Learn about the increasing popularity of OctaFX, the international Forex broker, in Malaysia. This article aims to assess OctaFX’s credibility and whether it is a trustworthy broker or a potential scam.
This article aims to assess the trustworthiness of OctaFX, an international Forex broker gaining momentum in Malaysia. Find out if OctaFX can be trusted as a reliable broker or if there are concerns about it being a potential scam.
With Forex trading witnessing a surge in popularity in Malaysia, new investors seek assurances before venturing into the financial markets. One key factor in their decision-making process is finding a trustworthy broker.
This article centres on OctaFX, a prominent Forex broker making its mark in Malaysia. The OctaFX Malaysia review will delve into whether OctaFX is a reliable broker or if there are any concerns regarding its legitimacy as a potential scam.
What is Forex broker OctaFX?
Operating since 2011, OctaFX stands as an online Forex broker facilitating financial market access across the globe, spanning more than 180 countries. Complementing its services, the broker offers free educational and analytical content catering to traders of all levels, from entry-level articles to comprehensive research on popular financial instruments and markets.
Additionally, OctaFX actively contributes to charitable and humanitarian causes with a focus on enhancing educational infrastructure and supporting local communities, both in Malaysia and worldwide. A recent partnership with Ideas Academy, a Malaysian educational organisation, facilitated the digital transformation of multiple learning centres, benefiting refugees and underprivileged students.
Is OctaFX Malaysia fake or legit?
With more than 12 years of industry experience, OctaFX’s status as a reputable and long-standing international broker is apparent.
However, in 2022, Forex OctaFX found itself listed on both the Financial Consumer Alert List (FCA) of Bank Negara Malaysia (BNM) and the Investor Alert List of the Securities Commission Malaysia (SC), along with numerous other Forex brokers. These listings prompted questions from investors, falsely leading many to believe that there was an OctaFX scam taking place.
OctaFX listed in FCA by Bank Negara Malaysia
The alert listings by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) serve to inform the public about unlicensed or unregulated entities. It is essential to note that not all entities on the lists, including OctaFX, are fraudulent or scams. Numerous companies, like OctaFX, hold multiple international licences and incorporation documents, allowing them to provide services to clients worldwide. The listings solely signify that these entities lack licences within Malaysia.
Does OctaFX reliably pay money?
Yes, Malaysian clients of OctaFX enjoy efficient withdrawal services, facilitated through diverse channels such as local banks, Mastercard, Visa, Skrill, Neteller, and various payment processors. Additionally, OctaFX accommodates clients by offering a broad selection of cryptocurrency methods, catering to individual preferences and needs.
Should you trust OctaFX?
Yes, you can trust OctaFX. With a track record spanning over 12 years, OctaFX has gained the trust of millions of clients worldwide. This trust is backed up by numerous industry awards, such as the recent ‘Best Forex Broker Malaysia 2022’ from Global Banking and Finance Review and ‘Best Global Broker Asia 2022’ from International Business Magazine.
Moreover, OctaFX’s commitment to security is evident through its rigorous protocols, featuring segregated accounts and negative balance protection to meet international standards. To further ensure safety, OctaFX requires identical payment details for deposits and withdrawals, safeguarding users against unauthorised access to funds. The broker also employs the 3D Secure technology for credit and debit card processing, ensuring the utmost transparency and safety in Visa transactions. In conclusion, our OctaFX Malaysia review concludes that the broker is legitimate.
