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OctaFX.com Review MT4 - MetaTrader Platform

Overall Rating: (3.509)
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Total Reviews: 133
Last Updated: 2014-11-26
Special Notes:

Getting an 8 dollar welcome bonus is not a valid reason to leave a review.  Trade for a couple of months and leave a review based on how well things go with the broker.

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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 0   reviews REVIEWS submit review

FPA Review Moderation Team, , USA

Rating: No Rating
Date of Post:2012-02-21
Review: We haven't tried a forex trading account with OctaFX.com. If you've traded forex with this broker, please leave a review here.

sujon ahmed, bangladesh, Bangladesh

Rating: No Rating
Date of Post:2014-11-24
Review: Sir,i am open a account in octafx (Registered) Sep 2, 2012 .then verified my account .then I deposited and started trading with this brokers ,long time i happy trade in octafx.then i tell my every friends family members.i am and my every friends and my every family members trade in octafx long time.but 49 days ago i facing investigation problem. at this time not solve my problem.i am and my every octafx friends family members huge upset this mater.So please quick my problem.

Krzysiek, Ws, Poland

Rating:
Date of Post:2014-11-21
Review: I used scalping EA on heir acc due to low spreads , in first weeks everithnk was excellent but then their order fill became horible like hiden spreads biger than 5 pips!!

Jose Maria Alvarez, Madrid, Spain

Rating:
Date of Post:2014-11-17
Review: Must say I like octa fx. For a 1.5 year trading nothing to worry about. It is a lovely broker with the best liquidity one can wish. opefully they will stay as they are.

Amar, London, United Kingdom

Rating:
Date of Post:2014-11-16
Review: I trade with Octa for 5 month and have no problem with deposit or withdrawal. Once they delayed the withdrawal, but it was on weekend, and they customer service explained and handled my claim well. Thanks for cTrader, waited it for so long!

Vitorr, Karachi, Pakistan

Rating:
Date of Post:2014-11-07
Review: I love to trade with OctaFX, as they have the best trading platform cTrader, where i am able to trade smoothly with all my trading orders executed instantly without any frustrating quotes happening, so even if i try trading in news like NFP it is successful and also my long term problem of needing to remember the session where i am trading is solved, as it is now written below on the platform which makes it great for me. So i would give them 10/10 marks!
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Graham Mchendry, Dundee, United Kingdom

Rating:
Date of Post:2014-11-07
Review: Octafx are absolute scammers. I opened the bonus account for training purposes. I turned the $8 into a few hundred dollars and decided to make a sizeable deposit as I was impressed by the tight spreads . I was advised by my father who is a professional trader to test their withdrawal times before making a commitment to a broker that was not as tightly regulated as the ones he uses. CASHOUT DECLINED FUNDS CONFISCATED. The reason given was same Ip address as another account(the wonders of wifi) Anyway, why would a winning trader want to scam $8 ? Stay away from Octafx Ig Markets have made more commission from me this week than the few hundred stolen by these scammers
 
Comment: Added by OctaFX Rep on 2014-11-11 03:27
  Dear Mr. Mchendry,
Welcome to FPA!
Let me start with giving you a small advice – whenever you want to promote a certain broker, go directly to their review page or to the commerce zone.
I regret to hear that you were not satisfied with your OctaFX experience. However, let me remind you that by opening a welcome bonus account you agree to a number of rules and that those rules specify exactly how situation like yours will be handled. Whether it is a shared Wi-Fi network or a relative’s account – we cannot be there to check it, and thus we rely on the technical data we have.
Overall, I can see why you are disappointed, but I can’t find any logical reason for you to blame us.
Kind regards,
OctaFX Rep.

Dmitriy, Moskow, Russian Federation

Rating:
Date of Post:2014-11-04
Review: After a positive trade account sent the following letter.
***************************
Dear Dmitriy Ershov!
Access to your account has been blocked due to the following reason:

Service denied in accordance with the p. 3.10 of the Customer Agreement

Customer Agreement p. 3.10 declares the following:

3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons.

It means that the Company takes its right to discontinue services provided to you. The access to your Personal Area at our website is blocked and cannot be restored. In case you have any deposited funds left in your trading account(s), please email to [email protected] to apply for a refund.

In addition, we strongly recommend you to refrain from opening new accounts with the Company.

In case you disregard our recommendation, we will liberate the company from the responsibility for your actions,If you open another account with OctaFX, it will be blocked at the moment Company deems it appropriate and necessary, trades will be revoked, profits cancelled; we will also transfer all the third parties' commissions charged for transactions processing on your side. Such account(s) might be a subject of additional security checks including but not limited to requesting certified hard copies of the documents used to open an account and/or documents confirming your identity. In case such situation arises, we will handle it as if it had low priority which may result in delayed case resolution.

Best regards, OctaFX
***********************************
Companies do not need to earn traders. The company earns it the loss of traders. Draw conclusions.
 
Comment: Added by OctaFX Rep on 2014-11-25 05:19
  Dear Mr. Ershov,
We do not permit arbitrage trading and we state so in the Customer Agreement. Orders that rely on price latency arbitrage opportunities cannot be considered trading.
That is why your account was banned.
Sincerely,
OctaFX Rep.

Alfred, Lower Austria, Austria

Rating:
Date of Post:2014-10-28
Review: OctaFx is a big scam!!!!
I thought I give this company a chance, but unfortunately this was a mistake. I have been trading with them over 7 Weeks. I traded not a lot, I had winning trades and losing trades, not really much about 200-500 Euro.
But then I traded the NFP and made 2755 Euro, they accepted my trade and sent me a daily information.
But the next week they blocked my account, and said I make something illegal. They don't give me reason as I asked them, they just blocked my account and stole my profit.
For everyone how is profitable with this broker has no chance to withdraw the profit, if you make money they block you account!!!
This is not the sole complaint, if you check forexpeacermy and many other websites you can find many other reviews like this one.
 
Comment: Added by OctaFX Rep on 2014-10-29 06:20
  Dear Sir,

We banned you previous account and we wired you every single euro of your profit. However, you decided that assuming third person´s identity gives you a right to open another account with us. This time your deposit was refunded and your account banned. In full accordance with the Customer Agreement, that you accepted more than once.

Sincerely,
OctaFX Rep.

Armando J., Barcelona, Spain

Rating:
Date of Post:2014-09-25
Review: So far best broker for me. Trades are fast and no rejects like others do. Didn't use any bonus to be honest, so can't describe it. Spreads are great, not as great as promoted, but still very nice.
 
Comment: Added by OctaFX Rep on 2014-10-16 01:38
  Dear Armando,

Fast order execution and low spreads are definitely among traders’ top priorities. We are delighted to know that you enjoy our trading conditions. We also introduced a new platform recently and I encourage you to try it as you might enjoy it even more!

Kind regards,
OctaFX Rep.
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