Okta fx

Withdrawal ID 1927033
created dec 29, 2020 08:00 PM
processed on dec 29, 2020 09:42 PM as for the partial order closure, we're aware of the issue.

New forex bonuses

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.

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.

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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.

Maximum leverage 500 times！
for FX 「octafx」

Deposit bonus 50%

Special campaign for new customers

Only now, we offer a special campaign for a limited time only for those who open an account for the first time.
After opening a new account, you will get a 50% deposit bonus every time you deposit.

Low spread

Reliable FX broker

Bonus per transaction

With zero cut system

Prepare your own platform

Equipped with original platform

Only now, we offer a special campaign for a limited time only for those who open an account for the first time.
After opening a new account, you will get a 50% deposit bonus every time you deposit.

Why choose octafx?

Many customers choose octafx for a reason.

Set low spread

Because octafx has a low spread, traders can trade on superior conditions. Please use octafx by all means if you choose at a low fee.

Safe thanks to the zero-cut system

In octafx, minus more than the deposit amount does not occur. The zero cut system is adopted. Therefore, even beginners can trade with confidence.

Various brands are available

Octafx can trade not only foreign exchange but also products such as stock indices and oils. You can choose your investment from a wide range of options.

Financial license holder

Octafx has a financial license, so you can trust it.

Octafx holds the「"saint vincent IFSA license # 19776IBC2011」.|terms of service

Octafx is completely owned by "octafx"

【RISK WARNING】forex and CFD trading has a very high risk of losing investment. Please read and understand the risk disclosure carefully. Because octafx is not under the supervision of JFSA (japan financial services agency), it does not engage in any activities that may be considered as offering financial products or soliciting financial services, and this website is not intended for residents of japan.

Octafx

Limited payment options

Apps not very user-friendly

Slightly geared towards clients in southeast asia

Min deposit

Max leverage

Mini account

Bonus

Platforms

Withdrawal options

Review

Comparison

Review

Introduction

Ocatfx is one of the most well-known cfds and forex brokers in the world at present. Started in 2011, this company has been incorporated in the financial markets of the grenadine islands and sy vincent. Keeping the asian financial markets as its main service area, ocatafx has based in jakarta, indonesia. This platform has clients originating from over 100 nations around the world. It is important to note that the UK’s financial conduct authority considers octafx as a legitimate and regulated brokerage.

Trading conditions

Discover the lowest spreads in the entire industry

Octafx traders are able to executive lightning trades at visible prices without any slippage.

Negative balance risk mitigation

Octafx does not charge any commission on services including making deposits or withdrawals. It also does not change a transaction fee for currency exchanges.

Types of accounts on octafx

Octafx offers three different types of accounts:

This account type is meant for traders who wish to have the maximum leveraging options with the least monetary investment. The minimum deposit required to start this type of account is $50.

This account is meant for those with a good understanding of forex and a willingness to invest for larger profits. This account offers the lowest spreads which allow for the maximum length of trade options. You can also engage in CFD trading from this account.

This account type is for professional traders who can make prudent investment decisions. It offers a great deal of mobility as it requires no markup and provides ample liquidity access. For traders looking to earn big, ECN is the right option.

Products

Octafx basically offers two types of trading options – spot market trading and contract for difference or CFD trading. Traders can invest in a range of options on octafx including currency pairs, cryptocurrencies, stocks, market indices, precious metals, and other commodities. This combination of financial investment options allows for great profit potential. Investors can benefit from trading on the most popular market indices such as NASDAQ, eurostoxx 50, dow jones etc.

At present, octafx can support three primary cryptocurrencies – bitcoin, ethereum and litecoin.

Traders on octafx can also use cfds to access trading on stock indexes.

Regulation

As stated earlier, octafx is under the regulatory oversight of the financial conduct authority of the UK. This is one of the most stringent regulatory models in the forex industry. The company was established in 2011 under saint vincent and the grenadines IBC 2011 and granted the license number 19776. The company is in full compliance with international financial regulatory standards.

Platforms

Metatrader4

Octafx allows traders to select from a number of platforms for the biggest cross-section of trading preferences and levels. This platform has a very easy to understand setup and offers inbuilt expert advisors as well as customizable indicators.

Metatrader 5

An increasingly popular platform on octafx, MT5 has been considered by many as a potential replacement for MT4. In addition to the MT4 features, it provides a far more customizable interface, stop limit orders and native economic calendar.

Ctrader is the top-level trading platform for ECN brokers. Naturally, it provides level II quotes, server trailing stops, single-click trading and sophisticated charting options. It utilizes cloud servers to back up accounts and keep a centralized tab on all of them.

Mobile trading

Octafx is also available on mobile and has dedicated apps for both ios and android. There is virtually no performance difference between these mobile apps and desktop apps. Traders can easily use them to make trades while on the move.

The octafx trading app is an officially acknowledged forex trading software. It permits all financial transactions available through conventional desktop apps. Users can access the in-app settings to control their octafx trader profile and all activities related to that account. The apps provided fulfill the needs of traders, but we have seem apps from other brokerages that have been easier to use.

Pricing

Octafx has a commission model based on trading. The actual commission charge is based on a mixture of standard prices and markup spreads. For ECN accounts, the charge is 3 cents per 0.01 lot. The table below provides a general idea of the spreads typically seen across octafx’s platforms.

Instrument

Spreads (in pips)

Deposits & withdrawals

Octafx offers multiple channels for investment including credit/debit cards, bank wires, skrill, neteller etc. Traders from specific countries can also opt for local bank transfers. Octafx is constantly adding new payment methods. The deposits must be in USD or EUR and must be at least $5 or equivalent for micro account balances.

For withdrawal requests, the processing time is almost instantaneous and validated through an email. However, this will only happen provided personal information about the withdrawer in available and verified. As per the international anti-money laundering laws, forex brokers need to follow specific rules and octafx complies to them all.

In addition, octafx also keeps user funds distinct from that of the company. Thus, it is in compliance with international forex trading standards. Further, it uses an authentication model through 3D secure technology for extra protection to online payments.

Customer support

Octafx offers customer service round the clock on all workdays i.E. 24/5. Customers can choose between email, direct change and free calling options. The company will also provide a range of market new along with research and economic calendar.

Research & education

Octafx offers several trader tools such as an economic calendar, market insights, forex news, profit calculator, trading calculator, monitoring, live quotes, interest rates, and national holidays. More tools include:

Signals: these tools include MQL5 community settings, signal settings, signal subscribers, and signal providers.

EAS: EAS tools include tester parameters, code basetoolbox, experts tab, experts advisors launch, expert advisors setup, expert advisors shutdown, and autochartist installation manual.

Noteworthy points

· octafxcopytrading provides traders the chance to directly mimic the investment patterns of successful traders. This strategy is a failsafe against customized trading practices and ensures a reasonable degree of success.

· octafxhas been a supporter of the bali sports foundation which takes care of disabled sportsmen in bali and east indonesia.

· octafx supported rip curl cup padang-padang event in bali, indonesia.

· from july 1st, 2015 to 30th june 2016 octafx sponsored of southampton FC, a top-level football club in the UK.

Awards won by them:

· best trades execution 2017

· best trading conditions 2017

· from european CEO magazine

· best forex ECN broker 2017

· most transparent broker 2017

· from european CEO magazine

· best trading conditions 2016

Conclusion

Octafx has a truly impressive array of features and options to offer to traders. Their personal support is also genuine and customer care executives seem to eagerly resolve client queries and problems.

Additionally, their competitions and trading bonuses add an edge to their brokerage. Most other forex brokers do not offer such benefits. For novice and even experienced brokers, octafx offers a wide range of educational materials.

Novice traders also have the option of honing their skills with demo accounts which perfectly mimic live trade conditions.All in all, octafx is a very viable forex brokerage that offers a good experience and can be used profitably by smart traders.

Comparison

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A comparison of commissions: octafx, pepperstone & cityindex

When picking an online broker to invest with, you’ll want to take a close look at their fees, charges and commissions. Some brokers offer a zero-commission model, which sounds like a big positive, but brokers have to make money somehow. A no-commission broker generally takes a profit from the spreads, and might also levy other account charges.

Take the time to check commission charges carefully when you’re making a broker comparison. Today we’re comparing commissions at three popular online brokers: octafx, pepperstone and cityindex.

Octafx

Octafx offer a commission free model when you trade with them using their MT4 and MT5 platforms. This means you don’t have to worry about commission charges on these platforms, but do keep an eye on the spreads. As already mentioned, that’s how you pay your broker fees, when you trade commission free.

Octafx do charge commission when you trade using their ctrader platform. Trading commission on ctrader is USD0.03/0.01 lot for most major forex pairs such as EUR/USD and GBP/USD. Remember, there will also be spreads to consider, alongside the commission fee, so factor all costs in to avoid any unpleasant surprises.

Pepperstone

At pepperstone, commission charges depend on the type of account you open, the platform you use, and what you are trading. With the standard account, there are no commissions. With the razor account, you will pay a small commission, which will be reflected in the fact that spreads will generally be considerably lower. In fact, pepperstone boast that during times of high liquidity, spreads can go as low a 0 pips with your razor account, on many popular forex pairs.

The razor account, however, charges a set commission fee of $3.50 for each standard lot that you buy, and a further $3.50 when you sell. This is calculated pro-rata for those trading mini lots or micro lots. Pepperstone, like octafx, also charge a commission when you trade with ctrader (as opposed to using the MT4 and MT5 platforms). The ctrader commission is charged at 3.5% of the base currency being traded.

Cityindex

With cityindex, commissions will again depend on a number of factors. This broker operates a commission free model on most contracts for difference (cfds), forex trading and spread betting. With these instruments, broker profits will be taken from the spreads.

They do, however, charge a commission on CFD equities, which vary by market. For most UK and european equities, there is a 0.08% commission, and for most asian equities it is 0.2%. There is variation between equities, markets and platforms, so it is important to check commission rates within the market information sheets which can be found on each trading platform.

Things to remember

We hope you found our comparison of commission fees helpful, but remember commissions are just one type of fee, and it’s important to assess all the costs you’re likely to incur with any online broker. Factor in the spreads on top of commission fees, where necessary, and also look for other hidden fees such as administration, inactivity or withdrawal fees.

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Your next move…

Find your broker trading carries risk. There is no getting away from that. Making the right choice of broker and platform will help you trade better and combined with experience, tools, research and a helping of luck your trading adventure could take you places you only ever dreamed of.

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Nothing on this site constitutes advice or a recommendation – you use the site and its contents at your own risk. Trade wisely. Spread bets and cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading cfds.

Octafx review and tutorial 2021

Go to the brokers list for alternatives

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 2020

Octafx summary

Who is octafx

Octafx is an online financial service provider that was created in 2011, with a head office in st. Vincent and the grenadines. They are also approved and regulated by cysec, and can fully provide services to clients from the european union. In this octafx review we will mention some of the rich and unique features that cannot be found in most brokers.

Octafx offers FX spot trading, along with cfds trading on cryptocurrencies, indices, metals and commodities.

They support trading platforms such as metatrader and ctrader, which are available on web, mobile, and desktop. Octafx also has their own mobile trading application.

Octafx has a website that is approved by the cyprus securities and exchange commission, also known as cysec that is under the octa-markets cyprus ltd.

The brokerage firm is headquartered in st. Vincent and the grenadines, which means it can offer a range of services to clients from around the globe. Because of this license, traders who choose this broker have the benefit of enjoying higher leverage and unrestricted bonus promotions.

The financial services and elements that are part of what octafx offers are made available for both novice and expert traders. For that reason, they have three types of accounts that accommodate every level of trading.

New clients who will open a new account with octafx are going to face different options because of limitations on promotions and leverage from the recent regulatory requirements of ESMA.

Octafx

Limited payment options

Apps not very user-friendly

Slightly geared towards clients in southeast asia

Min deposit

Max leverage

Mini account

Bonus

Platforms

Withdrawal options

Review

Comparison

Review

Introduction

Trading conditions

Discover the lowest spreads in the entire industry

Octafx traders are able to executive lightning trades at visible prices without any slippage.

Negative balance risk mitigation

Octafx does not charge any commission on services including making deposits or withdrawals. It also does not change a transaction fee for currency exchanges.

Types of accounts on octafx

Octafx offers three different types of accounts:

This account type is meant for traders who wish to have the maximum leveraging options with the least monetary investment. The minimum deposit required to start this type of account is $50.

Products

At present, octafx can support three primary cryptocurrencies – bitcoin, ethereum and litecoin.

Traders on octafx can also use cfds to access trading on stock indexes.

Regulation

Platforms

Metatrader4

Metatrader 5

Mobile trading

Pricing

Instrument

Spreads (in pips)

Deposits & withdrawals

Customer support

Research & education

Signals: these tools include MQL5 community settings, signal settings, signal subscribers, and signal providers.

EAS: EAS tools include tester parameters, code basetoolbox, experts tab, experts advisors launch, expert advisors setup, expert advisors shutdown, and autochartist installation manual.

Noteworthy points

· octafxhas been a supporter of the bali sports foundation which takes care of disabled sportsmen in bali and east indonesia.

· octafx supported rip curl cup padang-padang event in bali, indonesia.

· from july 1st, 2015 to 30th june 2016 octafx sponsored of southampton FC, a top-level football club in the UK.

Awards won by them:

· best trades execution 2017

· best trading conditions 2017

· from european CEO magazine

· best forex ECN broker 2017

· most transparent broker 2017

· from european CEO magazine

· best trading conditions 2016

Conclusion

Comparison

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Octafx

Predictions and analysis

This pattern has a 90% success rate. So dont miss the breakout. Trade when an upside breakout happens. This is a swing and intraday pick. Note: avoid the stock if a big gap up or gap down is seen enter after the breakout happens and not before it do not chase the market, i.E., do not get involved in late entries only enter with strict stop-loss and target .

The euro has started to firm test towards the 1.1100 level against the greenback as expected, following another round of weakness in the US dollar index. Buyers now need to rally the EURUSD pair above the 1.1110 resistance level to provoke a major technical breakout. Overall, buying any dips lower in the EURUSD pair appears to be the best option while the US.

The US dollar remains under downside pressure against the japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level.

Ethereum is struggling to recover above the $150.00 resistance level, following last weeks sudden drop towards the $135.00 support zone. ETHUSD bulls need to rally the cryptocurrency above the $170.00 level to change the short-term bearish outlook. Ethereum continues to have a high correlation to bitcoin and could trade sideways until BTCUSD bulls return. • if.

The US dollar has fallen back under the 108.90 level against the japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken. • the USDJPY pair is only.

The british pound has moved to a fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside.

Bitcoin is starting to push lower in early wednesday trade after the buyers failed to gain traction above the $7,300 level earlier this week. A bearish head and shoulders pattern remains valid on the lower time frames while price trades below the $7,800 level. Overall, traders may use any pullbacks in price as a chance to short the BTCUSD pair, with the $6,600.

The euro is rising against the US dollar, following comments from US president donald trump surrounding more interest rate cuts from the federal reserve and weak US data. The EURUSD pair needs to hold price above the 1.1045 level to encourage fresh technical buying interest. A daily price close above the 1.1075 resistance level should be considered bullish for the.

Litecoin has failed to receive buying interest above the $50.00 resistance level, placing the emphasis on further downside. With the broader cryptocurrency market remaining under pressure, traders should be aware that a quick drop towards the $36.00 level could occur. Overall, only a sustained move above the $57.00 resistance level can change the short-term.

The british pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level.

The euro is trading back above the 1.1000 level against the US dollar after the pair bounced fairly sharply from the 1.0980 level on friday. A daily price above the 1.1070 level is now needed to confirm that a major technical bottom is in place for the EURUSD. Looking at the downside potential, a daily price close under the 1.0990 level should encourage bears to.

Bitcoin is under slight downside pressure in early week trade after being technically rejected just before the $8,000 resistance level. The BTCUSD pair was rejected from the top of a large falling wedge pattern on the daily time frame, currently located around the $7,800 level. Going, buyers need to maintain daily price closes above the $7,300 level to encourage.

The british pound continues to firm above the 1.2900 level against the US dollar, following a bullish weekly and monthly price close. Technical analysis shows that GBPUSD buyers have the upper hand while price closes above the 1.2890 level on a daily basis. Risk-averse traders may await a move above the 1.3000 level in order to confirm a range break and a.

The euro has once again been rejected from the 1.1020 resistance level against the US dollar, as short-term buyers fail to take back control of the pair. A bullish double-bottom is still in place, although the EURUSD pair could break the november if weakness under the 1.1000 level persists. Going forward, a sustained breakout from the 1.0990 to 1.1020 trading.

The US dollar continues to target towards 110.00 level against the japanese yen as the greenback remains well-supported across the board. The recent high around the 109.60 level provided a signal that the USDJPY intends to push higher over the shor-term. The 110.90 level could be the overall upside objective for medium-term bulls if the 110.00 resistance level is.

Litecoin remains vulnerable to further downside on the cryptocurrency market as buyers struggle to reclaim the $50.00 resistance level. The LTCUSD pair still has the potential to fall towards the $36.00 level before medium-term buyers start to move. A sustained rally above the $50.00 level could see the LTCUSD pair testing back towards the technically important.

The british pound has staged a strong rebound from the 1.2830 level against the US dollar after selles failed to break under the current weekly trading low. Going forward, a series of bullish price close is needed above the 1.2900 level is needed to encourage medium-term buying. A new high above the important 1.2960 level would also be extremely bullish for the.

Bitcoin has staged a strong bounce back from its recent dip under the $7,000 level, with bulls performing a solid breakout above the $7,400 level. Short-term technical analysis shows that a recovery above the $7,400 level could lead to a rally back towards the $8,000 level. Only a sustained decline below the recent swing-low, at $6,850 can negate the possibility.

Octafx

Octafx review

Author bio.

Stéphane has worked in financial services since 2005, within capital markets and investment banking. He graduated from the london school of economics and HEC paris.

Updated on: 15 january, 2021

Awards

Best CFD broker asia pacific, 2020 - CFI.Co

Best ECN broker, 2020 - world finance

Best forex broker asia 2020 - world finance

Pros

Trade on metatrader 4, metatrader 5 or ctrader.

No fees on deposits or withdrawals.

Negative balance protection.

Copy trading platform.

Cons

You cannot buy shares or cryptocurrency (only cfds).

No cfds on commodities, stocks or etfs.

Account base currencies: USD, EUR.

Octafx accounts (2)

Micro account

Trade forex, crypto-currencies, indices and precious metals on fixed or floating spreads. This account, designed for novice traders, supports metatrader 4.

$ 100 minimum deposit

1:500 leverage (EUR/USD) ?

1.1 pips (EUR/USD)

$ 0 commission / lot

More ▼

No dealing desk (NDD), STP, market execution

Fixed and variable spreads

25% margin call (%)

15% stop out level (%)

Hedging, scalping, algorithmic trading

Swap-free account

Less ▲

Open account ▷

Pro account

Trade forex, crypto-currencies, indices, precious metals and energies on tight floating spreads. This account, designed for experienced traders, supports metatrader 5.

$ 500 minimum deposit

1:200 leverage (EUR/USD) ?

0.5 pips (EUR/USD)

$ 0 commission / lot

More ▼

No dealing desk (NDD), STP, market execution

Variable spreads

45% margin call (%)

30% stop out level (%)

Hedging, scalping, algorithmic trading

Swap-free account

Less ▲

Open account ▷

Octafx markets

Trade cfds on currency pairs or diversify across stocks, indices, precious metals and energies:

Forex: trade cfds on the price of 28 currency pairs, which include the majors and well as crosses between the AUD, EUR, GBP, USD and JPY. Trade on metatrader 4, metatrader 5 or ctrader with leverage up to 1:500.

Crypto-currency: trade cfds on the price of 5 crypto-currencies against the US dollar, including bitcoin, ethereum and litecoin. Trade on metatrader 4 or metatrader 5 with leverage up to 1:10.

Indices: trade cfds on up to 10 stock indices, namely the dow jones 30, the NASDAQ 100, the DAX 30 and ASX SPI 200 index. Trade on metatrader 4 or metatrader 5 with leverage up to 1:50.

Commodities: trade cfds on the spot price of gold and silver against the US dollar on metatrader 4 or ctrader. In addition, trade cfds on the WTI and brent crude with metrader 5.

Asset classes

Forex (CFD)

Cryptos (CFD)

Indices (CFD)

Metals (CFD)

Energy (CFD)

Asset classes (#)

Forex (CFD) 28

Cryptos (CFD) 5

Indices (CFD) 10

Metals (CFD) 2

Energy (CFD) 2

Octafx trading platforms

Octafx.Com supports the world's three most popular trading platforms: metatrader 4, metatrader 5 and ctrader. Metatrader 5 offers the widest selection of instruments: 28 currency pairs + 4 metals + 2 energies + 10 indices + 3 crypto-currencies. In comparison ctrader offers the most restrictive choice: 28 currency pairs + gold and silver.

When you create an account with octafx, you can choose to open a live or demo account on any of its platforms. You may also trade from several accounts simultaneously if you chose to.

All platforms are available either through a web-based interface, as a download to your desktop computer or as an app for your android or ios devices.

Octafx offers three trading accounts, each associated with a different platform:

Micro account with metatrader 4: trade with small positions on fixed or floating spreads. This account is designed for novice traders.

Pro account with metatrader 5: trade on tigher floating spreads without commission. This account is designed for experienced traders.

ECN account with ctrader: trade on spreads plus commission. Access level II market depth information, namely the number of lots available across different price points. This account will appeal if you are looking to implement scalping or news trading strategies.

Octafx supports all trading styles without restrictions, including trading bots known as expert advisors on metatrader, and cbots on ctrader. In addition, all accounts enjoy negative balance protection: octafx will reset your balance to zero if it becomes negative after an unsuccessful order.

All accounts are available in islamic format for clients of muslim faith. Pay no interest on positions held overnight. Instead, octafx applies a fixed fee that is not interest and depends on the direction of your position.

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Credentials management

Manage credentials information, such as user name, email and password.

Notifications

Be always informed about changes on your trading account.

Active sessions

View and revoke active sessions. Control which devices are authorized to use ctrader.

Chartshots

Chartshots are a great way to share ideas, trading examples and technical analysis strategies with other traders.

Open API

Build your own applications using ctrader's open API. It’s a free and secure, publicly accessible API for anyone.

Integrations

Ctrader has a solid ecosystem of integrated third-party solutions making it quick and simple to deploy and connect with any existing business.

Community

Be in touch with other traders to get more ideas and succeed in the market together.

Cloud workspaces

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Benefits of having ctrader ID

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Publish your trading performance
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Access to trading robots, additional
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Ctrader desktop

Includes trade & automate for windows 7, 8 & 10

Ctrader web

Includes trade & copy for any popular browser

Ctrader android

Includes trade for android devices

Ctrader ios

Includes trade for apple devices

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