Reading Time: 3 minutes SCAM RECOVERY

Octangle FX Review – Watch Out For This Scam Broker

May 26, 2021
Octangle FX Scam Brokerage

Since we’ve noticed that OctangleFX is a UK-based broker, we couldn’t resist a question. Is OctangleFX regulated? This broker is running a scheme at its finest, and we will show you exactly how it’s operating and what to do if you were scammed by OctangleFX.

Let’s start profound our review.

Broker status:Unregulated European Broker
Regulated by:No Regulation
Broker Owner:Octangle FX Limited
Headquarters Country:The UK
Foundation year:2020
Supported Platforms:MT5
Minimum Deposit:$100
Cryptocurrencies:Yes – BTC, XRP, ETH
Types of Assets:Forex (FX), CFDs, Commodities, Indices, Shares, Cryptocurrencies (Cryptos)
Maximum Leverage:1:500
Free Demo Account:Yes
Accepts US clients:No

Octangle FX Regulation and Security

OctangleFX is a broker owned by OctangleFX Ltd, allegedly based in the UK. Why do we say allegedly? Because in order to be a UK-based company, first you need to exist in the register of companies, and secondly, you need to be the FCA regulated to provide financial services.

What’s Wrong With Broker Regulation?

We’ve checked the FCA register to confirm if OctangleFX regulation exists. And as suspected, the broker is not listed anywhere. Meaning that the broker is not legit and not trustful. Be aware of this fact when opening an account with OctangleFX.

Octangle FX Trading Platform

What Trading Platforms Are Available?

After careful review of the broker’s website, we found that the OctangleFX trading platform is an MT5. This is not as bad as a web trader, but in order to be competitive on any market, the best platform to offer is an MT4. It has more features than the MT5 and definitely more users.

The leverage with OctangleFX broker goes up to 1:500, which proves that the company cannot be FCA regulated. The FCA is limiting the leverage to up to 1:30 for currency pairs. And for a good reason. Any higher leverage is exposing your funds to too high risk.

Do not fall for the OctangleFX scam and beware of WinnGroups, TradingTeck and IQMarketsCFD brokers.

What Can You Trade With This Broker?

On the first look, there is a variety of trading assets – currency pairs, commodities, indices, stocks, and cryptocurrencies. However, if you dive deeper into the OctangleFX review, you will see that there are only 5 cryptocurrencies available, which is not the best offer we’ve seen, to be honest.

There are 5 account types clients can choose from. The OctangleFX minimum deposit for the Micro account is $100. However, if you know that regulated brokers can let you trade with as low as $10, why would you ever invest $100 with an unregulated brokerage.

Be aware that many clients filed a complaint about the broker due to withdrawal issues.

The spread for the Micro account starts from 2.0 pips, which is also too high. An average spread in the trading industry is 1.5 pips for EUR/USD pairs.

Scammed by Octangle FX broker? What to Do?

If you were misled or scammed by OctangleFX, there is a possibility to get your money back. You need to file a dispute and request a chargeback. You are not the only victim of the OctangleFX scam, unfortunately.

Therefore, we have a lot of experience and knowledge about the steps that need to be taken for you to get the money back.

If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us. Contact us via chat immediately and book your free consultations!

Don’t Let the Scammers Go Away for Free!

What is Octangle FX?

OctangleFX is an online trading brokerage without regulation.

Is Octangle FX regulated?

OctangleFX is not regulated by any authority body and operates illegally.

Is my money safe with the Octangle FX broker?

Since the broker is not regulated, your money is not safe with OctangleFX.