OctaFX Discover Forex News Group: the latest behind-the-scenes insight into all the FX executive moves, platform advancements, regulatory changes, broker results and volumes

OctaFX controlling shareholder Pavel Prozorov arrested in Spain

Misappropriated funds were used for luxury consumption, property acquisitions, a luxury yacht, and global expansion of OctaFX.

CySEC’s actions come after earlier this summer Indian authorities seized assets of Pavel Prozorov including a luxury yacht.

Earlier this year the OctaFX website was blocked in Singapore, as the company was found in breach of the Securities and Futures Act.

The websites of two unregulated trading platforms, Octa (https://www.octafx.com ) and XM (https://www.xm.com ) will be blocked in Singapore.