3.11. The Company reserves the right to refuse to the Client by refunding the Client`s initial deposit (i.e. the total amount deposited by the Client) at any time if the Company deems it appropriate and necessary (including, but not limited to, malicious, illegal, inappropriate, fraudulent or other unacceptable acts of the Client). From Divyesh Singh: The Law Enforcement Directorate (ED) has frozen several bank accounts with Rs 21.14 crore balances of M/s OctaFX and its subsidiaries due to illegal online foreign exchange (Forex) transactions. Disclaimer: Content on or through this Site (“Content”) is provided by third parties and does not constitute an endorsement by FUSION MEDIA of such third party content or products. FUSION MEDIA has no control over the Content, is not responsible for its accuracy, availability or legality, and hereby disclaims any liability for the Content. All transactions you enter into with third parties listed on or linked from this site are solely between you and such third parties and are at your own risk. Please also note our risk warning. FUSION MEDIA accepts no responsibility or liability for any damage or loss caused in connection with the use of or reliance on content OctaFX Alternative Broker comparisons Comparison Broker Eightcap vs OctaFXBrokers comparison FBS vs OctaFXBrokers comparison OctaFX vs XMBrokers comparison Tickmill vs OctaFXFaq Is OctaFX trustworthy? With over a decade of experience and 6.6 million trading accounts from over 100 countries, should traders be able to trust OctaFX.Is OctaFX legally? OctaFX is a duly registered international company (IBC) based in St.
Vincent and the Grenadines and operating legally. Is OctaFX legal in India? OctaFX does not have a license in India, but it is not a requirement, so accepting Indian traders for OctaFX is legal. Can I withdraw money from OctaFX? OctaFX offers bank transfers, credit/debit cards, and various cryptocurrencies as withdrawal methods. It processes requests between one hour and three hours, making it one of the best in its class. About the AuthorDailyForex.com Team The DailyForex.com team consists of analysts and researchers from all over the world who monitor the market throughout the day to provide you with unique insights and useful analysis that can help you improve your Forex trading. I`m not used to advising someone on brokers because I believe everyone should choose the right option for themselves so they don`t blame anyone later. Therefore, I just want to tell you about my experience working with this broker. Initially, I checked the legal documents and found that everything was in perfect order. The company is regulated and wants to work in the legal field.
I have not found any problems in the implementation of the agreements. It is convenient to trade and the terminals are familiar. There are some issues with the support team as sometimes you have to wait a long time for a response. I do not exclude that the load is great, but I still want the broker to pay attention to it and correct the situation. 1.1. This Client Agreement is between Octa Markets Incorporated (hereinafter referred to as the “Company”) and the Client who has submitted a registration form to www.octafx.com (hereinafter referred to as the “Client”). Previously, the offices of many fintech giants, including Cashfree, Paytm, Razorpay and many others, were raided as part of an investigation involving illegal Chinese loan sharks and the HPZ token case. 16.3.1. First and last name of the Customer (or name of the company if the Customer is a legal entity) 3.3. Subject to the Agreement, the Company may enter into transactions with the Client using the trading instruments specified on the Company`s website under www.octafx.com.
2.52. “Website” means the Company`s website at www.octafx.com. The Directorate of Enforcement (ED) has frozen the account balance of OctaFX and its subsidiaries in the amount of Rs 21.14 crore in case of illegal online Forex trading through international brokers under the Foreign Exchange Management Act (FEMA). “ED has frozen the balance of the INR 21.14 Cr account of M/s OctaFX and its subsidiaries in various bank accounts. Previously, ED had conducted searches of various premises of M/s OctaFX India Private Ltd. and related concerns under FEMA regulations in the case of illegal online forex trading through international brokers, namely the OctaFX trading app and website,” the agency said in a statement. The said application (OctaFX) and its website have not been authorized by the RBI (Reserve Bank of India) to trade Forex. The conduct and operation of forex trading (which is not conducted on a recognized exchange) is illegal and also violates FEMA regulations,” ED added. OctaFX is not authorized by the RBI to trade in Forex trading, the conduct and operation of the company is illegal: ED I started my trading career at OctaFX. This broker was recommended to me by a friend. There were several arguments in favor of this company.
First of all, it really works in the legal field and does not cheat with transactions (they offer universal terminals, MT4 and MT5, for trading – for which there are many guides on the Internet). Secondly, the entry threshold on this website is only $100. Considering that I am still a student, the start-up capital is very limited. I signed up on the OctaFX website a few weeks ago and have already withdrawn my first profit of $300. At the moment, everything is fine and the flight is normal. 8.1. Full trading conditions, including but not limited to current spreads, currency pairs, lot size, trade size, commissions, volume and/or deposit restrictions and account types, are in www.octafx.com. The Company reserves the right to modify, add or cancel all or part of the trading conditions. Such changes require advance notice. Earlier Thursday, the Law Enforcement Directorate said it had conducted a research operation related to an investigation into tokens based on HPZ apps and other similar apps. An amount of INR 9.8 Cr has been frozen as part of the cross-investigation into several illegal credit apps and the HPZ token scam. 21.9 The Client unconditionally warrants that the source of the funds used to trade with the Company is legal and that the funds have not been obtained as a result of illegal activities, fraud, money laundering or other illegal sources.