Is Octafx a scam/not?

@ Linda:

Is OCTAFX a scam / not? Are there any spread scams when opening buy/sell orders? Is it difficult to withdraw profit funds?

Personally, I have never traded on OctaFX. If any readers happen to be or have traded on OctaFX, please share your experience..

Regarding whether it is a scam or not, in our opinion, as long as it still exists, it cannot be said to be a scam, because if many people have been scammed, it would have gone bankrupt due to clients leaving and no one wanting to trade with that broker. As far as we know, OctaFX has many clients and IB in Indonesia.

However, in terms of regulation, OctaFX has not yet been regulated by a credible international regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA.
Currently, OctaFX has regulation from FSA St.Vincent and the Grenadines. Please read the OctaFX broker review here.

A credible international regulatory body is one that has been tested and recognized worldwide, and imposes strict sanctions on brokers if they violate agreed-upon provisions. The regulatory body is also responsible for the security of client funds.
But if you are interested in trading with this broker because of its facilities, bonuses, etc., it is okay as long as you don't use a large amount of funds.

- ….. Has OJK, BABPETI & OCTAFX broker been officially & illegally registered?

OctaFX is not a broker from Indonesia, so it does not need to be regulated by Bappebti and OJK, unless OctaFX wants to operate and have an office in Indonesia.

Read also: OctaFX Broker Testimonials

I just experienced this recently. Luckily, I was only testing deposits with a small amount first. The minimum deposit is 200k.

So the story is, I had closed all my orders yesterday. I closed all existing orders until there were none left.

When I logged in the next day, I was shocked to see 1 order appear in my trade tab. Even though I never placed the order and yesterday I made sure everything was clean, there were no orders or pending orders before I closed mt4.

This has happened twice now. Okay. From this, I already know that the octafx mt4 application is an application that sucks the balance from real accounts.
Strangely, my demo account is not being drained.

I reported to customer support, and they said it was a stop out. Of course it's a stop out if we didn't place the order.

I want to take this to the police, but they are very clever and don't want to reveal the location of their office. So, that's it, just good to know.

Luckily, I haven't deposited the actual funds yet. I would be crying blood. Just good to know, octafx.

Any suggestions, guys, for brokers that might be more trustworthy?
Because I don't want my funds to be drained by this forex vampire. Please suggest brokers, guys. Unofficial is fine as long as they don't scam.