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
5 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

Pros

  • OCTA FX offers competitive spreads making it an attractive option for traders looking to save on trading costs.

  • Decent range of instruments for traders to choose from.

  • OCTA FX's market execution is lightning-fast, with orders executed in under 0.1 seconds.

  • Traders also get to enjoy high leverage of up to 1:500.

Cons

  • OCTA FX does not currently accept clients from the United States, which may be a dealbreaker for some traders.

  • While OCTA FX does offer a good range of educational resources, some traders may find that the content is limited in terms of variety.



Unique Selling Points

1. Best for technical trading solutions

2. Multiple trading incentives: With OCTAFX, there are exciting trading incentives. One of the standout features of the platform is the fantastic contests. Whether you're a Demo account user or a seasoned pro, its Champion contest will pump your adrenaline. There are also exciting giveaways, like the Trade & Win promotion, which allows you to win big just by trading.

3. Generous deposit bonus: OCTA Forex offers a generous 50% deposit bonus to give you more trading power. You can also participate in its Exclusive Status Program. Here, you can unlock more benefits as you trade. As you progress through the program, you'll gain access to additional perks and rewards, including personalized support and special promotions.

4. Fast execution: OCTAFX uses advanced technology to ensure that slippage is kept to a minimum, with 97.5% of orders executed without any slippage. This means you can have more control over your trades and capitalize on market opportunities without worrying about price changes.


Introduction

OctaFX has been a global brand offering Forex trading services since 2011. The brand comprises two independent broker entities; Octa Markets Cyprus Ltd and Octa Markets Incorporated. These entities allow traders to choose the Broker that best suits their needs.

Octa Markets Cyprus Ltd is registered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission. This gives users added protection since they will be trading with a broker that operates under European regulatory oversight. Plus, with OctaFX.eu, traders can access a wide range of investment options.

On the other hand, Octa Markets Incorporated, based in St. Vincent and the Grenadines, offers its clients higher leverage and bonus promotions. This has made OctaFX.com a popular choice among traders from 185 countries. The website offers accessibility and tight spreads on almost all currency trading pairs, including exotic pairs.

Opening an OctaFX account requires a low minimum deposit of $100. Furthermore, all account types are available as Islamic accounts that comply with Shariah law. This makes OctaFX an excellent choice for traders who prefer to trade with an ethical and socially responsible broker.


Supported Countries

OCTAFX is a global Forex trading platform that provides services to traders from a whopping 185 countries worldwide. Some of the most popular countries where OCTAFX provides its services include India, Malaysia, Pakistan, Nigeria, Indonesia, and South Africa.

While OCTAFX is committed to serving traders worldwide, it's important to note that the platform does not provide its services to U.S. citizens or residents, as well as all U.S.-dependent countries and territories. 

In addition to these, countries such as Libya, Niger, North Korea, Russia, Syrian Arab Republic, Kazakhstan, Iraq, Iran, Cuba, Brazil, and Belarus are not also serviced by this Broker. This is due to regulatory restrictions that prevent OCTAFX from operating in these areas.


Customer Service Rating

OCTAFX is a well-known Forex trading platform that has garnered positive reviews from traders worldwide. On Trustpilot, OCTAFX has amassed an impressive 4,402 reviews with an Excellent rating and 4.4 stars out of 5 from users.

A whopping 73% of reviewers gave the platform a 5-star rating, a testament to OCTAFX's commitment to providing its users with a top-notch trading experience. Many positive reviews raved about the platform's customer support system, citing its fast response times, speedy deposit process, and effectiveness in resolving issues.

However, OCTAFX could be better. Some negative reviews noted difficulties in withdrawing earnings, with some users reporting little to no resolution in sight.


OCTA Forex Trading Platforms

Octa Forex Brokers provides traders with three trading platforms: the MetaTrader 4, the MetaTrader 5, and the OctaTrader. With these platforms, you can choose your preferred option based on your trading experience.

  • The OctaTrader: This is a proprietary web trading platform provided by OctaFX, delivering a simple trading experience for essential trading operations. It is available on the web, as well as on Android and iOS devices. OctaFX has an intuitive copy trading feature. With over 10,000 "Master Traders" to choose from, you can find the perfect fit for your trading style on their CopyTrading app. And with tools to help you compare performance rankings and risk scores assigned to each trader, you can make informed decisions about who to follow.

  • The MetaTrader 4: The MT4 on OctaFX is user-friendly and highly customizable. It comes with comprehensive features and tools that enhance traders' performance. MT4's excellent charting functionality allows OctaFX traders to analyze price movements and make informed trading decisions. Advanced order management tools give OctaFX traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies. You can access the MetaTrader 4 platform in multiple formats, including through an online web platform and a downloadable application for Windows PCs and Apple MacOS computers. Traders can trade on mobile devices through Android devices.

  • The MetaTrader 5: MT5 is a multi-asset trading platform that offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices, besides Forex and CFDs. It also features a massive range of tools like different timeframes and the most up-to-date technical indicators to give you all the trading resources you need to trade on and analyze the financial markets. With MT5 on OctaFX, traders have the convenience of using automated trading systems and copy trading, giving them a competitive edge in the financial markets. The MetaTrader 5 platform is available in multiple formats, such as online web platform, downloadable application for Windows PCs and Apple MacOS, and via Android devices.


Type of Trading Accounts on OCTA Forex

OctaFX makes trading easy with two account options: one MT4 Account and one MT5 Account.

  • The OCTAFX MT4 account is perfect for traditional traders who want an easy start to trading. With floating spreads starting at just 0.6 pips, a recommended deposit of only $100, and high leverage options of up to 1:500 for currencies, you can trade confidently. You can trade with metals, energies, indices, and cryptocurrencies and use hedging, scalping, and expert advisors. With a maximum volume of 200 lots, you have plenty of room to maneuver and make the most of your trades.

  • The OctaFX MT5 account: This account type is perfect for innovative traders who want to take their trading to the next level with intelligent tech. You'll enjoy a floating spread that starts at just 0.6 pips with no commission or markup fees. The OCTA FX minimum deposit for this account type is $100. You'll enjoy leverage up to 1:500 for currencies, 1:200 for metals, 1:50 for indices, and 1:25 for cryptocurrencies. The precision is 5 digits, and the deposit currencies are USD or EUR. The minimum volume is just 0.01 lots, while the maximum volume is a whopping 500 lots. With OctaFX MT5, you won't have to worry about swaps either. The margin call/stop-out level is 25%/15%, so you can confidently trade.


Trading Denominations on OCTA Forex

OCTA Forex broker offers a choice of two currencies to denominate your Account. You can choose the U.S. dollar (USD) or the Euro (EUR). 


Company Structure

OCTA FOREX is a brokerage firm that provides services to over 100 countries around the globe, including the U.K. through its branch, Octa Fx U.K. This Broker has been in the business for over 11 years now, and they continue to attract more and more clients.

One reason is that they work with numerous liquidity providers worldwide, ensuring their clients always get the best prices. OCTA FOREX has trade servers and data centers in Europe and Asia, which means fast and reliable connections for their clients.

The company operates on the ECN/STP model and executes orders at market price in less than 0.1 seconds. FOREX offers low spreads, commission-free deposit and withdrawal methods, and negative balance protection.

Throughout its existence, OCTA FOREX has won many impressive awards. They were named the Best ECN Broker in Asia in 2014 and the Best Online Broker Global 2022 award from World Business Outlook. They also received the Most Secure Broker Indonesia 2022 award from International Business Magazine and the Best Forex Broker Malaysia 2022 award from Global Banking.


OCTA Forex Licenses and Regulatory Compliance

The financial authorities of St. Vincent and the Grenadines fully regulate OctaFX.com. The platform is also registered with several other regulatory bodies, below is the full list of its regulation:

  • CySec with license number 372/18 for its OctaFX.eu site, 

  • FCA (United Kingdom) license №679306,

  •  FSA (Saint Vincent and the Grenadines) license №19776 IBC 2011, and 

  • FSCA (South Africa).


OCTA Forex Customer Protection

OCTA Forex takes client protection seriously. For starters, your funds are kept separate from their corporate funds, so you can ensure your deposits are secure. They offer negative balance protection, which means you will only owe them money if your trades go as planned.

They also provide a team of highly professional security engineers and technical specialists who monitor activities on the platform 24/7. Regarding account security, the platform operates SSL and 128-bit encryption to protect your personal information.

They have 3D secure technology to ensure that your transactions are safe and secure when using a credit or debit card. To further protect your withdrawals, they require that you use the exact payment details for both deposits and withdrawals. Your funds can't be transferred to any unauthorized third parties.


Trading Information

On OCTA FX, there are over 35 currency pairs to choose from. They don't charge any commission or markup fees. Plus, with a recommended deposit of just $100, you can start trading quickly. The market execution time is impressive, under 0.1 seconds, and with precision up to 5 digits, you can be sure every trade is accurate and reliable.

Asset Class

Trading Time: From

Trading Time: To

Forex

Monday 00:00

Friday 23:59

Cryptocurrencies

Monday 00:00

Friday 23:59

European Index CFDs

Monday 00:00

Friday 23:59

Commodities

Monday 00:00

Friday 23:59

US Index CFDs

Monday 00:00

Friday 23:59


Tradable Instruments

OCTA Forex Broker offers diverse instruments that cater to all your trading needs.

  • 35 currency pairs

  • Gold and silver

  • Energies

  • 10 indices

  • 30 cryptocurrencies

  • 150 stocks


OCTA Forex Leverage

Octa Fx Brokers provides traders with various leverage options that suit different trading needs. The leverage you get is dependent on what instruments you are trading.

  • For currencies, our maximum leverage is an incredible 1:500, giving you the flexibility to trade with more significant amounts than your deposit.

  • ZARJPY has a maximum leverage of 1:100

  • Metals come with a leverage of 1:200, providing you with more opportunities to profit from price movements.

  • Energies have a maximum leverage of 1:100, making trading on oil and gas markets easier.

  • Indices come with a leverage of 1:50, giving you more trading power on market indices.

  • Cryptocurrencies have a leverage of 1:25, allowing you to trade on popular digital currencies.

  • Stocks have a maximum leverage of 1:20, giving you more flexibility to invest in top companies.

With such high-leverage options, you can trade with more significant positions and maximize your potential profits. This makes OCTA FX well-suited for scalpers and traders who require highly leveraged trading accounts. 


Deposits and Withdrawals

OCTAFX provides convenience and eases when it comes to funding your trading account. You can deposit funds into your Account quickly and efficiently as they support various payment options, including bank transfers, credit/debit cards, and e-wallets.

Deposits 

Payment Method

Minimum Amount

Commission

Execution Time

Instant Bank Transfer

Varies

Free

1-5 Minutes

MasterCard

$50.00

Free

Instant

Bitcoin

0.00037000 BTC

Free

3-30 Minutes

Skrill

$50.00

Free

Instant

Neteller

$50.00

Free

Instant


Withdrawals

OCTAFX offers a range of withdrawal options, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. The minimum withdrawal amount may vary depending on location and method of withdrawal. In addition to this, you won't have to worry about any withdrawal fees.

However, keep in mind that OCTAFX requires you to use the same payment processor for both depositing and withdrawing. But with their user-friendly platform, it's easy to keep track of your transactions and ensure a smooth process.

Payment Method

Minimum Amount 

Commission Fee

Execution Time

Local Bank Transfer

Depends on Location

Free


1-3 hours

Skrill

$5.00

Free

1-3 hours

Bitcoin

0.00009000 BTC

Free

1-3 hours

Neteller

$5.00

Free

1-3 hours


Tether ERC-20

10.00000000 USDTE

Free

1-3 hours


Ethereum

0.00500000 ETH

Free

1-3 hours


OCTAFX Trading Education and Training

OCTAFX provides avenues for traders to enhance their trading skills and knowledge. Their educational and training features include:

  • Webinars

  • Articles on Forex basics

  • Video courses

  • Tutorials in both articles and videos

  • Comprehensive glossary

  • FAQ section

  • Market information

  • Economic calendar

  • Market Insights

  • Forex news


FAQs

Is OCTA Forex legit?

OCTA Forex is a reputable and trustworthy trading platform committed to providing its users with a safe and secure trading experience. The Broker takes pride in adhering to strict regulations and industry standards to ensure its platform is free from fraudulent activity or scams. Over the years, they've built a reputation on transparency, fairness, and honesty.

How do I open an OCTAFX trading account?

Opening an OCTAFX trading account is quick and easy. Follow these simple steps, and you'll be up and trading in no time:

  • Go to the OCTAFX website at www.octafx.com

  • Click on the "Open account" button in the homepage's top right-hand corner.

  • Fill out the registration form with your personal information, including your name, email address, and phone number.

  • Review and agree to the terms and conditions.

  • Click on the "Open Account" button to complete the process.

Is OCTAFX Copy Trading Profitable?

The copy trading service on OCTAFX allows traders to replicate the trades of other successful traders automatically. Many traders find this a valuable service as it saves time and effort and potentially increases profitability.

Copy trading can be profitable, but it requires careful consideration of the trader being copied on their strategy and performance history. Doing your research and analysis before deciding to copy a trader and always having a risk management plan in place is essential.


Conclusion

OCTA Forex is a solid and reliable trading platform for beginner and experienced traders. With its wide range of trading instruments and high-leverage options, OCTA Forex provides its users ample opportunities to make profitable trades.

OCTA Forex is an excellent choice for anyone looking to enter the world of online trading. Its combination of low fees, comprehensive trading tools, and helpful resources makes it an excellent platform for novice and experienced traders.

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:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
25 %
Speed ​​of execution:
0.1 sec.
Commission:
there is
Phone trading:
No
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:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
25 %
Speed ​​of execution:
0.1 sec.
Phone trading:
No
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:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
45 %
Speed ​​of execution:
0.1 sec.
Phone trading:
No

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

Sarava 26 November 2020

Advantages: Execution

Disadvantages: High fees

Comment: OctaFX’s spreads are very high, plus the fees are ridiculous! I would have stayed here for a time because their execution is insanely fast, but the fees are just too expensive. They’re not for beginners with limited capital on hand. Better go with the likes of XM, FxPrimus or Fullerton Markets.

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Dimas 18 June 2020

Advantages: NONE

Disadvantages: Withdrawal issue

Comment: The worst Forex broker I’ve ever traded with. My last withdrawal was rejected 6 times without any valid reasons. Their support wrote me the same email, that they’re investigating it, that they’re going to contact me blah blah blah. If you want to trade without any withdrawal issues, go somewhere else. Stay away from Octa FX.

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Bemba 06 June 2020

Advantages: no

Disadvantages: copytrading sucks

Comment: Octa FX’s copy trading system is complete trash. I was a copytrader and I copied trades from someone. I made decent profits, but on May 16, they suddenly changed my master trader. I lost half of my capital within just a matter of hours. I contacted their support department only to be told it wasn’t their fault, that I did change my master trader. I didn’t! Why would I if I was making profits! Please don’t use their copy trading.

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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.