Octafx withdrawal limit

Octa markets cyprus ltd is tightly regulated by the cyprus securities and exchange commission (cysec), carrying all necessary investigations in order to ensure fraud-free market operations.

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OctaFX: Login, minimum deposit, withdrawal time, octafx withdrawal limit.

As regulated by cysec, OCTAFX is part of the ICF allowing for a compensation of up to €20 000 to be attributed to clients, if the broker fails or becomes insolvent. There is the opportunity to win $500 while trading with your DEMO account.

RECOMMENDED FOREX BROKERS

Octatfx has a highly informative and accessible website that aims to promote their services in layman terms. And it achieves that, yet can it can it practice what it preaches?

The broker website is operated by the following companies:

Octa markets cyprus ltd is tightly regulated by the cyprus securities and exchange commission (cysec), carrying all necessary investigations in order to ensure fraud-free market operations. As regulated by cysec, OCTAFX is part of the ICF allowing for a compensation of up to €20 000 to be attributed to clients, if the broker fails or becomes insolvent.

Octa markets incorporated is regulated by the FSA SVG in st. Vincent and the grenadines. This body’s main duties are to ensure that financial institutions are well supervised and that all threats are acted upon with the appropriate force of action. Unlike cysec, this license issuer has no reimbursement scheme to speak of. Another significant drawback is that there is no regulation dedicated to foreign exchange (forex) trading and cryptocurrency, nor are there licenses issued for these two assets:

Spreads depend on the account the client has chosen. So for the MICRO account the EUR/USD spread is 1.1 pips, for the PRO it’s 0.8-1.1 pips, and for the ECN account it’s typically 0.7-0.8 pips. We would like to remind readers that in the UK and EU the current imposed maximum spread limit is 1:30. For those outside the jurisdiction of ESMA the spread reaches 1:500.

Currently, octatfx offers the following assets to trade with: forex pairs, cryptocurrencies, commodities, stocks. In the bustling, competitive world of forex today, this number of assets is considered low.

The broker is available in the following languages: english, spanish, arabic, indonesian, thai, vietnamese, chinese, german, malay, bengali, portuguese and hindi.

Octatfx offers three platform for trade: MT4, MT5 and ctrader. What’s interesting is that each platform acts also as a separate account.

METATRADER 4

Here we are again with this renowned platform, and for a reason! MT4 stands tall against other trading terminals. Consider using expert advisors to set your automated trading while you do other business, or take full advantage of what MT4 has to offer: multiple chart management, trading directly from the chart, customized trading indicators, huge selection of trading options and much more.

The MT4 acts as the MICRO account type. So, the spread for EUR/USD 1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches 1:500 for those outside these zones.

There are no commissions attached to this account.

MT4 is available on smartphones (iphone, android), on any browser and as a standalone desktop version.

METATRADER 5

MT5 strives to replace MT4 but fails to do so, not because it’s inferior but because most brokers nowadays use MT4 as the default terminal. Nevertheless, MT5 comes with new and handy features that traders will surely find useful. There are auto trading bots, plus VPS (same as MT4).

The MT5 acts as the PRO account type. So, the spread for EUR/USD 0.8-1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

The are no commissions attached to this account.

MT5 is available on smartphones, on any browser and as a standalone desktop version.

The functional ctrader has been included by octafx. This platform handles with ease and possesses a much better visual style than both MT4/5. The interface is highly customizable, giving end users a much needed aesthetic touch of their own. One of the main features of ctrader is the ability for traders to access provider’s liquidity making room for better pricing and lower spreads. There is also automated trading, and great back testing facilities.

Ctrader acts as the ECN account type. So, the spread for EUR/USD 0.7-0.8 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

Ctrader has a commission structure attached to it. For one standard lot a round turnof $6 will be feed. So this changes the EUR/USD spread from 0.7-0.8 pips to 1.3-1.4 pips.

Ctrader is available: for download as a standalone software for desktop, to mobile users, and can be accessed via a browser.

COPYTRADING

The broker offers for the opportunity to copy expert traders, automatically, without spending time on building a strategy or being constantly glued to a screen. This is a superb opportunity for those who do not have the time, or have little of it, to dedicate to online trading. To start, just browse through the many expert traders, set your preferences, invest and voila! Note that, even if the trader dealing for you gets a bonus if your investment turns to profit, this system does not guarantee 100% wins all of the time.

OCTAFX MINIMUM DEPOSIT

The minimum deposit is $50, immediately making room for smaller or casual traders. Typically, a higher minimum deposit limit has the ability to intimidate many novice traders.

The methods for depositing are: neteller, skrill and bitcoin. In this day and age of online currency and cfds trading these options are significantly low than bar. When considering the instruments in circulation by admiral markets and, especially, FX choice, the assortment that this here broker has seems laughable in comparison.

The base currencies are limited to only EUR and USD. The same comment as above can be applied here. A global broker should include more base currencies.

All methods of funding are instant. Here, however, octafx shines, as it falls in the niche of swift deposit methods, a niche that grows ever so tighter.

There are no fees attached. Fees commissioned by thirds parties will be covered by octafx.

OCTAFX WITHDRAWAL TIME AND FEES

Cysec regulation reassures that no harm will come to clients withdrawals.

The withdrawal methods are: neteller, skrill and bitcoin. Again, significantly fewer withdrawal methods that your standard broker.

Withdrawals are instant. This is a rare sight to see in an industry of long process times, and unexpected delays.

There are no fees attached to withdrawal. Fees commissioned by thirds parties will be covered by octafx. This makes us even more agitated at the fact that octafx has not included more payment options.

The minimum withdrawal amount is $5.

BONUSES AND PROMOTIONS

Bonuses are solely offered by octatfx’s offshore entity, due to cysec banning them in europe.

There is a 50% bonus with every deposit.

The most active and successful traders will have the opportunity to win smartphones/smartwatches, as well as a 3 luxury cars at the end of the year.

There is the opportunity to win $500 while trading with your DEMO account.

Trade suing a ctrader DEMO account, and finish with the highest profit at the end of the week to get $150.

BOTTOM LINE

First and foremost, octafx is regulated by one of the best institutes for the job in the world (cysec), as well as one of the shadier ones where many suspicious brokers get their licenses from- FSA SVG, making things rather ambiguous.

Second, there is a very limited number of payment methods, which in this day and age of online trading is unsatisfactory. However, there are no fees attached to said methods, and to top that the broker offers great and detailed trading platforms.

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)

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FXTM review

GO markets review

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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

Are you looking for a best ECN broker to start trading? Then octafx can be the best option for you. In fact, two well-known online portals have named the broker as best ECN broker. The broker is legit and offers an easy to use trading platform. In this octafx review, you will get to know some major things about broker so that you can decide whether you should choose the broker or not.

Octafx review

Is a broker a scam?

Registration and authorization

Starting the registration process

Enter all the details

Confirm the account

Fill up the personal information

Selection of the trading platform

Deposit your amount or complete the verification

Octafx trading platform

Demo account

Deposit and commission

Octafx spread

Withdrawal

Contacts

Reviews of traders

Octafx review

Talking about octafx, it came into existence in the year 2011, and it is controlled by octa markets ltd. Registered in the grenadines and saint vincent, it is operated with a license number of 19776 IBC 2011.

Two major online portals that are popular for offering banking and finance news, the forex report magazine, and global banking & finance review have recognized the broker as the “best ECN broker 2017” and “best trading conditions in 2016”. Cysec- cyprus securities and exchange commission regulates the broker.

They are also a good STP- straight through processing ECN broker. That means the broker doesn’t have a dealing desk and give the traders the lowest fees. Exploring more about octafx, they have more than 1.5 forex trading account, and till now they have successfully completed 288m trades.

The platform’s trading options cover all most all the major currency pair, silver as well as gold. The trading platform offers a metatrader 4 trading platform which is available for both desktop and smartphone users. Besides, it also offers ctrader platform.

Speaking about server octafx, the trading servers are located in london. On the other hand, octafx UK limited has a massive number of networks as well as data centres across asia and europe to offer stable connection 24×7.

Is a broker a scam?

Most of the traders have a common question, i.E., whether broker octafx safe or not. During the octafx review, the expert found the broker highly trustable. As discussed above, the broker is regulated by cysec and trade license number is 372/18. They are allowed to do their business across the EU. This also proves that they comply with different factors, such as proper background checks, advertising rules, investor compensation, minimum capital requirements and more.

Moreover, it is also regulated by the FCA- british financial conduct authority. To protect the traders, octafx comes with segregated funds. This enables the traders to keep their funds in the bank account instead of the broker’s trading account. So, octafx is not a scam, and you can trust them for forex trading.

Registration and authorization

Opening an octafx trading account involves an easy process and will take just a few minutes. Here the steps that you need to follow to open an account.

Starting the registration process

Visit the official site of octafx and click on the “open account” option. The option can be found on the top right corner of the home page. Besides, you can start the registration process at any page.

Enter all the details

You will see a pop-up window, and there you will have to give your full name, email ID and password. Always enter accurate information to prevent any issues in the future.

Confirm the account

After that, you need to visit your inbox. There you will find an email from octafx, click on that. Now, you need to click on confirm email address. It will verify the email, and you will move to the next step.

Fill up the personal information

After email verification, now you will have to provide your personal information, like your DOB, contact number, address, country and more. Make sure that you are under the legal age limit for doing forex trading.

Selection of the trading platform

Now you need to select the account type and trading platform. In terms of the account, you can choose damo (demo) or real account. On the other hand, under the trading platform option, you will get three options, such as metatrader 4, metatrader 5 and ctrader.

Deposit your amount or complete the verification

You need to submit all the required document for information verification in order to start using the account. Once done, you can deposit your first amount and start trading.

Octafx trading platform

The broker provides the traders with three types of trading platforms which can be easily accessed through mobile devices, tablets and desktops. The first platform is MT4, and the second one is the ctrader. The last one is the MT5. As per the company, ctrader platform comes with more features than the MT4. All the platforms support 128-bit SSL site protection. They are easy to use, and you will find all the required information on the screen.

Demo account

Like other reputed brokers, octafx also offers a demo account to both new and experienced traders. It calls it octafx unlimited demo account. There is no doubt that the forex market offers a lot of attractive trading opportunities, but it also includes risks. So, before doing real trading, octafx lets its users learn and try out their trading strategies using its demo account. It has all the features that you will get in the real account. Using this account, you can practice octa forex trading through both metatrader 4 and 5.

The thing that makes its demo account different from others is the octafx’s champion demo contest. While practicing their trading, the traders can now earn real money for trading. Every year it organizes damo competition for one month, and the participants can win up to USD 1000. The first, second and third places will get USD 500, USD 300 and USD 100 respectively.

Besides, there is also a ctrader weekly damo contest. The trader can take part in the contest with a ctrader damo account and can win up to USD 4000. It starts on monday and ends on friday. Well, these are some factors that make octafx so popular.

Deposit and commission

As per the octafx review, the broker accepts payments through various international platforms, such as neteller, skrill, bank wire, visa and master card. In indonesia, the broker supports local bank transfers. However, every month the platform adds new deposit methods. You can make your deposit in EUR or USD and USD 5 is the minimum deposit balance.

Speaking about its commission, the broker doesn’t charge any fees and commissions on fund withdrawals or deposits. However, the trading commission on micro and PRO accounts have been added in the octafx spread.

The broker says they charge a round-term trading commission on octafx ecn. On the other hand, a three-day fee will be charged on MT5.

Octafx spread

While trading at octa FX with the leverage, the most crucial element that you need to consider is the octafx spread along with other fees. If you compare, you will find the spreads at octafx is quite low. In fact, the spreads are near zero and low for octafx ecn accounts. There is no re-quotes or slippage. To understand this, let’s have a look at some major spreads.

AUD/CAD- for micro, pro and ecn, the spreads are 2.7, 1.5, and 1.7 respectively.

USD/EUR- for micro it is 0.9, and for pro and ECN it is 0.8.

Withdrawal

The withdrawal process of octafx is also very simple. All you need to just fill up the withdrawal form and submit it. It will take 2 to 3 business days to get processed. There are certain rules that you will have to follow for this. Well, this is very common, and the broker follows international anti-money laundering rules.

Contacts

Whatsapp: +34691370613

Contact number: +622131106972

Address: suite 305, griffith corporate centre, beachmont, kingstown, st. Vincent and the grenadines

Reviews of traders

An excellent broker. What it like the most about the broker octafx is the broker’s fast response to the queries. I have not faced any major issues with octafx until now. Another best thing is the broker offers multiple despite and withdrawals option. My withdrawal application got processed in just two days. They are also good at their commission and spread. However, keep close look when the trading market closed and opens or else the spread can lead to a huge loss. Otherwise, the broker is good and highly recommendable. – habibi osman

My trading experience with octafx became quite productive after a few months of using its demo trading account. Thanks for offering such easy to use a demo account. With time and practice, I have managed to increase my chances of getting successful transactions. Besides, the withdrawal process is fast and secure. My overall experience with octafx is good. – andrew

This is a highly reliable broker, and I have been using the platform for around the last four years. The octafx spread is good, but you need to be very careful while trading. They maintain the swaps and spreads in normal limit even though you have a minimum deposit. I would recommend this broker to others. At the initial stage, you may not get good results, but with the time you will earn a better profit. – francis

Octafx review

Founded in 2011, octafx provide powerful trading platforms and flexible accounts to suit all types of trader. They offer a range of forex and CFD instruments with very competitive fees and prompt customer support.

Octafx review, pros & cons

Commission free accounts

Fixed spread accounts

Octafx copytrading app

Autochartist

Negative balance protection

Hedging & scalping allowed

In this detailed octafx review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Octafx is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including octafx.

Octafx review: summary

Octafx is a multi-award-winning broker that provides traders across the globe access to trade forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies & cfds.

Octafx aim to minimise trading costs with 97.5% of orders executed without slippage through the STP (straight through processing) and ECN (electronic communications network) models implemented.

Octafx was founded in 2011 and has won over 28+ awards including best forex broker asia 2018 (global banking and finance review), best FX broker 2018 (european CEO magazine), best trading conditions 2018 (european CEO magazine), best copy trading platform 2018 (forex-awards.Com) and many more.

They aim to maintain high standards with secure trading environments and the same transparent trading conditions for every trader. Each year they are improving to try and become even more cost effective. Over 400,000 traders spanning 100+ countries have opened accounts with them.

Octafx also provide a range of trading tools and educational materials to assist with market analysis and improve your trading knowledge. There are flexible trading platforms and accounts for all levels and styles of trader.

Leverage of up to 1:500 is available and they do not charge any commissions or an overnight swap fee. Hedging, scalping and expert advisors are all supported.

Octafx review: regulation

Octafx is registered in st. Vincent and the grenadines, licensed and regulated by the financial services authority st. Vincent and the grenadines (FSA SVG). The octafx EU entity is regulated by the cyprus securities and exchange commission (cysec). They did previously hold on FCA license but closed their UK offices due to brexit and replaced it with the cysec license.

Client funds are held in segregated accounts in accordance with international regulation standards. Keeping funds separate from the company funds means that they cannot access them for any other purpose.

Octafx offers negative balance protection, so if your balance becomes negative, they will automatically adjust it to zero. The risk management system ensures that clients cannot lose more than they initially invested as risk is limited only to the funds you have deposited into your account.

Octafx review: countries

Octafx accepts clients from all over the world, excluding USA due to regulatory restrictions. Some octafx broker features and products mentioned within this octafx review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers australia, best brokers south africa, best brokers canada or our best brokers for all other countries.

Octafx review: trading platforms

Octafx offer a choice of the metatrader 4 (MT4), metatrader 5 (MT5) and ctrader platforms. These are amongst the most popular platforms available for online trading.

Octafx review: trading platforms

Metatrader 4

MT4 is ideal for new traders and more experienced traders who require a simplistic yet sophisticated platform. It has an intuitive user-friendly interface that is easy to navigate and fully customisable.

MT4 includes many built-in indicators for technical analysis and is capable of running automated systems known as expert advisors (eas). There are 9 timeframes to choose from. Multiple order types are supported with real time market execution and there is advanced risk management amongst many other useful features.

MT4 is the complete platform to get started trading online and is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: metatrader 4

Metatrader 5

MT5 has a simple interface just like its predecessor with some new features that improve the overall experience. There are more technical and fundamental indicators for chart analysis, 21 timeframes, graphical objects, support for more order types, an economic calendar and more.

MT5 is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: metatrader 5

Ctrader

Ctrader provides a convenient and feature rich environment for more flexible trading. It is also highly customisable and can be adjusted to cater to suit the needs of different traders. Other benefits include level II quotes, server trailing stop, 26 timeframes, cloud service, advanced chart trading and a FIX API for trading with direct market access.

Ctrader is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: trading tools

Octafx have a good selection of useful trading tools that can be used for trading signals, market analysis and risk management.

Octafx review: trading tools

Octafx copytrading app

The octafx copytrading app lets you conveniently copy signals from hundreds of other traders. The app interface is very user friendly making it easy to find signal providers to follow based on your customised filters. You can build and track your portfolio at any time. There are master accounts for traders who want to offer their strategies as signals or for followers who wish to copy signals.

Octafx review: copytrading app

Autochartist

If you have at least $500 in your octafx account then you can download and install the autochartist trading signals plugin for MT4 & MT5. This tool will automatically conduct technical analysis by scanning the charts for trading signals and will alert you when it finds them. You can specify what signals you want to receive and the quality level of these signals (based on historical performance).

Alerts can be set for opening and closing trades. You can optimise your stop loss and take profit levels with the volatility analysis tool and stay informed about the latest market movements and trading opportunities with autochartist market reports.

Octafx review: autochartist

Market insights

Here you will find daily trading ideas based on complex technical and fundamental analysis across a range of different trading instruments. There are also daily and weekly forecasts that cover the financial markets in great detail. These market insights can help identify trading opportunities and assist with analysis.

Octafx review: market insights

Economic calendar

The economic calendar displays a list of up and coming financial news releases including the country and level of impact. You can also see the actual, forecast and previous results of these releases. The calendar has advanced filters to only show news that is relevant to you.

Octafx review: economic calendar

Profit calculator

The profit calculator lets you choose a trading instrument and enter the position details for a quick and easy calculation of the potential profit.

Octafx review: profit calculator

Trading calculator

The trading calculator will quickly calculate the costs for opening a position of a specific size and leverage.

Octafx review: trading calculator

Account monitoring

On the account monitoring page of the octafx website you can select an account or nickname and view its performance, charts, profits, orders and history. You may also add your own account should you wish.

Octafx review: account monitoring

Other tools

Other notable tools include widgets that clearly display live quotes, interest rates and national holidays.

Octafx review: education

Octafx provide a good range of educational materials including video tutorials, guides, faqs and a glossary. Subjects covered include the very basic lessons such as an introduction to trading and how to place a trade to the more advanced technical and fundamental analysis. The information is very easy to digest and is supported with visual representation for clarity.

Octafx review: trading instruments

Octafx offer a range of trading instruments across multiple markets including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies & cfds. They have 28+ FX currency pairs, 4 metals (including gold and silver), 2 energies, 10 indices and 3 cryptocurrencies. Leverage is available up to 1:500 for currencies, 1:200 for metals, 1:100 for energies 1:50 for indices and 1:2 for cryptocurrencies.

Indices trading

With octafx offering cfds, you can trade from 10 of the most popular indices, including dow jones, NASDAQ, nikkei and eurostoxx 50.

Octafx review: indices trading

Cryptocurrency trading

Octafx offer trading in bitcoin, ethereum and litecoin.

Octafx review: cryptocurrency trading

Commodities trading

You can diversify your portfolio with octafx offering gold, silver, crude oil and other commodities.

Octafx review: commodities trading

Octafx review: trading accounts & fees

Octafx offer 3 different main account types, the micro, pro and ECN. The account you go for may depend on the trading platforms that you wish to use, instruments you trade and minimum deposit requirements.

Islamic swap free accounts that comply with sharia law are available. You may also open a demo account to test the different trading platforms and conditions before opening a real account, should you wish.

Octafx review: accounts comparison

Micro account

This is a MT4 account that octafx recommend for novice traders with a small initial investment. Floating spreads start from 0.4 pips and there is the option of fixed spreads that start from 2 pips on selected instruments. No commission is charged on this account type and the minimum deposit required is $100. Leverage is available up to 1:500 for currencies, 1:200 for metals, 1:50 for indices and 1:2 for cryptocurrencies. You get access to trade 28 currency pairs, gold and silver, 4 indices and 3 cryptocurrencies.

Pro account

This is a MT5 account that octafx recommend for experienced traders which has the lowest spreads and less overall trading costs. Spreads are floating and start from 0.2 pips with no commission charged and a minimum deposit requirement of $500. Leverage is available up to 1:200 for currencies, 1:100 for metals, 1:50 for indices and 1:2 for cryptocurrencies. You get access to trade 28 currency pairs, 4 metals (including gold and silver), energies, 10 indices and 3 cryptocurrencies.

ECN account

This is a ctrader account that octafx recommend for the progressive trader who require more transparency in pricing. Spreads are floating and start from just 0 pips with no commission charged and a minimum deposit requirement of $100. Leverage is available up to 1:500 for currencies, 1:200 for metals. You get access to trade 28 currency pairs, gold and silver.

As broker fees can vary and change, there may be additional fees that are not listed in this octafx review. It is imperative to ensure that you check and understand all of the latest information before you open an octafx broker account for online trading.

Octafx review: customer service

Octafx’s award winning customer support team is available 24 hours a day from monday to friday. Customer support is provided via online chat, telephone and email in english, indonesian, malay, thai, hindi, urdu. Awards won include best customer service asia (global banking and finance) and best customer service broker (FX empire).

According to zendesk monthly usage reports, octafx are better than 87.1% of the industry when it comes to customer support. The average response time is just 7 seconds and the average resolution time is 3 minutes with the customer satisfaction rate at an impressive 96%.

Octafx claim only 0.7% of clients actually contact customer support as their services are usually smooth and reliable enough. However, should you need them, they are there to answer your general and technical questions in a prompt and efficient manner.

Octafx review: customer support

Octafx review: deposit & withdrawal

Octafx do no charge a commission on deposit and withdrawals. They also use the best exchange rates possible. Secure SSL encryption helps make your information confidential and inaccessible to third parties. 3-D secure technology adds an authentication step for protecting your online VISA/mastercard payments.

Funding options include wire transfer, credit card, neteller, skrill, bitcoin. Bank transfers may take a few business days to clear. Accounts can be opened in USD & EUR. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Octafx review: account opening

There is a short online form to compete after which you will need to verify your email address. Following on from that you need to email the accounts team proof of identification and residence such as a passport scan and utility bill. This is completely normal as part of the KYC procedure. Once the accounts team have verified your details you will be able to fund your account and start trading.

Octafx review: account opening

Octafx review: conclusion

Octafx provide very flexible and powerful trading platforms with accounts to suit all types of trader. The trading costs are very competitive whilst customer support is prompt to answer questions. Trading instruments may perhaps be too limited for some although the forex offering is probably adequate for most clients needs.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. A percentage of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Min $100 deposit

Founded in 2011, octafx provide powerful trading platforms and flexible accounts to suit all types of trader. They offer a range of forex & CFD instruments with very competitive fees and prompt customer support.

Octafx review

Review

Octafx, a broker in operation since 2011 out of st. Vincent and the grenadines, serves over 1,500,000 traders from more than 100 countries; they report that order execution exceeded 288,000,000. This market maker deploys a straight-through processing (STP) model and offers traders the choice of the MT4, MT5, and ctrader trading platforms. New retail traders from emerging markets are a primary focus, and generous bonuses fulfill an essential role in growing the client base, with over $2,840,000 in bonus funds paid out to date. Octafx maintains a highly competitive cost structure with a commission-free EUR/USD spread of just 0.4 pips. The broker supports social trading via octafx copytrading and autochartist pro supports manual traders.

Octafx highlights

��️ headquarter	UK
⚖️ regulations	SEBI
�� type of broker	ECN/STP
�� minimum deposit	$50
�� maximum leverage	1:500
�� type of platform	metatrader 4, metatrader 5, ctrader
�� deposit with credit card	yes
�� depositing with wire transfer	no
�� demo account provided	yes
��️ instruments traded	cfds, commodities, metals, oil, gold, indices

Regulation and security

Octafx operates out of st. Vincent and the grenadines, where registration of octa markets incorporated exists with the financial services authority (SVGFSA). It is important to note that while the FSA is responsible for policing international business companies (ibcs), it does not regulate forex brokers. Therefore, octafx remains effectively unregulated; that in itself does not suggest malpractice or fraudulent activity by this broker. Octafx has expanded its operations since 2011, testament to its trader-friendly operations. In fact, more than 1,500,000 traders trust octafx, which should be taken into consideration when evaluating octafx.

Negative balance protection, the segregation of client deposits from corporate funds, and compliance with anti-money laundering (AML) directives enhance the security of traders. From this octafx review we can see that this broker does attempt to strike a balance between offering security as an unregulated entity and operating out of a business-friendly jurisdiction that allows it to execute its successful business model.

Octafx operates out of st. Vincent and the grenadines.

Negative balance protection exists, ensuring traders cannot lose more than they deposit.

Client deposits remain segregated from corporate funds.

Octafx fees

Octafx charges a combination of spreads, commissions, and swap rates. While the overall cost structure is extremely competitive, it is a bit complicated. To make things easier, we'll simplify it all in this ocatfx review. The MT4 micro account commences with a commission-free 0.4 pips minimum mark-up on the EUR/USD, which ranks among the best available offers in today’s industry. Swap rates apply, and islamic accounts face an equal cost, only labeled differently; the islamic account structure complies with sharia law. While the MT5 pro account continues with a similar minimum pricing environment, the current spread is significantly higher. A fixed three-day fixed cost applies, but no swap rates exist. Then there is the ctrader account, where the current mark-up is lower than in the MT5 but higher than in the MT4. The commission of $3 per lot is outstanding, and a fixed weekly rollover fee applies, again without daily swap rates.

Octafx does not levy charges for deposits, withdrawals, and currency conversions. No additional costs exist, making octafx one of the least costly brokers to trade with, fulfilling its mission statement of creating a low-cost broker for new traders and professionals alike.

MT4/MT5 traders can easily access swap rates from their platform by following these steps:

Right-click on the desired symbol in the market watch window and select symbols.

Select the desired currency and then click on properties located on the right side.

Scroll down until you see swap long and swap short.

The commission-free MT4 account lists a minimum spread of just 0.4 pips.

The MT5 account comes with a fixed rollover cost which is deducted every three days.

The ctrader account offers a very competitive commission of $3 per lot, but spreads are higher than in the MT4 alternative.

Islamic accounts face fixed costs equal to swap rates.

The overall pricing environment is low, benefiting traders.

What can I trade

Octafx offers 28 currency pairs, four commodities, ten index cfds, and three cryptocurrency pairs, traders have limited choices. As far as we could see during this octafx review, the complete availability of assets remains confined to the MT5 account; the MT4 account features fewer assets, and ctrader offers the least. As such, cross-asset diversification is would be difficult, but it's possible to overlook this if you're a new trader and a solid cost structure is important to you.

Octafx maintains 45 assets in total.

Account types

Octafx maintains three account types. The broker claims the MT4 micro is the most common choice and confirms its popularity among new retail traders from emerging and frontier markets. With a minimum deposit of $100, traders have access to 39 assets with a maximum leverage of 1:500. The MT5 pro account offers all 45 trading instruments but requires a $500 deposit, with increased margin requirements. Both choices are commission-free. The commission-based ctrader account is available for just $100. It features the least number of assets with 30, but the maximum leverage is 1:500, unlike 1:200 in the MT5 account. Hedging and scalping face no restrictions in either choice.

Traders may choose from among three account types.

Islamic accounts are a cornerstone at octafx and are high in demand. While swap rates do not apply, fixed costs exist.

Octafx trading platforms

Traders may choose from the three leading trading platforms in the forex market. The market-favorite MT4, with over 20,000 third-party customized technical indicators and electronic advisors (eas), many free of charge, remains the most flexible version. MT4 maintains its leadership position for automated trading, the fastest-growing sector of the financial system. Traders must invest in necessary upgrades to unlock the complete functionality of MT4 and transform it into a competitive, cutting-edge version. Octafx also offers the MT5 trading platform, which remains the only one where all assets are available for trading. The best out-of-the-box alternative is ctrader, designed for trading via the electronic communications network (ECN).

All three platforms support automated trading and are available as a desktop client, a webtrader, and a mobile version. Autochartist pro enhances the MT4/MT5 trading platforms, granting traders one of the most widely used automated chart pattern recognition software. Social trading support exists via octafx copytrading, which allows traders without the time to manage their portfolios to diversify across strategies from one user-friendly platform.

MT4 maintains its leadership position among retail trading platforms.

Octafx traders who wish to trade all 45 assets must do so on the MT5.

The ctrader platform offers the best out-of-the-box trading experience.

Octafx copytrading supports the resurging popularity of social trading.

Unique features

There are three unique features worth noting.

Autochartist pro offers manual traders an excellent automated trading assistant. It is available only to clients who achieve silver status and above. Information about what is required to achieve this status appears to be available only to registered traders from inside their back-office.

Since 2017, octafx has revamped and improved its educational portal. It is supported via weekly and monthly demo contests, which allows new traders to earn between $500 and $1,000 in real cash, which is then deposited into a live trading account. Traders should enter trading contests at their own risk while understanding they may not win.

The octafx copytrading platform allows so-called master traders to earn an additional revenue stream from their strategy. It is ideal for those traders with smaller portfolios to leverage their income potential. Professional traders interested in tapping into the social trading scene will also benefit from it. Traders can create multiple master accounts for different strategies, and the freedom to adjust commissions adds to the flexibility.

Autochartist pro is an excellent trading tool available at octafx.

Demo contests with real cash prizes appeal to new retail traders.

Master traders can boost their income potential at octafx via the octafx copytrading platform.

Research and education

Octafx grants traders a comprehensive analytics section under trader’s tools. It consists of eleven sub-categories and a user-friendly design. Besides trading signals from autochartist, traders will discover in-house research and market commentary published by octafx under market insights, forex news, and technical analysis. They are updated frequently, consist of written content and charts, and represents a quality addition to the products available at this broker. A quick overview of market-related events exists under the economic calendar, interest rates, and national holidays. The profit and trading calculators allow traders to manage their trading strategy before placing trades. Overall, with the revamped research and education portal, octafx delivers a genuine auxiliary trading service.

The trader’s tools section features eleven sub-categories, which combine for quality service, especially for new retail traders.

Octafx updates three sections several times throughout the day, with trading ideas and market commentary.

Education at octafx consists of nineteen topics under forex basics. They consist of quality written content, charts, and some include numerous videos. While often brief, the content has educational value and offers new retail traders an excellent introduction to trading. The tutorials section focuses on octafx-specific guides, and video tutorials cover MT4/MT5, the personal area of octafx, and octafx copytrading. An FAQ section and a glossary aim to answer the most common questions and introduce terminology. Traders may access the manuals to obtain more specific assistance regarding the three trading platforms, related tools and services, and autochartist. Webinars hosted by octafx complete a well-rounded educational portal.

Octafx delivers a well-rounded educational portal.

Webinars add value, and new traders should take advantage of them.

Customer support

Customer support is available 24/7 and is best reached via live chat or telegram. A webform is equally accessible, and traders may alternatively call. Octafx ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.

Bonuses and promotions

Bonuses and promotions remain an essential part of the octafx strategy, and traders have access to various offers. The 50% withdrawable bonus on each deposit represents an excellent offer for traders to build their portfolio through a series of monthly deposits, while two demo contests award real cash. The trade & win incentive rewards clients for trading activity with various prizes.

The withdrawable 50% bonus on each deposit represents the best offer at octafx.

Trade & win is another excellent reward program based on trading volume.

A four-tier status program grants additional improvements to the trading environment.

Traders can use the four-week MT4 demo account to win cash.

Smaller cash prizes await in the one-week ECN demo contest.

Octafx also hosts a 16 car global trading contest.

Opening an account

An online application form processes new accounts, and traders may use their facebook or google account to complete the process. Account verification is mandatory to comply with AML/KYC requirements. A copy of the trader's ID and one proof of residency document will satisfy this final step.

The account opening process complies with industry standards.

Deposits and withdrawals

Octafx supports credit/debit cards, skrill, neteller, and bitcoin. While the selection remains limited, it is suitable for most traders. No deposit or withdrawal fees exist from octafx, but third-party costs may apply. The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet.

Octafx offers a limited but acceptable choice for payment processing.

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