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OCTAFX Review 2023

Platforms and Tools
Customer Support
Tradable Instruments
Account Types and Terms
Deposit and Withdrawal
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Please note: We performed our tests with a live account, using the MetaTrader 5 platform, opened with the OctaFX Saint Lucia entity (Octa Markets Inc.). Some features and services may vary depending on where you reside.

The Big Picture

Founded in 2011, OctaFX is a multi-asset CFD broker headquartered in St. Vincent and the Grenadines. According to the company website, over 21 million trading accounts across 180 countries have been opened with OctaFX.

The broker provides access to 230 CFDs on forex, commodities, shares, indices, and cryptocurrencies via MetaTrader 4, MetaTrader 5, and the in-house OctaTrader platform. Two main account types, OctaFX MT4, and OctaFX MT5, cater to different trader profiles.

OctaFX operates through two corporate entities. Octa Markets Inc., the global entity, is registered in Saint Lucia. The EU entity, Octa Markets Cyprus Ltd., is regulated by the highly regarded Cyprus Securities and Exchange Commission (CySEC). OctaFX ensures the segregation of client funds from company funds and provides negative balance protection for client accounts, as stated on their website.

OctaFX Key Takeaways in 2023

  • OctaFX got a weak score in our trust category since the global (offshore) entity is unregulated.
  • Fees are an area of OctaFX’s strength, as I recorded tight spreads in most instruments and found that the broker does not charge swap fees or inactivity fees.
  • OctaFX excelled in research with high-quality, frequently updated analysis, as well as a selection of valuable tools.
  • The range of available instruments has improved since my last review and traders can now access CFDs on all major asset classes including shares.
  • I experienced great customer service at OctaFX. Agents are available 24/7 and response times were consistently lightning-fast in my tests.

What Sets OctaFX Apart from Other Brokers?

OctaFX has competitive spreads in some instruments such as EUR/USD and impressive research written by in-house analysts. Third-party tools such as AutoChartist are also available. Moreover, OctaFX is a crypto-friendly broker – traders can choose from 30 CFDs on cryptocurrencies and make deposits and withdrawals in crypto.

What types of traders will OctaFX fit the best?

With demo accounts, the ability to trade in micro-lots, copy trading, and strong educational resources, I rate OctaFX as a suitable broker for beginners. Experienced traders can take advantage of the advanced features in the MetaTrader platform, such as automated trading. There is also the possibility of earning extra money as a Master Trader within the copy trading platform.

OctaFX Pros and Cons

Pros Cons
  • Tight forex spreads.
  • Good research materials.
  • 24/7 customer support
  • No inactivity and swap fees.
  • Free deposits and withdrawals.
  • Broad range of CFDs on cryptocurrencies.
  • The offshore entity is unregulated.
  • No phone support.

    Forex margin trading involves substantial risks


    About the Author

    Dan Blystone
    Starting his career in finance on the floor of the Chicago Mercantile Exchange, Dan later gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. Dan also traded at a couple of different prop trading firms in Chicago.
    Read More

    How Do We Rate?

    When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
    How Do We Rate Chart
    Visit our methodology page to learn more about our review and rating process.
    OCTAFX Main Features
    CySEC (Cyprus), SVG FSA (Saint Vincent and the Grenadines)
    Supported Languages
    English, Spanish, German, Portuguese, Hindi, Chinese, Malaysian, Indonesian, Urdu, Thai, Vietnamese
    Products (CFD)
    Currencies, Commodities, Indices, Stocks, Crypto
    Min Deposit
    Max Leverage
    1:30 (CySEC ), 1:500 (SVG FSA)
    Trading Desk Type
    ECN, STP
    See More
    Check if...
    unknownOCTAFX accepts clients from your country:
    Choose your country:

    Forex margin trading involves substantial risks

    OCTAFX Full Review


    How Do We Test A Broker's Trust?
    When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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    The trust score came in low, largely due to the fact that the Octa Markets Inc. entity is unregulated. However, the European entity of OctaFX is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC). According to the broker’s website, clients have negative balance protection, and client funds are segregated from the company’s operating funds. I rated the level of transparency at OctaFX as mixed.

    This section will cover how the different entities of OctaFX are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

    • Octa Markets Inc. (OctaFX) is registered in Saint Lucia under business reg. number 2023-00092. OctaFX activity is supervised by the authorities of Saint Lucia.
    • Octa Markets Cyprus Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18. We rate CySEC as a Tier-1 regulator.
    OctaFX on the CySEC website
    OctaFX on the CySEC website

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. For example, OctaFX clients in the European Union benefit from the oversight of the Cyprus Securities and Exchange Commission (CySEC). CySEC requires that clients have negative balance protection, which means they cannot lose more than their deposit.

    In addition, when trading with a broker authorized by CySEC, client funds are protected by the Investor Compensation Fund (ICF). ICF protects client accounts for up to €20,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits.

    The table below lists the protections and benefits by entity, regulator, and region.

    Entity Octa Markets Cyprus Ltd Octa Markets Inc.
    Country/Region European Union Global
    Regulation Cyprus Securities and Exchange Commission Registered, regulated, and governed by the law of Saint Lucia
    Segregated Funds Yes Yes
    Negative Balance Protection Yes Yes
    Compensation Scheme ICF Up to €20,000 No
    Maximum Leverage  1:30 1:500

    Regulatory requirements are subject to change. We gathered the data listed above in June 2023.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker has been in business, what is the company size, and how transparent the broker overall.

    Launched in 2011, OctaFX has a substantial operating history. According to the company’s LinkedIn page, Saint Vincent and Grenadines-based broker has over 51-200 employees, reflecting a medium-sized brokerage firm.

    The EU entity of OctaFX clearly states its regulatory status in the website’s footer. The offshore entity also references its corporate registration number with the Saint Lucia authorities at the bottom of each page. However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity.

    Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. Overall, I rate OctaFX as having a mixed level of transparency.


    How Do We Test A Broker's Fees?
    Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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    OctaFX excelled in the category of fees, with tight spreads in CFDs on forex and shares. It also bucks the industry trend by not charging swaps or inactivity fees. For both trading accounts (OctaFX MT4 and OctaFX MT5), all fees are reflected in the spread—there are no additional commissions charged.

    Trading Fees

    I tested the spreads at OctaFX across different assets using the MetaTrader 5 platform at 8:00 a.m. GMT and 4:00 p.m. GMT on 19 June 2023.

    Measuring spreads at different times of the day allows for greater perspective: 8:00 a.m. GMT is the London open when there is high liquidity in the forex market. 4:00 p.m. GMT is during the New York trading session.

    Instrument Spread AM Spread PM
    EUR/USD 1 Pip 0.8 Pip
    GBP/JPY 1.4 Pips 1.2
    Gold  23 Pips 22 Pips
    Light Crude Oil  7 Pips 8 Pips
    Apple n/a 18 cents
    Tesla n/a 27 cents
    Dow 30 4 Pips 4 Pips
    Dax 40 2 Pips 2 Pips
    Bitcoin $14.67 $16.35

    Swap Fees

    OctaFX does not currently charge swap fees – the charge for holding leveraged positions overnight.

    Non-Trading Fees

    OctaFX does not charge an inactivity or account maintenance fee.

    Are Fees at OctaFX Competitive?

    I rated fees at OctaFX as competitive for the following reasons:

    • I experienced highly competitive spreads in forex, gold, and shares. Indices were closer to the industry average.
    • Unlike most CFD brokers, OctaFX does not charge swap fees.
    • OctaFX does not charge commissions on CFDs on shares (or any other instrument).
    • OctaFX does not charge any inactivity or account maintenance fees.

    Platforms and Tools

    How Do We Test A Broker's Platforms and Tools?
    Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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    OctaFX offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile. These platforms provide robust charting and a wide range of order types and enable automated trading. The web-based OctaTrader platform is a beginner-friendly and convenient alternative.

    MetaTrader 5 Desktop

    In the hands-on testing process, I used MetaTrader 5 for desktops, which includes advanced functions such as copy trading and automated trading.

    MetaTrader 5 Desktop Platform
    MetaTrader 5 Desktop Platform

    MetaTrader 5 is available in 52 languages, from Arabic to Vietnamese. The platform provides popular features such as

    • Alerts. This feature updates traders when an instrument reaches a specific price level.
    • Watchlists. Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
    • One-Click Trading. This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster and is especially useful for short-term traders.
    • Trading from the Chart. MT5 also allows users the convenience of trading directly from the chart.

    MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

    • Market Order. Traders use market orders to buy or sell an instrument at the best current price.
    • Limit Order. Traders use limit orders to buy or sell an instrument at a specified price or better.
    • Stop Loss Order. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
    • Stop Limit Order. Traders can manage risk more precisely with stop limit orders, which combine the features of a stop-loss with those of a limit order.
    • Trailing Stop Order. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. This order type allows traders to secure profits when they are in a winning trade while not having to exit the position.
    Order Entry on the MetaTrader 5 Platform
    Order Entry on the MetaTrader 5 Platform

    Charting features are robust. MetaTrader 5 offers:

    • 38 Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
    • 44 Analytical Objects. These include lines, channels, Gann, and Fibonacci tools.
    • 21 Time Frames. Traders can choose from nine time frames, from one minute to one month.
    • 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.
    Charting on the MetaTrader 5 Platform
    Charting on the MetaTrader 5 Platform

    MetaTrader is also popular due to its copy trading and automated trading features.

    • Trading Signals. Signals in MetaTrader 5 allow users to copy other traders’ activity in real time.
    • Automated Trading. MetaTrader 5 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms.

    The MetaTrader 5 desktop platform is one of the most feature-rich and popular trading platforms. However, it may present a steep learning curve for beginners.

    MetaTrader 5 Web

    The MetaTrader 5 Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform. It allows you to trade without any additional software, only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system.

    OctaFX MetaTrader 5 Web Platform
    OctaFX MetaTrader 5 Web Platform

    Popular features include

    • One-click trading
    • Trading from the chart
    • Watchlists with real-time quotes
    • Trade History
    • Advanced charting with 30 indicators for technical analysis

    Copy and automated trading are only available on the MT5 desktop platform.

    MetaTrader 5 Mobile App

    OctaFX offers the MetaTrader 5 mobile app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart.

    OctaFX MetaTrader 5 Mobile App
    OctaFX MetaTrader 5 Mobile App

    The MetaTrader 5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT5 app offers an above-average range of features.

    MetaTrader 4 vs. MetaTrader 5

    OctaFX offers both MetaTrader 4 and MetaTrader 5. MT5 provides a greater number of technical indicators, timeframes, and graphical objects. It also has additional features such as an economic calendar. The table below highlights the main differences.

    Feature MetaTrader 4 MetaTrader 5
    Technical Indicators 30 38
    Charting Time Frames 9 21
    Analytical Objects 31 44
    Pending Order Types 4 6
    Platform Languages 39 52
    Economic Calendar No Yes
    Strategy Tester Single-threaded strategy tester Multi-threaded strategy tester*

    *The multi-threaded strategy tester in MT5 allows traders to backtest a trading strategy on multiple financial instruments simultaneously.

    Economic Calendar within the MT5 Desktop Platform
    Economic Calendar within the MT5 Desktop Platform

    OctaTrader Platform

    The web-based OctaTrader platform is well-designed and intuitive. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform.

    Robust charting is provided by TradingView, featuring 11 time frames, 11 chart types, and over 100 technical indicators. Various drawing tools, from trend lines to Fibonacci retracements, are also available.

    OctaTrader Platform
    OctaTrader Platform

    OctaTrader can be used in the following languages: English, Hindi, Urdu, Spanish, Arabic, Malay, Indonesian, Malay, Chinese, Portuguese, Thai, Deutsch, Bengali, Vietnamese, and Turkish.

    Copy Trading

    OctaFX copy trading enables clients to automatically copy experienced traders, and piggyback on their expertise in the markets. Traders can browse and select the ‘Master Traders’ they want to follow by looking at statistics such as:

    • Percentage gains (this can be viewed across different time periods, from two weeks to six months).
    • The number of copiers.
    • Maximum Unrealised Loss (the largest unrealized loss the Master Trader held within all their open orders at one point in time).
    • Maximum Drawdown Duration⁠ (the largest timespan the Master Trader’s ‘floating profit’ was negative).
    OctaFX Copy Trading
    OctaFX Copy Trading

    By pressing ‘set up copying’, the orders of the Master Trader will be copied automatically. Traders have complete control over the process and can stop copying anytime. OctaFX clients with an MT4 account can also elect to become Master Traders. They can then trade as usual and earn additional income whenever others choose to copy them.

    OctaFX Copy Trading Rating Page
    OctaFX Copy Trading Rating Page

    Tradable Instruments

    How Do We Test A Broker's Tradable Instruments?
    In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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    OctaFX offers a variety of trading instruments, including CFDs on all the major asset classes— forex, commodities, indices, shares, and cryptocurrencies. OctaFX has a strong selection of CFDs on cryptocurrencies, numbering 30 in total. The range of available CFDs on indices is also better than average.

    CFDs (Contracts for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. I rated the range of tradable instruments at OctaFX as slightly better than average. Here are the major categories of tradable assets available at OctaFX:

    • 35 Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
    • 5 Commodities. Commodities are raw products, such as gold and oil.
    • 150 Global Stock CFDs. OctaFX offers trading in stock CFDs from exchanges ranging from the NASDAQ to the Australian stock exchange. A stock is a security that represents partial ownership of a corporation.
    • 10 Indices. Available instruments range from French to Japanese stock indices. An index is a basket of trading instruments that are used to gauge a market sector, stocks within an exchange, or the economy of a country.
    • 30 Cryptocurrency CFDs. Cryptocurrencies, such as Bitcoin, are digital currencies that are secured by cryptography.

    In the tables below, you can see a selection highlighting the variety of instruments available at OctaFX:

    Forex Major Forex Minor
    Metals Energy
    Silver | Gold Natural Gas | WTI Crude Oil | Brent Crude Oil
    Shares Crypto
    Amazon | Starbucks | Adidas Polkadot | Cosmos | Dogecoin

    OctaFX Maximum Leverage by Asset Class

    Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares.

    The figures below reflect the available leverage at the offshore entity of OctaFX.

    Asset Class Maximum Available Leverage
    Forex  1:500
    Metals 1:200
    Energies 1:100
    Indices 1:50
    Cryptocurrencies 1:25
    Shares 1:20

    Customer Support

    How Do We Test A Broker's Customer Support?
    Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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    OctaFX provides 24/7 customer support via live chat and email. Phone support is not currently available. In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. The agents were helpful and attentive. Despite the lack of phone support, I rate OctaFX as average in this category.

    OctaFX’s customer support is available in 28 languages, including English, Hindi, Urdu, Spanish, Arabic, Malay, Indonesian, Malay, Chinese, Portuguese, Thai, Deutsch, Bengali, Vietnamese, and Turkish.

    OctaFX Live Chat Support
    OctaFX Live Chat Support

    OctaFX Customer Support Test

    Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts. I was surprised at how fast the responses were, and the agents went the extra mile to provide the information I sought.

    Deposits & Withdrawals

    How Do We Test A Broker's Deposit and Withdrawal?
    The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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    OctaFX clients can make deposits and withdrawals via bank wire, credit card, digital wallet, and cryptocurrency. Available methods vary depending on where you reside. No fees are charged for deposits or withdrawals. Processing times range from instant to a few hours, which is better than average for the industry.

    OctaFX Deposits and Withdrawals
    OctaFX Deposits and Withdrawals

    In the tables below I break down the fees and processing times for each deposit and withdrawal method.


    Deposit Method Fees Processing Time
    Local Bank Wire $0 1-3 hours
    Instant Bank Transfer $0 Instant
    Visa $0 1-5 minutes
    Neteller $0 Instant
    Skrill $0 Instant
    Bitcoin $0 3-30 minutes
    Dogecoin $0 3-30 minutes
    Ethereum (ERC20) $0 3-30 minutes
    Litecoin $0 3-30 minutes
    Tether (ERC20) $0 3-30 minutes
    Tether (TRC20) $0 3-30 minutes


    Withdrawal Method Fees Processing Time
    Local Bank Wire $0 1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds
    Visa $0 1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds
    Skrill $0 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds
    Neteller $0 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds
    Bitcoin $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds
    Dogecoin $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds
    Ethereum (ERC20) $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds
    Litecoin $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds
    Tether (ERC20) $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds
    Tether (TRC20) $0 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds

    Account Types and Terms

    How Do We Test A Broker's Account Types and Terms?
    In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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    The account opening process at OctaFX is fully digital and can be completed via the company website within minutes. OctaFX offers two main account types; OctaFX MT4 and OctaFX MT5. In addition, demo accounts and swap-free accounts are available to clients.

    Account Application

    To open an account at the Octa Markets Inc. entity, follow the next steps:

    1. Press the button “Create an account” on the website’s homepage.
    2. Enter your email and create a password.
    3. After confirming their email, enter your name, country of residence, and phone number.
    4. Provide information about your trading experience.
    OctaFX Account Application
    OctaFX Account Application

    Account Types

    OctaFX offers two main account types: OctaFX MT4 which is geared towards beginners and OctaFX MT5 which caters to more advanced traders.

    Account Types Comparison

    Account OctaFX MT4 OctaFX MT5
    Spread Floating, starting at 0.6 pips Floating, starting at 0.6 pips
    Recommended Deposit 100 USD 100 USD
    Available Instruments 35 currency pairs + gold and silver + 3 energies + 4 indices + 30 cryptocurrencies 35 currency pairs + gold and silver + 3 energies + 10 indices + 30 cryptocurrencies + 150 stocks
    Available Leverage  1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies 1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies 1:20 for stocks
    Minimum Volume 0.01 lot 0.01 lot
    Maximum Volume 200 lots 500 lots
    Deposit Currencies USD or EUR USD or EUR

    Demo Accounts

    Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. OctaFX offers demo accounts for MetaTrader 4 and MetaTrader 5.

    The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users have gotten up to speed on a demo account, they can easily switch to a live version.

    Islamic Accounts

    OctaFX offers a swap-free Islamic account that adheres to the principles of Sharia law.


    One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

    The maximum leverage at the global entity of OctaFX is 1:500. This means that with an account of $1,000, you can control up to $500,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

    Order Execution

    OctaFX is an STP/ECN broker. Client orders received by OctaFX are offset at banks and liquidity providers. NDD (No Dealing Desk) brokers such as OctaFX act as intermediaries between the trader and the real market and receive a defined and transparent commission for it.

    Supported Countries

    OctaFX takes clients from the majority of countries globally. However, clients are not accepted from American Samoa, Belarus, Cyprus, Guam, Kazakhstan, Northern Mariana Islands, Puerto Rico, Russia, Ukraine, United States Virgin Islands, United States, United States Minor Outlying Islands, and the Marshall Islands.

    Forex margin trading involves substantial risks


    How Do We Test A Broker's Research?
    Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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    OctaFX excels in research, offering regularly updated commentary written by in-house analysts, and trading ideas. In addition, clients can utilize research from third-party provider AutoChartist. I rate OctaFX as better than the industry average in this category.

    Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch.

    OctaFX Research
    OctaFX Research

    The OctaFX website features a robust economic calendar, including the time, date, country, actual figure, forecast figure, previous figure, and anticipated market impact of a given economic release.

    The AutoChartist plugin for MetaTrader is available to clients with $1,000 or more in their accounts. The Autochartist plugin for MetaTrader provides real-time trading signals to your terminal, shows chart patterns and trends online, and allows you to receive daily Market Reports via email.


    How Do We Test A Broker's Education?
    Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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    OctaFX provides a solid range of educational materials, including articles, videos, webinars, and a video course. Content is updated frequently and is accessible to all levels of traders. A broad range of topics from technical analysis to trading strategies and platform tutorials are covered. With a perfect score in this category, OctaFX has gone above and beyond to educate its clients.

    The education section on the OctaFX website is well thought out, clearly presented, and made for different levels of traders – beginners, intermediate, and experienced. Webinars play an important role and take place daily. Material includes live trading sessions, workshops, and trading strategy-themed presentations.

    OctaFX Educational Resources
    OctaFX Educational Resources

    In article format, OctaFX provides dozens of detailed guides on subjects ranging from how to use moving averages to setting up the Autochartist Metatrader plugin. An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. OctaFX also provides platform tutorial videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade.

    The Bottom Line

    One thing that stood out to me about this broker during my review was the ease of use. The OctaTrader platform is intuitive, well designed, and has popular features like alerts and 1-click trading. There are no swap fees, inactivity fees, or fees for deposits and withdrawals. Two account types cater to traders with different levels of experience. Simple and straightforward.

    Spreads are competitive, especially in forex and shares. OctaFX has also gone above and beyond with its education materials which include live webinars and carefully crafted courses. Customer service is highly responsive, with one drawback being that there is no phone support. OctaFX also made a significant step forward since my last review by adding 150 CFDs on shares from 16 global stock exchanges.

    This broker has many qualities suited to beginners but can also cater to experienced traders with the advanced features of MetaTrader. The global entity is unregulated, and this means clients benefit from fewer account protections. However, OctaFX states that it provides clients with segregated accounts and negative balance protection. A welcome addition would be third-party account insurance (such as a policy from Lloyds of London), as seen at some other popular offshore brokers. Overall, I rate OctaFX as an innovative broker with a client-centric focus.


    Where is OctaFX based?
    The headquarters of OctaFX is situated in Saint Vincent and the Grenadines.

    Is OctaFX safe?
    OctaFX provides negative balance protection and keeps client funds segregated from company funds. The offshore entity of OctaFX is registered in Saint Lucia while the top-tier CySEC regulates the broker’s EU entity.

    How does OctaFX make money?
    OctaFX makes money from the bid/offer spread.

    How do I deposit funds in an OctaFX account?
    Traders can make deposits via bank wire, instant bank transfer, Visa, Neteller, Skrill, Bitcoin, Dogecoin, Ethereum, Litecoin, and Tether.

    What is the minimum deposit for OctaFX?
    The recommended minimum deposit is $100.

    How do I withdraw money from OctaFX?
    Traders can withdraw money via bank wire, Visa, Skrill, Neteller, Bitcoin, Dogecoin, Ethereum, Litecoin, and Tether.

    How long does it take to withdraw money from an account at OctaFX?
    Depending on the withdrawal method, it can take up to 3 hours for OctaFX to process the request.

    What is the maximum leverage at OctaFX?
    The maximum leverage is 1:500.

    How can I open an account with OctaFX?
    You can open an account by visiting the OctaFX website and clicking ‘Sign Up’ at the top right of the screen.

    What platforms does OctaFX offer?
    Clients have access to MetaTrader 4, MetaTrader 5, and the in-house OctaTrader platforms.

    What are the withdrawal fees at OctaFX?
    There are no fees for withdrawals.

    Is OctaFX good for beginners?
    OctaFX has strong educational materials, free demo accounts, trading in micro-lots, and copy trading that make it a suitable broker for new traders.

    Does OctaFX offer a demo account?
    Yes, OctaFX provides demo accounts via MetaTrader 4, MetaTrader 5, and OctaTrader platforms.

    Is OctaFX suitable for scalping?
    OctaFX provides tight spreads in popular instruments and has features like 1-click trading which benefit scalpers.

    Is OctaFX suitable for auto-trading?
    Yes, OctaFX offers MetaTrader 4 and MetaTrader 5, which enable automated trading and backtesting of trading strategies.

    Is OctaFX suitable for hedging?
    Yes, OctaFX can be used to hedge a wide variety of market positions.

    Is OctaFX suitable for spread betting?
    No, OctaFX does not offer spread betting.

    Does OctaFX provide VPS?
    No, OctaFX does not provide VPS hosting.

    What are OctaFX trading hours?
    Cryptocurrency pairs are available for trading 24/7. All other instruments are available for trading on 24/5. The market opens at 00:05 a.m. on Monday and closes at 24:00 on Friday, UTC+3.

    Is OctaFX a market maker?
    No, OctaFX is an STP/ECN broker.

    Does OctaFX operate a bank?
    No, OctaFX is a broker only.


    Forex margin trading involves substantial risks

    See OCTAFX Full Information
    Broker General Information
    Trading Features
    Other Details
    Headquarters Country
    Saint Vincent and the Grenadines
    Foundation Year
    CySEC (Cyprus), SVG FSA (Saint Vincent and the Grenadines)
    Publicly Traded
    Number Of Employees
    Trading Desk Type
    ECN, STP
    Trading platforms
    MT4, MT5, Proprietary
    Restricted Countries
    United States, Russian Federation, Cyprus, Kazakhstan, Guam, Marshall Islands, Northern Mariana Islands, Puerto Rico, Samoa, Ukraine, Belarus
    Supported Languages
    English, Spanish, German, Portuguese, Hindi, Chinese, Malaysian, Indonesian, Urdu, Thai, Vietnamese
    Min Deposit
    Max Leverage
    1:30 (CySEC ), 1:500 (SVG FSA)
    Deposit Options
    Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller, FasaPay, Ngan Luong, Visa
    Withdrawal Options
    Wire Transfer, Cryptocurrencies, Skrill, Neteller, Visa
    Time to Withdrawal
    Time to Open an Account
    Bitcoin Cash, Bitcoin, Cardano, Litecoin, Zcash, Ripple, Dash, TRON, Uniswap, Solana, Ethereum, Polkadot, Chainlink, IOTA, Decentraland
    Products (CFD)
    Currencies, Commodities, Indices, Stocks, Crypto
    Demo Account
    Islamic Account
    Segregated Account
    Managed Account

    Trade With A Regulated Broker