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Octa FX

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Operating status: SCAM

Website: https://www.octafxmy.net/; https://es.octafx.com/

Broker violations and abnormal records
  • 2022-08-28 The Central Bank of Malaysia Added Octa FX into Its Warnings
    On 29 Aug 2022, Central Bank of Malaysia (BNM) issued a warning that Octa FX has been identified as one that has not been authorised by BNM to offer financial products or services that are regulated by BNM. You can visit: https://www.bnm.gov.my/financial-consumer-alert-list
  • 2022-08-29 BrokersView has Reviewed that Octa FX is an Unregulated Forex Broker
    Octa FX, operated by Octa Markets Incorporated, claims to be registered in Saint Vincent and the Grenadines with registration number 19776 IBC 2011. We searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found a matching result. However, please be...
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  • 2023-03-12 The Spanish regulator CNMV warned the public about Octa Fx
    The Comisión Nacional del Mercado de Valores (CNMV) issued a warning to the public, saying Octa Fx is not authorized to provide the investment services: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0

Related Complaints

Q&A

Is this the real Octafx??

Roberto Lugtenberg
Afghanistan
2022-09-07
ANSWER Octa FX is not a licensed or regulated broker even though it states offers that look good to be true. Octa FX claims to be operated by Octa Markets Incorporated, a company registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with registration number 19776 IBC 2011. We indeed find a match result to Octa FX in SVG FSA, but please be informed that SVG FSA does not regulate forex brokers or issue forex licenses. So having the registration does not mean being authorized to provide financial services. Moreover, the Central Bank of Malaysia (BNM) issued a warning that Octa FX has been identified as one that has not been authorised to offer financial products or services. You can check the full warning from here. The truth is, Octa FX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Octa FX and trade with licensed brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.