OctaFX Reviews & Comments 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

I can see people make comments here that broker is regulated. Regulated doesn't mean well operated. Time after time, I face problems with order execution. Of course, broker doesn't violate any rules or standards but it makes me feel uncertain about broker itself. I can confirm from my statements that OctaFX has much higher spreads. Limited orders are not executed properly. 1 of 3 pending orders are canceled by broker due to price fluctuations or high volatility. These are all signs of bad broker.

Sean   6 June, 2017  

OctaFX is regulated broker and that is a proof of its reliability. I affirm that it is true. Mostly I am trading here with shares on CDF contracts. Gain profit with exotic currency pairs several times trading on forex market on the MetaTrader 4 platform. Here I get spread compensation or rather spread decrease due to an active trading. Have tried non-dealing desk with direct bank access. It really provides the fastest execution ever and the best pricing. Like this broker.

Darius   15 June, 2016  

I started a month ago and should confess that the things go not so well with this broker as I expected. It doesn’t mean it is bad, but the low spreads seem to be its only strong point. Perhaps one can be impressed by the fast execution but it is not a peculiarity - most brokers do their best to show the high speed. At the same time there is a lack of tools and bonuses. Yeah…they offer a deposit bonus for MT4 account but that is not enough. Within the periods of high volatility I face slippage. The same is observed during news release. So, I could not recommend it but still I would not recommend against it also. Take a try if you want to know more about brokers.

Ed   11 June, 2016  

OctaFX is worth to trade with. Thank you for the German version (Danke schon!), it makes things easier. Their spreads grew only with news releases, because I traded with other brokers and their spreads grew for now reason, this is unfair I think. And withdrawals are really mean profit which you can get, not just a word, you know.

Dangerous   15 December, 2015  

Most of the instruments provided by this broker are no affordable spreads. No wonder many of the Forex traders never deal with them even once!

bdforext   17 September, 2015  

Dear bdforext,
Thank you for your review. However, as an official representative of OctaFX, I would like to stress that we have the tightest spreads possible (0.2 minimum spread for EUR/USD). I hope you'll have a positive trading experience with us in the future.
Kind regards,
Hanna

OctaFX_Hanna   23 November, 2015

I'm testing OctaFx and first of all (OctaFX pay attention, please)) I am not very satisfied with the payment systems you provide, actually, I would prefer Paypal, but Ok, it is more a preference than a real demand or complaint. Speaking about pluses I would say that the withdrawal process and speed of their services on the whole make me return to OctaFX again and again, more than enough, I was prepared for the worst. Besides I had some issue with their verification process (documents were declined), but their customers service helped me without any delay and much words. I dare say that the withdrawal thing has really surprised me in a positive way, hope that the level of their services will remain the same, any way, I will keep you up to date.

Xian_wei   3 September, 2015  

As for me, I have quite a good experience trading with OctaFX. One of the major advantages for me, which I found while dealing with them, is a smooth and fast withdrawal process, better than expected. Many have some issues about their regulation and have doubts about their reliability, but if you trade legally and follow their terms and conditions, you would not be disappointed with their service, I suppose.

Jack   25 August, 2015  

The phrase "after i won a lot of money" is the first signal to bring this "scam" into a question). What about the details of your trade? Have you contacted with OctaFX, their support?

Jack   24 August, 2015  

Octafx was the best scambroker. Why is it here?
I used to open one account at Octafx. After I won alot of money,Octafx quickly delete transaction history. Then they challenged me to force me to withdraw the amount of money i deposit.

LeoNam   10 February, 2015  

Good broker with tight spread and fast execution. They also held demo contest and weekly prediction contest regularly and from my experiences after participating and successfully withdrawal prize money from both contest without any problem I give them 5 out 5 stars.

j0gy   8 September, 2014  

How to review,
I dont receive my ib comission for 2 day ago and them also cannot confirm when will credited to my account.
Swap free. Yes swap free but they change to charges. Still got charges when you close your trade. But when you trade at demo account, no charges applied.
Client cannot transfer their account under ib now. They said got technical issue but that all nonsense.

psucho   8 May, 2014  

octa fx is very good broker,no requote,low spread,etc

sutrisman   11 February, 2013  

Never heard about them. Where are they regulated? Anybody knows?

Roman   6 February, 2013  

Dear Roman,
OctaFX is regulated by FCA, UK. I hope it helps.
Kind regards,
Hanna,
OctaFX official representative

OctaFX_Hanna   23 November, 2015

With popularity of FX trading moving higher, the demand for the services of the dealing desks and brokerage companies grows subsequently. Thus, the question of making the right choice of a broker constantly remains on the agenda.

In most cases difficulties are experienced by the forex beginners who are unaware of some aspects of the broker's trading operations, therefore new clients tend to seek help from mature fellow traders. We provide an opportunity of getting acknowledged with professionals' viewpoints and learning about their experience of trading with many various brokers.

Of course, it is not wise to make a final choice of a forex broker based just on other's opinions; however, comments and reviews about OctaFX shed some light on how responsible the brokerage company is, and what is the level of the services offered. When making a choice you may seriously take into consideration the amount of happy or unhappy comments about the broker that you have looked through.

Reviews about OctaFXthat are presented in this section may be of different kind: positive, negative, or neutral. All of them have been checked by our moderators for objectivity, but responsibility for their content remains completely with their authors.

We recommend that forex 'freshmen' read all the reviews carefully before making a final decision about a broker to open an account with.


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