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OctaFX is a forex broker located in Saint Lucia, regulated by the Financial Services Regulatory Authority (FSRA).
OctaFX accepts clients from all over the world, excluding USA, UK, EU, Iceland, Liechtenstein, Norway, Philippines and most high-risk countries from the FATF grey list.
Forex broker offers the following underlying assets for trading.
| 35+ Currency Pairs | Based on major and minor world currencies. |
| 30 Crypto Pairs | Based on various top-rated coins and tokens. |
| 10 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 2 Metal CFDs | Based on Gold and Silver. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 100+ Stock CFDs | Based on shares of US and EU companies. |
Headquartered in St. Lucia, OctaFX is an online forex and CFD broker established in 2011. In terms of order processing, it follows the STP (Straight Through Processing) and ECN (Electronic Communications Network) models, and offers significant leverage on trading of up to 1:1000.
The broker is known for winning numerous awards, including “Most Reliable Broker Asia 2023” and “Best Forex Broker 2023” in South Africa and the Philippines.
OctaFX is regulated by a local financial regulatory authority in Saint Lucia known as the FSRA, and has proven itself as a reliable player in the industry with 7+ years of experience. The broker has today opened more than 1 million accounts with clients from over 100 countries around the world.
Clients are free to trade forex, and CFDs based on cryptocurrencies, commodities and stocks. The broker's website also includes live quotes for the most popular currency pairs and CFDs – the latest bid and ask prices, as well as live spreads for each pair.
OctaFX has a total of 3 trading platforms for clients to choose from: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the proprietary OctaTrader platform. Although MetaTrader 4 remains the most popular platform because of its widespread availability and the familiar interface for traders, OctaTrader is also an interesting option that traders should take a look at. As a web-based platform, OctaTrader works smoothly on any type of computer, is easy enough to use even for new traders, and still offers access to all of the advanced charting tools that more experienced traders would need.
OctaFX offers three types of trading accounts, depending on which platform a trader wishes to use: OctaTrader, MT4 or MT5.
All three account types have a minimum deposit of $25 and offer commission-free trading with spreads from 0.6 pips. The accounts are also all swap-free and thus suitable for Muslim traders.
One notable difference between the accounts is that only the MT5 account gives access to the full range of trading instruments, including stocks and so-called intraday assets (assets that are bought and sold within the same trading day).
OctaFX does not charge any fees on withdrawals and deposits, which is something we certainly appreciate. For deposits, the minimum amount is generally around $50, and $5 for withdrawals. Both deposits and withdrawals are processed within one business day by the broker, but the actual time it takes for a transaction to go through depends on the payment method chosen.
The broker currently has a promotion whereby after depositing a minimum of $50 into any account, clients will receive an additional 50% deposit bonus on each deposit. This is to boost the capital of clients to enable more trading and greater potential profits. Bonus funds are also withdrawable, which makes this a nice opportunity to trade with risk-free money.
Customer service is available 24/5, which is a pity compared to some other brokers who offer fast service even on weekends. The broker can be contacted through live chat on the website, but unfortunately no phone numbers have been provided.
As of 2016, OctaFX added an education section on its website with materials to teach novice traders more about the markets, risk management, technical analysis, and trading strategies, and the broker now has it pretty much all covered.
With Octa trading platform you get to use one of the coolest analytical tools in terms of accuracy and details. So far, they've been nicely contributing to my trading results.
Octafx has been a trading company of my lifetime! And this is by far the best broker I have worked with, mainly concentrating on Forex pairs, which has been very smooth.
Octatrader may not offer so many assets, but it still provides comfortable traing environment.
Octa broker is pretty solid overall, their payment processing is like the blink of an eye. I have not had any issues with my deposits and withdrawals.
I really like the no swap policy... It's the first forex broker in my life with this type of trading conditions on all accounts.
Different approach to account types, but I like it. Keep it simple, it's always better.
When I first started trading with octa I always thought the payment issue was gonna be a problem because of my local currency but luckily they had various methods I could use and these methods include:
– Credit/debit card
– Bank transfers
– E-wallets
This was very reassuring as I could use my Neteller account (W-wallet) and ever since I started it's been so smooth and very very fast... I feel like it's actually the best payment method you can use.
I really like how they have categorised its accounts types - according to the trading terminal you use. The tradig conditions are pretty much the same, except for the market range for each of them. The MT5 account has the largest number of instruments available for trading, and this platform is technically the most advanced among the rest. Therefore I choose MT5.
You know I don't care about licenses of brokerage companies, instead I prefer to listen to the recommendations of my acquaintances who are involved in the trading field. So they recommended Octa broker and that's why I chose this broker and it seems they are quite prominent in the trading circles. I'm satisfied with the services and there's a lot of useful information for newcomers.
I have spent hours monitoring other people's trading accounts on the Monitoring page. This is an excellent feature. I have actually learned how people hedge their losing positions from here.
Octa is a veteran of the forex scene as much as I know. It also has multiple regulations so it was an easy decision in the first place. Plus I needed a trading place without swaps :)
So the universal minimum deposit is around $50 which is reasonable, at least for me. I like that these guys support crypto transactions as it is the future, and for this they gained my trust as a client. The same with the withdrawals, no fee for taking money out and it can also be crypto.
Only traded for short while with small deposit. Beware! Check the conditions for the floating margin call and stop-out % levels. They reserve the right to adjust stop-out % level as they choose, accordingly to "volatile market conditions", which can be interpreted as they see it fit. If that's not problematic, I don't know what else would be.
