OctaFX.com Review Visit site

Updated: May 25, 2020
3.012 · 246 REVIEWS
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Other websites of this company include OctaFX.eu

About OctaFX.com

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.com

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

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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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3.012 · 246 REVIEWS
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Consumer Reviews

Kent, United Kingdom,
May 19, 2020,
Registered user

Watch out for bonus T&Cs

Service use: Live

Length of use: 0-3 Months

Many beginner traders are lured into brokers offering sign up deposit bonuses and while they might be a nice way of bumping up your account you should be aware of the terms and conditions. For example with OctaFX it is done on lots to trade so if you deposited $500 you would receive a 50% bonus of $250. The number of lots to release the bonus is therefore $250/2 so 125 lots. This is a massive number of lots and frankly many beginner traders will blow an account trying to release the funds.

Aside from the bonus nuances OctaFX have a decent number of assets to trade, offer decent leverage and are ok all round.
 
Reply by OctaFX Rep submitted May 21, 2020:
Dear sebking1986,

Thank you for taking the time to share your valuable feedback with us, we highly appreciate it.

Regarding deposit bonuses: we always encourage traders to check applicable rules. Also, we explain volume requirements simply because one will not be allowed to trade using bonus funds solely.

This promotion intends to help our traders open orders of a bigger volume, but assuming that it will help them profit. If a trader decides to claim a 50% deposit bonus, they should be aware that the scenario you described could potentially happen. That's also why traders can opt for smaller deposit bonuses of 10%, or 30%. We believe that your review will help new users understand how to use our deposit bonuses wisely. Thank you!

We hope you'll continue to enjoy our services, and if we can do anything for you, please, let us know. We'd be happy to help.

Kind regards,
OctaFX Rep.
uk, United Kingdom,
May 18, 2020,
Registered user

Pretty good broker but....

Service use: Live

Length of use: 0-3 Months

they don't have enough crypto trading for my liking. Spreads appear to be competitive and Customer Support was responsive which is a plus
 
Reply by OctaFX Rep submitted May 21, 2020:
Dear DaveT,

Thank you for taking the time to leave your review of our services. We're always happy to receive honest feedback, and we'll make sure to forward it to our team.

Thanks to users like you we can continue improving our services. Please, do not hesitate to contact us should we be of assistance.

Kind regards,
OctaFX Rep.
Thabang Eugene Mokoena,
Pretoria, South Africa,
May 16, 2020,
Guest

Scammed. I have been waiting for my money since Tuesday.

Service use: Live

Length of use: over 1 Year

Hi, since tuesday waiting for my withdrawals, i saw that you refusing to release them. i am aware that you are the market makers and you dont wana lose the money, but i was promised transperency, loyalty and honesty. so its my money i didnt just sit and relax i have spoken to dusupay, the havent received anything from you guys. while you told me lies that dusupay is the one that dont wana pay me. its you guys hou tried to play the market and tricks on me.

i want my money please. i am tired of your lies. i am not stupid. i can see you havent processed my money there yet. its still pending.

if it was through it was gon show a processed status then we can blame dusupay.

you becoming a scam sies!!!! this is a desgrace, thought you were suppose to be professional and pushing ethics. you cant pay me that small money.

or atleast put it back in my trading platform because you subtracted it there. please

W1162222 thats the withdrawal ticket.
Personal area :6085069
 
Reply by OctaFX Rep submitted May 21, 2020:
Dear Thabang Eugene Mokoena,

From what we can see, the withdrawal request you’re referring to (W1162222) was processed successfully. And we regret that something has caused you to feel this way about our services.

We’d be happy to understand what exactly happened, so please don’t hesitate to reach out to us here to share your experience in more detail. We can assure you that we do stand for all the positive things you mentioned in your post and we hope we can prove it to you.

Kind regards,
OctaFX Rep.
islamabad, Pakistan,
May 15, 2020,
Registered user

OCtafx should Be Ban it is a big Scamer with proof we have

Service use: Live

Length of use: over 1 Year

i was trading on EURusd And GBPUSD
earned 1700$ and after for some rest just went away from screen once i cam back what i see i was logged out i tried to login but i could not i just did my reset password what i see i have 2 standard lots open on Silver thats i never opened in my whole trading expeirance i never traded on silver on silver there is like 300$ spreat etc
i contacted Octafx that this happend they said password changed from you how its possible i do change password and started trading on silver and account washed
i ask them give me proof of device where its login or password changed and they never done this alway looting your money
if you are earning you will not stay long term on octa they will ban you if you are loosing they will send you plentty of stuff to help you customer support this and that
never trust on these there is a guy Sam in octa support he is a big fraud he will speak lies even he know he is lying but pretend to b well wisher i wish i could ban this broker from every country and get them in prison and refund the peoples money or all that money they have looted go back to charity do need your supports guys

Thanks

May 6, 2020 - 1 Star We are working with octafx since 2016 at start we was new to trading but now sure much to that we started with Octafx
we never understand why after our account wash price came to our favour but our account was washed
they said they have 15% margin call but they do close at 41% note they will close at 41% once the market is going in your favour
now they will ask me give account detail i know how they do deal with automated message they are big scamer
  1 trader has found this review helpful
Reply by OctaFX Rep submitted May 21, 2020:
Dear masterimran,

We wish to help; however, we’re unable to identify your trading account based on the information you’ve provided.

Please get in touch with us, and we’ll be glad to look into it.

To clarify in advance, we cannot change your password or access your trading account, as we do not possess your login details. To protect our clients’ accounts, OctaFX follows strict security and privacy policy protocols, making it impossible for us to make such changes from our side.

Kind regards,
OctaFX Rep.
islamabad, Pakistan,
May 14, 2020,
Registered user

Fraud broker

Service use: Live

Length of use: over 1 Year

Octa FX is a scam broker company based in Spain. They are CySEC regulated (License Number: 372/18). I have been using their services for 7 months based in Pakistan. On 17 March 2020, they closed my trades without any permission. The trades were closed in the negative amount due to which I loss $12600. I reached out to Rizwan (person who is my account manager from octa cell # 34902848528) and the support email they have provided to us. I asked for compensation because this action was taken by the company without my permission and decision. In return, they give me $100 compensation which is totally unacceptable.
the reason they give for closing my trades is the fake agreement that they created just before performing this action. This agreement is not shared when a user is creating an account on their website. This company is regulated by British FCA and I found this form on their website. Please let me know if this is a proper channel for the complaint. If not please direct me in the right direction on my email. This Scam company is making lots of money in this pandemic situation. Please take strict action and save the clients they are making fool of.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted May 21, 2020:
Dear Saddam Ahmad,

We regret the inconvenience, but please note that we acted according to the provisions of our Customer Agreement. When your trades were closed, the market began to show signs of evident instability.

Consequently, a decision to stop all deals was taken by our team to protect our users from substantial losses. Your trades closed by market prices, and you received a loyalty bonus. Your losses could not be fully refunded as it was a force majeure occurrence, and p.20 of the document mentioned before was applied.

Lastly, please keep in mind that we cover the losses of our clients by applying negative balance protection. Therefore, in the light of our Customer Agreement and the events around that time, we have every right to take actions that would stop our clients from exposure to unpredictable markets. We hope for your understanding, and if there’s anything we can do for you please, do not hesitate to contact us.

Kind regards,
OctaFX Rep.
Chennai, India,
May 6, 2020,
Registered user

Octafx scam - Eat my profit 74000$+

Service use: Live

Length of use: 6-12 Months

I was cheated by octafx, octafx eat my profit money 74000$+. I believe ForexPeaceArmy can help me in this case. I have all proofs with me. My account number 6058799.

On 25th March 2020 I made profit around 68000$+ on XAUUSD, I made a withdrawal request 3600$ and showed complete status, but after I made 55000$ Withdrawal request that 3600$ Request changed to pending status, than I ask to customer support they said some time it’s Take 3 days, I never get that 3600$ till date (I have trade history .html and .csv files contain this detail), the same day’s night I got whatsapp chat and call from Mr.tarun (IB) he talk nicely and congratulate me as “sir you made good profit” and explain about my gifts like android phone and ear pod etc... ( I have whatsapp chat history proof)

On 26th March 2020 I made profit on EURUSD than my account balance 74000$+, suddenly my account blocked, than they said investigation, arbitrage, TCD team, customer agreement.

On 9th April 2020. They just give back my deposit money around 600$ & After 2 weeks their XAUUSD chart runs on mt5. What this means?

Questions for octafx.com

1. You are using cysec license number for octafx.com but that license number only for octafx.eu. Why you are cheating traders while you are not regulated by cysec

2. Your so called arbitrage! Give evidence and prove my trade uses arbitrage strategy.

3. Your customer agreement p 4.8 said you can cancel only arbitrage orders. How you cancel all orders? Please prove with my trade history.

4. I come to know octafx.com is B-Book broker company (Mr. Tarun octafx IB confirms) Everything fine with your company until make profits, you are happy while clients lose their money because it’s come to your pocket directly, but while clients made profit you are not ready to give... but this time you need to give!

I ask ForexPeaceArmy admins and users to support and protect ordinary traders like me.

I am ready to produce all proofs from my side including trade history ( I download that before octafx delete )

More. Community discussion of this issue >>

  3 traders have found this review helpful
Gzira, Malta,
Apr 30, 2020,
Registered user

satisfactory

Service use: Live

Length of use: 0-3 Months

good range of assets offered

very good leevrage of 1:500.

slow on deposit landing at times but maybe an issue from my baking side (on occasion) I am not 100 per cent sure.

overall would reccommend
 
Reply by OctaFX Rep submitted May 4, 2020:
Dear Christina Ledger,

Thank you for taking the time to leave your review, as user feedback is vital for us. We are happy that you're overall satisfied with our services. Regarding your requests, we can look into them so that both you and ourselves can understand what's causing the delays in questions. Just reach out to us.

In any case, please do not hesitate to contact us anytime should you need any assistance.

Kind regards,
OctaFX Rep.
Makgaolane Komane,
Gauteng, South Africa,
Apr 28, 2020,
Guest

Good broker

Service use: Live

Length of use: 0-3 Months

I have traded with octafx first time and received my first withdrawal within same day today via bitcoin, I would like to encourage anyone wants to trade with octafx to do so no problems at all for me, probably I will stay longer with this broker, I thank you my withdrawal already in my bitcoin wallet, mwaah much love am excited...
 
Reply by OctaFX Rep submitted May 4, 2020:
Dear Makgaolane Komane,

Thank you for your enthusiastic feedback and kind review. We are delighted to learn that you're happy with what OctaFX has to offer. And just like yourself, we hope you'll continue to use and enjoy our services.

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

Kind regards,
OctaFX Rep.
melaka, Malaysia,
Apr 28, 2020,
Registered user

Good company ever Withrawal fast

Service use: Live

Length of use: over 1 Year

Very Good company

Withdrawl 4600usd juz arround 1hour the money bank to my bank account.

deposit no service charge
withdrawal no service charge

May 6, 2019 - 5 Stars so far so good, withdrwal to credit card no problem, pls be alert withdrawal to bank to malaysia, bank negara will block due to NEW government law in malaysia . all forex will be affect

Mar 14, 2019 - 5 Stars Nice broker, live chat respond super fast, withdrwal to credit card take 1.5 days, can be accept ! great

Reply by OctaFX Rep submitted Mar 22, 2019 Dear teamcity,

Thank you for all your kind words. We're pleased to read such positive feedback, as trader input means a lot to us. We will take into consideration your commentary regarding withdrawals to a credit card and will look for ways we can improve it.

If there's anything else you'd like to add please, do not hesitate to contact us! Similarly, if there is anything we can do for you.

Kind regards,
OctaFX Rep

Reply by OctaFX Rep submitted May 14, 2019 Dear teamcity,



Thank you for your valuable feedback. We're pleased to read that you're satisfied with our services and we will make sure to forward your input to our team.



If there's anything we can do for you please, do not hesitate to contact us.



Kind regards,

OctaFX Rep.
 
Reply by OctaFX Rep submitted May 4, 2020:
Dear teamcity,

Thank you for updating your reviews to show us that you're constantly happy with our services. We hope it will continue this way and if there's anything we can do for you please, do not hesitate to contact us.

Kind regards,
OctaFX Rep.
South Africa, South Africa,
Apr 23, 2020,
Registered user

OctaFX

Service use: Live

Length of use: 0-3 Months

My account with Octa FX is 4540641, i have requested a withdrawal of 63USD since today am still waiting for my funds, it have been days now, spoke with the support and was told my funds are already been processed, these doesnt make sense at all because my money already been cleared on my account but cant trace the state of funds if been processed.
 
Reply by OctaFX Rep submitted May 21, 2020:
Dear Mavhungu,

We’re sorry about the delay. Such situations can occur when the withdrawal status is awaiting a response, which means that we transferred funds from OctaFX to the payment system, but the transaction hasn’t been confirmed on their end.

We know that your withdrawal has been successfully processed, and we hope that this experience didn’t affect your overall enjoyment of our services.

If there’s anything we can do for you please, do not hesitate to get in touch with us.

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.