED TO FACILITATE MY WITHDRAWAL. IT CAME THROUGH AND HAVE RECEIVED THE FUNDS. THANK YOU SO MUCH. FEW DAYS DELAY, I FULLY UNDERSTAND THAT IT WAS NOT FROM OCTAFX BUT DUE TO THE SPECIAL SITUATION YOU ENCOUNTERED IN LOCAL PAYMENT TRANSFERS

FOR ANY PERSON GENUINELY TRYING TO EVALUATE OCTAFX, I WISH TO ASSURE YOU THAT OCTAFX IS HIGHLY DEPENDABLE BROKERAGE AND THEY TRULY SUPPORT THE TRADERS IN ALL MANNER POSSIBLE. I AM GIVING THIS ASSURANCE FROM MY CONTINOUS EXPERIENCE WITH THEM FOR MORE THAN TWO YEARS. I HAVE NEVER HAD A SINGLE INCIDENT WHATSOEVER TO LEAVE A NEGATIVE COMMENT ABOUT THEM. I AM LEAVING THE ABOVE ASSURANCE JUST BECAUSE I HAVE SEEN SOME PEOPLE ARE LEAVING NEGATIVE COMMENTS WHICH MIGHT CONFUSE THOSE LOOKING FOR A GENUINE STATUS ABOUT OCTAFX. THE CUSTOMER SUPPORT IS AMAZING AND THEY RESPOND VERY QUICKLY AND RESOLVE ANY LEGITIMATE ISSUES.

TODAY 2ND JANUARY 2023 ALSO I RECEIVED PAYMENT FROM OCTAFX WITHOUT ANY ISSUES. BUT I WISH TO STATE THAT THERE IS A DELAY IN INDIA LOCAL BANK WITHDRAWAL METHOD WHICH THEY INFORMED THAT THEY ARE DOING THEIR BEST TO RESTORE. BUT CUSTOMER SUPPORT TEAM EXTENDED THEIR FULL ASSISTANCE TO RELEASE PAYMENT THROUGH ALTERNATIVE SYSTEM.

OCTAFX IS THE ONLY BROKERAGE I AM USING FOR TRADING AND IF ANY GENUINE INCIDENTS OCCUR THAT NEED TRADER'S ATTENTION WILL SURELY BE INCLUDED IN MY REVIEW. I AM LEAVING THIS COMMENTS FROM MY OWN EXPERIENCE AND MY CONTINUING TRADING LIFE WITH THIS EXCELLENT BROKERAGE ESPECIALLY FOR INDIAN TRADERS. RECENT DELAY IN WITHDRAWAL HAD SHAKEN MY CONFIDENCE WHICH HAS BEEN FULLY RESTROED BY THE SUPPORT TEAM.

I WISH ALL THE VERY BEST TO OCTAFX TEAM AND WILL STAY WITH THEM FOR SURE.
THANK YOU SO MUCH ONCE AGAIN AND

WISH THE ENTIRE OCTAFX TEAM A VERY HAPPY NEW YEAR 2023.
HSNA

Octafx is a scam broker. When you profit trading with octafx they will not let you withdraw your profit. I've traded with them like 3 months, I was in profit, on 11 nov 2022 when I requested a withdrawal they declined my withdrawal request giving reason your account is under investigation. I contacted them they said it'll be done by 24 hours you should wait then we'll process. After 20 hours i received mail that my account is blocked and it won't be restored. I had most of my funds in octafx amounting 23000$. I asked them to refund my amount but they refused giving reason that you've already withdrawn more amount than deposit. Also gave references to their agreement para 3.10 which says.
3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons."

From that day i am trying to get my money back , until 13 November they replied my mails but now today 27 nov in 14 days i received only one reply from them that same 3.10 service denied mail. This behavior from a broker shows their disgusting policy of embazzling their clients funds.
If a broker cannot let their customers withdraw their profit then who'll trade with such trash broker. I've opened thread on Forex peace army about this problem also there are similar cases against octafx please support me there too . Andd stay away from this scam broker.
They don't reply because they don't have a valid reason, their FPA repsentative haven't replied on my thread despite my invitation also no reply on mail.
My advice to traders considering octafx as a broker please ignore their 4.5* trust Score on trustpilot it's fake because most of reviews are invited by broker. Please if you want to profit in forex leave this trash broker alone and find some excellent broker out there.
Octafx if you want reply me here or on FPA my account no is 23200345. Investigate for sure but return my funds if there's any grace left in you guys. Otherwise keep my money I'll not stop reviewing just here.