OctaFX review - broker regulators, trading platforms, features and traders ratings.

2.977 • 319 REVIEWS
Updated: Aug 15, 2022
OctaFX.com (.eu) Is this your company?

What is OctaFX?

OctaFX is a Metatrader forex broker established in 2011 and regulated by CySEC (Cyprus) since 2018. The broker also holds a license from FSA (St. Vincent and Grenadines) for non-EU clients.

OctaFX offers MT4 and MT5 trading platforms, both come standard with desktop, mobile, and WebTrader versions. Octa FX also offers its own proprietary social copy-trading platform. Trading instruments include Forex, Commodities, Indices, and Cryptocurrencies. (A total of 50+ CFD assets are available.)

Minimum deposit to open OctaFx live account is $20 and leverage is capped at 500:1. Withdrawal and deposit methods include VISA, Bitcoin, Neteller, Skrill, UnionPay and multiple Local Bank Transfers.

OctaFX trading education includes 11-part Forex Basic Course videos, archived Youtube webinars, articles, platform tutorials, and extensive FAQs. Market research features in-house created weekly analytics and daily updates covering both technical and fundamental aspects. Automated technical analysis is offered with the MetaTrader Autochartist plugin.

Please read OctaFX Reviews below and share live trading experiences with this broker.

Other websites of this company include OctaFX.eu, OctaFX.net, Octapk.net, OctaFX.pro.
2.977 • 319 REVIEWS
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Traders Reviews

Sibghat
Rawalpind, Pakistan,
Aug 9, 2022,
Registered user

They are not giving my refund back ( my personal deposit)

Service use: Live Length of use: over 1 Year
They block my and not giving my refund back. I suddenly got email from octafx they said unverified my account and ask for to provide bank statement and selfies. I provided all what they asked but instead of verifying they block my account. I mentioning the email which I received from octafx
"Service denied in accordance with the p. 3.10 of the Customer Agreement

Customer Agreement p. 3.10 declares the following:

"3.10. The Company reserves the right, at its discretion, at any time to refuse to provide the Services to the Client and the Client agrees that the Company will have no obligation to inform the Client of the reasons."

It means that the Company takes its right to discontinue services provided to you. The access to your Personal Area at our website will be blocked and won't be restored.

We will refund your remaining funds as soon as possible rest assured"

In end they mentioned my refund is in process but now it is more than 14 days and I still haven't received refund or any response.
Saima Noreen
Pakistan, Pakistan,
Aug 4, 2022,
Registered user

Octafx embazzled my funds 9450$ and blocked my account

Service use: Live Length of use: 6-12 Months
I've been trading with octafx recently. My experience says if you keep loosing they won't have a problem but by mistake if you made any profit they will start invesgation of your account. I had 9450$ in my account most of which was profit from my reades. When i tried to withdraw they unverified my account due to reason suspesious activity. Closing profitable trade is a suspicious activity for them. They asked me for bank statement and selfie holding id. I provided documents instead of verifying my account they blocked my account saying according to para 3.10 company reserve the right to discontinue service for you. Also said there will be no refund as your withdrawal exceed your deposit.
When a client is making money and they do this, it shows their true face and hypocrisy. I've opened a thread I don't know will get my funds back or not but for others and me it is a lesson. Just stay away from this broker. octafx.com is the name not octafx.eu
2 traders have found this review helpful
Traderhuhn
Allschwil, Switzerland,
Jul 28, 2022,
Registered user

Withdrawal issues solved

Service use: Live Length of use: over 1 Year
Withdrawal issue is cleared now and I have received my money. Obviously it was really a technical problem they had with their payment provider. I am glad the problem is solved because otherwise the services of Octafx are really good.

Jul 25, 2022 - 2 Stars I used to be very happy with the services of Octafx, but unfortunately suddenly it changed. My withdrawals do not get processed anymore, they get declined with fishy reasons (not enough funds - but then they say that was a mistake and I should please make a new withdrawal). Then I have to wait another 3 days and the new withdrawal gets declined as I should use another method for withdrawal - which I have never used for a deposit. Then they are saying they are having technical issues and I should please be patient.

This has been going on for two weeks now, I wanted not to rush to false conclusions and give it some time, but now I do not trust them anymore - two weeks is just too long.

Aug 26, 2021 - 2 Stars 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?

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.
Reply by OctaFX Rep submitted Aug 11, 2022:
Dear Traderhuhn,

Thank you for updating your review and informing us that your funds have reached your end.

We appreciate your work putting this well-rounded review together, as we know how helpful and informative it will be for our team and customers.

Our team works hard to keep you and all of our clients happy, and they will ensure to improve our payment processing workflow to avoid payment delays in the future.

We genuinely hope to hear from you again anytime soon.

Kind regards,
OctaFX Rep.
Naveed
Pakistan, Pakistan,
Jul 25, 2022,
Registered user

Not getting my withdrawa

Service use: Live Length of use: over 1 Year
I am trying to withdraw my funds since last wednesday but they are not giving it. Last tuesday I got an email from kyc department that my account is unverified and I have to provide selfie with cnic and account statement to verify my account and to perform transaction. I provided them the rewuire documents and goy mail that my account is verified. Now I am trying to wiyhdraw funds but my request got rejected and reason which they gave is that account is under investigation. However, when i asked from kyc about this, they said my account is fully operational and verified and i can do deposit and withdraw.
Reply by OctaFX Rep submitted Aug 4, 2022:
Dear Naveed,

We're very sorry you're undergoing difficulties withdrawing your funds.

Unfortunately, we couldn't identify you on our system and verify your complaint since you didn't share your OctaFX account information. That said, we encourage you to get in touch with us via one of our social media accounts and provide this information. Our team is always here to help, and they would be happy to look into this for you.

In the meantime, we wish to note that verification is a security measure that follows our AML policies, and our customers must confirm their identity and get verified before placing a withdrawal request.

We're looking forward to hearing from you anytime soon.

Kind regards,
OctaFX Rep.
Xian0971
Bukit mertajam, Malaysia,
Jul 8, 2022,
Registered user

Scammer broker! Market maker alert!

Service use: Live Length of use: over 1 Year
Today gold market didn't even touch 1753 and octa fx fake it to 1753 and go back down. As well trading view chart didn't happen any big flow pips but octa fx hit all seller SL then go back sell direction and definitely bearish trend!
2 traders have found this review helpful
Reply by OctaFX Rep submitted Aug 10, 2022:
Dear Xian0971,

We're sorry that your trading expectations weren't met and you're dissatisfied with our services.

After reviewing your case, we've found that you had only one XAUUSD order on July 8, and it was closed manually, not by a stop-out. We regret that the closing price didn't match the one you had in mind. However, we would like to remind you that each broker has a selected pool of liquidity providers, and the quotes do not always match tick by tick. That's why you may see such differences between some candles and charts in general of particular brokers.

Needless to say that as an ECN Forex broker, we can't influence the prices you see in the trading platform as we apply market execution; none of your orders is internalized but sent to our liquidity providers to be executed at their end. The chart shows the best bid and ask prices quoted from multiple liquidity providers, and different brokers use various liquidity providers that may provide their own pools of liquidity.

That said, we'd encourage you to get in touch with our Customer Support team at support@octafx.com and share more information about the orders in question.

Our team is always here for you, and they will be happy to look into this for you and address your concerns.

Kind regards,
OctaFX Rep.
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Frequently Asked Questions

Is OctaFX regulated?

OctaFX is regulated in Cyprus. The regulatory license is:
  • Regulation: CySEC (Cyprus Securities and Exchange Commission): 372/18
OctaFX is also registered in Saint Vincent And Grenadines. The registration is:
  • Registration: Saint Vincent And Grenadines FSA(Financial Service Authority): 19776
Note: The St. Vincent and the Grenadines Financial Services Authority (FSA) does not issue any licenses to carry on the business of FOREX Trading or Brokerage or Binary Options Trading nor does the FSA “Regulate, Monitor, Supervise or License” International Business Companies (IBCs) which engage in such activities.

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?

The minimum deposit according to an OctaFX rep is $20, but they recommend $100 across all types of account.

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

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.