OctaFX — Forex Broker Rating and Review 2020

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
Sponsorship 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
Pip spread on majors 0.3-0.7
Spread Type floating
Maximum Leverage 500
ECN, $ 50
STP, $
Standard account, $ 50
Mini account, $ 5
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 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

I have the octafx copytrading app, but I fear they might scam me.

Ebudon   4 September, 2020  

OctaFx will deposit your money within few minutes but they will not withdraw your money. Trying to make excuses all the time.

ZM   19 August, 2020  

I have a Account Octafx I deposited my money 1500INR to My Trading account due to some Octafx Internal name issue my money is not credited to my Octafx account. I am waiting for last two day till now my money is not refunded my bank account kindly refund my money.

Aravindhasamy   13 August, 2020  

You have got your refund till now or not?

Kashif   28 September, 2020

Octafx broker is very trusted trading system. I prefer to you.

Ali   24 July, 2020  

I placed a withdrawal using VISA and it was declined. They told me that they are having issues with VISA. When will this be resolved, I am not comfortable using a third party for payment?

JP   23 July, 2020  

I am yet to receive my bitcoin withdrawal I placed hours ago. They have been telling me they are having issues with Bitcoin. Please get this resolved. Thanks.

Uba Clinton Nzubechi   22 July, 2020  

Did you receive your withdraw? I am being told that they are having issues with VISA.

JP   23 July, 2020

I tried to open a trade on XTIUSD several times but is still not opened. Is there any problem with this currency pair?

Thabi   8 June, 2020  

i was useing their demo account to check regarding spread and their spreads are too high and during night its more than what they promise.

jack   10 April, 2020  

Yeah I thought I'm the only who noticed, the spread increases dramatically, when they notice those particular pairs which are giving us profit the increase the spread, today the major pairs increased up to 56 pips spread, I had 3 open trades and 1 of them hit SL due to the spread and the others were in loss for a while.

Kea S   4 May, 2020

yes it is true. they make too much spread on the trade which is going to our direction. it's soo sad to know. is there any broker who is with low spread?

Abhishek   15 May, 2020

In copy trading how many percentage is gose to broker

Zaheer   19 March, 2020  

$3000usd Fee for withdrawal! After making 12.5 lots and requesting a withdrawal request, they are charging me 3000USD of commission for deposit and withdrawal where their page is full of ads that are free.

Daniel Santiago Becerra   17 December, 2019  

hi, can pls share further, i am a new one and this point is alarming for me, what amount you spend and earn which contribute to pay them usd 3000 commission?

Ahmed   5 February, 2020

All Reviews & Comments
OctaFX Rating and Review

OctaFX Rating

86 %   14 %


OctaFX Reviews Rating

Reviews Rating OctaFX - 5

Reviews & Comments

OctaFX
25 Sep, 2020   USD/CAD consolidates in a range, around mid-1.3300s

USD/CAD remained confined in a narrow trading band through the early European session. Coronavirus jitters underpinned the safe-haven USD and extended some...

USD/CAD forecasts
OctaFX
24 Sep, 2020   USD/JPY retreats from 1-week tops

USD/JPY witnessed a modest intraday pullback from mid-105.00s, or one-week tops. A softer risk tone extended some support to the safe-haven JPY and exerted pressure...

USD/JPY forecasts
OctaFX
18 Sep, 2020   Gold clings to gains near session tops, above $1950 level

Gold regained positive traction and recovered a major part of the overnight losses. Sustained USD selling extended some support to the dollar-denominated commodity...

Forex Forecasts
OctaFX
14 Sep, 2020   Mildly offered inside a triangle above 100-HMA

EUR/JPY fails to keep the upside break of short-term key moving average. Lows marked around 125.30 add to the support. Bulls need confirmation...

EUR/JPY forecasts
OctaFX
10 Sep, 2020   USD/CHF slides further below 0.9100 mark

A combination of factors exerted pressure on USD/CHF for the second straight day. The USD remained depressed amid a pickup in the demand for the common...

USD/CHF forecasts
OctaFX
10 Sep, 2020   USD/CAD clings to modest gains above mid-1.3100s

USD/CAD gained some positive traction on Thursday and recovered a part of the overnight fall. A fresh leg down in oil prices undermined the loonie and remained...

USD/CAD forecasts
OctaFX
8 Sep, 2020   AUD/USD clings to modest gains, bulls await a sustained move

AUD/USD regained positive traction on Tuesday and build on last week's bounce from 0.7220 region. A strong pickup in the USD demand, rising US-China...

AUD/USD forecasts
OctaFX
4 Sep, 2020   GBP/USD stick to the downside bias

We highlighted yesterday that GBP could dip towards the 1.3260 support first before a stronger recovery can be expected. We added, a sustained decline below...

GBP/USD forecasts