Octafx pakistan

And is it absolute that I always have to withdraw with the method of deposit all the time?

Today forex bonuses

OctaFX; Forex Broker Rating and Review 2021, octafx pakistan.

What if I deposit through my bank card and withdraw through I skrill for certain personally reason and that's the only I can deposit and withdraw would that be impossible? Octafx has first-class customer service, something other brokers could boast about. A representative is available to you 24/7 and they speak your language. When you consider how many countries octafx services, then it becomes even more impressive. Peace of mind may be the most underrated benefit, yet when you need an issue resolved, regardless of the time, octafx is there.

Octafx – forex broker rating and review 2021

status
	octafx UK limited website
regulation	octafx is an umbrella brand used by two independent broker entities. Octa markets cyprus ltd is an investment firm registered in cyprus and regulated by the cyprus securities and exchange commission (cysec) using the domain octafx.Eu. This enables users to trade with a broker under european regulatory oversight with enhanced levels of safeguards. The octafx.Com website is registered under octa markets incorporated established in st. Vincent and the grenadines which permits its clients to take advantage of higher leverage and bonus promotions.
Trading software	metatrader 4/5, MT4/5 mobile for android/iphone, ctrader, ctrader WEB, calgo
headquartered	2 devonshire square, london, england, EC2M 4UJ

Is octafx scam or legit? Octafx is a trusted global broker that offers a user-friendly platform, and a wide selection of tradable instruments. Octafx acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to their clients.

The five octafx benefits

This is why we rank octafx as the best forex broker.

Security. They provide you with a prosperous environment by utilizing the tightest spreads in the industry, providing top market conditions and fixed-rated exchange rates (in some cases). Octafx also offers negative balance protection, the industry’s lowest minimum deposit, no slippage or delays, no swaps, maximum leverage of 1:500, and does not make commission from deposits or withdrawals.

Convenience. Octafx grants local deposit and withdrawal options. Their customer support speaks your language, so it should come as no surprise that they work with local banks and transfer services that enable you to make deposits and withdrawals seamlessly.

Peace of mind. Take comfort in knowing that octafx has won many awards from several forex focused publishers, including an accolade naming them the top broker in asia.

Profit potential. Octafx offers some of the most famous and most lucrative contests. Whether it's for ibs, traders, or demo users, people have been winning huge prizes, like brand new cars, just by trading. There are even weekly random drawings for scooters. They provide a standard 50% deposit bonus, which sometimes climbs to 100% during special events or holidays.

Rewards. Octafx has two unique programs. A free status program, which unlocks a bevy of benefit like even lower spreads, faster withdrawals, and invitations to VIP events. Additionally, you’re awarded incredible gifts just by trading, like macbooks, and all for free.

This octafx forex broker review is meant to help guide those unsure of how to navigate the murky forex waters. Should you focus on who has the best forex app or which broker offers the best copy trade platform? When searching for a forex broker that is right for you, you need to consider several factors, like: are they trustworthy and reliable, what are their fees, how is their platform, do they offer mobile trading, how is their customer service, do they have copy trading services. In this case, we will examine octafx. Is octafx a scam? No, absolutely not.

Octafx has been in the market for years, servicing clients worldwide, but mainly those residing in asia. They're embedded deep within the fabric of society in countries they work with through charitable initiatives. There is not a single forex broker that can claim to be more reliable or trustworthy than octafx.

Octafx has taken home over 35 awards! Most notably, octafx was named the best forex broker in asia (2020), meaning that they are the best forex broker in india, malaysia, indonesia, pakistan, and elsewhere! To top it off, the best forex app belongs to octafx as well, claiming that award back in 2018 when european CEO magazine bestowed upon them that honor. These awards not only signify their respectability, but they denote an opportunity for potential clients to seek refuge with octafx and earn more.

Regulation

Octafx is an umbrella brand used by two independent broker entities. Octa markets cyprus ltd is an investment firm registered in cyprus and regulated by the cyprus securities and exchange commission (cysec) using the domain octafx.Eu. This enables users to trade with a broker under european regulatory oversight with enhanced levels of safeguards. The octafx.Com website is registered under octa markets incorporated established in st. Vincent and the grenadines which permits its clients to take advantage of higher leverage and bonus promotions.

Octafx mobile app

A mobile version is available via the app store, free of charge. In 2019, europe CEO magazine awarded octafx for the best mobile trading app.

The app can used the same way as on desktop. You can modify your leverage, track your contest statistics, make money transfers, activate bonuses, and more. The user interface made the experience fun and easy to maneuver. The app supports nine languages in total.

Education

Whether you live in india, indonesia or pakistan, rest assured that octafx has you covered with daily expert trading advice along with educational insight.

Octafx regularly holds webinars which are beneficial for those new to forex trading and are determined to make a career out of it. While learning on your own is admirable, octafx works with big names in the industry and connects with their base through different mediums.

Copy trading

Several platforms offer services allowing newbies to copy professional traders. Octafx’s program works in a similar way. In fact, according to forex-awards octafx is the ‘best copy trading platform 2020’. What makes octafx’s copy trading platform rise above the rest is the care they put into it.

Of course you can sort through thousands of master traders through the category that appeals to you most and read what they have to say about their trading strategies, but octafx goes a step further. They have in-house experts that closely monitor master trader’s and make sure they’re not engaging in risky trading behavior or misleading copiers.

Customer service

Octafx has first-class customer service, something other brokers could boast about. A representative is available to you 24/7 and they speak your language. When you consider how many countries octafx services, then it becomes even more impressive. Peace of mind may be the most underrated benefit, yet when you need an issue resolved, regardless of the time, octafx is there.

Octafx commissions & spreads

Octafx offers ultra tight spreads. The quotes at octafx are quoted at up to 5 decimal places and start from as low as zero pips for their ECN accounts. There are no commission charges applicable for trades with octafx.

Instrument spreads (in pips)

EUR/USD minimum 0.4 pips

GBP/USD minimum 0.5 pips

AUD/USD minimum 0.6 pips

USD/CHF minimum 0.4 pips

EUR/JPY minimum 0.6 pips

GBP/JPY minimum 0.7 pips

NZD/USD minimum 0.6 pips

Octafx trading information

Octafx — latest reviews and comments 2021

I have tried to withdraw via visa on octafx which is the payment method used to deposit. It declines and they say I must use either skrill or bitcoin, why I cant I use mastercard then? None of the above is the same as the deposit method anyway? Both skrill and bitcoin platforms are terrible and unusable. I need to get my money out please help.

Roshel naidoo 1 february, 2021 reply

And is it absolute that I always have to withdraw with the method of deposit all the time? What if I deposit through my bank card and withdraw through I skrill for certain personally reason and that's the only I can deposit and withdraw would that be impossible?

Mathew joseph 30 january, 2021 reply

If I funded my octafx account and I didn't use to trade and maybe I changed my mind and decided I didn't want to trade can I withdraw back my funds without trading?

Mathew joseph 30 january, 2021 reply

I used my visa card to deposit money however trying to withdraw funds using the same method and octafx declines the request everytime. Consulted with my bank and nothing was rejected by them. Octafx is unable to give me a reason as to why my funds cannot be returned using the same method that they were deposited. Spoke to multiple consultants regarding this.

Roshel naidoo 30 january, 2021 reply

I have a question: after investing with octa, do you need to pay when you want to withdraw your profits and also pay commission to the broker?

Zee 30 january, 2021 reply

I tried logging in today and all I got was "this site can't be reached" (www.Octafx.Com). The customer service rep, (who was in malaysia for some reason), said that there was a problem with the platform (I am on the MT4 platform). What is happening and when will it be fixed?

John bezeredi 27 january, 2021 reply

I am deposit in my copy trading wallet 1829/-rs (25.5 USD) via money transfer from IDFC bank to octafx account it was successful sent but in octafx it was got rejected bcoz of not mentioned octafx in beneficiary name I mentioned some other name it was given in octafx. Now where was my amount 25.6 USD how to get that back.

Shaul hameed mohaideen 17 january, 2021 reply

Dear shaul hameed mohaideen,

Thank you for reaching out and sharing your experience with us. We deeply regret that you had trouble depositing your funds. Unfortunately, we couldn't identify you on our system and look into what happened since you didn't provide your trading account number. Please send it to us directly over the live chat on our official website, and we'll be happy to investigate the issue.

Please don't forget that our team is always here to help, and we're looking forward to hearing from you soon.

Octafx 22 january, 2021

I just tried to withdraw my money, it's still in pendimg list from 1 day. They said money is sent & bank is not responding. Today they say, they themselves didn't sent the money and have some problem with them. Please send my money today.

Pratyush baral 13 january, 2021 reply

Thank you for reaching out and sharing your feelings with us. We deeply regret that your deposit request took longer than you expected. After looking into your review, we've found that it was processed on january 13, 13:15 server time GMT+2, shortly after this review was published. Consequently, we hope that the issue was completely resolved, but if you have any questions, please contact us anytime.

Please note that at octafx, withdrawal requests are processed within a couple of hours. In some cases, when our financial department handles a high number of requests, we ask you to allow us extra time to process your request. The holiday season is usually the busiest time of the year, and in light of what we just referred to, we'd like to ask for your understanding, as this may cause slight delays and holdups. Nevertheless, please rest assured that our team is doing its best to ensure that the processing time doesn't exceed 24 hours.

We also want to encourage you to contact us directly if your payment request is taking longer. Our team is always here to help, and they will be happy to keep you updated on your request's status. So, please don't hesitate to send us a message.

We'll be happy to hear from you anytime soon.

Octafx 19 january, 2021

If I deposit with my local bank, so can I take withdrawal from the same octofx account. Can withdrawal transfer to my skrill account?

Meet 9 january, 2021 reply

Thank you for taking the time to contact us and bring this question to our attention.

Please note that at octafx, your deposit and withdrawal payment methods must match. That said, if you deposit through your local bank, it also should be your withdrawal option. It's an important requirement that follows our customer agreement and AML provisions to provide our clients funds' financial security. Different payment options could be considered in exceptional cases, but regularly, you won't be able to deposit via your local bank and withdraw to your skrill account.

We hope this fully answers your question. However, if you still have any other feedback, we'll be happy to hear from you directly and assist you with it.

Octafx 19 january, 2021

I transferred $10 just for a start but I later discovered the minimum is $50 and I've been demanding for a refund but all to no avail. I've sent my bank statement, receipt but no help coming forth. They keep on saying their financial team can't find it. It's bad. First time first discouragement and disappointment.

John 7 january, 2021 reply

Thank you for letting us know about your experience. We're sorry to hear that you had trouble depositing your funds. Unfortunately, you didn't provide your trading account number, and we couldn't identify you on our system. If you could contact us directly and share your octafx account details, we'll be happy to look into what happened and investigate the matter with our finance department.

Please note that all deposit requests that weren't processed are sent back automatically as refunds. However, if your deposit did not reach your account for whatever reason, we always suggest contacting our team immediately to look up the payment. We also want to point out that you can always find the minimum deposit amount in your personal area when you're creating a deposit request. We strongly encourage you to follow these requirements as it could be crucial in cases like yours and help prevent them from happening.

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

Top pakistan brokers for 2021

We found 11 online brokers that are appropriate for trading pakistan.

Best pakistan brokers guide

Pakistan financial markets

We've collected thousands of datapoints and written a guide to help you find the best pakistan brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best pakistan brokers below. You can go straight to the broker list here.

Trading in pakistan

When trading in pakistan you will need to know what your options with your pakistan trading broker are.

We list below the trading account types available in pakistan. If you are looking for brokers in pakistan that are suitable for trading in the forex, CFD's, indices and etfs, cryptocurrencies (availability subject to regulation) or commodity markets; this pakistan broker guide will explain the things you should check and be aware of before you invest.

Forex trading in pakistan

Forex trading is growing in popularity in pakistan. The volume of forex traded in pakistan has increased year on year over the last five years.

Across the world $5.1 trillion USD in volume is traded every single day. This is a huge amount in comparison with other financial market sectors.

Advances in online technology, higher internet coverage in pakistan and increased competition among brokerages have made forex trading more accessible and reduced the costs of trading generally.

Is forex trading legal in pakistan?

Their is a misconception that trading forex on the financial market in pakistan is considered unsafe. This is not the case, forex trading in pakistan is very active.

Trading in forex is allowed in pakistan as to conduct business currency must be exchanged. Forex is an integral part of import and export and investing internationally. The important thing is that when trading forex you pick a safe and reputable broker that is regulated. Pakistan forex trading is not banned, their are many international online brokers offering favourable trading conditions.

Do forex traders pay tax in pakistan?

Once a traders profits reach a level where the income on the forex trading can be taxed in pakistan the trader should make sure all taxes owed for a financial year are paid. Pakistan taxes should be filed even if there were losses on the year. If trading losses cannot be claimed against personal income taxes. A trader should file them with the proper government agency in pakistan. You should seek advice with a pakistan tax professional to ensure they are abiding by all proper tax laws in pakistan. In pakistan islamic accounts do not have additional restrictions on trades.

Cryptocurrencies in pakistan

Cryptocurrency markets in pakistan are relatively new and their availability are subject to local financial regulation. Because cryptocurrency works on decentralised assets in pakistan things like interest rate changes and political instability do not affect cryptocurrencies as much as the currency markets in pakistan for example.

Due to a large young population in pakistan with growing income levels and wide spread adaptation of online technology cryptocurrency trading volume is increasing greatly in pakistan. $6 billion USD worth of bitcoin is traded daily around the world.

Commodity trading in pakistan

In pakistan commodity trading includes the trade in precious metals, energies and agricultural commodities.

Some commodities like metals are seeing exponential growth in pakistan since 2002.

Fast growing countries like china and india have been growing rapidly over the last 3 decades. This has meant that countries like china and india have a vast requirement for many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example. This means countries like pakistan are able to take advantage of this demand.

We list brokers that allow you to trade commodities in pakistan here.

Islamic accounts in pakistan

Pakistan brokers support islamic accounts or swap-free accounts. Pakistan islamic accounts have no rollover interest on overnight positions to comply the muslim faith. Traders of islamic faith are forbidden to pay interest. Brokers in pakistan offer accounts that are suitable for islamic traders. These pakistan brokers complies with sharia law.

Benefits of trading in pakistan

Pakistan economy and population is growing. The middle class population in pakistan is increasing which means a growing consumer base. Many business and financial opportunities exist in pakistan. Pakistan has a young population educated in technology and the internet.

Concerns of trading in pakistan

Pakistan digitisation of financial trading has made it easier to defraud unsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in this pakistan guide. Educate yourself as much as possible open a demo account if necessary be you open a live trading account.

Learn about leverage when trading. Pakistan brokers offering high leverage trades in pakistan can mean high profit margins. But this goes both was it can also mean huge losses. There are things like negative balance protection and stop loss accounts which some pakistan brokers offer as a level of protection. You can learn more about further below on this guide.

Reputable pakistan brokers checklist

There are a number of important factors to consider when picking an online pakistan trading brokerage.

Check your pakistan broker has a history of at least 2 years.

Check your pakistan broker has a reasonable sized customer support of at least 15.

Does the pakistan broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your pakistan broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your pakistan broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your pakistan can hire people from various locations in the world who can better communicate in your local language.

It is not essential that your brokerage is local but they must have regulation from a tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.

When deciding to trade and find a suitable pakistan broker if you wish your broker to be 100% local check they are governed and regulated by the below.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering pakistan brokers.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below pakistan brokers.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 pakistan brokers of 2021 compared

Here are the top pakistan brokers (PK).

Compare pakistan brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are pakistan brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more pakistan brokers that accept pakistan clients

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.

Forex brokers lab

BROKERS with LOW SPREADS

ASIC REGULATED BROKERS

BROKERS with MINIMUM DEPOSIT

BEST FOREX BONUSES

Regulators : –

Cryptocurrencies: YES

Minimum deposit: $100

Maximum leverage: 1:500

Spreads: low

My score: 5.4

Hello guys! I am going to introduce you to octafx today. Octafx is a brand of the octa markets incorporated company that is founded in 2011.

According to the information I received from the website of the broker, octa markets incorporated (octafx) is based in suite 305, griffith corporate centre, beachmont, kingstown, st. Vincent and the grenadines.

The broker’s website, octafx.Com, has approximately 300,000 visitors per month. The visitors are from pakistan, malaysia, and india mainly.

In this octafx review, you can find the answers to the following questions: is octafx scam or not? What are the account types offered by the broker? How good are the trading conditions such as spreads, minimum deposit and leverage? Is octafx regulated?

Let’s start with the regulation section, which is the most critical issue in the forex industry.

Regulation of octafx

I have said the regulation is the most critical issue because unfortunately, forex fraud and scams are common in the industry.

The broker was authorized and regulated by the UK’s financial conduct authority (FCA) until recently. The FCA is one of the most reputable regulators worldwide.

That is, FCA requires some strict rules that agents must adhere to in order to obtain the license. For instance, the brokers must hold at least £730,000 tangible assets to proof their financial stability.

In addition, they have to keep client funds must be held in segregated accounts separate from the company’s operational funds.

Except the numerous strict requirements for licensed entities, the financial regulator in the UK also provides a compensation scheme.

The financial services compensation scheme (FSCS) provides a maximum compensation cover of £50,000 per person in the event of insolvency.

However, octafx lost its FCA license in 2017. We can say that the broker is an unregulated forex broker.

Account types and spreads

There are three account types offered by octafx. These are micro, pro, and ECN account types.

The micro account is suitable for novice trade and small investments. There is no commission, there are two spread options such as floating starting from 0.4 pips and fixed starting from 2 pips. The minimum deposit is 100 USD for this account type.

The pro account is recommended for experienced traders who want to trade with lowest spreads and less trading costs. The spreads are floating and starting from 0.2 pips. There is no commission and the minimum deposit is 500 USD.

The last account type is ECN and it is recommended for progressive traders who want more transparency in pricing. The spreads are floating, starting at 0 pips but there is the commission. The minimum deposit for this account type is 100 USD.

The maximum leverage for micro account is 1:500, for pro account 1:200, and for ECN account is 1:500.

There are also swap-free (islamic account) and demo account.

Trading platforms

There are three trading platforms include the most popular trading platform metatrader 4 and its new version metatrader 5.

In addition to them, there is also ctrader which one of the most advanced forex chart-rich and customizable platforms.

Metatrader 4 is still the most popular because it has excellent features. It includes charting tools, market indicators, scripts and eas, advanced risk management, real-time market execution and more.

Metatrader 5, or MT5, is a next-gen multi-asset trading platform that will replace MT4 in the very near future. Its back-testing functions are not only faster than those of MT4, but it also allows simultaneous multi-pair testing.

Metatrader 5 (MT5), offering more than MT4 does, also includes features and trading functionalities that are better than many other online trading platforms available today.

Ctrader is a comprehensive and robust trading platform, designed especially for forex and CFD trading.

All trading platforms are available as a web application that is compatible with windows, linux, and macos. All of them can also be accessed from a smartphone or tablet, regardless of whether it runs ios or android.

Trading instruments

As a client of octafx you can trade on 28 currency pairs + 4 metals + 2 energies + 10 indices + 3 cryptocurrencies.

With octafx offering cfds along with other instruments, you can profit from the 10 most popular indices, including dow jones, NASDAQ, nikkei and eurostoxx 50.

Cryptocurrencies are also available on the metatrader 4 and metatrader 5 platforms. Octafx supports trading in bitcoin, ethereum and litecoin.

There are also commodities such as metals including gold, silver, platinum and copper, as well as crude oil, natural gas and other resources.

Payment methods

You can fund your account via bank wire transfer, credit/debit cards, bitcoin, and neteller. I think the deposit and withdrawal options are quite limited.

The broker claims that it charges no commission and use best exchange rates on both deposits and withdrawals.

There should be more methods, this is another big disadvantage for this broker.

Conclusion

Octa FX is a forex and CFD broker who is no longer licensed by FCA. It offers various trading platforms include MT4&5 and trading instruments.

The trading conditions are competitive but there is no choice of trading platforms. You must use only one of them.

If you didn’t want to trade with this broker you can check my top forex brokers list and find a better one. Of course, you will find better ones.

Octafx review

Octafx

Leverage: 1:30 | 1:500

Regulation: cysec

Min. Deposit: 100 EUR

HQ: SVG, cyprus

Platforms: MT5, ctrader

Found in: 2011

Octafx licenses

Octa markets cyprus ltd - authorized by cysec (cyprus) registration no. 372/18

Octa markets incorporated - authorized by the FSA (SVG)

Top 3 forex brokers

FXTM review

GO markets review

FP markets review

What is octafx?

Awards

Safe or a scam?

Leverage

Accounts

Market instruments

Fees

Deposits and withdrawals

Trading platforms

Customer support

Education

Conclusion

What is octafx?

Octafx is a technology based brokerage company that operates since 2011 and offers industry leading platforms such as metatrader5 and ctrader with numerous investment opportunities and great capabilities.

At the beginning of its establishment octafx walked a path from an offshore brand located in SVG and further on operated in the UK, however since 2017 closed its entity and moved to cyprus.

So, together with the european cysec license broker operates also a global offering from its entity, therefore check on carefully under which regulation you will fall as it may propose different trading conditions.

Pros	cons
forex and cfds offered	phone support not available 24/7
great trading tools	no forex education
MT5 and ctrader platforms offered
fast account opening and free demo account
no commission deposits and withdrawal options

What type of broker is octafx?

Octafx is an STP forex broker also with high standards of secure trading environment, as of the regulation it imposes. The offering to the clients is wide and even comprehensive since proposes the same if not more investment opportunities to the world trading community.

10 points summary

�� headquarters	broker located in SVG and cyprus
��️ regulation	cysec, FSA SVG
�� platforms	MT5, ctrader
�� instruments	cfds on commodities, forex, metals, indices and energies
�� demo account	available
�� minimum deposit	100$
�� EUR/USD spread	0.5 pips
�� base currencies	USD, EUR
�� education	available only through international entity
☎ customer support	24/5

Awards

Octafx already quite known and operates for a while despite a fact that received its european license just recently. So for the years it operates, octafx participates to various exhibitions and received numerous international awards along with the huge number of active traders registered at the company. That all in all confirm its status and reputable position in the industry, which we will also be able to see in detail further in our octafx review.

Is octafx safe or a scam?

The main issue and topic of our octafx review among others if its safe trading environment, which is checked as first due to its regulatory obligation and license under which the broker operated. Octafx launched since 2011 walked a path with various operation licenses including SVG registration, operating the UK branch, yet suspended this entity back in 2017 and target cyprus as its next destination of operation.

Pros	cons
cysec regulated international broker	previously operated only offshore entity
global coverage and years of operation
negative balance protection applied

Is octafx legit?

So, the main gap for these years of operation was the fact that octafx was a brand of the octa markets incorporated company that is registered, regulated and governed by the law of saint-vincent and the grenadines. Which is offshore heaven for its tax-management as well as relative ease to establish a company. Now, since octafx established its legal entity in cyprus and respectively got a license from the local cysec, which also impose regulation according to european ESMA standards.

Therefore, now we can state that octafx and its octa markets cyprus ltd entity shows us a clear state of the compliance to the necessary operation standards.

Since the regulation demands strict follow of forex business operations management, it is considered safe to open an account either with cyprus or international octafx entity.

How are you protected?

The set of regulatory requirements enables protection to the clients and including – funds segregation, application of negative balance protection while the broker is constantly overseen by the authority in terms of its safety compliance. In addition, there is a security of the traders’ accounts applied by the investor protection and compensation schemes in case the broker goes bankrupt.

Leverage

As for the leverage as a known instrument that increases the initial capital you trading with and can be a very useful tool to magnify potential gains is offered by the octafx broker as well. However, along with its great capabilities, leverage increases risks together with its benefits, so you should always learn how to use tools smartly.

Risk level

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well.

For this reason, world authorities and regulators restrict leverage to use to specify, safer levels for retail traders. Therefore, octafx cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that european traders or those clients that are registered with octafx european entity will fall under ESMA regulation that recently limited leverage.

Yet, if you still prefer to use high leverage international entity of octafx still allows so.

European traders leverage is maximum 1:30 for major currency pairs, 1:10 for commodities

International traders can still use leverage until 1:500

Accounts

Another important note within octafx review is a range of account types through which you will access trading. Eventually, the broker offers two account types that also define trading conditions and the platform that is used for trading itself.

Pros	cons
fast digital account opening	none
single account for metatrader5 or ctrader platforms
demo account offered
option between trading fee models

Types of accounts

As the broker defines by itself the MT5 account offered for a conservative trader as it is suitable for the majority of investors also supporting all trading styles and social trading as well. While ctrader will be more suitable for progressive traders or professionals as offers comprehensive trading conditions with commission based fee structure.

Besides, there is an option to submit for a demo practice account and use its unlimited sources to polish strategy or get to know platforms and octafx conditions better.

Yet, the international proposal includes also ECN and PRO account based on the platforms, besides micro account on metatrader4 platform is offered too. It is recommended for novice traders and allows micro lot trading with floating spreads starting at 0.4 pips or fixed spread at 2 pips.

Trading instruments

So what you can trade with octafx? The market range offers you the most demanded instrument while base on the CFD trading model and offering you an opportunity to speculate on the price movement on forex currency pairs, metals, energies and indices.

Another good point at octafx is its pricing strategy or a fee which you will need to pay for the usage of the octafx trading service. There are two options according to the account type you choose and the platform you use, offered by the octa markets.

While an international brand may offer slightly different conditions, which you may check from the site better.

Pros	cons
low forex fees	inactivity fee
options between spread only or commission fee basis
0$ withdrawal fee
micro lot trading available

Our find on CFD fees

So fee strategy is different according to the platforms while MT5 offers you spread only basis with a minimum spread of EUR USD 0.2 pips, which is a very good offering compared to industry standards.

And ctrader brings you access to raw spread from 0 pip for EUR USD pair plus the commission charge of 3$ pet lot.

Also, see below the comparison table with a typical octafx spread and compare brokers to other CFD brokers with CFD fees, commission or inactivity fee if applicable.

Trading fees of octafx vs similar brokers

asset/ pair	octafx fees	avatrade fees	etoro fees
EUR USD	0.5 pips	1.3 pips	3 pips
crude oil WTI	2 pips	3 pips	5 pips
gold	20	40	45
inactivity fee	yes	yes	yes
fee ranking	low	average	high

Here is a snapshot of octafx fees

Overnight fee

Also, always consider overnight charge or swap in case you’re holding the position longer than a day. It is always defined by the instrument you trade and may be visible either through a website or platform while trading. See the example on the snap above.

Deposits and withdrawals

Being able to access your funds at any time with ease and convenience is another point with a regulated broker and our octafx review. So together with its strict money management rules, you may fund your account by deposit through a bank account with no complication.

Pros	cons
no deposit fees	limited deposit and withdrawal option for european clients
withdrawals free of charge	no credit card supported for cyprus entity
wide range of payment methods supported by an international entity

Deposit fees and options

As a licensed broker that obliges to safety measures, octafx cyprus offers only bank wire transfer for its european clients. While international entity includes also credit cards, e-wallets and other methods which you may check with customer service before any transfer is done.

Bank wire transfer

What is also great, there is no charges for deposits so you won’t pay any commission, however always define it with your payment provider or bank itself as an international rule vary from jurisdiction to another.

Minimum deposit requirement

By the octafx policy, the minimum deposit set to a EUR100 allowing you to open any account type from the two offered by the broker.

Money withdrawal

Money withdrawal is the same smooth process, while octafx also covers fees so you may access your moany at any time and receive it relatively quickly. Usually, octafx confirms withdrawals within 1-2 business days, but allow extra days for you bank to process the transaction.

Here are the steps to withdraw money from octafx

By a simple follow of instructions, you may access your account and submit a withdrawal. And of course, you may always count on a great help center which is remaining at your assistance.

How do you withdraw money from account?

1. Login to your account. Select on withdraw funds’ at the menu tab

2. Fill in the form and enter the desired withdraw amount

3. Choose the withdrawal method

4. Complete the necessary form requirements

5. Confirm withdrawal details and submit

Trading platforms

Lastly and what we like the most is the octafx platform offering, while you may select either industry leading software also its newer version metatrader5 with all benefits included and not restricted, also with copy trading option. Or to use advanced and very powerful capabilities of ctrader platform.

The choice between the platform is always your and they are indeed very different, also bringing different price model and more suitable trading strategy. Metatrader5 is good for everyone and more trader friendly software, also copy trading available through it.

While ctrader platform is more sophisticated technology also the one that offering ECN direct market access which might be a better option for professionals. Besides, if you open an account with the international brand of octafx there is an option to use metatrader4 and operate through an account with micro lot trading option.

Scores & availability of different platforms

pros	cons
option between metatrader5 and ctrader	no education or video support for european entity, but available through international site
user friendly design
price alerts and push notifications
fee report
supporting various languages
web, mobile and desktop versions
MT4 offered only by international entity

Web trading platform

Both platforms supporting various versions that you may access either just by the load through your browser without any installation which is very useful. Metatrader will bring you all the benefits and powerful capabilities it offers, while ctrader webtrader is also featuring great design and look.

Desktop platform

However, advanced traders would prefer the desktop version as it feature much more customization capabilities and tools to use. So here both platforms also available for download and suitable for any operating system either ios or windows.

Look and feel

Both platforms are with clear look and feel, indeed ctrader is more complex to understand as it is packed with advanced tools yet the design is easy to navigate and customize.

Automated trading

Octafx automated trading capabilities are also useful for either beginning or professional trading through the use of popular eas. You may either create your own once or follow a specified strategy available through the community or in the market place.

Mobile trading platform

The mobile app is also offered for both platforms, while apps are simple to use and offer a wide range of tools at the same time. MT5 mobile offers various charting capabilities also customization which is fantastic for mobile trading along with full management of your account.

Customer service

Also, octafx customer support provides its clients with 24-hour live support available through live chat, email and phone support in various languages. Eventually, avatrade offers some of the greatest quality support with fast and reliable answers and a huge range of free of charge lines all around the world.

Education

Unfortunately, there is no education center or any learning materials about the trading process offered by cyprus entity, either octafx does not provide webinars or analytical research which is not so good for complete beginners.

However, octafx provides education and analysis through its international brand along with unlimited demo platforms allowing to practice strategies and test the offered systems. So if you’re beginning trader maybe you can see competition or participate to the course using other sources.

Yet, we can forgive this missing point to octafx as there are truly many benefits on the trading conditions they provide.

Pros	cons
free unlimited demo account available	no education videos, webinars or learning materials provided by the cyprus entity. All education and analysis tools included in the international offering
wide range of trading tools
trading ideas and social trading options
economic indicators and news feed

Research

In addition to its some of the good quality trading offerings among industry, all clients can enjoy absolutely stunning research tools and trading tools that are accessible directly through the platforms. Along with other user-friendly tools including calculator, fantastic and clear charting with built-in news feed and other essential trading data for your better trading.

Conclusion

Overall, octafx review shows us a broker with a quality trading strategy which offers also flexibility in terms of conditions, platforms and instruments it proposes.

While before we had some concerns due to its operation only through offshore entity now the trust is on a certain good level as octafx is regulated by the european cysec aligned with mifid directive. Therefore means its operation aligned to the necessary protection level through its either entity.

Read more about octafx license through our news by the link.

What we also admit is high-tech access to a range of the instrument and multiple platforms either for manual, algorithmic or social trading. It is definitely a great advantage that octafx offers both industry popular metatrader platform and powerful ctrader which is highly regarded by the professional traders.

Nevertheless, make sure to check the proposal of the particular octafx entity as an international brand and a cyprus one offers slightly different conditions. While obviously, octafx international proposal features more comprehensive tools and conditions along with education and research materials also MT4 availability.

Yet, it is always great to hear your personal opinion about octafx. So you may share your experience or thoughts or discuss them below or ask us for additional information.

Octafx review

Octafx

Leverage: 1:30 | 1:500

Regulation: cysec

Min. Deposit: 100 EUR

HQ: SVG, cyprus

Platforms: MT5, ctrader

Found in: 2011

Octafx licenses

Octa markets cyprus ltd - authorized by cysec (cyprus) registration no. 372/18

Octa markets incorporated - authorized by the FSA (SVG)

Top 3 forex brokers

FXTM review

GO markets review

FP markets review

What is octafx?

Awards

Safe or a scam?

Leverage

Accounts

Market instruments

Fees

Deposits and withdrawals

Trading platforms

Customer support

Education

Conclusion

What is octafx?

At the beginning of its establishment octafx walked a path from an offshore brand located in SVG and further on operated in the UK, however since 2017 closed its entity and moved to cyprus.

Pros	cons
forex and cfds offered	phone support not available 24/7
great trading tools	no forex education
MT5 and ctrader platforms offered
fast account opening and free demo account
no commission deposits and withdrawal options

What type of broker is octafx?

10 points summary

�� headquarters	broker located in SVG and cyprus
��️ regulation	cysec, FSA SVG
�� platforms	MT5, ctrader
�� instruments	cfds on commodities, forex, metals, indices and energies
�� demo account	available
�� minimum deposit	100$
�� EUR/USD spread	0.5 pips
�� base currencies	USD, EUR
�� education	available only through international entity
☎ customer support	24/5

Awards

Is octafx safe or a scam?

Pros	cons
cysec regulated international broker	previously operated only offshore entity
global coverage and years of operation
negative balance protection applied

Is octafx legit?

Therefore, now we can state that octafx and its octa markets cyprus ltd entity shows us a clear state of the compliance to the necessary operation standards.

Since the regulation demands strict follow of forex business operations management, it is considered safe to open an account either with cyprus or international octafx entity.

How are you protected?

Leverage

Risk level

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well.

Yet, if you still prefer to use high leverage international entity of octafx still allows so.

European traders leverage is maximum 1:30 for major currency pairs, 1:10 for commodities

International traders can still use leverage until 1:500

Accounts

Pros	cons
fast digital account opening	none
single account for metatrader5 or ctrader platforms
demo account offered
option between trading fee models

Types of accounts

Besides, there is an option to submit for a demo practice account and use its unlimited sources to polish strategy or get to know platforms and octafx conditions better.

Trading instruments

While an international brand may offer slightly different conditions, which you may check from the site better.

Pros	cons
low forex fees	inactivity fee
options between spread only or commission fee basis
0$ withdrawal fee
micro lot trading available

Our find on CFD fees

And ctrader brings you access to raw spread from 0 pip for EUR USD pair plus the commission charge of 3$ pet lot.

Also, see below the comparison table with a typical octafx spread and compare brokers to other CFD brokers with CFD fees, commission or inactivity fee if applicable.

Trading fees of octafx vs similar brokers

asset/ pair	octafx fees	avatrade fees	etoro fees
EUR USD	0.5 pips	1.3 pips	3 pips
crude oil WTI	2 pips	3 pips	5 pips
gold	20	40	45
inactivity fee	yes	yes	yes
fee ranking	low	average	high

Here is a snapshot of octafx fees

Overnight fee

Deposits and withdrawals

Pros	cons
no deposit fees	limited deposit and withdrawal option for european clients
withdrawals free of charge	no credit card supported for cyprus entity
wide range of payment methods supported by an international entity

Deposit fees and options

Bank wire transfer

Minimum deposit requirement

By the octafx policy, the minimum deposit set to a EUR100 allowing you to open any account type from the two offered by the broker.

Money withdrawal

Here are the steps to withdraw money from octafx

By a simple follow of instructions, you may access your account and submit a withdrawal. And of course, you may always count on a great help center which is remaining at your assistance.

How do you withdraw money from account?

1. Login to your account. Select on withdraw funds’ at the menu tab

2. Fill in the form and enter the desired withdraw amount

3. Choose the withdrawal method

4. Complete the necessary form requirements

5. Confirm withdrawal details and submit

Trading platforms

Scores & availability of different platforms

pros	cons
option between metatrader5 and ctrader	no education or video support for european entity, but available through international site
user friendly design
price alerts and push notifications
fee report
supporting various languages
web, mobile and desktop versions
MT4 offered only by international entity

Web trading platform

Desktop platform

Look and feel

Both platforms are with clear look and feel, indeed ctrader is more complex to understand as it is packed with advanced tools yet the design is easy to navigate and customize.

Automated trading

Mobile trading platform

Customer service

Education

Yet, we can forgive this missing point to octafx as there are truly many benefits on the trading conditions they provide.

Pros	cons
free unlimited demo account available	no education videos, webinars or learning materials provided by the cyprus entity. All education and analysis tools included in the international offering
wide range of trading tools
trading ideas and social trading options
economic indicators and news feed

Research

Conclusion

Overall, octafx review shows us a broker with a quality trading strategy which offers also flexibility in terms of conditions, platforms and instruments it proposes.

Read more about octafx license through our news by the link.

Yet, it is always great to hear your personal opinion about octafx. So you may share your experience or thoughts or discuss them below or ask us for additional information.

So, let's see, what was the most valuable thing of this article: is octafx scam or legit? Octafx is a trusted global broker that offers a user-friendly platform, and a wide selection of tradable instruments. Octafx acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to their... At octafx pakistan