Score

1.23 /10
Danger

Octafxelitetrade

United Kingdom

1-2 years

Suspicious Regulatory License

High potential risk

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Comparison

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Exposure

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Website

Score

Regulatory Index0.00

Business Index4.87

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning: Low score, please stay away! 2
Previous Detection : 2024-10-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Octafxelitetrade · Company summary

Anonymous Origination

Given that we have no information about the origins of the Octafxelitetrade trading platform, and the fact that it has only been operating for less than two years, with little to no industry reputation. The short operating history makes it challenging for such a platform to have established a credible reputation within the industry. Therefore, it can be reasonably inferred that this is simply a temporary, here-today-gone-tomorrow type of trading platform with no long-term sustainability.

Anonymous Origination

Shaddy Operation without Regulation

WikiFX has given a relatively low score of only 1.15 out of 10 to this broker. This suggests that Octafxelitetrade may not possess the necessary credentials, financial stability, or operational transparency that one would expect from a reliable and trustworthy trading platform.

Shaddy Operation with Regulation

Invalid Official Website

Octafxelitetrade's official website at https://octafxelitetrade.com/ is currently non-functional. When attempting to access this URL, the page fails to load properly, and ultimately results in a connection forbidden message.

Invalid Official Website

Conclusion

Overall, Octafxelitetrade is an unregulated broker with a low score. Traders should exercise extreme caution when dealing with this broker. To learn more about the regulatory status and operational details of other brokers, please visit the WikiFX website.

User Reviews

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User comment

4

Comments

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Asher Li
more than one year
They did give me very tight spreads when I traded with them a long time ago, but later, frequent slippages occurred, so I left them.
They did give me very tight spreads when I traded with them a long time ago, but later, frequent slippages occurred, so I left them.
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2024-08-07 12:02
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Noah Smith
more than one year
I placed a buy order at 2028.67, but despite the price only reaching a high of 2031.58 on their platform, the order somehow triggered! Even worse, my stop-loss order set at 2026.43 to limit losses never activated. They claim a "gap" caused this, but there's nothing on the chart to support that excuse. I sent them screenshots as evidence, but they refused a refund. This is unacceptable! My stop-loss should have protected me, but Octafxelitetrade's malfunctioning platform or manipulative practices cost me big time.
I placed a buy order at 2028.67, but despite the price only reaching a high of 2031.58 on their platform, the order somehow triggered! Even worse, my stop-loss order set at 2026.43 to limit losses never activated. They claim a "gap" caused this, but there's nothing on the chart to support that excuse. I sent them screenshots as evidence, but they refused a refund. This is unacceptable! My stop-loss should have protected me, but Octafxelitetrade's malfunctioning platform or manipulative practices cost me big time.
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2024-04-18 16:11
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