OctaFX Review

3.062 · 264 REVIEWS
Updated: Oct 16, 2020 · 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

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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3.062 · 264 REVIEWS
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Traders Reviews

India, India,
Oct 10, 2020,
Registered user

I only trust octafx for my carrier success. Thank you for supporting me

Service use: Live

Length of use: over 1 Year

Hello guys. I started trading in octafx. I only trust you. And I started my carrier in forex with octafx.. They providing great service.. And speed withdrawal and deposit. With no fakes.. I love you octafx.. Thank you so much for helping me and Indians. God bless you.
 
Reply by OctaFX Rep submitted Oct 13, 2020:
Dear Vamshichichu,

We’re happy to read such positive and kind words about us. Thank you for your trust and love. We genuinely hope you’ll continue to enjoy our services many more years to come, as we’ll work continuously to improve our services to make sure you stay satisfied.

If there’s anything we can do for you, please don’t hesitate to contact us. We’re always here for our traders.

Kind regards,
OctaFX Rep.
India, India,
Oct 7, 2020,
Registered user

Fraud Claims by Octafx India -Prize Lots claim gifts not honoured

Service use: Live

Length of use: 3-6 Months

Beware of this broker they shall not reimburse your prizes lots you collect after trading as commited by them . Once you have claimed your default gift vouchers in your account . They shall not add new gift vouchers to your account to claim your pending prize lots . Hence trade should claim prize lots regularly so that you dont lose on to the incentive .
Customer support shall not resolve your issue and give excuse of covid for non delivery of physical gifts which to some extent we can understand , however digital gift vouchers can be provided to traders to reimburse the prize lots .
i have 760 prize lots pending in my account to be reimbursed for prizes or gift vouchers as commited by the brokers. However for last 4 months i am getting answer for support team that it shall be done soon . There spending money on content and charity however they shall reimburse your prize lots once you are reimburse it regularly . Beware of this broker one day they shall stop withdrawal also once you start ing making huge profits. Not professional at all .
 
Reply by OctaFX Rep submitted Oct 15, 2020:
Dear Leo Joseph,

Thank you for sharing your feelings about our Trade and Win loyalty program. We’re sorry to read about your disappointment with the current gifts and vouchers, and we understand how you may feel about the lack of physical items in our Trade&Win shop. We wish to apologize for any inconvenience that this may have caused you.

Due to the current world events, some of the areas are in lockdown restrictions. Unfortunately, our warehouse was located in one of such areas. That’s why we’re unable to ship physical items, and replaced them with voucher option for the time being.

We would like to point out that other brokers don't provide any prize programs. However, we value our community and strongly believe that such promotions are important to deliver the most comfortable customer experience. We want to assure you that all the prize lots you collected will stay in your account and you will be able to spend them as soon as physical gifts are reintroduced.

Thank you again for bringing this issue to our attention. Don't forget that you can always reach out to us and we will be happy to help you out.

Kind regards,
OctaFX Rep.
Lagos, Nigeria,
Sep 9, 2020,
Registered user

Service use: Live

Length of use: 3-6 Months

I tried depositing money into my trading account but it did not go through and I was debited.
I tried contacting their support team but nothing has changed
 
Reply by OctaFX Rep submitted Oct 13, 2020:
Dear Demigod,

Unfortunately, we couldn't identify your trading account on our system. That said, we ask you to provide your account details to help us verify your complaint and understand what exactly happened.

As for deposit requests that weren't processed, please note that the system sends them back as auto refunds. There could be many reasons for such declines and we always ask our customers to contact us immediately to have the issue investigated with our Finance Department.

We're looking forward to hearing from you soon. We sincerely hope that by the time our reply is published, your refund is successfully completed.

Kind regards,
OctaFX Rep.
Rawalpindi, Pakistan,
Sep 6, 2020,
Registered user

A Serious Broker

Service use: Live

Length of use: 0-3 Months

Best withdrawls in about an hour , no questions asked .. Instant deposits and best spreads for major currency cross .. no spread manipulation even in news time and in market openings.. Customer support is excellent and respond fast to queries. If you know how to trade , you can excel with this broker.
Surprised and sad to read negative comments about this broker. I found them very honest . I added my account number so that it must be known that my review is genuine.. Arbitrage trading strategy strictly prohibited with this broker..
Try them you will really love them..
Happy trading and learn to take loss as well. Sportsman spirit...
 
Reply by OctaFX Rep submitted Oct 13, 2020:
Dear Richie Fich,

Thank you for taking out time to share your in-depth feedback. We're happy to know you're enjoying our services. Reading such positive words about our work is the best encouragement for our team and reminder that we're doing everything right.

Should you have any questions, please contact us anytime and remember that we're always here to help.

Kind regards,
OctaFX Rep.
Kuwait, Kuwait,
Aug 20, 2020,
Registered user

Service use: Live

Length of use: Have not used

Hello octafx.
After all hesitation i successfully open my account and deposited 5000inr to test the transaction on yesterday, but unfortunately the amount didn't credited in my trade account... the fall down from my first step of trading life.
 
Reply by OctaFX Rep submitted Oct 13, 2020:
Dear Ajeesh,

We regret to read that the issue occurred just as you started with OctaFX.

Unfortunately, due to reasons beyond our control, your request couldn’t go through the payment gateway, and as a result, it was an auto refunded.

The system automatically refunds every deposit request that failed to be processed. There could be many reasons for such failure, and that’s why we always ask our traders to contact our team immediately should it happen.

As it’s been almost two months since the refund and we haven’t heard from you since we can only assume that you successfully received it. If not, please get in touch with our Support Team to provide your bank statement, so that our team can look into it with our Finance Department.

We’re always happy to help, so please, do not hesitate to get in touch with us anytime.

Kind regards,
OctaFX Rep.
KERALA, India,
Aug 8, 2020,
Registered user

A FULL PROVEN SCAMMERS AND CHEATED ALL MY MONEY FROM THE DEPOSITED AMOUNT

Service use: Live

Length of use: 0-3 Months

HI EVERYONE, IF U WANT TO THROW OF YOUR SAVINGS TO A SEWAGE THAT WILL MORE BETTER THAN OPENING AN ACCOUNT WITH THESE FRAUDSTERS. THEY WANT US TO LOOSE AND TAKE OPPOSITE POSTIONS AND CHEAT YOU. THESE STUPIDS DONT WANT THIER CLIENTS TO WIN. ON MY FIRST DAY OF TRADING ITSELF THEY SIMPLY BLEW MY ACCOUNT BY THIS MALPRACTICE. BEFORE U OPEN AN ACCOUNT KINDLY COMPARE OCTAFX CHARTS WITH OTHER BROKERS REAL TIME CHARTS AND U WILL KNOW THE TRUTH. I CHECKED AND FOUND OUT THEIR FRAUD. OCTAFX ARE THIEVES RUNNING A BROKING OFFICE.... AM DOING THIS JUST TO SAVE SOMEONE WHO WILL NOT FALL IN THIER TRAP IN FUTURE...... MY CURSE WILL NOT LEAVE THESE BAS*****. ANYONE BEFORE OPENING AN ACCOUNT WITH THESE STUPIDS PLS DONT HESITATE TO CALL ME BEFORE SHALL EXPLAIN YOU MY HORRIBLE EXPERIENCE WITH THESE SCU******S
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Oct 13, 2020:
Dear Kiran Chand,

We’re sorry to read about your dissatisfaction with our services.

However, looking into your review, we were unable to find any complaints from you before your post here on FPA.

Therefore, we’d be happy to hear from you and understand what has caused you such upset while trading with us, by looking into your trading account.

We’d also like to take the chance to clarify that each broker has different trading conditions as well as a different pool of liquidity providers, that’s why comparing brokers might not always be the best practice. Moreover, ECN brokers, like OctaFX, are merely an intermediary between a trader and the forex market, so we’d never engage in the practices you’ve described in your posting.

Lastly, we’d like to remind you that we treat our customers with the utmost respect and expect them to address us in the same manner. Therefore please, refrain from using abusive words even if put in asterisks.

Kind regards,
OctaFX Rep.
Bhubaneswar, Odisha, India,
Jul 22, 2020,
Registered user

For Indian Traders Octafx is Best Choice

Service use: Live

Length of use: 0-3 Months

I have experienced smooth deposits and withdraw in Octafx Currently .No delay in Withdraw . Funds are in My Bank account with 3 to 4 Hours of withdraw request and the services are best. There is Nothing worry for the traders with Octafx.
 
Reply by OctaFX Rep submitted Jul 24, 2020:
Dear aryan13123,

Thank you for your insightful feedback regarding our services. We're happy to learn that you're satisfied with our deposits and withdrawals. We hope you'll continue to enjoy trading with us. And, if there's anything we can help you with we're always happy to assist.

Kind regards,
OctaFX Rep.
Karachi, Pakistan,
Jul 8, 2020,
Registered user

" Octa FX " reliable brokers for forex trading...

Service use: Live

Length of use: over 1 Year

OctaFx is the most trustworthy company which do not only give benefits to experienced trader but it also welcome beginners as well . I have been trading for 3 year and I found it the best among all . I highly recommend OctaFX to the traders .Your graph of earning would be raised If u will choose OctaFX.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jul 17, 2020:
Dear Zohra,

Thank you for your enthusiastic review. We're delighted to know that you've been with us this long and we hope you will continue to enjoy our services to the fullest. In case you have any questions, or need assistance please know our team is always at your disposal.

Kind regards,
OctaFX Rep.
Karachi, Pakistan,
Jul 8, 2020,
Registered user

Wonderful experience for using

Service use: Live

Length of use: over 1 Year

I am using the forex since last year. I have wonderful experience and learnt alot. Broker is providing speedy service for deposit and withdrawal and assist in order to resolve any issue.
 
Reply by OctaFX Rep submitted Jul 17, 2020:
Dear Muhammad Awais,

Thank you for your kind review. We're glad that you're happy with our services, and we hope it will continue this way. Don't hesitate to contact us in case you need any assistance.

Kind regards,
OctaFX Rep.
manmohan singh talwar,
gurugram, India,
Jul 6, 2020,
Guest

$100 poaching by the company

Service use: Live

Length of use: 0-3 Months

I deposited Rs.6000/- on 31st May 2020, From My Hdfc saving bank. account no.50100087322138 with reference no.IMPS-015221316456.
Please check the entry and credit my account 12013125 at the earliest.
I have sent 10 reminders to the company with the proof, but every time they say. PAYMENT NOT FOUND.
Company OCTAFX simply cheat me and they gallop my hard-earned money.
My Submission. Beware with the. Octa Fx fraud company.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Jul 17, 2020:
Dear manmohan singh talwar,

We looked into your complaint and found out that your deposit requests couldn't be located according to the proofs you've provided.

We want to help and to do so, we'd recommend that you send your statement in a PDF format to our customer support team so that we can locate the payment.

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.