OctaFX Review

3.007 · 260 REVIEWS
Updated: Aug 11, 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

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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3.007 · 260 REVIEWS
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Traders Reviews

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
 
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.
 
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.
 
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.
Nassau, Bahamas,
Jun 24, 2020,
Registered user

Bitcoin deposit not credited to my account wallet balance

I deposited bitcoins yesterday at 8am. The bitcoins was confirmed on the blockchain but an hour later octafx spent my bitcoins (they transferred it to a different bitcoin address resulting in a 0 balance on the blockchain.) My octafx wallet balance has still not been credited with the bitcoins.

Chat started on 24 Jun 2020, 11:52 AM (GMT+0)
(11:52:28) *** Vanissa Hill joined the chat ***
(11:52:29) Vanissa Hill: Hello
(11:55:44) *** Dem OctaFX joined the chat ***
(11:55:56) Dem OctaFX: Hello there! How may I help you?
(11:56:14) Vanissa Hill: $20.98 was deposited to my octafx bitcoin address yesterday at 8am. Why did octafx spent my bitcoins?
(11:56:29) Vanissa Hill: https://blockchair.com/bitcoin/address/1KqfB9vHyKp6iHyfFLuNQnjmA7yF76fZSA
(11:58:26) Dem OctaFX: We didn't spend your funds. THat is how blockchain workds
(11:59:08) Dem OctaFX: Could specify the amount you've sent ?
(11:59:29) Vanissa Hill: Visitor uploaded: deposit.png URL: https://v2uploads.zopim.io/2/B/S/2BSwZFi8TMdmXKoFZIU2CqTokOcaUn4P/a1ee7d0d3b1cee4da7aaccc064be36c35885619a.png Type: image/png Size: 67309
(11:59:49) Vanissa Hill: 0.00217669 btc
(12:01:34) Dem OctaFX: Thank you!
(12:01:55) Dem OctaFX: I've forwarded your request to our Fin. Dep. for investigation
(12:02:25) Vanissa Hill: What is the email for the finance department?
(12:04:35) Dem OctaFX: I've transfered all of the information to them
(12:05:44) Dem OctaFX: We've implemented a new security measure for BTC transactions recently, it's one of our release days. We ask you for understanding since it's a new feature and we will fix all of the issues as soon as possible. We will investigate this situation today and will do our best to deposit your account during the day. I am unable to give you a more specific time frame at this moment. I do apologise.
(12:30:04) Dem OctaFX: Is there anything else I can help you with?
(12:48:44) Dem OctaFX: Thank you for reaching out to OctaFX and have a great day ahead! Goodbye.
(12:48:47) *** Dem OctaFX left the chat ***
(01:23:39) *** Vanissa Hill left the chat ***
 
Reply by OctaFX Rep submitted Jun 30, 2020:
Dear Vanissa-Hill,

We regret to see that you've decided to leave us such a poor review. We hope that your experience will improve primarily because your deposit was credited not long after you spoke to our teammate Dem.

Kind regards,
OctaFX Rep.
Kepri, Indonesia,
Jun 21, 2020,
Registered user

100% best broker

Service use: Live

Length of use: over 1 Year

Sorry, i am cant speaking english.
Siapa yang bilang Octafx banyak tipu, saya disini sudah 5 tahun, sampai sekarang lancar. All fast respond, i am trust Octafx is the best broker. Semangat Octafx, yang review jelek itu pasti akun sampah.sure!
Very fast execution, no lag. Withdrawal in 20minute on localbank, this is very fast.
Banyak review tipu2 tuh, jangan percaya sebelum tau yang sebenarnya.
OCTAFX MAJU TERUS
 
Reply by OctaFX Rep submitted Jun 25, 2020:
Dear Pengguna Active,

Thank you for your enthusiastic and kind feedback. We're extremely happy to read that you've been trading with us for many years and that you're continuously enjoying our services. We hope this will continue for many more years to come.

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

Kind regards,
OctaFX Rep.

Bahasa Indonesia:

Yth Pengguna Active,
Terima kasih atas tanggapan dan antusias Anda yang baik. Kami sangat senang membaca bahwa Anda telah bertrading dengan kami selama bertahun-tahun dan Anda terus menikmati layanan kami. Kami berharap hal ini akan terus berlanjut untuk tahun-tahun mendatang.

Jika ada hal lain yang bisa kami bantu, jangan ragu untuk menghubungi kami.

Hormat kami,
OctaFX Rep.
Rid1,
Durban, South Africa,
Jun 15, 2020,
Guest

Cannot get withdrawals from same method as deposited

Service use: Live

Length of use: 0-3 Months

Hi be careful, tried withdrawing profit from my account and withdrawal method declined each time. Told to use skrill, netteller, bitcoin etc when they verified credit c. Be careful using credit card deposit, they then make u use more expensive withdrawal. Must be getting comms revenue from alternte pay methods
 
Reply by OctaFX Rep submitted Jun 30, 2020:
Dear Rid1,

We were unable to identify your trading account on our system. Could you please share your trading account details with us? We want to verify your review and understand what exactly happened in your case.

And please, rest assured that we have no interest in asking you to use alternative withdrawal methods, as we cover fees for all of them. We may ask you to use a different payment method in cases where your desired payment method may be unavailable or too slow to complete a request. We hope we'll be able to establish the reason once you share the abovementioned details.

Kind regards,
OctaFX Rep.
Jaron,
Auckland, New Zealand,
Jun 9, 2020,
Guest

Account locked, funds frozen - broker obviously in financial trouble

Service use: Live

Length of use: over 1 Year

I've been a client of OctaFX for 6-years.

On 25 May I received advice that a small withdrawal was declined on my account. With no formal notification from the broker until now, all I could find out was that my account was "under investigation and therefore all financial transactions are prohibited."

Two weeks later the broker concluded a one-sided "investigation" and proceeded to completely wipe out the profits on my account. Their findings say they do not permit the "High profit as a result of low order’s duration." [I had only made $1200]. They then blocked access to my Personal Area at their website saying that it "cannot be restored."

Be very weary of this broker. Obviously, OctaFX is market making and cannot afford to pay out profits to any client who makes some profitable trades.
 
Reply by OctaFX Rep submitted Jun 22, 2020:
Dear Jaron,

We're sorry to read your review.

Your account was under investigation as our Monitoring team detected activity in your trading account that was deemed suspicious and potentially in breach of our Customer Agreement.

During the investigation, our team analysed the totality of your account's transactions to determine if it was arbitrage trading, which is the only trading strategy forbidden by the OctaFX Customer Agreement.

Please, keep in mind, that only arbitrage orders were cancelled, and your initial deposit, as well as profits that were gained not as a result of arbitrage trading, were withdrawn in full.

Kind regards.
OctaFX Rep.
INDIA, India,
Jun 8, 2020,
Registered user

BIG SCAMMERS THERE BROKERS AND DEALING DESK VERY MUCH BIG TIME SCAMMERS ,

Service use: Live

Length of use: 3-6 Months

OCTA FX SCAMMED MY ACCOUNT AND WIPED OUT ITS ONLY FOREX WITHA SUDDEN DROP I HAVE ACCOUNT IN OTHER BROKERS BUT THEIR CHART SHOWS NO DROP THIS SCAMSTERS DROPPED THEIR PRICE SUDDENLY DURING MONDAY OPENING OF OF EUR USD I HAVE PROOF ,FUNNY FACT IS I HAVE OPENED BOTH BUY AND SELL ORDER SAME TIME TO SEE WHICH DIRECTION IT MOVES WITH STOP LOSS BUT THEY SUDDENLY DROPPED MY SELL ORDER 200 PIPS AND NO OTHER BROKER CHART WAS MOVING A DROP AT THAT TIME .AS YOU CAN SEE STOP LOSS WAS AT 1.29900 BUT IT STOPPED ONLY AT 1.29811Screenshot_2020-06-08-05-09-58-701_net.metaquotes.metatrader4.pngALSO IF U NOTICE MY TAKE PROFIT FOR SELL ORDER WAS NOT HIT , STAY AWAY FROM OCTA FX THEY ARE BIG SCAMMERSS

Jun 7, 2020 - 1 Star Sudden drop in price only in octa fx eur usd time frame and it didnt even hit stop loss

More. Community discussion of this issue >>

  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jul 2, 2020:
Dear Faz5555,

We believe you received a detailed account of what happened with your account from our team. However, we want our FPA community to understand what happened too. Hence, we wish to clarify that your stop loss order was triggered during a price gap and was executed by the first price after the price gap, as per our Customer Agreement which applies a special set of rules to pending orders executed during price gaps. Keep in mind that gaps often occur during major news releases when the market tends to be more volatile and on the start of a new trading day.

Also, please note that the time during which your pending order was triggered was 01:00 (server time) which is, in fact, a beginning of the new trading day that usually affects the market.

Between Friday and Monday, there is always a weekend break for symbols that creates a gap in the market. That's why you experienced this gap, and your stop loss was executed at the first available price after a gap - 1.12811. Moreover, stop loss could not be executed before the price gap because the market price has not reached its price at that moment. And after the gap, the first available price has already passed by the stop loss price, which means that its price was within the gap and we had to execute the order at the first available price after a gap. There is no way to predict whether the pending order's price will be within the price gap or not, and that's why it's impossible to close an order before the gap.

We hope this clarifies everything. Should you have any further questions, please don't hesitate to get in touch with our team.

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.