OctaFX

2022 - 8 - 30

Post cover
Image courtesy of "Fintech News Malaysia"

BNM Adds Forex Broker OctaFX to Its Consumer Alert List - Fintech ... (Fintech News Malaysia)

Bank Negara Malaysia has tacked on OctaFX, an online currency trading brokerage, to its Financial Consumer Alert list as of yesterday.

[website](https://www.octafxmy.net/) in the Malay language tailored to the Malaysian users despite being based in Kingstown, in the eastern Caribbean Sea. [announced](https://twitter.com/seccommy/status/1273190137787109378?lang=en) that it had added OctaFX to its investor alert list in June this year. [August 30, 2022](https://fintechnews.my/date/2022/08/) [0 comments](https://fintechnews.my/32683/various/bnm-adds-forex-broker-octafx-to-its-consumer-alert-list/#comments) [Bank Negara Malaysia (BNM)](https://fintechnews.my/tag/Bank-Negara-Malaysia) has tacked on OctaFX, an online currency trading brokerage, to its Financial Consumer Alert list as of yesterday.

Post cover
Image courtesy of "Finance Magnates"

OctaFX's Report Sheds Light on the State of the Forex Industry in ... (Finance Magnates)

OctaFX produced a report that discusses the Nigerian Forex trading market.

In Nigeria, it managed to capture the ‘Best ECN Broker’ award by World Finance and the ‘Best Forex Broker Nigeria 2022’ award by Global Banking and Finance Review. According to the survey by OctaFX, traders in Nigeria were 65% more likely to select a trading platform with tutorial materials and educational resources. In Nigeria, trading in the Forex market reached an all-time high of 300% growth in March 2020. This growth in the momentum is considerably due to increased mobile penetration in the country and growing interest from the youth population in Nigeria. One of the greatest barriers to Forex trading for new traders are scams. This report examines the state of Forex trading in Nigeria, focusing on the threats to mainstream participation in it and the ways to avoid them.

Post cover
Image courtesy of "SoyaCincau.com"

BNM: OctaFX, endorsed by Aliff Syukri and Wak Doyok, is an illegal ... (SoyaCincau.com)

It's best you should know that Bank Negara Malaysia has officially added OctaFX, a trading platform endorsed by Malaysian celebrities, to its Financial ...

[forex](https://en.wikipedia.org/wiki/Foreign_exchange_market) broker that offers “competitive spreads, flexible leverage, and copy trading”. It’s also considered “ [high-risk](https://safeforexbrokers.com/my/reviews/octafx-review/)” for Malaysian traders. According to BNM, the list is updated based on information received by BNM from members of the public, “after conducting necessary assessments on the reported entities and schemes”. What also doesn’t sit right with me is that OctaFX spams a lot of people I know with ads—featuring arguably controversial local male celebrities, Wak Doyok and Aliff Syukri. OctaFX is added to the list amongst others including— You might have seen OctaFX in ad-form, using local Malaysian celebrities like Aliff Syukri and Wak Doyok as spokespeople to endorse the trading platform.

Post cover
Image courtesy of "WORLD OF BUZZ"

Bank Negara Has Listed Broker & Forex Trading App OctaFX In Its ... (WORLD OF BUZZ)

As inflation hits the globe bringing more financial stress to people, many are resorting to financial schemes provided by third parties.

[Videos4 days ago](https://worldofbuzz.com/watch-pdrm-uses-drones-that-cost-rm59235-to-monitor-road-conditions/) [Videos8 mins ago](https://worldofbuzz.com/syed-saddiq-teaches-malaysian-kids-about-merdeka/) [News4 days ago](https://worldofbuzz.com/msia-ranked-second-among-top-5-nations-in-asia-pacific-for-most-number-of-malicious-emails-found/) [News1 day ago](https://worldofbuzz.com/ebit-lew-to-be-tried-for-11-charges-of-sexual-harassment-at-the-end-of-september/) [News1 day ago](https://worldofbuzz.com/mps-why-is-pass-holding-demonstrations-against-concerts-rather-than-protesting-the-price-of-goods/) [News6 hours ago](https://worldofbuzz.com/kkm-urges-msians-to-not-neglect-the-mental-health-of-children-adolescents-as-up-to-20-have-issues/) [News4 hours ago](https://worldofbuzz.com/just-in-ismail-sabri-announces-pay-hike-allowance-other-benefits-for-civil-servants/) The FCA is a guide to alert the public of organisations or schemes that have been mistakenly identified those that are governed or approved by Bank Negara Malaysia (BNM). [News3 hours ago](https://worldofbuzz.com/malaysia-to-consider-making-face-masks-optional-rather-than-mandated/) [News60 mins ago](https://worldofbuzz.com/bank-negara-has-listed-broker-forex-trading-app-octafx-in-its-financial-consumer-alert-list/) [News55 mins ago](https://worldofbuzz.com/zahid-hamidi-under-police-investigation-for-allegedly-slandering-insulting-ydpa-agm-and-macc/) [News](https://worldofbuzz.com/latest-news/)

Explore the last week