OctaFX Review 2023

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OctaFX offers commission-free multi-asset trading on MT4 & MT5 platforms with tight floating spreads. Users can also benefit from a proprietary copy trading service.

Pros

  • Full range of investments
  • Low minimum deposit
  • Highly rated
  • MetaTrader 4 and 5
  • Copy trading
  • Commission-free trading
  • Mobile app compatibility
  • Negative balance protection (Within EU)
  • No deposit & withdrawal fees
  • Comprehensive educational content
  • Bonuses and contests available (non-EU)
  • High Leverage 1:500 (non-EU)
  • Demo account with access to unlimited virtual funds
  • Offers Islamic accounts

Cons

  • Few payment methods
  • No global stocks trading
  • Zero pip spreads unavailable
  • The global entity is regulated offshore
  • Small selection of tradeable instrument
Awards
  • Most Secure Broker Indonesia 2022- International Business Magazine
  • Best Global Broker Asia 2022- International Business Magazine
  • Best Forex Broker Pakistan 2022- Global Brands
  • Best Forex Broker India 2022- World Finance
  • Best Mobile Trading Platform 2022- FXDailyInfo
  • Best In Class For Social Copy Trading 2022- Forexbrokers.com
  • Best Trading Conditions Asia 2021- World Business Outlook
BonusUp to 50% deposit bonus
InstrumentsForex, CFDs, indices, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 lots
Regulated BySVGFSA, CySEC
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistYes
eSignalNo
STP AccountNo
ECN AccountYes
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsYes (iOS & Android)
Margin TradingYes
Volatility IndexNo
Spot TradingYes
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingYes
TournamentsNo
Demo CompetitionsYes
Managed AccountsNo
Market MakerNo
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes (EAs)
Islamic AccountYes
Account Currencies
  • USD
  • EUR
Inactivity Fee0
Guaranteed Stop LossNo
Stock Exchanges
  • Dow Jones
  • FTSE UK Index
  • Nasdaq
Commodities
  • Gasoline
  • Gold
  • Natural Gas
  • Oil
  • Silver
CFD TradingTrade CFDs on the financial markets with floating spreads and flexible leverage.
CFD FTSE Spread1.8
CFD GBPUSD Spread1.1
CFD Oil Spread0.7
CFD Stocks SpreadVariable
CFD Leverage1:500 (Global), 1:30 (EU)
Forex TradingOctaFX offers leveraged trading on currencies with floating spreads from 0.6 pips.
Forex GBPUSD Spread1.1
Forex EURUSD Spread0.7
Forex EURGBP Spread2.1
Forex Assets35
Crypto TradingTrade 30+ popular digital currencies paired with the USD.
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • AAVE
  • ADA
  • ALGO
  • ATOM
  • AVAX
  • BTB
  • BTC
  • DASH
  • DOGE
  • DOT
  • ETH
  • IOTA
  • LINK
  • LTC
  • MANA
  • MATIC
  • NEAR
  • SOL
  • ZEC
Risk Warning – Your capital is at risk

OctaFX is a forex, CFD and copy trading broker offering the MT4 and MT5 platforms. In this 2023 broker review, our experts log in to the personal area and uncover the key features, including leverage, demo accounts, regulation and more. Read on to find out whether OctaFX is a good forex broker. Please note that the answer to this  question might depend on where you live.

Quick Facts

Key takeaways

  • OctaFX offers a promising service for beginners and experienced traders.
  • The broker offers fee-free deposits and withdrawals, plus Islamic accounts
  • They offer a free unlimited demo account.
  • Trading through MetaTrader4 and Metatrader 5.
  • Deposit money using VISA, Mastercard, Skrill, Neteller, FasaPay, wire transfer, Cryptocurrency
  • Commissions free trading
  • Offer high leverage. 1:50 EU, 1:500 rest of the world.
  • Mobile app for Android and iOS.
  • Regulated by the Financial Services Authority in St Vincent and the Grenadines (SVGFSA) and the Cyprus Securities and Exchange Commission (CySEC)
  • OctaFX offers a deposit bonus on all deposit. (Non EU only)

Overview

Overall score

International

 
The overall score might seem lower than what each category’s score indicates. This is due to the fact that OctaFC forex trading is unregulated outside of Europe. We consider it to be very important that a broker is regulated by a regulator who offers strong trader protection. The overall score is therefore adjusted down due to the broker being unregulated. We do not recommend that you use this broker if you live outside the EU. Choose another regulated broker instead.

EU

 
This broker can be a good choice for you if you live within the EU and are satisfied with its limited selection of tradeable assets. It can also be a good choice if you are looking for a company that makes forex copy trading as easy as possible. If you prefer a broker that gives you access to a large selection of tradeable assets, then you are better off choosing another EU-regulated broker.

Score in each category

Can you trust OCTAFX?

Traders who live within the EU will have their accounts placed under Octa Markets Cyprus Ltd. Octa Markets Cyprus Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) and traders within EU can therefore trust OctaFX.

Traders living outside of EU will have their accounts placed under Octa Markets Incorporated. Octa Markets Incorporated does not have a license to offer forex trading and all trading is therefore unregulated. Traders outside EU can not trust OctaFX and should choose another forex broker instead.

Pros and Cons

Below you can see the most important benefits and drawbacks of trading with this broker.

Pros

Traders enjoy several benefits when trading with OctaFX vs the likes of FBS, IQ Option and Exness:

  • Copy trading
  • Commission-free trading
  • Mobile app compatibility
  • Negative balance protection (Within EU)
  • No deposit & withdrawal fees
  • MetaTrader 4 and 5 platforms
  • Comprehensive educational content
  • Bonuses and contests available (non-EU)
  • High Leverage 1:500 (non-EU)
  • Demo account with access to unlimited virtual funds
  • Offers Islamic accounts

Cons

Compared to other brokers such as HotForex, XTB and OlympTrade, OctaFX does fall short in some areas:

  • No global stocks trading
  • Zero pip spreads unavailable
  • The global entity is regulated offshore
  • Few payment methods
  • Small selection of tradeable instruments

How To Place A Trade

Once you have opened and verified your account profile, you can begin trading.

When we used OctaFX’s trading terminals, the new order process was similar and relatively straightforward. First, search for an asset using the navigation bar. You can utilize either market watch or one-click execution.

To open a position, complete the order form by selecting ‘buy’ or ‘sell’ and amend the volume in lots. You can also add stop-loss or take-profit risk management alerts too.

Full editorial review

Tradeable Assets & Markets

Score:  
OctaFX offers trade in 80+ instruments:

Trading Platforms

Score:  
OctaFX offers two trading platforms; MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The award-winning terminals are available to download to Windows and Mac devices or can be used as web-based profiles. Useful download links and user guides are available on the broker’s website.

Both platforms are suitable for beginners, though our experts note that MT5 offers more advanced trading features.

MetaTrader 4

OctaFX broker review
MetaTrader 4

The MT4 platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility.The terminal allows users to develop expert advisors (EAs) and technical indicators to suit individual trading styles. In addition to the 30 in-built technical indicators, advanced charting tools allow you to analyze price fluctuations and trends in the market, using three customizable chart and graph types. Additionally, MT4 offers nine timeframes, four pending order types and one-click trading.

MetaTrader 5

OctaFX MetaTrader 5 review
MetaTrader 5

MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy and more advanced features.Users can enjoy eight pending order types, 44 analytical objects including Gann and Fibonacci Retracement, plus additional technical indicators which are unique to MT5, such as Trend Oscillators and Bill Williams’ tools. There is also an integrated economic calendar as well as two major accounting modes for greater flexibility; hedging and netting.

Both platforms are compatible with several languages, including English, Arabic and Hindi.

Spreads & Fees

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Trading fees vary depending on the account type and instrument, though when we used OctaFX, it was good to see no commissions. Instead, costs are integrated into the bid-ask spreads. These are floating rather than a fixed rate spread, therefore they may fluctuate during periods of high liquidity.

The average spread for the EUR/USD currency pair is 0.7 pips, while the USD/CAD is offered at 0.8 pips. Major indices, including the NASQAQ, are offered at an average 0.6 points, which is competitive. Spot gold and silver were offered at an average of 1.8 pips.

In June 2022, OctaFX also removed swap fees. This is a significant advantage for investors using mid-term and long-term strategies as charges will not be applied for any positions held overnight.

There is also no inactivity fee for dormant accounts or commission charges for deposits, withdrawals or currency exchange.

OctaFX Leverage

Score:   (Non-EU)
Score:   (EU)
When using the OctaFX platform, our experts were offered generous leverage limits up to 1:500. This means a $50 deposit would provide $50,000 in purchasing power. Although trading with significant leverage can increase profit prospects, it can also increase losses. Ensure you apply appropriate risk management strategies. The margin call/stop-out level is 25/15%.

Note that EU clients will be subject to ESMA leverage capping introduced in 2018. Investors can access maximum leverage of 1:30.

Mobile Apps

Score:  
Both MetaTrader platforms are available as mobile apps, with a free download to iOS and Android (APK) devices. When using the MT4 and MT5 interfaces on mobile, you can be assured of platform stability, with fast execution speeds.

You can access all the tools, features and functionality found on the web terminals including one-click trading, chart customization and full order management.

Additionally, the broker also offers a proprietary mobile app. When we used the OctaFX app, it was easy to integrate an existing MetaTrader profile into the branded app. You can set SMS price alerts and app notifications of market movers. The application also permits full account management including live deposits and withdrawals and copy trading services.

octafx android app

Payment Methods

Score:  

Deposits

OctaFX does not have a deposit fee for any payment methods. Additionally, the broker covers any third-party charges that may be incurred from some services. Retail clients can deposit in all currencies, though account denominations are available in EUR and USD only. Live market currency conversion fees apply. Available deposit methods:

Note, some local payment methods may also be offered depending on your country of residency. This includes international bank wire transfers for citizens of Thailand, India and Nigeria, for example.

All bank transfers are processed within 1-3 hours of a request. Other payment methods offer instant funding.

There is no maximum deposit limit.

ways to deposit money

Withdrawals

Our experts were pleased to see no withdrawal fees at OctaFX. There are, however, minimum withdrawal limits for all payment methods, though these are minimal, including $5 for Skrill and Neteller.

All withdrawal requests are processed within 1-3 hours during business hours, though the time taken for funds to clear back to the original payment method may vary.

Demo Account

Score:  
A free demo account is available to OctaFX day traders on both MT4 and MT5. Clients can register and switch to a demo profile via the client portal.

When we used the OctaFX demo account, it was good to see emulated live market conditions and real-time prices. Paper trading accounts are a great way to practice investment strategies risk-free and learn platform terminal features and tools. Users can access unlimited virtual equity with flexible leverage.

Our experts were also offered the chance to win real funds by participating in the OctaFX Champion demo contest. Upcoming competitions, duration and rules can be found on the broker’s website.

Note, demo accounts are deactivated after 30 days of inactivity.

OctaFX Deals & Promotions

Score:  
OctaFX (non-EU) offers several deposit bonus deals, including a 10, 30 or 50% bonus on each deposit. In addition, there are occasional Trade & Win promotions where traders can win gifts such as OctaFX t-shirts or gadgets. There are also contest opportunities, including the OctaFX 16 Cars contest where traders are entered into a car prize draw every three months, as well as the Champion Demo Contest for MT4 users.

Make sure to check all bonus terms and conditions before participating. When we used OctaFX’s deposit bonus scheme, we were only permitted to withdraw a reward after completing the minimum volume requirement. This is calculated as; bonus amount/2 standard lots. So, if you claim the 50% bonus on a $100 deposit, the minimum volume requirement will be 25 standard lots.

Regulation & Licensing

Score:  (Non-EU)
Score:   (EU)
license octafx

Octa Markets Incorporated is registered in St Vincent and the Grenadines. The online broker is licensed and regulated by the Financial Services Authority (SVGFSA). Our experts confirmed incorporation on 15th September 2011 and found an active regulatory registration under the trading name. It is important to note that SVGFSA does not regulated Forex trading nor binary options trading.[1] This means that all Forex trading done through OctaFX.com is unregulated.

Octa Markets Cyprus Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 372/18.[2] Octafx.eu, octamarkets.eu and their subdomains are regulated to offer forex trading.

OctaFX acts in full compliance with international legislation and regulation standards. With this, the broker guarantees segregated client funds and negative balance protection.

The broker accepts clients in 150+ countries, though it is worth checking which entity you will receive services from.

Additional Features

Traders benefit from a range of additional educational features and trading tools at OctaFX, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the Autochartist plugin and live quotes.

After using the educational resources offered by OctaFX, we are confident that there is plenty of information for both beginners and experienced investors.

OctaFX trading review
Economic Calendar

Copy Trading

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OctaFX also offers a copy trading service, available via an Android (APK) compatible mobile app or integrated into the MetaTrader platform. Users can benefit from stable earnings from a diversified portfolio by copying the most profitable traders.

The bespoke software enables users to track master traders and their live performance, control portfolios on the go, view how their funds are invested and manage risk in real-time.

How to use OctaFX mobile copy trading

  1. Download the OctaFX copy trading app: Download the app for Android from the Google Play Store.
  2. Launch the app on your mobile device: You will be prompted to sign up. Important: If you already have an account with OctaFX for manual trading, you can use that for copy trading as well. Simply enter your email and password, or sign in using Google or Facebook.
  3. Log in to the start screen; (When you have begun using OctaFX for copy trading, your present and past copy trading subscriptions will be displayed there.)
  4. Deposit money to your account:  to begin copy trading for real money, you must have enough money in your copy trading OctaFX account. If you already have money in your standard OctaFX account, you can quickly transfer it to your copy trading account within OctaFX. The other option is to make a deposit using any of the available deposit methods. You press the menu icon on the top left of the screen and tap “Deposit”. Select a deposit method and follow the on-screen instructions.
  5. Choose a trader to copy: It is up to you to decide which Master Traders to follow (copy). Go to the left-hand menu, then to “Copier Area” → “Go to Master Traders” Rating. You will now see a selection of available Master Traders and their respective ratings. They are sorted by risk score, but the filter feature allows you to sort them based on other factors, such as popularity or gain.

    To find out more about a Master Trader, simply tap on their name. You will now see information such as gain, profit and loss, order history, risk score, number of followers (copiers), and commission. Please note that the minimum permitted investment amount differs between the various Master Traders, so make sure you select Master Traders that are suitable for your bankroll and preferences.

  6. Start copy trading: When you are ready to begin investing, tap “Set up copying” at the top of the screen. Adjust the settings in accordance with your preferences, and then press Start Copying.

Account Types

Score:  
There are two account types available at OctaFX, which are determined by the trading platform you are using; Micro (MT4) and Pro (MT5). Accounts are available in USD or EUR denominations. The minimum trade volume across all accounts is 0.01 lots and both profiles benefit from market execution in under 0.1 seconds.

The minimum deposit is USD100, regardless of what type pf account you choose to open.

Below you can compare the brokers two accounts:

Micro

  • $100 recommended deposit
  • Maximum trade size of 200 lots
  • Floating spreads, no commissions
  • Access to most trading instruments

Pro

  • $100 recommended deposit
  • Maximum trade size of 500 lots
  • Floating spreads, no commissions
  • Access to all trading instruments

There is also an Islamic swap-free account for those worried about whether trading is haram or halal.

Trading Hours

Trading times in the MT4 and MT5 platforms are 24/5, from 00:00 on Monday to 23:59 on Friday server time (EET/EST time zone). Cryptocurrency can be traded 24 hours per day, 365 days a year.

It could also be worth viewing the published session timetable via the broker’s terminal interface. This is particularly useful to stay up to date with upcoming market closures such as public holidays.

Security & Safety

Score:  
OctaFX uses 128-bit SSL encryption and PIN codes in the personal area and trading platforms, which is the industry-standard security requirement for protecting personal data.

The broker also applies 3D secure Visa authorization when processing credit and debit card transactions. Also ensure you add additional security settings such as two-factor authentication (2FA) when using OctaFX platforms.

Customer Support

Score:  
customer service

When using the services of OctaFX, day traders can be assured of 24/7 customer support. Contact methods include:

Note, the OctaFX website is available in a number of languages for clients from Indonesia, Malaysia, Pakistan and India.

User Reviews

Total number of reviews: 13
Avarage score:  

Best User Reviews

Nadira (Copy trader)

OctaFX.com
 
Nadira customer review

I opened an account with OctaFX because i wanted to try their copy trading app after hearing a friend talking about it. I was pleasantly surprised to see how easy it was to start copy-trading other traders. My experience with copy trading has been mixed. Some traders have lost me money while others have gained me money. I need to get better at choosing which traders I choose to copy. It is a very easy way to start trading on the forex market without having to know anything about the market.

Erik (FX trader)

OctaFX.eu
 
Erik customer review

I tried OctaFX for a time but eventually decided to move to another broker. My experience with the company was overall good, but the selection of investment offers was somewhat limited. I prefer to trade with a broker with a wider range of investment offers. The trading platform provided was good, and trades were executed without delay. I would likely still be using OctaFX if they offered more financial instruments to trade.

Bianca (FX trader)

OctaFX.com
 
Bianca customer review

This is my first time trading forex, and I have no previous experience with forex brokers. So far, everything has worked well. It was easy to open an account, and I was able to deposit money into my account without paying any fees except those charged by Skrill. I enjoy the training material that the broker provides. The free, unlimited demo account has been very useful while learning to trade. I have not tried to withdraw money yet, so I do not know how well withdrawals are handled-

Elena (Crypto trader)

OctaFX.com
 
elena customer review

I tried trading with OctaFX but i quickly moved on since they offer a very limited selection of crypto based financial instruments to trade with. I ended up using a specialized crypt broker, Binance, instead since they offer a much larger selection of crypto based financial instruments. I did appreciate all the contests that OctaFX was offering as well as the generous deposit bonus. I would likely have kept trading with this broker if i was interested in regular Forex trading.

Latest User Reviews

 Navi
I tried trading with OctaFX but quickly moved to another broker after the Enforcement Directorate raided the company and i discovered that they were not licensed to offer forex trading.
 Agastya
They offer a smaller selection of assets to trade than most other brokers but they do provide access to the most popular currency pairs. It is easy to register and to deposit money. The minimum deposit is lower than some other brokers. Their spreads are acceptable, although it is possible to find brokers that offer lower spreads. I have not had any problems trading with OctaFX. The trades have been completed quickly, and I have not experienced any slippage. Their copy trading app is good and makes it very easy to engage in social trading. I think this could be a good broker if they offered a larger selection of assets to trade.I traded with OctaFX.eu. I would not recommend trading with OctaFX international due to them being unregulated. It is not worth using an unregulated broker when there are so many regulated brokers to choose from.
 Amar
They just want to drain your money. They do what they can to entice you deposit more money but their real goal is to take your money.
  Tenzin
I have tried other forex brokers before, but they all felt too overwhelming. I enjoy how easy OctaFC makes everything. They offer a limited amount of popular instruments to trade with and excellent training material that makes it easy to learn how to use the system. I am happy that I tried Oocta, it feels like the perfect broker for beginners. It is possible that I will move to a more advanced broker in the future, but for now, Octa provided me with everything I need without a lot of extras.
  Ananya
I appreciate how easy it was to open an account and start copy trading in my phone. I enjoy login in each day and see how my trades are going.

How To Sign Up

The account opening process is simple and fast. ID documentation must be submitted in line with KYC requirements. In most cases, if your documents are submitted correctly, verification should only take up to three hours.

Note clients from the United States or the UK are not accepted at OctaFX or Octa Markets Cyprus Ltd.

OctaFX company details

OctaFX was established in 2011. The company’s mission is to provide outstanding forex and CFD trading services, via cost-effective, transparent conditions on a worldwide scale. The broker offers 80+ trading instruments including currency pairs, commodities, indices and cryptocurrencies.

The broker operates under three subsidiaries:

corporate structure octafx

Octa Markets Incorporated

Octa Markets Incorporated is the international branch of the broker. The company was established in St. Vincent and the Grenadines and is regulated with licensing from the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA). OctaFX uses this company to operate in 185 countries. The Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) offer weak trader protection. Opening an account from one of the 185 countries where this license is used is considered high risk.

Octa Markets Cyprus Ltd

Octa Markets Cyprus Ltd is a Cyprus-based company regulated with licensing from the Cyprus Securities and Exchange Commission (CySEC). This is the company that OctaFX uses to offer forex trading within the European Union. Accounts belonging to traders who reside within the European Union will be placed within this company and will see their accounts regulated by CySEC. CySEC offers much better legal protection, and your legal protection is, therefore, a lot stronger if you open an account with Octa Markets Cyprus Ltd.

Octafx India Private Limited:

Octafx India Private Limited is an Indian company that Octa Markets incorporated and opened in 2019. The company is not licensed, and traders who open an account on Octafx India will see their accounts regulated under the license from the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA)

Market position

OctaFX has achieved a solid position in the financial trading markets, executing an impressive 1+ billion trades from over 10 million live customer accounts. The founder and owner have ensured the brand has amassed a global reach, with trading services now spanning 185+ countries. Most of the traders who use this broker are located in Indonesia, India or Malaysia.

Ownership

Octa Markets Cyprus Ltd and Octafx India Private Limited are owned by Octa markets incorporated. Octa markets incorporated is a privately owned company and the exact owner and ownership structure are unknown.

Resources

  1. Financial Services Authority, St Vincent & The Grenadines. (February 3, 2022). UNLICENSED FOREX/BINARY OPTIONS – Financial Services Authority. https://svgfsa.com/unlicensed-forex-binary-options/
  2. Cyprus Securities and Exchange Commission. (n.d.) Octa Markets Cyprus Ltd. Retrieved December 14, 2022, from https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/81668/

Accepted Countries

OctaFX accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use OctaFX from United States, United Kingdom.

Compare OctaFX

Compare OctaFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to OctaFX:

  1. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
  2. Kwakol Markets – Kwakol offers trading on the MT4 & MT5 platforms with high leverage & copy trading.
  3. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  4. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.

OctaFX Comparison Table

Compare OctaFX With Similar Brokers
OctaFX World Forex Kwakol Markets IG Group InstaForex
Rating 4.1 4 2.4 4.4 4.1
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $100 $1 $1 £250 $/€1
Minimum Trade 0.01 lots 0.01 Lots 0.01 Lots 0.1 lots 0.01 Lots
Regulators SVGFSA, CySEC SVGFSA ASIC, FINTRAC FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin BVI FSC
Bonus Up to 50% deposit bonus 100% Deposit Bonus 30% – 100% Welcome Bonus
Education Yes No No Yes No
Platforms MT4, MT5 MT4, MT5 MT4, MT5 MT4 MT4, MT5
Leverage 1:500 (Global), 1:30 (EU) 1:1000 1:500 1:30 1:1000
Payment Methods 8 10 4 6 9
Detailed Comparison OctaFX vs World Forex OctaFX vs Kwakol Markets OctaFX vs IG Group OctaFX vs InstaForex
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Review OctaFX
Review
World Forex
Review
Kwakol Markets
Review
IG Group
Review
InstaForex
Review

Compare Trading Instruments

Compare OctaFX Trading Instruments
OctaFX World Forex Kwakol Markets IG Group InstaForex
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper No No Yes Yes Yes
Silver Yes Yes Yes Yes Yes
Corn No No No No No
Crypto Yes Yes Yes Yes Yes
Futures No No No Yes Yes
Options No No No Yes No
ETFs No No No Yes Yes
Bonds No No No Yes No
Warrants No No No No No
Spreadbetting No No No Yes No
Volatility Index No No No Yes No

OctaFX vs Other Brokers

Compare OctaFX with any other broker by selecting the other broker below.

OctaFX vs

The most popular OctaFX comparisons:

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  5. OctaFX vs XTB
  6. FBS vs OctaFX
  7. OctaFX vs IQ Option
  8. OctaFX vs Exness
  9. HotForex vs OctaFX
  10. OctaFX vs Olymp Trade

FAQ

Is OctaFX A Legit Company And Regulated Broker?

OctaFX is a legitimate company registered in Saint Vincent and the Grenadines and regulated by the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA). The EU entity is registered in Limassol, Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). If you’re unsure whether a broker is a scam or a legit company, read our guide and check out customer reviews online.

Is OctaFX A Market Maker?

OctaFX is a No Dealing Desk (NDD) broker and therefore acts as an intermediary between the trader and the market. OctaFX receives commissions from its liquidity providers for each transaction.

How Do I Delete My OctaFX Trading Account?

To delete your OctaFX trading account, you will need to get in touch with the customer support team. Note, accounts are automatically deactivated if you never deposit or sign in to them.

How Do I Open A Copy Trading Account At OctaFX?

You can sign up and login to the OctaFX copy trading service in a few easy steps. Once you login to your personal area, you can set up your copy trading profile and deposit to your wallet. You can also sign in to your new account using the Android app.

Why Was My OctaFX Withdrawal Rejected?

If you encounter a withdrawal problem when using the OctaFX trading platform, you will receive a notification in an email explaining the issue. Alternatively, if you need to cancel a withdrawal, you can do this within your personal area.

Does OctaFX Offer Any Free Bonus Deals?

OctaFX offers a 10%, 30% or 50% deposit bonus deal. No other promo codes or no-deposit bonus deals are currently available. Check out the bonus terms and conditions before participating.

No. OctaFX does not have authorization from the Reserve Bank of India (RBI). They are not authorized to offer forex trading in India. In September 2022, the Indian Enforcement Directorate (ED) froze several bank accounts belonging to OctaFX India and related companies for illegal forex trading. It is not illegal for you to use OctaFX to trade forex, but it is illegal for them to offer forex trading, and this causes extra risk for you as a trader as you risk losing money due to the Indian Enforcement Directorate (ED) freezing more of the brokers’ accounts.

Similarly, the State Bank of Pakistan has declared forex trading platforms illegal in Pakistan.

OctaFX offers commission-free multi-asset trading on MT4 & MT5 platforms with tight floating spreads. Users can also benefit from a proprietary copy trading service.

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