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OctaFX refuse to return my profit for 15615.76 USD
volan
Thailand
2024-07-24

Amount $15615.76

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CONTENT On July 3rd, I deposited an amount of USD 5,409.85 into my account and opened a sell position on USDJPY for 5 standard lots at a price of 161.6. During this period, I did not take any further action until all positions were closed on July 17th at a price of 156.72. This resulted in a profit of USD 15,615.76 and a total balance of USD 21,025.61. Subsequently, I received an email from the OctaFX KYC team requesting verification of my identity through a selfie. Unexpectedly, on the same day, I was notified via email that my account had been blocked and that the accrued profit of $15,615.76 USD would be withheld. Upon inquiry regarding the reason for the funds being withheld, OctaFX attributed the action to an alleged misuse of the platform’s swap-free feature. I endeavored to explain that there was no intention to misuse the swap-free feature offered by the platform.Regarding the alleged misuse of the swap-free feature, I possess evidence that contradicts this claim.OctaFX actively promotes its swap-free feature, assuring clients of no unexpected charges. Given this, it is reasonable to expect that clients can utilize this feature without restriction. Furthermore, OctaFX cannot arbitrarily justify any actions taken against clients who employ the swap-free service. Supporting evidence, including screenshots from various online sources, corroborates this claim. It is essential that clients be afforded the opportunity to trade swap-free without conditions imposed unilaterally. Any modifications to these terms should be preceded by explicit notification to clients. (Even though I do not wish to take advantage of the swap-free feature in any way)OctaFX has accused me of breaching the customer agreement. Upon careful review of the provided documentation and the agreement accessible on the company's website, I have found no reference to the term 'swap' or any related provisions. Therefore, I am confident that no contractual violations have occurred.
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OctaFX opened a trade I did not place
Madeleine Hanekom
South Africa
2024-06-21

Amount $14826

Replied
CONTENT Hi, My name is Maria Magdelena Hanekom. I am DEVESTATED I opened a trade this morning my plan was for it to run as there was enough equity and free margin. Out of the blue I recieved a notification that my trade had a STOP OUT. When I  checked I noticed there was a trade executed that I did not open or added to a pending trade. I was so shocked to realised I lost all my money. If it was not for the trade that was opened by OctaFX then I would have still had my trade and all my money. But because of that mysteriously trade that was opened by OctaFX I lost all my money of 14826.00 USD I do have all the evidence. I immediately contacted OctaFx and they said they will investigate and revert back. They mailed me a mail where I need to send them a selfie with my ID and piece of paper with today's date just to find out they will not refund me they will just unlock my account. I did not share my details with anyone as I am not stupid. And I am a Senior IT Technical Specialist so I don't have a virus etc.. This is ridiculous. It is the same example I read on other forums where trades also with OctaFX get closed or executed without one's knowledge. There is definitely a breach or a bug in you softwar/system.  And I have reported a prevouis clitch to OctaFX but nothing was done or any feedback recieved from them. The system was also offline during the day. That is why I could not close my trade and when the system came back online I was to far I to my trade to CLOSE it that I just left it as I worked out that I will be able to make it to 2321.00 and the back to 2366.97 and then just check the market or break even. I want this resolved ASAP. I want my money that I have lost today  refunded back into my account. I need a correction to be done as there was an issue with you systems today
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