WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
Global Broker Regulation & Inquiry App
Broker Search
English

简体中文

繁體中文

English

Pусский

日本語

ภาษาไทย

Tiếng Việt

Bahasa Indonesia

Español

हिन्दी

Filippiiniläinen

Français

Deutsch

Português

Türkçe

한국어

العربية

Download

A Visit to OCTAFX in Cyprus – No Office Found

Danger Cyprus

Philippou Constantinidi, Olziit, Limassol District, Cyprus

A Visit to OCTAFX in Cyprus – No Office Found
Danger Cyprus

Reason for this visit

Cyprus imprudently purchased Greek government bonds in 2012. When the Greek government bonds default occurred, the Cyprus banking system suffered heavy losses exceeding 30% of the annual GDP of Cyprus, and the countrys domestic debt crisis occurred. In response to the crisis, the Cyprus government introduced a terrible solution that was opposed by all the people, which aggravated the crisis. At the same time, some people in Cyprus discovered that having an upward trend in price, various foreign currencies that were independent of the sovereign currency might be able to cope with this crisis. As a result, people poured funds into the small foreign exchange market in an attempt to hedge and protect themselves. For various reasons, Cyprus has gradually become a country with active foreign exchange transactions. In an attempt to help investors better understand the current situation of foreign exchange brokers in Cyprus, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Cyprus to visit forex broker OCTAFX as planned according to its regulatory address that 47 Strovolou Avenue, Kyros Tower, 5th Floor, CY 2015, Nicosia, Cyprus.

The investigators came to 47 Strovolou Avenue in Nicosia, the capital of Cyprus, for a visit to the brokers office, and located the “Kyros Tower,” a 6-storey commercial building, in a business center of the city. And the building is easily accessible via public transportation.

Upon arrival at the building for further investigation, the survey personnel noticed a directory by the entrance indicating that the 5th floor was occupied by “Andreas P. Siapanis & Associates LLC.” It is a law firm that has nothing to do with OCTAFX. Additionally, they did not find the company name or logo of OCTAFX.

3.jpg
2.jpg
1.jpg

Then the inspection team took the elevator to the 5th floor but failed to discover any signs of OCTAFX after a thorough search, including its company name and logo.

Through the on-site investigation, it has been confirmed that the broker does not have a physical presence at the location.

4.jpg

Conclusion

The survey team went to Cyprus to visit broker OCTAFX as scheduled, but did not find the company at its regulatory address. Accordingly, investors should be meticulous in choosing the broker.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.

Broker Information

Regulated
Octa

Website:https://www.octafx.eu/

5-10 years |Regulated in Cyprus |Market Making(MM) |High potential risk |
  • Company Name:
    Octa Markets Cyprus Ltd.
  • Country/ Region of Registry:
    Cyprus
  • Abbreviation:
    Octa
  • Official Email:
    support@octafx.com
  • Twitter:
    https://twitter.com/OctaFX
  • Facebook:
    https://www.facebook.com/octafx/
  • Customer Service Number:
    0035725251973
Octa
Regulated

Website:https://www.octafx.eu/

5-10 years | Regulated in Cyprus | Market Making(MM) | High potential risk |
  • Company Name: Octa Markets Cyprus Ltd.
  • Abbreviation: Octa
  • Country/ Region of Registry: Cyprus
  • Official Email: support@octafx.com
  • Twitter:https://twitter.com/OctaFX
  • Facebook: https://www.facebook.com/octafx/
  • Customer Service Number:0035725251973

Check whenever you want

Download App for complete information

Easy to check supervision

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com