OctaFX review and ratings

Established 2011
Location Saint Lucia
Regulation FSRA
Offices Castries
Broker type STP | ECN
Leverage up to 1:500
Deposit from 25 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5 Specific
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller Bitcoin Ethereum Liteсoin Tether

Company information

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 and most high-risk countries from the FATF grey list.

Distinctive features

Trading instruments

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.

Comprehensive review

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 1:500.

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.

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