OctaFX Review

3.124 · 291 REVIEWS
Updated: Jul 27, 2021 · OctaFX.com  · Is this your company?

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.

OctaFX
Other websites of this company include OctaFX.eu, OctaFX.net, Octapk.net, OctaFX.pro.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $5
Established: 2011
Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent And Grenadines
Contact: +44 20 3322 1059
Regional offices:
Regulators: CySEC #372/18, SVGFSA #19776
Prohibited countries:
Trading platforms: MT4, MT5, cTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (25+)
Cryptocurrencies: (3) Bitcoin, Litecoin, Ethereum
CFD: (10+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
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

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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.


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3.124 · 291 REVIEWS
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Traders Reviews

Tiruppur, India,
Jul 15, 2021,
Registered user

Best Broker in all.

Service use: Live

Length of use: over 1 Year

I am trade with OctaFX from last one year.I am satisfied in this broker.I recommend ,those who interested in Trading..their Deposit and Withdrawal , bonus is awesome. You can earn money ,if you have experience in trading.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jul 27, 2021:
Dear Philip Zacharia,

Thank you very much for such a great review. We really appreciate you taking the time to share your experience with us, and we're happy to know you loved trading at OctaFX. Our team works hard to meet your expectations, and they will be glad to see your feedback, too, as it's a great reminder that we're on the right track.

Make sure to follow us on social media to stay up-to-date about our new offers and promotions, and recommend us to your friends. We'd love to continue providing our service to awesome customers like you, and if there's anything we can do, please get in touch with us anytime.

Kind regards,
OctaFX Rep.
pakistan, Pakistan,
Jul 2, 2021,
Registered user

Worse Broker in the world

Service use: Live

Length of use: 0-3 Months

trust me guyz this is one of bad broker .. plz dont work with it ..
his staff is so uneducated .. they mis guide so much
3rd can u imagine there button of create new account is under risk score and in hidden form ??????? seriously their management is sleeping ??? sometime i saw bugs below website .. how is it possible is it real broker ????????or scam ???
a broker which cannot make a good website and cannot check and not even easy to understand for experienced trader . how it can be easy for new comers ???
online support never apologize they hide their broker and online suppor team erros /issues /mistakes/ i made huge loss due to their mis guide and bad manners ..
go to their master account area .... and then if u can find how to create new account .. then its chellenge to u .. u will not find lolz... becoz so much hidden is this a joke ???
 
Reply by OctaFX Rep submitted Jul 14, 2021:
Dear fxloser,

We're very sorry to read about your dissatisfaction with our services. Unfortunately, we couldn't verify your complaint since you didn't provide your account details or any comprehensive information about the issues you mention in your review. As you're not pleased with our Customer Support team, we suggest you send all the relevant information via our social media accounts.

Please note that we appreciate our traders' feedback, whether positive or negative, and we always look into ways to provide a better experience based on our customers' recommendations and suggestions. If you're willing to share such feedback, we want to encourage you to be more specific and point out certain things about our website and Copytrading application that, in your opinion, need to be improved.

We're looking forward to hearing from you soon, so please message us whenever possible.

Kind regards,
OctaFX Rep.
Chiang Rai, Thailand,
Jun 25, 2021,
Registered user

Leverage

Service use: Demo

Length of use: Have not used

I am trading cfd's like US30. In their chat, they told me leverage for cdf's is 1:500. However in their accounts for MT4, its listed as 1:50.
 
Reply by OctaFX Rep submitted Jun 28, 2021:
Dear frodo77,

We're very sorry to read that you have been misinformed about the maximum leverage for indices.

This definitely doesn't sound like the services we aim to deliver here at OctaFX. You can rest assured that we'll certainly take your feedback into the most serious account with our team and ensure it will never happen again in the future.

Speaking of leverage for indices, you can claim the maximum up to 1:50 for US30 and other indices. Please visit our website to learn more about trading account types, their advantages and the leverage available for each one: https://www.octafx.com/accounts-comparison/.

If you have other questions, message us anytime on our website live chat or social media.

Our team is always here for you, and we'll be happy to help whenever you need it.

Kind regards,
OctaFX Rep.
Petaling Jaya, Malaysia,
Jun 18, 2021,
Registered user

Fixed rate and bonus is nice

Service use: Live

Length of use: 6-12 Months

The bonus is meant for you to deposit more and if you lose they will get more. But that doesn't matter. Because if you lose it is your fault. OCTAFX is good and spreads are good as well. The only question is on the website it says...0.7 for EURUSD but I see it is always 0.9 in MT4...
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jun 28, 2021:
Dear ichimaru8989,

We appreciate you taking the time to send us praise and share your satisfaction with our community.

Regarding your question about the difference between spreads, it could be explained by a slight delay that happens while updating quotes on our website as they come up a bit later than on our trading application. That said, we highly encourage you to check the spread on the application first to keep yourself fully up-to-date.

Taking this opportunity, we'd also like to touch upon our deposit bonus promotion. It's intended to help our traders open orders with higher volume. And once you meet your bonus requirements, the bonus will be added to your balance funds. However, if your equity becomes less than the bonus, it could get automatically cancelled. Please check the applicable rules on our website or contact our team for more information.

We hope you'll continue to enjoy our services for years to come, and if there's anything else we can help with, please contact us anytime.

Kind regards,
OctaFX Rep.
Islamabad, Pakistan,
Jun 14, 2021,
Registered user

Octafx not allowing withdrawals

hi

I requested a 200usd withdrawal request to my bank account but got rejected with the reason my bank has rejected request which is very strange my bank is allowing deposits but rejecting withdrawals , I am also using another broker and never have they given me such a stupid reason. there claims we are giving quality service i think is only till u keep depositing as soon as u ask them for withdrawal they start making excuses. highly disappointed and will take this at every forum and will make sure people know about this. that these guys are not sincere with there clients. if a company is rejecting 200usd withdrawal think what they will do if u make an extra ordinary amount.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Jun 28, 2021:
Dear Amirz,

We feel incredibly repentant to read about your dissatisfaction with our services.

Unfortunately, we couldn't identify you on our system as you didn't provide your trading account details in your review. That said, we'd really appreciate it if you could send us this information directly on our website live chat or social media. Our Customer Support team will be more than happy to look into it and investigate what exactly happened.

We wish to state our regret and apologize if there was any misinformation about the rejection reasons. However, at the same time, we'd like to note that, in rare cases, bank transactions could get cancelled due to specific reasons, and we have to handle such instances with our Financial Department to understand what could go wrong. In light of this, we highly encourage you to contact us after reading our reply and share the relevant details so we could investigate the matter.

We're looking forward to hearing from you anytime soon, so please don't hesitate to message us whenever possible.

Kind regards,
OctaFX Rep.
Lagos, Nigeria,
Jun 9, 2021,
Registered user

Copytrading is so bad

Service use: Live

Length of use: 0-3 Months

If you guys say that you offer copytrading then you need to offer a quality feature that everyone can use. I strongly disappointed with your copytrading, you see it's so RAW. You need to add a lot of functions to make it suitable and to add statistics to find who to subscribe.
 
Reply by OctaFX Rep submitted Jun 18, 2021:
Dear Vinfred,

We regret to read about your dissatisfaction with our Copytrading application. As you didn't specify what features you want to see on the app, we'd really appreciate it if you could contact us directly and share your thoughts. We make many changes based on our customers' suggestions and recommendations, and we're sure your report could help us improve our application and its functionality.

Despite your dissatisfaction, we wish to touch upon some of the features that you might find to be of an advantage. Primarily, the fact that our platform is designed for those who do not wish to trade Forex themselves. Main capabilities allow you to study Master Trader profiles based on their expertise level, commission type, or minimum investment. As we aim to present more information about traders, you can also find their trading history, profit and loss data, and recent copier changes. Most recently, we've added the risk score feature that allows you to choose a Master Trader based not only on their profit but also on their strategy, and we hope our customers could find it to be of help, too.

This information is just a fraction of what our Copytrading application features. If you find anything unsatisfactory, please get in touch with our team via our website or social media, share your feedback about what we should add or change, and we'll be more than happy to look into it and consider it for our future updates.

Don't forget that our team is constantly trying the make the app better, and your opinion could greatly help us.

We're looking forward to hearing from you anytime soon.

Kind regards,
OctaFX Rep.
Mangalore, India,
May 31, 2021,
Registered user

Octa fx cheated me, I lost almost $165

Service use: Live

Length of use: 0-3 Months

My account number is 18421316.0I think octa fx is a fake company because when I was trading two weeks ago on octa fx, I was going to lose my trade. For that, I decided to deposite Rs 1500, but it did not come into my octa fx trading account except it is from my bank account. Waited for sometime nothing happened so I again I deposited Rs 1500 because I don't want to loose my money, there is no chance for loss if I have more dollors in my account but same thing happened again, that amount also didn't deposited to my octafx account And in a short time, I lost all my money what I had in octa fx. Because of the amount I have accumulated, I have lost all the money I had in my octa fx account.My bank officers said that the amount has been successfully deposited to octa fx. The octa fx costomer care's advisors are saying that it did not come into your octa fx account because of technical difficulties.If there is no transfer of cash due to any technical difficulties, such cash should be credited to my bank account within a week but now it's after 2 weeks my cash is not yet credited to my bank. Looking at all this I realized that octa fx knowingly kept my payment as pending,it seemed to be cheating me, the cash should go into my bank account in a week if there is any technical difficulties,But 2 weeks have passed and my cash is still not up to my bank, about which octa fx customer representatives are answering. Looking at all this I realized that I had not taken into account the amount of cash I had made, it looked like I was cheating.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jun 18, 2021:
Dear jafar sadik sk,

We're very sorry to learn about the negative experience you had depositing your funds. Unfortunately, while checking your case with our team, we've found that after we transferred funds from OctaFX to the payment system, a technical issue occurred, and these transactions haven't been confirmed on their end. Our Financial Department is currently working on solving this, and we'll inform you as soon as we have any news. Meanwhile, please message us directly whenever you have any questions, and our team will be happy to assist and update you with the latest.

Once again, we wish to state our regret and sincerely apologize that your payment requests weren't processed on time. At OctaFX, our goal is to provide the most convenient trading experience, and what happened doesn't wholly reflect the services we aim to deliver. Our Financial Department works really hard to ensure that all payment requests are processed within a few hours. However, in extraordinary situations, such as this one, certain delays are possible, and if such matters occur, we ask our customers to allow us extra time to understand and fix the issue.

Please rest assured that after our team thoroughly investigates and resolves it, we'll take all the necessary actions to prevent such issues from happening again in the future. We also hope that this incident won't affect your enjoyment of trading with OctaFX, and you could give us a second chance. We highly appreciate you being a part of our trading community, and your voice and support are important for us.

Don't forget that our team is always here for you, and we'll be happy to hear from you anytime.

Kind regards,
OctaFX Rep.
Negeri Sembilan, Malaysia,
May 26, 2021,
Registered user

Its better than what I used to.

Service use: Live

Length of use: over 1 Year

[I didn't remember but used almost 2 and a half-years)
Usually I did use some brokers but there's a lot of issues going on lately,

Example like, bad bonus system, delay on market execution, weird spreads and sometimes payment deposit issues, which I usually happen.

Here, Instant/Manual Deposit system, 10 min to 2 days withdrawals, good spread, risk/reward bonus system, and best part is:

"RM3.00 = 1USD" account is absolute recommended for new trader. even like me.
And "Trade-And-Win" allows you to get items for free (if you reach Pips required), and mostly were very necessity for forex and cloth quality is decent.

Support system is very helpful and friendly on solving issues, like where I suddenly had to withdraw via VISA rather than usual direct to Bank Acc.

I have not experience any single issue like below here, fortunately.
The only issue is some currencies were kinda high-spread, like exotic currencies and any currencies that doesn`t involved USD pair. Crypto-USD pair spread was fine, its not really expensive, only visual side looks like expensive.

And also the bonus system is wierd or probably me, if your equity hits more than credits, your trade will be automatically stop-out/cancel bonus.
(But to be fair, there's a grace point where they given 10-15 seconds whether movements were stay the same or not, so its ok.)

Recommended.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jun 14, 2021:
Dear murut87,

Thank you so much for taking the time to share such insightful feedback about our brokerage. We genuinely appreciate your voice and support, and we're sure our team will be excited to hear it, too, as they work hard to provide assistance to everyone, and your words are a great reminder that they're on the right track.

As for the spread, please note that it may increase due to two reasons: high volatility in the market or low liquidity due to out-of-hours trading. We suggest you start trading and open orders in regular hours to avoid a higher spread.

We'll also be happy to help you understand better how our deposit bonus works if you contact us directly on our live chat or via social media.

Please remember that our team is always here for you, and we'll be happy to assist anytime you need it.

Kind regards,
OctaFX Rep.
Solanki Ghosh,
India, India,
May 22, 2021,
Guest

I lost my diposited money in octafx

Service use: Live

Length of use: over 1 Year

I have diposited money in octafx. But money is not showing in my octafx diposit accout. I lost my money. Octafx scam. Dont invest in octafx
 
Reply by OctaFX Rep submitted May 27, 2021:
Dear Solanki Ghosh,

We profoundly regret to read about what happened. Looking into your review, we've found that an issue occurred while processing your payment, and it was automatically bounced back as a refund. Since you already reached out on May 24 to let us know that your funds returned, we can assume that the issue was resolved simultaneously. However, please message us directly if you have any questions, and we'll be more than happy to help.

Once again, we wish to state our regret that you had to deal with such an issue and wait for your funds. It goes without saying that waiting could be highly frustrating, and we understand that. Please note that our Financial Department is working hard to ensure that all payments are processed on time. Nevertheless, certain holdups are possible with bank transactions, and it may take a while to investigate such matters. That said, we always ask our customers to contact us directly in similar cases or with any questions and allow us extra time to look into them.

We sincerely hope that this incident won't impact your satisfaction with our services and that you'll remain an essential part of our trading community.

Please consider sharing your detailed feedback directly on what else we could do to improve your experience, and please increase your rating here.

We appreciate your support and will be happy to hear from you anytime.

Kind regards,
OctaFX Rep.
Pakistan, Pakistan,
May 15, 2021,
Registered user

Withdraw through bank are too late

Service use: Live

I made a withdrawal request of $160 on octafx to bank account to pakistan .it's been 5 days but still no sign of money everytime I contact they read same script.they made me bleed on Eid festival
Here's withdraw request number W2787549,and don't say I didn't contact you before I did almost 20 time but everytime same script here is the querry number #4598306 & 4608493 & 4589857 & 4589437 & 4588171 .do you see how many times I have contacted.Im not saying octafx is bad broker it's good broker and I know I will receive withdraw but should be effecient to withdraw via bank account.
Regards
Zain ul abdien
  1 trader has found this review helpful
Reply by OctaFX Rep submitted May 21, 2021:
Dear abdienzain411,

Appreciate you taking the time to share your positive feedback about OctaFX and bring this question to our attention.

We're very sorry to read about your dissatisfaction with the payment processing times. After looking into your review, we've found that your payment was delayed due to the national holidays that took place around that time. Regrettably, that affected the bank's working hours, and your withdrawal was processed slightly later, on May 16, the day after you left this review. Since you already let us know via email that you received it, we believe that the issue was resolved simultaneously. If you have any questions, please contact us directly, and we'll be happy to help.

Taking this opportunity, we want to note that our Financial Department is doing their best to ensure that the processing time doesn't exceed 24 hours. However, in rare cases, certain hold-ups are possible, especially with local bank transactions, as after such a transaction is sent, our team has to wait for a confirmation from the bank's end. Please, if your payment request is taking longer, we highly encourage you to contact our Customer Support team first. They're always here for you and will be more than happy to look into it and will keep you up-to-date about your payment requests.

Speaking of your experience with our team, we will most certainly improve the communications aspect you brought to our attention and ensure the assistance you receive will be more sufficient.

If we can be of any assistance please, do not hesitate to contact us. We're always here to help.

Kind regards,
OctaFX Rep.

Frequently Asked Questions

Is OctaFX regulated?

OctaFX is regulated in Cyprus and Saint Vincent And Grenadines. Their regulatory licenses are:

  •  CySEC (Cyprus Securities and Exchange Commission): 372/18
  • Saint Vincent And Grenadines FSA(Financial Service Authority): 19776

Is OctaFX a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if OctaFX is a good broker. https://www.forexpeacearmy.com/forex-reviews/8757/octafx-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent OctaFX community discussions: https://www.forexpeacearmy.com/community/tags/octafx/.

What is the minimum deposit for OctaFX?

OctaFX allows different minimum deposits for different account types. The minimum deposit spectrum is:

  • Micro account on MT4 is $100
  • Pro account on MT5 is $500
  • ECN account on cTrader is $100

What is OctaFX?

OctaFX is an online forex broker. Octa FX offers access to some financial markets to be traded with, including:

  • Forex Currency Pairs
  • Stocks Indices
  • Cryptocurrencies
  • Precious Metals
  • Commodities
The above assets can be traded on several trading platforms, like:
  • MetaTrader 4
  • MetaTrader 5
  • cTrader

How do I deposit into OctaFX?

To make a deposit, follow below steps to get it done.

  • Log in to your Personal Area
  • Switch to the account you would like to deposit at the top of the page
  • Select the payment system you would like to use under the Deposit my account section on the right
  • Enter the amount you want to deposit
  • Click "Continue"
  • Fill in other information if required and click "Confirm"

What leverage does OctaFX offer?

OctaFX offers laddered leverages, like 1:1, 1:5, 1:15, 1:25, 1:30, 1:50, 1:100, 1:200, and1:500 on MT4, cTrader and MT5.

Be aware leverage can amplify your losses or profits, be very careful to select the leverage that fits your trading appetite and risk tolerance.