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?
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.
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.
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.
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.
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!
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.
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.
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?
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.
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.
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.
octa fx is very good broker,no requote,low spread,etc
Never heard about them. Where are they regulated? Anybody knows?
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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: Clients love OctaFX for its...
Regulation: FCA UKOctaFX trading information
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