OctaFX Guide – Read our In-Depth OctaFX Review
OctaFX Rating: 3.66 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
This OctaFX review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this OctaFX review does not apply to users in
If you are a new entrant in the realm of trading and broker, so many facts will be perplexing for you. Getting into the area of trading demands expert analyzing skills and thorough understanding. You'll get adept at all the concepts of brokerage since you continue trading. For starters, you have to choose the ideal broker who will be transparent with you always.
Within this fast-paced world of stock markets and trading, you will need guidance to make correct decisions. A professionally lead investment program will create hefty returns. OctaFX is one such stage that will take you along with your investment into great heights. It is crucial that you know all about OctaFX before you trust them with your money.
OctaFX Guide – Brief Overview
OctaFX Telephone Number:
OctaFX Email Address:
133 HOUNDSDITCH, London, Greater London EC3A 7BX
Financial Conduct Authority (FCA)
St. Vincent and the Grenadines
Number Of Clients:
30,000+ OctaFX users and traders
OctaFX Facebook Likes:
OctaFX Twitter Followers:
OctaFX Instagram Followers:
Losses can exceed deposits
|OctaFX Telephone Number:|
|OctaFX Email Address:||email@example.com|
|OctaFX Address:||133 HOUNDSDITCH, London, Greater London EC3A 7BX|
|Regulated By:||Financial Conduct Authority (FCA)|
|Hedquarters:||St. Vincent and the Grenadines|
|Number Of Clients:||30,000+ OctaFX users and traders|
|OctaFX Facebook Likes:||481,785|
|OctaFX Twitter Followers:||9,807|
|OctaFX Instagram Followers:||103,000|
Losses can exceed deposits
Our entire OctaFX Review covers everything you will need to know about trading with OctaFX. A fantastic broker can multiply your initial investments and provide you positive profits. If you would like to make profits, you must trade with a brokerage service that aligns with your investing objectives.
There's absolutely no sure-fire way to guarantee profits; therefore, you should carefully analyze your broker before you choose them. It is a frequent misconception that all agents will be the same, but that's not true. Wrong judgment, initially, can set your investments in danger.
OctaFX is a broker that has forged its way successfully into the broker world. In this review, we've attempted to collate some of the important aspects of OctaFX. This review can help you to know whether OctaFX is a fantastic match for your investments or not. We've attempted to breakdown all of the qualities and fees for your advantage.
OctaFX Review, Table Of Contents
- Who are OctaFX?
- Benefits Of Trading With OctaFX
- Everything you should know about trading with OctaFX
- Is OctaFX Safe To Trade With?
- OctaFX Risk Disclaimer
- Pro's & Con's Of Trading With OctaFX
- Compare Brokers Similar To OctaFX
- Regulation And Licencing In More Detail
- OctaFX Awards
- Minimum Deposit Required For A Live Account With OctaFX
- OctaFX Commission And Fees Explained
- Compare broker fees against OctaFX
- OctaFX Withdrawal Fees Explained
- OctaFX Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With OctaFX?
- Alternatives To OctaFX
- Frequently Asked Questions About OctaFX
Who are OctaFX?
OctaFX is a forex broker headquartered in St. Vincent and the Grenadines and provides a range of tools for online trading. Since its start in 2014, OctaFX has emerged as a top-tier player in the industry of online brokerage. OctaFX includes an extremely aggressive and full-featured trading site that's focused on currency, indices, metals, stocks , commodities.
Over the past 7 years, OctaFX has grown into one of the leading online brokers.
After establishing in 2014, their client base is becoming as big as 30,000+ clients.
OctaFX is a favourite for many traders because of its negative balance protection. Our OctaFX review found that they're an excellent alternative for automated trading solutions. They're best suited for investors who are searching for a variety of assets. Social and automated trading solutions are the core at OctaFX.
Technology plays a substantial role in OctaFX. OctaFX features trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps. OctaFX is fair, transparent, and a well-regulated agent by the Financial Conduct Authority (FCA). Their outstanding variety of resources will be beneficial for most traders. Third-party partnerships also supply in-house research.
The trader resource section at OctaFX is quite insightful for new dealers since it permits them to get a closer look in the financial markets. OctaFX caters to all types of traders and are a must-have broker for almost any well-diversified method of online trading.
If you feel that OctaFX is not right for you then at the bottom of this OctaFX review you wil find a lot of alternatives to OctaFX.
What you ought to know about trading with OctaFX
OctaFX is a lively platform that provides various techniques of online trading. These instruments cover the monetary markets substantially. Most of the brokerage platforms provide fewer approaches than OctaFX
If you would like to trade with OctaFX, you'll require a minimum deposit of $5. This deposit is compulsory if you want to begin trading using OctaFX. This 2021 OctaFX review will direct you easily about trading with them.
OctaFX is as flexible as another brokerage platform. OctaFX is excellent for traders that want a manageable array of low-cost services. The platforms offered by OctaFX are third-party, white-label offerings. All traders may select out of MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps.
Along with everything, OctaFX has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a trade must be kept open. The brokers offer premium customer service that rewards clients with benefits.
Many less reputable brokers try to pressurise consumers into bigger funding for superior services. OctaFX, on the other hand, is more concentrated on trading volume. Traders can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further benefits will become available.
OctaFX accounts are available globally and provides excellent service everywhere they have customers. There are a few countries where OctaFX accounts are not available. Traders in the following countries cannot open or use a OctaFX account:
Is OctaFX Safe To Trade With?
Launched in 2014, OctaFX has been open for 7 years, they have a head office in St. Vincent and the Grenadines.
OctaFX is regulated by Financial Conduct Authority (FCA). These bodies have rules that make sure that trading platforms have ploicies in place to maintain investor's assets secured. This means that OctaFX users do not need to worry about their money since it's segregated and safely kept in banks that are established. SSL encryption simplifies each user's personal information as well.
You can make use of a choice for 2 Factor Authentications (2FA) with OctaFX for heightened security. An SMS with the confirmation code will be sent to a phone. You will be asked to enter this code to log in to your account.
Another concern with financial brokers with respect to security might be manipulation of trading. This is highly disadvantageous to consumers on these platforms. However, this is much more prevalent in the example of Market Maker brokers who compete with customers on the platform.
OctaFX Risk Disclaimer
Losses can exceed deposits
Pro's & Con's Of Trading With OctaFX
Every online trading platform will have a few ups and downs, and no OctaFX review would be complete without having a balanced approach. This OctaFX review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- OctaFX is trusted by 30,000+ clients
- OctaFX offers Negative Balance Protection
- OctaFX offers Guaranteed Stop Loss
- OctaFX has low minimum deposit requirements
- OctaFX doesn't charge withdrawal fees
- OctaFX doesn't charge inactivity fees
- OctaFX doesn't charge deposit fees
- OctaFX doesn't charge CFD fees
- OctaFX offers social trading
- OctaFX offers copy trading
- OctaFX offer trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps
- OctaFX offer trading instruments
- OctaFX trades major forex pairs
- OctaFX can communicate in English
- OctaFX doesn't trade minor forex pairs
- OctaFX doesn't trade exotic forex pairs
- OctaFX doesn't offer trading on cryptocurrencies
- OctaFX doesn't offer trailing stop
OctaFX Review - Compare Brokers Similar To OctaFX
|Rating||3.66 / 10||5.15 / 10||4.85 / 10||4.46 / 10|
|Headquarters||St. Vincent and the Grenadines||Switzerland||United Kingdom||Cyprus|
|Regulated By||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F229||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F261||Securities and Exchange Commission (SEC)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
OctaFX Review - Regulation And Licencing In More Detail
OctaFX is regulated by Financial Conduct Authority (FCA).
OctaFX, as a company, has a strong set of rules for ensuring honest trading onto its platform. For data encryption functions, it provides an industry-standard secure socket layer (SSL).
In accordance with the organization's privacy regulations, customer data is never to be shared with some other institutions or individuals. This includes credit history and other financial details.
OctaFX Review - AwardsAt the time of writing this OctaFX review, and despite OctaFX’s impressive offering, the company has surprisingly not garnered any other awards to date.
OctaFX Trading Platforms
OctaFX are a professional broker that has been operating for over 7 years. They offer a large range of options in their user accounts.
Below we take the main parts of any reputable brokerage and compare OctaFX with forexite, invest az, and Colmex
OctaFX Review - Minimum Deposit Required
The minimum deposit you must deposit to begin on OctaFX is $5. This is an adequate amount for those just starting out. You can create more complex residue as you go along. However, make certain that you understand how to make the most of your money before investing larger amounts.
OctaFX Review - Commission And Fees Explained
OctaFX is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online brokerages are scaled better. That is, an internet broker is not necessarily affected by the amount of clients they have.
However, this doesn't necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly 3 different types of penalties for this objective.
The first sort of charges to look out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you're charged trading charges. In these cases, you're spending a spread, financing speed, or a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions can be fixed or dependent on the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are those who are charged when you maintain a leveraged position for longer than daily.
Apart from trading fees, online brokers also bill non-trading fees. These are determined by the activities you undertake in your accounts. They are billed for things like depositing money, not trading for lengthy periods, or withdrawals.
In general, OctaFX does not charge high fees in comparison to other online brokers. For operations other agents fee for, they do not charge a brokerage fee, or they charge a smaller sum. This can be beneficial for people who often trade, such as weekly or daily trading.
However, non-trading fees billed by OctaFX are relatively competitive. Consequently, you're billed more for non-trading activities in your trading accounts, such as deposits and withdrawal. These aren't about the purchase and sale of assets.
This OctaFX review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against OctaFX
OctaFX Review - Withdrawal Fees ExplainedOctaFX doesn't charge withdrawal fees
Withdrawal of cash is possible at any time from the OctaFX account. You can withdraw up sums to the sum of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't always have to have any money in your accounts.
In addition, the withdrawn money will be moved directly to the accounts you use to make deposits. Therefore, in the event that you used a credit card for deposits, then the withdrawn cash is going to be sent into the card. OctaFX will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you are withdrawing cash in various currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you're choosing to draw in.
OctaFX Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of those buzzing questions that run through your head when open an account with OctaFX. An inactivity fee is an amount charged to registered traders that have not participated in buying or selling for some time. The period considered inactive is decided by the agent.
The inactivity fee also differs from 1 broker to another and is not generalized. If a traders account doesn't have a buying or selling transaction, it's claimed by the agent as an inactivity fee. The traders have to pay this commission under conditions and terms that they had agreed while enrolling.
OctaFX doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no fees have been implied by OctaFX, it's best for you to close the account if you are inactive. Inactivity fees are not just charged by brokerage firms but also many financial services.
For other trading platforms, the inactivity fee is contingent on the sort of account you've selected. The inactivity fee is exposed to a lot of conditions and needs to be revealed clearly by the agent beforehand.
OctaFX Review - Deposit Fees Explained
When you move money in your trading account from your bank account, a deposit fee can be charged by the broker. Most agents do not charge an excessive amount of money for this operation.
OctaFX doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the OctaFX trading platform is easy. You simply have to complete a single-user profile survey to start depositing money into your trading account. You'll need to give an identity proof and evidence of residency to deposit substantial amounts.
OctaFX Review - Compare Broker Deposit Methods
What Can You Trade With OctaFX?
Note: OctaFX offers many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered can be different depending on the country of residence of the client.
OctaFX has a wide variety of over instruments available for you to trade with.
If trading forex pairs is of interest to you then OctaFX offer over forex pairs.
Compare OctaFX, forexite, invest az & Colmex below.
Reviewing The OctaFX Mobile App
Note: OctaFX's mobile app has a lot of functionality and is being constantly improved. What follows was correct at the time of compiling this OctaFX review.
Understand the capabilities of the mobile apps of OctaFX, forexite, invest az & Colmex below.
Alternatives To OctaFX
If, after reading this OctaFX review, they do not quite meet your requirements check out these OctaFX alternatives.
We've scoured the internet to find the best alternatives to OctaFX. Click the links below to find out more.
Frequently Asked Questions about OctaFX
Can I try OctaFX before I buy?
Yes, you can most definitely try OctaFX before you buy. OctaFX offers demo accounts for the convenience of inexperienced traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you sign up for a demo account on OctaFX, you may set out with a decent amount of virtual money. It is to establish a sense of security and confidence in you until you choose to spend your own money.
With this digital OctaFXdemo account, you can experiment in any way, to whatever period you desire. You can even start positions, test different trading strategies, and much more.
OctaFX specifies on its official website that you can trade real time stocks in a demo account.
Is OctaFX safe?
You can drop all your worries since we believe that OctaFX is totally safe to use. It is in compliance with the principles of Financial Conduct Authority (FCA).
Fortunately, OctaFX does provide assured stop-loss protection.
Why does OctaFX ask for my passport?
The reason that OctaFX asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, OctaFX has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, OctaFX must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with OctaFX?
The process to start trading withOctaFX is perhaps simple enough to be a cakewalk. You need to begin by signing up on the OctaFX website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live account with OctaFX is $5. You should have a good understanding of the details of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with OctaFX.
The best way to kickstart your trading career with OctaFX is to open a demo account facility before risking any real money
What funding methods do OctaFX accept?
There are multiple methods to finance your accounts with OctaFX. The process is effortless and quick, with various payment methods in your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You have to keep in mind that PayPal isn't available in every country. The currencies OctaFX
Is my money safe with OctaFX?
Yes, your cash is safe and secure with OctaFX. As you know, OctaFX works with proper conformation to. It's established plenty of steps to guard all of its own investors.
OctaFX protects its clients' private and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, you can empower Two-Step Verification also. It takes an SMS confirmation that you get your accounts.
Is OctaFX trading good?
Yes, trading through OctaFX is a pleasant and decent experience indeed. It is an excellent and intuitive platform with useful features for your simplicity. Moreover, you could also obtain access to a vast collection of educational tools and assistive substance to kickstart your trading expertise.
If you are still skeptical, you can start a eToro demo account and assess the credibility of the platform on your own.
Which Countries does OctaFX support?
OctaFX operates across the world. However, due to regulations there are some countries that OctaFX cannot accept clients resident in
Is OctaFX legit?
OctaFX is a legit company headquarted in St. Vincent and the Grenadines since 2014. They are regulated by Financial Conduct Authority (FCA). OctaFX is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is OctaFX a good broker?
OctaFX is a great broker, and its users may vouch for it. The highlight of the platform is its fast order execution on transactions.
You'll find the clean layout of the platform and the commendable features a pleasure to work with.
Is OctaFX a trustworthy broker?
Yes, OctaFX is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 30,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for OctaFX?
The minimum deposit to open a live account with OctaFX is $5
How long do OctaFX withdrawals take?
Normally, withdrawal of money from OctaFX is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from OctaFX to show in your bank account.
Are OctaFX regulated?
OctaFX are regulated by Financial Conduct Authority (FCA)
Is OctaFX a market leading broker?
OctaFX is currently among the industry leaders. It has over 30,000+ registered users and over 7 years of experience on its own record. They're one of the world's leading trading platforms and a dominant figure in the Fintech revolution.
It majorly owes this status to its incredible platform and broad range of tools plus resources so that you may put money into capital markets.
Is OctaFX a con?
No, OctaFX is not a con. They are regulated by Financial Conduct Authority (FCA) and must adhere to their rules. Thus, it is safe to say that OctaFX is not a scam.
Can you make money with OctaFX?
Through OctaFX, many traders earn a lot of money. However, on average, through continual trading, you also can create between 2% - 10% profit a month.
This can look like a small number, but within the year, this adds to a significant amount of gains. While OctaFX provide you all of the tools to make money, they cannot guarantee that you will profit.
Does OctaFX have fees?
Yes. To begin trading with OctaFX, you need to deposit $5. Certain commissions while trading additionally apply. Any processing fees from your bank might have to be incurred by you.
When was OctaFX founded?
OctaFX was founded in 2014 in St. Vincent and the Grenadines. OctaFX is regulated by Financial Conduct Authority (FCA).
How many people use OctaFX?
OctaFX is a worldwide recognised agent with 30,000+ customers.
Where is the OctaFX head office?
OctaFX has its head office in St. Vincent and the Grenadines
Does OctaFX offer negative balance protection?
Yes, OctaFX has Negative Balance Protection. It's especially offered while the market volatility prevents clients from letting their account go into the red. In such a scenario, OctaFX provides the ability to reset a clients account balance to zero.
You can go through the important terms and conditions on OctaFX's website to understand their policies.
Does OctaFX offer guaranteed stop loss?
Yes, OctaFX offer a guaranteed Stop Loss order.
If there's absolutely no free margin left with the customer, OctaFX will stop your positions. When the losses in the stopped out location exceeds your account balance, you may encounter a negative account balance.
Does OctaFX allow scalping?No, the stipulations of OctaFX do not condone scalping. It's a trading technique which is not allowed on the broker's platform. You have to consult with OctaFX's provisions and conditions to see more about its policies.
Does OctaFX allow hedging?
No, unfortunately OctaFX does not allow hedging.
Can you trade energies with OctaFX?
Yes, you can trade energy stocks with OctaFX
Can you trade agricultural shares with OctaFX?
No, unfortunately you cannot trade agricultural stock with OctaFX
Can you trade cryptocurrency with OctaFX?
No, unfortunately you cannot trade cryptocurrency with OctaFX
Can you trade metals with OctaFX?
Yes, you can trade metals with OctaFX
Can you trade UK Shares with OctaFX?
No, unfortunately you cannot trade UK shares with OctaFX
Can you trade US Shares with OctaFX?
No, unfortunately you cannot trade US shares with OctaFX
Can you trade Japanese Shares with OctaFX?
Yes, you can trade Japanese shares with OctaFX
Can you trade German Shares with OctaFX?
Yes, you can trade German shares with OctaFX
Does OctaFX accept bank transfers?
Yes, OctaFX accepts bank transfers for depositing money.
Does OctaFX accept credit cards?
Yes, OctaFX accepts credit cards for depositing money.
Does OctaFX accept PayPal?
No, OctaFX does not accept PayPal.
Does OctaFX accept Skrill?
No, OctaFX does not accept Skrill.
Does OctaFX accept Payoneer?
No, OctaFX does not accept Payoneer.
Does OctaFX accept Neteller?
Yes, OctaFX accepts Neteller for depositing money.
Does OctaFX offer Live Chat customer support?
Yes, OctaFX offers customer support through live chat.
Does OctaFX offer phone customer support?
Yes, OctaFX offers customer support over the telephone.
Does OctaFX offer email customer support?
Yes, OctaFX offers customer support through email.
What languages can OctaFX communicate in?
OctaFX has the ability to communicate and support customers who speak: English
Does OctaFX have a wikipedia page?
No, OctaFX does not have an official wikipedia page.
Does OctaFX offer demo accounts?
Yes, OctaFX offers virtual portfolio accounts so you can test your trading strategies before risking any real money. New traders can open a demo account in order to become better acquainted with the areas of Forex trading and test out some of the company’s features before getting a live account.