Octafax

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.

No deposit forex bonuses

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.

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.

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.

Octafx review and tutorial 2021

Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Octafx offers leveraged trading on currencies.

Trade popular digital currencies at octafx.

Octafx is a forex, CFD and copy trading broker offering the MT4, MT5 and ctrader platforms. In this broker review, we’ll login to the personal area and uncover the key features, including leverage, demo accounts, regulation and more. Read on to find out if octafx is a good forex broker or not.

Octafx details

Octafx was established in 2011. The company’s headquarters are located in saint vincent and the grenadines, with an additional support office in jakarta, indonesia. The broker’s EU entity, octa markets cyprus ltd, is located in limassol, cyprus, and is regulated by the cysec.

With over 1.5 million trading accounts and a long list of forex industry awards, the founder and owner has ensured the company has amassed a global reach.

Trading platforms

Metatrader 4

The MT4 platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility.

The platform allows you to develop your own expert advisors and technical indicators to suit your trading style. In addition to the 30 in-built technical indicators, advanced charting tools allow you to analyse price fluctuations and trends in the market, using 3 customisable chart and graph types.

Note that MT4 is currently only available for non-EU clients.

Octafx metatrader 4

Metatrader 5

MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy and more advanced features.

Users enjoy 8 types of pending orders, 44 analytical objects including gann and fibonacci retracement, plus additional technical indicators which are unique to MT5, such as trend oscillators and bill williams’ tools. There’s also an economic calendar as well as two major accounting modes for greater flexibility: hedging and netting.

Both platforms come in several languages, including english, arabic and hindi, and are compatible with windows pcs. Octafx provides a useful download guide on the website.

Octafx metatrader 5

Metatrader webtrader

For those using mac pcs, octafx also offers the web terminal version of MT4 and MT5, meaning traders can access the markets straight from an internet browser.

The web platforms are highly functional and customisable, boasting the same features found in the desktop versions, including charting tools, market indicators, scripts and expert advisors, plus access to diverse order types and execution modes.

Ctrader

The ctrader platform is a robust system designed for forex and CFD trading. The platform includes over 26 in-built chart views and up to 50 chart templates on a fully customisable interface. The platform boasts an impressive suite of 70 technical indicators and 28 chart timeframes, plus advanced level scalping and visual back-testing using cbot. With full market depth, traders can also execute advanced online trading strategies as well as programmable algorithms.

The ctrader platform is ready to download from the website once you have completed the registration process. The ctrader web terminal is also available for macos users.

Octafx ctrader

Markets

Octafx offers some of the most popular products, including:

Forex – 28 currency pairs including EUR/USD and USD/JPY

Indices – 10 CFD indices available such as US30 and NASDAQ

Commodities – including spot gold and silver contracts, plus brent and crude oil

Cryptocurrencies – 3 major digital currencies available; bitcoin, ethereum and litecoin

Trading fees

Typical variable spreads for EUR/USD are around 0.7 pips in both the metatrader and ctrader platforms. Gold spreads (XAUUSD) start from around 2 pips and major indices such as NAS100 are around 3.5 points. Bitcoin spreads (BTCUSD) are around 3.1 pips. Fixed spreads are also available for MT4 USD accounts.

Trading commissions are only charged in the ctrader account, at 0.03 USD per 0.01 lots. There are also rollover rates applied on positions held over 3 days. Details of these fees are listed in the product specifications.

Leverage

Octafx offers generous leverage limits up to 1:500 for currencies in the MT4 and ctrader accounts. Leverage in the MT5 account is available up to 1:200 on currencies. Metals can be leveraged up to 1:200, indices and energies up to 1:50, and cryptocurrencies up to 1:2.

Note that EU clients can only trade with leverage up to 1:30.

Mobile apps

Octafx delivers mobile app versions of the MT4, MT5 and ctrader platforms, available for iphone and android devices. The apps offer many of the essential features found in the desktop applications, including a complete set of orders in metatrader and full balance, margin and P&L information in ctrader. All trading apps come with a customisable mobile interface with clean and accurate trading functions, as well as custom mobile price alerts.

Octafx MT4 mobile app

Octafx (non-EU) also offers a downloadable proprietary copy trading mobile app, currently available only on android (APK) devices. The app allows you to manage and keep track of trading accounts whilst on the go. Users can also activate bonuses, access trader tools and deposit into their accounts. The app download process is quick and can be accessed from the google play store.

Octafx mobile app

Payment methods

Octafx offers a few fast funding methods which vary depending on your origin country, including bank cards, perfect money and bitcoin. Local bank transfers are also available for traders from certain countries, including thailand, india and nigeria.

The minimum withdrawal and deposit amounts are 5 USD for perfect money, 0.00096000 for bitcoin and 50 EUR for cards. All deposits methods are generally processed instantly or within a few minutes.

There are no commissions charged on deposits, withdrawals or currency exchange rates, except for 0.5% on perfect money deposits. The withdrawal time for all methods is 1 to 3 hours to approve and up to 30 minutes to transfer the funds. There is no withdrawal limit on earnings.

Demo account review

Octafx traders can open a demo account which provides the same trading experience as a live account but without risking any real investment. Each demo account is loaded with unlimited demo dollars and opportunities to participate in the broker’s demo contest to be one of the next champions. You can sign up for a free demo account in just a few minutes.

Octafx (non-EU) offers several deposit bonus deals, including a 50% bonus and a 100% bonus during special offer periods. In addition, there’s the trade & win promotion where traders can win gifts such as octafx t-shirts or gadgets. There are also contest opportunities, including the octafx 16 cars contest where traders are entered into a car prize draw every 3 months, as well as the champion demo contest 2020 for MT4 users.

Make sure to check all bonus terms and conditions before participating.

Regulation review

Octa markets cyprus ltd is authorised and regulated by the cyprus securities and exchange commission (cysec), under license number 372/18. EU member state residents are therefore protected by strict regulatory standards, including segregated client accounts and protection by the investor compensation fund.

The non-EU entity also claims to provide segregated client accounts to protect trader funds, as well as negative balance protection which ensures that trader account balances never fall below zero.

Additional features

Traders benefit from a range of additional education features and trading tools at octafx, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the autochartist plugin and live quotes.

Octafx also offers a copy trading service, which is available on the desktop terminal and through the android mobile app. The copy trading services allows clients to automatically copy leading traders based on the equity and leverage of both the master trader and the copier’s accounts.

Octafx economic calendar

Account types

There are 3 account types available at octafx, which are determined by the trading platform you are using: micro (MT4), pro (MT5) and ECN (ctrader). Accounts are available in USD or EUR. The minimum trade volume across all accounts is 0.01 lots and there is no maximum.

The main differences between the accounts is the assets available to trade, the spreads and the minimum deposit amounts. The micro and ECN minimum deposit is 100 USD. The minimum deposit in the pro account is 500 USD. Commissions are also charged in the ECN account.

Account opening is easy and requires the submission of ID documents in line with KYC requirements. In most cases, if your documents are submitted clearly, verification should only take up to 3 hours.

There is also an islamic swap-free account for those worried about whether trading is haram or halal. Note clients from the united states are not accepted at octafx or octa markets cyprus ltd.

Benefits

Traders enjoy several benefits when trading with octafx vs the likes of FBS, IQ option and exness:

Metatrader and ctrader platforms

Bonuses and contests (non-EU)

Commission-free trading

EU regulation

Drawbacks

Compared to other brokers such as hotforex, XTB and olymptrade, octafx does fall short in some areas:

Not FCA regulated

Limited funding methods

Zero pip spreads unavailable

No copy trading on ios devices

Trading hours

Trading times in the MT4 and MT5 platforms are 24/5, from 00:00 on monday to 23:59 on friday server time (EET/EST). The ctrader server time zone is UTC +0, though you can set other time zones, such as GMT, for charts and trading information.

Customer support

For telephone support, non-EU clients can contact the helpline, +44 20 3322 1059, between 00:00 and 24:00, monday to friday (EET). For EU clients, the number to call is +357 25 251 973 between 09:00 and 18:00, monday to friday (EET).

There is also an email form, however, the fastest way to get in touch is via the 24/7 live chat service, which you can access by clicking on the chat logo at the bottom of the website. The support team are helpful if you need to know your withdrawal pin, any platform problems, VPS questions, or you want to delete an account.

In addition, you can find updates on the broker’s social media pages, as well as the octafx youtube channel.

The broker’s head office addresses are:

Octafx, suite 305, griffith corporate centre, beachmont, kingstown, st vincent and the grenadines

Octa markets cyprus ltd, 1 agias zonis and thessalonikis corner, nicolau pentadromos center, block: B’, office: 201, 3026, limassol, cyprus

The broker’s website is available in a number of languages for clients from indonesia, malaysia, pakistan and india.

Security

Octafx uses 128-bit SSL encryption and PIN codes in the personal area and trading platforms, which is the industry-standard security requirement for protecting personal data. The broker also applies 3D secure visa authorisation when processing credit and debit card transactions.

Octafx verdict

Octafx offers a promising trading service for novices and experienced traders, with a choice of metatrader or ctrader platforms as well as the copytrading app. The broker offers fee-free deposits and withdrawals, plus islamic accounts and a demo solution. The ECN spreads are also decent, though not as competitive as the zero spread accounts offered at other brokers like XM, for example.

Accepted countries

Octafx accepts traders from australia, thailand, canada, united kingdom, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.

Traders can not use octafx from united states.

Is octafx a legit company and regulated broker?

Octafx is a legit company registered in saint vincent and the grenadines. The EU entity is registered in limassol, cyprus and regulated by cysec. If you’re unsure whether a broker is a scam or legit company, you can always check out customer reviews online.

Is octafx a market maker?

No, octafx is a no dealing desk (NDD) broker and therefore acts as an intermediary between the trader and the real market. Octafx receives commissions from its liquidity providers for each transaction.

How do I delete my octafx account?

To delete your account, you will need to get in touch with the customer support team. Note accounts are automatically deactivated if you never deposit or sign in to them.

How do I open a copytrading account at octafx?

You can sign up and login to the copytrading account in a few easy steps. Once you login to your personal area, you can set up your copytrading profile and make a deposit to your wallet. You can also sign in to your new account using the android app.

Why was my octafx withdrawal rejected?

If you encounter a withdrawal problem, you will receive a notification in your email explaining the issue. Alternatively, if you need to cancel a withdrawal, you can do this within your personal area.

Does octafx offer any free bonus deals?

At the time of writing, octafx is not offering any free bonus deals, no deposit bonus deals or promo codes. There are other promotions available for non-EU clients. Make sure to check the bonus conditions before participating.

Is octafx legal in india and pakistan?

Yes, you can legally open an octafx account from 100 countries, including india, pakistan, singapore, ghana and the UAE.

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.

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.

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.

Octafx review – is octafx a good broker?

RECOMMENDED FOREX BROKERS

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Regulation & safety

The european brand of octafx operates via the website – octafx.Eu – and abides by the highest regulatory standards. It is owned by the cyprus-based company octa markets cyprus ltd which is regulated by the cyprus securities and exchange commission with a registration number HE359992.

Cysec is among the foremost financial regulators in the world and all brokerages licensed by it have to follow strict rules and are subjected to intensive regulatory oversight. This removes any unwanted risk in trading and guarantees that the client’s funds are safe and their interests protected by the respective laws. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by cysec entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. The compensation goes up to 20 000 euro per person.

Besides the european brand, octafx group also includes octa markets incorporated which operates via octafx.Com website and is registered in saint vincent and the grenadines. It offers a generous leverage up to 1:500, as well as the option of three account types and three different trading terminals.

Negative balance protection (NBP)

An immense advantage in trading with octafx is the fact that both companies of octafx group provide their clients with negative balance protection. This means that if your balance becomes negative due to stop out, the brokerage will compensate the amount and bring your account balance back to zero. We always recommend that readers invest only with brokers who provide NBP, so that there is assurance they many not lose more money that their initial deposit.

Trading conditions

The trading conditions offered by octafx are very attractive and much more favorable that the standard for the industry. Here are some of the highlights:

The minimum initial deposit is only $100, more than twice as low as the standard $250;

Extremely low floating spreads;

Flexible leverage with maximum levels which vary according to the regulation in each country the broker operates;

Negative balance protection removes the risk of losses exceeding the initial deposit;

Low-risk trading in micro lots available on all account types.

Readers have to keep in mind that trading conditions vary a bit according to the broker brand of octafx and the country where it operates. This is, again, a sign of octafx’s commitment to comply with regulatory standards.

Octafx.Eu trading accounts

Trading account	recommended deposit	max. Leverage*	spread (+ commission)	platform
conservative trader	€100	1:30	0.5 pips	MT5
progressive trader	€100	1:30	0.3 pips + $6 /lot	ctrader

Octafx.Com trading accounts

Account type	minimum deposit	minimum trade size	maximum leverage*	spreads
novice	$100	0.01	1:500	from 0.4 pip on EUR/USD
experienced	$500	0.01	1:200	from 0.2 pip on EUR/USD
progressive	$100	0.01	1:500	from 0 pip pips on EUR/USD

Trading platforms

Octa FX provides clients with two popular trading terminals that are sure to meet their expectations: metatrader 5 (MT5) and ctrader. The fact that the metatrader 5 trading platform is supported is something we always consider an advantage since the MT5 is among the foremost trading terminals in forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of expert advisors (eas).

On the other hand, the multi-asset trading terminal ctrader provides pure ECN execution and a wide selection of advanced tools. Among them are fast order entry and execution speeds, direct order entry via charts and level II pricing which all contribute to render the platform highly valued among the forex trading community.

Another advantage is virtual private server (VPS) which is offered to both new and existing clients for only $15 per month. VPS hosting allows the execution of orders 24 hours, 5 days a week.

The SVG-based company octa markets incorporated which operates via octafx.Com website, besides the MT5 and ctrader, also provides clients with the metatrader 4 so that clients of octafx may have a wider pick of their preferred trading platform, as well as a copytrading app which we always view favorably.

Promotions

By the time of writing this review, octafx provides clients with the following promotions:

Copytrading app which allows clients to automatically copy leading traders;

50 percent bonus on each deposit;

Free forex trading signals: autochartist which allows clients to follow automated alerts to open and close trades;

Status program; allows clients access to new benefits such as accelerated transfers, lower spreads, personal manager and many more at every new level

Keep in mind that trading bonus, copytrading app and other promotions may not be eligible for clients of octa markets cyprus ltd.

Methods of payment

Octafx supports the standard payment methods of forex, as well as a popular e-wallet. Clients of the brokerage may deposit or withdraw via visa, mastercard, bankwire, as well as skrill.

Furthermore, the brokerage does not charge any withdrawal or deposit fees which lower the cost of trading and only requires the formal 5 euro minim withdrawal amount for withdrawals via skrill.

Conclusion

Octafx is a reliable award-winning FX and cfds broker that offers pretty good trading conditions and has air-tight regulation. To sum up the above, here are the advantages and drawbacks with regards to this broker:

Solid regulation no significant disadvantages

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.