OctaFx Review

OctaFx is a multi-asset CFD broker founded in 2011. With over 10 years in the market, OctaFx has over 40 million trading accounts opened. Octa got over 60 awards for their service, and over 5k excellent reviews on Trustpilot. Let’s see what OctaFx offers.

OtaFx Pros and Cons

Is OctaFx Secure?

Octa is regulated by several authorities including FSCA, MISA, and CySEC. Even though one entity is unregulated, all entities offer negative balance protection and segregate clients funds.

Markets and Products

OctaFx offers over 300 trading instruments. This is a decent number, but we’ve seen brokers with way more. The lowest spreads go from 0.6pips. They’re offering:

• Currency pairs – Maximum leverage 1:1000
• Stocks – Maximum leverage 1:40
• Indices – Maximum leverage 1:400
• Commodities – Maximum leverage 1:400
• Cryptocurrencies – Maximum leverage 1:200
• Shares – No leverage

OctaFx Fees and Charges

OctaFx doesn’t charge any fees or commissions. They profit from spreads, which are one of the lowest in the market.

OctaFx Account Types & Account Opening

OctaFx offers several types of accounts:

• MT5 Account
• OctaTrader Account
• Demo Account
• Islamic Account

How to Open an Account

Opening an account at OctaFx is quite easy:

• Click the “Sign up” button on the website
• Enter Email and Password
• Or sign up via Facebook, Google, Cloud
• Visit the website
• Click the “Open Account” button on the homepage
• Choose your account
• Choose the payment method you want
• Make a deposit
• You’re done!

Trading Platforms

OctaFx offers two trading platforms MT5 and OctaTrader. MT5 is a multi-asset trading platform widely used by brokers. OctaTrader is a platform designed by OctaFx with many cool features.

Mobile Trading Platform

Mobile Trading Octa’s mobile app lets you trade from your phone. You can manage accounts and get market updates anywhere. It’s available on both Android and iPhone devices.

Web Trading Platform

Web Trading OCTA’s website trading works on any browser. You don’t need to download anything to trade.

Desktop Trading Platform

Desktop Trading OCTA uses MT5 for desktop trading. It has charts, analysis tools, and settings for advanced traders.

OctaFx Research Tools

There are several research tools you can use at OctaFx:

• Market Analysis – Regular updates on assets
• Economic Calendar – A calendar with a list of upcoming events and announcements
• Trading Signals – Daily and weekly trading signals for potential opportunities
• Charting Tools – Includes indicators, trend lines and other tools for technical analysis
• Copy Trading Insights – You can view and analyze the performance of successful traders

OctaFx Educational Content

OCTA’s website has education for traders at all levels. It offers daily webinars, trading sessions, workshops and strategy lessons.

OCTA provides guides about trading tools and methods. It includes an 11-part forex course for new traders and videos about using MetaTrader, managing accounts, and copy trading.

Customer Service Overview

Weirdly, OctaFx doesn’t have a phone you can contact them on. But you an still:

• Send an email: support@octacs.one
• Or star a live chat

The customer service is always available and they reply very fast.

OctaFx Deposit and Withdrawals

Deposit Methods

Payment Method	Minimum Deposit	Commission	Execution Time
Neteller	$50	Free	Instant
Skrill	$50	Free	Instant
Litecoin	0.30000000 LTC	Free	3-30 minutes
Dogecoin	230.00000000 DOGE	Free	3-30 minutes
Tether (ERC20)	50.00000000 USDTE	Free	3-30 minutes
Tether (TRC20)	50.00000000 USDTT	Free	3-30 minutes
Ethereum	0.02000000 ETH	Free	3-30 minutes
Bitcoin	0.00037000 BTC	Free	3-30 minutes
Mastercard	$50	Free	Instant

How to make a deposit?

To make a deposit on you account simply:

• Log in to your account
• Press the “New deposit” button
• Choose the trading account you want to top up
• Choose the payment method you want and the amount
• Follow the payment methods instructions
• You’re done

Withdrawal Methods and Payout Times

Withdrawal Methods

Payment Method	Minimum Deposit	Commission	Execution Time
Neteller	$5	Free	1-3 hours
Skrill	$5	Free	1-3 hours
Litecoin	0.11000000 LTC	Free	1-3 hours
Dogecoin	75.00000000 DOGE	Free	1-3 hours
Tether (ERC20)	10.00000000 USDTE	Free	1-3 hours
Tether (TRC20)	10.00000000 USDTT	Free	1-3 hours
Ethereum	0.00500000 ETH	Free	1-3 hours
Bitcoin	0.00009000 BTC	Free	1-3 hours

To withdraw your funds you first need to verify your account, once it’s verified, then:

• Log in to your account
• Press the “Withdrawals” button
• Choose the payout method
• Provide the required information

OctaFx Online User Reviews and Ratings

OctaFx has over 8k reviews on Trustpilot. Most of them, 73% to be exact, are 5 star reviews. Users love the fast customer support and educational content. On the other hand, 8% of the reviews are 1 star of users who have issues with withdrawing their funds.

Author Opinion on OctaFx

OctaFx works for both beginners and experts. Their platform is simple to use, and their MT4 and MT5 options give advanced tools to experienced traders. They stand out for having no fees and low trading costs. 

New traders can use Copy Trading to follow what successful traders do. While OctaFx is licensed by CySEC, they don’t operate in places with strict rules like the US or UK. OctaFx is a good choice if you want low costs and useful features, but if you care about strong regulations, you might want to look elsewhere.

FAQ