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Can't get funds from my broker

  • #61
  • Apr 11, 2014 3:54am Apr 11, 2014 3:54am
I really do not understand why people open trading accounts with unreputable firms. Would you open a bank account with a non regulated bank in a small third world island? Probably not so why open a trading account there?

There are a few very reputable brokerage firms where almost everyone can open an account remotely quite easily.
Citifxpro, Interactive Brokers, Oanda...

Also, the commonwealth is not the same thing as the overseas territories. It is true that the UK has overseas territories and that they are connected to the mainland in laws and regulations (with some differences) but it is untrue that commonwealth nations are in any way connected to the UK in terms of regulations and laws.
  • #62
  • May 23, 2014 12:27am May 23, 2014 12:27am
On January 2014, I deposit $100, on two months my account growth become $15k, when I withdraw it, the suspend my account and not process my withdrawal.
be very careful with this broker, I have make a thread on ForexPeaceArmy, please write out to make a big warn to this broker.
here the link: http://www.forexpeacearmy.com/forex-...fx-broker.html ​
  • #63
  • May 23, 2014 2:38am May 23, 2014 2:38am
I think FF should have a SCAM section as FPA for trader come to report their scam case.
  • #64
  • May 23, 2014 7:06am May 23, 2014 7:06am
Quoting yellowhat89
On January 2014, I deposit $100, on two months my account growth become $15k, when I withdraw it, the suspend my account and not process my withdrawal. be very careful with this broker, I have make a thread on ForexPeaceArmy, please write out to make a big warn to this broker. here the link: http://www.forexpeacearmy.com/forex-...fx-broker.html ​
Yes you are right. They are a Big fraud. As soon as you start making money they add slippage when you open and close a trade. second they lock accounts for withdrawel and asks for Physical documents by Post which will never reach to them as their address consists of P.O.BOX. No courier accepts documents to a P.O.BOX. One of my friends came back after a month which was sent via a regular post.
My Pips Stolen By The Broker
  • #65
  • May 23, 2014 7:54am May 23, 2014 7:54am
Quoting undergroundz
I think FF should have a SCAM section as FPA for trader come to report their scam case.
it's called the commercial section
  • #66
  • May 23, 2014 8:27am May 23, 2014 8:27am
Quoting DasPips
{quote} it's called the commercial section
  • #67
  • May 23, 2014 3:09pm May 23, 2014 3:09pm
OctaFX switch on plugin on profitable accounts. The plugin executed all market orders some pips worse, than we can see in a order window. Looks like a hidden spread, bigger in 3 times than spread in market watch window. It works always, not only on fast movements of the price.
  • #68
  • May 31, 2014 10:33am May 31, 2014 10:33am
Sorry that you guys have to go through this, but this is exactly what you get for going with such a broker. There are many many reputable brokers out there. Do a quick google search before depositing 1000s of dollars.
  • #69
  • Oct 1, 2014 11:26am Oct 1, 2014 11:26am
same happened with me,about 500$ still locked there
stay away from this crap
Sometimes it's better to be wrong,to learn..
  • #70
  • Oct 2, 2014 6:31am Oct 2, 2014 6:31am
Just stay with regulated brokers. They are just registred in St Vincent but use the registration like a regulation. Every company in St Vincent can be a FX Broker, Asset Manager etc.

I have also lost money with unregulated brokers some times before. You have no chance to see your money...
  • #71
  • Jan 23, 2015 6:06pm Jan 23, 2015 6:06pm
Isnt OctaFX regulated by IFSA? I have found these broker and everything looks good at first glance. Raw spreads and no commision fees surprised me
I think that on demo account I ll not find if they r good or bad.

But I really cant understand those issues with withdrawals. When you deposit from a curtain bank account, there shouldnt be a problem to make a withdrawal on same bank account. How can they accuse somebody a fraud

Also, about those slippage. How big was and how often? Does it really true that cTrader freeze from time to time or it was MT4?

Let me know if you already solved those issues with withdrawal.

Please, recommend me some good broker (low spread, acceptable commision fees) BUT WITH CTRADER OR OTHER GOOD PLATFORM. NO MT4 or MT5!!!

Thanks
DK
  • #72
  • Jan 24, 2015 6:09pm Jan 24, 2015 6:09pm
That's what a credit card is for (disputing fraudulent companies). Unfortunately it seems many no longer accept credit cards because of this consumer protection.
  • #73
  • Apr 17, 2015 5:18am Apr 17, 2015 5:18am
The spreads on OCTAFX are just CRAZZZZZZZZZY who the heck are their liquidity providers.How do they achieve such tight spreads
  • #74
  • Apr 21, 2015 8:26am Apr 21, 2015 8:26am
Quoting ericnyamu
The spreads on OCTAFX are just CRAZZZZZZZZZY who the heck are their liquidity providers.How do they achieve such tight spreads
straight from myfxbook spreads . I think guys we have been missing something if you care about spreads

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  • #75
  • Aug 19, 2015 11:47am Aug 19, 2015 11:47am
i would like to know how this broker Octafx is able to offer a minimum deposit of 500usd on a ecn account and still offer less than a pip spread on majors.anybody care to tell us the mechanics behind all these type of brokers
  • #76
  • Aug 19, 2015 1:38pm Aug 19, 2015 1:38pm
Quoting dendysutrisn
Wow, I was shocked to read this thread. I deposit more than $ 200 on OctaFx. But never make withdrawals because of my trade have not produced. But my referral make a deposit more than $ 4700 for following my beliefs on OctaFX and he has never made a withdrawal. But what about the future of my trade if it is true OctaFX like that? Damn!! {image}
I advise you to ask your friend split your fund and withdraw them gradually, don't rush, this broker must refuse your withdrawal if you or your friend withdraw all fund with one time.
  • #77
  • Aug 19, 2015 2:56pm Aug 19, 2015 2:56pm
Hi sir ​
I think they have the righ to confirm your identity plus secured bank account it is money which is power.
have a nice day please
focus while relaxed to see better
  • #78
  • Mar 17, 2017 2:10pm Mar 17, 2017 2:10pm
very nice thread and really thanks for sharing such information guys.
This helped me a lot and I must say peoples should read this to protect them self.
Hats off.
  • #79
  • Mar 17, 2017 3:00pm Mar 17, 2017 3:00pm
You were Lured to them by those "bonus $$" a ton of "good points" almost no negative sides.. you were blinded BY YOURSELF, YOUR EGO; THE "PROMISE" FOR QUICK MONEY

you dont know how to trade judging this picture (why you sell so much in a uptrend? )
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the "broker" its located in some remote island of the caribean wich is famous for "irregular" activities and yet you still complain about it...

the only one to "fault" its yourself and your ego.. no one else; at least try to learn a life leason out of this (i really hope you do, you need it)
  • #80
  • Mar 17, 2017 3:13pm Mar 17, 2017 3:13pm
I view these offsshore firms more like an IQ-test for novice traders..
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