Advertisement
Advertisements

OctaFX.com Review MT4 - MetaTrader Platform

Overall Rating: (3.341)
Get code for your site
Total Reviews: 163
Last Updated: 2015-05-18
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.

Click here to join live discussion of OctaFX.com on our forum
Advertisements
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.

Arief purwanto, Jakarta, Indonesia

Rating:
Date of Post:2015-05-12
Review: no pay my profit just reject, octafx make no sense reason.
anyone can beware with this broker, they use hard requirment for a lot profit, so think again with this broker

Al Moataz, Cairo, Egypt

Rating:
Date of Post:2015-05-08
Review: Octafx one of the best brokers in the Forex market , I have tried many brokers.. They have excellent customer service support and they solve your problem at once..They give you bonus on trading, tight spreads and easy withdrawals.

I have been with them for three months now everything is going perfect.

2015-04-03 5Star I have been with Octafx, really great broker, low spreads, bonus on trades.. Fast withdrawals.. I am surprised to find bad reviews.

2015-02-18 4Star Very good withdrawal process, better than expected.

Fast and secure, friendly and helpful customer service.

2015-02-14 4Star Just to update :

I passed verification process with OCTAFX,

actually trading with OCTAFX is really smooth, very low spreads, and I am going to double my small account 10 USD.

I have not try to withdraw yet, I am gonnna update soon.

2015-02-03 2Star I did not try trading with OCTAFX, but their verification process is really poor. They rejected docs two times however I used same docs with many brokers and payment systems (Skrill )

f this is how verification process that means that withdrawals would be the in same unprofessional way,

Comment: Added by OctaFX Rep on 2015-02-09
Dear Al Moataz,

Thank you for your feedback!
It is unfortunate that you felt dissapointed with our verification process. Please note that we have to know our clients and we are also interested in making the verification process as fast as possible. As I can see from your profile history, your verification was completed right after you submitted digital photos of your documents.
Since you deciced to stay with us and started to trade, I hope that we'll have a chance to change your first impression.

Kind regards,
OctaFX Rep.

Pirjo Riihimäki , Hämeenlinna , Finland

Rating:
Date of Post:2015-05-08
Review: Last 4 months have been particularly satisfying for me. Their pricing is the best I've tried. There were a few issues with their bonus, when it was released with a delay. But I still rate them 5 stars.

wajid, Karachi, Pakistan

Rating:
Date of Post:2015-04-30
Review: I am doing the tradings with this broker since December 2014. I am not new in this market but have a 5 years old experience in this market. I changed many many brokers because of unfair brokerage but I can see this is the only one excellent broker. Fast execution, nice service, and true STP broker. The only problem is to not do the news tradings by pending orders because then you will mostly get the loss. This is the thing which sure me to give 4 star to this broker rather to 5 stars

Aldo, Semarang, Indonesia

Rating:
Date of Post:2015-04-28
Review: Like some others who disappointed, i also got bad experiences. At first they never give me problems since i made small profits but once i started to get profits around 100% or more in a night, they banned my account and asked for verification for reason that should be a problem long time ago (if it's really the problem) but they didn't do anything until recently.

I chose to not sending my verification because i'm more afraid that my private data being misused. And recently i can't login to Personal Area for unknown reason eventho i didn't do any trading. I won't say scam tho since they allowed me to take my initial deposit (which is their way to save their self).

Lastly, replying / commenting to this won't change anything, I'm here to give my negative review from what i have experienced since i have moved to more reliable broker (higher spread tho).
 
Comment: Added by OctaFX Rep on 2015-05-08 05:12
  Dear Sir,

You admitted yourself that account is used by a third person, which is prohibited by our Customer Agreement. Also, the issue described is related to the account opened under another name. No wonder that both accounts got suspended and that our security department requested notarized copies of the documents used for accounts verification.

Sincerely,
OctaFX Rep.

Advertisements

Thomas Ganang, Jakarta, Indonesia

Rating:
Date of Post:2015-04-27
Review: Frequent spikes stopping me out. Couldn't access funds when attempting to make withdrawals. Excuses from customer service. 100% scam!
 
Comment: Added by OctaFX Rep on 2015-05-08 04:57
  Dear Sir,

Please state your account number, I am very interested to look into it. Especially since we have neither a customer with such name nor issues described. Until the account number is provided I consider this review a dull attempt to damage Company’s image.

Sincerely,
OctaFX Rep.

Mohammad Jahidul Islam, Dhaka, Bangladesh

Rating:
Date of Post:2015-04-18
Review: OctaFX is a Real SCAM !!

Traders invest their money to make profit. Some can make or some lose. I am trading at forex market over 3 years. I had many accounts at other brokers, but the real scam I found is OCTA.

Traders create account they verify. Then we deposit- 50 to 1000 $ for making profit. If we lose the account is good condition but if we won and make profit 200 to 600 %...

1. Disable our account.

2. Add hidden spread.

3. Lock profile and ask for papers mail normal mail and offer to back the deposit, not profit !!

4. They delete all account details with trading history containing profit.

5. Give a SL with big GAP 3 or 4 pips and close the profitable trade.

6. They give a Therapy to their support- as they always tell you is chat-

http://prntscr.com/6uqufh

http://prntscr.com/6uqvox

They locked thousands of account last 1 year by showing this kinds of reason.

AC- 245138 (disabled account trade and omit history asked for physical attention to their office)

AC- 244281 (disabled account trade and omit history asked for physical attention to their office- blamed scalping as arbitrage)

AC- 244863 (disabled account trade and omit history asked for physical attention to their office- blamed scalping as arbitrage)

I can give you another 50 to 100 account details they done the same.

OctaFX- you think you are TARZAN & live in a jungle- anybody can't find you. You will suffer for what you are doing with customers money.

SCAM.......! SCAM.......!! SCAM.......!!!

Stephen, Johannesburg, South Africa

Rating:
Date of Post:2015-04-14
Review: Can someone please tell me what varification documents do OCTAFX really want.? I have submitted scaned ducuments twice (BANK STATEMEND, CREDIT CARD STATEMENT and bank letter as proof of address plus my ID) and they were both declined. First time, they wanted them in colour format and I did so and got declined. Second time, they said I should take the picture of my documents with a cell-phone. I mean really, whats the difference, if they are still the same documents. I went on to open three other accounts with different brokers with the very same documents and they never had any problem with them. Anyway, I like OctaFX for thier low spreads. I just wanna know what kinds of documents should I submit and in what format.
 
Comment: Added by OctaFX Rep on 2015-04-17 06:56
  Dear Stephen,

Sorry to hear that you were confused with our verification process. We require documents that can confirm your identity and residential address. Sometimes, the scanned versions of the documents do not meet our quality requirements and we request a digital photo of the same document. To put it simply, digital photo is the best and quickest way to verify your profile.

It is great that you like our spreads! We hope that you’ll enjoy our service.

And thank you for the feedback!

Kind regards,
OctaFX Rep.

David Roux, Johannesburg, South Africa

Rating:
Date of Post:2015-04-13
Review: In reply to the OctaFX rep.

Listen, what do you take us for idiots ?
I am not the only trader you have done this with, why not go look at the FPA forum SCAM ALERTS FOLDER, it is full of traders complaining about your slippage tactics, some with videos, screenshots and journaled proof, which I also have by the way.

Of course I can understand slippage in the market I have not been trading since yesterday but having each and every trade slipped with 20+ points even ones I made hours from when it first started happening is just plain thievery both OPEN and CLOSE is evidence enough of meddling.

I tell you what.

I will fund my account with another $ 100 and you leave it alone and let it trade successfully without ANY interference from your "Technical Dept" except for the acceptable market slippage which is as we all know is NOTHING like the SLIPPAGE some traders have been experiencing from OctaFX, we expect maybe 1 to 2 trades with slippage at most during High Volatility periods especially on EURUSD with high liquidity and maybe 0.3 to 1 Pip which we can live with NOT EVERY TRADE WE MAKE.

Funny thing is my friends account has been humming along quite nicely without ANY slippage doing the exact same trades at the exact same time I did and it is still running although a small account it is still growing.

Allow this and I might change my opinion about OctaFX, until then my review stands, is it really worth it ? It could land you guys in deep trouble.

2015-04-07 1Star I have an account with OctaFX and been trading with them for some months now all was good and although I am probably the worst trader on the planet I have been working on an EA that is actually very profitable.

The EA starting doing its job and I have a friend also at OctaFX running the exact same EA. We are both using a VPS in Germany as to make use of the best latency we can get for the EA.

When the EA started making profit on my account even though I have lost thousands manual trading all of a sudden my account started experiencing massive slippage while my friends account did not !!

OctaFX support simply said it was acceptable slippage, now I ask you how is it possible for two accounts doing trades at the exact same time from the exact same VPS server running the exact same EA, one experiencing slippage and the other not.

OctaFX is a SCAM broker simple, I have all the proof needed, screenshots, log files etc..

All OctaFX said is they will refer it to their technical dept. bah !!!

I will definitely take this further as this is unacceptable. People are being scammed and their money stolen. That being said I expect OctaFX to reverse all my trades and refund every last cent, how can I be sure of all the trades I have done have not been tampered with, stop hunting spread manipulation etc. all trades are in question now. If they are willing to scam traders for a few hundred $ what is to say they did not tamper with every trade I made ?

Comment: Added by OctaFX Rep on 2015-04-10
Content: Dear Sir,

Let me start by saying that I feel really sorry when a customer ends up so disappointed. It is a pity that after having several trades slipped a few pips on a particular day you start to doubt more than a 3 months history of your trading with us. We’ve tried to explain to you how market execution works. However, let me do it again: each order is executed by the price there is liquidity for. MT4 only displays the best price from the pool of the prices that exist at the very same moment. It is quite natural when one order is executed at one price and another order is executed at a different price, even though these orders had same volumes, entry prices, etc. No one can guarantee that your order will be executed exactly at the requested price. Overall, after reading your review here and your chat logs with our CS representative, it feels like you are disappointed in your performance and the industry itself. That can happen sometimes but it doesn’t mean that we did something wrong.

Sincerely,
OctaFX Rep.
Show reviews per page | Next page>>
Sort:
Advertisements