The phenomenon of fake websites and fake social media accounts is not new and has been a severe issue since the dawn of the internet. It gives enormous blows to the legitimate business being imitated and calls for immediate action. Let’s take a look at how to spot fraud and which steps to take to best avoid it.    

It came to our attention that there are scam schemes online imitating the Forex broker OctaFX in appearance and even trying to extract money from unsuspecting customers through deception. This activity harms many users.

If anybody happens to come across these impostors online, exercise extreme caution, since you could be convinced to put your money into fraudulent ploys, never seeing your funds ever again.

OctaFX clients should also pay attention to the payment process. The broker only processes payments through the client’s profile on the official website or the OctaFX Trading App and the OctaFX Copytrading App. Anything other than that is very likely fraud and should be deemed suspicious by anyone.

Mimicking reputable and trustworthy businesses by way of misinformation to extract profits and downright theft of unsuspecting customers’ money can be best avoided by keeping to a straightforward strategy.

You significantly lower the likelihood of being scammed by doing research and double-checking on your favourite broker’s social media, as well as the official website’s exact domain address. This is a potent way traders can bypass being defrauded by OctaFX impersonators who utilise fake social media accounts.

Engaging with the genuine social media community by sharing these fraudster accounts with them and the OctaFX administrators is another powerful way to manage the problem and stay out of harm.

At the same time, OctaFX does its best to combat these schemes through all legal avenues available to them.

Updates on these fraudulent cases will follow soon.

OctaFX is a Forex broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to millions of users worldwide. Since its founding, the company has been fighting fraud and scam ploys conducted by impostors online. It’s an ongoing battle, but the Forex broker has become proficient in spotting these schemes early and swiftly taking legal action. OctaFX has won more than 30 awards since its foundation, including the Best ECN Broker 2020 award from World Finance.       

Partner Author

Get the best African tech newsletters in your inbox