Octafxmines review – is octafxmines.com a scam or safe?

Octafxmines review – is octafxmines.com a scam or safe?

Octafxmines Key Facts

🔴 Octafxmines offers questionable high return investment opportunities – a clear sign of a scam!

🔴 Octafxmines forges crucial contact information – beware!

🔴 Octafxmines does not have a license for the provision of its services – a huge red flag!

🔴 Octafxmines’s domain has been registered not even three months ago – another off-putting detail!

Octafxmines products and services

Octafxmines is a scam – plain and simple. We can say that with certainty because Octafxmines is not the first company that promises ridiculously high returns – upwards of 5% of your deposit daily, without being able to meet these promises or even seeking to. No, Octafxmines is simply after your deposit.

People should always be cautious when dealing with businesses offering enormously high yields because it’s scammers’ trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it’s a scam, so beware.

Octafxmines company and regulation

Octafxmines never claims to be licensed anywhere. Therefore, we cannot assume it to have the approval of any government body – a huge warning sign.

The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.

While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to. 

Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.

Octafxmines address and contacts

Octafxmines claims to have two offices – one in the UK on this address: 199 Bishopsgate London EC2M 3TY United Kingdom, and one in Germany, here – Seidlstraße 24-24a D-80335 Munich Germany. As stated above, however, Octafxmines is not licensed to operate in any of these locations. Thus, the only conclusion we can draw is that the addresses are not related to Octafxmines in reality.

Transparency is crucial when talking about brokers and investment companies, and it’s part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it’s generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company’s legitimacy.

Octafxmines website info

Octafxmines is hosted on a domain that has been online for two months – being registered in December of last year. Its billions of dollars in assets the company boasts with are just fictitious.

Octafxmines is also operated on a very unpopular domain –  one that does not even show up in SimilarWeb searches – another red flag for an investment company.

Octafxmines is hosted on this this IP address from the States – 162.0.235.140. None of the other over 3000 domains hosted there are related to Octafxmines in any way as far as we can tell.

The owners of the website have obscured themselves from WhoIs lookups – certainly their right, and a common enough practice, but we do expect more from investment companies.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

3 Comments

  1. This company has changed its name to Octafxmines Universe. Different name, same scam company.

    1. Changed its name to Octafx Universe.

  2. I have 1500 in actual deposit but my account is over 10k. Can i get any money back?

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