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OctaFX.com Review MT4 - MetaTrader Platform

Overall Rating: (3.586)
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Total Reviews: 124
Last Updated: 2014-07-24
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.

Njali Hutia, Assam, India

Rating:
Date of Post:2014-07-22
Review: I never face any problem with octafx since I started to trade. Every time I request for withdrawal they pay me. I think they are one of the genuine broker in the FX Market.

Ahmed, Amman, Jordan

Rating:
Date of Post:2014-06-29
Review: Avoid this broker. Once you deposit your money your balance will gradually decrease and there is no way to profit due to these reasons:

1- They freeze their platform when your deal are profitable. This will be obvious to you when you compare their number ticks to other brokers also their chart volatility is very low at the price that you assigned as "take profit", and this is happened to me multiple time and costed me a lot of money.

2- When freezing the price or platform technique isn't enough to scam you then they don't close your trade even when the market reach the take profit price and this is happened to me once and costed me some money.

3- If the two preceding techniques didn't work they use another scamming way which is: they suddenly have a slippage of ten pips.

I have used them for more than a year and I am very sure and have pictures from my account to prove that this broker is a scammer.
Their only advantages are fast withdrawal and low spreads but the three techniques they use make their two advantages useless.
 
Comment: Added by OctaFX Rep on 2014-07-04 03:03
  Dear Sir,
Welcome to FPA! The story that you shared with us is quite interesting. Please give me your account details, so I can give it a closer look, as I was not able to identify you. We simply don’t have a customer from Jordan with such name in our database.
Nevertheless, let me address your allegations:

1.With simple thought in mind that you trade with thousands other clients on the same platform, it is hard to assume that we “freeze” our platform whenever your trades are in profit and consequently damaging trading experience for all other traders. I understand that any software malfunctions or internet delays can be highly irritating, but I suggest that you check it on your end.
2.As I understood from your review you had a single trade that did not close at your take profit. This could be due to a liquidity issue or a technical error. Please do not hesitate to pm me with that order number and I will check it for you.
3.The last part is what makes your story extremely interesting for me. 10 pips slippage in regular market conditions is far below our platform performance. We strive to provide our customers with the best order execution. So, please share your account number with me and I will request our IT team to dig deep into this case.

Yours sincerely,
OctaFX Rep.

AZIM, Dhaka, Bangladesh

Rating: No Rating
Date of Post:2014-06-27
Review: I was looking for broker to invest and was observing reviews of many brokers. After reading all the post regarding OctaFX I have decided that its better not to open an OctaFX account. :(
Also the responses from the OctaFX representative here could not pleased me. Sorry for that and hoping that you will improve your service and stop any kinds of activities which can raise a question.

Kris, Riga, Latvia

Rating:
Date of Post:2014-06-26
Review: I've traded for about 5 month and didn't encounter any withdrawal issues so far. The rules are reasonable, execution good, hope you will improve more.

sami jase, jeddah, Saudi Arabia

Rating:
Date of Post:2014-05-27
Review: I checked in to the trading area of Octafx is good and easy for trading on moving period. Their platform is ok, I didn’t have a problem figuring out whats going on there, but after they gave me hard time when I tried to withdrawal I understood why people are not recommending them.
 
Comment: Added by OctaFX Rep on 2014-06-02 06:28
  Dear Sir,

Thank you for sharing your feedback! It is nice to know that you enjoyed trading with us. If you have any questions regarding your withdrawal request(s), please do not hesitate to contact our CS team.

Yours sincerely,
OctaFX Rep.
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Zaiour Rahaman, Bania khamar Road , Basupara Khulna, Bangladesh

Rating:
Date of Post:2014-05-25
Review: At present time in trading area Octafx is the best ever I seen because it is so much swift for trading on moving period.
 
Comment: Added by OctaFX Rep on 2014-06-02 06:25
  Dear Sir,

We are very pleased to hear that you are satisfied with our services. Thank you for rating us high!

Kind regards,
OctaFX Rep.

muhammad shoaib, attock, Pakistan

Rating:
Date of Post:2014-05-09
Review: i made some profit ,i made a withdrawal and they said your account has been accessed by a third party,and you are someone else,they told me that i'm not the rel account holder
they sent me this email
************************************************

OctaFX Customer Support
To Me
Apr 10

Dear Sir,

We have received an information, that your account MIGHT have been involved into fraudulent activity or accessed by third parties intending to do so. We have grounds to believe the documents provided for this account as well as its identity do not belong to the actual account owner.

This is not a statement, but an assumption, which requires investigation in accordance with of our Security Dept. requirements and policies. There is nothing to worry about; it’s a regular check, intended for your funds security and transactions' transparency first of all.

This is to let you know that in accordance with p. 13.9 and p. 13.12 of the Customer Agreement, namely:

13.9. To provide financial security for the Client in some cases the Company reserves a right to withdraw Client’s funds only to his/her bank account;
13.12. For security reasons upon withdrawal the Company reserves a right to demand Client’s complete identification data, such as ID copy, address proof copy, bank reference letter and other relevant documents, apostiled or certified by a notary.

Withdrawals and transfers are temporary disabled for your account. To enable them, please follow these steps:

1. Please prepare the following documents:

a. Personal ID/passport copy (all the pages containing records)
b. An address proof, clearly showing residential address

BOTH TRANSLATED INTO ENGLISH, NOTARIZED (OR CERTIFIED WITH AN APOSTILLE STAMP) BY A RESPONSIBLE GOVERNMENT AGENT.

2. Please send these documents (physically, by mail) to our HQ address at:

Cedar Hill Crest, P.O. Box 1825, Villa, St. Vincent and the Grenadines

We do apologize for any inconvenience you might have faced with.

Sincerely,
OctaFX

******************************************************

in their rules and regulation they which is 13.12

" 13.12. For security reasons upon withdrawal the Company
reserves a right to demand Client’s complete identification data,
such as ID copy, address proof copy, bank reference letter and
other relevant documents, apostiled or certified by a notary."

now i told them that i will send these documents via online and will attach the documents to email,but they said no i have to send these via mail to their postal address
i told them i agreed on the terms and condition and in those conditions they have not mentioned "physical copy",they used the word copy.they are just delaying the payments,just burning trader's profit
and even i told them to refund me my deposit,which are they unwilling to do so.they are scam to the traders who can make profits,you are a loser,they are the best for you.
 
Comment: Added by OctaFX Rep on 2014-05-15 12:59
  Dear Sir,

Our goal is to provide maximal safety of clients' funds and maximal transparancy in financial transactions.
In your case we need a solid confirmation that account is owned by a real person first of all. We also need to confirm that account is accessed by its rightful owner.
Please treat it not as an obstacle for your withdrawal request, but as our genuine care for your own funds safety.

Yours sincerely,
OctaFX Rep.

venjonk, seoul, Korea, Republic of

Rating: No Rating
Date of Post:2014-04-28
Review: Low speard. Fast free requote. . I like this broker. It's very useful.......

aynun nahar, Rangpur, Bangladesh

Rating:
Date of Post:2014-04-22
Review: i'm experience trader i have lot of experience hedge,scalping & swing.
Everything is sweet-able for this broker.
Also deposit & withdraw.
Awesome service.
Thank you octa FX.
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