broker

OCTAFX Review 2022

Updated:
4.1
Trust
2.8
Fees
4.2
Platforms and Tools
4.6
Customer Support
4.5
Tradable Instruments
3.5
Account Types and Terms
4.6
Deposit and Withdrawal
5.0
Research
5.0
Education
4.6
While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please note: In our review of OctaFX, we focused on the services provided by Octa Markets Inc. (OctaFX.com), registered with the St. Vincent and the Grenadines Financial Services Authority (FSA). We conducted our tests using the MetaTrader 4 platform. Some features and services may vary depending on where you reside.

The Big Picture

Founded in 2011, OctaFX is a multi-asset CFD broker headquartered in St. Vincent and the Grenadines. According to the company website, over 10 million trading accounts have been opened with OctaFX across more than 150 countries.

Clients can trade CFDs on forex, commodities, indices, and cryptocurrencies via MetaTrader 4, MetaTrader 5, and the OctaFX Trading app. Two main account types, Habitual Trader and Smart Trader, cater to different trader profiles. OctaFX has two corporate entities. Octa Markets Inc. is registered offshore with the St. Vincent and the Grenadines Financial Services Authority (FSA). Octa Markets Cyprus Ltd. is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC). According to their website, client funds are segregated from company funds, and that clients accounts have a negative balance protection.

Key Takeaways in 2022

  • We evaluated OctaFX across nine categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, Platform/Tools).
  • OctaFX excelled in research with high-quality, frequently updated analysis, and a selection of valuable tools.
  • We found room for improvement in the range of tradable instruments. OctaFX offers 80 tradable instruments across CFDs on forex, commodities, indices, and cryptocurrencies but lacks CFDs on shares. In addition, the trust score was brought down substantially due to the fact that Octa Markets Inc. is registered offshore.
  • Beginners can benefit from demo accounts, trading in micro-lots, and regularly scheduled educational webinars.
  • Advanced traders can take advantage of high leverage levels and advanced analysis using the AutoChartist MetaTrader plugin.

What Sets OctaFX Apart from Other Brokers?

OctaFX has competitive spreads in some instruments such as EUR/USD and impressive research written by in-house analysts. Account Monitoring is a unique tool that allows clients to track the performance, charts, profits, orders, and history of successful traders. Third-party tools such as AutoChartist are also available. OctaFX is a crypto-friendly broker. Traders can choose from a wide range of CFDs on cryptocurrencies, and can also make deposits and withdrawals in crypto.

What types of traders are a good fit for OctaFX?

With demo accounts, the ability to trade in micro-lots, and copy trading capability, we rate OctaFX as a suitable broker for beginners. Experienced traders can trade algorithmically in MetaTrader and have the option to become a Master Trader, providing the opportunity to earn money from other clients copying their trades.

OctaFX Pros and Cons

Pros Cons
  • Tight forex spreads.
  • Good research materials.
  • No inactivity fees.
  • No swap fees.
  • Free deposits and withdrawals.
  • Broad range of CFDs on cryptocurrencies.
  • The offshore entity is unregulated.
  • No phone support.
  • Doesn’t offer CFDs on shares.

 

broker

Forex margin trading involves substantial risks

 

About the Author

Dan Blystone
Dan Blystone began his career in the trading industry in 1998. He worked as an arb clerk on the floor of the Chicago Mercantile Exchange (CME), flashing orders into the currency futures pits.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
OCTAFX Main Features
☑️
Regulations
CySEC (Cyprus), SVGFSA (Saint Vincent and the Grenadines)
🗺
Supported Languages
English, Spanish, German, Portuguese, Hindi, Chinese, Malaysian, Indonesian, Urdu, Thai, Vietnamese
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
💵
Min Deposit
$50
💹
Max Leverage
1:30 (CySEC), 1:500 (SVGFSA)
🖥
Trading Desk Type
ECN, STP
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Forex margin trading involves substantial risks

OCTAFX Full Review

Trust

2.8
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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The European entity of OctaFX (Octa Markets Cyprus Ltd) is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC). The offshore entity of OctaFX (Octa Markets Inc.) is registered in St. Vincent and the Grenadines. According to the website, clients have negative balance protection, and client funds are segregated from the company’s operating funds. The trust score came in low, largely due to the fact that the Octa Markets Inc. entity is unregulated.

St. Vincent & the Grenadines Financial Services Authority

This section will cover how the different entities of OctaFX are registered/regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

Why is it important to know where your broker subsidiary (entity) is regulated?

Different regulators provide different levels of protection. For example, clients with a broker regulated by CySEC can benefit from a compensation fund in the event of broker insolvency. Offshore brokers usually offer higher leverage levels, but few account protections are typically guaranteed.

The table below breaks down the protections and benefits by entity, regulator, and region.

Entity Octa Markets Inc. Octa Markets Cyprus Ltd
Country/Region Global European Union
Regulation/Registration St. Vincent and the Grenadines FSA Cyprus Securities and Exchange Commission
Segregated Funds Yes Yes
Negative Balance Protection Yes Yes
Compensation Scheme No Yes (ICF Up to €20,000)
Maximum Leverage 1:500 1:30

Regulatory requirements are subject to change. We gathered the data listed above in July 2022.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of readily available information.

Launched in 2011, OctaFX has a substantial operating history of over a decade. According to the company’s LinkedIn page, the Saint Vincent and Grenadines-based broker has over 51-200 employees, reflecting a medium-sized brokerage firm.

The EU entity of OctaFX clearly states its regulatory status in the website’s footer. The offshore entity also references its registration number with the St. Vincent & the Grenadines authorities at the bottom of each page.

Trading costs such as spreads are clearly explained on the Spreads and Conditions page. Traders can find the Client Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. Overall, we rate OctaFX as having a fair level of transparency.

Fees

4.2
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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OctaFX performs well in the category of fees, with tight spreads in CFDs on forex and commodities, no swap fees, no inactivity fees, and no deposit or withdrawal fees. We rated fees as better than average for the CFD industry.

OctaFX Spreads

Trading Fees

We tested the spreads at OctaFX across different asset classes using a standard account and the MetaTrader 4 platform. The test was done at 8 AM GMT and 4 PM GMT on June 30th, 2022. We made our tests at two different times to allow greater perspective. 8 AM GMT is the London open when there is high liquidity in the forex market and tighter spreads in currency pairs. 3 PM GMT is during the New York trading session.

Instrument Spread AM Spread PM
EUR/USD 1.1 Pips 0.8 Pips
GBP/JPY 3.9 Pips 1.7 Pips
Gold 20 Pips 16 Pips
Light Crude Oil 9 Pips 8 Pips
Dow 30 6.3 Pips 5.3 Pips
Dax 40 2.5 Pips 2 Pips

Swap Fees

OctaFX does not currently charge swap fees (the charge for holding leveraged positions overnight).

Non-Trading Fees

OctaFX does not charge an inactivity or account maintenance fee.

Are Fees at OctaFX Competitive?

We experienced competitive spreads in forex and some commodities such as gold. Spreads were closer to average in CFDs on indices. OctaFX helps keep costs low with no swap fees and no inactivity fees. Overall we rate the fees at OctaFX as competitive.

Platforms and Tools

4.6
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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OctaFX offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile. The proprietary OctaFX Trading App is also available, which allows clients to make fast deposits and withdrawals, trade, and read real-time market analysis while on the go.

MetaTrader 4 for Desktop

MetaTrader 4 Desktop

OctaFX offers MetaTrader 4 and MetaTrader 5 for desktop, which includes advanced functions such as copy trading and automated trading.

MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

  • Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. Alerts can be delivered via audio, email, or push notification to a mobile device.
  • Watchlists. Traders can set up a list of their favorite instruments and follow live quotes in a market watch panel.
  • One-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Placing a trade with a single click saves time and is especially useful for short-term traders.
  • Trading from the chart. MT4 also allows users the convenience of trading directly from the chart.

MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

  • Market Order. This is an order to buy or sell an instrument at the current best available price.
  • Limit Order. This is an order to buy or sell an instrument at a specified price or better.
  • Stop Loss Order. This is an order to buy or sell an instrument that is triggered when the market price reaches a specified level.
  • Trailing Stop Order. This is a stop-loss order that can be set at a defined percentage or dollar amount away from an instrument’s current market price. It is used to secure profits when you are in a winning trade while not having to exit the position.

Charting features are robust. MetaTrader 4 offers:

  • 30 technical indicators. These include classic trend indicators, volume indicators, and oscillators.
  • 23 analytical objects. These include lines, channels, Gann, and Fibonacci tools.
  • 9 time frames Each instrument can be displayed in nine time frames, from one minute to one month.
  • 3 chart types. Traders can choose between Bar Charts, Japanese Candlestick Charts, and Line Charts.

MetaTrader is also popular due to its copy trading and automated trading features.

  • Trading Signals. Signals in MetaTrader 4 allow users to copy the activity of other traders in real-time automatically.
  • Automated trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade.

The MetaTrader 4 desktop platform is one of the world’s most feature-rich and popular trading platforms. It does not have the most beautiful interface and requires some time and effort to learn, but that is typical of advanced platforms.

MetaTrader 4 Web

MetaTrader 4 Webtrader

The MetaTrader Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform. It allows you to trade without additional software; only an internet connection is required. The Web Platform enables users to trade directly from any browser and operating system.

Popular features include:

  • One-click trading.
  • Trading from the chart.
  • Watchlists with real-time quotes.
  • Trade History.
  • Advanced charting with 30 indicators for technical analysis.

Copy-trading and automated trading are also only available on the MT4 desktop platform.

MetaTrader 4 Mobile App and OctaFX Trader App

MetaTrader 4 Mobile App

For mobile trading, OctaFX offers the MetaTrader 4/5 mobile apps and the OctaFX Trading app via Android and iOS. The OctaFX Trading app has a modern, user-friendly interface and offers 1-click trading. The app allows users to manage their OctaFX personal profile, make fast deposits, and access real and demo accounts.

The MetaTrader 4 app offers popular features such as alerts, 1-click trading, and trading from the chart. A broad range of order types, including pending and stop-orders, are available via the MT4 app. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT4 app, you must change the language for your entire phone. As with desktop and web, the interface is not the most intuitive, but the MT4 app offers an above-average range of features.

Order Execution

OctaFX is an ECN (electronic communications network) broker. ECN brokers give clients direct access to other participants and use prices from different liquidity providers.

Tradable Instruments

3.5
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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OctaFX offers a variety of trading instruments, including CFDs on forex, commodities, indices, and cryptocurrencies. While CFDs on shares are not available, OctaFX has a strong variety of CFDs on cryptocurrencies, numbering 30 in total.

OctaFX Tradable Instruments

CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at OctaFX include the following assets:

  • 38 CFDs on currency pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
  • 10 index CFDs. An index is a basket of trading instruments used to gauge a market sector, stocks within an exchange, or a country’s economy.
  • 5 CFDs on commodities. Commodities are raw products, such as gold, oil, and metals.
  • 30 CFDs on cryptocurrencies. Cryptocurrencies, such as Bitcoin, are digital currencies secured by cryptography.

In the tables below, you can see a selection highlighting the variety of instruments available at OctaFX:

CFDs on Forex Majors CFDs Forex Minors
EUR/USD | GBP/USD | USD/JPY GBP/JPY | AUD/NZD | EUR/GBP
CFDs on Energy CFDs on Metals
WTI Crude Oil | Natural Gas | Brent Crude Oil Silver |  Gold
CFDs on Indices CFDs on Cryptocurrencies
AUS200 | GER40 | NAS100 Polkadot |  Dogecoin |  Ethereum

Customer Support

4.5
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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OctaFX performs well in this category. It provides 24/7 customer support via live chat and email. Phone support is not currently available. In our tests, we received rapid responses, and the agents were helpful and attentive. Despite the lack of phone support, we had a good experience overall.

OctaFX Chat Support

We tested customer support with various questions, ranging from swaps to how orders are executed. Responses were swift, with emails typically answered within one business day and live chat responding in less than one minute. The quality of responses was generally good, with agents delivering satisfactory answers.

Deposits & Withdrawals

5.0
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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OctaFX clients can make deposits and withdrawals via bank wire, credit card, digital wallet, and cryptocurrency. Available methods vary depending on where you reside. No fees are charged for deposits or withdrawals. Processing times are fast, within 30 minutes for deposits and 4 hours for withdrawals, which is better than average for the industry.

Deposits and Withdrawals

In the tables below, we break down the fees and processing times for each deposit and withdrawal method.

Deposits

Deposit Method Minimum Deposit Fees Processing Time
Virtual Account 400000.00 IDR 0% 3-30 minutes
FasaPay 400000.00 IDR 0% Instant
Bitcoin 0.00037 BTC 0% 3-30 minutes
Skrill 50 USD 0% Instant
Neteller 50 EUR 0% Instant
UPI 20 USD 0% 1-5 minutes
India Netbanking 20 USD 0% 1-5 minutes
Ethereum 0.02 ETH 0% 3-30 minutes
Mastercard 50 EUR 0% Instant
Visa 25.00 USD 0% 1-5 minutes
Tether TRC-20 50 USDTT 0% 3-30 minutes
Tether ERC-20 50 USDTE 0% 3-30 minutes
Dogecoin 230 DOGE 0% 3-30 minutes
Litecoin 0.3 LTC 0% 3-30 minutes
GrisPay 400000.00 IDR 0% Instant

Withdrawals

Withdrawal Method Minimum Withdrawal Fees Processing Time
Indonesia Local Banks 70000.00 IDR 0% 1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds.
FasaPay 70000.00 IDR 0% 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds.
Visa 20.00 USD 0% 1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds.
Bitcoin 0.00009 BTC 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Skrill 5 USD 0% 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds.
Neteller 5 USD 0% 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds.
Ethereum 0.005 ETH 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Tether TRC-20 20 USDTT 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Tether ERC-20 20 USDTE 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Dogecoin 75 DOGE 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Litecoin 0.11 LTC 0% 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.
Internet banking 400000.00 IDR 0% 1-5 minutes

Note: available deposit and withdrawal methods vary based on where you reside. For example, Visa and FasaPay are available for deposit/withdrawals in Indonesia but not India.

Account Types and Terms

4.6
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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The account opening process at OctaFX is fully digital and can be completed via the company website within minutes. OctaFX offers two main account types; Habitual Trader and Smart Trader. In addition, demo accounts and swap-free accounts are available to clients. The range of account types helps to accommodate a variety of different trader profiles.

OctaFX Account Application

Account Application

To open an individual account at the Octa Markets Inc, prospective clients must answer the following questions.

  • Country.
  • City.
  • Street Address.
  • Phone Number.
  • Birthday.
  • Whether you have traded forex before.
  • Platform (OctaFX MT4 or MT5).
  • Account type (real or demo).
  • Currency (USD or EUR).
  • Leverage (1:1 to 1:500).
  • Fixed rate. (On or off. Fixed rate is a feature that allows you to transfer your local currency into your trading USD-account and from it under a fixed rate without conversion expenses.)
Feature Smart Trader Habitual Trader
Platform OctaFX MT4 OctaFX MT5
Spread Floating, starting at 0.6 pips Floating, starting at 0.6 pips
Commission, Spread Markup No сommission, Markup No сommission, Markup
Recommended Deposit 100 USD 100 USD
Instruments 35 currency pairs + gold and silver + 3 energies + 10 indices + 30 cryptocurrencies 35 currency pairs + gold and silver + 3 energies + 4 indices + 30 cryptocurrencies
Leverage 1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies 1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies
Minimum Volume 0.01 lot (1 Micro Lot) 0.01 lot (1 Micro Lot)
Maximum Volume 500 lots 200 lots
Deposit Currencies USD or EUR USD or EUR

Demo Accounts

OctaFX offers demo accounts for MetaTrader 4 and MetaTrader 5. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch over to a live account.

Islamic Accounts

OctaFX offers a swap-free Islamic account that adheres to the principles of Sharia law.

Leverage

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

Octa Markets Inc. offers clients leverage of up to 1:500. This means that with an account of $1,000, you can control up to $500,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

Research

5.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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OctaFX excels in research, offering regularly updated commentary written by in-house analysts, webinars, and trading ideas. In addition, clients can utilize various tools such as account monitoring, an economic calendar, and research from third-party provider AutoChartist. We rate OctaFX as better than the industry average in research.

OctaFX Research

Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch.

An account monitoring tool allows users to select a live account and view its performance, charts, profits, orders, and history, with the idea that you can learn from successful traders. Clients can also add their own accounts to monitoring so that others can follow their trading.

The OctaFX website features a robust economic calendar, including the time, date, country, actual figure, forecast figure, previous figure, and anticipated market impact of a given economic release.

The AutoChartist plugin for MetaTrader is available to clients with $1,000 or more in their accounts. The service provides automated trading signals and a volatility analysis tool for optimizing the placement of stop-loss orders. AutoChartist can also identify emerging and completed chart patterns.

Education

4.6
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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OctaFX provides a solid range of educational materials, including articles, videos, webinars, and a video course. Content is updated frequently and is accessible to all levels of traders. A broad range of topics from technical analysis to trading strategies and platform tutorials are covered. We rate the industry’s educational offerings at OctaFX as better than average.

OctaFX Education Section

The education section on the OctaFX website is well thought out, clearly presented, and made for beginners, intermediate and experienced traders. Webinars play an important role and take place daily. Material includes live trading sessions, workshops, and trading strategy-themed presentations.

In article format, OctaFX provides dozens of detailed guides on subjects ranging from how to use moving averages to setting up the Autochartist Metatrader plugin. An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. OctaFX also provides platform tutorials videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade.

The Bottom Line

OctaFX has over a decade of experience and has built a substantial global presence. They performed well in multiple categories, including fees, deposit/withdrawals, research, and education.

Traders can benefit from low trading costs, with tight spreads in fx, no inactivity fees, no swap fees, and no deposit/withdrawal fees. OctaFX provides tailored account types for beginners and experienced traders and has above-average original research and educational offerings.

The offshore entity of OctaFX is registered in St. Vincent and the Grenadines but is unregulated, and the EU entity is regulated by the Cyprus Securities and Exchange Commission (CySEC). At both entities client funds are segregated, and OctaFX provides negative balance protection. Overall, we rate OctaFX as an innovative broker with a client-centric focus.

FAQ

Where is OctaFX based?
The headquarters of OctaFX is situated in Saint Vincent and the Grenadines.

Is OctaFX safe?
OctaFX provides negative balance protection and keeps client funds segregated from company funds. The offshore entity of OctaFX is registered in Saint Vincent and the Grenadines. Top-tier CySEC regulates the EU entity.

How does OctaFX make money?
OctaFX makes money from the bid/offer spread.

How do I deposit funds in an OctaFX account?
Traders can deposit funds via Virtual Account, FasaPay, Visa, Bitcoin, Skrill, Neteller, Litecoin, Dogecoin, Tether ERC-20, Tether TRC-20, Mastercard, Ethereum, Internet Banking, and GrisPay.

What is the minimum deposit for OctaFX?
The recommended minimum deposit for both Habitual Trader and Smart trader accounts is $100.

How do I withdraw money from OctaFX?
Funds can be withdrawn via FasaPay, Visa, Bitcoin, Skrill, Neteller, Litecoin, Dogecoin, Tether ERC-20, Tether TRC-20 and Ethereum.

How long does it take to withdraw money from an account at OctaFX?
It takes 1-3 hours for withdrawals to be approved and up to 30 minutes for funds to be transferred.

How much is the maximum leverage at OctaFX?
The maximum leverage is 1:500 at the Octa Markets Inc. entity.

How can I open an account with OctaFX?
You can open an account by visiting the OctaFX website.

What platforms does OctaFX offer?
MetaTrader 4, MetaTrader 5 and the OctaFX Trading App.

What are the withdrawal fees at OctaFX?
There are no fees for withdrawals.

Is OctaFX good for beginners?
OctaFX has strong educational materials and free demo accounts, making it a suitable broker for new traders.

Does OctaFX offer a demo account
Yes, OctaFX offers demo accounts via MetaTrader 4, MetaTrader 5 and the OctaFX Trading app.

broker

Forex margin trading involves substantial risks

See OCTAFX Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Saint Vincent and the Grenadines
Foundation Year
2011
Regulations
CySEC (Cyprus), SVGFSA (Saint Vincent and the Grenadines)
Publicly Traded
No
Number Of Employees
200+
Trading Desk Type
ECN, STP
Trading platforms
MT4, MT5
Restricted Countries
United States, Russian Federation, Cuba, Cyprus, Kazakhstan, North Korea, Niger, Iran, Iraq, Guam, Northern Mariana Islands, Puerto Rico, Syria, Ukraine, Virgin Islands, British, Libya, Myanmar, Samoa, Sudan, Belarus
Supported Languages
English, Spanish, German, Portuguese, Hindi, Chinese, Malaysian, Indonesian, Urdu, Thai, Vietnamese
Min Deposit
$50
Max Leverage
1:30 (CySEC), 1:500 (SVGFSA)
Deposit Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller, FasaPay, Ngan Luong
Withdrawal Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller, FasaPay, China UnionPay
Time to Open an Account
5
Cryptocurrencies
Bitcoin Cash, Bitcoin, Litecoin, Ripple, Ethereum
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
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