✔️ Information reviewed and updated in March 2024 by Pedro Martínez González

In this section we will tell you why You should NOT invest in OctaFx. We analyze the website, we observe every detail and we examine the main characteristics that are taken into account when choosing a good broker such as the location, the company to which it belongs, its regulation, its reputation…

A pocas palabras WE DO NOT RECOMMEND IT. Below we will show you essential information about OctaFx and we will tell you why we came to such a conclusion:

Basic Information

🌐 Websiteoctafx.com
🏠 Company*Octa Markets Incorporated
RegulatoryNot regulated
📧 Email[email protected]
📈 LeadingMetaTrader 4 and MetaTrader 5.
📌 DirectionSan Vicente y las Grenadines

⚠️ OctaFx is owned by Octa Markets Incorporated, the company is located in Saint Vincent and the Grenadines, potentially dangerous for its clients due to its lack of regulation and lack of seriousness. Clients are unprotected. The company is located in a very unsafe place, be careful. ⚠️

Account types

Now we move on to analyze the types of account offered by OctaFx, in this case, we observe that it offers 3 different types of account:

Account typeMinimum initial deposit
Beginner Traders$100
Experienced Traders$500
Advanced Traders$100

Information on the web

Octamarkets Website

OctaFx provides a brief explanation about the services it offers, market news and analysis, FAQ section, not much else.

List of phone numbers

At the moment we have not found phone numbers.

🚫 Final OctaFx Rating 🚫

Finally, and in a few words, Our recommendation is: DO NOT INVEST WITH OctaFx.

As we mentioned before, it is a financial company located in a place where you will not have protection from the law in case of being harmed, that is, you will not be able to claim anyone if an unfortunate event occurs such as the sudden loss of your funds or the closure of the company.

In case of problems, it is most likely that the authorities of your country will not be able to do anything. As a client of this company you are unprotected!

Investing with unregulated brokers or brokers based in such countries is very risky. It is best to invest with a regulated broker, based in a serious country.

Updates

OctaFx News:

Date Update – news
January 2021Complaint against OctaFx financial regulator FCA
October 2021Complaint against OctaFx from financial regulator BCSC
March 2023Complaint against OctaFx financial regulator CNMV

User Reviews

[democracy id = ”5952 ″]

What is your opinion? We invite you to collaborate with us and vote. You can also leave a comment about your experience with OctaFx.

At the end of the review you will find customer comments.


How to Claim Money Scammed by OctaFx

If what you want is to know how to claim your capital, if you have been scammed, further down in the FAQ section you can find our advice.

How to Report OctaFx

If you feel dissatisfied with the service provided by the company, and for some reason you want to report it, below, in the FAQ section, you can find the best way to report this company.

FAQs

How can I report OctaFx?

This depends on where you are, you should go to the financial regulator in your country. Write us a comment on this review and we will help you.

Is OctaFx a scam – is it a scam?

Yes. We think OctaFx is Scam. We have received messages from clients who mention not being able to withdraw their capital, this added to other very negative characteristics of the company.

Is OctaFx reliable?

No. OctaFx is not reliable, it is a very unsafe company: 1) is based in unsafe countries, 2) has a very bad reputation 3) has a lot of complaints 4) It is a relatively new broker without seniority. These characteristics make the company very unreliable.

How to recover money from OctaFx?

If you want to know how to recover your capital, you can see it here. We explain in detail the process of recovering money from a scam company, step by step.

Are there (recommended) alternatives to OctaFx?

Yes, of course there are better and safer options! You can see here the brokers we recommend: ranking of the best brokers.

About the Author: Pedro Martinez Gonzalez

I'll tell you a little about myself! I am a financial analyst and economist with a master's degree in finance.
About my studies: I studied at the University of Salamanca for a Degree in Economics and then did a Master's in Finance in Madrid.
Do you want more information? You can read more about me here in my biography.

9 comments on «Is OctaFx a scam? Opinions»

  1. Aurora Reply

    I have been scammed by this company. They actually follow all the steps you explain on this page.

    • Recommended-brokers.com Reply

      Hi Aurora, thanks for commenting on OctaFX. It is currently considered a SCAM. The CNMV (The Financial Regulator of SPAIN) has put an alert on them, for not having the regulation to carry out their activity (See CNMV link).

      If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.

      If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.

      To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.

      If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY

      Greetings.

  2. M Reply

    analyze Broker OctaFx

    Dear, I am a trader with 4 years of experience and I have been trading with this Broker for 2 years:

    https://www.octafx.com/

    Unfortunately I'm still trying to make money trading, I feel like I'm very close to achieving it, but I would like to know please if you can investigate whether the Broker I trade with is reliable when withdrawing profits, etc.

    • Recommended-brokers.com Reply

      Hello M, you can read the review and comments here: OCTAFX.

      Greetings.

    • Recommended-brokers.com Reply

      Hi ANONYMOUS, thanks for commenting on OctaFX. At present it is considered a SCAM. The CNMV (The Financial Regulator of SPAIN) has put an alert on them, for not having the regulation to carry out their activity (See CNMV link).

      If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.

      If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.

      To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.

      If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY

      Greetings.

  3. Leandro Reply

    I started with 500 usd but a few days later they began to ask me for more saying stupid things to convince me, which at that time, it sounded very tempting, now I realize everything I have lost by getting carried away, I hope you can help me

    • Recommended Brokers Reply

      Hi Leandro, thank you for sharing your experience with Octafx. This broker is a SCAM. Do not send them money, they want to get as much money as possible with lies, the operations are not real, the money is not put on the market, they only show it and in the end they tell you that you have lost and they keep it. They always try to manipulate you, they will not return your money, neither the initial one nor if you send them later you will not see it anymore, try to claim through our chat.
      If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.

      Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?

      To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU

      Greetings.

    • Frank Reply

      Octafx totally agree, it is a scam, they block your account with baseless excuses and then they no longer respond to you

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