OctaFX Review 2021

OctaFX Review 2021
Davis J.
Robertson A.
January 2021

247

Position
in rating

Trading terminals:

cTrader MetaTrader4
MetaTrader5
247

Position in rating

2.27/10
Overall rating

Trading terminals:

cTrader MetaTrader4
MetaTrader5

Attention!

Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.

Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:

Summary of OctaFX Trading Company

The OctaFX Broker has been providing Forex services since 2011. It operates under the CySEC license and provides favorable conditions for Forex traders. At the moment, OctaFX has been chosen by more than 6.6 million clients worldwide as an intermediary to the financial markets, but the broker is focused on the countries of the Asia-Pacific region. Its services are used by both active traders and passive investors who prefer to copy the successful trading strategies of other market participants. In 2020, OctaFX was named The Best CFD broker in the Asia-Pacific region by Capital Finance International, and in 2021, The Best Forex Broker in Asia by Global Banking and Finance Review.

💰 Account currency: USD, EUR
🚀 Minimum deposit: From USD 100
⚖️ Leverage: Up to 1:500
💱 Spread: From 0,6 pips
🔧 Instruments: 32 currency pairs, 5 cryptocurrencies, CFDs on energy resources, indices, gold, and silver
💹 Margin Call / Stop Out: 25%/15%
Attention!

The rebate of the Traders Union spread is available only for trading accounts opened through the Union's website.

👍 Advantages of trading with OctaFX:

  • Offers proven platforms for trading such as MetaTrader 4, MetaTrader 5, and cTrader.
  • Tight spreads from 0.6 pips and no non-trading commissions from the broker for deposits or withdrawals of funds.
  • Wide trading opportunities including a variety of assets and access to a service for copying trades.
  • Available minimum deposit. To start trading, you need to deposit at least $100 into your account.
  • It is licensed to carry out brokerage activities by the Cyprus regulator CySEC.
  • Execution of more than 97% of orders without slippage.
  • The ability to choose the type of spread (floating or fixed) on MT4 accounts.

👎 Disadvantages of OctaFX:

  • Cryptocurrencies and CFDs cannot be traded on cTrader accounts.
  • Limited choice of investment solutions to generate passive income.
  • The list of payment systems changes regularly.
  • The amount of EPS commissions is not indicated on the company's website.

Overall

The OctaFX broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.

Visit OctaFX

Geographic Distribution of OctaFX Traders

OctaFX Latest Comments for 2021

9
1
5

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of OctaFX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

CFD is a high-risk instrument. If you still try to trade it through a pseudo-broker, the chances of earning nears zero. That is why I choose a financial agent very scrupulously. I didn’t want to get scammed and suffer debts. I think I was lucky with OctaFX. The broker is regulated and fulfills all obligations honestly. Spreads are really tight and start from 0.6 pips for the Eurodollar, there are no non-trading commissions. In general, everything suits me.

I started my trading career with OctaFX. This broker was recommended to me by a friend. There were several arguments in favor of this company. First, it really works in the legal field and does not cheat with transactions (they offer universal terminals, MT4 and MT5, for trading—for which there are a lot of guides on the web). Second, the entry threshold on this site is only $100. Considering that I am still a student, the start-up capital is very limited. I registered on the OctaFX website just a couple of weeks ago and have already withdrawn my first profit of $300. Everything is ok for now and the flight is normal.

I have a similar story, I also started with OctaFX. Before that, I tried to register on the platforms of more eminent and well-known brokers, but they really got arrogant with me. Either the trade requirements are inadequate, or there is no Russian-language version on the terminal website. This option did not suit me, so I was looking for an alternative. I finally got what I wanted. OctaFX not only offers active trading on favorable terms, but also allows me to earn money by copying trades from more successful users. Yes, this is not PAMM or MAM, where nothing needs to be done at all, but the exhaust is also excellent.

I perfectly understand that in terms of the range of investment offers and even the variety of assets, OctaFX, perhaps, is inferior to some other brokers. However, I am not going to leave this platform. I'm really comfortable trading here. Spreads are adequate, I did not notice slippage when opening or closing deals, and there is access to social trading. I believe that cooperation with this company will be interesting for both beginners and professionals. Of the shortcomings, I can only point out a limited selection of investment offers (apart from copy trading, there is nothing).

I saw somewhere in the reviews that people signed up for OctaFX to trade CFDs. I did too. But the broker surprised me unpleasantly because it is impossible to trade either crypto or CFDs using cTrader. I had to switch to MT4, but I didn’t want to because I never liked MT4 or MT5. And one more negative point is the concealment of commissions when withdrawing funds. The broker does not indicate how much will be withdrawn when choosing one or another method, this is very inconvenient.

As for me, OctaFX is an average broker. The terms are standard, no better and no worse than most of its competitors. When my friend asked for advice on this company, I told him that this broker has been working in the market for several years and its documents are in perfect order. Plus, the deposit here starts at $100, so you can practice in real trading with minimal risks. An acquaintance registered at OctaFX a couple of months ago and he says that everything is okay.

I have been working with OctaFX brokerage organization for half a year already. She has something to praise. The entry threshold of $100 is a perfectly acceptable condition even for student traders. IMHO with a smaller amount, there is generally no point in starting a path in the financial markets. Better to save more money for the deposit. And I also liked the fact that the company is able to motivate its customers. For this, contests are provided (even on the demo), as well as bonus rewards. I think it's cool when a company cares so much about its traders.

2 3 >

Expert Review of OctaFX

OctaFX is an international broker that strives to provide favorable and transparent conditions to all Forex traders, regardless of their experience and trading skills. So, spreads start from 0.6 pips, there are no commissions for replenishment and withdrawal of funds, and all trading strategies are allowed. The broker offers bonuses and regularly holds contests on demo accounts, the winners of which receive real, not virtual, money.

The OctaFX brokerage company does everything to provide clients with a comfortable working environment. For trading, the most popular platforms among traders — MT4, MT5, and cTrader — are provided. You can make trades from any device, including those operating on mobile platforms. Web terminals are also available. The broker does not have cent accounts, thus beginners and potential clients are unable to test the conditions and service of OctaFX without risks. However, demo accounts can be opened on all three platforms.

The broker's website is informative and well structured. Here, a novice and experienced trader will find a lot of useful information such as training, high-quality analytics, Forex news, and an economic calendar. The support service works promptly and answers questions within a few minutes.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

2.27

Overall rating

2.06

/10

Execution of orders

2.48

/10

Investment instruments

2.12

/10

Withdrawal speed

2.42

/10

Customer Support work

1.9

/10

Variety of instruments

2.64

/10

Trading platform

Dynamics of the Popularity of OctaFX
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets and Products of the Broker

OctaFX is focused on active traders. Therefore, it offers only two options for earning passive profit: participation in the affiliate program and CopyTrading. Both programs enable clients to earn money without having to trade independently. At the same time, thanks to the service of copying trades, members can also receive additional profit. It is paid to subscribers who mirror the trading strategies of more experienced market participants.

CopyTrading is an investment solution for generating passive income

To start copying trades of successful traders through the automated OctaFX platform, you need to open a trading account and make a deposit. Next, you need to select a signals provider (master trader) from the rating published on the broker's website. A trader can be selected by the percentage of growth, the size of profit and loss, and the number of connected subscribers, etc. After joining the selected account, the master trader’s signals are automatically copied to the investor's account. If the trade is profitable, the subscriber gives a part of it (agreed in advance) to the master trader.

  • The investor can connect to an unlimited number of strategy providers. Subscribing to multiple master traders allows the investor to create a balanced and diversified trading portfolio to generate a stable income.

  • The investor has complete control over the trading process. At any time, he can stop copying, unsubscribe or close an unprofitable trade.

  • OctaFX provides super fast copying speed. Trade on the investor's account is copied within 5ms after the master trader has placed a trade order.

  • The investor himself determines the acceptable level of risk. In the settings, the subscriber specifies a certain percentage of his deposit, from 1% to 100%. If the current balance decreases by the amount set by the investor, the system automatically pauses itself and ceases to copy new trades.

Any client of the broker can become both a master trader and a subscriber. To become a strategy provider, you need to regularly make profitable trades and then add your account on the monitoring page. The higher the trading performance of the master trader, the higher his score rises in the overall rating. A high position in the list of successful traders is a guarantee of increased interest from potential investors.

Important!

If you are a large investor and plan on investments over $10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

OctaFX’s affiliate program

  • “Invite a friend” - a program that rewards $1 for 1 standard lot traded by the attracted referral, the minimum withdrawal amount is $5;

  • "IB" – (Introducing Broker) the partner receives from $3 to $12 depending on the total number of connected clients;

  • Master IB is a program for those who have created their own IB network. The master trader receives a 10% commission from the profits received by the attracted IB. He also has access to the standard introducing broker remuneration.

All IB Partners are eligible for additional cash rewards. OctaFX pays from $100 to $2,000 once every 30 days to introducing brokers if the total trading volume of their connected clients has exceeded 100 lots over the last month, and they have attracted new referrals.

Rebate and Discount Programs of the Traders Union for OctaFX

For more than 10 years, Traders Union has been paying spread rebates to Forex traders. Consolidation for each completed trade compensates for up to 100% of the trading commission withheld by the broker. That is, the rebate is paid on trades closed not only with a profit but also with a loss. To participate in the payment program, you need to register with Traders Union (it is quick, easy, and free), and then open an account with the selected broker through the Traders Union website. Here you can read detailed instructions on how to become a Traders Union partner.

Try it!  Try it!

Trading Conditions for OctaFX Users

OctaFX trading conditions are suitable for both experienced and novice Forex traders. The broker offers tight market spreads from 0.6 pips, a wide range of assets, and popular trading terminals. The maximum leverage for currencies is 1:500; cryptocurrencies - 1:10; metals - 1:200; oil - 1:100; and indices - 1:50. The minimum deposit for all types of accounts is $100. The broker provides a bonus for replenishment, and also regularly holds contests with prizes, cash, and trading rewards.

$100

Minimum
deposit

1:500

Leverage

24/5

Support

cTrader MetaTrader4
MetaTrader5
💻 Trading platform: MetaTrader 4, MetaTrader 5, cTrader
📊 Accounts: Demo, OctaFX MT4, OctaFX MT5, OctaFX cTrader
💰 Account currency: USD, EUR
💵 Replenishment/Withdrawal: Bank transfer, Neteller, Skrill, Visa cards, Bitcoin, cryptocurrency
🚀 Minimum deposit: From USD 100
⚖️ Leverage: Up to 1:500
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 Spread: From 0,6 pips
🔧 Instruments: 32 currency pairs, 5 cryptocurrencies, CFDs on energy resources, indices, gold, and silver
💹 Margin Call / Stop Out: 25%/15%
🏛 Liquidity provider: No data
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Market execution
⭐ Trading features: All trading strategies are allowed; you can open an MT4 account with a floating or fixed spread
🎁 Contests and bonuses: Contests on demo accounts on MT4 and cTrader with the opportunity to win real money; bonus from 10 to 50% of the deposit amount; Status program

Comparison of OctaFX with other Brokers

OctaFX FxPro XM Group Admiral Markets UK AvaTrade eToro
Trading
platform
No MT4, MobileTrading, MT5, cTrader MT4, MT5, MobileTrading MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option MobileTrading, WebTrader
Min deposit No $100 $5 $200 $100 $200
Leverage No From 1:1
to 1:200
From 1:1
to 1:30
From 1:25
to 1:500
From 1:200
to 1:400
From 1:2
to 1:30
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread No From 1 point From 1 point From 0 points From 0 points From 2 points
Level of margin call
/ stop out
No 50%  /  50% 100%  /  50% 100%  /  30% 25%  /  10% No
Execution of orders No Market Execution, Instant Execution Market Execution Market Execution Instant Execution Instant Execution
No deposit bonus No No $30 No No No
Cent accounts No No Yes No Yes No

Broker comparison table of trading instruments

OctaFX FxPro XM Group Admiral Markets UK AvaTrade eToro
Forex Yes Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes Yes
Crypto Yes Yes No Yes Yes Yes
CFD Yes Yes Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes Yes
Stock No Yes Yes Yes Yes Yes
ETF No No No Yes No Yes
Options No Yes No No No Yes

OctaFX Commissions & Fees

Information

The effectiveness of Forex trading depends on the size of the commission, so the task of the Traders Union analysts is to identify all types of broker’s fees. The study of OctaFX conditions showed that the company keeps the spread on all types of accounts as a trading fee. There is an additional trading commission on cTrader accounts: for 1 traded lot, the broker charges $2-3, depending on the instrument. OctaFX does not charge clients a non-trading commission for depositing and withdrawing funds; however, it can be charged by payment systems.

Account type Spread (minimum value) Withdrawal commission
MT4 From $6 No
MT5 From $6 No
cTrader From $8 No

There are no swaps on MT5 and cTrader accounts. Owners of MT4 accounts can refuse the accrued commission by opening an Islamic analog of the account. The analysts also compared the size of the average commission of three Forex brokers - OctaFX, Admiral Markets, and FXPro. As a result of the analysis, each of them was assigned a certain level, which is indicated in the table below.

Broker Average commission Level
OctaFX $6.6 Low
FxPro $13.2 High
OctaFX
$6.6
FxPro
$13.2
Conclusion

Low spreads are indicated on the OctaFX website, but in real trading, their size may be higher than that of competitors because Traders Union pays commission rebates on Admiral Markets and FXPro.

Detailed Review of OctaFX

OctaFX has been providing brokerage services for over 10 years and is constantly increasing the number of its active users. The broker works with a large number of liquidity providers around the world, so his clients receive the best-aggregated prices. OctaFX trade servers and data centers are located throughout Europe and Asia, ensuring low latency and stable connections. The company operates on the ECN/STP model and executes orders at market price in less than 0.1 seconds.

A few figures about the broker, which are published on its official website:

  • More than 6.6 million open trading accounts.

  • More than 500 million completed trades.

  • Serving customers from 100 countries.

  • Presence of 38 international awards from financial experts in the Forex industry.

OctaFX is a reliable broker for entering the Forex market

OctaFX offers low spreads, various commission-free deposit and withdrawal methods, and negative balance protection. A wide range of trading instruments is available to clients. In addition to currency pairs, metals and CFDs, here you can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple cryptocurrencies. The terminals are compatible with any device with internet access and they support all major tools, including one-click trading, advanced charting, and technical analysis. OctaFX uses modern technologies to protect the transactions and personal data of customers. The user's personal account is protected by SSL and 128-bit encryption, and 3D secure technology is used to process credit and debit cards.

The broker provides its clients with the classic trading platforms MetaTrader 4 and MetaTrader 5, as well as the cTrader terminal, which is also very popular among traders. All of them are available in mobile and desktop versions. It is also possible to trade directly through a web browser without installing the platform on your device.

Useful services of OctaFX:‌

  • AutoChartist. A free automatic alert service compatible with MT4 and MT5 with over 83% trend prediction accuracy for currency pairs.

  • Traders tools. Useful tools, such as profit and trade calculators, real-time quotes, and rating of the best trading accounts available for copying are offered.

  • Analytics. The section includes market information, economic calendar, market analysis, Forex news, interest rates, and a holiday calendar.

Advantages:

1

You can trade with high leverage. The maximum size is 1:500 for currency pairs.

2

High-level protection of customer funds and data (personal and payment) is processed through a secure SSL protocol, a license, and segregated accounts.

3

A platform for copying trades with the ability to control risks is available.

4

There is high-quality and free analytics such as market analysis, Forex news, and real-time quotes.

5

The availability of online chat, the operators of which promptly answer questions and solve technical problems that arise.

The broker allows the use of all trading strategies such as: hedging, scalping, news trading, and the use of advisors on all types of accounts.

How to Start Making Profits — Guide for Traders

OctaFX offers three types of live accounts. They differ in the assets available for trading, the level and type of spread, and the existence/nonexistence of additional trading commissions.

Account types:

Account Type
Description
OctaFX MT4
OctaFX MT4 is a standard account for trading 32 currency pairs, CFDs, gold, silver, energy, four indices, and five cryptocurrencies. The owner can choose the type of spread that suits his trading strategy. The floating spread for the EUR/USD pair starts from 0.6 pips. The fixed spread for any market situation is equal to 2 pips.
OctaFX’s MT5
OctaFX’s MT5 is an account that is recommended for advanced trading. It offers the widest range of assets: the broker has added six more indices to the ones listed above. The spread floats from 0.6 pips.
OctaFX’s cTrader
OctaFX’s cTrader is an ECN account for progressive traders looking for maximum transparency in pricing. Through cTrader, you can make trades with 28 currency pairs, gold, and silver. At the same time, trading in cryptocurrencies and CFDs is not available. The commission per lot for currency pairs and precious metals is USD 2-3, depending on the selected asset.

You can open a demo account on each of the available trading platforms.

OctaFX is a broker that offers favorable trading conditions to traders of any experience.

Bonuses Paid by the Broker

Bonuses of 10% to 50% are paid for each deposit starting at $50

During the period of special offers, the client can request a reward in the amount of 100% of the amount deposited into the account. The bonus is available for withdrawal after meeting the requirements for the trading volume.

OctaFX Bonuses - $50 deposit
OctaFX Bonuses - $50 deposit

Contests on MT4 demo accounts

The winners of the competition, who take the first five prizes, receive real money to their trading account. The amount of remuneration ranges from $40 to $500. The term of the round is four weeks. Money can be withdrawn or transferred to a real account for further use in trading.

OctaFX Bonuses - Contest on MT4 demo accounts
OctaFX Bonuses - Contest on MT4 demo accounts

Contest on cTrader demo accounts

The general rules for calculating a bonus are the same as described above. The timing and amount of remuneration differ: the competition lasts seven days and takes place every week, prizes range from $25 to $150.

OctaFX Bonuses - Contest on cTrader demo accounts
OctaFX Bonuses - Contest on cTrader demo accounts

Status Program

Receive additional trade and customer benefits after being assigned one of four levels.

OctaFX Bonuses - Status program
OctaFX Bonuses - Status program

Bonuses during the month of Ramadan

Clients have access to lower spreads and a deposit bonus of 100% of the deposited amount.

OctaFX Bonuses - Ramadan bonus
OctaFX Bonuses - Ramadan bonus

Bonus from Traders Union

Traders Union clients receive bonuses in the form of a rebate based on a part of the spread, which is compensation for the trading commission that the broker deducts for providing access to the Forex market. Payments from the Traders Union are available only to those traders who registered on the Union's website and then opened an account with the broker using a unique partner link. The rebate of the spread is calculated for all completed trades, profitable and non-profitable.  If you are already an existing OctaFX customer, then here you can find step-by-step instructions that will help you link your account with your Traders Union account.

Investment Education Online

Information

A novice trader will find a lot of useful educational information on the OctaFX website in the Education section. In addition to the basics of trading, the services and conditions that the broker offers to its clients are described in detail here.

Information available in the Education section
Information not available at the OctaFX site
Forex trading basics: what is ECN technology, description of popular trading strategies, introduction to fundamental and technical analysis, principles of Risk Management
Descriptions of different options for passive investment - trust accounts, PAMM, asset portfolios
Video tutorials on working with MetaTrader terminals, a trading account, and the service for copying trades
Detailed analysis of technical indicators
Detailed instructions on opening an account, making a deposit, withdrawing funds, getting started with terminals and the Autochartist plugin
 
Glossary of Forex Terms
 
Webinars on trading strategies, fundamental analysis, etc. from industry experts
 
Answers to frequently asked questions about trading conditions, terminals, personal accounts, bonuses, and contests
 

Trading on a demo account is an opportunity to test all the theoretical knowledge gained by using the demo account which does not allow financial losses.

Security (Protection for Investors)

Information

The OctaFX broker is registered under the trademark Octa Markets Incorporated and is regulated by the laws of Saint Vincent and the Grenadines.

The official supervisory authority is CySEC, which is the Cyprus Securities and Exchange Commission. Brokerage activities are carried out under license No. 372/18. CySEC is the authoritative regulator of the Eurozone, whose responsibility is to prevent financial wrongdoing and manipulation by brokers licensed by the Commission.

👍 Advantages

  • Customer funds are held in segregated accounts with large banks
  • Negative balance protection active
  • Complaint to the regulator can be filed by a private trader

👎 Disadvantages

  • You cannot make a deposit without going through a verification

Withdrawal Options and Fees

  • OctaFX's finance department processes withdrawal requests within 1-3 hours during business hours - Monday through Friday and from 6:00 am to 10:00 pm ET.

  • Money can be withdrawn by bank transfer, to Visa cards, through Neteller, Skrill. Withdrawals in cryptocurrency is available.

  • Terms of funds crediting. When withdrawing to EPS - up to 5 minutes; to cards - up to 1 hour; and crypto - up to 30 minutes.

  • Minimum withdrawal amount: Visa - $20; Skrill and Neteller - $5; and 0.00096000 BTC and 0.00500000 ETH.

  • The broker does not charge a commission for deposits or withdrawals.

  • Withdrawal and deposit currencies: Bitcoin, Ethereum, for cards, Neteller, Skrill, and bank transfer in EUR and USD.

Customer Support Service

Information

Live chat operators are in touch every day, but they work around the clock only from Tuesday to Friday.

👍 Advantages

  • There is an online chat
  • You can contact support by phone and via messengers
  • Support is available in 9 languages

👎 Disadvantages

  • Weekend opening hours are limited

To communicate with the broker, the client can use:

  • telephone;

  • email;

  • online chat;

  • instant messaging services Twitter, Telegram, or Facebook;

  • internal tickets of the client terminal.

You can contact technical support representatives from the broker's website and through your personal account.

Contacts

Registration address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
Official site

Review of the Personal Cabinet of OctaFX

To start trading Forex through the OctaFX broker, you need to become its client. Here is a brief instruction on how to open a trading account and create a personal account:

1

On the main page of the broker's official website, click Open Account.

OctaFX review - Open Account
OctaFX review - Open Account
OctaFX review - Open Account
2

Fill out the form with your first name, last name, and email, or register with your Facebook or Google account. Confirm your email address and then log in to your Personal Account. Select your trading account type (MT4, MT5 or cTrader) and click Continue. After that, a letter with the credentials of the created trading account and PIN code will be sent to the email you specified during registration. After verififying your identity, you can make a deposit and then select assets to trade.

3

The functionality of the OctaFX personal account:

1. Making a deposit, withdrawing funds, applying for a deposit bonus:
OctaFX review - OctaFX personal account functionality
OctaFX review - OctaFX personal account functionality
2. Connection to the platform for copying trades:
OctaFX review - Copying trades
OctaFX review - Copying trades
1. Making a deposit, withdrawing funds, applying for a deposit bonus:
OctaFX review - OctaFX personal account functionality
OctaFX review - OctaFX personal account functionality
2. Connection to the platform for copying trades:
OctaFX review - Copying trades
OctaFX review - Copying trades

Also in the personal account, a trader can perform the following actions:

  • Go to the web terminal for trading through the browser of a mobile device or PC.

  • Set up trading conditions by adjusting the leverage.

  • Change the type of swap account to Islamic.

  • Add your account to Monitoring. This allows you to share your performance, charts, profit, orders, and history with other users, who select a trader to copy trades in the Monitoring section.

Tags:

OctaFX Octa FX www octafx.com www octafx com octafx.com octafx com

The Oldest Reviews of the OctaFX

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of OctaFX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I am not used to advising someone on brokers because I believe that everyone should choose the appropriate option themselves so that later they do not have someone to blame. Therefore, I just want to tell you about my experience of working with this broker. Initially, I checked the legal documents and found everything to be in perfect order. The company is regulated and wants to work in the legal field. I did not notice any problems with the implementation of the agreements. It is comfortable to trade and the terminals are familiar. There are some issues with the support team because sometimes you have to wait a long time for a response. I do not exclude the fact that the load is large, but I still want the broker to pay attention to this and correct the situation.

OctaFX knows how to lure traders. I have been using this platform myself for several years. The trade is going with varying success, but overall I am gaining profit. And recently I joined the affiliate program. There are no methods for passive earnings on the platform. There is only an affiliate program and copy trading to follow successful traders. There are several referral options: “Invite a friend”, which I use, and also offer Master IB and IB for experienced partners. I haven’t tried it yet, but they say that it’s what you need for professionals.

For several years now I have been trading with the brokerage organization OctaFX and so far everything suits me. I know the MT4 terminal well, so I didn't have to deal with the functionality and interface for a long time. There are no questions about spreads; for example, for the Eurodollar, the spreads fluctuate between 0.8 and 1.8 pips in a volatile market. For replenishment of a trading account through Skrill, the broker does not charge me anything, and the payment system itself is mere pennies.

OctaFX is the first broker with which I've worked. I've only been trading Forex for a few months, but I've already gotten a lot of experience. Because the platform has a demo and a high-quality training base, trading here will be comfortable even for beginners. I always wanted to find a broker I can rely on. As far as payment discipline is concerned, I have no questions to ask the broker. He honestly fulfills all agreements. It is immediately clear that the company is working to expand its customer base and is trying to maintain a positive reputation.

I was personally disappointed in OctaFX because I expected much more from it than I received. The company did not let me down regarding payments, but the list of assets and investment proposals is not very abundant. There are more interesting options. I have not yet given up trading with this broker because I have not yet selected a replacement, but I am actively searching. I want to find a company that offers the best balance of proposals for passive/active earnings.

OctaFX is worthy of the attention of traders, both beginners and professionals. I liked the tutorials section very much. The presentation of the materials is simple and straightforward, and there are many examples. I already have experience in trading, albeit small, but I also learned a lot of interesting things for myself. I have not yet applied for a withdrawal, and I plan to do so in a few weeks. If the company shows that it pays money honestly, I will continue to cooperate with it. I heard from friends that payment discipline is all good here.

In principle, I am not a fan of passive investing, so the lack of a wide selection of such offers at OctaFX did not concern me in any way. It is only a service for copying transactions, so what? The main thing is that the broker honestly fulfills all agreements and pays profit. I have never seen delays or some kind of scam with commissions. The choice of EPS is constantly changing, so keep track of the offers. I also want to note the high quality of customer service. The company tries to support traders, therefore it recruits professionals to its team who are always ready to support.

Author of this Review

OctaFX broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the OctaFX rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about OctaFX you need to go to the broker's profile.

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To leave a review about OctaFX, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about OctaFX on a non-Traders Union client?

Anyone can leave feedback about OctaFX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with OctaFX through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.