OctexMarkets is a platform offering CFD trading in forex, stocks, indices, futures, precious metals, energies, and cryptocurrencies. However, upon inquiry, the platform lacks a legitimate corporate entity.
Website Domain
The official website domain is octexmarkets.com. According to the Whois lookup, the domain was registered on May 11, 2024.
Company Background
The homepage states the company is registered in the UK with registration number 12233090. A UK company registration certificate is also shown, with the company name OCTEX LIMITED, registered under the number 13170320. Furthermore, the website claims 23 years of experience in financial trading.
A search with the UK's Companies House reveals that the company with registration number 12233090 is actually GOLDFIELD LIMITED, while 13170320 is indeed OCTEX LIMITED. However, neither company is authorized by the Financial Conduct Authority (FCA) in the UK.
Additionally, the "ABOUT US" page on the OctexMarkets website indicates the company was founded in Australia in 2013. However, this history is copied from the forex broker TMGM.
Trading Instruments
The website shows that the platform covers trading in forex, stocks, indices, futures, precious metals, energies, and cryptocurrencies.
Trading Software
The platform’s website does not specify the trading software offered. Users can only register and log in to trade through the in-house web-based trading system.
Account Types
The platform offers four account types: Premium PACKAGE, FLEXIBLE PACKAGE, Bronze PACKAGE, and PROMO PACKAGE, each with different deposit requirements, leverage, spreads, etc.
Premium PACKAGE
- Minimum Deposit: $300
- Maximum Deposit: $2,499
- Trading Types: Short-term and long-term
- Base Currency: USD
- Spread: From 1.9 pips
- Leverage: 1:10
- Includes comprehensive IT support, referral bonus, hedging trades, and real-time chart support
FLEXIBLE PACKAGE
- Minimum Deposit: $2,500
- Maximum Deposit: $25,000
- Trading Types: Short-term and long-term
- Base Currency: USD
- Spread: From 1.7 pips
- Leverage: 1:5
- Includes comprehensive IT support, referral bonus, hedging trades, and real-time chart support
Bronze PACKAGE
- Minimum Deposit: $25,000
- Maximum Deposit: No limit
- Trading Types: Short-term and long-term
- Base Currency: USD
- Spread: From 1.4 pips
- Leverage: 1:10
- Includes comprehensive IT support, referral bonus, hedging trades, and real-time chart support
PROMO PACKAGE
- Minimum Deposit: $1,500
- Maximum Deposit: $50,000
- Trading Types: Long-term
- Base Currency: USD
- Spread: From 1.1 pips
- Leverage: 1:15
- Includes comprehensive IT support, referral bonus, hedging trades, and real-time chart support
Deposit and Withdrawal Methods
The platform’s website does not clearly list supported deposit and withdrawal methods, nor does it disclose processing times or fee information.
Regulatory Information
The platform’s website claims it is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (FSC).
Australian Regulatory Information
The platform shows its Australian regulatory entity as OctexMarkets Australia Pty Ltd with the license number 436416. Upon verification, this license number actually belongs to the brokerage TMGM under Trademax Australia Limited.
Vanuatu Regulatory Information
The platform shows its Vanuatu regulatory entity as Trademax Global Limited. However, this entity is also part of TMGM and not OctexMarkets itself.
Company Address and Employee Information
The address listed on the website is 76-78 Wolverhampton Road, Cannock, England. However, a search with the UK Companies House does not show any active company registered at this address.
Furthermore, the platform discloses no employee information and no details about its team members are available online.
Agent Policy and Educational Resources
The platform does not offer any partnership agent policy, nor does it provide any trading educational resources.
Website Traffic and Design Template
According to the analytics tool Semrush, OctexMarkets' website has a monthly average visit of less than 100 times, indicating almost no use of the platform.
Additionally, the platform uses the same web design template as several suspected scam websites, such as AstralFXTrade, EliteForexTrade, and PhemaxCryptotrade. The design style and structure are highly consistent, suggesting they may belong to the same batch of templated sites.
User Reviews and Brand Exposure
Currently, there are no user reviews or news reports about OctexMarkets online.
Contact Information and Social Media
The website only provides email addresses ([email protected] and [email protected]) as means of contact.
Additionally, the platform has not established any official accounts on mainstream social media platforms (LinkedIn, Facebook, Instagram, Twitter, YouTube, etc.), making it impossible for users to contact them through social media.
Risk Report
Doubts About Corporate Entity Authenticity
The platform does not have genuine corporate entity information, and the UK registration numbers provided do not match actual registered companies, indicating misleading information.
False Regulatory Information
The platform claims regulation by ASIC and FSC, yet the regulatory numbers furnished belong to another brokerage, TMGM, not OctexMarkets itself, indicating misleading regulatory information.
Non-transparent Trading Software
The platform does not provide detailed information on trading software; users can only use its in-house web-based system, raising concerns about the system's security and stability.
Unclear Deposit and Withdrawal Methods
The platform does not disclose specific deposit and withdrawal methods, nor does it provide information on processing times and fees, hindering users' ability to assess the safety of their funds.
Extremely Low Website Traffic
Analytics data shows that the platform's monthly traffic is less than 100 visits, indicating very low user activity and almost zero market recognition.
No Social Media Exposure
The platform has not established official accounts on any mainstream social media platforms, making it difficult for users to obtain information or contact the platform's customer service through legitimate channels.
Website Design Matches Several Suspected Scam Platforms
The platform uses a web template similar to numerous known high-risk sites, indicating it may be part of a batch production of template websites, posing a high risk.
Conclusion
Overall, OctexMarkets presents significant uncertainties in terms of company entity, regulatory information, trading software, deposit and withdrawal methods, website traffic, and brand exposure. Investors should carefully assess related risks when considering using this platform.
