Honest OctaFX review and test for traders

Review:	Platforms:	Spreads from:	Leverage:
(5 / 5)	MetaTrader 4/5	Spreads from 0.2 pips	Up to 1:500

The OctaFX broker, for a long time in European countries, has been providing services to traders in more than 100 countries. You might be surprised, the company is currently serving more than 1,500,000 traders. Here, according to the ECN (electronic communication network) model, the platforms can be selected.

In this review, we will show you all the details you need to know about OctaFX. Is it really worth investing your money there? – Find out in our OctaFX review. Learn about trading conditions, platforms, and special features for customers. With more than 10 years of experience in the trading industry, we checked OctaFX in detail.

(Risk warning: Your capital can be at risk)

What is OctaFX? – The broker presented:

You may know that there is no guarantee of making money in online FX trading. So we think it is very important to move towards the trading platform with your prudence, practical humanity, and knowledge. To be successful in online trading you need to go through many steps like practice, time, patience, and much more. OctaFX gives you some of these opportunities so that you can deal with or defeat the market. The broker transmits clear-sighted market knowledge while maintaining the specific skills required to make money online, which will give you a much higher balance of profits from losses.

OctaFX is one of the best international Forex and CFD broker. The main client base of OctaFX is in Europe. This company has been providing opportunities for traders to invest in the market for a long time since 2011. A big advantage of this platform is that traders can easily determine the rate of low wages.  Also, OctaFX helps to guess the speculation about their increasing rate.

More than 2,840,000 of the essential bonus fund was valued in that field. Here OctaFX is commission-free Euro or USD, only 0.4 pips! It helps maintain a highly competitive cost structure in emerging markets. The broker supports copy trading to support social businesses. Autochartist Pro also supports traders in a wide range of ailments through manual support. Traders come to the OctaFX offer for the experience of trading with Octatrader, MetaTrader 4, and MetaTrader 5.

Facts about the OctaFX company: 

⭐ Rating:	5 / 5
🏛 Founded:	2011
💻 Trading platforms:	MetaTrader 4, MetaTrader 5
💰 Minimum deposit:	$50
💱 Account Currencies:	USD
💸 Withdrawal limit:	No
📉 Minimum trade amount:	$1,000 trading volume / 0.01 lot
⌨️ Demo account:	Yes
🕌 Islamic account:	Yes
🎁 Bonus:	Yes
📊 Assets:	Stocks, Indices, Commodities, Cryptocurrencies, Forex
💳 Payment methods:	Neteller, Skrill, Bitcoin, Ethereum, Litecoin, Dogecoin, Tether
🧮 Fees:	Starting at 0.2 pip spread
📞 Support:	24 / 7 via chat or e-mail
🌎 Languages:	13 languages

Regulations and safety OctaFX

All online trading activities are regulated by government financial authorities, so trades play a very important role. The license used in trading helps to build a confidential relationship with the customer and build a strong foundation. Every broker has to meet certain rules and criteria to get this government license. If a broker violates the rules or attempts to commit fraud, the license will be permanently revoked.

The OctaFX broker has several licenses, which bring some great benefits for traders. OctaFX Holding plc is regulated by CySEC (EU), which can give you maximum benefits. The broker also has a dealer license in Mauritius (FSC). In this case, traders can make all their own decisions. There is a huge potential for limited independent business without any leverage.

OctaFX is regulated by:

• FSC (Mauritius)
• CySEC (EU)

(Risk warning: Your capital can be at risk)

What are the pros and cons of OctaFX

OctaFX is a reliable broker and has been on the market for more than 11 years now. The company has clients from over 180 countries and has earned 60 industry awards, according to its website. We can confidently say, OctaFX is a safe option to deposit your funds, but is it also the most suitable one for you and your needs? After testing the platform with our own money and comparing it to hundreds of other sites, here are our pros and cons.

Pros of OctaFX	Cons of Octa FX
✔ Trusted broker with more than 11 years on the market	✘ Visa cards or bank transfers aren’t available to deposit funds
✔ Low minimum deposit of only $50
✔ A number of cryptocurrencies available to fund your account
✔ No deposit- or withdrawal commissions
✔ High leverage of up to 1:500
✔ No swap fees
✔ Low fees and competitive spreads
✔ Multilingual support via e-mail and chat 24 / 7

How good is the usability of OctaFX?

A great user experience is crucial for every trading platform to build and maintain their customer’s trust. From our experience, the broker is doing a pretty bad-ass job at it. If you take a deeper look at the reviews, you will often find in-depth replies to the comments, not just templates. This is just a small example of how OctaFX is genuinely caring about the experience you as a trader have, and it reflects our personal experience with the OctaFX support staff very well. Apart from that, the platform is also easy to navigate and clean; we very much like the usability of OctaFX overall.

Criteria
General Website Design and Setup	★★★★★ The website is well-structured and organized, and support is available instantly in case you need them
Sign-up Process	★★★★ Sign-up process is pretty standard, not bad, but also not extraordinary
Usability of the trading area	★★★★ MetaTrader 4/5 might be a bit overwhelming when you first use it, but they have a good selection of educational material to help
Usability of mobile app	★★★★ Good mobile app, allowing you to trade from everywhere

Trading conditions for OctaFX investors – What are the offers?

Forex and CFD trading is very popular nowadays. Private traders like these assets a lot because they can access global financial markets using little capital. Also, you will get the opportunity to increase profit from OctaFX. Traders get the opportunity to use maximum leverage 1:500 here. With your small capital, you can easily transfer higher numbers to the market.

The minimum deposit you can invest is $ 50, which is guaranteed at a much lower price than other brokers in the market. It is the best of OctaFX to make a conventional offer that you can apply and accept. You can enter the financial market with very little capital (0.01) lot depending on your position. The OctaFX broker offers different offers to the clients according to the package, based on the account type.

More than 100 assets are available on the platforms. That includes: 

• Forex (35 currency pairs)
• Indices (10 Indices)
• Metals (10 metals)
• Cryptocurrencies (30 cryptocurrencies)
• Stocks (150 stocks)

Investing here means trading currency, cryptocurrency, any product, stock, and much more. Shares of OctaFX are excluded from the market subject to the terms of the German Stock Exchange and the American Stock Exchange. Many other parties use these shares on favorable terms. OctaFX assets are always dependent on the current market.

Although variable spreads are offered in these trade markets, a higher spread may be transmitted depending on the number of customers. You can compare it to the initial or general trading of the stock market.  But here, the average of the spreads is calculated as 0.4 pip in Forex. If you want to get it out of the stock index, it will be less than 1 point. Even better, if you expect a high-rank spread, then the black account can help you in this regard. You can use the RAW Spread account as an alternative. You will always find many offers here.

See the table for spread comparison at OctaFX:

Asset:	Spreads from:
EUR/USD	0.4
GBP/USD	0.4
USD/JPY	0.4
XAU/USD	1.8
US30	2.5
BITCOIN	2.8

In some cases, special offers may be offered in this trade. Such as:

• The first step is a free demo account.
• The minimum deposit is only $ 100 or € 100.
• Leverage will be between 1:30 and 1: 500.
• Spreads from 0.4 points
• Different account types are available
• Platforms: MetaTrader 4/5, cTrader
• Opportunity to execute orders quickly
• Short trading possible
• No hidden fees
• Islamic accounts possible
• Trading without Swap fees
• 50% deposit bonus is possible

(Risk warning: Your capital can be at risk)

Test and review of the OctaFX trading platforms

Every professional forex broker must have a reliable, trusted trading platform for trading. Traders use several tools to gather information on what kind of analysis traders are using in this trade market. See below to know about the various available platforms of OctaFX.

These are the available platforms of OctaFX:

• MetaTrader 4
• MetaTrader 5

MetaTrader 4

MetaTrader 4 is a platform that any user can use with ease. Because this trade is a process that is extremely flexible, fast, secure, and responsive. Any customer can also use this platform for Forex and CFD trading. It analyzes transactions in financial markets and provides secure and fast access. Users of OctaFX can ensure traders’ advanced access to trading operations in a reliable environment. OctaFX trading is an international broker, so it supports many languages. It is also very popular as it can automatically supply trades to the market. Also, MT4 has more advanced charging capabilities, it is fully customizable.

MetaTrader 5

MetaTrader 5 is one of the most popular trades on one of the most popular platforms in the world. MT 5 is the world’s number one multi-asset platform provider of futures, forex, CFD, and exchange-traded instrument trading. Investors choose MT 5 as the best investment platform. This market has a large number of customers because this platform is very easy to use. MT5 includes Level 2 Pricing, Robotic System Trading, Higher Chatting, VPS Support, and Education Market. There is also the ability to provide free market data and news. The MT5 can also be said to be an automated trading option.

You can use the MetaTrader Supreme Edition platform to improve your business because the most advanced tools are applied here. We believe it improves the customer’s business experience. You can try using live and free demo accounts to enjoy this platform. OctaFX MT5 and MT4 have powerful global widgets for feedback. This widget improves forex trading performance. MetaTrader 4 and MetaTrader 5 play a major role in rapid order reversal and hedging promotion.

(Risk warning: Your capital can be at risk)

Web trader/charting and analysis

WebTrader is a popular and convenient trading platform like MT4 and MT5. This trade allows traders to trade through browsers from anywhere. You can trade securely at any time in web trader. No download is required to get started. Works very fast without any OS choice. User-Friendly (easy to use) can be done on the OctaFX platform. Web Trade is much more advanced. Web trader works much faster.

Mobile trading:

MT4/5 and cTrader are one of the top software on the Android platform on mobile. It has been designed by OctaFX Markets for traders in a way that is easily accessible on mobile. OctaFX clients allow them to access trading on any Android device. Being mobile-friendly, it offers many benefits to clients or merchants. OctaFX customers may not be able to place orders using mobile devices, where they will be able to perform basic technical analysis on the full chart. Customers will be able to do Candlestick, Line Chart, Bar Chart, and Tick Chart using Excel on mobile.

OctaFX allows mobile trading (app)

OctaFX helps customers to know the basics by using the mobile trading app in the market. The mobile trading app encourages the customer to increase investment. See below the benefits you will get in the mobile app for MetaTrader 4/5.

Opportunity to watch Live FX Quotes, a chart with the display, platform customized, Indicator add, Broker’s clients can get a massage,  market news, read and see broker news, all types of orders use. Time Frames change, Access Trading History and Mobile access for online trading carry friendly and useful features.

The current market situation is quickly available in the MetaTrader 4/5 mobile application. The application is, of course, used for FX trading, and it can be said to own a few powerful charting of all mobile applications.

(Risk warning: Your capital can be at risk)

How to trade with OctaFX

Which market you trade your investment in depends on your choice.

Before any broker enters the market, you should know whether the market is moving upwards or downwards. It is up to you to decide whether to buy or sell stock spreads in this market. If you see a drop in the market price, then you need to click on ‘Sell’. On the other hand, if you see that the price has increased, then click on the ‘Buy’ button.

You need to add stop-locks here urgently. Because when you move too far away from your location, you can secure your location through a certain process. Brokers can track trade market prices as well as place their trades in the trade market. You can also focus on real-time gains or losses.

How to open an OctaFX account

You can open a demo account on many topics at OctaFX. You can open a demo account accordingly by looking at the offers. It is very easy to open a demo account with OctaFX, and you will get this account quickly. To open an account, you need to use your name and email as well as a strong password. If you do not provide your full name and email address, the account will not be created.

For trading with real money, you will need to verify your account. That means OctaFX will require some documents to verify your identity. Just answer the questions in the account dashboard and upload the documents. The broker support can help you with that. The process can be over in a few minutes.

(Risk warning: Your capital can be at risk)

OctaFX offers different types of accounts:

OctaFX offers a choice of two different account types, OctaFX MT4, and OctaFX MT5. In our opinion, OctaFX MT4 is perfect if you are new to only trading or more experienced and have a preference for minimalistic yet sophisticated trading tools. An OctaFX MT5 account is perfect if you are a more innovative trader. Below you will find an overview of the key similarities and differences between the two account types. Overall, the differences are rather minimal, and which account type you choose is ultimately a question of your personal preference.

	OctaFX MT4	OctaFX MT5
Commission/spread markup	No commission or markup	No commission or markup
Recommended deposit	$100	$100
Minimum trading volume	0.01 lot	0.01 lot
Maximum trading volume	500 lots	200 lots
Margin call / stop out level	25% / 15%	25% / 15%
Hedging / Scalping	Yes	Yes
Trading on indices	Yes	Yes
Trading on stocks	Yes	No
Cryptocurrency trading	Yes	Yes

Demo account

You can use a free demo account to evaluate the platform first before depositing. Your virtual credit will be included in the demo account with 10,000$ in automatic funding. It will be deleted from the account after 30 days. OctaFX clients submit this demo account so that the customer can be aware of all the tools.

Deposit bonus

OctaFX offers a 50% deposit bonus. You will get additional money to increase your margin if you activate the bonus. But first of all, you can not pay out the bonus, you can only use it to make more profit. For withdrawal of the bonus, you have to do a certain turnover in trading volume (The bonus amount in lots divided 2).

• 50% deposit bonus
• Increase the free margin
• You can withdraw the bonus after doing the bonus conditions
• The bonus is available for all deposits over $ 50

Copy Trading (Social Trading)

OctaFX offers a copy trading service to its clients. That means you can copy the trades of other traders or get copied. You do not have to be a forex expert to make money with OctaFX. You can search for a profitable trader and invest in their trader one by one. It is also possible to diversify your portfolio by investing in more than one trader for better risk management.

With OctaFX, you always have control over your portfolio and the copied trades. It is very easy to manage. Just deposit money into your account, pick a successful trader, and start an invention.

• Copy professional traders one by 1
• Full control over your investment
• Follow the best traders
• Earn money automatically
• Get copied and earn additional money
• Easy to use

OctaFX accepted countries and forbidden countries

See below the countries that can access OctaFX trading:

For a long time in the OctaFX trading, Argentina, Australia, Austria, Bahrain, Belarus, Brazil have been trading deposits. Also, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark are far ahead in terms of business investment.  Renowned European countries such as Estonia, France, Finland, Germany, Greece, Hungary, India, Ireland, Israel, and Italy are directly involved in OctaFX investment. OctaFX includes many more countries, including Kuwait, Malaysia, Malta, Mexico, Monaco, the Netherlands, Norway, Latvia, and Liechtenstein. However, Lithuania, Luxembourg, Oman, Poland, Portugal, Russia, Saudi Arabia, Slovakia, Slovenia, South Africa, Sweden, Spain are still trading here. OctaFX allows direct deposit transactions to Switzerland, Thailand, the United Arab Emirates, the United Kingdom, and Qatar.

OctaFX trading does not give or receive access to US customers in any way.

Each of the countries you see here has the support to join the broker OctaFX. This company is a very large trading platform, so you can safely place your deposits or assets here. Moreover, there is support for a minimum deposit.

(Risk warning: Your capital can be at risk)

Deposits and withdrawals with OctaFX:

As discussed above, the minimum deposit for opening a real trading account is $50. You can use for the deposit different payments methods. OctaFX doesn’t offer as many payment methods as other brokers on the market, but on the other hand, have the advantage of accepting cryptocurrencies for payment. The available payment methods are:

• Cryptocurrencies
• E-Wallets (Skrill, Neteller, PerfectMoney, and more)
• Credit card payment via Mastercard

On most payment methods, there are no fees for depositing and withdrawing money. OctaFX will not charge additional fees, but the payment provider can do it. The fee is depending on the payment method, but most payment methods are free. The deposits can be instant by electronic methods. It is depending on the time of the day, sometimes, the withdrawal is made in a few hours (1-3 hours in most cases). The maximum time amount is 3 – 5 days for a withdrawal.

In the table below, you will find some information on the minimum deposit, processing time, and additional useful information regarding deposit methods.

Payment Method	Minimum amount	Commission	Execution time
Bitcoin	0.00037000 BTC	Free	3-30 minutes
Skrill	$50	Free	Instant
Neteller	$50	Free	Instant
Ethereum	0.02000000 ETH	Free	3-30 minutes
Mastercard	$50	Free	Instant
Tether TRC-20	50.000000 USDTT	Free	3-30 minutes
Tether ERC-20	50.000000 USDTE	Free	3-30 minutes
Dogecoin	230.00000000 DOGE	Free	3-30 minutes
Litecoin	0.300000000 LTC	Free	3-30 minutes

(Risk warning: Your capital can be at risk)

Is there a Negative balance protection OctaFX?

Yes, OctaFX is a broker which offers negative balance protection to its clients. This way, you will never risk more than your deposited amount in your trading account. If your account balance goes negative, for example, due to significant economical events, your account balance will reset to zero automatically.

Still, we don’t recommend you open trades without careful analysis and applying tactics to reduce the risk. These tactics include the responsible usage of leverage, using the stop loss function, and keeping an eye on your trading volumes.

How does this broker make money from you?

OctaFX will make the majority of its revenue from the added spread and reinvest part of the revenue to further improve customer service. Unlike with some other brokers, there are no commissions on deposits, withdrawals, or currency exchanges.

How good is OctaFX customer support?

The customer support on OctaFX was awarded multiple international awards and is fast, efficient, helpful, and knowledgeable in our experience. There are two main options to contact customer support 24 / 7, via live chat or e-mail. OctaFX doesn’t currently offer customer service via phone. In our experience, the support via chat is perfect for a fast and competent answer, often time the support will reply within a few minutes.

(Risk warning: Your capital can be at risk)

What are the best OctaFX alternatives?

Now, let us take a closer look at the possible OctaFX alternatives. Each prover has some advantages and disadvantages, or they might simply not be able to join OctaFX. To not leave you without options, take a look at these three alternatives below.

Capital.com

Captial.com is one of the biggest online brokers available and is certainly very trusted. They managed to attract millions of users thanks to the simple interface and the dedicated support team. If you lack trading experience or knowledge, then captial.com is the best option. On the downside, fees and commissions tend to be slightly higher than on other platforms.

RoboForex

The next potential alternative you could consider is RoboForex. What makes this broker unique is it its large variety of tradable assets and the laser-fast order execution. They offer seven asset classes and more than 12,000 markets to trade. Roboforex is registered in Belize, and regulated by the CySEC, FCA, ASIC, and FSA. According to their website, more than 900,000 customers are registered on their site. Don’t forget to read our full review on Roboforex before you test it out.

XTB

Lastly, we must remember XTB as another alternative, best if you are looking for a broker which has been on the market for close to twenty years now. The company has offices in more than 13 countries, including UK, Germany, France, and Chile. This makes XTB one of the safest brokers in the world, so you can’t go wrong with them.

Conclusion on the OctaFX review: Recommended broker

By now you must have got a great idea about OctaFX. We would say from our experience that this broker has its license so you can use deposits or assets in this market. OctaFX has long been involved in investing and it is directly regulated by the government.

The number of customers of this company is increasing day by day. So OctaFX proves that it is a reliable trading platform. If you search for it in online brokers, you will first see the name of the OctaFX. It also controls everything through the provision of powerful software and allows customers to access the account through the mobile app. If you want to gain a transparent trading experience, create an account with OctaFX Broker. You can get something great, from the offers of this company. You will even get the opportunity to get involved in the business with very little profit.

Overall it is a professional provider for forex and CFD trading. The trading conditions are very good and the trading fees are low. In addition, copy trading and a deposit bonus are offered. Deposits and withdrawals are working very fast.

Advantages of OctaFX: 

• Regulated and safe broker
• Free demo account
• Minimum deposit only $ 50
• High leverage up to 1:500
• Different account types
• MetaTrader 4/5
• Spreads from 0.2 pips
• Low commissions
• Professional support
• Copy Trading
• Deposit bonus

(Risk warning: Your capital can be at risk)

Read our other articles about OctaFX: 

• OctaFX minimum deposit
• OctaFX bonus
• OctaFX fees
• OctaFX withdrawal

FAQ – The most asked questions about OctaFX :

Last Updated on June 22, 2023 by Res Marty