+44 151 994 3722

OctaFX Guide – Read our In-Depth OctaFX Review

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 US users.

This OctaFX review contains the most recent information about OctaFX.

If you're a new entrant in the world of trading and broker, so many facts will be perplexing for you. Getting into the area of trading demands expert assessing skills and comprehensive knowledge. You will acquire adept at all of the concepts of brokerage as you keep trading. For starters, you have to select the ideal broker who'll be clear with you always.

In this fast-paced world of stock markets and trading, you'll need advice to make proper decisions. A professionally lead investment plan will create hefty returns. OctaFX is one such stage that will take you along with your investment to great heights. It's important that you know about OctaFX until you trust them with your cash.

OctaFX review

Our entire OctaFX Review covers everything you will need to learn about trading with OctaFX. A fantastic broker can multiply your first investments and provide you favorable profits. If you want to make profits, you should trade with a brokerage service that aligns with your investing objectives.

There's absolutely no sure-fire way to ensure profits; therefore, you must carefully analyze your broker before you choose them. It's a common misconception that all agents will be exactly the same, but that's not correct. Wrong judgment, in the beginning, can set your investments in danger.

OctaFX is a broker that has found its way successfully into the brokerage world. In this review, we have attempted to collate a number of the important facets of OctaFX. This review will allow you to understand whether OctaFX is a fantastic match for your investments or not. We've tried to breakdown all of the qualities and charges for your convenience.

OctaFX Review, Table Of Contents

Who are OctaFX?

OctaFX is a foreign exchange broker headquartered in St. Vincent and the Grenadines and provides a range of tools for online trading. Since its inception in 2011, OctaFX has emerged as a leading player in the field of online broker. OctaFX has an extremely competitive and full-featured trading site that is focused on currency, indices, metals, sharesand commodities.

Over the past 10 years, OctaFX has grown into one of the leading online brokers.

After establishing in 2011, their consumer base has become as big as 30,000+ clients.

OctaFX is a favorite of many dealers because of its negative balance protection. Our OctaFX review discovered that they are an excellent alternative for automated trading solutions. It's best suited for investors who are searching for a variety of assets. Social and automated trading options are the heart at OctaFX.

Technology plays a significant role in OctaFX. OctaFX offers trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps. OctaFX is honest, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.

The educational section at OctaFX is very enlightening for new traders since it allows them to get a closer look at 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.

Benefits of trading with OctaFX?

Trading with OctaFX includes numerous benefits. These advantages are what sets OctaFX apart from the rest of the online brokers. You should check all the advantages listed so you have a better understanding of OctaFX.

The broker goes to great lengths to comprehend what dealers need. As a result, the support price is low, quick, and convenient. The agent also gives a number of programs for all kinds of traders. OctaFX helps to ensure that the individual needs of all online traders are completely met.

OctaFX also features excellent trading conditions which are readily available to only an elite class of institutional customers. The tight spreads and quick executions are a great benefit for the traders. The technology embraced by OctaFX is among the highest caliber, ensuring that it is fast, dependable, and effective.

OctaFX acknowledges the importance of having a fast order execution. A quick implementation will allow users to exchange without worrying about slippage safely. It is going to also aid the traders to grab the utmost profitable opportunities.

Automated trading is another important facet of OctaFX. A new trader can learn from industry experts utilizing the automatic trading option. The tight spread begins from as low as 0.0 pips, though they are offered for just razor accounts.

OctaFX has over trading instruments to support all kinds of traders. These tools are dynamic and suitable for both new and experienced traders. The dealers can set aside all their worries when trading using OctaFX.

OctaFX overview

Year Founded: 2011

Regulated By: Financial Conduct Authority (FCA)

Hedquarters: St. Vincent and the Grenadines

Minimum Deposit: $5

Number Of Clients: 30,000+

Losses can exceed deposits

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 should know about trading using OctaFX

OctaFX is a lively platform that offers various procedures of trading online. These instruments cover the monetary markets substantially. Most of the broker platforms provide fewer procedures than OctaFX

If you wish to exchange with OctaFX, you'll need a minimum deposit of $5. This deposit is compulsory if you wish to begin trading using OctaFX. This 2021 OctaFX review will guide you clearly about trading with them.

OctaFX is as flexible as another broker platform. OctaFX is excellent for traders that want a manageable assortment of cheap services. The platforms offered by OctaFX are third party, white-label offerings. All traders may pick out of MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps.

Together with everything, OctaFX has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time on which a transaction has to be kept available. The agents provide premium customer service that rewards clients with benefits.

Many unprofessional brokers try to pressurise consumers into larger financing for superior services. OctaFX, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the user, the more benefits will come along.

OctaFX accounts are available globally and provides outstanding service wherever they have customers. There are only a select 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 2006, OctaFX has been open for 10 years, they are headquarted in St. Vincent and the Grenadines.

OctaFX is regulated by Financial Conduct Authority (FCA). These figures have rules that make sure that trading platforms have ploicies in place to keep investor's resources secured. This usually means that OctaFX users don't need to worry about their money as it's segregated and safely stored in established banks. SSL encryption simplifies each user's private information as well.

You are able to make use of an option for Two Factor Authentications (2FA) with OctaFX for increased safety. An SMS with the verification code will be sent to a mobile phone. You will be asked to input this code to log in to your accounts.

Another concern with financial brokers is in regards to security might be manipulation of trading. This is highly disadvantageous to users on these platforms. However, this is much more widespread in the case of Market Maker brokers who compete with users on the platform.

Pro's & Con's Of Trading With OctaFX

Every online trading platform will have some pros and cons OctaFX review would be complete without showing both sides. 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 Pro's

  • OctaFX is trusted by 30,000+ clients
  • OctaFX offers Negative Balance Protection
  • OctaFX offers Guaranteed Stop Loss
  • 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 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 Con's

  • OctaFX doesn't trade minor forex pairs
  • OctaFX doesn't trade exotic forex pairs
  • OctaFX doesn't offer trading on cryptocurrencies

OctaFX Review - Compare Brokers Similar To OctaFX

OctaFX Trading212 Wealthfront Swissquote
Rating 4/5 2/5 4/5 4/5
Minimum Deposit $5 $1 $500 $1000
Year Founded 2011 2006 2008 1999
Headquarters St. Vincent and the Grenadines UK USA Switzerland
Regulated By Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Unregulated Financial Conduct Authority (FCA)
Clients 30,000+ 14,000,000+ 10,000+ 300,000+
Find Out More
Risk Warning Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. Your capital is at risk Losses can exceed deposits

OctaFX Review - Regulation And Licencing In More Detail

OctaFX is regulated by Financial Conduct Authority (FCA).

OctaFX, as a company, has a powerful collection of rules for ensuring fair 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 any other institutions or individuals. Including credit history and other financial information.

OctaFX Review - Awards

    At the time of writing this OctaFX review, they had not received any awards.

OctaFX Review - Minimum Deposit Required

The minimum deposit you must deposit to get started on OctaFX is $5. This is an adequate amount for those just beginning. You can create more advanced residue as you go along. But, ensure that you understand how to make the most of your cash before investing larger sums.

OctaFX Review - Commission And Fees Explained

OctaFX is an online brokerage platform, and most online brokerages charge lower fees than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled better. In other words, an internet broker is not necessarily influenced by the amount of customers they have.

However, this does not necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to make money. There are mainly 3 types of penalties for this purpose.

The first kind of fees to keep an eye out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you're billed trading charges. In such instances, you are paying a spread, financing rate, or a commission. The sorts of trading charges and the rates vary from broker to broker.

Commissions could be fixed or determined by the traded volume. On the flip side, a spread refers to the gap between the buying and selling cost. Financing or overnight rates are people that are billed when you maintain a leveraged position for longer than a day.

Aside from trading fees, online brokers also bill non-trading fees. These are dependent on the activities you undertake on your accounts. They're billed for surgeries like depositing cash, not trading for long periods, or withdrawals.

In general, OctaFX does not charge high fees compared to other online brokers. For operations other agents charge for, they either do not charge a broker fee, or they charge a lesser amount. This can be beneficial for those who regularly trade, such as weekly or daily trading.

However, non-trading fees charged by OctaFX are relatively lower. As a result, you are charged more for non-trading activities on your trading accounts, such as deposits and withdrawal. These are not about the sale and purchase of resources.

This OctaFX review breaks down each of the applicable non-trading charges for you in detail.

Compare broker fees against OctaFX

OctaFX Trading212 Wealthfront Swissquote
Minimum Deposit $5 $1 $500 $1000
Withdrawal Fees No No variable No
Inactivity Fees No No No
Deposit Fees No No No
CFD Fees No No No

OctaFX Review - Withdrawal Fees Explained

OctaFX doesn't charge withdrawal fees

Withdrawal of money is possible at any moment from the OctaFX account. You can draw sums up to the amount of your account balance, keeping aside the perimeter used. One thing to keep in mind is that you don't always have to have any money on your accounts.

Moreover, the withdrawn money will be transferred directly to the account you use to create deposits. Therefore, if you used a credit card for deposits, the withdrawn money is going to be sent to 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 the event you are withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're choosing to withdraw in.

OctaFX Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your mind while open an account with OctaFX. An inactivity fee is an amount charged to registered traders that haven't participated in purchasing or selling for a while. The period considered inactive is decided by the broker.

The inactivity fee differs from one agent to another and is not generalized. If a traders account does not have a purchasing or selling transaction, it is maintained by the agent as an inactivity fee. The traders have to pay this commission under terms and conditions that they had agreed while enrolling.

OctaFX doesn't charge inactivity fees so you are free to pop in and out of your account as needed

Even if no fees have been indicated by OctaFX, it's better that you close the account if you're inactive. Inactivity fees are not just charged by broker companies but also many financial services.

For additional trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is subjected to many conditions and should be disclosed clearly by the agent beforehand.

OctaFX Review - Deposit Fees Explained

When you transfer money in your trading account from the bank account, a deposit fee can be charged by the broker. Most brokers 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 need to complete a single-user profile survey to start depositing money into your trading account. You'll have to provide an identity evidence and evidence of residency to deposit substantial sums.

OctaFX Review - Compare Broker Deposit Methods

OctaFX Trading212 Wealthfront Swissquote
Minimum Deposit $5 $1 $500 $1000
Credit Card Yes Yes Yes
PayPal No Yes No
Neteller Yes No No
Skrill No Yes No
Payoneer No Yes

What Can You trade With OctaFX?

Note: OctaFX provides a lot of different trading instruments due to regulatory restrictions in some countries. Trading instruments offered may differ 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, Trading212, Wealthfront & Swissquote below.

OctaFX Trading212 Wealthfront Swissquote
Platforms MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps iPhone, Mac, iPad, Android, WEB MT4, MT5, ZuluTrade, Web Trader, Tablet & Mobile apps
Instruments Available 3000 270 100
Forex & Crypto
Forex Pairs Available 177 150
Offers Major Forex Pairs? Yes Yes No Yes
Offers Minor Forex Pairs? Yes No Yes
Offers Exotic Forex Pairs? Yes No Yes
Offers Cryptocurrencies? No Yes No No
Commodity CFD's
Commodities Offered 0 14 0 7
Trade Metals? Yes Yes No Yes
Trade Energies? Yes Yes No Yes
Trade Agricultural? No Yes No No
Indiced & Stock CFDs
Stocks Offered 14 0 7
Trade UK Shares? No Yes No Yes
Trade US Shares? No Yes No Yes
Trade German Shares? Yes Yes No Yes
Trade Japanese Shares? Yes Yes No Yes

Losses can exceed deposits

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

Your capital is at risk

Losses can exceed deposits

Alternatives To OctaFX

If, after studying this OctaFX review, OctaFX doesn't meet your needs check out these OctaFX alternatives.

We have scoured the web to find the best alternatives to OctaFX. Click on the hyperlinks below to learn 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 ease of inexperienced traders. You may use this feature to build your faith in the system and yourself and your trading strategies.

If you register for a demonstration account on OctaFX, you may set out with a decent amount of virtual currency. It's to establish a sense of security and confidence in you until you decide to spend your own money.

With this digital OctaFXdemo account, you are able to experiment in any way, to whatever period you wish. You might also start positions, examine different trading approaches, and more.

OctaFX specifies on its official website that you are able to trade real time stocks in a demo account.

Is OctaFX safe?

It is possible to drop all your worries because we believe that OctaFX is completely safe to use. It's in compliance with all 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 acocunt with OctaFX is $5. You should have a good hold over the nuances 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 a number of methods to fund your accounts with OctaFX. The process is effortless and quick, with different payment methods at your fingertips.

You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You must bear in mind that PayPal is not available in all country. The currencies OctaFX

Is my money safe with OctaFX?

Yes, your money is safe and secure with OctaFX. As you know, OctaFX operates with proper conformation to. It has established lots of steps to guard all its own investors.

OctaFX protects its clients' personal and sensitive data under SSL encryption. Your capital will be kept highly secure in top-tier banks.

If you wish to further protect your accounts, it is possible to enable Two-Step Verification as well. It takes an SMS affirmation for you to get your account.

Is OctaFX trading good?

Yes, trading via OctaFX is a nice and good experience indeed. It's an excellent and intuitive platform with helpful features for your ease. In addition, you can also obtain access to a huge collection of educational resources and assistive material to kickstart your trading expertise.

If you remain skeptical, it is possible to open a eToro demo account and assess the trustworthiness of the platform for yourself.

Which Countries does OctaFX support?

OctaFX operates around the world. However, due to regulations there are some countries that OctaFX do accept clients from

Is OctaFX legit?

OctaFX is a legit company headquarted in St. Vincent and the Grenadines since 2011. 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 can vouch for it. The highlight of the platform is its fast order execution on transactions.

You will find the clean layout of this platform along with the commendable features that 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 one of the industry leaders. It supports over 30,000+ registered users and over 10 years of experience on its record. They're among the world's top trading platforms and also a prominent figure in the Fintech revolution.

It simplifies this status to its unbelievable platform and broad range of resources plus tools so you can invest in 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?

Using OctaFX, several traders earn a lot of cash. But typically, through continual trading, you can create between 2% - 10% profit a month.

This can look to be a little number, but over the entire year, this adds to a substantial amount of gains. While OctaFX provide you all of the tools to earn money, they cannot guarantee that you will gain.

Does OctaFX have fees?

Yes. To start trading using OctaFX, you have to deposit $5. Particular commissions while trading also applies. Any processing fees from your bank might need to be incurred by you.

When was OctaFX founded?

OctaFX was founded in 2011 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+ clients.

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 is especially offered while the industry volatility prevents clients from letting their account go into the red. In a situation like this, OctaFX offers the ability to reset a customers account balance to zero.

You can go through the important conditions on OctaFX's site to understand their policies.

Does OctaFX offer guaranteed stop loss?

Yes, OctaFX offer a guaranteed Stop Loss order.

When there's absolutely no free margin left with the customer, OctaFX will cease your positions. When the losses in the ceased out location exceeds your account balance, you may encounter a negative account balance.

Does OctaFX allow scalping?

Yes, OctaFX do permit scalping. Several traders across the world select OctaFX due to their scalping services. They offer trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps which allow this.

Does OctaFX allow hedging?

Yes, OctaFX does 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?

No, unfortunately you cannot 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 demo accounts so you can learn their systems before risking any real money.