Is OctaFX legit? Which entity holds Vietnamese accounts

The Cyprus regulator's order does not reach your account: Vietnamese clients sit under a Mauritius or Comoros licence, not CySEC. But the person who holds 95% of the group's capital is caught up in legal proceedings, so the sensible level is to keep no more in the account than you are prepared to lose.

Four companies under one brand, and your row in the table

The CySEC entry, verbatim from the register:

“Octa Markets Cyprus Ltd. Licence Number: 372/18. Licence Date: 10/12/2018. Company Registration Number: 359992.”

The entity's name is Octa Markets Cyprus, not OctaFX. The EU brand runs on its own domain (octaeu.com) under the CySEC licence.

The international brand that people in Vietnam can access is operated by the Mauritius and Mwali (Comoros) entities, and Comoros is a jurisdiction with light financial supervision.

Timeline: from the raids in India to the CySEC order

13/06/2025. The Enforcement Directorate (ED, India's anti-money-laundering agency) carried out simultaneous searches in Mumbai, Delhi, Chennai and Gurugram. The ED attached assets worth 1.608 billion rupees, including 19 properties in Spain.

03/09/2025. CySEC imposed two measures with immediate effect on Octa Markets Cyprus Ltd (licence 372/18): it suspended the voting rights attached to the shares held by Pavel Prozorov, which make up 95% of the share capital, and it barred him from carrying out executive duties on the Board of Directors.

The reason CySEC gave: this person's influence “is likely to be prejudicial to the sound and prudent management” of the company, after the ED attached the assets.

October 2025. The ED went on to attach cryptocurrency worth about 23.85 billion rupees (~286 million USD) under the Prevention of Money Laundering Act (PMLA). The total assets attached, seized and frozen in connection with the case exceed 26.81 billion rupees.

What the ED alleges, and where the allegation ends

According to the ED's case, OctaFX ran an “illegal online forex trading operation” that took in more than 8 billion rupees from Indian investors in less than a year, in breach of Reserve Bank of India (RBI) rules and the foreign exchange management law (FEMA).

The mechanism the ED describes:

• money flowed through an unlicensed payment intermediary
• about half of users' money was moved into intermediary accounts labelled as refunds, chargebacks and supplier payments
• funds were converted into cryptocurrency through exchanges
• the identity of the payment gateways was hidden by swapping the displayed address

Pavel Prozorov, a Russian citizen living in Spain, was identified as the person behind the operation, running the Indian business through entities in Spain, Russia, Georgia and Dubai. He has been arrested.

The legal line needs to be drawn clearly: two prosecution complaints have been filed and the court has taken cognisance of them, but no judgment has been published. Everything above is the investigating agency's allegation and the administrative measures already applied, not a finding of guilt.

Why a case in India and Cyprus is your business

The entity table at the top decides where you can complain. CySEC, the only regulator that has taken measures, has no authority over your account: it supervises the Cyprus entity that serves EU clients, while you belong to the Mauritius or Mwali entity. If something goes wrong with your account, CySEC is not a door you can knock on.

In other words, the strongest regulator in this structure has acted, but that action protects its clients, not you.

At the same time, what the ED describes, if proven in court, is a problem at the level of the group and the people running it, not one confined within the borders of a single country.

Three steps to find the company behind your own account

Step one: read the account-opening confirmation email. The company that sent the email is your entity; if you see “Uni Fin Invest” or “Octa Markets Ltd”, you belong to the offshore side, not CySEC.

Step two: check the domain you log in on. The EU version lives at octaeu.com; if you use a different domain, you do not belong to the Cyprus entity.

Step three: read the client agreement, the sections on governing law and the dispute resolution body. That is where you can actually complain.

I read the CySEC register on 04/08/2026: the domain field says more than the licence field

The register confirms the Cyprus entity is still licensed and operating: Octa Markets Cyprus Ltd, licence 372/18, granted 10/12/2018, registration number 359992, Limassol. The licence has not been revoked.

But the register has one more field: domains. CySEC has approved 14 domains for this entity, octabroker.eu, octatrade.eu, octa.broker, octaeu.com, octaeurope.com…, all of them .eu variants or domains specific to Europe. None of them is octafx.com, which is exactly where Vietnamese clients sign up.

Going strictly by the register, your account is outside the scope of licence 372/18, and the Cyprus Investor Compensation Fund (the fund that pays clients when a licensed firm goes insolvent), with its €20,000 cover, has nothing to do with you.

On the voting-rights suspension, I will state exactly how sure I am.

According to specialist financial news sites, at its meeting on 25/08/2025 CySEC suspended the voting rights of controlling shareholder Pavel Prozorov (who holds 95% of the capital) and barred him from holding a position on the board, under Article 11(3) of the Cyprus Investment Services Law, on the grounds that his influence was prejudicial to the sound and prudent management of the company.

I could not find a matching announcement on cysec.gov.cy itself. Read this detail as specialist press reporting, not as an original document I have read.

To be precise about the distinction: this is a measure aimed at an individual shareholder, not an order suspending the company's operations. The company is still licensed and still serves clients.

Three things that still hold true about OctaFX

CySEC licence 372/18 is real and can be looked up; the issue is its scope, not its authenticity. There is no judgment yet: however serious, an allegation is still an allegation, and the presumption of innocence applies to every party.

As for the broker's trading system (platform, app, conditions), as of the date I updated this article I have not recorded any disruption; clients still log in and place orders as they did before the case broke.

Is OctaFX legit: the decision is yours, but make it on the right facts

Those three facts are: you sit under a Mauritius or Comoros licence, not CySEC; the controlling shareholder has been arrested and assets have been attached on a very large scale; and the EU regulator has judged this person's influence to be “prejudicial” and acted on it.

I cannot choose your risk tolerance for you.

What I can do is say plainly how I would handle it if I were in your position: with a broker whose 95% owner is caught up in legal proceedings, I would keep no more in the account than I am prepared to lose, withdraw any profit on a regular rhythm instead of letting it pile up, and keep every deposit and withdrawal record with full dates and times.

That is how to treat any offshore broker; here specifically, the name written in your client agreement is Uni Fin Invest Ltd or Octa Markets Ltd, and that is the only place you can actually complain.

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