OctaFX Hit by Another Withdrawal Crisis at Year-End as Longstanding Issues Resurface

Recently, across multiple investor communities and complaint platforms, criticism of forex broker OctaFX (also known as Octa) has once again intensified. According to numerous users, since late November the platform has been plagued by widespread withdrawal difficulties, unexplained account freezes, and unresponsive customer support, triggering anxiety and panic among investors.

Complaint Overview: Funds Trapped, Customer Support "Disappears," Accounts Malfunction

One user sought help in distress, stating: "I have been trading with OctaFX for a long time, but after a system maintenance they changed my account, which means I can no longer use the MT5 platform. They also refuse to allow me to withdraw my funds, even though withdrawals had never been a problem before."

The user said all required verifications had been completed, yet every customer support channel failed—live chat was unavailable, emails received only automated replies, and no human support could be reached. The platform unilaterally altered account access without prior notice and blocked withdrawals, leaving the user in a helpless position.

Withdrawal issues have long been a chronic problem for OctaFX. Since the beginning of this year, BrokersView has published multiple reports exposing the platform's inability to process withdrawals. Since December, more users have come forward with similar experiences: their withdrawal requests were marked as "approved" in the back-end system, yet no funds were ever received.

One user said he submitted multiple withdrawal requests and emailed the platform to inquire about progress, only to receive repeated responses saying the request was "being processed." He was also advised to contact customer support, which again proved unreachable. What concerned him most was that his withdrawal request showed the funds had already been deducted, but he never received any confirmation email and the money never arrived.

As early as late November, some users disclosed even more serious situations. One investor said: "I deposited 45,000 rupees, and the very next day my account was frozen. They told me I would be refunded and asked me to provide my bank account details and statements. But after that, I never heard from them again."

The user added that he had tried contacting the platform by email multiple times over the past two months without receiving any response and is now considering reporting the case to law enforcement authorities.

Recurring Historical Issues: Repeated Warnings from BrokersView and Scrutiny in the Indian Market

Since the beginning of the year, BrokersView has continuously tracked and exposed operational issues at OctaFX, including:

Withdrawal failures becoming the "norm": Previous reports have shown that OctaFX frequently experiences delayed or denied withdrawals in certain markets—particularly India and Southeast Asia—with some cases dragging on for months.

Regulatory scrutiny in India: Indian authorities have previously launched investigations into OctaFX. In early 2025, India's Enforcement Directorate (ED) accused the platform of operating with characteristics of a Ponzi scheme. To date, the ED has seized assets totaling 26.81 billion rupees, including 19 properties and a yacht located in Spain. The alleged mastermind behind the scheme, Pavel Prozorov, has been arrested in Spain.

A seemingly "systemic" pattern: From historical cases to the recent wave of complaints, recurring features include smooth deposits but difficult withdrawals, customer support falling silent at critical moments, and repeated delays justified by "system maintenance" or "compliance reviews," suggesting a clear pattern.

International regulators' vigilance and crackdowns on OctaFX began long ago. Regulatory authorities in Malaysia, the Philippines, Singapore, and India have all placed the platform on warning lists. Singapore's Monetary Authority (MAS) went further by blocking the platform's website outright, underscoring the seriousness of the issues.

In September this year, Cyprus regulator CySEC also took action by suspending Pavel Prozorov's voting rights in OctaFX's Cyprus-licensed entity and banning him from the board and from participating in any management activities, stating that his influence was "detrimental to the prudent and sound management of the company."

BrokersView Reminds You

Year-end is typically a period of frequent fund settlements, yet OctaFX has seen a concentrated outbreak of withdrawal difficulties and customer support failures at this critical time. Coupled with its long history of similar issues, this inevitably raises concerns over whether its fund flows and operational stability have reached a critical warning point.

Investor fund safety is no trivial matter. We strongly advise traders who are currently using, or considering using, OctaFX to remain highly vigilant, promptly verify their account status, actively pursue any missing funds, and be prepared to file complaints with relevant regulatory authorities.

Silence and perfunctory responses from the platform will not resolve these issues. We call on OctaFX to directly address user concerns and to provide a clear and transparent explanation of the reasons behind the current withdrawal delays, along with concrete solutions. Failing to fulfill the basic responsibilities of a broker will ultimately lead to rejection by both the market and investors.