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OctaFX.com Review MT4 - MetaTrader Platform

Overall Rating: (3.617)
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Total Reviews: 117
Last Updated: 2014-04-17
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.

N P APARNA RAJANALA, KAKAINADA, India

Rating:
Date of Post:2014-04-16
Review: OCTAFX is a very good,profitable and tension-free Forex broker I ever saw.Excellent client support,instant activation of deposits.
Fine withdrawal system above all Honest executions and no requote system.
I thank one and all of Octafx admin.

vontog, , Czech Republic

Rating:
Date of Post:2014-04-10
Review: http://www.octafx.com/ Scam
Do not trust these morons!

As long as I just make a profit with them everything was OK.

I was even allowed to withdraw like $30 via Skrill.

Today I made withdrawal $100 via Skrill and it was rejected for no reason, twice.
I got reply I should use bank account for withdrawal, while I deposit via Skrill
And in their own email where they request me to withdraw via bank account there is a sentence:

Acknowledge: RE: OctaFX - withdrawal request no. W102097 declined (Ticket# LTK1215802373155X)
"Please note that you can only withdraw from your account by the same means that you used for depositing it"

And I did deposit via CC. Of course I do not have any bank account connected to OctaFX so I can't withdraw

So be aware of this scum.
 
Comment: Added by OctaFX Rep on 2014-04-14 12:50
  Dear Sir,

Thank you for your feedback!
I regret that you didn't enjoy our services. However let me point out a few things that may appear unclear to you, in order to insure the complete understanding:
-We abide by AML policies and by Visa/Mastercard policies and therefore we apply simple rule for the withdrawal of funds that were deposited by a credit card - bank wire transfer.
This is done for the funds safety and to ensure that we withdraw funds to the owner of the credit card.
-You don't have to "link" your bank account to us. All you need to do is to create a regular withdrawal request and let us know your bank account details.

I hope you will find this information useful.

King regards,
OctaFX Rep.

jalu, bandung, Indonesia

Rating:
Date of Post:2014-03-31
Review: the reason why you have choice octafx for trading,:
1. good service
2. fast server execute
3. give deposite bonus
4. give welcome 8$ if you register
so what are waiting for.....???it's great.....

wontuno, , Indonesia

Rating:
Date of Post:2014-03-30
Review: Tried the welcome account, been an active client in 3 months (real and demo) and thought the best broker so far to me. But recently their servers get more lags frequently. If another 2 month still ahead experience the issue, I'll move from here.

Marc, FRANCHE-COMTE, France

Rating:
Date of Post:2014-03-25
Review: Hello all traders Octa FX is a big scam be careful and let me explain you :

When you open a new fresh account with a small deposit, a new name and email all is good : good spreads without commission, no slippage , good execution time. You trades like if you were in demo it is awesome on the beginning !

After some days or when you start to win a lot or want to deposit more or want to withdraw they start to apply to all your wining trades about 2 pips slippage . Before 99% of orders are closed without any slippage . I think they are using any kind of MT4 plugin to add slippage to all your orders except the losing one of course.

Example : if you set your tp TO 3 pips they will close it to +1pips only
If your Stop is set to -2 pips they will close it to -2 pips (so no slippage )
if you have a trailing stop and that your stop is set at +3 pips they will stop you at +1 pips
You understand?
When you ask them they just say that it is the market and that you accept slippage in the Customer agremeent on their website !

I have proofs of that on many verified accounts. I can gi investor access to FPA.

So the solution for me was to ask my brother, girl friend etc... to open a new account on their name to get back good trading conditions without slippage : and it worked they got no slippage on their account for 1/2 weeks !

But when they wanted to withdraw octafx said that they might be a scammer using many fraud accounts !

They were not scammers i just opened new accounts for my girl friend and her sister and his boyfriend !

They say i have to send translated in English documents with apostille to get my money. The cost of it is about 200/300 euros to get back only 170 euros on my account so it is worhtless !!!

Yesterday i opened a new account for my brother.

It was his first account he was not a new Customer and they just disabled my account (trade is disabled in MT4 expert tab and impossible to log in OctaFX Customer Area : account is blocked) before he could open even one trade on it !

They said to my brother that is was because of the article 3.2 of the Customer agrement : they have the right to stop the service to any Customer at any time ! It is really a scam my brother did not even open any trade and the account was fully verified and funded before !
They hopefully said that he would get back his deposit but they did not say why my brother could not trade and why his account was blocked !

Be carefull because if you are successfull OCTAFX will eat your profits and deposits or will not accept to verify your account or will not accept you to withdraw !

It is a very big scam and hard to fight because they say everytime that it is in their custmer agrement and that you have accepted it on the signing up !

Here is what i want :
My brother want to get back his deposit
The sister of my girlfriend want to get back her 140 euros back without paying for apostille and translation in English of her documents that octafx fully verified and accepted before
I want to get back the right to open a new account and to get the good trading commission without the slippage after some days and profits !

Best regards
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Raquel M., , Andorra

Rating:
Date of Post:2014-03-25
Review: I have been trading with this broker since early 2012 and I can say that their service has improved a lot since then. At first there were problems connecting several times, but I can not remember the last time it happened. I have accounts with several brokers as I like to divide my investments and I operate serveral indexes Octafx not offer. But I prefer to trade with Octafx because their spreads and trading conditions. Overall, I´m glad I found this broker!

Wittgenstein, Germany, Germany

Rating:
Date of Post:2014-03-11
Review: Had really good fills in the beginning trading the news. But after 2 good fills my execution started to delay up to 7 seconds. Now it doesnt matter when i trade. I will be executed after 7-8 seconds. So either they have the worst LP you can imagine or they are running a B-book.
To be fair I have to say that their spreads are some of the best I have seen.
 
Comment: Added by OctaFX Rep on 2014-03-14 12:06
  Dear Sir,
Thank you for sharing your feedback! I am pleased to hear that you enjoyed our spreads.
We offer several data centers for our live servers. Please contact our support team regarding your execution speed. They will try to help you to pick one which will be the fastest for you.
Yours sincerely,
OctaFX Rep.

Adwan pamungkas, Jakarta, Indonesia

Rating:
Date of Post:2014-02-28
Review: I say I like octa because trading services are unmatched like no other broker. If compared to other brokers, they are the best. Trading for 9 month now, never seen single requote and always fast and responsive. good job, good service, good quality. Deserves 5+ rating!
 
Comment: Added by OctaFX Rep on 2014-03-06 12:52
  Dear Sir,

We are very pleased to hear that you are satisfied with our services. We hope to continue as your favourite retail broker!

Best regards,
OctaFX Rep.

rangarajan, , India

Rating:
Date of Post:2014-02-26
Review: First their SWAP FREE Accounts,
I was opened a swap free account in Octafx and trade with them. In SWAP FREE accounts swaps will not be added. But after few days, I closed my orders they were added commission. The commission is same as swap. But it is invisible in MT4 untill, I close my orders. I ask them why swaps are added in the name of commission in swap free accounts. They replied cool, swap free accounts made for Muslim religious and their is no difference between swap free accounts and other accounts. This is first cheating. They advertise swap free accounts available in Octafx is only attract the clients. The SWAP FREE accounts are fake.

Second thing their re-quotes.
They are said the accounts are not re-quotes. But, the pending orders opened with re-quotes in the name of started/gap. ie. the buy stop orders were opened with higher price and sell stop orders quoted opened with lower price from the quoted price. Also sell limit orders opened with lower price and buy limit orders were opened in higher price. It causing the profit and give loss to the traders. This is one type of cheating with re-quotes.

The third big scam.
Their ib programs. The ib rates are vary with the no. of clients. also they give $15. for the ibs those who have more than 100 clients. All the brokers are earning money in the pip difference only and they give IB commission less than the pip difference. ie. the broker earn 10$ for one lot with one pip difference pair.(This is average). In the 10 $ they will give 5 $. It is possible to give. But in Octafx many pairs having less than one. So they will earn less than 10$ per lot. But they give 15$ IB commission, for the IBs those having morethan 100 clients. In this condition, the excess amount to give IB commission will be coming from where?. This shows they will attract more clients with attractive announcements and close the website after getting t a big money from them.

But, I don't think about the above conditions, I was trading with Octafx for past 3 months with an IB. The IB transfer the IB commission on every monday. Until last week (ie.16.02.2014) i got the IB revenue from that IB. So, I traded more lots in last week with high tension of mind same as previous trading and expect to receive my IB commission on Monday. But on Monday (ie.24.02.2014) I can't get my IB commission. I contact my IB, why I am not received my IB commission. The IB told Octafx remove your account from my IB due to hedged trading, so I am not unable to transfer money to your account. What a big scam, I traded last week as well as my previous trading. They gave IB commission until last week. But this week they are updating their rules for IB commission ie. hedged trading will not eligible for IB commission. I accept their update, but they can't give information about that update. If they are genuine they gave the earned money and giving a information about the trading strategy will not accept for IB commission in future. How we believe this type of cheaters. If after earning more money they with hold the profit by updating their rules, what can we do?.

2014-02-25 1Star Octafx is a big scammer. They want earn money only from the traders. They are not also ECN. Big Scam Market Maker. Especially, their SWAP FREE accounts, ib the SWAP FREE accounts the swaps are added in the name of commission on daily basis. The only difference between Swap free accounts and ordinary account is the swaps are invisible in the name of commission. Another thing is their ib. The spreads are some pairs lower than one pip . ie. Their profit is 10$ per lot. But they give $15 for ib commission for the ibs having more than 100 clients. How it is possible?. Also the change their rules after trader earned money. They can’t said their trading terms before trading, they also tell about their trading terms after earned some money and can’t give the profit.
FPA moderation team, please confirm all the reviews supporting to Octafx. Because all the reviews will be write for the Octafx word it out review contest. Also give a scam alert to Octafx, because thay change their rules simultaneously against traders after they earned profit.

FPA moderation team once again request you to give scam alert against Octafx, because many more traders choose their brokers with reviews from FPA reviews. Thank you

Review Moderation Team Note: All reviews are screened. It is possible for some fake positive and negative reviews to slip past. It is possible that some real reviews get rejected. Moderating reviews is not a 100% perfect process.

FPA Scam Findings are usually based on FPA Traders Court complaints. The first steps before filing one are to leave a 1 star review and to open a thread in the Scam Alerts folder.

Comment: Added by OctaFX Rep on 2014-02-26
Dear Sir,
Welcome to FPA!
It is becoming trendy to post false accusations in here. The fact that we apply commission to swap free accounts is written at the account creation page purposely to avoid any controversy. In our Customer Agreement we also state this fact and even provide a calculation. It’s just a few lines, give it a try.
Our customer service team is there for you 24/5 in case you find it incomprehensible.
Since neither you nor I are shareholders, I’ll put the profit distribution policy off the table. IB’s are our partners and it’s up to us to decide how much we reward them.
I am absolutely sure that OctaFX never did “change their rules after trader earned money”. The fact that we do not give you profit is also absurd. Let’s call it misunderstanding? However if it is not the case, I urge you to contact our support team and provide all the data.
Kind regards,
OctaFX Rep.
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