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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