OctaFX is one of the dubious brokers that pose a real danger to the practicing trader. The exchange intermediary has a simple website created from a cheap template. He does not represent any value, but skillfully manipulates people. The victims of the scam are novice investors who intend to quickly increase their capital. To protect market players, today we will describe a popular fraudulent scheme, talk about the key features of the company.
Characteristics of the intermediary OctaFX
Like every dubious project, our today’s hero declares his dream to achieve more. On the official website, he publishes numerous awards, which allegedly confirm the high quality of the services provided. OctaFX Company calls itself a reliable business partner in the Forex market. It is committed to helping traders make effective trading decisions.
The company’s mission is to provide outstanding brokerage services. It guarantees a clear and precise management of financial resources, favorable trading conditions and high-quality service. All this allows the market player to increase his potential profit. The exchange intermediary talks about the constant development and improvement of standards, but real clients describe a completely different picture. They note that the office is in one place, and its trading conditions are only getting worse.
Features of trading activity
The company has prepared only two accounts that have minor differences. In both cases, the spread level is from 0.6 points, there is no commission. The starting capital is 100 US dollars. Such an investment allows transactions with currency pairs, precious metals, energy resources, indices, cryptographic coins or stocks. The trader is provided with flexible leverage up to 1:500. Leverage may vary depending on the selected instrument.
When describing its trading conditions, OctaFX focuses on the following features:
- Thanks to low spreads, you can significantly increase the final profit.
- Orders can be opened and closed at any time. In this case, the market player will not pay for swaps.
- Fast order execution guarantees buying and selling at the best price.
- Negative balance protection allows you to increase your trading confidence.
The company claims that no additional commission is charged when withdrawing funds or making exchange transactions. The market player is told about favorable conditions for cooperation, but these words need to be confirmed. To find out the truth, you should read the reviews of real customers.
Earnings on the referral program
By registering as an introducing broker, a person can get free access to a ready-made business platform. It will allow you to achieve your goals and clearly track the result. OctaFX Broker claims that the referral will receive commission up to 80% of the spread. The partner has access to daily commission payments and more than 25 payment methods. Profit is calculated depending on the number of invited customers. The referral can determine his income in advance using a special calculator on the official website of the project.
What are they saying about OctaFX? Merchant reviews
Scammers allow you to withdraw small amounts, but as soon as the savings become global, restrictions begin. Over time, the user may be blocked from the output. The company offers quite favorable conditions, but the quality of its service leaves much to be desired. The commission is constantly changing, which does not allow predicting the outcome of the transaction. Trading in any case brings losses, and technical support does not cope with its tasks.
Many market players say that OctaFX are scammers. The quality of service suffers greatly at this office. The system frequently freezes. Project staff assure that these are rare phenomena, but problems are observed almost daily. An attempt to withdraw funds was not successful. The office left the money inside its own system.
Customers describe severe payout delays. The choice of assets is too small, I would like more. The company is not developing, but its payment systems are constantly changing. Trading conditions are not too good, market players are planning to refuse cooperation. The office does not differ in unique conditions and provides very mediocre services.
For the sake of fairness, it should be noted that there are also positive comments on OctaFX’s activities on independent resources. The review allows you to conclude that there are profitable no deposit bonuses. The market player lost the donated money, but after a while brought his own funds into the system. He liked the wide variety of platforms, quality responsive support.
Why should the project be abandoned?
Most of the reviews are negative. Market players talk about the crimes of the office, which is trying to appear as a bona fide broker. She describes the chic conditions of cooperation, while in reality she takes away the funds of gullible clients. During market trading, freezes occur that contribute to the drain. Everything points to the fact that earnings in this system are almost impossible.