OctaFX Review

3.103 · 292 REVIEWS
Updated: Aug 3, 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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3.103 · 292 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

melaka, Malaysia,
Mar 1, 2021,
Registered user

Excellent with this broker withdrawal very fast

Service use: Live

Length of use: over 1 Year

i have using this broker years , and the withdrawal super fast , it takes 2hours time then u will see the bank debited . if u withdrawal on friday , then monday afternoon u see the money in . great broker

Apr 28, 2020 - 5 Stars 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.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Mar 3, 2021:
Dear teamcity,

We really appreciate the fact that you take the time to send us praise, as we love to hear from our happy traders. That’s why we wish to thank you for keeping this tradition of updating your feedback about our brokerage alive. We couldn't be happier to read that you're as satisfied with our services now as before, and we will make sure to share it with our team as well. Please keep up the good work trading at OctaFX, and we will keep on providing you with the most convenient trading experience.

If you'd like to give us your thoughts on what we could improve, please send us a message at any time. We'll be more than happy to hear from you and look into your feedback.

Kind regards,
OctaFX Rep.
Malaysia, Malaysia,
Feb 22, 2021,
Registered user

Service use: Live

Length of use: 3-6 Months

I open account OCTAFX October before that time I have bad review I was thinking there scammers and they didn't pay
But reality is dramatically changed
I trade OCTAFX for 6month whenever I order withdraw I get less than 3hour sometimes in 2minute when it takes longer time is 6 hours
I never seen any broker like them

But if you want to see all of this thing I tell you you must fallow some steps

First you must make deposit bank account or wallet you owned created the same name you use OCTAFX you pay out as fast as I get

This my own experience that I seen OCTAFX I don't know others but I this they getting the same I get

Regards : Mohamed Hassan abukar
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Mar 3, 2021:
Dear Hassan abukar Mohame,

Thank you so much for taking the time to write such significant feedback about our brokerage. We're glad to hear that your experience at OctaFX has improved over time, and now you're enjoying trading with us even more. As a matter of fact, we're sure our Financial Department will also be thrilled to hear your feedback as they work hard to make sure payments are processed fast.

We'd love to hear from you directly, so if you have any other feedback or questions, please reach out to us anytime soon. Our team is always here for you whenever you need it.

Kind regards,
OctaFX Rep.
KPK, Pakistan,
Feb 18, 2021,
Registered user

OctaFx charging swaps fees on Islamic accounts.

Service use: Live

Length of use: over 1 Year

This is a new case in our group that Octafx charging swaps on the Islamic account.
when our group member checks his account status on the OctaFX website, this was, "This account does not imply any swaps, fixed fees, or other trading commissions, including the percent-based ones, and meets all requirements of Islamic finance".

But there were swap charges on the client's account. and the account was swap-free at the opening time.
Details are here,
Account 311602
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
151449863 2021.02.17 04:41:27 buy 0.01 usdjpy 105.933 0.000 0.000 105.906 0.00 0.00 -0.03 -0.25
----------------
In some cases, OctaFX is a scammer and in some cases, OctaFX is a trusted broker. Our group is facing both cases.

Feb 15, 2021 - 5 Stars ID: 118603
ORDER: Basic Android smartphone
DATE: 27.01.2021
I am so happy today I receive ViVO-Y11, Medium fast delivery to Pakistan. ViVO-Y 11 is good mobile but OctaFX should send the latest model of ViVO Y-Series.
(Broker's reputation is an important factor in this case.)

Reply by OctaFX Rep submitted Feb 17, 2021 Dear dolner87,

Thank you for leaving a review with such a high rating. We’re happy to see our users sharing their feedback with us, especially to find out that they’re pleased with OctaFX’s services. We're inspired to hear you received your prize in a timely fashion. As for the phone model, we'll pass your suggestions on to our team, and they will be happy to look into it. Please, if you have any other recommendations or feedback regarding your trading experience at OctaFX, we'd love to hear from you directly.

Our team is always here for you, so don't hesitate to send a message.

Kind regards,
OctaFX Rep.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Mar 3, 2021:
Dear dolner87,

Thank you for letting us know about the issue. We deeply regret to hear about the false swap charge, and this indeed doesn't sound like the service we're trying to provide here at OctaFX. After looking into your review, we've found that some technical issue occurred, causing the swap charge. At a later time, our team informed you about the reimbursement, and after an investigation from our side, you were compensated. Consequently, we hope we resolved the matter, but if you have any questions, please contact us anytime.

We want to apologize for the experience you had and remind you to contact us directly whenever you need to troubleshoot. Our team is always here for you, and they will be happy to look into potential issues and answer all your questions. We'd also appreciate it if you could contact us to share your feedback and hopefully increase your rating of our services here on FPA once again. We're always trying to improve the app and make possible changes based on our customers' suggestions and recommendations. And your rating here is a great incentive for our team to keep making it better.

Looking forward to hearing from you soon.

Kind regards,
OctaFX Rep.
mumbai india, India,
Jan 12, 2021,
Registered user

i have deposited 50000Rs my account debited netbanking

Service use: Live

Length of use: over 1 Year

my octafx userid:bhavik11200@gmail.com
account no.4077832
i have deposited 50000Rs through indian netbanking.My account is debited 50000Rs.I chat with customer care n they told me to wait 90 minutes and after that they say transactioned failed and told me to wait 24 hours.i showed thrm all proof.still they not credited my account
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Jan 22, 2021:
Dear bhavik11200,

Thank you for taking the time to reach out and share your experience with us. We deeply regret that you experienced trouble depositing your funds. After looking into your review, we can confirm that an error had occurred before your payment was processed. Our Financial Department is currently investigating it, and we'll make sure to keep you updated throughout the process.

Please note that there are many reasons why a transaction could fail. And in cases where your payment was unsuccessful, it’s essential to contact us as soon as possible, as it might require a thorough investigation by our Financial Department. We want to assure you that you shouldn’t be discouraged, as we’re certain that our team will be able to locate the payment and resolve the issue you’ve experienced.

We appreciate your patience and please, remember that you can get in touch with us anytime to receive an update on the progress. We’re always happy to help our customers and provide them with the necessary information.

We hope that this issue will not affect your overall experience and you’ll enjoy trading with us once again.

Kind regards,
OctaFX Rep.
Lagos, Nigeria,
Jan 1, 2021,
Registered user

Summary of my Experience

Service use: Live

Length of use: 0-3 Months

DISCLAIMER: This review is not to state that OctaFX is the best broker in the world. I've traded with a lot of brokers and never had problems with any of them, with respect to deposit and withdrawals.

Herein are the list of transactions that I did on my account with OctaFX. It has the ID, time the request was created, and the time it was processed.

DEPOSIT
Deposit ID 4703156
Created Dec 27, 2020 03:23 PM
Processed on Dec 27, 2020 03:50 PM

WITHDRAWALS
Withdrawal ID 1930065
Created Dec 30, 2020 11:51 AM
Processed on Dec 30, 2020 12:17 PM

Withdrawal ID 1927033
Created Dec 29, 2020 08:00 PM
Processed on Dec 29, 2020 09:42 PM

Withdrawal ID 1920756
Created Dec 28, 2020 05:53 PM
Processed on Dec 28, 2020 09:43 PM

Withdrawal ID 1919630
Created Dec 28, 2020 03:09 PM
Processed on Dec 28, 2020 03:24 PM

SUMMARY:
I made the deposit to their GTB Nigeria account, and made withdrawals to my GTB account. This might be the reason why I never had issues with them.

I'll advise traders to ask them [OctaFX] questions when they have issues, and be ready to hear and understand.
  2 traders have found this review helpful
Reply by OctaFX Rep submitted Jan 15, 2021:
Dear elusakin,

Thank you for such great feedback. We appreciate you taking the time to share it with our community and giving us one more reason to be proud of the work we’re doing with our team. We’re sure they will be excited to read your review, too, as they do their best to ensure fast and secure payment services.

Please send us a direct message if you have other questions or suggestions. Our team is always here to help, and we'll be more than happy to chat whenever you have time for us.

Kind regards,
OctaFX Rep.
Kuala Lumpur, Malaysia,
Dec 30, 2020,
Registered user

Slow withdrawal

Service use: Live

Length of use: 3-6 Months

Deposit take less than 1sec
Withdrawal take forever.

If you guys want to withdraw the money. Please do 1 year in advance
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jan 15, 2021:
Dear taibismail,

Thank you for reaching out and sharing your feelings with us. We're sorry to read about your dissatisfaction with our processing times. Please let us remind you that all withdrawal requests at OctaFX are processed within a few business hours. However, when our Financial Department handles a high number of requests, in rare cases, we ask to allow extra time, but it does not exceed 24 hours overall.

Please note that since you didn't provide your trading account number, we couldn't look into your previous requests. However, we wish to assure you that we always strive to improve our services and reduce the processing time. We also want you to know that if your payment is delayed or you feel like it’s taking longer than it should, you can send us a message in the live chat available on the website. Our team will be more than happy to update you on your request status.

We’re looking to hearing from you, so please don’t hesitate to get in touch with us anytime. Our team is available 24/7, and they're always here to help you whenever you need it.

Kind regards,
OctaFX Rep.
Noida, India,
Dec 25, 2020,
Registered user

Service use: Live

Length of use: 0-3 Months

I deposited my money through the payment link which they have provided in the login my money was debited from my bank account.now the octafx is giving that we didnot receive the money.octafx do not have a time frame to resolve the issue.Its laughable to listen to the bot replies through the chat.
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jan 15, 2021:
Dear akshay29,

Thank you for letting us know about the problem. We deeply regret that you were having a hard time trying to deposit, and you couldn't reach out to our support team. Unfortunately, we couldn't identify you on our system and look into your previous inquiries since you didn't provide your account details in your review. If you could contact us directly and share this information with our team, it will help us investigate the issue and understand what happened with your payment.

Please note that generally, it takes a couple of hours for bank transfers to be processed. However, we ask you to allow us extra time when our Financial Department handles a high number of requests. There could be different causes of why your payment is delayed and not reflected in your account. This requires an investigation, and we strongly encourage you to send us your payment proof if your deposit wasn't credited into your account after 24 hours have passed. These actions could help our team look up your payment and process it.

In the meantime, don’t forget that our team composes of real agents committed to helping you whenever you need it, so please contact us after reading this reply. We’ll make sure to find your payment as soon as possible and keep you updated.

Kind regards,
OctaFX Rep.
mie,
kuala lumpur, Malaysia,
Dec 21, 2020,
Guest

Bank Negara Malaysia

Service use: Other

Length of use: over 1 Year

Please be alert, not all bank accept draw direct to local bank. it can be lock by their term.
 
Reply by OctaFX Rep submitted Jan 15, 2021:
Dear Mie,

Thank you for reaching out and bringing this question to our attention. Unfortunately, we couldn't identify you on our system and look into your review since you didn't provide any details about your trading account or the bank you were using at the time. We’d really appreciate it if you could get in touch with our team and share the necessary details to help us find out what happened and investigate the matter.

We also want to remind you that our support team is always here to help you. They're available 24/7, and we'll be more than happy to hear from you and assist whenever you need it.

We're looking forward to hearing from you soon.

Kind regards,
OctaFX Rep.
Larissa Hering,
Allschwil, Switzerland,
Dec 17, 2020,
Guest

Everything is excellent

Service use: Live

Length of use: 6-12 Months

I have a lot of experience with various brokers, but Octafx is the absolut best.

Low spreads...
Great bonus conditions...
Very fast withdrawal without any fees..
Good customer service....
  1 trader has found this review helpful
Reply by OctaFX Rep submitted Jan 15, 2021:
Dear Larissa Hering,

Thank you for sharing such thoughtful feedback about our brokerage. We try really hard to provide the best trading experience for our customers here at OctaFX. Reading reviews like yours is a great hint that we’re providing our customers with the services that meet their needs, and we truly couldn’t be happier that that’s the case for you. We appreciate you being our client and want to say that you're always welcome on our chat at any time if you have any questions or suggestions.

Kind regards,
OctaFX Rep.
Johor, Malaysia,
Dec 14, 2020,
Registered user

Accounts 13108888 been locked just for cdt card depo verify during tickets

Service use: Live

Length of use: 0-3 Months

On last weeks 9 disember between 9pm to 12pm Malaysia time my accounts been locked just for cdt card depo verify make me lost opportunity to close all trades ( open tickets ) in profit then turn it to lost. For verification purpose company just can hold depo n withdrawal instead of lock accounts.
 
Reply by OctaFX Rep submitted Dec 16, 2020:
Dear Rempit63,

As we’re already addressed your complaint in the thread you’ve created here on FPA, please allow us to echo what we’ve said here.

Thank you for your patience while we consulted your case with our team. After looking into the matters you brought to our attention, we can see that the cards you used to fund your trading account for the first and second time were different.

Please note that in such cases, our Financial Department may request verification of the second card to ensure it belongs to you and not to a third party, as all third-party transactions are strictly prohibited here at OctaFX. Therefore, the procedure is fully in line with our security measures.

We cannot merely block the possibility of conducting further transactions because in cases where funds do belong to a third party, we have to ensure that they’re refunded to the originating account. Therefore, it’s the trading activity that must be restricted to ensure that such money is not used for trading.

Looking into your trading history, we can see that the orders you're referring to were closed 17 hours after you got back access to your account. However, those orders could have been closed before the stop out occurred either in profit or with less loss as the two hours of account locking did not impact them. You decided to trade in the same direction, and it eventually led to the stop out. There were no issues from our side, and your orders were executed as per the market conditions. Unfortunately, there are no grounds for compensation/reimbursement as it was solely your decision to continue trading.

We want to remind you that despite this incident, you're always welcomed to contact us anytime, and we'll be more than happy to hear from you and help with any questions you may have.

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.