OctaFX Broker Reviews And Ratings 2019

Since founded in 2011 OctaFX have earned positive reputation from online traders. Some accused about their withdrawal process and speed of their customer support services and you will get the reviews here.
( 1 )
All major platforms available
Regulated Broker
U.S. Clients
All common payment system available

"Octa Markets Incorporated" formerly known as OctaFX offers 47 instruments for traders including forex, CFDs (10 indices, 3 cryptos, 4 metals, 2 energies) via MetaTrader Software and cTrader platforms since 2011. The brokerage is based in St. Vincent and The Grenadines. As this article is a part of the series forex brokers review you will learn -

  • Who are OctaFX?
  • Is OctaFX is reliable?
  • What experience you might have
  • Trading opportunities on OctaFX
  • Trading difficulties on OctaFX

Since the establishment, they have already gained good experience to provide their Forex trading services all over the world except some countries. One of the interesting things is OctaFX claims to offer the lowest spread cuts among forex brokers. To provide the best trading experience to their customers they use the most up-to-date software system. It seems the brokerage authority is striving to catch the top position among other brokers, especially their aspects of improving user experience. If you look carefully about OctaFX being care about - it is their high standards.

octafx review website review

OctaFX Trading Platforms

OctaFX offers three different trading platforms for their clients. Allowing for unlimited access from desktop and mobile device. Since the starting, OctaFX provided access to the highly popular MetaTrader 4 trading platform. The firm also has “cTrader” one other standard terminal in forex trading.

OctaFX offers mobile trading applications which can be used while traders on way. Google Play store and iOS app store has the trading software to download. These mobile apps allow traders to trade the markets directly from their smartphone with powerful features.

octafx trading platforms

OctaFX Instruments to Trade With

OctaFX offers a good number of options as trading instruments for their clients. In the case of forex, they offer almost all Major, Minor and Exotic pairs in common. For cryptocurrency traders - they have 3 pairs

  • Bitcoin vs. US Dollar
  • Ethereum vs. US Dollar
  • Litecoin vs. US Dollar

Metals, Energies instruments are available for commodities and for Index & Stock CFDs they are offering German + Japanese shares.

OctaFX's Spreads and Fees

Alike other Forex brokers, OctaFX have spread cuts to their customers. OctaFX spread and fees

For the complete list please visit OctaFX website. As a non-dealing desk broker, they can guarantee very tight spreads from 0.4 pips without re-quotes and slippage. Leverage up to 500:1 is also offered, even on small micro lot positions.

Type of Accounts on OctaFX

Trading accounts at OctaFX are mainly 3 different types following the trading platforms preferred by the traders.

MICRO

Designed for new traders and have following features -

  • MetaTrader 4
  • Swap free
  • 100 USD Minimum deposits
  • 28 currency pairs
  • Gold and silver
  • 4 indices
  • 3 cryptocurrencies
  • Leverage: Up to 1:500 for currencies
  • Leverage: 1:200 for metals
  • Leverage: 1:50 for indices
  • Leverage: 1:2 for cryptocurrencies
  • Spreads: Floating, starting at 0.4 pips
  • Fixed spreads start at 0.2 pips and only available for accounts with USD as an account currency
  • CFD enabled

PRO

This type of account is for experienced traders. Take a look at its features.

  • MetaTrader 5
  • 500 USD Minimum deposits
  • 28 currency pairs
  • 4 Metals
  • 2 energies
  • 10 indices
  • 3 cryptocurrencies
  • Leverage: Up to 1:200 for currencies
  • Leverage: 1:200 for metals and energies
  • Leverage: 1:50 for indices
  • Leverage: 1:2 for cryptocurrencies
  • Spreads: Floating, starting at 0.2 pips
  • CFD enabled

ECN

This type of account is interesting and recommended by many traders.

  • cTrader platform
  • Spreads: Floating, starting at 0 pips
  • 100 USD Minimum deposits
  • 28 currency pairs
  • Gold & Silver instruments
  • Leverage: Up to 1:500 for currencies
  • Leverage: 1:200 for metals
  • More or less risk-free trading

All above account types have USD or EUR as deposit currency have following facilities

  • Swap free
  • Instant Execution
  • 5 digits precision pricing
  • Hedging & Scalping allowed
  • Expert advisors tool usage allowed for traders

Deposits & Withdrawals Methods at OctaFX

Skrill (MoneyBookers) and Neteller are accepted by OctaFX. These online payment method allows traders to upload funds immediately. They also support bitcoin as payment withdrawal system and as a deposit method too.

Clients can withdraw their capital throw Skrill and Neteller both. For Indonesian and Malaysian traders, they offer local bank deposits.

Copy trading

One of the most encouraging opportunity offered by OctaFX is Copytrading. Copy trading is an opportunity to automatically copy leading traders actions and forget about long hours of building client trader's own trading method.

Trading is tricky and often it's a way to fall down to lose money. But if you can trade in real time from who is more experienced in trading that won't be a loosing game for you, perhaps. OctaFX lets you benefit from the experience and knowledge of better traders in their CopyTrading platform.

According to OctaFX

  • More than 20% monthly gain as return
  • Start earning with as low as 5 USD
  • The best traders with advanced knowledge
  • Trade from the website or Mobile App. No complicated software or downloads

Customer Support at OctaFX

Customer support at OctaFX is 24 hours in business days (from Monday to Friday). Live chat support is available as well as you can contact through mail or tel. Supports can talk English and also available in 3 other languages Indonesian, Spanish and Polish.

For their customers, the broker also provides market news, economic research, and an economic calendar to trade with the perfect opportunity.

Forex Real Contest at OctaFX

OctaFX have most popular Forex Live Contest among other forex brokers. They are promised and loyal to their clients as far as its known.

Experience at OctaFX

As mentioned earlier - since founded in 2011 OctaFX have earned a positive reputation from online traders. Some accused about their withdrawal process and speed of their customer support services and. As these issues are serious and need to be careful for us and obviously for individual traders - we have inspected those issues and found no big troubles. A broker could go wrong at any time - no guaranty at all actually that is why we're still keeping our eye on top forex brokers.

One of our user told about them -

I trade with OctaFX, as they have the cTrader trading platform, where i am able to trade smoothly with all my trading orders executed instantly without any unexpected changed quote happening. While I try trading in news I find this comfortable which makes it better for me. I've recently had some issue with withdrawal but their customers service helped me nicely and much words, so i would give them 8/10 marks!

Can I Trust and Trade OctaFX

As a recommended point of view - this broker will suite for you if you have optimal requirements in leverage and deposit. For the issue about trust - the broker have no top-level regulation for claiming any misconduct and or money-losing issue.

Most recent years - the broker is looking for new traders as well as regular traders. Especially their cTrader trading platform is considered to be a handy tool for a particular guy. Execution and spreads are good enough though the brokerage still have a limited number of deposit methods.

Good Things About OctaFX

Especially in Asian markets, the broker got their market on the largest scale. MT4 & MT5 is traded mostly in India, Indonesia, Malaysia, Hong Kong, Japan, Singapore, and Arab peoples. When you see trade execution with ultra speed on their MT5! Indian subcontinent traders and far-east traders love OctaFX and most of them interested in scalping as they find it is useful with high-speed execution rate.

Final Thoughts About OctaFX

OctaFX broker is one of the most popular CFDs and Forex broker in the globe. The broker have charming fame in Indonesia as they have sponsored some sports. Especially 2015-16 they have sponsored "RIP CURL CUP" and in England, they sponsored SOUTHAMPTON FC.

octafx at southumpton fc

If you want to trade at OctaFX you may find positive factor is its support for the cTrader platform which offers some exciting and innovative features.

As the fact - they support only FX currencies and some precious metals, so those clients who wish to trade more commodities, indexes, and stocks, others will not find useful.

Please sign in to make comments.

  • Trending market news & market moves
  • Forex Forecast & Analysis
  • Experts opinions
  • Upcomming Webinars & Seminars
Subscribe to Our Newsletter