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

In this section we will tell you if we consider the OctaFX company to be a safe company or an unreliable company. Read our full analysis to find out everything!

We analyze the website, observe every detail and 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...

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
RegulatoryDoes not mention it
📧 Email[email protected]
📈 PlataformOwn platform
📌 AddressSt. Vincent and the Grenadines

Company:

🚨 The company that owns OctaFX is Octa Markets Incorporated. It seems like he is trying to pass himself off as part of this company.

Location:
⚠️ OctaFX mentions being located in Saint Vincent and the Grenadines, a location totally NOT RECOMMENDED. If you decide to trust a company based here you have to know that your money does not have any type of protection, it is very risky, please think twice before trusting this company.

We can already tell you that we are concerned about several characteristics of this company.

What is OctaFX?

After carefully analyzing the company's website, we determined that OctaFX performs as a forex and CFD broker.

Account types

Here are the different types of OctaFX accounts/plans:

types of accountsMINIMUM INITIAL DEPOSIT
Beginner Traders Account
$100
Experienced Traders Account$500
Advanced Traders Account$100

Information on the web

octafx website

Here we show you a screenshot of the OctaFX website, which is octafx.com. The capture was made in May '2024.

Contact: phone numbers and email

After having thoroughly examined the website:

📞 We have found the following phone number: +44 20 3322 1059 (United Kingdom), +34 651 769 010 (Whatsapp), +34 691 370 613 (Whatsapp)

📧 We have found the following email: [email protected]

OctaFX Regulation

We have analyzed in depth the current ⚖️ regulatory situation ⚖️ in which this company finds itself and we have reached the following conclusion:

La lack of information about regulation of this broker is a cause for concern. Investors should be aware that trading with an unregulated broker carries significant risks. Without the protection provided by regulation, client funds may be at risk. It is essential to do thorough research before trusting a company with investment.

🚫 Final OctaFX Rating 🚫

As you can see, we have carried out a detailed and complete analysis of the most important features of OctaFX and we have reached the following conclusions about this company:

Location: They mention being located in a VERY UNSAFE location, Saint Vincent and the Grenadines.

Regulatory: The absence of details about its regulation leads us to think that this company operates without being regulated. This lack of clarity generates uncertainty about its reliability and commitment to sector regulations.

Please remember that the company has been denounced by different financial regulators (in this case the FCA, BCSC, British Columbia Securities Commission and CNMV, National Securities Market Commission). Use EXTREME CAUTION.

Be alert with this forex and CFDs broker! This broker mentions being located in Saint Vincent and the Grenadines, a location that is considered VERY UNSAFE. The choice of this jurisdiction raises serious concerns about the transparency and security of operations carried out through this company. Investors should be very cautious, as locating in a place with lax financial regulations may indicate an intention to circumvent stricter regulations.

❗ The lack of details about broker regulation is another cause for alarm. The absence of clear information about its regulatory status suggests that this company could be operating without any official oversight. This lack of regulation creates great uncertainty about its reliability and its commitment to financial sector regulations, exposing investors to significant risks.

❗ Furthermore, it is important to note that the company has been reported by several financial regulators, including the FCA (Financial Conduct Authority), the BCSC (British Columbia Securities Commission) and the CNMV (National Securities Market Commission). These complaints reinforce the need to exercise extreme caution when considering any investment with this broker.

🚨🚨 In conclusion, we consider that this company lacks seriousness and security, according to the reasons stated. We urge you to take precautions before getting involved with an entity with this profile. 🚨🚨

Updates

➡️ News about OctaFX:

Date Update – news
January 2021Complaint against OctaFX financial regulator FCA
October 2021Complaint against OctaFX from financial regulator BCSC, British Columbia Securities Commission
May 2024Complaint against OctaFx financial regulator CNMV

We note that the company already has complaints from financial regulators. Please be very careful!

User Reviews

[democracy id = ”8921 ″]

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

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.

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 reliable?

No. OctaFX is not reliable, it is a very unsafe company: Does not mention whether it is regulated or not. Its location is unsafe in Saint Vincent and the Grenadines, it is not recommended for investors. On the other hand, it faces multiple complaints from regulators.

How to get money back 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.

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.

2 comments on «OctaFX: opinion and comments – Is it a scam? OctaFX»

  1. joseph R Reply

    This company will not let you withdraw. I assure you, they didn't let me withdraw, don't do it, you'll thank me later. Greetings.

    • Recommended-brokers.com Reply

      Hello José R, thank you for writing about OctaFX. Currently, this broker is considered a SCAM.

      If you are a client, do not invest more money, their only objective is to steal from you, they manipulate operations manually and keep the money from the moment it reaches their accounts, it never enters the market, everything is prepared so that they make you lose your money to have the excuse of keeping it.

      If you decide to withdraw and they ask you for a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it!, that is the alert, from that moment you have to know that you are a client of a scam broker and even if you pay they will never return it to you.

      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 fill out the form in this link: CLAIM YOUR MONEY

      Greetings.

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