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OctaFX Review and Information 2023

OctaFX Information and Review OctaFX
Registration Open Account Now
Voting Rating 94%  –  6%
Reviews Rating
Regulation SVG
Trading software MetaTrader4, MetaTrader5 for Android/iPhone
Headquartered Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines

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. 

OctaFX detailed information and reviews

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.

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. 

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.

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 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):

Offering of Investments

The amount of instruments has increased - Tradeable Symbols (Total) WAS - 80, NOW - 230 including:

OctaFX Trading Information 2023


WWW https://www.octafx.com/
Address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
Headquarters St. Vincent and the Grenadines
Free phone
24 hour support
Partnership programs
Expert advisors
Free education
Bonuses, Promotions
Sponsorship contests, competitions
1st deposit bonus
Mobile trading
Automated trading
Demo account
Swaps
24/5 trading
Scalping
Hedging
Digits after the dot in quotes 5
Minimum position size 0.01
Spread Type Variable
Pip spread on majors 0.3-0.7
Maximum Leverage 500
STP, $
ECN, $
Standard account, $ 50
Mini account, $ 50
Popular payment methods Credit Cards, Wire Transfer, Skrill, FasaPay, Neteller, Local banks
Account currencies EUR, USD
Available assets Gold, Silver, Crypto, Indices
Languages English, Indonesian, Chinese, Portuguese, Spanish, Bahasa Malaysia, Hindi, Bengali, Urdu, Vietnamese, German
Platforms MetaTrader4, MetaTrader5 for Android/iPhone
Broker type Broker
Regulation SVG
Foundation 2011
Copy Trading Brokers
Bitcoin Forex Brokers

OctaFX Reviews and Comments

Octafx is losing trust and values. Due to some emergency i had placed withdrawal request on 3/1/2023 it's been 10 days since funds got debited from wallet but not credited to my bank account. Submitted my bank statement and all supportive documents Nothing is Fixed. I have been contacting live chat support team they say its in progress and rectified since 10days. MT4 A/c: 26983318. Amount - 1633USD. Withdrawal Request ID -9056517. Payment Transaction Number : 23736059. Please dont play with Investor Funds. Its just my Principle Amount which had requested for withdrawal not Any Profit Withdrawal kindly process my money to bank A/c.
  12 Jan 2023  
Dear Sharanya,

We're very sorry your payment is taking longer than expected.

Upon following your case, we've found that our team processed the transaction on the same day as requested, and there weren't any issues from our side at the time. After your previous reports about not receiving the payment, we can see that our Financial Department got in touch with the payment provider and requested more information from their end. Unfortunately, we're yet to be updated, and you can rest assured that once we obtain the data, we'll contact you immediately. In addition, we initiated another request for updates and will hopefully receive them shortly.

Once again, we apologize for this hold-up. We understand how frustrating it is to wait longer, and what happened doesn't sound like the services we aim to provide, and we'll ensure to take your case on board with our team to avoid such issues in the future. OctaFX always complies with payment obligations, and we're committed to resolving this unexpected inconvenience.

Please bear with us and allow a little bit of extra time. You can also reach out to us at support@octafx.com for more information, and our team will be happy to assist you anytime and keep you up-to-date.

Kind regards.
OctaFX Rep.
OctaFX (Official)   18 January 2023
Octafx stole my 23000$+ and blocked my account. Upon requesting refund they are telling me you've withdraw more balance than deposit, no refund, they block your account if you profit, so stay away.
  29 Dec 2022  
Dear Hamid Ali,

We deeply regret you felt like sharing your feedback twice.

Please note that our company constitutes a specific set of trading conditions for our customers' benefit. In cases when our customers violate these terms, as a company, we reserve the right to no longer provide our services to the person deemed in breach of these conditions.

Upon further investigation, we've found a specific abuse of our negative balance protection feature in your account. Notably, some of your orders were opened at once, hedging from two trading accounts. The negative balance protection adjusted your balance in one account while you gained profit in another. Doing that eliminates the risks and abuses the feature provided to our clients as a benefit, and since we cover these adjustments ourselves, we consider such actions an abuse.

That being said, we want to refer to our Customer Agreement, clause 8.2, for the reasons behind your account access restriction and cancellations of the orders affected by the violations:

Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company'strading conditions may be a subject of investigation. Should facts of such abuses arise, the profit and/or loss gained with this advantage may be cancelled by the Company's decision. The Client fully acknowledges this.

In conclusion, we want to emphasize that following everything that was mentioned, the cancellation of the profit made through the platform abuse and the rejection of providing our services further to you is clearly explained and justified from our end, and we can't proceed with a refund.

Please email us at support@octafx.com with any further questions.

Kind regards,
OctaFX Rep.
OctaFX (Official)   9 January 2023
Submitted a withdrawal but still have not received my money. Trading acc no 41188579.
  9 Dec 2022  
Dear syakirin,

We're sorry it took longer to receive your funds than you expected.

Upon looking into your case, we've found that your last withdrawal request was completed on December 6, the same day as requested. If it's not the payment you're referring to in your review or your funds haven't arrived yet, please get in touch with us at support@octafx.com. We also encourage you to provide a recent bank statement and the withdrawal ID. This data could help our team investigate what could possibly go wrong.

By taking this chance, we'd like to note that our Financial Department ensures that most payments are processed timely, and delays are rare. However, if your transaction is taking longer, we ask you to reach out to us directly so we can look into what happened immediately and provide further information.

We're looking forward to hearing from you anytime soon.

Kind regards,
OctaFX Rep.
OctaFX (Official)   19 December 2022
How can one of the leading broker depend on one payment solution provider? I am a very small trader but want to trust the platform but how should I trust when small amount are not being processed. I made 3 withdrawals which are in pending and on contacting the customer care they say it is been processed from our end but we are facing difficulties/technical issues with our payment solution provider/payment gateway so we ask to wait till we solve the issue. So I come back to my above question, �how can you be depended on single solution? To deposit the money you have multiple mediums but for withdrawal only one?
  7 Dec 2022  
Dear Prabhat Tyagi,

Thank you for raising our attention to the issue. We're very sorry you experienced difficulties withdrawing your funds.

After looking into your case, we've found that you cancelled two of the mentioned payment requests and created another one today. Please be informed that we ask our customers to allow us up to 3 business days for payment processing. Yet, keeping in mind the recent issue with transactions via local banks in India, we may ask you to permit us extra time. Also, please avoid creating new requests if you already have one in the pending status and try to use other payment methods such as Skrill, Neteller and crypto wallets until the issue is resolved.

Once again, we apologize for the increased processing time. Please note that our team is working diligently to resolve it timely and staying abreast of all new developments with the payment provider. Hopefully, things will be back to normal soon; meanwhile, we encourage you to email us directly at support@octafx.com with any questions regarding the current situation. Our team would be happy to help you out.

We're looking forward to hearing from you anytime soon.

Kind regards,
OctaFX Rep.
OctaFX (Official)   8 December 2022
W8720504 and W8720485 are my withdrawal request number. I have made a withdrawal request on 5th December at 3.30 pm. When I contact the customer service, they are providing lame excuses saying, payment provider yet to approve the transaction. It is on your end. If i made delay on the deposit, will you credit the fund into our account. No right. There were time , octafx had deposit withdrawing issues few months back and i regain the trust with you guys, kindly don't spoil it again. Please find an alternative to your customer. If the customers are trustworthy and why can't you be the same. Kindly do some initiative and resolve this issue. Please credit my withdrawal amount asap. Thanks
  7 Dec 2022  
Dear Padma Meenakshi,

Thank you for bringing this issue to our attention. We're very sorry your payments are taking longer than you expected.

Unfortunately, we're undergoing technical issues with transactions through local Indian banks, and the processing time has increased accordingly. Our team is trying to resolve it shortly, and hopefully things will be back to normal soon. Meanwhile, we encourage you to allow us extra time for payment processing, avoid creating new requests via local banks and use other payment methods such as Skrill, Neteller and crypto wallets.

We sincerely apologize for the inconvenience and want to assure you that this is only temporary. Indeed, waiting can be highly frustrating, and our team perfectly understands that. We will be happy to answer all your questions and update you with the latest if you get in touch with us at support@octafx.com.

We're looking forward to hearing from you soon and genuinely hope that this won't overshadow your overall experience with OctaFX.

Kind regards,
OctaFX Rep.
OctaFX (Official)   8 December 2022
Facing the same issue. On contacting the customer support they say it’s an issue with the payment gateway they use. My simple question to them is “Being one of the leading broker in this field how can they be depended on single solution and not have an alternative solution to tackle the down time”. My trading account is 12904833. I have 3 pending withdrawal W8751780, W8750588, W8736684.
Prabhat Tyagi   7 Dec 2022
My request no 10905855. I made a deposit of 2000 rs on 15 nov via UPI but it still not credited to my octa fx account..I contacted several times to customer support..everytime they give same reply that ur request is in process our finance team are working on that. I even shared screenshot to them of transaction. but yet they are saying same thing again and again.
  19 Nov 2022  
Dear Umesh Bajaj,

Thank you for reaching out and letting us know about the issue.

We're very sorry that it took longer to receive your payment. Unfortunately, we're undergoing technical issues with UPI at the moment, which specifically impacts the processing time. Yet, we can see that your transaction was completed on November 20 after you reported it via live chat. Our Financial Department initiated an investigation right after, and your funds were credited following it. If you have further questions, please contact us at support@octafx.com, and we'd be happy to assist you.

Once again, we apologize for the waiting time. We understand that it must be frustrating, and you can rest assured that our team is trying to look into the issue and fix it shortly. Until the problem is resolved, please try to use other payment options, which are available in your Personal Area in the deposit section.

You can also get in touch with us anytime, and we'll be happy to address your concerns.

Kind regards,
OctaFX Rep.
OctaFX (Official)   25 November 2022
I made a withdrawal request on November 15, 2022, and as per octafx website, the amount will be credited in maximum 3 days. Even after 3 days, I still didn't receive the money. Whenever I contact their support team, they give different reasons and ask me to wait. I can see in the previous review that their withdrawal was completed the next day. I don't know why can't they process my request even after 3 days. My withdrawal request ID is W8510417, and my trading account is 12669475. I have never experienced like this with Octafx. Makes me wonder about their customer service.
  18 Nov 2022  
Dear Madhan Kumar B,

Thank you for taking the time to present the issue to our attention.

We're very sorry that your payment took longer than expected. Unfortunately, we've been undergoing some technical difficulties with Netbanking, which affected the processing time. We can see that your transaction was completed on November 21, and we also appreciate you confirming that. If you have further questions, please get in touch with us at support@octafx.com, and we'll be happy to help you out.

By taking this chance, we wish to note that our Financial Department is putting in hard work to ensure most payments are processed timely. However, in rare cases, it may take slightly longer, and we ask our customers to allow us extra time for investigation and troubleshooting. Meanwhile, our team is always here to assist and provide you with the latest.

Once again, we regret the delay and will do our best to take your case into consideration and improve our workflow. We genuinely hope this incident won't overshadow your previous experience with OctaFX and you'll give us a second chance.

Please don't hesitate to message us whenever anything comes up. We're always here for you.

Kind regards,
OctaFX Rep.
OctaFX (Official)   23 November 2022
Update: My withdrawal has been completed on November 21, 2022.
Madhan Kumar B   21 Nov 2022
My request w8511637. I made a withdrawal. The customer service ask me why am I making a withdrawal with short period and the withdrawal is delay. I wanted to say why is it I cannot made a withdrawal if I have made money and I don't want trade. Is it must wait till I lose back? Till now they are still delaying my withdrawal.
  16 Nov 2022  
Dear Tan,

We're sorry that your payment took longer than you expected.

After looking into your case, we've found that you placed your withdrawal request on November 15, and it was completed today, November 16. Please be informed that we ask our customers to allow up to 24 hours for a completed payment to appear in their bank account. We hope your funds have arrived by now and the issue is resolved. If not, please wait within the mentioned timeframe and contact us at support@octafx.com for further inquiries.

By taking this opportunity, we also want to briefly explain that our Financial Department processes bank transactions manually and usually ensures to complete them in a few hours. However, certain delays are possible for such financial operations, and we may ask for up to 3 business days for payment processing. Meanwhile, you can always get in touch with our team via email or our website; they will be happy to provide you with the latest.

Furthermore, as a reliable international Forex broker, we strictly follow our AML policies to prevent possible money laundering attempts, which is why sometimes, our team may ask you for reasons if you decide to withdraw your funds right after depositing them.

We hope this clarifies what happened and the incident won't exceed your previous experience with our brokerage.

Please message us whenever you have any questions. We'd be happy to talk to you.

Kind regards,
OctaFX Rep.
OctaFX (Official)   16 November 2022
Hello. Trading account no. 20793642. It's been 3 business days since my withdrawal but the status is still pending. I tried to connect with chat support but still same answer that finance team is checking and processing your amount. It's very hard for to see that kind of delay. As I am part time trader and I have only account with octafx. Please let me know when my money is going to come in my bank account. I did withdrawal request last Friday.

  1 Nov 2022  
Dear Chox,

Thank you for taking the time to bring this issue to our attention.

We're very sorry that your withdrawal request took longer than you expected. As we can see, you placed it on Friday, October 28, and it was completed on November 2. That said, we genuinely hope your funds have arrived, and the issue is resolved. If you have further questions, please email us at support@octafx.com, and we'll be happy to assist you.

Once again, we regret that your payment was delayed. Please note that our Financial Department is doing its best to complete most payments within a few hours, yet certain delays are possible in rare cases. On such occasions, we ask our customers to allow us up to 3 business days for investigation and payment processing. This is in line with our Customer Agreement, and you can read it in full here: https://www.octafx.com/company/customer-agreement/

We hope this incident won't overshadow your experience with our brokerage and you'll continue to enjoy our services.

Please email us anytime if there's anything else we can do for you.

Kind regards,
OctaFX Rep.


OctaFX (Official)   16 November 2022
Scam broker, submitted a withdrawal but still have not received my money. trading no 41188579. Do not use this broker.
  21 Sep 2022  
Dear syakirin,

We're sorry to read about your experience withdrawing your funds.

After reviewing your case, we've found that you placed the last withdrawal request on September 20, and it was completed on our side within an hour. We wish to remind you that we ask our customers to allow up to 24 hours for a completed payment to appear in their bank accounts. That said, we genuinely hope your funds have reached your end by now, and the issue is resolved. If not, or you have further questions, please get in touch us at support@octafx.com. We'd be happy to help.

By taking this chance, we also want to inform you that our Financial Department ensures to process most payments in a few hours, but we may ask for extra time. As a reliable international Forex brokerage, we always comply with our obligations. However, our Customer Agreement constitutes the payment processing time of up to three business days, and we highly encourage you to keep that in mind. You can read it in full on our website here: https://www.octafx.com/company/customer-agreement/.

Please feel free to reach out to our team anytime. They're always here for you.

Kind regards,
OctaFX Rep.
OctaFX (Official)   27 September 2022
Hello. Trading account no. 19174733. It's almost 1week and still my withdrawal of total 1800usd is not received yet. I tried to connect with chat support but still same answer that finance team is checking and processing your amount. It's very hard for to see that kind of delay. As I am full time trader and I have only account with octafx. Please let me know when my money is going to come in my bank account. I did withdrawal request last Friday.

  2 Sep 2022  
Dear Ravi Saini,

Thank you for taking the time to bring this issue to our attention.

We're sorry you underwent trouble with one of your payment requests. Unfortunately, we couldn't find the withdrawal you're referring to and look into its status. That said, we'd encourage you to get in touch with our team at support@octafx.com and provide the payment ID or any other information that could help us identify it and track it on the system.

Also, we'd like to mention that usually our Financial Department ensures to complete payments in a few hours and delays are rare. However, in cases of technical issues, the process becomes less straightforward, and we may ask our customers to allow us extra time. Nevertheless, you can rest assured that our team is always here to help, and you can reach out to them via email or one of our social media accounts. They'd be happy to help you anytime.

We appreciate your patience and are looking forward to hearing from you soon.

Kind regards,
OctaFX Rep.
OctaFX (Official)   20 September 2022
Octafx is of the best trading platform that I have used. Easy to understand and simple interface for a beginner to go through without difficulty.
  31 Aug 2022  
Dear Chidozie John,

Thank you for reaching out and sharing your kind words with our community and us.

We appreciate you letting us know that you enjoy trading at OctaFX. Our team puts in hard work to ensure one of the most competitive Forex trading services, and they will be happy that your review reflects that. Needless to say, we also do our best to help our newcomers learn Forex trading and provide plenty of free educational materials, including text articles, video tutorials, live webinar sessions, demo trading and even trading courses.

If there's anything else you'd like to bring in, be sure to message us via one of our social media channels. We want to hear more from you.

Kind regards,
OctaFX Rep.
OctaFX (Official)   1 September 2022
Respected authorities, please give my withdrwal which is done on 30 august 2022 for $650, request id is w7664362, trading account number is 19039449. And is there any issue then please let us know about same. Till that time atleast do one call regarding same matters and even we want to discussed so many another matters for the same but I am not getting call since 2 days, even after making frequent call back request.
  31 Aug 2022  
Dear drashti patel,

We're very sorry your payment took longer than you expected.

Upon reviewing your case, we've found that the withdrawal you're referring to was completed today, September 1. We can also see that one of our managers contacted you by phone and explained about the payment processing. We genuinely hope that your funds have reached your end by now, but if not, please allow up to 24 hours for a completed payment to arrive in your bank account. You can also get in touch with our team directly at support@octafx.com, and they'd be happy to address your concerns.

By taking this chance, we wish to inform you that our Financial Department ensures to process most transactions within a few hours and delays are rare. However, in case of technical issues or heavy workloads, we ask our customers to allow us up to three business days for payment processing. This is in line with our Customer Agreement, and you can read it in full here: https://www.octafx.com/company/customer-agreement/.

Should you have further questions, please message us anytime. We're always here to help.

Kind regards,
OctaFX Rep.
OctaFX (Official)   1 September 2022
I have been trading more than 3 years in Octafx so far no problem but last week I withdraw 400 USD to my new bank account. Unfortunately I was entered wrong account number. They completed the withdrawal and processed. When I noticed that I entered wrong account I was contacted immediately Octa customer services. They said that the withdrawal completed and we can't retrieve the amount to your account. I shocked and write many emails to them still my problem in not solved.
  13 Aug 2022  
Dear Sakaya Ilayaraja,

Thank you for taking the time to bring this issue to our attention. We're very sorry you encountered problems withdrawing your funds.

After looking into your case, we've found that the bank account number you requested for your payment to be sent to was indeed typed incorrectly. And after you reported it to our team, our Financial Department took extra time to investigate the matter. In the end, they managed to return your funds to your OctaFX account on August 19, and as we can see, you have already withdrawn them. If you have further questions, please email our team at support@octafx.com; they will be happy to help you.

Also, we regret that you feel like our Customer Support team was less than helpful and didn't provide you with the updates. We will take your feedback on to our team and ensure to improve the quality of our communications in the future. And by taking this chance, we'd like to remind you to double-check your payment information when it comes to deposits and withdrawals. Unfortunately, even minor mistakes may cause payment processing issues and would take significant time to resolve.

Nevertheless, we genuinely hope that what happened won't overshadow your experience with OctaFX and that you'll remain a part of our community.

Please get in touch with us anytime if you have further questions. We're always here to help.

Kind regards,
OctaFX Rep.


OctaFX (Official)   25 August 2022
My withdrawal w7874314. The amount was rejected by my bank and yet is still pending under my acc. It has been days after days. The customer customer say will get back to me but until now no response.
  5 Aug 2022  
Dear Tan,

Thank you for reaching out to us and bringing this issue to our attention.

We're sorry you had trouble withdrawing your funds, and the transaction took longer than expected. Unfortunately, we couldn't identify you on our system and verify your complaint as the payment request you're referring to doesn't exist at OctaFX. With that in mind, we wish to encourage you to get in touch with our team via one of our social media channels and share your account information. They're always here to help and will be happy to provide the latest updates.

By taking this chance, we wish to remind you that our Financial Department ensures to process most payments within a few hours. However, in case of technical issues, the payment processing is not as straightforward as regularly, and we may ask our customers to allow us extra time for investigation on such occasions. Meanwhile, you can always reach out to our team directly and rest assured that they will do their best to assist you.

We're looking forward to hearing from you anytime soon, so please message us whenever you have time.

Kind regards,
OctaFX Rep.
OctaFX (Official)   11 August 2022
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