| Name of Complainant | |
| Date of Complaint | January 11, 2024 |
| Name(s) of companies complained against | Octafx |
| Category of complaint | Cyber Crime |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I HAD DEPOSITED $6000 IN MY OCTAFX ACCOUNT LAST MONTH IN DECEMBER 2023. I HAD TAKEN A TRADE AND MADE $45000. NOW MY ACCOUNT HAS BEEN BLOCKED AND ALL MONEY IS BLOCKED. STRICT ACTION NEEDS TO BE TAKEN AGAINST OCTAFX. IT NEEDS TO BE BLOCKED IN INDIA AND I NEED TO BE REFUNDED.
Image Uploaded by RAJASHEKAR DANDUR:
Dear Rajashekar Dandur,
Thank you for bringing your concerns to our attention, and we appreciate your patience. We sincerely apologize for any inconvenience you may have experienced. Upon checking, we have found the issue that you mentioned. Your account service has been suspended under clauses p. 3.10 and p. 19.3 of the Customer Agreement.
Customer Agreement p. 3.10 and p. 19.3 declares the following:
“3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons.”
“19.3. No Client complaints will be accepted in regard to the financial results of the orders opened or closed using temporary excess Free Margin on the Trading Account gained as a result of a profitable position (cancelled by the Company afterwards) or opened at an off-market quote (spike) or by any other reason.”
Under these clauses highlighted above, the company has decided to discontinue services for your account, resulting in the ongoing blockage of access. We strongly advise against opening new accounts with us, as any additional accounts may also be blocked at our discretion. It is important to note that in such cases, any trades, profits, and commissions associated with those accounts will be nullified. The Company holds the authority, upon its discretion, to discontinue providing services when deemed suitable and necessary due to instances of the Client engaging in malicious, illegal, inappropriate, fraudulent, or other unacceptable actions.
If you require any further information or have any additional inquiries regarding Octa, please do not hesitate to contact us at support@octafx.com. Our dedicated support team would be more than happy to assist you in any way possible.
Kind regards,
Octa Rep.
First of all there is no clear proof for your clause 19.3. I haven’t made any free excess margin trade. All my trade were straight forward. If your system has executed the trade that me and the trade was valid. Are you saying there was technical glitch from your end that resulted in a trade being executed that shouldn’t have been executed and then because of that now you are blocking my account. I had deposited $6000. I lost my first trade. There was $6000 more in equity that was from the 100% Bonus scheme that you were running for the New Year.
I took my 2nd trade from that Equity. And all further trades were executed as per the rules. I do not find any mistake from my end. It clearly proves OctaFx is hiding its financial transactions and creating Scams. I recommend everyone on this platform to never sign up with OctaFx. It is a Caribbean island trading platform. Caribbean Islands is where all the cheaters keep their black money including Terrorists. This is a well know fact available on the Internent.