SEC Advisory Against OctaFX/Octa Trading

September 28, 2023 SEC ADVISORY SEC ADVISORY AGAINST OCTAFX/OCTA TRADING This is to inform the public that OCTAFX/OCTA TRADING is NOT AUTHORIZED TO SELL or OFFER SECURITIES to the public in the Philippines. aDSIHc Based on the reports and information gathered by the Commission, OCTAFX/OCTA TRADING has been actively employing promotional campaigns on various social media platforms to attract and entice Filipinos to engage in investment and trading activities using its platform. OCTAFX/OCTA TRADING may accessed or downloaded from three different platforms: its website , the Google Playstore , and the Apple App Store . In its website, OCTAFX/OCTA TRADING claims to offer the trading of over 300 financial instruments from a wide range of asset classes to wit: shares (foreign), indices (index funds), commodity derivatives, and foreign currency pairs. It also allows leverage trading for a maximum leverage ratio of 1:500. While it appears that the operators of the platform are registered broker/dealers overseas and the securities and investment offerings registered in various countries, in the Philippines, before securities and investment products can be sold or offered to the public, the Securities Regulation Code requires: 1. That the securities being offered are registered with the Philippine Securities and Exchange Commission (SEC). This involves filing an application for registration and providing detailed information about the securities, including the issuance price, the use of proceeds, and the nature of the securities; 2. That the securities must be issued by a corporation or a licensed dealer, both of which should be registered in the Philippines; and 3. That the issuer possesses a secondary license to sell or offer securities to the public. Based on the Commission's database, the operator of the platform OCTAFX/OCTA TRADING is NOT REGISTERED as a corporation in the Philippines and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to sell or offer any form of securities as defined under Section 3.1 of the Securities Regulation Code (SRC). In view thereof, the public is hereby advised to exercise caution before investing in these kinds of unregistered online investment platforms and their representatives. In dealing with these unregistered platforms, the Commission reiterates its Advisory entitled: " Advisory against Dealing with Non-Registered Foreign Entities, Organizations, and Corporations. " ATICcS In addition, those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, influencers, endorsers and enablers of the OCTAFX/OCTA TRADING in selling or convincing people to invest in this platform within the Philippines even through online means may be held criminally liable under Section 28 of the SRC and be penalized with a maximum fine of Five Million Pesos (P5,000,000.00) or imprisonment of Twenty-One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014) . For the guidance of the public. Makati City, September 28, 2023.