Octa & XM Banned in Singapore — Forex Traders Beware

Описание: Here's a more detailed breakdown:
Unlicensed Activity:
Octa and XM were offering financial trading services in Singapore without the required licenses from MAS.
SFA Violation:
This unlicensed activity violates the Securities and Futures Act (SFA), specifically Section 82, which requires a license for dealing in capital markets products.
MAS and SPF Action:
The Monetary Authority of Singapore (MAS) and the Singapore Police Force (SPF) collaborated to block access to these platforms for Singaporean users.
Blocking Date:
The blocking of Octa and XM's websites was effective from June 20, 2025.
Public Advisory:
MAS and SPF advised the public to only use regulated platforms listed in MAS's Financial Institutions Directory to avoid potential risks associated with unregulated platforms.
Reasons for Blocking:
The authorities cited potential risks of fraud, financial loss, and difficulty in pursuing legal recourse due to the platforms being based overseas.
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I believe a scam is an overhyped program where big promises are being made but no returns ever come out, or when it comes out, its not as promised. I believe a scam also have given no refunds. Fake gurus and snake oil salesmen are usually the people selling these programs and when everything goes bust, they go missing.