OctaFX Review

3.053 · 296 REVIEWS
Updated: Sep 20, 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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3.053 · 296 REVIEWS
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Traders Reviews

Bangladesh, Bangladesh,
Sep 5, 2021,
Registered user

They are not giving my withdrawal

Service use: Live

Length of use: over 1 Year

They are not giving withdrawal as they have said they gave fast withdrawal. ( Fist they have said they like this I've asked the FInance team to look into this for you, sir. ) the next day they have said that the withdrawal request has been processed. But still i did not got my payment. They are maybe a scam broker. They also dont have contact number only live chat also they dont know how to talk always copy paste like a bot. Every time you ask them a question they will gave you the same answer. They have stucked my 1300$. Please anyone who are investigate about these please back my money please.

My withdrawal id :- W3712493
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Sep 17, 2021:
Dear Forexpro2021,

We're very sorry your withdrawal took longer than you expected.

After looking into your review with our team, we've found that you placed a withdrawal request on September 3, and our Financial Department processed it on the same day. However, we wish to remind you that we ask to allow up to 24 hours for such requests to reach your account. That said, the payment provider completed this transaction on September 5, and our team has notified you via email.

We genuinely hope that your funds have reached you by now but if not, or you have any other questions, please get in touch with our team at support@octafx.com or social media, and they will be happy to help you.

Please note that our Financial Department works hard to ensure a fast processing time for all transactions. However, in rare cases, especially when they handle a high number of requests or circumstances beyond our control, certain hold-ups are possible. On such occasions, we may ask to allow up to three business days for the payment processing. Our Customer Agreement underlines it, which you're welcome to check in full on our website here: https://www.octafx.com/company/customer-agreement/.

Hopefully, this incident will not discourage you, and you could give us a second chance. We truly appreciate having you as a part of our community, and we can assure you that we'll do our best to improve our payment processing flow.

If there's anything else we can do for you, please let us know anytime. We'd love to hear from you.

Kind regards,
OctaFX Rep.
Allschwil, Switzerland,
Aug 26, 2021,
Registered user

Withdrawal

Service use: Live

Length of use: over 1 Year

I was always very happy with the services that Octafx offers, but suddenly the withdrawals are not processed anymore. I get the same excuses every day, but I still haven't seen any of my money. I do hope this is just a technical issue as they repeat to say, but I don't believe it anymore. How can this take so long?
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Sep 3, 2021:
Dear Traderhuhn,

Thank you for bringing this issue to our attention.

We're very sorry that your payment took longer than you expected. After checking your case with our team, we've found that a technical issue occurred at the time of processing indeed, which caused the overall delay. Unfortunately, it took a few days for investigation, but our team managed to complete the request by the end of last week. Also, one of our managers helped to handle your case personally.

We sincerely hope that your funds have reached you for now, but if not, or you have other questions, please get in touch with us at support@octafx.com or social media, and we'll be happy to help you.

Once again, we wish to state our regret and apologize for waiting. One of our goals at OctaFX is to provide a fast and smooth withdrawal process, and what happened doesn't reflect the services we aim to deliver completely. We do understand that waiting could be really frustrating and will make sure to improve our payment system to avoid such delays in the future.

Also, we'd like to note that our Financial Department process most payment requests on time. However, in rare cases, certain hold-ups are possible due to reasons beyond our control, and we ask our customers to allow us extra time for investigation on such instances. Nevertheless, you can rest assured that our team will always be happy to help you, so please message us whenever you have any questions.

We appreciate you being a part of our community and hope that this incident will not overshadow your overall expereince with OctaFX.

Our team is always here for you, so please reach out if anything.

Kind regards,
OctaFX Rep.
india, India,
Aug 26, 2021,
Registered user

deposit via local bank and failed

Service use: Live

Length of use: 0-3 Months

i did deposit with octa through their local bank detail and after 2 hours they reply that deposit had failed send us bank statement after 24 hours..i did.. than told me that wait for for another 24 hour for refund..after 24 hours one of their representative told me that u will receive your refund after 14 days if it will not reflect in 5 days to your mt4 account...their representative are incompetent and not giving proper answer...my question to octa, if u are taking 5 days for local deposit than why you suffer people like us...i also recommended to all general public that octafx is cheater and if they are not even focus on deposit and withdrawal properly and will take this much time for resolving issues than dont trade with such cheaters....at last his representative told me that wait for atleast 4 more days to clear this issue...if your financial team is that much efficient that they require 14days resolve the issue than you are outdated broker in forex industry...again request to all folks, dont open or trade with such frauds. those who wants transcripts of the conversation with their incompetent staff, feel free to message me in the forum.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Sep 3, 2021:
Dear mayur2047,

We regret the expereince you had depositing your funds.

After reviewing your case with our team, we've found that while processing your deposit, a technical issue occurred, and the payment failed to reach our account. Our team requested a bank statement from you, and once you shared it with us, your funds were added on August 27. Consequently, we hope that the issue was resolved, but please reach out at support@octafx.com or social media if you have any questions. Our team will do their best to assist you.

Once again, we want to state our regret and apologize that you had to wait longer. Please note that our Financial Department works hard to ensure that most payment requests are completed within a few hours. Yet, in rare cases, certain hold-ups are possible, and in such circumstances, we ask our customers to allow us up to 3 business days for investigation and payment processing. This is outlined in our Customer Agreement which you are welcome to read on our website here: https://www.octafx.com/company/customer-agreement/.

We genuinely hope that this incident will not change the course of your trading journey with OctaFX. Please note that you're an important part of our community, and we appreciate having you onboard.

If you have any other questions, please reach out whenever you can. We're always happy to hear from you.

Kind regards,
OctaFX Rep.
Ahsan,
Lahore, Pakistan,
Aug 12, 2021,
Guest

Worst Service

Service use: Live

Length of use: 0-3 Months

I made a deposit via local transfer and it got rejected after 4 hours, their customer service informed me that it was due to payment processing error and asked me to make another request, which I did. Now the whole day has passed and their customer support keeps giving generic answers that finance department is checking. I regret switching from my old broker to Octa thinking it will be better with local deposits.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Aug 17, 2021:
Dear Ahsan,

We're very sorry you felt you needed to share with us your feedback twice.

As mentioned in our other reply, we've looked into your review and found that, unfortunately, your first deposit didn't reach our account. Our team asked you to resubmit the request and payment proof, and after you did, we processed your deposit on the same day.

We hope that you have received your funds by now and the issue was resolved. Yet, if you have any questions, please get in touch with our team directly at support@octafx.com or social media, and they will be happy to assist you and address your concern.

Once again, we wish to state our regret and apologise that you had to wait for so long. This indeed doesn't sound right, and we'll take action to prevent such situations in the future. Please note that our Financial Department works hard to process everything on time, but certain hold-ups are possible in extraordinary cases. And we have to ask our customers to allow us more time for investigation on such occasions.

Nevertheless, you can rest assured that our team is always here for you, and they will be happy to help you as much as possible whenever you need it.

We hope this incident won't affect your overall experience with OctaFX and you'll continue to enjoy our services.

If there's anything else we can do for you, please, let us know anytime. We'd love to help!

Kind regards,
OctaFX Rep.
Pune, India,
Aug 10, 2021,
Registered user

RESOLVED - Octafx just wont give me back my money. outright theft of my 5700$ deposit

Service use: Live

Length of use: 0-3 Months

the issue is now resolved. they sent back the money after 1 whole week.

Funny how deposits are instant but their withdrawal process takes ages and will put you into depression & agony.
if you are doing business with OctaFX, i suggest you to not withdraw huge amounts in 1 go, do it piece by peice in small amounts. otherwise prepare for a complete nightmare.

Just avoid them altogether. 1/10. DO NOT RECOMMEND.

Aug 2, 2021 - 1 Star So i deposited 5755$ for trading into octafx. withdrew 55$ , i received that. i felt ok with trading now. traded with $5700, opened 3 trades gained around 115$ profit. when i go to withdraw the 5815$ amount, after a hour or so, they give a confirmation email stating that your withdrawal is complete..but even after 12+ hours, i have not received 5815$ in my crypto ETH wallet. i shall be attaching my order history, withdrawal status and etherscan wallet information.
go here : https://www.forexpeacearmy.com/community/threads/octafx-just-wont-give-me-back-my-money-outright-theft-of-my-5700-deposit-115-profit.70758/

experts here kindly take a look and help me.
Octafx if you're seeing this, just give me back my 5700$ initial remaining deposit, i dont care about the profits, you keep it. just give back my principal.
people here can also go to my ETH wallet and see i have only recieved 55$, and not received $5815 by going here :
https://etherscan.io/address/0xf14bbac0bee6dec23cc4b73aa9b14238f2469160

I have had chats with their live agents, all generic talk, and i fear they are just giving me the jerkaround with their financial department talk while pocketing my money.

More. Community discussion of this issue >>

  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
We are glad to hear that your withdrawal came through.
Reply by OctaFX Rep submitted Aug 17, 2021:
Dear Shikhar Kumar Singh,

We're sorry that you experienced a delay with your payment.

After looking into your review, we've found that a hold-up occurred at the time of processing, and your payment didn't receive enough confirmation to be completed on time.

We know that waiting could be highly frustrating, and we sincerely apologize for putting you in that situation. One of our goals at OctaFX is to provide a fast and smooth withdrawal process, and what happened is not the kind of services we aim to deliver.

Please note that our team is working hard to improve the payment system and reduce any delays. It's important to say that we don't want to let down our customers and genuinely hope that all future transactions will be processed quickly and efficiently.

Also, we want to thank you for letting us know that your issue was resolved. We appreciate the insight, and once again, regret that you had to experience such an unpleasant situation while withdrawing your funds.

If there's anything else we can do for you, please message us at support@octafx.com or social media. Our team is always here to help, and they will be happy to hear from you anytime.

Kind regards,
OctaFX Rep.
Dhaka, Bangladesh,
Aug 9, 2021,
Registered user

Octa fx cheated me, I lost my money

Service use: Live

Length of use: 0-3 Months

My Trading account number is 8638772. Octa FX is a Big Scam & Fraud one of the bad brokers please don't work with this broker. sometimes my trading does not close my SL point entry closing Far from my SL point About 100 pips away, Today I Open 2 trades on gold buy entry First entry 1761 or Second entry 1755 SL set 1746 But not entry close 1746~my entry close 1736, I complaint to there live chat but they don't care about their customers. Overall OctaFX cheated me not back my fund.
Beware with the. Octa Fx fraud company.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Aug 16, 2021:
Dear amfnulislam04u,

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

After reviewing your case with our team, we've found that your XAUUSD orders were executed during a price gap and closed by the first price after it. Our Customer Support team has given you a complete account of events in chat and explained what happened in your case.

Please note that price gaps may occur when the market is highly volatile, i.e. during major news releases or at the start of a new trading day. You may not see such gaps on the chart as they could be enclosed in the candle, and the price jumps in seconds. In such cases, we apply a specific set of rules which you can find in our Customer Agreement (p.11.2.3.). Thus, if a Stop Loss level is within a gap, your order will be executed by the first price available.

You can also check our entire Customer Agreement here: https://www.octafx.com/company/customer-agreement/.

Once again, we regret that your orders were unprofitable, but we hope that our reply helps you understand the matter better.

Don't hesitate to contact us via email at support@octafx.com or social media if you have any other questions. We'd love to hear from you anytime soon.

Kind regards,
OctaFX Rep.
Indonesia, Indonesia,
Aug 2, 2021,
Registered user

Everything wonderful til withdraw

Service use: Live

Length of use: 3-6 Months

Their support and service are OK, the gimmicks also great (eventhough it's been almost 1 month the voucher hasn't arrive yet,hope not some fake promise also, lol).
The fatal flaw I think is their 'hidden' rule about minimum transaction which not clearly state in the website, in their website they said no fee for withdraw, but when I want to withdraw the second time (the first withdraw went smooth, no fee and interview) my deposit after only few transaction (loss), their asked me to pay $320 or trading 15,4 lot for the $8000 my withdraw request, they said they are the cost for fee transfer and prevent money laundry, hmm ... I think thats sound familiar excuse for this broker in some forum, so I began very nervous.
My friend with below $500 account never have problem with withdraw anyway.
So after pay the $320 for withdraw fee, I need to rethink again use this broker, feel like casino to me. Its pity actually, I like you guys but I dont think your 'hidden' fee suit me, too expensive for transfer fee.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Aug 5, 2021:
Dear IlyasKhai,

Thank you for reaching out and sharing your experience with us.

We're very sorry that you had trouble withdrawing your funds. Unfortunately, we couldn't verify your complaint as you didn't provide your OctaFX account information. That said, we'd really appreciate it if you could get in touch with us directly at support@octafx.com or via our social media channels and share the relevant data. Our team is always here for our traders, and they will be happy to look into the matter and investigate what happened.

Taking this opportunity, we wish to state that we indeed don't charge any deposits and withdrawals fees. In fact, since OctaFX is an ECN Forex broker and we receive a commission for trading from our liquidity providers, we're able to cover these fees themselves. However, when our customers make large deposits followed by withdrawal requests without performing sufficient trading, we reserve the right to pass the said payment processing fees onto them. We hope this information clarifies your inquiry a little bit.

Also, we appreciate you taking the time to post your feedback, including your compliments about our team and services in general. We always try to be very attentive to our customers, and your response is what helps us constantly improve our services.

We're looking forward to hearing from you soon.

Kind regards,
OctaFX Rep.

FPA Forums Team Note: This reviewer did provide an account number. You should be able to see it while you are logged in as a site representative.
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.
  2 traders have 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 ???
  1 trader has found this review helpful
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.
  1 trader has found this review helpful
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.

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.