Name of Broker – OctaFX

Website – https://www.octafx.com/

Regulated By – NA

Owned by the – Octa Markets Incorporated

Warning Issued By – Not Recommended By Review Website Like All Scam Reports

There have been proofs of scam activities done by OctaFX broker as All Scam Reports Team has done a thorough investigation. If you want to safeguard your funds and avoid these scams, read the OctaFX review and get to know about the scam activities of broker in detail.

According to some review websites, the broker is not authorized to provide trading and financial services and is involved in illegal activities. This platform is involved in the Ponzi scheme, which means “principle of value multiplication”. They utilize the cash of another member to pay the current one. It is basically a pyramid scheme, with the differentiation of covered up, misleading, and socially hurtful.

Examine the below-mentioned points in OctaFX Review to know the reliability of OctaFX Broker –

OctaFX is operating without a regulator, which is a major red flag to be checked upon. A number of negative review and comments have been mentioned by the users in various online platforms.

When you are looking for a trade, it is immensely important to identify a broker that is reliable and legit. But, there are some reasons why we have tagged OctaFX Broker Review in our list of scam brokers.

Regulation Status of OctaFX –

The regulation status of a broker is one of the most critical points while choosing the right broker. Here, with OctaFX broker, it seems not to be regulated in its jurisdiction of operation and is indulged in scam activities. There is a high possibility that OctaFX has been warned by reputed regulation authorities like CySec, ASIC, FCA, CNMV, FINMA, etc. Warning issued by any of these authorities clearly indicated that the broker is not a good fit to invest your hard-earned money with.

Complaints Against OctaFX Broker –

A number of complaints have been found regarding the OctaFX broker in the various online review sites. A low rating on several online platforms makes it clear that the broker has a negative reputation among the investors. The investors have accused them of being scam brokers and state how they have been victims of the OctaFX scam and lost all their money and efforts to them.

Leverages and Accounts of OctaFX Broker-

The genuine brokers that are operating in the market often require low deposits as high deposits are not in the favour of the regulatory bodies. Whereas, the OctaFX broker tends to charge a huge deposit amount that is a major red flag to avoid moving further with your investment journey. The same criteria goes with leverage, as the leverage offered by legit firms is low and in small amounts. Whereas, the OctaFX broker tends to offer high leverage, shaping it as a scam broker.

Final Thoughts –

All Scam Reports Team advise the user to avoid investing here, as we have found that the OctaFX broker is a suspicious broker, operating without any legal license. Compiling together all the points mentioned in this OctaFX review, it can be concluded that OctaFX is a potential scam broker. Investors should always remember that the scammers don’t have any right to take away their funds with illegal ways and hence, it is their responsibility to fight for it and get it back from the scammers. All Scam Reports Team is here to help you out in this situation of fund recovery. All you need to do is to fill a small complaint form and we will be in touch with you shortly with a Free consultation.

OctaFX Review- Is OctaFX Scam or Legit?