Octa fx review

The tutorials section covers every featured trading platform and it goes into details on most of the available functionalities.

Huge forex bonuses

In terms of the amount of leverage available to traders, octafx offers leverage ratios of up to 500:1, and this ratio applies even to micro lot positions. Last, but certainly not least, those traders who wish to use strategies like scalping, hedging, news trading and expert advisers will not be disappointed in octafx, since all of those are permitted.

Octafx review

Octafx is a quite recently formed straight through processing (STP) ECN forex broker. Octafx offers both the metatrader and ctrader platforms, all major currency pairs and commodities, leverage 1:500, and a minimum deposit of $5. Octafx has been operating since 2011 out of its main center in jakarta, indonesia. The company is also registered in saint vincent and the grenadines with license number 19776 IBC 2011 issued by the caribbean’s financial services authority or FSA. Octafx is regulated by cysec with the license number 372/18.

Octafx focuses primarily on the asian retail market and has won several notable industry awards, primarily for its service to that sector. In addition to asia, the company has customers in more than 100 countries worldwide, but it does not presently accept U.S. Based clients.

Its official website is located at www.Octafx.Com and a screenshot of its welcome page appears below:

Octafx features

Octafx offers a professional quality execution service in all of the major currency pairs, plus precious metals like gold and silver. Furthermore, octafx’s decision to act as a STP ECN broker has allowed it to offer customers very tight dealing spreads, quick execution times, no slippage on orders and no re-quotes. Those key features — plus the numerous interesting promotions and contests the broker offers — makes theirs a notably attractive package for most retail traders, especially those that wish to trade more actively.

Furthermore, the broker’s very modern dealing network offers state of the art connectivity to the markets. This helps give its clients greater assurance about stability, execution, reliability and excellent liquidity from international banks. In addition, the broker conscientiously segregates its operating capital from client deposits, thereby complying with regulatory requirements and giving customers great financial security. With respect to data security, the broker uses 128-bit SSL protection when encrypting trading and personal information.

The company also offers demo accounts, as well as three different live account types that include micro and ECN for metatrader 4 and ECN for ctrader. All account types can trade silver and gold, but the number of currency pairs allowed for each live account type differs, with 12 currency pairs allowed for the micro MT4 accounts, 28 pairs for the ECN MT4 accounts and 48 pairs for the ECN ctrader accounts. In addition, swap free accounts are allowed for both of the metatrader 4 account types, while ctrader accounts are swap free unless a trader leaves their position open over a weekend, in which case they are charged a rollover fee.

The broker also supports a demo account, which beginners can use to assess the platforms and the overall trading at the site.

Platforms & tools

Octafx will greatly please many forex traders since it offers support for the very popular metatrader4 and metatrader 5 online trading platform and its mobile apps. In addition to trade execution and order placement, these platforms offer extensive charting, technical analysis and portfolio management features. They also allow traders to use or write expert advisers that can automate dealing activities.

The screenshot shown below illustrates the basic functions of the octafx installation of metatrader 4, which includes market monitoring, charts and technical analysis, on screen trade execution, trade history and account management features.

The broker also supports the increasingly popular series of desktop and mobile app trading platforms offered by ctrader, which has interesting features that metatrader does not offer.

Asset classes

Octafx supports an impressive range of tradable asset taxonomies. CFD trading is one, followed by cryptocurrencies, commodities, stocks and currency pairs.

As far as cfds go, scores of tradable assets are supported, on MT4 as well as MT5. The maximum available leverage on this asset class is 1:50.

The broker currently supports 3 cryptocurrencies (paired with the USD): BTC, ETH and LTC. Be aware that octafx does not sell any cryptocurrencies to its traders. Only CFD-based trading is possible on this asset class. The maximum leverage available on crypto cfds is 1:2.

Commodity-wise, octafx offers gold and silver as well as crude oil, among a number of other tradable assets. The spreads are quite decent, although in some cases they may shoot up above 3 pips.

A total of 4 indices are available on MT4 and 10 on MT5, in addition to an impressive number of individual stocks. The leverage is 1:50 on this category.

Currency pair trading carries the best trading conditions. The maximum available leverage here is 1:500 in most cases. Some 28 currency pairs are available on all account types. Spreads start from 0.4 pips on major pairs but they can go as low as 0 pips on the ECN account.

Commission & fees

The floating spreads on the micro account start from 0.4 pips, while the fixed ones start at 2 pips. On the pro account, spreads start from 0.2 pips and on the ECN one, from 0 pips.

Unlike the other two account types, the ECN one does charge a commission. It does not feature a markup however. The ECN account comes with a weekend fee.

Research & education

Education-wise, the official site of the broker offers a decent selection of video tutorials, as well as access to some basics on FX trading and strategies.

The tutorials section covers every featured trading platform and it goes into details on most of the available functionalities.

Customer service

Octafx offers 24/5 customer service that includes a live chat feature with a selection of three departments, in addition to support via e-mail and phone. The company also uses social networking sites like facebook, twitter, youtube and instagram to communicate with its clients.

With respect to educational materials, octafx offers various manuals to assist clients in using the two main trading platforms supported by the broker, which are metatrader 4, metatrader 5 and ctrader. These manuals cover such things as: basic trading platform functionality; ways to navigate around the platform’s interface; and tips on making successful trades. The company also offers a glossary and various tutorials for new traders on their website.

Mobile trading

The octafx trading app provides access to most of the tradable assets and it looks great on smaller screens.

It lets traders deposit and withdraw funds, enable swap-free options, modify leverage and edit and restore passwords. In word, it is a standalone trading solution, which lets traders handle every aspect of their octafx trading account on the go.

Conclusion

Although a relatively new broker on the scene, octafx has received several industry awards and overall good reviews from its clients, making it seem like a decent choice for a forex broker. This favorable perspective is further strengthened by their decision to offer an ECN/STP broker service, making their dealing spreads and order execution top notch.

Another positive factor for octafx is its support for the popular metatrader 4 trading platform and its newer competitor ctrader that offers some exciting and innovative features.

On the downside, this broker is very focused on currencies and precious metals, so those traders who also wish to trade stocks, other commodities and indices will probably have to find another outlet for trading those asset classes.

Octafx is an online forex brokerage, offering three trading platforms and access to scores of tradable assets. FX daily info named the brokerage “the best ECN/STP broker of 2019.” brokers using an electronic communication network and straight-through processing do indeed have a fair business model. They do not act as market makers or parties involved in trading against their clients.
In light of these facts, yes, octafx is indeed a legitimate online brokerage.
On the other hand, octafx used to offer binary options, a trading instrument now out of favor, that was not exactly the best herald of legitimacy. Again, the broker no longer features such a trading product.
In 2015/16, octafx was one of the sponsors of the UK football club southampton FC.

Letting the users decide whether a broker is a good one or not is the only reasonable way to answer that question.
Octafx is in an interesting situation on the user feedback front. They have good reviews and bad. Their score at most of the major review portals reflects this fact. This is what one would expect from a broker as old and reputable as octafx.
Most of their user reviews seem genuine, unlike those of some of their peers.

• some like the trading conditions. The spreads are low, execution is quick and ECN trading is inherently fair.
• the availability of a swap-free account option is a major plus.
• the beginner-friendly nature of the broker.
• the quality of octafx support.
There are about as many complaints concerning octafx’s services as there are positive reviews.
• some allege that the broker charges a hefty fee on withdrawals, despite advertising otherwise.
• spread manipulation.
• problems with the trading platforms.
Octafx does have the potential to be a good broker. Not all users will agree with that assessment, however.

The minimum deposit with an octafx micro account is $5. If you intend to trade for profits, however, you should deposit more. The minimum deposit for a pro account is $500.

Yes. Octafx is regulated in several jurisdictions. In estonia, where its european base of operations is located, it is regulated by the local financial authorities. It used to possess a cysec license in the past as well.
In st. Vincent and the grenadines, it is licensed by the SVGFSA. Its license number is 19776.

Octafx currently maintains offices in estonia and st vincent and the grenadines. The exact addresses of these offices are:
• harju maakond, tallinn, lasnamae linnaosa, sepise tn 9// valukoja tn 8-110, estonia.
• suite 305, griffith corporate centre, beachmont, kingstown.

James west

Having started his online career back in 2005, over the years, james has written for scores of websites, covering online poker, esports, forex trading, binary options, and digital ledger technology. Continued

Comments on octafx

Im so annoid. Like some how you know how to trick people. I have been waiting for my withdrawals for 5 days now. This is not what terms say. This is violation.

Worst part I do the follow ups. You just sit there and claim you keep good work ethics . I want my money octa fx

Hi,
have you contacted their support and asked?

Best regards,
fxexplained.

$3000usd fee for withdrawal!

After making 12.5 lots and requesting a withdrawal request, they are charging me 3000USD of commission for deposit and withdrawal where their page is full of ads that are free.

Thank you for your comment.
Have you spoken to their support regarding this?

We asked our team to look into your complaint. If we’re not mistaken, the commission was reimbursed back to you.

If there’s anything we can do for you please, do not hesitate to contact us.

Honest octafx review and test for traders

review:	platforms:	spreads from:	leverage:
(5 / 5)	metatrader 4/5, ctrader	spreads from 0.2 pips	up to 1:500

The octafx broker for a long time in european countries has been providing services to traders in more than 100 countries. You might be surprised, the company is currently serving more than 1,500,000 traders. Here, according to the ECN (electronic communication network) model, the platforms can be selected.

In this review, we will show you all the details you need to know about octafx. Is it really worth investing your money there? – find out in our octafx review. Learn about the trading conditions, platforms, and special features for customers. With more than 8 years of experience in the trading industry, we checked octafx in detail.

What is octafx? – the broker presented:

You may know that there is no guarantee of making money in online FX trading. So we think it is very important to move towards the trading platform with your prudence, practical humanity, and knowledge. To be successful in online trading you need to go through many steps like practice, time, patience, and much more. Octafx gives you some of these opportunities so that you can deal with or defeat the market. The broker transmits clear-sighted market knowledge while maintaining the specific skills required to make money online which will give you a much higher balance of profits from losses.

Octafx is one of the best international forex and CFD broker. The main client base of octafx is in europe. This company has been providing opportunities for traders to invest in the market for a long time since 2011. A big advantage of this platform is that traders can easily determine the rate of low wages. Also, octafx helps to guess the speculation about their increasing rate.

More than 2,840,000 of the essential bonus fund was valued in that field. Here octafx is commission-free euro or USD only 0.4 pips! It helps maintain a highly competitive cost structure in emerging markets. The broker supports copy trading to support social businesses. Autochartist pro also supports traders in a wide range of ailments through manual support. Traders come to the octafx offer for the experience of ctrader trading and the metatrader platform.

Facts about the octafx company:

Founded in 2011

Based in cyprus and st. Vincent and the grenadines

Supports copy trading

Professional trading platforms

Low trading costs

Education for new traders

Supports international clients

(risk warning: your capital is at risk)

Regulations and safety octafx

All online trading activities are regulated by government financial authorities, so trades play a very important role. The license used in trading helps to build a confidential relationship with the customer and build a strong foundation. Every broker has to meet certain rules and criteria to get this government license. If a broker violates the rules or attempts to commit fraud, the license will be permanently revoked.

The octafx broker has several licenses, which bring some great benefits for traders. Octafx holding plc is regulated by cysec (EU) which can give you maximum benefits. The broker has also a dealer license in mauritius (FSC). In this case, traders can make all their own decisions. There is a huge potential for independent limited business without any leverage.

Octafx is regulated by:

FSC (mauritius)

Cysec (EU)

Trading conditions for octafx traders – what are the offers?

Forex and CFD trading is very popular nowadays. Private traders like these assets a lot because they can access global financial markets using little capital. Also, you will get the opportunity to increase more profit from octafx. Traders get the opportunity to use maximum leverage 1:500 here. With your small capital, you can easily transfer higher numbers to the market.

Octafx trading conditions

The minimum deposit you can invest is 100$ or 100€ which is guaranteed at a much lower price than other brokers in the market. It is the best of octafx to make a conventional offer that you can apply and accept. You can enter the financial market with very little capital (0.01) lot depending on the position. The octafx broker offers different offers to the clients according to the package, based on the account type.

More than 100 assets are available on the platforms. That includes:

Forex (currencies)

Indices

Metals

Cryptocurrencies

Stocks

Investing here means to trade currency, cryptocurrency, any product, stock, and much more. Shares of octafx are excluded from the market subject to the terms of the german stock exchange and the american stock exchange. Many other parties use these shares on favorable terms. Octafx assets are always dependent on the current market.

Although variable spreads are offered in these trade markets, a higher spread may be transmitted depending on the number of customers. You can compare it to the initial or general trading of the stock market. But here the average of the spreads is calculated as 0.4 pip in forex. If you want to get it out of the stock index it will be less than 1 point. Even better if you expect a high rank spread then the black account can help you in this regard. You can use the RAW spread account as an alternative. You will always find many offers here.

See the table for spread comparison at octafx:

In some cases, special offers may be offered in this trade. Such as:

The first step is a free demo account.

The minimum deposit is only $ 100 or € 100.

Leverage will be between 1:30 and 1: 500.

Spreads from 0.4 points

Different account types available

Platforms: metatrader 4/5, ctrader

Opportunity to execute orders quickly

Short trading possible

No hidden fees

Islamic accounts possible

Trading without swap fees

50% deposit bonus is possible

(risk warning: your capital is at risk)

Test of the octafx trading platforms

Every professional forex broker must have a reliable trusted trading platform for trading. Traders use several tools to gather information on what kind of analysis traders are using in this trade market. See below to know about the various available platforms of octafx.

These are the available platforms of octafx:

Metatrader 4

Metatrader 5

Ctrader

Metatrader 4

Metatrader 4 is a platform that any user can use with ease. Because this trade is a process that is extremely flexible, fast, secure, responsive. Any customer can also use this platform for forex and CFD trading. It analyzes transactions in financial markets and provides secure and fast access. Users of octafx can ensure traders’ advanced access to trading operations in a reliable environment. Octafx trading is an international broker so it supports many languages. It is also very popular as it can automatically supply trades to the market. Also, MT4 has more advanced charging capabilities, it is fully customizable.

Metatrader 5

Metatrader 5 is one of the most popular trades on one of the most popular platforms in the world. MT 5 is the world’s number one multi-asset platform provider of futures, forex, CFD, exchange-traded instrument trading. Investors choose MT 5 as the best investment platform. This market has a large number of customers because this platform is very easy to use. MT5 includes level 2 pricing, robotic system trading, higher chatting, VPS support, education market. There is also the ability to provide free market data and news. The MT5 can also be said to be an automated trading option.

You can use the metatrader supreme edition platform to improve your business because the most advanced tools are applied here. We believe it improves the customer’s business experience. You can try using live and free demo accounts to enjoy this platform. Octafx MT5 and MT4 have powerful global widgets for feedback. This widget improves forex trading performance. Metatrader 4 and metatrader 5 play a major role in rapid order reversal and hedging promotion.

Ctrader

The ctrader is also offered by octafx. It has similar features to the metatrader platform. Here you can get a deeper look into the order flow and liquidity of the markets (level 2 market depth). Robot trading is supported and several chart types. With the ctrader, you will have access to the ECN market (electronic communication network). With ECN trading the conditions are better than with the metatrader accounts. From our reviews, you should use the ctrader for trading. It also supports customized indicators and tools.

Web trader/charting and analysis

Webtrader is a popular and convenient trading platform like MT4 and MT5. This trade allows traders to trade through browsers from anywhere. You can trade securely at any time in web trader. No download is required to get started. Works very fast without any OS choice. User-friendly (easy to use) can be done on the octafx platform. Web trade is much more advanced. Web trader works much faster.

Mobile trading:

MT4/5 and ctrader is one of the top software on the android platform on mobile. It has been designed by octafx markets for traders in a way that is easily accessible on mobile. Octafx clients allow them to access trading on any android device. Being mobile-friendly, it offers many benefits to clients or merchants. Octafx customers may not be able to place orders using mobile devices, where they will be able to perform basic technical analysis on the full chart. Customers will be able to do candlestick, line chart, bar chart, tick chart using excel on mobile.

Octafx allows mobile trading (app)

Octafx helps customers to know the basics by using the mobile trading app in the market. The mobile trading app encourages the customer to increase investment. See below the benefits you will get in the mobile app for metatrader 4/5.

Opportunity to watch live FX quotes, a chart with the display, platform customized, indicator add, broker’s clients can get a massage, market news, read and see broker news, all types of orders use. Time frames change, access trading history, and mobile access for online trading carry friendly and useful features.

The current market situation is quickly available in the metatrader 4/5 mobile application. The application is of course used for FX trading and it can be said to own a few powerful charting of all mobile applications.

(risk warning: your capital is at risk)

How to trade with octafx

Which market you trade your investment in depends on your choice.

Before any broker enters the market, you should know whether the market is moving upwards or downwards. It is up to you to decide whether to buy or sell stock spreads in this market. If you see a drop in the market price then you need to click on ‘sell’. On the other hand, if you see that the price has increased, then click on the ‘buy’ button.

Octafx order mask metatrader 5

You need to add stop-locks here urgently. Because when you move too far away from your location, you can secure your location through a certain process. Brokers can track trade market prices as well as place their trades in the trade market. You can also focus on real-time gains or losses.

How to open an octafx account

You can open a demo account on many topics at octafx. You can open a demo account accordingly by looking at the offers. It is very easy to open a demo account with the octafx and you will get this account quickly. To open an account you need to use your name and an email as well as a strong password. If you do not provide your full name and email address, the account will not be created.

For trading with real money, you will need to verify your account. That means octafx will require some documents to verify your identity. Just answer the questions in the account dashboard and upload the documents. The broker support can help you with that. The process can be over in a few minutes.

Opening account with octafx

Octafx offers different types of account:

The accounts that you can create with octafx are metatrader 4 micro, metatrader 5 pro, and ctrader ECN. We will talk about an account here for your convenience.

Metatrader 4 micro account

You can start with the micro account by depositing only $ 100. The account has floating spreads or fixed spreads. It is the best account for beginners because it offers micro-lots. That means you can open very small positions in the market.

Minimum deposit $ 100

Metatrader 4 platform

Floating spreads from 0.4 pips

Fixed spreads from 2 pips

Leverage up to 1:500

No commission

Micro-lots

Best for beginners with small amounts of money

Metatrader 5 pro account

The pro account is for traders who want to trade with more money and higher volume. The conditions are better than the micro account. The minimum deposit is $ 500 and the spreads are starting from 0.2 pips

Minimum deposit $ 500

Metatrader 5 platform

Floating spread from 0.2 pips

Leverage up to 1:200

No commissions

No swaps

3 days fees

Ctrader ECN account

ECN trading means investing in the market with raw spreads and deep liquidity. The ctrader is a good platform for professional traders who want to trade high volume with order flow. The minimum deposit is only $ 100. You will get real ECN access. The spreads are starting from 0.4 pips and you have to pay a commission per trade.

Minimum deposit $ 100

Ctrader platform

Spreads from 0.4 pips

Commissions from $ 3 / 1 lot trade

No swaps

Weekend fee

Demo account

You can use a free demo account to evaluate the platform first before depositing. Your virtual credit will be included, in the demo account with 10,000$ automatic funding. It will be deleted from the account after 30 days. Octafx clients submit this demo account so that the customer can be aware of all the tools.

Is there a negative balance protection octafx

Trade market clients think about broker protection before investing. The broker provides customers with maximum protection from investing. Octafx eliminates fears by traders by applying the best tools to ensure additional funding. In some cases, account balances can be negative. Because there is no negative balance system. Octafx can lose its unbalance in extreme market conditions. There is no reason to worry, the broker automatically shuts off your positions as soon as it is detected.

Octafx negative balance protection

Deposits and withdrawals with octafx:

As discussed above, the minimum deposit for opening a real trading account is $/€ 100. You can use for the deposit different payment methods. The available payment methods are:

Bank wire

Credit cards

Cryptocurrencies

E-wallets (skrill, neteller, perfectmoney, and more)

On most payment methods there are no fees for depositing and withdrawing money. Octafx will not charge additional fees but the payment provider can do it. The fee is depending on the payment methods but most payment methods are for free. The deposits can be instant by electronic methods. With a bank wire, you have to wait 3-5 days to credit the money into your account. Withdrawals with octafx are very fast too. It is depending on the time of the day, sometime the withdrawal is made in a few hours. The maximum time amount is 3 – 5 days for a withdrawal.

(risk warning: your capital is at risk)

Octafx accepted countries and forbidden countries

See below the countries that can access octafx trading:

For a long time in the octafx trading, argentina, australia, austria, bahrain, belarus, brazil have been trading deposits. Also, bulgaria, china, croatia, cyprus, czech republic, denmark are far ahead in terms of business investment. Renowned european countries such as estonia, france, finland, germany, greece, hungary, india, ireland, israel, and italy are directly involved in octafx investment. Octafx includes many more countries, including kuwait, malaysia, malta, mexico, monaco, the netherlands, norway, latvia, and liechtenstein. However, lithuania, luxembourg, oman, poland, portugal, russia, saudi arabia, slovakia, slovenia, south africa, sweden, spain are still trading here. Octafx allows direct deposit transactions to switzerland, thailand, the united arab emirates, the united kingdom, and qatar.

Octafx trading does not give or receive access to US customers in any way.

Each of the countries you see here has the support to join the broker octafx. This company is a very large trading platform so you can safely place your deposits or assets here. Moreover, there is support for a minimum deposit.

Special offers:

There are some special offers from octafx. It supports copy trading and a deposit bonus of up to 50%. In the following section, we will give you more details on it.

Octafx offers a copy trading service to its clients. That means you can copy the trades of other traders or get copied. You do not have to be a forex expert to make money with octafx. You can search for a profitable trader and invest in their trader one by one. It is also possible to diversify your portfolio by invest in more than one trader for better risk management.

With octafx you have always control over your portfolio and the copied trades. It is very easy to manage. Just deposit money into your account, pick a successful trader, and start invention.

Copy professional traders 1 by 1

Full control over your investment

Follow the best traders

Earn money automatically

Get copied and earn additional money

Easy to use

Deposit bonus

Octafx offers a 50% deposit bonus. You will get additional money to increase your margin if you activate the bonus. But first of all, you can not pay out the bonus, you can only use it to make more profit. For withdrawal of the bonus, you have to do a certain turnover in trading volume (the bonus amount in lots divided 2).

50% deposit bonus

Increase the free margin

You can withdraw the bonus after doing the bonus conditions

The bonus is available for all deposits over $ 50

Conclusion on the octafx review: recommended broker

By now you must have got a great idea about octafx. We would say from our experience that this broker has its license so you can use deposits or assets in this market. Octafx has long been involved in investing and it is directly regulated by the government.

The number of customers of this company is increasing day by day. So octafx proves that it is a reliable trading platform. If you search for it in online brokers, you will first see the name of the octafx. It also controls everything through the provision of powerful software and allows customers to access the account through the mobile app. If you want to gain a transparent trading experience, create an account with octafx broker. You can get something great, from the offers of this company. You will even get the opportunity to get involved in the business with very little profit.

Overall it is a professional provider for forex and CFD trading. The trading conditions are very good and the trading fees are low. In addition, copy trading and a deposit bonus are offered. Deposits and withdrawals are working very fast.

Advantages of octafx:

Regulated and safe broker

Free demo account

Minimum deposit only $ 100

High leverage up to 1:500

Different account types

Metatrader 4/5, ctrader

Spreads from 0.2 pips

Low commissions

Professional support

Copy trading

Deposit bonus

Octafx is a good broker for traders who want to trade with tight spreads and low commissions. We can recommend its service and offers. (5 / 5)

Octafx review

Octafx

Leverage: 1:30 | 1:500

Regulation: cysec

Min. Deposit: 100 EUR

HQ: SVG, cyprus

Platforms: MT5, ctrader

Found in: 2011

Octafx licenses

Octa markets cyprus ltd - authorized by cysec (cyprus) registration no. 372/18

Octa markets incorporated - authorized by the FSA (SVG)

Top 3 forex brokers

FXTM review

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What is octafx?

Awards

Safe or a scam?

Leverage

Accounts

Market instruments

Fees

Deposits and withdrawals

Trading platforms

Customer support

Education

Conclusion

What is octafx?

Octafx is a technology based brokerage company that operates since 2011 and offers industry leading platforms such as metatrader5 and ctrader with numerous investment opportunities and great capabilities.

At the beginning of its establishment octafx walked a path from an offshore brand located in SVG and further on operated in the UK, however since 2017 closed its entity and moved to cyprus.

So, together with the european cysec license broker operates also a global offering from its entity, therefore check on carefully under which regulation you will fall as it may propose different trading conditions.

Pros	cons
forex and cfds offered	phone support not available 24/7
great trading tools	no forex education
MT5 and ctrader platforms offered
fast account opening and free demo account
no commission deposits and withdrawal options

What type of broker is octafx?

Octafx is an STP forex broker also with high standards of secure trading environment, as of the regulation it imposes. The offering to the clients is wide and even comprehensive since proposes the same if not more investment opportunities to the world trading community.

10 points summary

�� headquarters	broker located in SVG and cyprus
��️ regulation	cysec, FSA SVG
�� platforms	MT5, ctrader
�� instruments	cfds on commodities, forex, metals, indices and energies
�� demo account	available
�� minimum deposit	100$
�� EUR/USD spread	0.5 pips
�� base currencies	USD, EUR
�� education	available only through international entity
☎ customer support	24/5

Awards

Octafx already quite known and operates for a while despite a fact that received its european license just recently. So for the years it operates, octafx participates to various exhibitions and received numerous international awards along with the huge number of active traders registered at the company. That all in all confirm its status and reputable position in the industry, which we will also be able to see in detail further in our octafx review.

Is octafx safe or a scam?

The main issue and topic of our octafx review among others if its safe trading environment, which is checked as first due to its regulatory obligation and license under which the broker operated. Octafx launched since 2011 walked a path with various operation licenses including SVG registration, operating the UK branch, yet suspended this entity back in 2017 and target cyprus as its next destination of operation.

Pros	cons
cysec regulated international broker	previously operated only offshore entity
global coverage and years of operation
negative balance protection applied

Is octafx legit?

So, the main gap for these years of operation was the fact that octafx was a brand of the octa markets incorporated company that is registered, regulated and governed by the law of saint-vincent and the grenadines. Which is offshore heaven for its tax-management as well as relative ease to establish a company. Now, since octafx established its legal entity in cyprus and respectively got a license from the local cysec, which also impose regulation according to european ESMA standards.

Therefore, now we can state that octafx and its octa markets cyprus ltd entity shows us a clear state of the compliance to the necessary operation standards.

Since the regulation demands strict follow of forex business operations management, it is considered safe to open an account either with cyprus or international octafx entity.

How are you protected?

The set of regulatory requirements enables protection to the clients and including – funds segregation, application of negative balance protection while the broker is constantly overseen by the authority in terms of its safety compliance. In addition, there is a security of the traders’ accounts applied by the investor protection and compensation schemes in case the broker goes bankrupt.

Leverage

As for the leverage as a known instrument that increases the initial capital you trading with and can be a very useful tool to magnify potential gains is offered by the octafx broker as well. However, along with its great capabilities, leverage increases risks together with its benefits, so you should always learn how to use tools smartly.

Risk level

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well.

For this reason, world authorities and regulators restrict leverage to use to specify, safer levels for retail traders. Therefore, octafx cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that european traders or those clients that are registered with octafx european entity will fall under ESMA regulation that recently limited leverage.

Yet, if you still prefer to use high leverage international entity of octafx still allows so.

European traders leverage is maximum 1:30 for major currency pairs, 1:10 for commodities

International traders can still use leverage until 1:500

Accounts

Another important note within octafx review is a range of account types through which you will access trading. Eventually, the broker offers two account types that also define trading conditions and the platform that is used for trading itself.

Pros	cons
fast digital account opening	none
single account for metatrader5 or ctrader platforms
demo account offered
option between trading fee models

Types of accounts

As the broker defines by itself the MT5 account offered for a conservative trader as it is suitable for the majority of investors also supporting all trading styles and social trading as well. While ctrader will be more suitable for progressive traders or professionals as offers comprehensive trading conditions with commission based fee structure.

Besides, there is an option to submit for a demo practice account and use its unlimited sources to polish strategy or get to know platforms and octafx conditions better.

Yet, the international proposal includes also ECN and PRO account based on the platforms, besides micro account on metatrader4 platform is offered too. It is recommended for novice traders and allows micro lot trading with floating spreads starting at 0.4 pips or fixed spread at 2 pips.

Trading instruments

So what you can trade with octafx? The market range offers you the most demanded instrument while base on the CFD trading model and offering you an opportunity to speculate on the price movement on forex currency pairs, metals, energies and indices.

Another good point at octafx is its pricing strategy or a fee which you will need to pay for the usage of the octafx trading service. There are two options according to the account type you choose and the platform you use, offered by the octa markets.

While an international brand may offer slightly different conditions, which you may check from the site better.

Pros	cons
low forex fees	inactivity fee
options between spread only or commission fee basis
0$ withdrawal fee
micro lot trading available

Our find on CFD fees

So fee strategy is different according to the platforms while MT5 offers you spread only basis with a minimum spread of EUR USD 0.2 pips, which is a very good offering compared to industry standards.

And ctrader brings you access to raw spread from 0 pip for EUR USD pair plus the commission charge of 3$ pet lot.

Also, see below the comparison table with a typical octafx spread and compare brokers to other CFD brokers with CFD fees, commission or inactivity fee if applicable.

Trading fees of octafx vs similar brokers

asset/ pair	octafx fees	avatrade fees	etoro fees
EUR USD	0.5 pips	1.3 pips	3 pips
crude oil WTI	2 pips	3 pips	5 pips
gold	20	40	45
inactivity fee	yes	yes	yes
fee ranking	low	average	high

Here is a snapshot of octafx fees

Overnight fee

Also, always consider overnight charge or swap in case you’re holding the position longer than a day. It is always defined by the instrument you trade and may be visible either through a website or platform while trading. See the example on the snap above.

Deposits and withdrawals

Being able to access your funds at any time with ease and convenience is another point with a regulated broker and our octafx review. So together with its strict money management rules, you may fund your account by deposit through a bank account with no complication.

Pros	cons
no deposit fees	limited deposit and withdrawal option for european clients
withdrawals free of charge	no credit card supported for cyprus entity
wide range of payment methods supported by an international entity

Deposit fees and options

As a licensed broker that obliges to safety measures, octafx cyprus offers only bank wire transfer for its european clients. While international entity includes also credit cards, e-wallets and other methods which you may check with customer service before any transfer is done.

Bank wire transfer

What is also great, there is no charges for deposits so you won’t pay any commission, however always define it with your payment provider or bank itself as an international rule vary from jurisdiction to another.

Minimum deposit requirement

By the octafx policy, the minimum deposit set to a EUR100 allowing you to open any account type from the two offered by the broker.

Money withdrawal

Money withdrawal is the same smooth process, while octafx also covers fees so you may access your moany at any time and receive it relatively quickly. Usually, octafx confirms withdrawals within 1-2 business days, but allow extra days for you bank to process the transaction.

Here are the steps to withdraw money from octafx

By a simple follow of instructions, you may access your account and submit a withdrawal. And of course, you may always count on a great help center which is remaining at your assistance.

How do you withdraw money from account?

1. Login to your account. Select on withdraw funds’ at the menu tab

2. Fill in the form and enter the desired withdraw amount

3. Choose the withdrawal method

4. Complete the necessary form requirements

5. Confirm withdrawal details and submit

Trading platforms

Lastly and what we like the most is the octafx platform offering, while you may select either industry leading software also its newer version metatrader5 with all benefits included and not restricted, also with copy trading option. Or to use advanced and very powerful capabilities of ctrader platform.

The choice between the platform is always your and they are indeed very different, also bringing different price model and more suitable trading strategy. Metatrader5 is good for everyone and more trader friendly software, also copy trading available through it.

While ctrader platform is more sophisticated technology also the one that offering ECN direct market access which might be a better option for professionals. Besides, if you open an account with the international brand of octafx there is an option to use metatrader4 and operate through an account with micro lot trading option.

Scores & availability of different platforms

pros	cons
option between metatrader5 and ctrader	no education or video support for european entity, but available through international site
user friendly design
price alerts and push notifications
fee report
supporting various languages
web, mobile and desktop versions
MT4 offered only by international entity

Web trading platform

Both platforms supporting various versions that you may access either just by the load through your browser without any installation which is very useful. Metatrader will bring you all the benefits and powerful capabilities it offers, while ctrader webtrader is also featuring great design and look.

Desktop platform

However, advanced traders would prefer the desktop version as it feature much more customization capabilities and tools to use. So here both platforms also available for download and suitable for any operating system either ios or windows.

Look and feel

Both platforms are with clear look and feel, indeed ctrader is more complex to understand as it is packed with advanced tools yet the design is easy to navigate and customize.

Automated trading

Octafx automated trading capabilities are also useful for either beginning or professional trading through the use of popular eas. You may either create your own once or follow a specified strategy available through the community or in the market place.

Mobile trading platform

The mobile app is also offered for both platforms, while apps are simple to use and offer a wide range of tools at the same time. MT5 mobile offers various charting capabilities also customization which is fantastic for mobile trading along with full management of your account.

Customer service

Also, octafx customer support provides its clients with 24-hour live support available through live chat, email and phone support in various languages. Eventually, avatrade offers some of the greatest quality support with fast and reliable answers and a huge range of free of charge lines all around the world.

Education

Unfortunately, there is no education center or any learning materials about the trading process offered by cyprus entity, either octafx does not provide webinars or analytical research which is not so good for complete beginners.

However, octafx provides education and analysis through its international brand along with unlimited demo platforms allowing to practice strategies and test the offered systems. So if you’re beginning trader maybe you can see competition or participate to the course using other sources.

Yet, we can forgive this missing point to octafx as there are truly many benefits on the trading conditions they provide.

Pros	cons
free unlimited demo account available	no education videos, webinars or learning materials provided by the cyprus entity. All education and analysis tools included in the international offering
wide range of trading tools
trading ideas and social trading options
economic indicators and news feed

Research

In addition to its some of the good quality trading offerings among industry, all clients can enjoy absolutely stunning research tools and trading tools that are accessible directly through the platforms. Along with other user-friendly tools including calculator, fantastic and clear charting with built-in news feed and other essential trading data for your better trading.

Conclusion

Overall, octafx review shows us a broker with a quality trading strategy which offers also flexibility in terms of conditions, platforms and instruments it proposes.

While before we had some concerns due to its operation only through offshore entity now the trust is on a certain good level as octafx is regulated by the european cysec aligned with mifid directive. Therefore means its operation aligned to the necessary protection level through its either entity.

Read more about octafx license through our news by the link.

What we also admit is high-tech access to a range of the instrument and multiple platforms either for manual, algorithmic or social trading. It is definitely a great advantage that octafx offers both industry popular metatrader platform and powerful ctrader which is highly regarded by the professional traders.

Nevertheless, make sure to check the proposal of the particular octafx entity as an international brand and a cyprus one offers slightly different conditions. While obviously, octafx international proposal features more comprehensive tools and conditions along with education and research materials also MT4 availability.

Yet, it is always great to hear your personal opinion about octafx. So you may share your experience or thoughts or discuss them below or ask us for additional information.

Octafx review

Octafx is a forex broker. Octa FX offers the MT4, MT5 and ctrader forex trading top platform. Octafx.Com offers over 25 forex currency pairs, cfds, commodities, stocks, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Broker details

deposit methods:

VISA, awepay, bitcoin, fasapay, local bank deposits, local bank transfers, neteller, paytm, skrill, unionpay

withdrawal methods:

VISA, awepay, bitcoin, fasapay, local bank transfers, neteller, paytm, skrill, unionpay

Live discussion

Join live discussion of octafx.Com on our forum

Octafx.Com profile provided by john, may 29, 2012

Octa markets incorporated is a worldwide recognized forex broker. Octafx provides forex brokerage services to its clients in over 100 countries of the world. Octafx uses the most up-to-date technology and knowledge to make your forex trading experience outstandingly convenient. Our top goal is the trust and satisfaction of each client's need and requirements. Octafx sets the highest service level standards and maintains them as well as constantly develops new services and promotions.

Video

Let other traders know if this service is worth checking or should be avoided.

Traders reviews

Length of use: over 1 year

Thank you for taking the time to reach out and share your experience with us. We deeply regret that you experienced trouble depositing your funds. After looking into your review, we can confirm that an error had occurred before your payment was processed. Our financial department is currently investigating it, and we'll make sure to keep you updated throughout the process.

Please note that there are many reasons why a transaction could fail. And in cases where your payment was unsuccessful, it’s essential to contact us as soon as possible, as it might require a thorough investigation by our financial department. We want to assure you that you shouldn’t be discouraged, as we’re certain that our team will be able to locate the payment and resolve the issue you’ve experienced.

We appreciate your patience and please, remember that you can get in touch with us anytime to receive an update on the progress. We’re always happy to help our customers and provide them with the necessary information.

We hope that this issue will not affect your overall experience and you’ll enjoy trading with us once again.

DISCLAIMER: this review is not to state that octafx is the best broker in the world. I've traded with a lot of brokers and never had problems with any of them, with respect to deposit and withdrawals.

Herein are the list of transactions that I did on my account with octafx. It has the ID, time the request was created, and the time it was processed.

DEPOSIT
deposit ID 4703156
created dec 27, 2020 03:23 PM
processed on dec 27, 2020 03:50 PM

WITHDRAWALS
withdrawal ID 1930065
created dec 30, 2020 11:51 AM
processed on dec 30, 2020 12:17 PM

Withdrawal ID 1927033
created dec 29, 2020 08:00 PM
processed on dec 29, 2020 09:42 PM

Withdrawal ID 1920756
created dec 28, 2020 05:53 PM
processed on dec 28, 2020 09:43 PM

Withdrawal ID 1919630
created dec 28, 2020 03:09 PM
processed on dec 28, 2020 03:24 PM

SUMMARY:
I made the deposit to their GTB nigeria account, and made withdrawals to my GTB account. This might be the reason why I never had issues with them.

I'll advise traders to ask them [octafx] questions when they have issues, and be ready to hear and understand.

Thank you for such great feedback. We appreciate you taking the time to share it with our community and giving us one more reason to be proud of the work we’re doing with our team. We’re sure they will be excited to read your review, too, as they do their best to ensure fast and secure payment services.

Please send us a direct message if you have other questions or suggestions. Our team is always here to help, and we'll be more than happy to chat whenever you have time for us.

Deposit take less than 1sec
withdrawal take forever.

If you guys want to withdraw the money. Please do 1 year in advance

Thank you for reaching out and sharing your feelings with us. We're sorry to read about your dissatisfaction with our processing times. Please let us remind you that all withdrawal requests at octafx are processed within a few business hours. However, when our financial department handles a high number of requests, in rare cases, we ask to allow extra time, but it does not exceed 24 hours overall.

Please note that since you didn't provide your trading account number, we couldn't look into your previous requests. However, we wish to assure you that we always strive to improve our services and reduce the processing time. We also want you to know that if your payment is delayed or you feel like it’s taking longer than it should, you can send us a message in the live chat available on the website. Our team will be more than happy to update you on your request status.

We’re looking to hearing from you, so please don’t hesitate to get in touch with us anytime. Our team is available 24/7, and they're always here to help you whenever you need it.

Thank you for letting us know about the problem. We deeply regret that you were having a hard time trying to deposit, and you couldn't reach out to our support team. Unfortunately, we couldn't identify you on our system and look into your previous inquiries since you didn't provide your account details in your review. If you could contact us directly and share this information with our team, it will help us investigate the issue and understand what happened with your payment.

Please note that generally, it takes a couple of hours for bank transfers to be processed. However, we ask you to allow us extra time when our financial department handles a high number of requests. There could be different causes of why your payment is delayed and not reflected in your account. This requires an investigation, and we strongly encourage you to send us your payment proof if your deposit wasn't credited into your account after 24 hours have passed. These actions could help our team look up your payment and process it.

In the meantime, don’t forget that our team composes of real agents committed to helping you whenever you need it, so please contact us after reading this reply. We’ll make sure to find your payment as soon as possible and keep you updated.

Bank negara malaysia

Length of use: over 1 year

Thank you for reaching out and bringing this question to our attention. Unfortunately, we couldn't identify you on our system and look into your review since you didn't provide any details about your trading account or the bank you were using at the time. We’d really appreciate it if you could get in touch with our team and share the necessary details to help us find out what happened and investigate the matter.

We also want to remind you that our support team is always here to help you. They're available 24/7, and we'll be more than happy to hear from you and assist whenever you need it.

We're looking forward to hearing from you soon.

Length of use: 6-12 months

I have a lot of experience with various brokers, but octafx is the absolut best.

Low spreads.
Great bonus conditions.
Very fast withdrawal without any fees..
Good customer service.

Thank you for sharing such thoughtful feedback about our brokerage. We try really hard to provide the best trading experience for our customers here at octafx. Reading reviews like yours is a great hint that we’re providing our customers with the services that meet their needs, and we truly couldn’t be happier that that’s the case for you. We appreciate you being our client and want to say that you're always welcome on our chat at any time if you have any questions or suggestions.

As we’re already addressed your complaint in the thread you’ve created here on FPA, please allow us to echo what we’ve said here.

Thank you for your patience while we consulted your case with our team. After looking into the matters you brought to our attention, we can see that the cards you used to fund your trading account for the first and second time were different.

Please note that in such cases, our financial department may request verification of the second card to ensure it belongs to you and not to a third party, as all third-party transactions are strictly prohibited here at octafx. Therefore, the procedure is fully in line with our security measures.

We cannot merely block the possibility of conducting further transactions because in cases where funds do belong to a third party, we have to ensure that they’re refunded to the originating account. Therefore, it’s the trading activity that must be restricted to ensure that such money is not used for trading.

Looking into your trading history, we can see that the orders you're referring to were closed 17 hours after you got back access to your account. However, those orders could have been closed before the stop out occurred either in profit or with less loss as the two hours of account locking did not impact them. You decided to trade in the same direction, and it eventually led to the stop out. There were no issues from our side, and your orders were executed as per the market conditions. Unfortunately, there are no grounds for compensation/reimbursement as it was solely your decision to continue trading.

We want to remind you that despite this incident, you're always welcomed to contact us anytime, and we'll be more than happy to hear from you and help with any questions you may have.

I have been trading with this useless trader for 3 months now and im becoming more and more worried about the way this company handles my query or any issues.
1. They say there will be no swaps charged to accounts having funded more than 10k.
But they still keep charging the swaps and later asks me to provide details against the wrongly charged swaps. As in I'm working for octa FX and I will keep all this information ready for them.

2. They don't have a trading practice called partially closing a trade. If you are making losses on the trade you cant close it partially to minimize the loss. Rather it will book the entire loss and again open a new trade of the remaining lot. This is so weird and when I spoke to my account manager he gave fake promises of being working on the resolution.

3. They treat their customer with the least priority and I'm still to get my money reversed from them which now more than 50 days.

Nov 6, 2020 - 1 star octafx is a fraud company.. Beware.. You can lose money even without trading. There is no way you can contact there finance team. It's only the customer support team that never has any clue of what is happening.. In my case, 2 transactions of INR50000 got debited from my account on the 5th october 2020 but did not credit to my trading account. Since then I'm chatting with them every day.. But getting the same response .." madam we have requested for update sorry for the delay".. Every single day they are responding with the same message. After 1 month today on 05th nov, I asked them to arrange a call back from the account manager, when that human called me he was clueless about what is happening on my issue. He said he is following up with the finance team but he was not ready to provide a single email communication regarding the same. Still, no one knows what will happen to my funds. They don't have a call-in number. Only chat support. I have been trading with multiple traders and this is the worst of all. You cant talk to them at all. They don't respond to emails.. I'm very frustrated..

Reply by octafx rep submitted nov 20, 2020 dear shaziya shaikh,

Thank you for taking the time to share your experience with us. We're sorry to read that you had trouble depositing your funds at octafx. We've looked into your review, and as we can see, it is still being investigated by our financial department. We can also see that you've recently mentioned on social media that one of the transactions got back successfully, but there's still one missing. We're extremely sorry that it's taking so long, and we apologize for all the inconvenience you may have faced as a result. Please note that we’re still exchanging with the payment processor and are waiting for updates to provide you with as soon as new information reveals itself.

We wish to assure you that we’re committed to resolving this issue as soon as possible but want to ask you to allow us a bit more time. We understand how uncomfortable you may feel about the matter, and we want to tell you that we take it very seriously. We'll do everything that it takes to prevent such cases in the future and reduce the processing times. Please bear with us and remember that our customer support is constantly checking your case and they will be more than happy to provide you with the latest details.

We're looking forward to hearing from you soon. And we hope that it won't take much time to receive your funds back.

We deeply regret to read about your dissatisfaction with our services. We'll be more than happy to receive feedback from you about what could be improved, considering that the issue with swaps has been resolved and you were compensated.

As for the partial order closure, we're aware of the issue. However, it's not something we could influence and fix immediately as it would require an extensive amount of time and effort once such feedback is passed to the relevant department. However, we want to ensure you that we take your suggestions and recommendations very seriously, and we'll make sure they're all addressed and considered by our team.

We would also appreciate it if you could share what could be improved regarding our customer support services to meet your standards. It's one of our top priorities to ensure that we provide the most convenient trading experience to our customers and everything is done to your satisfaction.

Please send us a message anytime soon. Our team is always here for you, and we'll be happy to hear from you whenever you have any questions.

So, let's see, what we have: in depth review of the STP ECN forex broker octafx. Trading platforms, trading offerings, deposits and withdrawals and much more reviewed in 2020. At octa fx review