Otafx

The MT4 platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility.

New forex bonuses

Not FCA regulated
Limited funding methods
Zero pip spreads unavailable
No copy trading on ios devices

Octafx review and tutorial 2021

Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Octafx offers leveraged trading on currencies.

Trade popular digital currencies at octafx.

Octafx is a forex, CFD and copy trading broker offering the MT4, MT5 and ctrader platforms. In this broker review, we’ll login to the personal area and uncover the key features, including leverage, demo accounts, regulation and more. Read on to find out if octafx is a good forex broker or not.

Octafx details

Octafx was established in 2011. The company’s headquarters are located in saint vincent and the grenadines, with an additional support office in jakarta, indonesia. The broker’s EU entity, octa markets cyprus ltd, is located in limassol, cyprus, and is regulated by the cysec.

With over 1.5 million trading accounts and a long list of forex industry awards, the founder and owner has ensured the company has amassed a global reach.

Trading platforms

Metatrader 4

The MT4 platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility.

The platform allows you to develop your own expert advisors and technical indicators to suit your trading style. In addition to the 30 in-built technical indicators, advanced charting tools allow you to analyse price fluctuations and trends in the market, using 3 customisable chart and graph types.

Note that MT4 is currently only available for non-EU clients.

Octafx metatrader 4

Metatrader 5

MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy and more advanced features.

Users enjoy 8 types of pending orders, 44 analytical objects including gann and fibonacci retracement, plus additional technical indicators which are unique to MT5, such as trend oscillators and bill williams’ tools. There’s also an economic calendar as well as two major accounting modes for greater flexibility: hedging and netting.

Both platforms come in several languages, including english, arabic and hindi, and are compatible with windows pcs. Octafx provides a useful download guide on the website.

Octafx metatrader 5

Metatrader webtrader

For those using mac pcs, octafx also offers the web terminal version of MT4 and MT5, meaning traders can access the markets straight from an internet browser.

The web platforms are highly functional and customisable, boasting the same features found in the desktop versions, including charting tools, market indicators, scripts and expert advisors, plus access to diverse order types and execution modes.

Ctrader

The ctrader platform is a robust system designed for forex and CFD trading. The platform includes over 26 in-built chart views and up to 50 chart templates on a fully customisable interface. The platform boasts an impressive suite of 70 technical indicators and 28 chart timeframes, plus advanced level scalping and visual back-testing using cbot. With full market depth, traders can also execute advanced online trading strategies as well as programmable algorithms.

The ctrader platform is ready to download from the website once you have completed the registration process. The ctrader web terminal is also available for macos users.

Octafx ctrader

Markets

Octafx offers some of the most popular products, including:

Forex – 28 currency pairs including EUR/USD and USD/JPY

Indices – 10 CFD indices available such as US30 and NASDAQ

Commodities – including spot gold and silver contracts, plus brent and crude oil

Cryptocurrencies – 3 major digital currencies available; bitcoin, ethereum and litecoin

Trading fees

Typical variable spreads for EUR/USD are around 0.7 pips in both the metatrader and ctrader platforms. Gold spreads (XAUUSD) start from around 2 pips and major indices such as NAS100 are around 3.5 points. Bitcoin spreads (BTCUSD) are around 3.1 pips. Fixed spreads are also available for MT4 USD accounts.

Trading commissions are only charged in the ctrader account, at 0.03 USD per 0.01 lots. There are also rollover rates applied on positions held over 3 days. Details of these fees are listed in the product specifications.

Leverage

Octafx offers generous leverage limits up to 1:500 for currencies in the MT4 and ctrader accounts. Leverage in the MT5 account is available up to 1:200 on currencies. Metals can be leveraged up to 1:200, indices and energies up to 1:50, and cryptocurrencies up to 1:2.

Note that EU clients can only trade with leverage up to 1:30.

Mobile apps

Octafx delivers mobile app versions of the MT4, MT5 and ctrader platforms, available for iphone and android devices. The apps offer many of the essential features found in the desktop applications, including a complete set of orders in metatrader and full balance, margin and P&L information in ctrader. All trading apps come with a customisable mobile interface with clean and accurate trading functions, as well as custom mobile price alerts.

Octafx MT4 mobile app

Octafx (non-EU) also offers a downloadable proprietary copy trading mobile app, currently available only on android (APK) devices. The app allows you to manage and keep track of trading accounts whilst on the go. Users can also activate bonuses, access trader tools and deposit into their accounts. The app download process is quick and can be accessed from the google play store.

Octafx mobile app

Payment methods

Octafx offers a few fast funding methods which vary depending on your origin country, including bank cards, perfect money and bitcoin. Local bank transfers are also available for traders from certain countries, including thailand, india and nigeria.

The minimum withdrawal and deposit amounts are 5 USD for perfect money, 0.00096000 for bitcoin and 50 EUR for cards. All deposits methods are generally processed instantly or within a few minutes.

There are no commissions charged on deposits, withdrawals or currency exchange rates, except for 0.5% on perfect money deposits. The withdrawal time for all methods is 1 to 3 hours to approve and up to 30 minutes to transfer the funds. There is no withdrawal limit on earnings.

Demo account review

Octafx traders can open a demo account which provides the same trading experience as a live account but without risking any real investment. Each demo account is loaded with unlimited demo dollars and opportunities to participate in the broker’s demo contest to be one of the next champions. You can sign up for a free demo account in just a few minutes.

Octafx (non-EU) offers several deposit bonus deals, including a 50% bonus and a 100% bonus during special offer periods. In addition, there’s the trade & win promotion where traders can win gifts such as octafx t-shirts or gadgets. There are also contest opportunities, including the octafx 16 cars contest where traders are entered into a car prize draw every 3 months, as well as the champion demo contest 2020 for MT4 users.

Make sure to check all bonus terms and conditions before participating.

Regulation review

Octa markets cyprus ltd is authorised and regulated by the cyprus securities and exchange commission (cysec), under license number 372/18. EU member state residents are therefore protected by strict regulatory standards, including segregated client accounts and protection by the investor compensation fund.

The non-EU entity also claims to provide segregated client accounts to protect trader funds, as well as negative balance protection which ensures that trader account balances never fall below zero.

Additional features

Traders benefit from a range of additional education features and trading tools at octafx, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the autochartist plugin and live quotes.

Octafx also offers a copy trading service, which is available on the desktop terminal and through the android mobile app. The copy trading services allows clients to automatically copy leading traders based on the equity and leverage of both the master trader and the copier’s accounts.

Octafx economic calendar

Account types

There are 3 account types available at octafx, which are determined by the trading platform you are using: micro (MT4), pro (MT5) and ECN (ctrader). Accounts are available in USD or EUR. The minimum trade volume across all accounts is 0.01 lots and there is no maximum.

The main differences between the accounts is the assets available to trade, the spreads and the minimum deposit amounts. The micro and ECN minimum deposit is 100 USD. The minimum deposit in the pro account is 500 USD. Commissions are also charged in the ECN account.

Account opening is easy and requires the submission of ID documents in line with KYC requirements. In most cases, if your documents are submitted clearly, verification should only take up to 3 hours.

There is also an islamic swap-free account for those worried about whether trading is haram or halal. Note clients from the united states are not accepted at octafx or octa markets cyprus ltd.

Benefits

Traders enjoy several benefits when trading with octafx vs the likes of FBS, IQ option and exness:

Metatrader and ctrader platforms

Bonuses and contests (non-EU)

Commission-free trading

EU regulation

Drawbacks

Compared to other brokers such as hotforex, XTB and olymptrade, octafx does fall short in some areas:

Not FCA regulated

Limited funding methods

Zero pip spreads unavailable

No copy trading on ios devices

Trading hours

Trading times in the MT4 and MT5 platforms are 24/5, from 00:00 on monday to 23:59 on friday server time (EET/EST). The ctrader server time zone is UTC +0, though you can set other time zones, such as GMT, for charts and trading information.

Customer support

For telephone support, non-EU clients can contact the helpline, +44 20 3322 1059, between 00:00 and 24:00, monday to friday (EET). For EU clients, the number to call is +357 25 251 973 between 09:00 and 18:00, monday to friday (EET).

There is also an email form, however, the fastest way to get in touch is via the 24/7 live chat service, which you can access by clicking on the chat logo at the bottom of the website. The support team are helpful if you need to know your withdrawal pin, any platform problems, VPS questions, or you want to delete an account.

In addition, you can find updates on the broker’s social media pages, as well as the octafx youtube channel.

The broker’s head office addresses are:

Octafx, suite 305, griffith corporate centre, beachmont, kingstown, st vincent and the grenadines

Octa markets cyprus ltd, 1 agias zonis and thessalonikis corner, nicolau pentadromos center, block: B’, office: 201, 3026, limassol, cyprus

The broker’s website is available in a number of languages for clients from indonesia, malaysia, pakistan and india.

Security

Octafx uses 128-bit SSL encryption and PIN codes in the personal area and trading platforms, which is the industry-standard security requirement for protecting personal data. The broker also applies 3D secure visa authorisation when processing credit and debit card transactions.

Octafx verdict

Octafx offers a promising trading service for novices and experienced traders, with a choice of metatrader or ctrader platforms as well as the copytrading app. The broker offers fee-free deposits and withdrawals, plus islamic accounts and a demo solution. The ECN spreads are also decent, though not as competitive as the zero spread accounts offered at other brokers like XM, for example.

Accepted countries

Octafx accepts traders from australia, thailand, canada, united kingdom, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.

Traders can not use octafx from united states.

Is octafx a legit company and regulated broker?

Octafx is a legit company registered in saint vincent and the grenadines. The EU entity is registered in limassol, cyprus and regulated by cysec. If you’re unsure whether a broker is a scam or legit company, you can always check out customer reviews online.

Is octafx a market maker?

No, octafx is a no dealing desk (NDD) broker and therefore acts as an intermediary between the trader and the real market. Octafx receives commissions from its liquidity providers for each transaction.

How do I delete my octafx account?

To delete your account, you will need to get in touch with the customer support team. Note accounts are automatically deactivated if you never deposit or sign in to them.

How do I open a copytrading account at octafx?

You can sign up and login to the copytrading account in a few easy steps. Once you login to your personal area, you can set up your copytrading profile and make a deposit to your wallet. You can also sign in to your new account using the android app.

Why was my octafx withdrawal rejected?

If you encounter a withdrawal problem, you will receive a notification in your email explaining the issue. Alternatively, if you need to cancel a withdrawal, you can do this within your personal area.

Does octafx offer any free bonus deals?

At the time of writing, octafx is not offering any free bonus deals, no deposit bonus deals or promo codes. There are other promotions available for non-EU clients. Make sure to check the bonus conditions before participating.

Is octafx legal in india and pakistan?

Yes, you can legally open an octafx account from 100 countries, including india, pakistan, singapore, ghana and the UAE.

Octafx review

Octafx is a quite recently formed straight through processing (STP) ECN forex broker. Octafx offers both the metatrader and ctrader platforms, all major currency pairs and commodities, leverage 1:500, and a minimum deposit of $5. Octafx has been operating since 2011 out of its main center in jakarta, indonesia. The company is also registered in saint vincent and the grenadines with license number 19776 IBC 2011 issued by the caribbean’s financial services authority or FSA. Octafx is regulated by cysec with the license number 372/18.

Octafx focuses primarily on the asian retail market and has won several notable industry awards, primarily for its service to that sector. In addition to asia, the company has customers in more than 100 countries worldwide, but it does not presently accept U.S. Based clients.

Its official website is located at www.Octafx.Com and a screenshot of its welcome page appears below:

Octafx features

Octafx offers a professional quality execution service in all of the major currency pairs, plus precious metals like gold and silver. Furthermore, octafx’s decision to act as a STP ECN broker has allowed it to offer customers very tight dealing spreads, quick execution times, no slippage on orders and no re-quotes. Those key features — plus the numerous interesting promotions and contests the broker offers — makes theirs a notably attractive package for most retail traders, especially those that wish to trade more actively.

Furthermore, the broker’s very modern dealing network offers state of the art connectivity to the markets. This helps give its clients greater assurance about stability, execution, reliability and excellent liquidity from international banks. In addition, the broker conscientiously segregates its operating capital from client deposits, thereby complying with regulatory requirements and giving customers great financial security. With respect to data security, the broker uses 128-bit SSL protection when encrypting trading and personal information.

The company also offers demo accounts, as well as three different live account types that include micro and ECN for metatrader 4 and ECN for ctrader. All account types can trade silver and gold, but the number of currency pairs allowed for each live account type differs, with 12 currency pairs allowed for the micro MT4 accounts, 28 pairs for the ECN MT4 accounts and 48 pairs for the ECN ctrader accounts. In addition, swap free accounts are allowed for both of the metatrader 4 account types, while ctrader accounts are swap free unless a trader leaves their position open over a weekend, in which case they are charged a rollover fee.

In terms of the amount of leverage available to traders, octafx offers leverage ratios of up to 500:1, and this ratio applies even to micro lot positions. Last, but certainly not least, those traders who wish to use strategies like scalping, hedging, news trading and expert advisers will not be disappointed in octafx, since all of those are permitted.

The broker also supports a demo account, which beginners can use to assess the platforms and the overall trading at the site.

Platforms & tools

Octafx will greatly please many forex traders since it offers support for the very popular metatrader4 and metatrader 5 online trading platform and its mobile apps. In addition to trade execution and order placement, these platforms offer extensive charting, technical analysis and portfolio management features. They also allow traders to use or write expert advisers that can automate dealing activities.

The screenshot shown below illustrates the basic functions of the octafx installation of metatrader 4, which includes market monitoring, charts and technical analysis, on screen trade execution, trade history and account management features.

The broker also supports the increasingly popular series of desktop and mobile app trading platforms offered by ctrader, which has interesting features that metatrader does not offer.

Asset classes

Octafx supports an impressive range of tradable asset taxonomies. CFD trading is one, followed by cryptocurrencies, commodities, stocks and currency pairs.

As far as cfds go, scores of tradable assets are supported, on MT4 as well as MT5. The maximum available leverage on this asset class is 1:50.

The broker currently supports 3 cryptocurrencies (paired with the USD): BTC, ETH and LTC. Be aware that octafx does not sell any cryptocurrencies to its traders. Only CFD-based trading is possible on this asset class. The maximum leverage available on crypto cfds is 1:2.

Commodity-wise, octafx offers gold and silver as well as crude oil, among a number of other tradable assets. The spreads are quite decent, although in some cases they may shoot up above 3 pips.

A total of 4 indices are available on MT4 and 10 on MT5, in addition to an impressive number of individual stocks. The leverage is 1:50 on this category.

Currency pair trading carries the best trading conditions. The maximum available leverage here is 1:500 in most cases. Some 28 currency pairs are available on all account types. Spreads start from 0.4 pips on major pairs but they can go as low as 0 pips on the ECN account.

Commission & fees

The floating spreads on the micro account start from 0.4 pips, while the fixed ones start at 2 pips. On the pro account, spreads start from 0.2 pips and on the ECN one, from 0 pips.

Unlike the other two account types, the ECN one does charge a commission. It does not feature a markup however. The ECN account comes with a weekend fee.

Research & education

Education-wise, the official site of the broker offers a decent selection of video tutorials, as well as access to some basics on FX trading and strategies.

The tutorials section covers every featured trading platform and it goes into details on most of the available functionalities.

Customer service

Octafx offers 24/5 customer service that includes a live chat feature with a selection of three departments, in addition to support via e-mail and phone. The company also uses social networking sites like facebook, twitter, youtube and instagram to communicate with its clients.

With respect to educational materials, octafx offers various manuals to assist clients in using the two main trading platforms supported by the broker, which are metatrader 4, metatrader 5 and ctrader. These manuals cover such things as: basic trading platform functionality; ways to navigate around the platform’s interface; and tips on making successful trades. The company also offers a glossary and various tutorials for new traders on their website.

Mobile trading

The octafx trading app provides access to most of the tradable assets and it looks great on smaller screens.

It lets traders deposit and withdraw funds, enable swap-free options, modify leverage and edit and restore passwords. In word, it is a standalone trading solution, which lets traders handle every aspect of their octafx trading account on the go.

Conclusion

Although a relatively new broker on the scene, octafx has received several industry awards and overall good reviews from its clients, making it seem like a decent choice for a forex broker. This favorable perspective is further strengthened by their decision to offer an ECN/STP broker service, making their dealing spreads and order execution top notch.

Another positive factor for octafx is its support for the popular metatrader 4 trading platform and its newer competitor ctrader that offers some exciting and innovative features.

On the downside, this broker is very focused on currencies and precious metals, so those traders who also wish to trade stocks, other commodities and indices will probably have to find another outlet for trading those asset classes.

Octafx is an online forex brokerage, offering three trading platforms and access to scores of tradable assets. FX daily info named the brokerage “the best ECN/STP broker of 2019.” brokers using an electronic communication network and straight-through processing do indeed have a fair business model. They do not act as market makers or parties involved in trading against their clients.
In light of these facts, yes, octafx is indeed a legitimate online brokerage.
On the other hand, octafx used to offer binary options, a trading instrument now out of favor, that was not exactly the best herald of legitimacy. Again, the broker no longer features such a trading product.
In 2015/16, octafx was one of the sponsors of the UK football club southampton FC.

Letting the users decide whether a broker is a good one or not is the only reasonable way to answer that question.
Octafx is in an interesting situation on the user feedback front. They have good reviews and bad. Their score at most of the major review portals reflects this fact. This is what one would expect from a broker as old and reputable as octafx.
Most of their user reviews seem genuine, unlike those of some of their peers.

• some like the trading conditions. The spreads are low, execution is quick and ECN trading is inherently fair.
• the availability of a swap-free account option is a major plus.
• the beginner-friendly nature of the broker.
• the quality of octafx support.
There are about as many complaints concerning octafx’s services as there are positive reviews.
• some allege that the broker charges a hefty fee on withdrawals, despite advertising otherwise.
• spread manipulation.
• problems with the trading platforms.
Octafx does have the potential to be a good broker. Not all users will agree with that assessment, however.

The minimum deposit with an octafx micro account is $5. If you intend to trade for profits, however, you should deposit more. The minimum deposit for a pro account is $500.

Yes. Octafx is regulated in several jurisdictions. In estonia, where its european base of operations is located, it is regulated by the local financial authorities. It used to possess a cysec license in the past as well.
In st. Vincent and the grenadines, it is licensed by the SVGFSA. Its license number is 19776.

Octafx currently maintains offices in estonia and st vincent and the grenadines. The exact addresses of these offices are:
• harju maakond, tallinn, lasnamae linnaosa, sepise tn 9// valukoja tn 8-110, estonia.
• suite 305, griffith corporate centre, beachmont, kingstown.

James west

Having started his online career back in 2005, over the years, james has written for scores of websites, covering online poker, esports, forex trading, binary options, and digital ledger technology. Continued

Comments on octafx

Im so annoid. Like some how you know how to trick people. I have been waiting for my withdrawals for 5 days now. This is not what terms say. This is violation.

Worst part I do the follow ups. You just sit there and claim you keep good work ethics . I want my money octa fx

Hi,
have you contacted their support and asked?

Best regards,
fxexplained.

$3000usd fee for withdrawal!

After making 12.5 lots and requesting a withdrawal request, they are charging me 3000USD of commission for deposit and withdrawal where their page is full of ads that are free.

Thank you for your comment.
Have you spoken to their support regarding this?

We asked our team to look into your complaint. If we’re not mistaken, the commission was reimbursed back to you.

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

Octafx UK review 2021

	octafx offers multi-asset trading on a range of platforms and mobile solutions.
Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Octafx is a multiple award-winning broker that provides access to forex, cfds, indices, commodities, cryptocurrencies. Traders that like the metatrader platforms can choose between both the metatrader4 and metatrader5 platforms at octafx.

Octafx also gives traders access to 3 cryptocurrencies: BTC, LTC and ETH.

Octafx summary

Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Ratings

CFD trading

Trade on the financial markets with cfds.

FTSE spread	1.8
GBPUSD spread	1.1
oil spread	1.1
stocks spread	variable

Forex trading

Octafx offers leveraged trading on currencies.

GBPUSD spread	1.1
EURUSD spread	0.7
EURGBP spread	2.1
assets	28

Cryptocurrency trading

Trade popular digital currencies at octafx.

Spread	variable
coins	BTC, LTC, ETH

Payment methods

Octafx accepts the following payment methods:

Bitcoin

Perfect money

Worldpay

Western union

Moneygram

Paysafecard

Awards

Octafx is an award-winning broker, with 8 awards received so far.

Best ECN/STP broker 2019 - fxdaily info

Best forex broker asia 2019 - fxdaily info

Best forex broker asia 2018 - global banking & finance review

Best FX broker 2018 - european CEO magazine

Best trading conditions 2018 - european CEO magazine

Best copy trading platform 2018 - forex-awards.Com

Best forex ECN broker 2017 - UK finance awards

Best trading conditions 2016 - forex report magazine

Octafx vs other brokers

If you want to compare octafx with other brokers, use the detailed comparisons below.

Octafx review

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.

Broker details

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

Join live discussion of octafx.Com on our forum

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.

Video

Your company video here? Contact ad sales

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

Traders reviews

Length of use: over 1 year

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.

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.

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

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.

Length of use: 0-3 months

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.

Bank negara malaysia

Length of use: over 1 year

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.

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.

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.

Length of use: 0-3 months

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.

Length of use: 0-3 months

I have been trading with this useless trader for 3 months now and im becoming more and more worried about the way this company handles my query or any issues.
1. They say there will be no swaps charged to accounts having funded more than 10k.
But they still keep charging the swaps and later asks me to provide details against the wrongly charged swaps. As in I'm working for octa FX and I will keep all this information ready for them.

2. They don't have a trading practice called partially closing a trade. If you are making losses on the trade you cant close it partially to minimize the loss. Rather it will book the entire loss and again open a new trade of the remaining lot. This is so weird and when I spoke to my account manager he gave fake promises of being working on the resolution.

3. They treat their customer with the least priority and I'm still to get my money reversed from them which now more than 50 days.

Nov 6, 2020 - 1 star octafx is a fraud company.. Beware.. You can lose money even without trading. There is no way you can contact there finance team. It's only the customer support team that never has any clue of what is happening.. In my case, 2 transactions of INR50000 got debited from my account on the 5th october 2020 but did not credit to my trading account. Since then I'm chatting with them every day.. But getting the same response .." madam we have requested for update sorry for the delay".. Every single day they are responding with the same message. After 1 month today on 05th nov, I asked them to arrange a call back from the account manager, when that human called me he was clueless about what is happening on my issue. He said he is following up with the finance team but he was not ready to provide a single email communication regarding the same. Still, no one knows what will happen to my funds. They don't have a call-in number. Only chat support. I have been trading with multiple traders and this is the worst of all. You cant talk to them at all. They don't respond to emails.. I'm very frustrated..

Reply by octafx rep submitted nov 20, 2020 dear shaziya shaikh,

Thank you for taking the time to share your experience with us. We're sorry to read that you had trouble depositing your funds at octafx. We've looked into your review, and as we can see, it is still being investigated by our financial department. We can also see that you've recently mentioned on social media that one of the transactions got back successfully, but there's still one missing. We're extremely sorry that it's taking so long, and we apologize for all the inconvenience you may have faced as a result. Please note that we’re still exchanging with the payment processor and are waiting for updates to provide you with as soon as new information reveals itself.

We wish to assure you that we’re committed to resolving this issue as soon as possible but want to ask you to allow us a bit more time. We understand how uncomfortable you may feel about the matter, and we want to tell you that we take it very seriously. We'll do everything that it takes to prevent such cases in the future and reduce the processing times. Please bear with us and remember that our customer support is constantly checking your case and they will be more than happy to provide you with the latest details.

We're looking forward to hearing from you soon. And we hope that it won't take much time to receive your funds back.

We deeply regret to read about your dissatisfaction with our services. We'll be more than happy to receive feedback from you about what could be improved, considering that the issue with swaps has been resolved and you were compensated.

As for the partial order closure, we're aware of the issue. However, it's not something we could influence and fix immediately as it would require an extensive amount of time and effort once such feedback is passed to the relevant department. However, we want to ensure you that we take your suggestions and recommendations very seriously, and we'll make sure they're all addressed and considered by our team.

We would also appreciate it if you could share what could be improved regarding our customer support services to meet your standards. It's one of our top priorities to ensure that we provide the most convenient trading experience to our customers and everything is done to your satisfaction.

Please send us a message anytime soon. Our team is always here for you, and we'll be happy to hear from you whenever you have any questions.

Octafx review

Octafx is a new forex broker. I noticed it in the year 2013. When I saw a high alexa ranking, less than 40 000, for this broker. Octafx company is based in saint vincent and the grenadines. The main platform is metatrader 4 with all additions for android, windows, and other cell phones.

What I like here :
1) mt4 platform
2) great support and chat
3) this broker offers multiple deposit withdrawal options such as skrill, neteller, bank wire, fast pay, credit cards, etc. You can deposit even $5 at micro-accounts. There are no high limits for deposit and withdrawal.
4) excellent user area – personal area section. Here you can easily make requests, track whole your accounts, rebates, etc.

Octafx promotion – win a free car
octafx “win a free car” promotion is a special promotion at the end of 2020. All real account traders that own micro account can win in this competition. The trader with biggest gain, win the prize.

See personal area octafx for payment – excellent design:

Trusting a new broker with your deposit always brings a lot of questions, especially if you are new to this sort of business. Therefore, we should find all the sources about the broker that we want to trust with our money.
Global banking and finance review has awarded octafx broker that was the fastest-growing 2012, with the fastest growing micro forex broker award in 2012.
Micro forex broker is dealing with micro-accounts. The popularity of micro accounts among investors is there due to the allowance of small amounts of stock to be sold and bought in one package, as the size of the lot is up to a thousand units. In comparison with mini accounts, which have ten thousand units, this really is micro. Standard accounts count up to a hundred thousand units.
The official octafx website offers lots of optimism. Should you skip thorough reading and analyzing, you could miss seeing some “bugs” that are to be found there. Octafx tries to focus on novice forex traders and they offer interesting options to that group.
Well, especially newcomers are to be careful, always, with everything.

The first thing that points out as “suspicious” is that the minimum deposit they offer is of 5USD, which is not realistic. Regardless is it micro, or mini-micro account, it is too low to be possibly dealt with. When it’s the standard account, in order to develop a strategy with regular risk conducting procedures, the minimum deposit should wary around 1000 USD. Compared to that, in the micro account, that should be compared to 10USD of a deposit.
Because of that, octafx gives a bonus account of 8USD for novice users to get started. You can withdraw your profits upon closing 2 lots.

It is not visible on their website if they had any re-quotes besides their claim that they don’t. But there is nothing to really support that claim they displayed to readers on their webpage.
Their micro account had only 12 currencies to offer, and their next account was some ECN account that had the minimum deposit of 50USD. The platform they operate with is metatrader 4, which is not necessarily bad if conducted right, but since there was no ECN bridge it was very confusing and definitely not satisfactory to potential clients. Especially to those who are careful enough to thoroughly exam everything before depositing their money to this broker.
At least, they should have open information, displayed for newcomers to see about their services.

Whatever the reason for hiding certain information and the lack of transparency is, they should offer more insight for potential clients. This is the way that possibly closes the door to people whose money you want to be deposited on your accounts.

Whoever only works with newcomers, one of the reasons might be that the novice traders might not be informed about the business enough and possibly could be false guided to waste money and to “invest” wrongly. Therefore, whoever is not transparent about their services should not be trusted. And please, if you are new to online trading, research well before you invest. Even if it’s 5 USD, with which you cannot gain anything anyway, even if you trade well with it.

OCTAFX

OCTAFX BROKER REVIEW

OCTAFX REVIEW AND INFORMATION

Is OCTAFX a safe and reliable broker? Is OCTAFX.COM a good forex broker? Find the latest trader’s reviews for OCTAFX, get the details and information of OCTAFX trading broker. Find out all about initial deposits, regulations, features, platforms, customer support and much more when trading with OCTAFX broker.

OCTAFX RATING REVIEW

Octafx

Octafx is one of those forex brokers that have an excellent reputation in the financial markets due to their unique service offering, which caters to the different requirements of a wide variety of retail traders.

Octafx was founded in 2011 and offers forex ECN trading, as well as CFD trading on indices, metals and cryptocurrencies, across the metatrader and ctrader suite of trading platforms for windows desktop, web (windows and mac) and mobile (android and ios), as well as their own octafx trading app.
Octafx is recognised globally for offering the lowest spreads in the industry and prides itself on its award-winning trading conditions. Octafx is an excellent provider of CFD and forex trading to clients in over 100 countries. The broker uses separate accounts to keep protected customers funds segregated from the company’s balance sheets.

OCTAFX is built for those who want to day-trade currencies at high leverage and low minimum deposits. The services and features offered by octafx are designed for both beginner and professional traders, with access to micro, pro and ECN accounts, as well as the octafx copy trading programme and an impressive range of education and trading research tools including autochartist.
Accounts can be opened with a balance of just $5 and leverage is available as high as 1:500. This means that anyone can open an account on octa markets without needing to worry about high barriers to entry in order to engage in currency trading.

Octafx seems to be highly committed to ensuring an excellent result in customer satisfaction and client retention. They really care about their clients and their customer support team is proven to be the most helpful and professional in the industry. In addition, their bonuses and competition offers are worth mentioning as well.
Octafx proves to be highly proactive in eradicating consumer complaints by actively working with their clients and ironing out issues through amicable means. They offer exhaustive education section and free demo account with exactly the same conditions and execution speed as the real one. It comes in handy for beginners or those who want to test-drive octafx services without risking personal funds.

Top 2020 events that affected the market the most according to octafx

Octafx, a forex broker that provides online trading services worldwide has come up with an exclusive list of top events that affected the market in 2020.

Forex 2020 – octafx

Rising of coronavirus cases

Investors were watching the spread of the then-unknown disease in china closely earlier this year. How a leading east asian country is handling this problem was of crucial importance. It turned out later that the newly titled coronavirus would not only affect china but soon the entire world. The rising numbers of people in the united states and europe being infected with and dying from this horrific virus led investors to panic, which impacted the currency, stock, and commodities markets.

OPEC and OPEC+ agree on the largest output cut in history

One of the first assets that experienced the impact of the pandemic was crude oil. On 8 january 2020, the price of ‘black gold’ already fell from the level of 70.75 dollars per barrel of brent down to 64.38 dollars per barrel, which is almost 9% in a single day. However, the most severe collapse in the entire history of the oil market occurred transitioning from march to april.

Approval of a stimulus package for the U.S. Economy

After the oil, the stock market followed suit spiralling down soon after. Hence, in the period from 20 february to 23 march this year, one of the most popular stock indices in the world, the SPX500, fell to the level of 2,172 USD. This amounts to an almost 36.5% decrease. As a reminder, SPX500 includes 505 selected public companies traded on american stock exchanges with the largest capitalisation.

Gold reaches all-time highs

The gold market struggled immensely at the beginning of the year. Although, since the second half of march, the precious metal has shown steady growth, starting from the level of 1,450 to 2,080 dollars per ounce by the beginning of august, which amounts to almost 43% in gains.

Second coronavirus wave enters the stage

At the end of august, disturbing reports flooded the headlines with an ongoing epidemic that followed what seemed to be a calm summer. The total daily increase of infected people in september throughout october exceeded the peak in may by two or three times. In november, several european countries, such as the united kingdom, france, germany, italy, and greece, again announced regional lockdowns and began applying strict sanitary measures.

All this significantly affected bitcoin, which has risen from the levels of 9,700-10,500 USD to a historic record high of 19,920 USD since the beginning of september, before going even further in december by reaching 24,000 USD.

Coronavirus vaccine discovery

In august, mass media reported that authorities in russia registered the first coronavirus vaccine. Positive news like this led to a sharp decline in the prices of gold, which previously reached the earlier mentioned unheard-of high of 2,080 dollars per ounce. This would make sense since gold is usually purchased when critical situations occur in the world, such as an uncontrolled pandemic, large-scale war, or political uncertainty.

In merely two days, from 11 august to 12 august, the yellow metal lost almost 8.3% in value, sinking its price to 1,862 dollars per ounce. Subsequently, in november, the three largest companies in pfizer (together with biontech), moderna and astrazeneca announced the successful final phases of testing their coronavirus vaccines.

United states presidential election

The 2020 U.S. Presidential election, held on 3 november, is recognised as the most controversial in history. As usual, two candidates emerged in the final race. Donald trump again represented the U.S. Republican party in hopes for a second term in office. His democratic counterpart, former vice president and U.S. Senator joe biden, was challenging trump’s re-election.

The OPEC / OPEC+ december agreement

The approval of new parameters within the OPEC / OPEC+ deal was a significant reason for optimism in the oil market in early december. According to the previous agreement, which the member countries accepted amidst the price collapses taking place almost a year ago, they expected the quota for their oil production to increase by almost 2 million barrels per day from 1 january 2021.

The brexit trade deal

The E.U. And the U.K. Have pledged to sign a deal on trade and security that will finalise the U.K. Leaving the european union by 31 december 2020. According to a study by the german economic institute IFO, the U.K. Will suffer more financial losses as a result of brexit than the E.U. Currently, both sides are focused on an agreement to develop a mechanism to ensure that neither side can distort trade by undermining european standards. Up to that point, negotiations on the post-brexit trade deal between london and brussels have been stalling for several months.

Octafx releases list of top 2020 events that affected the market during COVID

Datalend – $7.66 billion in revenue generated in lender-to-broker securities lending market in 2020

Cryptocurrency news at octafx: trading upgrades and new entries (BCH & XRP)

Artprice looks at five “positive anomalies” on the art market in 2020

2020 has become a great challenge for millions of people on the planet. However, from the traders point of view, the crisis gives great opportunities for making money, too.

In hindsight, the value of almost all FOREX trading instruments has fallen significantly over this year. Most currency pairs and commodities have updated their historic lows and are still experiencing high volatility, which, with the right approach, can be exploited to make a profit. From the viewpoint of fundamental and technical analysis, the upcoming 2021 will be the year of recovery for the global economy. In turn, traders will have numerous opportunities to make lots of profitable orders.

Octafx UK review 2021

	octafx offers multi-asset trading on a range of platforms and mobile solutions.
Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Octafx also gives traders access to 3 cryptocurrencies: BTC, LTC and ETH.

Octafx summary

Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Ratings

CFD trading

Trade on the financial markets with cfds.

FTSE spread	1.8
GBPUSD spread	1.1
oil spread	1.1
stocks spread	variable

Forex trading

Octafx offers leveraged trading on currencies.

GBPUSD spread	1.1
EURUSD spread	0.7
EURGBP spread	2.1
assets	28

Cryptocurrency trading

Trade popular digital currencies at octafx.

Spread	variable
coins	BTC, LTC, ETH

Payment methods

Octafx accepts the following payment methods:

Bitcoin

Perfect money

Worldpay

Western union

Moneygram

Paysafecard

Awards

Octafx is an award-winning broker, with 8 awards received so far.

Best ECN/STP broker 2019 - fxdaily info

Best forex broker asia 2019 - fxdaily info

Best forex broker asia 2018 - global banking & finance review

Best FX broker 2018 - european CEO magazine

Best trading conditions 2018 - european CEO magazine

Best copy trading platform 2018 - forex-awards.Com

Best forex ECN broker 2017 - UK finance awards

Best trading conditions 2016 - forex report magazine

Octafx vs other brokers

If you want to compare octafx with other brokers, use the detailed comparisons below.

Otafx

«back to home

Octafx releases list of top 2020 events

ANI
29 dec 2020, 21:37 GMT+10

New delhi [india], december 29 (ANI/newsvoir): octafx, a forex broker that provides online trading services worldwide has come up with an exclusive list of top events that affected the market in 2020.

Rising of coronavirus casesinvestors were watching the spread of the then-unknown disease in china closely earlier this year. How a leading east asian country is handling this problem was of crucial importance. It turned out later that the newly titled coronavirus would not only affect china but soon the entire world. The rising numbers of people in the united states and europe being infected with and dying from this horrific virus led investors to panic, which impacted the currency, stock, and commodities markets.

OPEC and OPEC agree on the largest output cut in historyone of the first assets that experienced the impact of the pandemic was crude oil. On 8 january 2020, the price of 'black gold' already fell from the level of 70.75 dollars per barrel of brent down to 64.38 dollars per barrel, which is almost 9% in a single day. However, the most severe collapse in the entire history of the oil market occurred transitioning from march to april.

Approval of a stimulus package for the U.S. Economyafter the oil, the stock market followed suit spiralling down soon after. Hence, in the period from 20 february to 23 march this year, one of the most popular stock indices in the world, the SPX500, fell to the level of 2,172 USD. This amounts to an almost 36.5% decrease. As a reminder, SPX500 includes 505 selected public companies traded on american stock exchanges with the largest capitalisation.

Gold reaches all-time highsthe gold market struggled immensely at the beginning of the year. Although, since the second half of march, the precious metal has shown steady growth, starting from the level of 1,450 to 2,080 dollars per ounce by the beginning of august, which amounts to almost 43% in gains.

Second coronavirus wave enters the stageat the end of august, disturbing reports flooded the headlines with an ongoing epidemic that followed what seemed to be a calm summer. The total daily increase of infected people in september throughout october exceeded the peak in may by two or three times. In november, several european countries, such as the united kingdom, france, germany, italy, and greece, again announced regional lockdowns and began applying strict sanitary measures.

Coronavirus vaccine discoveryin august, mass media reported that authorities in russia registered the first coronavirus vaccine. Positive news like this led to a sharp decline in the prices of gold, which previously reached the earlier mentioned unheard-of high of 2,080 dollars per ounce. This would make sense since gold is usually purchased when critical situations occur in the world, such as an uncontrolled pandemic, large-scale war, or political uncertainty.

United states presidential electionthe 2020 U.S. Presidential election, held on 3 november, is recognised as the most controversial in history. As usual, two candidates emerged in the final race. Donald trump again represented the U.S. Republican party in hopes for a second term in office. His democratic counterpart, former vice president and U.S. Senator joe biden, was challenging trump's re-election.

The OPEC / OPEC december agreementthe approval of new parameters within the OPEC / OPEC deal was a significant reason for optimism in the oil market in early december. According to the previous agreement, which the member countries accepted amidst the price collapses taking place almost a year ago, they expected the quota for their oil production to increase by almost 2 million barrels per day from 1 january 2021.

The brexit trade dealthe E.U. And the U.K. Have pledged to sign a deal on trade and security that will finalise the U.K. Leaving the european union by 31 december 2020. According to a study by the german economic institute IFO, the U.K. Will suffer more financial losses as a result of brexit than the E.U. Currently, both sides are focused on an agreement to develop a mechanism to ensure that neither side can distort trade by undermining european standards. Up to that point, negotiations on the post-brexit trade deal between london and brussels have been stalling for several months.

2020 has become a great challenge for millions of people on the planet. However, from the trader's point of view, the crisis gives great opportunities for making money, too.

This story is provided by newsvoir. ANI will not be responsible in any way for the content of this article. (ANI/newsvoir)

so, let's see, what we have: octafx offers leveraged trading on multiple asset classes. For promo codes, platform details and copy trading, see our review. Login today. At otafx