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Markets Octa

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Operating status: SCAM

Website: https://marketsocta.com/

Broker violations and abnormal records
  • 2022-06-16 The Cyprus CySEC Added Markets Octa into Its Warnings

    On 17 June 2022, the Cyprus Securities and Exchange Comission (CySEC) issued a warning that Markets Octa is not authorized to provide financial services. You may visit: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=fddeb549-b2e6-400f-8b5b-ba2d881d9061

    On 17 June 2022, the Cyprus Securities and Exchange Comission (CySEC) issued a warning that Markets Octa is not authorized to provide financial services. You may visit: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=fddeb549-b2e6-400f-8b5b-ba2d881d9061
  • 2022-07-14 BrokersView has Reviewed that Markets Octa is an Unregulated Forex Broker

    Markets Octa claims it started business in 2005 and is a 15-year-experienced broker. However, we checked its domain and found the domain was created on 21 Jan 2022. How could it start its business in 2005? It is a red flag. 

    Markets Octa also claims to be a regulated broker while presenting no specific regulator. This broker only gives license number 372/18 which is in the form of the licenses issued by the Cyprus Securities and Exchange Commission (CySEC). So we searched CySEC and found a matching result. However, the license number belongs to another firm named "Octa Markets Cyprus Ltd" instead of "Markets Octa". And the domain "https://marketsocta.com/" is not one of the domains approved by CySEC. Markets Octa may be a clone firm that falsely used the license information of a regulated firm

    Moreover, CySEC issued a warning that Markets Octa is not authorized to provide financial services.

    The truth is Markets Octa is not regulated by any regulators. Letting this broker hold or control investors money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.

    Markets Octa claims it started business in 2005 and is a 15-year-experienced broker. However, we checked its domain and found the domain was created on 21 Jan 2022. How could it start its business in 2005? It is a red flag. Markets Octa also claims to be a regulated broker while presenting no specific regulator. This broker only gives license number 372/18 which is in the form of the licenses issued by the Cyprus Securities and Exchange Commission (CySEC). So we searched CySEC and found a matching result. However, the license number belongs to another firm named "Octa Markets Cyprus Ltd" instead of "Markets Octa". And the domain "https://marketsocta.com/" is not one of the domains approved by CySEC. Markets Octa may be a clone firm that falsely used the license information of a regulated firmMoreover, CySEC issued a warning that Markets Octa is not authorized to provide financial services.The truth is Markets Octa is not regulated by any regulators. Letting this broker hold or control investors money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
  • 2022-11-22 BrokersView has found that Markets Octa is not working

    BrokersView found the domain "https://marketsocta.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    BrokersView found the domain "https://marketsocta.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

Related Complaints

Q&A

Is it safe to trade with Markets Octa?

Mikka Litmanen
New Zealand
2022-07-19
ANSWER Markets Octa is not a regulated or licensed broker.Markets Octa claims it started business in 2005 and is a 15-year-experienced broker. However, we checked its domain and found the domain was created on 21 Jan 2022. So how could it start its business in 2005? It is a red flag. Markets Octa also claims to be a regulated broker while presenting no specific regulator. This broker only gives license number 372/18 which is in the form of the licenses issued by the Cyprus Securities and Exchange Commission (CySEC). So we searched the license number in CySEC and found a matching result. However, the license number belongs to another firm named "Octa Markets Cyprus Ltd" instead of "Markets Octa". As per the details shown on CySEC, Markets Octa (domain: https://marketsocta.com) has no connection with Octa Markets Cyprus Ltd since the former's domain is not one of the domains approved by CySEC. Markets Octa may be a clone firm that falsely used the license information of a regulated firm.Moreover, CySEC issued a warning that Markets Octa is not authorized to provide financial services. You can check the full warning from here.These proofs make it clear: Markets Octa is not regulated by any regulators to provide forex services. Investors' funds in the broker are unsafe and can not be protected by any laws. We would recommend traders stay away from unregulated brokers like Markets Octa and trade with licensed brokers.
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I want to do some trading in this broker, is it regulated?

Jacob Chapman
Andorra
2022-08-04
ANSWER Markets Octa is not a regulated or licensed broker for traders even though it states offers that look good to be true. Markets Octa claims to be a regulated broker and only presents a license number 372/18 which is the same format as the licenses issued by the Cyprus Securities and Exchange Commission (CySEC). So we searched CySEC and found a match result to the license number. However, the license number belongs to another firm named "Octa Markets Cyprus Ltd" instead of "Markets Octa". And the domain of Markets Octa (https://marketsocta.com/) is not one of the domains approved by CySEC. Markets Octa may be a clone firm that falsely used the license information of a regulated firm.The truth is, Markets Octa is not under valid regulation by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Markets Octa and trade with licensed brokers.
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