Elev8 Is Octa’s Offshoot New Brand

The spin-off brand of Octa has revealed Elev8 as its new contracts for differences (CFDs) broker platform. The domain, until recently, was posting celebrity and culture news.

Going Completely Offshore

As already reported, the new CFD brand will operate under the Mauritius- and Comoros-licensed entities, which previously operated the Octa brand under a brand-sharing agreement with several other global entities. These companies have completely stopped using the Octa brand and are only operating through the Elev8 brand.

Traffic from the OctaFX.com website is now being diverted to the new Elev8 domain. The ownership structure of the entity operating Octa or Elev8 remains unclear.

The Octa brand, meanwhile, still exists, as other entities, including the Cyprus-regulated one that operated it, did not take part in the spin-off. Two other entities, one in South Africa and the other in Saint Lucia, also operated under the Octa brand.

It remains unclear whether those entities will continue to operate under the Octa brand.

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According to the team behind Elev8, all Octa customers under the Mauritian and Comoros entities will be moved to the new brand. The companies themselves remain unchanged, with only the brand name changing.

“While the new brand identity, visuals, app, and website will reflect the independent direction the group of companies has taken, the customer journey will remain unchanged,” Elev8 said.
“It includes statuses and benefits, trading conditions, and platform functionality.”

Although the broker has been onboarding traders under the Comoros licence, which it obtained from the regulator on the island of Mwali, the authenticity of the jurisdiction remains highly disputed.

An Interesting Move, SEO-wise

The two offshoot entities also did not opt for a new, unregistered website. Instead, they acquired an existing celebrity and culture news website, which appears to have hosted content as recently as last December, according to archived versions of the website.

Although acquiring existing websites is a common tactic to strengthen brand value and SEO, the Elev8 case stands out as the site previously had no link to financial services. It appears that the previous Octa operators see value in the Elev8 brand for the brokerage industry.

This article was written by Arnab Shome at www.financemagnates.com.

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