OctaFX Is Frequently Complained by Investors for Irregularities

Broker: OctaFX

Regulatory status: regulated

Complainant: anonymous

Cause of complaint: loss due to platform irregularities

Recently, the broker OctaFX has become the target of frustrated investors. Many of them reported the broker to WikiFX after suffering varying degrees of losses due to OctaFX's manipulations. WikiFX recorded one of the victim's experience of being scammed to remind other investors to avoid choosing this broker.

Event recap

The complainant noticed the irregularities of OctaFXs platform on April 14th. When he woke up in the morning to check the trading results, he found that the platform did not execute his limit order at all when the market situation had been obviously in his favor. He immediately sent an email to the platform about the matter and reset the price of the limit order, but the platform did not responded.

Later, he traded EUR/USD and GBP/USD on the platform, but the market was rising. The investor continued to send emails to the platform, hoping that the platform would execute his orders at the limit level he set, so he could keep all his positions, but again the email was not answered.

The complainant then tried to contact the online customer service of the platform for several times, and each time they offered a different expected waiting period for complainant's request, ranging from 1-3 days to 10 working days. The complainant sent dozens of emails within four working days, but none of them was answered.

In addition to this complainant, several investors also reported varying degrees of losses due to irregularities of OctaFX's platform.

About OctaFX

According to WikiFX App, OctaFX is currently in valid regulation holding MM license issued by ASIC. However, despite a 7.0 rating on WikiFX App, OctaFX has been frequently complained by customer recently, and investors should be very careful in choosing this broker.

Conclusion

WikiFX has recently received several exposure cases against OctaFX. If you have a similar experience with the broker, you can expose the broker to WikiFX and seek assistance for recovering the funds and defending your rights. It's also recommended to withdraw your trading account balance in time to avoid further losses.

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