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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

Octa FX Review

2.56
25 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

Octa FX general information

Founded in: 2011 year
Headquarters:
Saint Vincent and the Grenadines
Offices in the country: United Kingdom
Minimum Deposit: 100 $
Website: www.octafx.com
Website languages:
English, Bengal, Indonesian, Spanish, Chinese, Malay, Deutsch, Portuguese, Thai, Hindi
Execution model:
ECN
Deposit currency: USD, EUR
Support languages: English, Indonesian, Chinese
Regulated by:
FCA (United Kingdom) license №679306
FSA (Saint Vincent and the Grenadines) license №19776 IBC 2011
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, Standard Accounts, ECN accounts, Micro accounts
Affiliate program: Not
Deposit bonus: 50 %
Deposit bonus can only be credited to a verified account. Deposit bonuses can only be credited to any MT4 | MT5 account.

Octa FX Forex broker description

Founded in 2011, Octa Fx Brokers is a relatively new firm in the industry of forex trading but it has already made positive headlines within the short time it has operated. The company was developed in Saint Vincent and the Grenadines but its operating base is in Jakarta, Indonesia. Due to this, Octa Fx has mainly concentrated on the Asian market, although it provides services to over 100 states around the world, including the UK, through the Octa Fx UK.

When choosing the broker to register with, traders often look at the regulating body and the awards the firm has won. Octa Fx Brokers has collected some significant awards including the Best Broker Central Asia 2014 and the Best ECN Broker in Asia 2014. The site of the company details at least 6 awards that it has collected over the years. And that’s not all since the company has scaled higher heights to be one of the best in the industry today as you will see from this review.

Trading Accounts

The trading accounts at Octa FX Brokers are classified into three categories, according to the platforms preferred by the clients. These accounts include:

MT4 Micro Account

This account is recommended for beginners and does not charge any commission. The account offers both the floating and fixed spreads and will require a minimum deposit of $100.  This deposit is friendly to beginners; in fact, it is below the market average of around $200.  The account has a maximum leverage of 1:500, which is too high. Floating starts at 0.4 pips while fixed starts at 2 pips.

MT 5 Pro Account

Another type of account found at Octa Fx Brokers is the MT 5 Pro Account which was designed to cater for experienced traders. Unlike the MT4 Account which has both the fixed and floating spreads, this account only has floating spreads. It is also commission-free and offers a maximum leverage of 1:200.  The minimum deposit is slightly higher when you compare to the MT4 account and is set at $500. Floating starts at 0.2 pips.

cTrader ECN Account

This account is perfect for traders who wish to trade with raw spreads as well as floating spreads. It minimum deposit is set at $100 and has a maximum leverage of 1:500. cTrader ECN Account is very similar to the TM4 account but it does not offer fixed spread. Floating starts at 0 pips.

The Firm and Security of Funds

Octa Fx Brokers is an award-winning firm that provides trading in over 28 currency pairs as well as precious metals under astonishing trading conditions on the MT4 platform. Until recently, the company was authorized to offer financial services by the FCA (Financial Conduct Authority), one of the top regulators globally.

Besides the strict rules to licensed brokers, the FCA also has a compensation scheme that takes cares of traders in case the broker is liquidated. This is because all firms licensed by this authority fall under the FSCS (Financial Services Compensation Scheme) which provides $50,000 to every person. Sadly, the broker lost the FCA license in 2017 and the reason for that is not clear.

Trading Conditions and Platforms

Minimum Deposit

Do not be fooled by the three accounts we have looked above and think that the minimum deposit is $100. Actually, the Octa Fx Broker sets its minimum deposit at just $5 for all UK clients, a symbolically low amount. This is way below the market average that stands at around $100.

Leverage

The maximum leverage provided by Octa Fx Brokers is extremely high, hitting a high of 1:500. Although high, some forex brokers offer this same leverage and even a higher level, however, this might change in the UK since the FCA wants to cap it at 1:50 (just like the US).

Regulators usually imposed a restriction on the leverage level so as to protect the traders from the high risk linked with the trading margin, which can result in losses that go way beyond the initial investment.

Spreads and Commissions

The spreads and commissions are determined by the account you choose. The MT4 Micro Account has a spread of 0.4 pips for floating spreads and a spread of 2 pips for the fixed variation.  MT 5 Pro Account provides a spread of 0.2 pips while the cTrader ECN Account provides a spread of 0 pips.

For the UK traders, they can enjoy a reasonable spread of 0.6 pips for the USD/EUR pair; which is a great offer considering what other traders get. There is no commission here, which is a good thing considering that Octa Fx Brokers recovers the price through other means.

Trading Platforms

Unlike the UK-based Octa Fx which offers just MT4, the Octa Fix Brokers offers three types of trading platforms. These are the MetaTrader4, the MetaTrader5, and the cTrader. These platforms come in handy as they allow you to choose your preferred option, depending on your level of trading.

The MT4 platform is suitable for both the mobile apps and PC versions. It is the number one choice for many traders since it offers some unique benefits that you cannot find in other platforms. For instance, the platform comes with a dozen technical analysis indicators, expert advisors, advanced charting package, and wide back-testing environment.

Promotions

Presently, Octa Fx Broker provides a 100% bonus for every deposit. This is a good bonus that will welcome traders and make them have that extra cash to keep on trading. With this bonus, you can afford a higher margin trades, and not worry about the risk. And you can choose from different kinds of payment methods including Netteller, Skrill, bank wire transfer, and credit card. 

Briefly about Octa FX Brokers

If you are not sure about Octa FX brokers, you can easily check Octa FX comments and review. It provides a decent deposit bonus for every investment you make and is quite reliable. The firm responds to your trading need by being efficient and always keep the clients are the heart of every business.

Trading accounts of Octa FX

  • cTrader ECN
  • MT4 MICRO ACCOUNT
  • MT5 PRO ACCOUNT
Trading platforms: cTrader
Minimum Deposit : 100 $
Deposit currency : USD - US Dollar
EUR - Euro
Trading instruments:
Forex1:500
Number of currency pairs: 27
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CHF
  • USD/JPY
Metals1:200
  • Gold
  • Silver
Energy sources1:100
Stop Out:
15 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
25 %
Speed ​​of execution:
0.1 sec.
Commission:
there is
Phone trading:
Not
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 100 $
Deposit currency : USD - US Dollar
EUR - Euro
Trading instruments:
Forex1:500
Number of currency pairs: 27
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CHF
  • USD/JPY
Metals1:200
  • Gold
  • Silver
Stop Out:
15 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
25 %
Speed ​​of execution:
0.1 sec.
Phone trading:
Not
Trading platforms: MetaTrader 5, MetaTrader 5 Mobile
Minimum Deposit : 500 $
Deposit currency : USD - US Dollar
EUR - Euro
Trading instruments:
Forex1:200
Number of currency pairs: 27
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CHF
  • USD/JPY
CFD's1:50
Amount of assets : 44
  • Indices
Metals1:100
  • Gold
  • Silver
Stop Out:
30 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
45 %
Speed ​​of execution:
0.1 sec.
Phone trading:
Not

Contacts of Octa FX

Headquarters
Сент Винсент и Гренадины , КингстаунCedar Hill Crest, Villa
show on the map
+44 20 3322 1059Телефон штаб-квартиры

Recent customer reviews of Octa FX

Cynthia Morgan 01 July 2021

Advantages: Recover

Disadvantages: None

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Advantages: Recovery

Disadvantages: None

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Advantages: .

Disadvantages: .

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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.