Pros
  • Established in 2011
  • Regulated by FSA
  • Min. deposit from 5$
Cons
  • Only 40 trading tools
  • Not regulated by FCA

Company Information

OctaFX has been established since 2011 with a head office in St. Vincent and the Grenadines. It has been operating primarily out of Jakarta, although primarily it was incorporated in St. Vincent and the Grenadines. Now it has developed a strong client base in the Asia-Pacific region. OctaFX does, however, cover the global markets, serves customers in over 100 countries, and also has offices in Spain, Cyprus, and Malaysia. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Markets

OctaFX offers over 40 different instruments to trade, including over 28 currency pairs. Generally, you can choose among those assets classes with this broker:

● Currency pair Trading
● CFDs
● Commodities Trading
● Cryptocurrency Trading
● Stock Trading
● Live quotes

Trading accounts

OctaFX suggests its clients three account types with different trading platform. You can open a Micro account, which uses MT4, and is recommended for a novice trader, as it supports small investments. This is also the most popular type. Second, is a Pro account, which is recommended mostly for an experienced trader for lowest spreads and less trading costs. It uses MT5 platform. And the last one is ECN account, which is recommended for progressive trader, as it stands for more transparency in pricing. It uses cTrader platform.

  • MICRO
  • • Floating spreads from 0.4 pips
    • Fixed spreads from 2 pips
    • Leverage – up to 1:500
    • No commission, markup
    • Recommended deposit – 100$
    • Min deposit – 5$

  • PRO
  • • Floating spreads from 0.2 pips
    • No fixed spreads
    • Leverage – up to 1:500
    • No commission, markup
    • Recommended deposit – 100$
    • Min deposit – 5$

  • ECN
  • • Floating spreads from 0 pips
    • No fixed spreads
    • Leverage – up to 1:500
    • No commission, markup
    • Recommended deposit – 100$
    • Min deposit – 50$

Open an account

Opening an account with OctaFX is an easy process. To complete the registration of an account at this broker you should submit the basic documents like some verification of a person and an address. Once you have completed all the above steps you will have access to a live trading account.

Minimum deposit

You can open an account with a minimum deposit of only 5$ at a Micro account, and 50$ – at both a Pro and a ECN accounts.

© OctaFX website screen

Trading Platforms

OctaFX suggests its clients very popular platforms, like MetaTrader 4 and its updated version MetaTrader 5. You can also choose another platform, namely cTrader. You can read more about the difference among the abovementioned platforms here.

Our verdict

After thorough research, we can make such conclusions. OctaFX is a regulated broker by FSA, however, it is not regulated by FCA. From among its account offerings, including MT4 and cTrader platforms, theMT5 Pro account stands out but still trails industry leaders in terms of low-cost forex trading and range of markets. In total, OctaFX offers less than 50 tradeable symbols. Taking into account its experience over 9 years in online trading, it earned a solid reputation and is rather respectable among its clients. Also, the minimum deposit is only 5$. But pay attention to the fact, that the broker offers only 40 trading tools. So set your priorities first, and be ready to trade.

OctaFX Details

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Currencies:
Licences:
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Winona Thompson
Winona Thompson
November 11, 2020 1:21 pm

Honest broker. Has quick support. Lowest fees. It is the best broker capable with my EA. When I make a withdraw, The amount transfer within 2 hours to my eWallet. I recommend this broker to everyone.

Ingrid Roberts
Ingrid Roberts
November 7, 2020 5:58 pm

Excellent broker, never had problems with their service. The main advantage for me is to make deposits and withdraws in BTC. Nice!

Tristian Peterson
Tristian Peterson
November 5, 2020 9:22 pm

Can anybody say about ‘client agreement’? I have live account with this broker. But when I download the client agreement pdf’, I can’t see my name. Why??

Brayden Collins
Brayden Collins
November 3, 2020 12:05 pm

This is the BEST broker. I am from U.S and it is hard to find a trust worthy broker that accept U.S client. After switching to OctaFX, I started saving 15% or more on my car insurance. Wait, that’s Geico. My hair started to turn from gray to black (I’m Asian). I sleep better at night. I can say that OctaFX is a life changing broker.

Venus Morris
Venus Morris
November 2, 2020 1:09 pm

I’m from the US. I have been with OctaFX for 2 years and my experience with OctaFX has been wonderful. I withdraw using bitcoin and it’s fast and easy. Customer service is kind and courteous on live chat which is a big plus for me. Trade execution is quick. Spreads are normal.

Any negative reviews on OctaFX are all from inexperience traders who do not know what they are doing. These inexperienced traders lose their money because they do not know how to trade and then they blame the broker.

OctaFX has always worked well for me.

Zoie Martinez
Zoie Martinez
October 30, 2020 8:44 pm

I have had nothing but great service and a great trading experience with OctaFX! You wont find a better broker, nor one that cares about their clients as much as OctaFX. True ECN, and good spreads. They are always looking for ways to improve too! Keep it up OctaFX!!

Ford Turner
Ford Turner
October 28, 2020 10:18 pm

Good customer service fast withdrawal !Btc payment !
never had a problem! Keep going guys!
Thank you!

Ziva Turner
Ziva Turner
October 25, 2020 8:01 pm

After about a year of trading with this broker, I continue to have some issues with their support staff. The problem is that they answer slowly, as for me

Winona Thompson
Winona Thompson
October 25, 2020 7:13 pm

I am going on three years with OctaFX and I am very pleased with their service. I use their MT4 trading platform and never had any major issues. In the past, I have used their free VPS and was not pleased at all. My suggestion is get your own fast reliable VPS and you cannot go wrong with OctaFX. The only support I have used is either their chat or email. Email does take a while to get a reply but you will get one. If you are in a hurry, go with the chat. They are professional, reliable and I feel they are after what is best for their client

Noemi Simmons
Noemi Simmons
October 25, 2020 5:04 pm

EXTREMELY HONEST REVIEW .Finding a broker is hard, the hardest thing in the Forex market actually. WIRING MONEY IS TERRIBLE DONT EVEN BOTHER. but bitcoin deposits and withdrawals are a breeze. They have pretty good spreads, literally half a pip spread on Eur/Usd.

Katelyn Mitchell
Katelyn Mitchell
October 24, 2020 3:51 pm

I lost my initial deposit, but i”ll not blame broker for my bad trading ,that was totally my fault, OctaFX provided me excellent service for trading, So i am quite happy with the service, There is no stop loss hunting or kind of any cheating from their side, I’ll prefer OctaFX for trading in future too.

Price Lee
Price Lee
October 22, 2020 1:03 pm

Very good and responsible, Best broker platform in Forex trading with bitcoin currency account