Is it safe to trade with Markets Octa?

https://marketsocta.com/    

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.