OctaFX Broker Review: Is it a Legit Broker?
OctaFX is a scam broker, and there are no two thoughts about it. From the looks of the website to its services, there is nothing worth trusting. Besides, going by the tales of its old users, the broker indulges in highly inappropriate and questionable trading ways that cannot fit well with decent brokers. Moreover, its integrity is highly questionable and offends the sensibilities of a trader. Thus, it makes the brokerage company dubious. Plus, the money once invested in it are not safe because several investors have lost their money midway to no avail. Also, there has been no intimation about it either. The OctaFX review 2022 makes more such startling revelations that would spread awareness in the trading world against the charlatan broker’s fraud behavior.
OctaFX: Changes language automatically
Working on the online portal of OctaFX is impossible. The broker automatically changes the language, which is so irritating that a trader would immediately switch to another brokerage firm like Investby or ABinvesting. It does not intimate any of its users before initiating the change. And people unaware of that native language turn off anyone. How can a person living in Britain understand the Mexican language? But there’s an issue, which seems like it is a virus and needs resurrection. However, there’re no attempts to get it right. No matter how many times a person tries to correct it, that makes no difference.
A trader may get tired to get it right, but it won’t happen. Also, there is no escape route. An investor gets too much engulfed in it that a thought of trading never passes in mind. Hence, a lot of time gets wasted during the process. Perhaps, this is the indication that the broker is a fraud. Besides, click here to find the best business brokers in the NYC.
Come what may, even after thousands of attempts, one cannot change the language. That means that the broker is asking for the surrender. Think of a situation, if one cannot control the language option which helps a trader to read and understand the ways of trading, how can it allow an investor to trade at a free will? There’s absolutely no chance. There’re stories that OctaFX even resorts to extortion, once a market player registers on it.
The broker has all information from residential address to mobile number, government ids, and bank account details. These can be utilized against a trader when the time comes, or there are buyers of them in the market. The broker may sell them and earn money through a jiggery-pokery way.
Is OctaFX a scam or safe?
The brokerage firm presents all characteristics of money business. The broker hides the license and registration numbers, entirely, and that is enough to call it fake because no brokerage service can sustain without these two crucial factors. It makes a clear case of forgery. So, users must think several times and should be the associate because it will only lead to loss of money.
Besides, the illegal activities are checked by one. Even after going through the website intensely, we could not find even a shred that can say there’s is authenticity in practice. Moreover, it is blasphemous to trade on an online platform that has no regulatory body because it invites monetary losses, and with OctaFX, it is inevitable.
The privacy policy is too bad
The privacy policy of the broker blames it on the trader if anything goes wrong. It does not take any responsibility and tries to avoid contact with the user directly. So, indulging with such a brokerage firm while trading in the financial market is a big no. It will force the trader to take a wrong step, and when it happens, OctaFX would be the first one to run away from the scenario. Besides, in case of any inquiry, it will shrug off all responsibilities by exhibiting the privacy policy of the company. The trader would lose the money as well as the identity. And the brokerage firm would enjoy the money of its users.
So, once should glance over that page, which clarifies the crookedness of OctaFX like no other. One would not need a piece of evidence or proof to notify the fallacy further.
Poor design
The design does not suit the ambiance and feel of the trading market. Also, it hides essential information than offering them to people for their progress. The graphics are too loud, and they are too tough on the eyes for a watcher. It looks like the website belongs to some automobile company instead of the financial brokerage. Many people may even bounce off it after a single glance. His photographs and color combinations are distracting too.
Pathetic user Interface
The user interface only complicates things for clients and people cannot find the necessary tools, charts, and information required by a trader for investment. That amounts to a breach of trust, and the broker does not pay heed to more such issues. It is because of the deficient motive of OctaFX.
The referral program is deceitful
The referral program that the broker projects are not of any use to a trader; instead, it is a trap set up by a broker to take advantage of a market players’ innocence. That is something a trader has to be wary of and think about while investing in the market.
In it, the broker asks for inviting a friend so that it can thug him/her as well. A trader shouldn’t commit the mistake because OctaFX would loot that ally as well and push that person to the hill of bankruptcy. Thus, even if it may present some alluring idea, an investor should not pay attention to it. Otherwise, that would lead to a grave mistake.
Moreover, there is nothing that presents any benefit to an investor. Rather, it can create a rift among friends when they get cheated the same way on a trader’s recommendation.
No updated education
The broked does not present any information about the latest trend in the market. So, anything that a trader reads or studies from the educational material is done and dusted a long ago. Now, there are better ways of working and technologies coming up, but the broker keeps them hidden from its user. It helps in making a fool out of those clients and keeps them in a loop.
In that absence, every time a market player tries to spend some money, it invites only losses, and that offers great benefits to OctaFX.
The frequently asked question segment is useless, just like any other alternative. It does not provide answers to the queries that people want to know. Thus, it further takes away the confidence of its users from the broker.
Lousy customer care
In the name of customer care, the broke presents merely a live chat option that asks for multiple formalities and does not answer in the end. But by the time one writes the answer, it takes away all confidential detail from the trader. If that’s not cheating, then what it is? There is no phone number for dialing and speaking with an executive. Moreover, the live chat does no justice to people and keeps them hooked unnecessarily not to perform trading.
Conclusion
OctaFX review 2021 tells that how bad a broker can be. It has broken all the boundaries for its selfishness and cruelly earning money from clients. Moreover, there’s no trading account for transacting in the market. Also, the website takes forever to open. Instead, brokers like 101investing, PrimeFin, and HFTrading are significant investors’ choices to enter the market.
