OctaFX
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categoryForex
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Views185
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Reviews1
OctaFX
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categoryForex
-
Views185
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Reviews1
2.3
trust score
2.1
brand audit
1.5
user’s score
1
user reviews
High risk
| Specialization Trading | X (Twitter) Yes | Facebook Yes | Fraud AllegationYes |
| Deceptive Marketing Concerns High | Misleading Claims Concerns High | Transparency Score Medium | Conflict of Interest Concerns Medium |
| Sued by Clients Yes | Negative Reviews Online Yes | Risk Factor 0.83 | Adverse Media Yes |
| Brand Awareness Low | Unfair Competition Allegations Yes | Corruption Concerns High | Poor Services Allegations Yes |
| Unprofessionalism AllegationsYes | Brand Impact Low | Search Visibility Medium |
An overview on OctaFX
OctaFX is a reliable partner in the financial market that specializes in directing traders toward changes that will result in successful outcomes. The goal of their organization is to make the financial markets more accessible to the general public by offering educational tools, clear trading conditions, and portfolio management services. By demonstrating a commitment to continuous improvement, they constantly increase trading conditions, thereby providing traders with the tools that are necessary for achieving desired outcomes. Their worldwide presence guarantees that they are accessible to traders all over the world, and their success stories highlight the fact that their trading environment is both cost-effective and empowering.- Highly experienced
- Poor online presence
- Suspicious marketing claims
- Faced multiple complaints
- Lack of transparency
OctaFX has a consumer rating of 1.5 stars from 1 consumer complaints and reviews indicating that most customers are NOT satisfied with their experience. Consumers unhappy with OctaFX most frequently mention bad support and high costs.
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critical intel on OctaFX
Substantial dangers to investors
OctaFX, a financial service provider that has not been approved, has been placed on the list of Financial Consumer Alerts maintained by Bank Negara Malaysia. Additionally, the Securities Commission has highlighted OctaFX for engaging in activities that are not authorized. Using a variety of URLs, they conduct their business and may have clone businesses that are engaged in illicit schemes. Even though they provide attractive deals, it is essential to steer clear of their services because they present substantial dangers to investors. Always keep in mind that if anything seems too good to be true, it just might be.
| Posted by Saiful Ridzaimi | Posted on Aug 30, 2022 | SERP >10 | Type News report |
| Language English | Sentimental analysis Negative | Brand Impact Low | Search Visibility Medium |
| Financial Consumer AlertsYes | Scam AllegationsYes | Alleged Dangers to InvestorsYes |
Top 3 negative keyword association :
- Alerts
- Scam
- Danger
High-risk investment for Malaysian traders
OctaFX is deemed to be a high-risk investment for Malaysian traders, even though it is regulated in another country. The Securities Commission and Bank Negara have both identified OctaFX as engaging in operations that are not approved. It is concerning that they advertise using “success stories” and controversial local personalities, as this raises questions about the marketing strategies they employ. The need to exercise caution and not mindlessly follow celebrity endorsements cannot be overstated, particularly when dealing with high-risk ventures such as FX trading.
| Posted by Dzamira Dzafri | Posted on 30 August 2022 | Forex TraderYes | Risk for Malaysain TradersVery high |
| SERP >10 | Brand Impact Medium | Source Reliability Very High | Search Visibility Low |
| High-risk venturesYes | Scam Yes |
Top 3 negative keyword association :
- Scam
- Forex Trader
- High Risk
Unauthorized Services
The Reserve Bank of India (RBI) expressed its worries in a report that was distributed across departments. The RBI was concerned about several online trading platforms, such as OctaFX, Olymp Trade, and IQ Option, which provide services for trading foreign exchange without authorization. The Reserve Bank of India (RBI) does not authorize these platforms, and the Securities and Exchange Board of India (Sebi) does not recognize them. However, these platforms frequently advertise large returns and bonuses. Despite repeated warnings and guidelines by the Reserve Bank of India (RBI), such unauthorized services continue. Some platforms even offer derivative products such as contracts for differences (CFDs). The Reserve Bank of India (RBI) has detected misleading marketing on a variety of platforms, including social media and gaming apps, which entice users with features similar to lottery games and claim that authorities in other countries regulate them. In addition, to circumvent rules, these sites have developed alternate payment methods, such as accepting payments in rupees through domestic systems or cryptocurrency. The Reserve Bank of India (RBI) highlights that the liberalized remittance scheme that was designed under the Foreign Exchange Management Act (FEMA) does not allow remittances to offshore exchanges for margins.
| Posed on 04 Feb 2022 | Posed by Gopika Gopakumar | Unauthorized servicesYes | Misleading MarketingYes |
| Guildlines Issued by Reserve Bank of India (RBI) | RBI concerned about online trading platforms #1OctaFX | RBI concerned about online trading platforms #2Olymp Trade | RBI concerned about online trading platforms #3IQ Option |
| SERP >10 | Brand Impact Medium | Search Visibility Low | Content Type News article |
| Search Visibility Low |
Top 3 negative keyword association :
- Misleading Marketing
- Unauthorized services
- online trading platforms
Expert Risk Assessment on OctaFX
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1 Comments
OctaFX has a consumer rating of 1.5 stars from 1 consumer complaints.
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OctaFX is a scam. They stole over $4000 from me and blocked me when I asked for a refund.