fbpx
Connect with us

Announcement

Can You Believe OctaFX Scam Accusations? Here’s Our OctaFX Malaysia Review

Published

Aaa Template 2
Source: 123RF & OctaFX

Forex trading is becoming popular in Malaysia, but there are several factors that new investors should be aware of. It’s important to stay safe when entering financial markets, and this can be achieved by choosing a trustworthy broker.

In this article, we will focus on an OctaFX review and look over its status as one of the most noteworthy Forex brokers in Malaysia. Let’s discover whether OctaFX is a scam or not.

 

What exactly is OctaFX?

OctaFX serves as an online Forex broker, granting access to financial markets worldwide since 2011. It currently operates in over 180 countries and delivers free educational and analytical content. This content ranges from beginner-level trading articles to in-depth research and analysis of popular financial instruments and markets.

The company supports charitable and humanitarian initiatives to enhance educational infrastructure and uplift local communities in Malaysia and beyond. Recently, OctaFX partnered with Ideas Academy, a Malaysian educational organisation, to digitalise multiple learning centres for refugees and underprivileged students.

Image1 1
The website front page of OctaFX

 

Is OctaFX authentic?

OctaFX is unquestionably a legitimate and long-standing international broker with more than 12 years of operation.

In 2022, OctaFX found itself included in both the Financial Consumer Alert List (FCA) of Bank Negara Malaysia (BNM) and the Investor Alert List of the Securities Commission Malaysia (SC), alongside several other Forex brokers. This raised concerns among investors, necessitating further clarification.

Image2
OctaFX listed on Bank Negara Malaysia’s FCA

Both authorities (BNM and SC) clarify that inclusion in the alert lists is primarily intended to raise awareness about entities lacking licences or regulations under their jurisdiction. It is essential to note that not all companies listed are fraudulent or involved in scams. In fact, many of them, including OctaFX, possess multiple international licences and incorporation documents that permit them to serve clients globally. The lists merely indicate that these entities are not licensed in Malaysia.

 

Does OctaFX pay out cash?

136231401 L Normal None

Yes, OctaFX facilitates efficient withdrawals in Malaysia through a diverse array of options, which include local banks, Mastercard, Visa, Skrill, Neteller, and various payment processors. Additionally, the broker supports a wide range of cryptocurrency methods to cater to different client preferences and needs.

 

Can OctaFX be trusted?

Yes, OctaFX is a trustworthy broker. The broker’s credibility has been consistently validated through industry awards, including recent recognitions such as the ‘Best Forex Broker Malaysia 2022’ award by Global Banking and Finance Review and the ‘Best Global Broker Asia 2022’ award by International Business Magazine.

OctaFX adheres to strict protocols, including segregated accounts and negative balance protection, in full compliance with international standards. To further enhance safety, the broker enforces identical payment details for deposits and withdrawals. This precautionary measure prevents unauthorised third parties from withdrawing funds, even if they manage to gain access to a user’s account. Additionally, OctaFX employs the 3D Secure technology for credit and debit card processing, providing heightened transparency and safety for all Visa transactions.

 

Also read: OctaFX Lands On BNM Alert List: Here’s How It Impacts M’sian Traders

Aaa Template Recovered 1

Source: 123RF

Just In

Collage 89 Collage 89
News6 hours ago

Johor Government May Implement a 4.5-Day Workweek in the Near Future

A 4-day workweek sounds ideal, but a 4-and-a-half day workweek doesn’t sound bad either. Johoreans may be in luck next...

My Post 1 2024 11 21T160023.537 My Post 1 2024 11 21T160023.537
News8 hours ago

“UPSR get D, SPM can get A” – PMX Responds to BERSIH Giving Him a Grade D in ‘Report Card’

Prime Minister Datuk Seri Anwar Ibrahim has opened up about BERSIH’s ‘report card‘ on his administration’s performance in conjunction with...

My Post 1 2024 11 21T114442.032 1 My Post 1 2024 11 21T114442.032 1
News12 hours ago

PDRM is Offering 60% Off Selected Traffic Summons at Govt’s 2nd Anniversary Event This Weekend!

In conjunction with the MADANI government’s 2nd anniversary on 24 November (Sunday), the Ministry of Home Affairs of Malaysia (KDN)...

Collage 17 1 Collage 17 1
News1 day ago

MCPF Calls for Vape Ban, Warns Addiction to Substances Can Lead to Unhealthy Behaviours Like Theft

The Malaysian Crime Prevention Foundation (MCPF) is urging for the sale of e-cigarettes or vape devices to be banned or...

Feat Image Lesen Feat Image Lesen
News1 day ago

Anthony Loke: Road Users in M’sia May Have to Pay for Physical Driving License Cards Starting Next Year

Transport Minister Anthony Loke Siew Fook today iterated that the Government will continue with the implementation of digital driving licenses...

Collage 15 2 Collage 15 2
News1 day ago

Filipino Couple Caught Living & Working Illegally in Malaysia Using Fake MyKads That Cost RM250 Each

A Filipino husband and wife were arrested during a raid on November 19 at a house in Pandan Indah yesterday...

Feat Image Apple Ind Feat Image Apple Ind
News1 day ago

Apple Offers to Increase Investment in Indonesia Tenfold to RM446 Million to Lift Country’s iPhone 16 Series Ban

Previously, we shared how the Apple iPhone 16 Series is banned from being sold in Indonesia until the tech giant...

My Post 1 2024 11 20T144359.263 My Post 1 2024 11 20T144359.263
News1 day ago

BERSIH Names Ismail Sabri the Best PM Since 2009, Calls Out PMX for Lack of Urgency with Reforms

In conjunction with the upcoming 2nd anniversary (24 November) of Anwar Ibrahim’s administration, The Coalition for Clean and Fair Elections,...

Announcement

Latest Videos

TRENDING TODAY