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Octa Markets Cyprus Ltd.
1, Agias Zonis and Thessalonikis Corner, Nicolaou Pentadromos Center, Block: B', Office: 201, 3026, Limassol, Cyprus
The number of the complaints received by WikiFX have reached 20 for this broker in the past 3 months, please be aware of the risk and the potential scam!
trade and win
where is my trade and win prize? It's been 4 months and it has not been sent so far... I've lost hundreds of millions to chase this reward, but I'm disappointed that it hasn't been sent yet... Where is Octafx's responsibility? Is it just a scam to attract traders??
Trade and win
The claimed trade and win prize has not arrived for more than 3 months, while the terms and conditions are only 30 days. I have broken various reasons so this is just a scam, especially if it is a gifted car. I think the PS5 is only an insider. I havve lost hundreds of millions to chase this trade and win the prize. Since the beginning of play, this broker has never won (no problem if it is fair). I doubt if one day WHITDRAW will be big because the prizes are not sent. Be careful with this broker
My account did not receive the deposit or the withdrawal.
Got burnt of USD$400 in a week because of a moment of folly.
Their scam works by asking you to deposit with promises of matching bonuses. After which, you are to blindly follow the broker's order to blindly trade (mine was a person named Dylan) and you will see losses after each string of trades to the point that the account is zero. They will also ask you to put up some long positions. I have emailed to them, they reply was you have zero dollars and to withdraw you must trade 30 times your deposit plus the matching bonuses! So USD600 x 30 times of trades before you can withdraw. Can it happen? Of course not! You need 87 trades for that to happen assuming USD$50 per trade. My disaster is your lesson learnt. Please spread the word around so that no one else will get conned again. My folly not to do a background check first. And surprising Facebook has their advertisement and Visa and MasterCard cannot do anything about these illegal transactions.
huge scam spread
closed beyond SL when price didn't even get there
I was scammed
my experience with octafx was disappointing I thought dey where a legit investment company but they proved me wrong I deposited 10,000naria into my octafx account through one of there vendors few hours left I decided to login into my account to check if my money is in my octafx account already it don’t login I tried many times even called the vendor he didn’t pick my calls or reply my messages called there customer care no reply I advice people not to invest in octafx
Deduction of money
I deposited my money into my octafx account and the next day,i didn't see anymoney on the account again,and i didn't trade with the money.
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The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
License Type:Market Making(MM)
Regulated in Country/AreaCyprus
Regulatory License No.：372/18
Email Address of Licensed Institution :firstname.lastname@example.org
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :STrovolou 47, KYROS TOWER, 5Th Floor, Nicosia 2018
Phone Number of Licensed Institution :35725251973
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Basic Information & Regulators of OTCAFX
Octa Markets was established in 2017 with the aim of developing into a reputable, reliable, fair, and transparent forex trader. Octa Markets was authorized and regulated by the Cyprus Securities and Exchange Commission in 2018 (license number: 372/18).
Safety Analysis of OTCAFX
Octa Markets holds a full license from CySEC, a regulatory body that regulates forex fairly strictly, and therefore, a certain level of security can be ensured. Moreover, the trader has initiated a negative balance protection policy for each account, which completely separates the client's funds from the broker's operating funds to protect the safety of the client's funds.
Octa Markets offers investors the most popular tradable instruments on the financial markets, mainly spot Forex, CFDs on stock indices, CFDs on spot metals, CFDs on commodities.
Leverage & Account of OTCAFX
Octa Markets offers two different account types for conservative and aggressive traders: MetaTrader5 account and cTrader account. The maximum leverage of the account is set according to the amount of money deposited by the trader's registration. The maximum default leverage is 1:20 for major currency pairs, 1:20 for minor currency pairs, gold and major indices, and 1:10 for commodities other than gold and non-major stock indices.
Spreads & Commission Fees of OTCAFX
The minimum spread for EURUSD is 0.4 pips, for GBPUSD 0.5 pips, and for EURGBP 0.6 pips. The minimum spread for spot gold is 0.8 pips, and for spot silver is 1.0 pips. The minimum spread for MetaTrader5 accounts starts from 0.3 pips, and no commission is charged for Forex and precious metals trading. cTrader accounts have a minimum spread of 0.0 pips, and a commission is charged for trading, which includes the opening fee for one side and the closing fee for the other side. There is no SWAP for both accounts. The trading commission on the cTrader Platform consists of a side charge for the opening of the position and another side charge for the closure of the trade.
Trading Platform Applied of OTCAFX
Octa Markets provides traders with two market-leading and high-performance trading software packages: MT5 and cTrader5. MT5 is the latest version of the multifunctional trading platform with a powerful trading system that supports various order types, including markets, pending orders, and stop orders, and supports desktop, web, Android, and iOS versions. cTrader5 features secondary quotes, server tracking, stops, cloud services to keep all accounts and templates in one place, one-click trading, and advanced charting features. Traders have the flexibility to choose the trading software according to their needs.
Deposit & Withdrawal of OTCAFX
Octa Markets Cyprus Ltd does not charge its clients any fees. Moreover, deposit and withdrawal fees applied by third parties are also covered by the broker Octa Markets supports wire transfers with a minimum amount of 50 Euros, which can be received within 3 to 7 business days.
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Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
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