Reported as a scam / unregulated
Why OctexTrade is on the register
OctexTrade claims to be one of the largest forex and cryptocurrency brands around which is authorized and regulated by the UK Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC), and the Financial Services Conduct Authority (FSCA) of South Africa. However, we did not find any match results for this broker in the above watchdogs’ registries. The regulatory information this broker claim is a false statement for unsuspecting traders. Besides, this broker shows its company address is in the United States. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to OctexTrade in the above two regulatory bodies. The truth is, OctexTrade is not under valid regulation by any regulators to do forex. Investors’ funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.