OctaFX Rated 1/5

OctaFX Guide - Read our In Depth 2021 OctaFX Review

Warning we have sent emails, messages and phone calls to OctaFX and have had no response.

This OctaFX review was written by industry experts with over 20 years of financial experience in Forex.
The content in this OctaFX review does not apply to US users.

Benefits of Trading with OctaFX

OctaFX Review 2021 Quick Summary
💰 Min Deposit 5
👱‍♂️ Used By 30,000 OctaFX users and traders
📆 Founded 2011
🌍 HQ St. Vincent and the Grenadines
👮‍♂️ Regulation Financial Conduct Authority (FCA)
🚫 Excluded Countries OctaFX is not available in the following countries : US

Open OctaFX's Website

Losses can exceed deposits


learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is OctaFX?

OctaFX are a global online financial trading platform and multi asset broker founded in 2011

Over 10 years later OctaFX has grown to offering retail investors Forex trading.

OctaFX are a global broker. OctaFX have a head office in St. Vincent and the Grenadines.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this OctaFX review and assess how well the OctaFX platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like OctaFX can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of OctaFX we breakdown the pros and cons. What OctaFX are able to offer, what countries OctaFX are available in. Who OctaFX are regulated by and more.

OctaFX Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this OctaFX review useful.

This review of the OctaFX platform is very detailed. If you are interested in trading with OctaFX in any capacity please take the time to read and research the whole OctaFX review.

We have tried to explain the ins and outs of financial trading through the OctaFX platform as plainly as possible so that you the trader are as informed as possible before you start to use the OctaFX trading tools and depositing and withdrawing funds from OctaFX.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with OctaFX like Forex trading. you should have confidence in OctaFX and know that the management of your financial investments on the OctaFX platform are in good hands.

At the bottom of this OctaFX review you can also learn about some pretty good alternatives to OctaFX

With this OctaFX review we hope to help you see if OctaFX is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding OctaFX that will help you get off to a good start in the world of online trading.

OctaFX Review Table of Contents

OctaFX review
OctaFX is a Multi-Assets Trading Platform with over 50+ Assets

Learn more about OctaFX. OctaFX is a multi asset platform with 50+ tradable Assets. Assets available on OctaFX include Forex.

OctaFX trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex are considered financial assets.

Features of OctaFX

OctaFX review
What you should know

OctaFX offer one way to trade: Forex.

With OctaFX you will need a minimum deposit of $5. You can sign up for a demo account to acquaint yourself with OctaFX platform.

OctaFX are able to accommodate various levels of traders whether you are experienced or a beginner.

Are OctaFX safe?

When choosing a broker like OctaFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2011, and in operation for 10 years OctaFX have a head office in St. Vincent and the Grenadines.

OctaFX is regulated. This means OctaFX are supervised by and is checked for conduct by the Financial Conduct Authority (FCA) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to OctaFX, this will be honored. If OctaFX violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with OctaFX?

Any payments funded to OctaFX accounts by traders are held in a segregated bank account.

For added security OctaFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should OctaFX use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in OctaFX deposited in a Tier 1 bank?

Having any money you deposit with OctaFX means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if OctaFX goes out of business for some reason.

Therefore, we can safely conclude that OctaFX is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. OctaFX also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regrding OctaFX. let us look at the OctaFX features in more detail.

Try creating two accounts when you are working with OctaFX. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit OctaFX

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How OctaFX as a Company Compare Against Other Brokers

Broker OctaFX eToro XTB IC Markets
Year Established 2011 2007 2002 2007
Head Office St. Vincent and the Grenadines Cyprus, UK Poland Australia
Regulation Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 30,000+ OctaFX users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss Yes No No No
Learn More Visit OctaFX Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

OctaFX review
OctaFX Pros and Cons

What we like about OctaFX

  • Used by over 30,000 OctaFX users and traders
  • Established in 2011
  • Regulated by Financial Conduct Authority (FCA)
  • Min. deposit from $5

What we don't like about OctaFX

OctaFX review
OctaFX Regulation and Licensing in more detail

We have checked and OctaFX is regulated and supervised by reputable organisations. You are able to check every OctaFX supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with OctaFX. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect OctaFX traders and provide a safe trading environment. Financial regulation and license approval is essential.

OctaFX is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as OctaFX you should be sure they're legitimate online agent.

Is OctaFX Global?

Yes, OctaFX is global as OctaFX is available in over 194 countries.

OctaFX is a global trading platform in the sense that it operates in 194 countries including nations in Europe, Asia, Oceania, and Africa. Major countries OctaFX covers include the UK, Germany, Australia, South Africa, Thailand, and China. OctaFX has a total of more than 30,000 users.

OctaFX review
OctaFX Awards

OctaFX have won numerious industry awards over the 10 years they have been operating as a financial broker. We list the most notible awards and mentions for OctaFX below.

  • Fx Daily Info Best ECN/STP Broker 2019
  • Fx Daily Info Best Forex Broker Asia 2019
  • Global Banking and Finance Review Best Forex Broker Asia 2018
  • European CEO Magazine Best FX Broker 2018
  • European CEO Magazine Best Trading Conditions 2018
  • Forex Awards Best Copy trading Platform 2018
  • Forex Awards Best Trades Execution 2017
  • European CEO magazine Best Trading Conditions 2017
  • UK Forex awards Best Forex ECN Broker 2017
  • European CEO magazine Most Transparent Broker 2017
  • Forex Report Magazine Best Trading Conditions 2016
  • FX Empire Best International Broker 2015
  • Forex Traders Best Islamic Account Forex Broker 2015
  • European CEO magazine Best STP Broker 2015
  • FX Empire Most Reliable Broker 2014
  • Global Banking and Finance Review Best ECN Broker Asia 2014
  • World Finance magazine Best Broker Central Asia
  • Global Banking and Finance Review Fastest Growing Micro Forex Broker 2012

OctaFX review
OctaFX Fees Explained

  • OctaFX doesn't charge withdrawal fees
  • OctaFX does not charge a fee for inactive accounts.
  • OctaFX doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How OctaFX Fees Compare Against Other Brokers

Broker OctaFX eToro XTB IC Markets
Min Deposit 5 50 0 200
Withdrawal Fees No Yes varies No
Inactivity Fees No Yes Yes No
Deposit Fees No No No Varies
CFD Commission Fees No Yes Yes Yes

OctaFX Minimum Deposit

OctaFX require a minimum desposit of 5 GBP/USD when opening an OctaFX trading account.

A minimum deposit is the minimum amount of money required by OctaFX to open a new online brokerage account with them.

Dont be scared off by brokers like OctaFX charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

OctaFX Withdrawal Fees

OctaFX doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

OctaFX for example allow you to withdraw your funds to Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, FasaPay.

OctaFX Inactivity Fees

OctaFX does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

OctaFX Desposit Fees

OctaFX does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

OctaFX Commission Fees

OctaFX does not charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

OctaFX review
What can you trade with OctaFX?

Be aware that Different entities under OctaFX Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with OctaFX over 50 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets OctaFX offer over currency pairs.

Compare OctaFX with eToro and XTB below.

Losses can exceed deposits

How OctaFX Trading Options Compare Against Other Brokers

Broker OctaFX eToro XTB IC Markets
Instruments Available 50 2000 4000 232
Platforms MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies        
Forex pairs offered 50 57 65
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes
Exotic Forex pairs Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 21 19
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 2042 1696 110
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit OctaFX
Losses can exceed deposits
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

OctaFX review
Trading on OctaFX web platforms and other applications

OctaFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

OctaFX is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

OctaFX also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See OctaFX's platforms

Is the OctaFX Trading Platform Secure?

OctaFX safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. OctaFX also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating OctaFX.

OctaFX Trading Platform Options

Once you have logged into your OctaFX account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • cTrader

Lets explore each of these trading platforms in detail and what options OctaFX gives you.

OctaFX review
OctaFX MetaTrader 4 (MT4)

OctaFX MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with OctaFX. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with OctaFX in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. OctaFX MetaTrader 4 is compatible with the latest macOS Mojave. OctaFX allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on OctaFX

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade OctaFX MetaTrader 4 on IOS Devices

You can download the OctaFX app or also trade with OctaFX through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. OctaFX customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade OctaFX MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. OctaFX provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android OctaFX MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade OctaFX MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

OctaFX MetaTrader 4 Advanced Trading Tools

The OctaFX advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. OctaFX offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade OctaFX MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

OctaFX MetaTrader 4 & MetaTrader 5 AutoChartist

OctaFX Autochartist provides the world's first Market Scanner available for MT4 & MT5 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

OctaFX review
OctaFX MetaTrader 5 (MT5)

OctaFX MetaTrader 5

MetaTrader 5 also known as MT5 is a multi asset trading platform that provides a wide range of trading features and financial research tools, MT5 also allows the use of automated trading systems (trading robots) and copy trading. New features like additional timeframes and advanced charting tools can give you a competitive advantage in the financial markets.

MetaTrader 5 was released in 2010 and is the updated version of MetaTrader 4.

MetaTrader 4 was built specifically to trade Forex and CFDs, MetaTrader 5 on the other hand facilitates trading of Forex, Futures, Stocks, Algorithmic Trading, ETFs and Indices.

You can learn more about the MT5 Platform here. You can also learn more about the differences between MT5 and MT4 here.

Trade OctaFX MetaTrader 5 WebTrader

Access your OctaFX MetaTrader 5 accounts from any web browser. It features a huge range of tools like additional timeframes and the most up to date technical indicators to give you all the trading resources you need to trade on and analyse the financial markets.

OctaFX review
OctaFX MT5 Buying and Selling

IC Markets MetaTrader 5 Buying and Selling

OctaFX MetaTrader 5 on IOS Devices

OctaFX MetaTrader 5 Can Operate on the and newer IOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. It's suggested that you upgrade the IOS MetaTrader 5 app regularly. New versions provide improved functionality and increased stability. OctaFX MetaTrader 5 allows traders to look at market statistics of financial instruments traded in the market execution mode.

OctaFX MetaTrader 5 on Android Devices

MetaTrader 5 for Android may be used on a Android smartphone or a tablet powered by the Android 5.0 or higher operating system. Additionally, to connect to OctaFX trading server. Take the time to understand all of the Android MetaTrader 5 features. With Metatrader 5 for Android you can trade a selection of financial instruments at any time, in any place.

OctaFX Metatrader Mobile Application Features

MetaQuotes the developers of Metatrader have listened to the feedback of their millions of users and have built the most popular mobile trading platform in the world. MetaTrader features include :

  • Financial instrument quotes
  • View in depth price charts of financial instruments
  • Manage trades and open positions
  • View your trading history
  • View market news
  • MetaTrader internal messaging
  • View and research market statics of OctaFX financial instruments
  • Position opening and closing
  • Lookup symbols in the quotes section
  • Display of deals on graphs
  • Timeframe selection for graphs and charts
  • Additional vertical scaling of graphs
  • Capability to transfer accounts to other devices using QR codes
  • Information is available only if it's supplied by OctaFX
  • Access the OTP generator through FaceID or fingerprint

OctaFX MetaTrader 5 Advanced Trading Tools

OctaFX MetaTrader 5 has many advanced trading tools for the more advanced users. Understanding these tools can give you a competitive edge.

  • Depth of market bids and asks
  • Price Data
  • Margin Calculation, Futures, Forex
  • Advanced Techincal Analysis
  • One click trading
  • Spreads
  • Futures
  • Trading Reports

OctaFX review
OctaFX cTrader

OctaFX cTrader

CTrader is a comprehensive trading platform solution for Forex and CFD brokerages to provide to their traders. The platform is packed with a complete variety of features to cater to each and every investment taste imaginable.

The cTrader Premium Charting and Manual Trading Platform available on OctaFX

cTrader is a top multi-asset Forex and CFD trading platform. cTrader offers advanced order types, charting tools, amount II pricing, and quick entry and execution. Using a amazing looking layout and dashboard, it is linked to state of the art infrastructure, that can be accessed from many devices.

IC Markets cTrader

cTrader Copy available on OctaFX

CTrader Copy empowers everyone on the platform to share their investment strategy and to share their trading strategy for a fee or commission. Other dealers can search and replicate the approaches available, and revel in a commitment-free investing. Furthermore, traders can use their own risk management configurations.

IC Markets cTrader Copy Trading

cTrader Automate available on OctaFX

CTrader Automate provides traders the ability to create algorithmic trading robots to automate financial trading plans. Dealers can use cTrader's contemporary C# API to write code within the IDE, the IDE allows developers optimize and test their financial robots.

cTrader Open API available on OctaFX

Build your own software using cTraders Open API. It is a free, secure and publicly available API for all. Developers can take advantage of cTraders mature infrastructure to construct desktop, mobile and online software. The open API allows developers to interact and interface with any cTrader account.

You can learn more about the cTrader Platform Here.

OctaFX Trading benefits

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

OctaFX Trading Accounts Offered

Below we give an overview on the account types that OctaFX offer. Whatever you are looking to trade the varying OctaFX account types will be able to provide you with what you need.

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • STP account
  • Islamic account

Can I try OctaFX before I buy?

OctaFX offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

OctaFX withdrawal and funding methods

Please note that the list of OctaFX payment methods below depend on the OctaFX Entity and the Clients Country of Residence.

All available OctaFX payment methods available to you can be found in your OctaFX members area checked on the OctaFX website.

OctaFX offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about OctaFX

OctaFX Payment Methods

  • OctaFX accepts Credit cards
  • OctaFX accepts VISA
  • OctaFX accepts MasterCard
  • OctaFX accepts Debit cards
  • OctaFX accepts Bank Transfer
  • OctaFX accepts Electronic wallets (eWallets)
  • OctaFX accepts Neteller
  • OctaFX accepts Skrill
  • OctaFX accepts Fasapay
  • OctaFX accepts UnionPay
  • OctaFX accepts Bitcoin
  • OctaFX accepts BCA
  • OctaFX accepts Mandiri
  • OctaFX accepts BNI
  • OctaFX accepts BRI
  • OctaFX accepts FasaPay
Broker OctaFX eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes Yes No
Neteller Yes Yes Yes Yes

*please note available OctaFX and other broker payment methods depend on the clients country of residence.

How can I start trading with OctaFX?

When opening a trading account with OctaFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on OctaFX trading platforms here. You will need to provide some basic documentation to prove your identity as part of OctaFX onboarding and normal KYC identity checks. These checks are standard practice and help OctaFX provide a safe financial environment for their 30,000 users.

Losses can exceed deposits

Performing trades with OctaFX

OctaFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. OctaFX allow you to execute a maxium trade of 10 Lot. As OctaFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

CFD Trading on OctaFX

let's take a look at some of the basics of using OctaFX leverage.

OctaFX offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

OctaFX leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the OctaFX trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The OctaFX leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

OctaFX CFDs are typically used for short to medium term trades. For example OctaFX intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Limiting Your Risk When Trading with OctaFX Negative Balance Protection

We should say something about negative balance protection with OctaFX. When trading using leverage an adverse move could result in losing more than your trading account balance at OctaFX. If your broker is regulated by the FCA Negative Balance Protection should be set in place by your broker as standard. Your OctaFX account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Education resources at OctaFX

To trade effectively with OctaFX, it's important to get a have a good understanding of the OctaFX trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with OctaFX and externally.

OctaFX offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with OctaFX.

Take time to look around the OctaFX platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at OctaFX

As part of our OctaFX review we review customer service options, response times and OctaFX trading platform problem resolution effectiveness.OctaFX support a limited number including English.

OctaFX have a triple AAA grade support and customer service rating because they offer a wide range of languages, live chat, email and phone support.

OctaFX customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Your customer service experience with OctaFX has to be a positive one for you to effectively trade the financial markets on the OctaFX platform. OctaFX should make sure all of your questions are answered and your OctaFX platform issues solved. When a OctaFX customer has any queries regarding OctaFX the OctaFX customer support team should take these issues seriously and offer a quick and effective solution. OctaFX have a great client support team, which is why we have rated their customer service highly.

Livechat Support at OctaFX

OctaFX does not offer LiveChat Support.

Email Support at OctaFX

We sent several emails to OctaFX and answer times overall were excellent. The fastest response from OctaFX was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with OctaFX, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from OctaFX.

Phone Support at OctaFX

We called OctaFX and the call was answered very quickly. The call was answered in less than 1 minutes.

The OctaFX phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual OctaFX team by calling in varying languages. OctaFX made an effort to make sure our queries were answered.

Overall great phone support from OctaFX.

See how OctaFX Support Compares Against Other Brokers

Broker OctaFX eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English English, German, Spanish, French, Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit OctaFX Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

What you will need to open an account with OctaFX

As OctaFX is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under OctaFX Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore OctaFX's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with OctaFX you can visit the OctaFX trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.octafx.co.uk/ on October 17, 2021.

Watch this OctaFX Explainer Video

Is OctaFX A Good Broker?

We spent over 3 months examining OctaFX in depth. Although we found some very useful aspects of the OctaFX platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative OctaFX broker.

  • OctaFX have a good track record of offering Forex.
  • OctaFX has a history of over 10 years.
  • OctaFX has a reasonable sized customer support of at least 10.
  • OctaFX are regulated by the Financial Conduct Authority (FCA). This means OctaFX fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • OctaFX have regulation from Tier 1 reputable regulators.
  • OctaFX has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • OctaFX have an international presence in multiple countries. This includes local OctaFX seminars and training.
  • OctaFX are able to hire people from various locations in the world who can better communicate in your local language.

OctaFX Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

OctaFX not quite right?

If after reading this OctaFX review, OctaFX does not fulfill your needs check out these OctaFX Alternatives.

Click here to view the best OctaFX Alternatives

We have spent years researching the best alternatives to OctaFX. Click the links below to learn more.

If you feel some of the above OctaFX are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of OctaFX alternatives below.

Related OctaFX Vs Comparisons

We have covered allot in this OctaFX review, If you want to see how OctaFX compares side by side with other brokers check out our OctaFX Vs pages.

If you would like to see how OctaFX stands up against other brokers you can read some of our OctaFX comparisons below. We compare side by side some of our top rated OctaFX versus comparisons. Read our indepth OctaFX VS pages below.

OctaFX review
OCTAFX Frequently Asked Questions

Read our detailed OctaFX FAQ Section updated for 2021.

Can I try OctaFX before I buy?

OctaFX offer a demo account so you can try the OctaFX platform with virtual trading before you put down a payment. Virtual trading with OctaFX is zero risk. Learn more here

What funding methods do OctaFX accept?

Please note that the list of payment methods below depend on the OctaFX Entity and the Clients Country of Residence.

OctaFX offer the following funding payment methods Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, FasaPay, among other payment methods.
Learn more here

Losses can exceed deposits

Is OctaFX safe?

OctaFX are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA). Any payments funded to OctaFX accounts by traders are held in a segregated bank account. For added security OctaFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Losses can exceed deposits

Is OctaFX trading good?

OctaFX is considered good and reputable to trade with OctaFX. OctaFX is used by over 30,000 active traders and OctaFX users. OctaFX offers Forex trading. Minimum deposit with OctaFX is 5.

Is OctaFX trading Legit?

OctaFX was founded in St. Vincent and the Grenadines in 2011. OctaFX has been facilitating trade on the financial markets for over 10 years. OctaFX offers clients Forex trading. All funds deposited to OctaFX are held in segregated tier 1 bank accounts for security. OctaFX is regulated by Financial Conduct Authority (FCA) so can be considered legit.

Is OctaFX a good broker?

OctaFX is overseen by the top tier financial regulators Financial Conduct Authority (FCA) so can be considered a good broker. OctaFX allows Forex trading.

Is OctaFX trustworthy broker?

OctaFX can be considered trustworthy. All money funded to OctaFX is placed into a segregated tier 1 bank account. this means your money in not held by OctaFX directly by a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also OctaFX is regulated by Financial Conduct Authority (FCA).

What is the minimum deposit for OctaFX?

The minimum deposit to trade with OctaFX is 5.

How long do OctaFX withdrawals take?

Withdrawing money from OctaFX processing time varies but averages 2-5 days.

Is OctaFX regulated?

OctaFX is regulated by the Financial Conduct Authority (FCA). Regulatory bodies conduct regular reviews and audits as part of OctaFX maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is OctaFX a market maker?

OctaFX is a market maker. Stocks, currency and other commodities and instruments will be purchased by OctaFX even if no buyer is lined up.

How can I start trading with OctaFX?

When opening a trading account with OctaFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on OctaFX trading platforms here.

Is my money safe with OctaFX?

OctaFX is regulated by the Financial Conduct Authority (FCA). One of the most important criteria for traders when choosing a broker like OctaFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to OctaFX, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is OctaFX a con?

OctaFX is regulated and well established having been in business for over 10 years. OctaFX is definitely not a con.

Can you make money with OctaFX?

Although traders have had great success with OctaFX. Trading on the financial markets with OctaFX is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does OctaFX have fees?

OctaFX doesn't charge withdrawal fees. OctaFX doesn't charge inactivity fees. OctaFX doesn't charge deposit fees.

When was OctaFX founded?

OctaFX was founded in 2011.

How many people use OctaFX?

OctaFX is used by over 30,000 registered OctaFX users.

What is OctaFX Headquarters country?

OctaFX has its head quarters office in St. Vincent and the Grenadines.

Does OctaFX offer negative balance protection?

OctaFX offers negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does OctaFX offer guaranteed stop loss?

OctaFX offers guaranteed stop loss protection. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does OctaFX allow scalping?

OctaFX offers scalping.

Does OctaFX allow hedging?

OctaFX offers hedging.

Does OctaFX offer CFD trading?

OctaFX offers CFD trading.

Does OctaFX offer STP?

OctaFX offers STP trading.

How many people use OctaFX?

OctaFX is used by over 30000 OctaFX users and traders.

Is OctaFX an ECN broker?

OctaFX does not offer ECN trading.

Does OctaFX offer a demo account?

OctaFX offers a demo account.

Does OctaFX offer an Islamic account?

OctaFX offers a Islamic accounts.

What are the funding methods for OctaFX?

Please note that funding methods and funding options available with OctaFX can be found in the OctaFX Members area and depend on the OctaFX client’s country of residence. Please check your specific available payment methods on the OctaFX website. OctaFX accept the following funding methods : Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, FasaPay.

OctaFX review written by Andrew Blumer and Mark Hansen

We hope you found our review of the OctaFX brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

OctaFX review written by Mark Hansen of Comparebrokers.co