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

3.007 • 325 REVIEWS
Updated: Mar 20, 2023
OctaFX.com (.eu)

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.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $20
Established: 2011
Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent And Grenadines
Contact: support@octafx.com
Regional offices:
Regulators: CySEC #372/18, SVGFSA #19776
Prohibited countries:
Trading platforms: MT4, MT5
Dealing Desk: ❌ No
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes
ECN: βœ… Yes

Trading Instruments

Currencies: (35+)
Cryptocurrencies: (25+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: βœ… Yes
News Trading: βœ… Yes
Scalping: βœ… Yes

Managed Accounts & Social Trading

Copy Trading: βœ… 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
3.007 • 325 REVIEWS

Traders Reviews

J
Malaysia, Malaysia,
Mar 14, 2023,
Registered user

Worst broker that stole my 7000 usd profit

Service use: Live Length of use: 0-3 Months
This broker is the worst broker I used before, my friend making sell and close my order at 1900.94, but this broker directly adjust my closing price at 1906.15. I had recorded my trade, and I have proof
2 traders have found this review helpful
J
Reply by OctaFX Rep submitted Mar 20, 2023:
Dear Jason ang,

We're very sorry to read about your experience at OctaFX.

Upon checking your case with our team, we've found that at the time of execution, there was not enough liquidity for the requested volume, and your orders got executed with the next available price. Nevertheless, after careful consideration, our team has decided to compensate you for some of your funds, and $6,766.5 was credited to your balance.

By taking this chance, we want to underline that OctaFX is a reliable Forex brokerage that always complies with its payment obligations and values its customers. We ensure the fastest order execution and aim to offer one of the most competitive trading conditions in the industry.

We genuinely hope this incident won't overshadow your earlier time spent with us and that you'll continue to enjoy trading with our brokerage.

Please don't hesitate to email our team at support@octafx.com with any questions. They're always ready to hear from you and help.

Kind regards,
OctaFX Rep.
A
Singapore, Singapore,
Jan 24, 2023,
Registered user

Beware!!

Service use: Live Length of use: 0-3 Months
First few withdrawal is a breeze but after that its a nightmare. They didnt allow me to withdraw direct to my bank account anymore. Instead they ask me to withdraw using visa. They keep on quoting 'As stated in p. 13.9. of OctaFX Customer Agreement, in some cases the Company reserves a right to withdraw Client's funds only to his/her bank account' the bank account is under my name and still they keep on denying my funds.
A
Reply by OctaFX Rep submitted Jan 26, 2023:
Dear ashiff,

We're very sorry to read about your dissatisfaction with our services and the trouble you underwent withdrawing your funds.

Unfortunately, we couldn't identify you on our system and verify your account since you didn't provide your OctaFX account information. Thus we'd appreciate it if you could reach out to us at support@octafx.com and share this data with our team. You can also message us via social media, and we'll be happy to look into this for you.

Please note that our Financial Department usually ensures that most payments are completed timely and follow the same payment method. However, in rare cases, certain technical limitations may require them to ask customers to use another payment option until further notice. Such cases are infrequent and may occur until our team fixes the issue.

Once again, we apologize for the inconvenience and ask you to message us directly whenever you can.

We look forward to hearing from you soon.

Kind regards,
OctaFX Rep.
S
India, India,
Jan 12, 2023,
Registered user

Octafx Is Loosing there trust and values

Service use: Live Length of use: over 1 Year
Due to some emergency i had placed withdrawal request 3/1/2023 it's been 10 days since funds got debited from wallet but not credited to my bank account. Submitted my bank statement and all supportive documents Nothing is Fixed. I have been contacting live chat support team they say its in progress and rectified since 10days .

MT4 A/c: 26983318
Amount - 1633USD
Withdrawal Request ID -9056517
Payment Transaction Number : 23736059

Please dont play with Investor Funds .Its just my Principle Amount which had requested for withdrawal not Any Profit Withdrawal kindly process my money to bank A/c .

Regards
Sharanya

Sep 21, 2019 - 2 Stars Just the quick payment gateway works

You guys charge high spreads
You guys charge 3times extra commission on every Wednesday which I haven't seen in my 10 years FX career..

MT4 Account: 660958
Order ID 121592362

Guy I have lost more than 2000$ it was my wrong trades I agree...

Keeping that away recently I had opened a deal for EUR/CAD
with stoploss options....

The market never reached that value still the broker close my order ...

I agree during volitality market order execution will slip but hear the stop loss is hig with no reason...

There was 25-20 pips different...the order was closed for no reason which was supposed to be in PROFIT 20-30 pips

I have open order with othe broker like TICKMILL ,EXNESS & PEPERSTONE running.....

You guys are sick unprofessional doesn't want you're clients to book 10pips profit.... Request octafx technical team to fix the error or Reopen my order or refund for the order with profits

You guys should cliam responsible for this shit thing happened in your platform

Reply by OctaFX Rep submitted Oct 11, 2019 Dear Sharanya Naidu,

Triple swap is accrued if a trade is carried over from Wednesday to Thursday because forex market is a spot market. Meaning that the calculation of all the deals is made on the second working day after a trading operation was done, consequently from Wednesday to Thursday swap is accrued for past weekends and Wednesday.

As for comparing your trades with other brokers we’d ask you to keep in mind that all brokers have different trading conditions. You’re free to check all the rules concerning pending orders in our Customer Agreement.

At the moment your trades are being reviewed by our Trade Compliance Department. While there are special rules governing the execution of the pending orders we can assure you that if a technical error if found on our side your trades will be reimbursed.

Of course if you have any questions in the meantime you can contact us anytime.

We hope that this will not impede your overall experience with OctaFX and that you’ll continue to enjoy trading with us.

Kind regards,
OctaFX Rep.
S
Reply by OctaFX Rep submitted Jan 18, 2023:
Dear Sharanya Naidu,

We're sorry your payment is taking longer, and you decided to share your feedback twice.

Upon following your case, we've found that our team processed the transaction on the same day as requested, and there weren't any issues from our side at the time. After your previous reports about not receiving the payment, we can see that our Financial Department got in touch with the payment provider and requested more information from their end. Unfortunately, we're yet to be updated, and you can rest assured that once we obtain the data, we'll contact you immediately. In addition, we initiated another request for updates and will hopefully receive them shortly.

Once again, we apologize for this hold-up. We understand how frustrating it is to wait longer, and what happened doesn't sound like the services we aim to provide, so we'll ensure to take your case on board with our team to avoid such issues in the future. OctaFX always complies with payment obligations, and we're committed to resolving this unexpected inconvenience quickly.

Please bear with us and allow a little bit of extra time. You can also reach out to us at support@octafx.com for more information, and our team will be happy to assist you anytime and keep you up-to-date.

Kind regards.
OctaFX Rep.
H
KERALA, India,
Jan 2, 2023,
Registered user

EXCELLENT RATING FOR OCTAFX THEIR SERVICES ARE EVEN MORE THAN EXCELLENT.

Service use: Live Length of use: over 1 Year
MY SINCERE BIG THANKS FOR THE ENTIRE SUPPORT-TEAM WHO HAS ENDEAVORED TO FACILITATE MY WITHDRAWAL. IT CAME THROUGH AND HAVE RECEIVED THE FUNDS. THANK YOU SO MUCH. FEW DAYS DELAY, I FULLY UNDERSTAND THAT IT WAS NOT FROM OCTAFX BUT DUE TO THE SPECIAL SITUATION YOU ENCOUNTERED IN LOCAL PAYMENT TRANSFERS

FOR ANY PERSON GENUINELY TRYING TO EVALUATE OCTAFX, I WISH TO ASSURE YOU THAT OCTAFX IS HIGHLY DEPENDABLE BROKERAGE AND THEY TRULY SUPPORT THE TRADERS IN ALL MANNER POSSIBLE. I AM GIVING THIS ASSURANCE FROM MY CONTINOUS EXPERIENCE WITH THEM FOR MORE THAN TWO YEARS. I HAVE NEVER HAD A SINGLE INCIDENT WHATSOEVER TO LEAVE A NEGATIVE COMMENT ABOUT THEM. I AM LEAVING THE ABOVE ASSURANCE JUST BECAUSE I HAVE SEEN SOME PEOPLE ARE LEAVING NEGATIVE COMMENTS WHICH MIGHT CONFUSE THOSE LOOKING FOR A GENUINE STATUS ABOUT OCTAFX. THE CUSTOMER SUPPORT IS AMAZING AND THEY RESPOND VERY QUICKLY AND RESOLVE ANY LEGITIMATE ISSUES.

TODAY 2ND JANUARY 2023 ALSO I RECEIVED PAYMENT FROM OCTAFX WITHOUT ANY ISSUES. BUT I WISH TO STATE THAT THERE IS A DELAY IN INDIA LOCAL BANK WITHDRAWAL METHOD WHICH THEY INFORMED THAT THEY ARE DOING THEIR BEST TO RESTORE. BUT CUSTOMER SUPPORT TEAM EXTENDED THEIR FULL ASSISTANCE TO RELEASE PAYMENT THROUGH ALTERNATIVE SYSTEM.

OCTAFX IS THE ONLY BROKERAGE I AM USING FOR TRADING AND IF ANY GENUINE INCIDENTS OCCUR THAT NEED TRADER'S ATTENTION WILL SURELY BE INCLUDED IN MY REVIEW. I AM LEAVING THIS COMMENTS FROM MY OWN EXPERIENCE AND MY CONTINUING TRADING LIFE WITH THIS EXCELLENT BROKERAGE ESPECIALLY FOR INDIAN TRADERS. RECENT DELAY IN WITHDRAWAL HAD SHAKEN MY CONFIDENCE WHICH HAS BEEN FULLY RESTROED BY THE SUPPORT TEAM.

I WISH ALL THE VERY BEST TO OCTAFX TEAM AND WILL STAY WITH THEM FOR SURE.
THANK YOU SO MUCH ONCE AGAIN AND

WISH THE ENTIRE OCTAFX TEAM A VERY HAPPY NEW YEAR 2023.
HSNA
H
Reply by OctaFX Rep submitted Jan 11, 2023:
Dear HSNA_SLH,

We can't thank you enough for putting this great review together and sharing your kind words about our team.

It's our pleasure to provide services to customers like you, and we're glad that this commitment is reflected in your feedback. We'll ensure to pass it on to our team as, undoubtedly, it will leave smiles on their faces.

Additionally, we want to reassure you that our team is working closely with our payment provider in India to decrease the processing time for bank transactions. We also offer alternative payment solutions in some instances to make sure our traders receive their funds fast.

Thanks again, and we hope to talk to you again soon.

Kind regards,
OctaFX Rep.
H
Pakistan, Pakistan,
Nov 27, 2022,
Registered user

Broker Octafx block my account and doesn't give me my refund of 23000$

Service use: Live Length of use: 0-3 Months
Octafx is a scam broker. When you profit trading with octafx they will not let you withdraw your profit. I've traded with them like 3 months, I was in profit, on 11 nov 2022 when I requested a withdrawal they declined my withdrawal request giving reason your account is under investigation. I contacted them they said it'll be done by 24 hours you should wait then we'll process. After 20 hours i received mail that my account is blocked and it won't be restored. I had most of my funds in octafx amounting 23000$. I asked them to refund my amount but they refused giving reason that you've already withdrawn more amount than deposit. Also gave references to their agreement para 3.10 which says.
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."

From that day i am trying to get my money back , until 13 November they replied my mails but now today 27 nov in 14 days i received only one reply from them that same 3.10 service denied mail. This behavior from a broker shows their disgusting policy of embazzling their clients funds.
If a broker cannot let their customers withdraw their profit then who'll trade with such trash broker. I've opened thread on Forex peace army about this problem also there are similar cases against octafx please support me there too . Andd stay away from this scam broker.
They don't reply because they don't have a valid reason, their FPA repsentative haven't replied on my thread despite my invitation also no reply on mail.
My advice to traders considering octafx as a broker please ignore their 4.5* trust Score on trustpilot it's fake because most of reviews are invited by broker. Please if you want to profit in forex leave this trash broker alone and find some excellent broker out there.
Octafx if you want reply me here or on FPA my account no is 23200345. Investigate for sure but return my funds if there's any grace left in you guys. Otherwise keep my money I'll not stop reviewing just here.
1 trader has found this review helpful
H
Reply by OctaFX Rep submitted Dec 1, 2022:
Dear Hamid Ali,

Please excuse us for the delayed response. Unfortunately, we've been having a high number of incoming inquiries lately, and sometimes it takes a little longer to reply.

We're very sorry to read about what happened, and you can rest assured that we'll start looking into your case immediately. Once we have all information from the relevant teams, we'll post the investigation results in this thread shortly.

In the meantime, we ask you to bear with us and allow us a little extra time.

We appreciate your patience and thank you for staying with us.

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.