OctaFX — Forex Broker Rating and Review 2019

OctaFXOctaFX UK Limited website
Status
Regulation FCA UK
Trading software Metatrader 4/5, MT4/5 Mobile for Android/iPhone, cTrader, cTrader WEB, cAlgo
Headquartered 2 Devonshire Square, London, England, EC2M 4UJ

OctaFX is recognised globally for offering the lowest spreads in the industry and prides itself on its award-winning trading conditions. OctaFX is an excellent provider of CFD and Forex trading to clients in over 100 countries.

5 reasons to trade with OctaFX:

  1. Clients love OctaFX for its convenience and reliability
  2. Start trading with minimum $5 deposit
  3. Boost your profitability and get a free 50% bonus with every deposit
  4. Trade at the prices you see with immediate execution
  5. Pay no commission on deposits and withdrawals

Regulation

After a careful analysis we can say that OctaFX is a trustworthy broker that is properly regulated by the major authorities.This includes a license of the British Financial Conduct Authority (FCA). Octa was also registered in 2011 in Saint Vincent and the Grenadines under license number 19776 IBC 2011. So they act in full compliance with international legislation and regulation standards.


OctaFX Copytrading:

OctaFX Copytrading offers an opportunity to automatically copy leading traders and forget about long hours of building your own trading strategy. Choose from the best Masters of Forex and diversify your trading portfolio.

How it works:

  • Surf through the ratings of our Master Traders and select the best ones for you.
  • Invest money, choose your desired income rate, estimate tolerable risks, and that's it—sit back and watch your balance grow.

A brief summary of what you'll get with OctaFX Copytrading:

  • - Huge return rate: more than 20% monthly gain
  • - No advanced knowledge required - the best traders work for you
  • - No restrictions on the minimum deposit - you can start earning with even 5 USD
  • - No complicated software or downloads required - on tuning is done on the website or through Mobile App

Trading platforms:

MetaTrader4

  • Simplistic easy to navigate interface
  • Built-in market for Expert Advisors and Custom Indicators
  • Interactive customisable charts
  • Reliable Virtual Private Server service

MetaTrader5

  • Stop Limit orders
  • Built-in economic calendar
  • Advanced one-click trading tools
  • Highly customisable interface
  • Integrated development environment for EAs

cTrader

  • Level II quotes
  • Server trailing stop
  • Cloud service to keep all accounts and templates in one place
  • One-click-trading and advanced chart trading
  • FIX API

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


Deposit and withdrawal options:

  • Credit/Debit cards
  • Bank wire transfer
  • Neteller
  • Skrill
  • Local payment methods in Indonesia, Malaysia, Bangladesh, Pakistan, India, Thailand, Vietnam

OctaFX Bonus & Promotions

To reward their clients’ loyalty, OctaFX offers very generous bonuses and promotional programmes.

  • Deposit Bonus

Both MetaTrader based accounts and the cTrader accounts qualify for fully withdrawable deposit bonuses in the percentage of 10%, 30% and 50%


Conclusion

After a careful review of OctaFX services and operations, we can say that we’re impressed with what OctaFX has to offer their traders. They really care about their clients and their customer support team is proven to be the most helpful and professional in the industry. In addition, their bonuses and competition offers are worth mentioning as well. They offer exhaustive Education section and free demo account with exactly the same conditions and execution speed as the real one. It comes in handy for beginners or those who want to test-drive OctaFX services without risking personal funds. What’s more by joining one of their entertaining Demo contests, you can win a real cash prize!

All in all everything seems to be quite transparent so we would totally recommend giving OctaFX a try.

OctaFX trading information

WWW https://www.octafx.com/
Address 2 Devonshire Square, London, England, EC2M 4UJ
Headquarters London
Free phone +17844574224
24 hour support
Partnership programs
Expert advisors
Free education
Bonuses, Promotions
Forex contests, competitions
1st deposit bonus
Mobile trading
Automated trading
Demo account
Swaps
24 hour trading
Scalping
Hedging
Digits after the dot in quotes 5
Minimum position size 0.01
Spread Type floating
Pip spread on majors 0.3-0.7
Leverage 500
ECN, $ 50
Standard account, $ 50
Mini account, $ 5
Popular payment methods Credit Cards, Wire Transfer, Skrill, FasaPay, Neteller, Local banks
Account currencies EUR, USD
Other instruments Gold, Silver, Crypto, Indices
Languages English, Indonesian, Chinese, Portuguese, Spanish, Bahasa Malaysia, Hindi, Bengali, Urdu, Vietnamese, German
Platforms Metatrader 4/5, MT4/5 Mobile for Android/iPhone, cTrader, cTrader WEB, cAlgo
Broker type Broker
Regulation FCA UK
Foundation 2011
Copy Trading Brokers
Bitcoin Forex Brokers

Good broker. What I feel comfortable about OctaFX is their immediate response to any queries, that to me is the best thing you can expect from a broker. They offer various types of withdrawals and deposits which is also great. Cons would be their spread and commission. Huge spreads on nzd and cad. Careful when the market closes and opens as the spread could wipe away your stop loss ending a good trade. happened many times. Otherwise a broker I would trade with for a long time!

Abdul   28 November, 2019  

octafx is a very good broker but the spread is very high. GBPNZD = 45 to 50, GBPJPY =28 to 33, gold = 28 to 33, can possible add one more option for standard account, same as in Exness. in Exness standard acc spread very low. thanks. consider please.

Muhammad Jamil   19 August, 2019  

I can call OctaFX a rather good broker. There are a couple of points that personally annoy me somewhat. First of all, this is a rather long withdrawal of profit. If we talk about the cons, this one for me it is the main. On the other hand, the company takes care of its customers, tries to make trading as comfortable and profitable as possible. With the right approach, you can get good profits with the help of their analytical channel. The terminal works well. All this speaks of a clear focus on the result in the provision of high-quality brokerage services. In any case, I want to believe it.

George   13 August, 2019  

I studied trading in several companies on competitive accounts. Speaking in general about trade, I will say that the profitability of this business has no limits, it all depends on many factors. But if you approach this issue correctly, then you can squeeze the maximum even from the sum of $1000. I managed to earn huge sums on demo accounts, but this is just a demo. You can't hold this profit in your hands, so you can't call it profit. In general, if you speak for real accounts, then earnings are possible, and very good. My last refuge is OctaFX. About this company I can say that they definitely know their business and are doing it well. According to the results of the work, I can call the company honest. For fans of freebies - there is nothing to do, you can not even rock the boat. Contests and bonuses will not help you much. But for those who want to work hard and earn there are comfortable conditions in OctaFX. I personally know several traders who, like me, invested in this company and did not regret it.

Theodor   12 July, 2019  

My trade with OctaFX became more productive not immediately, but after a few months. I have increased the number of successful transactions. And the losses have reduced to a reasonable minimum. If you do not succed from the beginning, do not worry, a month for a month is not necessary. Sometimes you need to wait and not hurry, and sometimes another month becomes better than the previous one.

Andrew   10 July, 2019  

OctaFX is a reliable broker, I've been with them for quite a long time, the obligations that they gave me at the very beginning are fulfilled, and I don't need more. Profits are coming, I withdraw funds regularly, orders are opened and closed instantly, and I consider these points to be an indicator of a good and reliable broker. After all, as somewhere they have already written, or maybe not, but I still say it again, my opinion is that stable earnings from closed deals with further withdrawal are important for a trader.

Bart   9 July, 2019  

They are scammers. They contest against their clients to take their money. I opened a ctrader account (2071835) them. They even know how to jump your protection just to take all your money

Francis Udoh   15 June, 2019  

OctaFX is surely not a bad broker. I have been trading with them for the past few months and so far I have only the best impressions from working with them. It seems that they succeeded in those things where many other major respected broker companies in the market do not reach. In particular, they provide very good execution, lack of requotes and slippings. Spreads and swaps still make me happy too, as they remain within normal limits even for the person with the most minimal deposit. We will continue to work and observe. Time will tell.

Pavel   10 June, 2019  

OctaFX is one of those companies with which you can trade both in forex and other markets with very favorable terms. Broker should be paid tribute, because they offer a fast execution, and good trading conditions, the spreads are exactly the most adequate on my experience, without extensions in a quiet market, and everything is decent on the news released. The platform still has a lot of different settings that only OctaFX could get acquainted with, since it used to work only on MT4. Now I can say that MT5 is much cooler, though, I am one of those who still biased about it at first, the demo version was not particularly convincing at first. I am pleased with the cooperation, I can't boast of outstanding successes, but I have already earned a little, and I am very pleased with these results.

Dean   3 June, 2019  

Day Light Robbery or Standard Practice by OctaFX? Submitted the following email to support twice so far with no response. Hello OCTAFX Support/Management, Following our multiple communications we recently joined OCTAFX with the intention of trading fundamentals. Today we had 10 precisely synchronised trades running across 5 global brokers including OCTAFX and found the most astonishing results! With precisely measured trades 0.1 LOTS and 5 PIPS SL we had a nice mix of profits averaging $10 USD per trade or losses averaging $7 USD per trade from all other ECN and NON ECN brokers - except yourselves which generated $78 USD in losses! The spreads measured at execution with OCTAFX were precisely EURCAD 3.4 PIPS and CADJPY 2.6 PIPS and yet with the 5 PIP Stop Losses we incurred losses of up to $35 on a single trade without any chart evidence whatsoever! Can you please explain clearly what is going on here?

Ben   1 August, 2018  

Dear Ben, We have reviewed your complaint thoroughly, and our team has provided you with detailed results of their investigation, explaining what occurred during your news trading. We're sorry to hear about your discontent with our services and the fact that you do not wish to acknowledge that news trading involves higher risk and result in gaps which you've experienced. We would like to remind you that all rules concerning the execution of pending orders can be found in our Customer Agreement and in accordance with the said document we did not find any abnormalities in your trades.

OctaFX Rep.   31 August, 2018
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