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OctaFX Review and Information 2022

OctaFX Information and Review OctaFX
Registration Open Account Now
Rating 92 %   8 %
Reviews Rating
Regulation SVG
Trading software MetaTrader4, MetaTrader5 for Android/iPhone
Headquartered Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
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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):

OctaFX Trading Information 2022


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
Pip spread on majors 0.3-0.7
Spread Type Variable
Maximum Leverage 500
ECN, $
STP, $
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

I made a withdrawal request today but I have still not received funds in my bank account, the request got completed within one hour but I have not received them in my bank account. W6490091 is the reference number. I needed that money urgently. People say right, only deposit are instant, not withdrawals.
  17 May 2022  
Dear Manthan Ambalal Patel,

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

After following up on your review, we've found that your withdrawal request was created and processed on the same day, May 17. We wish to remind you that it could also take up to 24 hours for a completed transaction to reach your bank account. As you haven't contacted us since then, we can assume that your funds have reached you and the issue is resolved. If not, or you have further questions, please reach out at support@octafx.com, and our team will be happy to look into this for you closely.

We want to underline that our Financial Department ensures that most payments, including deposits and withdrawals, take only a few hours. However, in rare cases, certain hold-ups are possible, and we ask our customers to allow us extra time for payment processing and get in touch directly on such occasions. Our team is always here to help, and they will be happy to assist you whenever you needed.

Kind regards,
OctaFX Rep.
OctaFX (Official)   19 May 2022
I have withdraw in my account at 12 May 2022. My request is W6435008 $1518.
  13 May 2022  
Dear Hurry,

Thank you for reaching out and letting us know about your payment request.

After reviewing your case, we've found that your withdrawal was processed during the first 24 hours. If you haven't received your funds yet, please don't forget that we ask to allow up to 24 hours for a completed payment to reach your account. You can also get in touch with our team at support@octafx.com after this time frame passes if your funds don't arrive, and our team will be more than happy to look into this for you.

By taking this chance, we wish to encourage you to reach out to us directly with regular inquiries. Our team is always here to help, and they will be able to update and help you much faster.

Kind regards,
OctaFX Rep.

OctaFX (Official)   13 May 2022
Email is slow and support is not helping. Keep email them but no reply although timeframe is betqeen 1hr to 3hrs.
  10 May 2022  
Dear M,

We're sorry to read about your dissatisfaction with our Customer Support team.

After looking into your review, we've found that you sent a few letters to our team on May 10 about verification. Our Know Your Customer team looked into it and verified your account on the same day. We're sorry that you had to wait slightly longer than you expected for a reply. Please note that our team handles many requests, and sometimes, it may take a while to get back to everyone in cases of heavy workload.

We genuinely hope that the issue is resolved, and now you enjoy trading at OctaFX to the fullest. You can also rest assured that we'll do our best to look into your feedback closely and try to reduce the time during which our customers expect to hear back from us.

Should you have further questions, please message us via social media channels. We'll reply to you shortly.

Kind regards,
OctaFX Rep.
OctaFX (Official)   12 May 2022
I deposited $1000 worth of bitcoins with Octafx pro, and was told that I cold withdrawal a sum of $10,000 after 7 days. I tried to withdraw only $2000 and was sent an email stating I need to deposit $3000 in order to enable a withdrawal. I replied back to that email asking for my refund. I sent messages to the support team through the website about giving my a refund. No one is responding. Simply give me back the money I put in, that�s all I�m asking.
  27 Apr 2022  
Dear Oct Coleman73,

We're very sorry to read about your experience.

Unfortunately, we couldn't identify you on our system and verify your complaint as you didn't provide your account information. Additionally, it appears that you dealt with a third-party website that illegally uses our brand name, as the name you mentioned is not associated with the official OctaFX.

Please note that at OctaFX, we don't guarantee any profit from your investments since Forex trading involves risks, and losses are possible for everyone. In the same way, we don't have a paid withdrawal procedure or any payment fees. You need to confirm your identity by submitting one of your identity documents and wait until our Know Your Customer team verifies your account to be able to withdraw your funds.

Once again, we regret what happened and encourage you to get in touch with our team at support@octafx.com or via our social media channels and share more information about the people you engaged with. We're always here to help and will be happy to look into the matter closely and take action.

Also, please read our guide on how you can recognise fraud online: https://www.octafx.com/company/news/fraud-notice-july-2021/ and stay safe.

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

Kind regards,
OctaFX Rep.
OctaFX (Official)   28 April 2022
I recently deposited RM250 in octafx, request number 8406120 and I have requested a refund and it was being processed from 18 april till now and I haven't received my money. When am I gonna get my money back?
  26 Apr 2022  
Dear Ryan Chai,

We're sorry your refund took longer than you expected.

After reviewing your case with our team, we've found that your deposit request was refunded on April 18 because of the violation of our age requirements. Please remember that we don't allow underage traders at OctaFX, and you have to be at least 18 years old to be eligible to trade with us. Our Customer Agreement underlines it, and you're welcome to check it in full here: https://www.octafx.com/company/customer-agreement/.

We wish to ask you to allow for your refund for up to 5 business days. If you haven't received your funds by now or have questions, you can email our team at support@octafx.com with your recent bank statement, and they will be happy to look into this for you. However, we genuinely hope that your funds have already arrived.

Please don't hesitate to get in touch with our team whenever you may need it. They're always here to help.

Kind regards,
OctaFX Rep.
OctaFX (Official)   29 April 2022
Octafx took my money from my visa account when I made my deposit, but on withdrawal they forced me to make use of tether even refused to use my Bitcoin. They are the biggest scam. Tether has no license to operate here in SA and my money is locked now with tether. I regret the day I opened octafx account.
  23 Apr 2022  
Dear Thembeka,

We're very sorry to read about your dissatisfaction with our services.

Upon following your case with our team, we've found that you deposited into your OctaFX account via Mastercard and withdrew your funds via Tether on April 26. Regrettably, some payment methods, such as bank transactions, are not supported for withdrawals in South Africa due to technical limitations. That's why we ask our customers from the region to use other payment options like Bitcoin, Dogecoin, Ethereum, Litecoin or Tether (ERC20 or TRC20) instead.

Please note that we regret the inconvenience and want to let you know that our team is actively working on other payment options. Also, in extraordinary cases, when none of the available methods is convenient for you, we encourage our customers to contact us and describe the situation. Our team is always here to help, and they will be happy to hear from you and look into the matter closely to work out a solution that suits you.

We genuinely hope that you managed to receive your funds via Tether and that the issue is resolved. If not, or you have other questions, please get in touch with us via social media channels, and we'll be more than happy to help you.

Kind regards,
OctaFX Rep.
OctaFX (Official)   4 May 2022
I requested for withdrawal on 20/4/2022. id W6146543 $537 but still not received, I am really worried about this. Please quickly give my $537 money.
  21 Apr 2022  
Dear Rahman,

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

After reviewing your case, we've found that you placed your withdrawal request on April 20 and our Financial Department processed it the next day. Please remember that we ask to allow up to 24 hours for a completed transaction to reach your bank account. As you haven't contacted us since then, we can assume that the issue is resolved and your funds have arrived. If not, or you have questions, please reach out at support@octafx.com, and our team will be happy to look into this for you.

By taking this chance, we wish to inform you that our team ensures that most payments take only a couple of hours and hold-ups are rare. However, in extraordinary cases, certain delays are possible, and we ask our customers to allow us up to three business days for payment processing. It's absolutely in line with our Customer Agreement, and if your payment is taking longer, we highly encourage you to get in touch with us directly.

Our team is always here to help, and they will be happy to come to the rescue whenever you need it.

Kind regards,
OctaFX Rep.
OctaFX (Official)   28 April 2022
I have rquested for withdrawal 2800$. Date 17-03-2022. W569763 a/c 02380095002203016. But still not received yet. I am so worry about this plz help me. Even support team did not respond well what i do?.
  5 Apr 2022  
Dear Muhammad Zahid,

We're very sorry to read that your payment took longer than expected and our team didn't provide sufficient assistance.

Unfortunately, we couldn't identify you on our system and verify your complaint. We'd appreciate it if you could get in touch with us at support@octafx.com and share your trading account number and other relevant information to help us understand what could go wrong. Our team is always here to help, and they will be happy to look into the matter and investigate it promptly.

Meanwhile, we wish to note that our Financial Department ensures that most payments take only a couple of hours and hold-ups are rare. However, when specific difficulties take place, we ask our customers to reach out to us directly for further investigation and allow extra time on such occasions. You can rest assured that our team will be happy to assist you whenever you need it and help as much as possible.

You may also write to us on social media and provide more feedback about your communication with our team. We'll be happy to look into it and make possible changes based on your suggestions to improve your experience.

We're looking forward to hearing from you anytime soon, so please don't hesitate to message us.

Kind regards,
OctaFX Rep.
OctaFX (Official)   7 April 2022
Waking up to a trade I didn't place on Friday and my account is swiped off with me not placing a trade, how octafx? Is that how octafx now do, place a trade automatically and swipe off equity, this is bad.
  4 Apr 2022  
Dear Oluwatosin Adefela,

Thank you for taking the time to share your concerns with us. We're very sorry to read about your experience at OctaFX.

Upon following your complaint, we've found that your recent orders were closed by stop out. Right after, you got in touch with our Customer Support team and reported that your account data was breached and you did not place these trades. Our Know Your Customer team initiated an investigation and sent you the guidelines via email, but you didn't get back to them. That being said, we'd appreciate it if you could look into this email and share the required information with our team.

By taking this chance, we wish to inform you that OctaFX is a reliable international Forex broker with over ten years of experience. We always ensure our customers' funds' safety, comply with our obligations and never engage in malpractices or interfere with our traders' accounts. We want to help you and encourage you to message us whenever possible.

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

Kind regards,
OctaFX Rep.
OctaFX (Official)   7 April 2022
I have been scammed with lost of money with this trade. I want to know how to get my refund. I have taken up lost of accounts here in South Africa. I want answers.



  25 Mar 2022  
Dear Nazia Mahomed,

We're very sorry to read about your experience with our brokerage.

Regrettably, we didn't manage to identify you on our system and verify your review with our team. We hoped you could write to us at support@octafx.com about what happened and share your OctaFX account number. Our team is always here to help, and they will be happy to look into what could go wrong in your case and assist you as much as possible.

In the meantime, we wish to note that OctaFX is a reliable international Forex broker with over ten years of experience. We provide one of the most competitive trading services in the industry and never engage in any malpractices nor interfere with our customers' accounts. We believe that your review requires a meticulous investigation as what you described doesn't sound like the services we aim to deliver.

We're looking forward to hearing from you anytime soon, so please don't hesitate to get in touch anytime.

Kind regards,
OctaFX Rep.
OctaFX (Official)   31 March 2022
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