Octa Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $25
- MetaTrader4
- MetaTrader5
- OctaTrader
- FSCA
- MISA
- CySEC
- 2011
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $25
- MetaTrader4
- MetaTrader5
- OctaTrader
- FSCA
- MISA
- CySEC
- 2011
Our Evaluation of Octa
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Octa is one of the top brokers in the financial market with the TU Overall Score of 8.92 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Octa clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
The Octa 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.
Brief Look at Octa
Octa is a broker of choice for investors worldwide who wish to trade CFDs on highly favorable conditions, including lower entry thresholds and short to medium-term trading strategies. Octa was launched in 2011, and has grown to be on the edge of the industry today. Octa offers top services for both traders who choose live trades and investors who choose copy trading. Today, Octa is proud to serve over 6.6 million customers globally as an intermediary to the financial markets. The company mainly focuses on the countries of the Asia-Pacific region, in particular India, Indonesia, Malaysia, and others. Octa is a world-known broker that has won more than 60 awards.
- Offers proven platforms for trading such as MetaTrader 4, MetaTrader 5.
- 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 $25 into your account.
- Execution of more than 97% of orders without slippage.
- The ability to choose the type of spread (floating or fixed) on MT4 accounts and MT5.
- Octa provides its own trading platform - OctaTrader with Space, a smart feed with trading ideas and deep analysis. OctaTrader is powered up with price alerts and instant trading notifications.
- Limited choice of investment solutions to generate passive income.
- The list of payment systems changes regularly.
TU Expert Advice
Financial expert and analyst at Traders Union
Octa 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 Octa brokerage company does everything to provide clients with a comfortable working environment. For trading, the most popular platforms among traders — MT4, MT5 — 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. However, demo accounts can be opened on the aforementioned 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.
- You wish to avoid paying non-trading fees. Octa does not charge fees for depositing, withdrawing funds, or currency conversion. This means that a trader's expenses are limited to spreads and trading fees.
- You prefer straightforward and clear trading conditions. The broker works with the MT4 and MT5 platforms and offers a proprietary OctaTrader platform. The minimum deposit is $25, and spreads start from 0.6 pips. The available assets depend on the chosen platform.
- You require complete transparency. The broker offers only one account (excluding demo), and some parameters are hidden from unregistered users. For instance, you won't know the trading fee in advance.
- You value platform stability. According to user reviews, the deposit/withdrawal methods used by Octa change regularly. Currently, only Visa, Neteller, Skrill, and a few cryptocurrency wallets are available. This is not the most extensive or user-friendly selection.
Octa Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5, OctaTrader |
|---|---|
| 📊 Accounts: | Demo, Octa MT4, Octa MT5 |
| 💰 Account currency: | USD, EUR |
| 💵 Replenishment / Withdrawal: | Bank transfer, Neteller, Skrill, Visa/MasterCard, Bitcoin, cryptocurrency, instant bank transfer, local banks, e-wallets |
| 🚀 Minimum deposit: | From USD 25 |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0,6 pips |
| 🔧 Instruments: | 32 currency pairs, 10 cryptocurrencies, 3 CFDs on energy resources, 10 indices, gold, silver and +150 CFDs on stocks |
| 💹 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; MT4 account with a floating or fixed spread. |
| 🎁 Contests and bonuses: | Contests on demo accounts on MT4 with the opportunity to win real money; bonus from 10 to 50% of the deposit amount; Status program; Trade and win program |
Octa 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 $25. The broker provides a bonus for replenishment, and also regularly holds contests with prizes, cash, and trading rewards.
Octa Key Parameters Evaluation
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Kirah 
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KE Nairobi 
They have a good demo account
The most popular traders charge significant commissions - up to 33%, while their profitability is quite low.
ASIM
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PK Rawalpindi
User-Friendly Platform
NO ONE
Trading Account Opening
To start trading Forex through the Octa broker, you need to become its client. Here is a brief instruction on how to open a trading account and create a personal account:
On the main page of the broker's official website, click Open Account.
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) 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.
The functionality of the Octa personal account:
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Making a deposit, withdrawing funds, applying for a deposit bonus.
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Connection to the platform for copying trades.
Also in the personal account, a trader can perform the following actions:
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Go to the web terminal for trading through the browser of a mobile device or PC.
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Set up trading conditions by adjusting the leverage.
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Change the type of swap account to Islamic.
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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.
Regulation and Safety
OCTA is subject to regulation by several authorities, including the FSCA, MISA, and CySEC, reflecting the diverse regulatory landscape governing the activities conducted by OCTA.
- Octa Markets Cyprus Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18. - Octa Markets Ltd. is authorized and regulated by the Mwali International Services Authority (MISA) with license number HY00623410, and international brokerage and clearing house license number: T2023320. - Orinoco Capital (Pty) Ltd. holds a Financial Service Provider (FSP) license number 51913 from the Financial Sector Conduct Authority (FSCA) in South Africa.
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
- Limited choice of investment solutions to generate passive income.
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| MT4 | From $6 | No |
| MT5 | From $6 | No |
There are no swaps on MT5 and Octatrader 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 - Octa, RoboForex, and Pocket Option. 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 |
|---|---|---|
|
$6 | |
|
$1 | |
|
$8.5 |
Account Types
Octa offers two 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:
You can open a demo account on each of the available trading platforms.
Octa is a broker that offers favorable trading conditions to traders of any experience.
Deposit and Withdrawal
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Octa'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.
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Money can be withdrawn by bank transfer, to Visa cards, through Neteller, Skrill. Withdrawals in cryptocurrency is available.
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Terms of funds crediting. When withdrawing to EPS - up to 5 minutes; to cards - up to 1 hour; and crypto - up to 30 minutes.
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Minimum withdrawal amount: Visa - $20; Skrill and Neteller - $5; and 0.00096000 BTC and 0.00500000 ETH.
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The broker does not charge a commission for deposits or withdrawals.
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Withdrawal and deposit currencies: Bitcoin, Ethereum, Visa cards, Neteller, Skrill, local banks, instant bank transfers, e-wallets in EUR and USD.
Investment Programs, Available Markets and Products of the Broker
Octa 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 Octa 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.
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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.
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The investor has complete control over the trading process. At any time, he can stop copying, unsubscribe or close an unprofitable trade.
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Octa provides super fast copying speed. Trade on the investor's account is copied within 5ms after the master trader has placed a trade order.
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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.
Octa’s affiliate program
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“Invite a friend” - a program that rewards $1 for 1 standard lot traded by the attracted referral, the minimum withdrawal amount is $5;
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"IB" – (Introducing Broker) the partner receives from $3 to $12 depending on the total number of connected clients;
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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. Octa 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.
Customer Support
Live chat operators are in touch every day 24/7
Advantages
- There is an online chat
- You can contact support by phone and via messengers
- Support is available in 13 languages
Disadvantages
- Weekend opening hours are limited
To communicate with the broker, the client can use:
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telephone;
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email;
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online chat;
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instant messaging services Twitter, Telegram, Facebook, Instagram, LinkedIn, TikTok;
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internal tickets of the client terminal.
You can contact technical support representatives from the broker's website and through your personal account.
Contacts
| Foundation date | 2011 |
|---|---|
| Registration address | 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia |
| Regulation |
FSCA, MISA, CySEC
Licence number: 51913, T2023320, 372/18 |
| Official site | https://www.octafx.com/ |
Education
A novice trader will find a lot of useful educational information on the Octa 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.
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.
Comparison of Octa with other Brokers
| Octa | RoboForex | Eightcap | Exness | Forex4you | FxPro | |
| Trading platform |
MetaTrader4, MetaTrader5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5 | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
| Min deposit | $25 | $10 | $100 | $10 | No | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:10 to 1:1000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.6 points | From 0 points | From 0 points | From 1 point | From 0.1 points | From 0 points |
| Level of margin call / stop out |
25% / 15% | 60% / 40% | 80% / 50% | No / 60% | 100% / 20% | 25% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Detailed Review of Octa
Octa has been providing brokerage services for over 11 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. Octa 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:
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More than 12 million open trading accounts.
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More than 500 million completed trades.
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Serving customers from 150 countries.
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Presence of 60 international awards from financial experts in the Forex industry.
Octa is a reliable broker for entering the Forex market
Octa 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. Octa 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, 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 Octa:
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AutoChartist. A free automatic alert service compatible with MT4 and MT5 with over 83% trend prediction accuracy for currency pairs.
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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.
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Analytics. The section includes market information, economic calendar, market analysis, Forex news, interest rates, and a holiday calendar.
Advantages:
You can trade with high leverage. The maximum size is 1:500 for currency pairs.
High-level protection of customer funds and data (personal and payment) is processed through a secure SSL protocol, a license, and segregated accounts.
A platform for copying trades with the ability to control risks is available.
There is high-quality and free analytics such as market analysis, Forex news, and real-time quotes.
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.
User Satisfaction