Refusing US$100,000 withdrawal! OCTAFX delayed withdrawal

Although OtcaFX is regulated by CYSEC! However, WikiFX has been received two complaints of this broker so far, and in view of the large amount of fraud, WikiFX decided to re-evaluate the broker and will question whether the CYSEC regulatory brokers to which the broker belongs actually regulates the forex platform under their supervision.

According to the narration of an investor, it was surprised that regulated forex broker could use such disgusting methods to defraud investors. The astonishing number is chilling!

In September last year, an investor who has been trading forex for three years told WikiFX his experience of being defrauded by OtcaFX . He deposited 40,000 USD at OtcaFX, and the total money in his account reached 210,000 USD within 3 weeks of trading, with 100,000 USD profit. Then, he submitted a withdrawal application at OtcaFX and was informed by OtcaFX official email that the withdrawal would be confirmed within 3 hrs to 1 day.

But the result is not like what the investor expected.

After one week, the investor did not receive any refund in his bank account.

The investor reported the issue to OtcaFX account manager，then he got feedback from OtcaFX Financial department that his funds can be withdrawn in his bank. Therefore, the investor sent a deposit request to his bank immediately. A month has passed, but the investor still can not receive any refund in his bank account. When the investor asked the OtcaFX again, he was told that because of the huge amount of money withdrawn, it could only be transferred to the trading account.

How did it end up like this？ During this process, the investor asked OtcaFX that the funds need to be refunded to his bank account, not to his trading account, because his negative trading account at that moment could not be deposited anymore. The fact is that they transferred the money to his trading account, causing his loss.

How did it end up like this？

In fact, it is obvious that the OtcaFX wants to embezzle this huge amount of money but gives a reason quite ridiculously. In addition, Besides this case, WikiFXreceived the same complaintfrom a Chinese victim in November lastyear. She reported OtcaFXrefused her withdrawalas well.

Warning!!!

Per checking WikiFX App,OctaFXhas a poor rating of 1.87, and the broker bearing great risks. The broker is currently active on large social network such as Telegram and Facebook, please stay away!

Please download WikiFX APP from below links or scan code ：

iosAppStore： https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Googleplay:https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

Want to know more about Forex security？ Add WikiFX.NG official social media to keep up with the trend!!

Facebook:

https://www.facebook.com/Wikifxng-100222921591879/

Want to know more about foreign exchange security？

If you have any questions, please feel free to contact us at wikifx@wikifx.com

The following is the process of how to use the app:

1. Download WikiFX

You can download the app on Google Play or Apple Store for free.

2. Register to be a WikiFX member

Enter your phone number and verification code.

3. Select Language and your area

4. Find “Exposure” section on Homepage

5. Edit post and release

Click the edit icon and choose either type of reason you wanna expose. Then, select the broker you wanna expose, edit your scammed experience and release it.