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OctaFX Review

FX Scouts By Jeffrey Cammack Updated: May 12, 2020
Overall Rating
4.10 / 5
Min. DepositUSD 50
Max. Leverage500:1
Min. Spread0.0 pips
Regulators CySEC
Regulator Origin CySEC
Trading Desk Type

Summary

OctaFX is a CySEC-regulated STP broker founded in 2011 that will appeal to both beginners and professionals.  They have an excellent analytical section and offer a range of useful trading tools such as AutoChartist, copy trading, and an account monitoring service so you can learn anonymously from other successful traders. 

Trader education for beginners is well-presented and platform support is almost unbeatable, with MT4, MT5 and cTrader all offered - but platforms are linked to account type and trading conditions.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses Deposit Bonus
Our Review Process

Trading Conditions

Minimum DepositUSD 50
Base currenciesEUR, USD
Number of FX Pairs28
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD0.4
GBP / USD0.4
USD / JPY0.4

Company Details

Company nameOcta Markets Inc
Founded2011
Website www.octafx.com
Type ECN/DMA
Regulators CySEC
Office locations UK, Hong Kong, Indonesia, Cyprus, Malaysia, Thailand

Deposit & Withdrawal Methods

Supported Platforms for OctaFX

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.10 / 5 4.61 / 5 3.33 / 5
Minimum DepositUSD 50AUD 100AUD 50
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, Indicies, MetalsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs2880+47
Crypto Pairs4516
Pros
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Restrictive account types
  • High minimum deposit
  • Limited market analysis
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Trust Rating 3.5 / 5 5 / 5 5 / 5
Trading Conditions 4 / 5 4.5 / 5 2 / 5
Trading Platforms 5 / 5 5 / 5 4 / 5
Deposit & Withdrawal 5 / 5 4 / 5 2 / 5
Education & Research 3.5 / 5 4.5 / 5 1.5 / 5
Assets Available 4 / 5 4.5 / 5 4 / 5
Customer Service 4 / 5 4.5 / 5 4 / 5
% Lose with this broker N/A 76.5% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage500:1500:1400:1
Spread0.0 pips0.0 pips1.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes No
Account Types
  • MT5 Pro (Professional)
  • Swap-free
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4, MT5, cTrader MT4, MT5, cTrader etoro
Funding Methods Visa, Skrill, Neteller, Bitcoin, Fasapay, Bank Transfer Bank Transfer, Visa, Mastercard, Skrill, Paypal, Unionpay, POLi, BPay Bank Transfer, Skrill, Paypal
Trading Commission 6 USD / Lot - cTrader ECN From 7 USD / lot - Razor Account Fees Included in Spread
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Overall Rating 4.10 / 5 4.61 / 5 3.33 / 5
Minimum DepositUSD 50AUD 100AUD 50
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, Indicies, MetalsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs2880+47
Crypto Pairs4516
Pros
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Restrictive account types
  • High minimum deposit
  • Limited market analysis
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Trust Rating 3.5 / 5 5 / 5 5 / 5
Trading Conditions 4 / 5 4.5 / 5 2 / 5
Trading Platforms 5 / 5 5 / 5 4 / 5
Deposit & Withdrawal 5 / 5 4 / 5 2 / 5
Education & Research 3.5 / 5 4.5 / 5 1.5 / 5
Assets Available 4 / 5 4.5 / 5 4 / 5
Customer Service 4 / 5 4.5 / 5 4 / 5
% Lose with this broker N/A 76.5% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage500:1500:1400:1
Spread0.0 pips0.0 pips1.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes No
Account Types
  • MT5 Pro (Professional)
  • Swap-free
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4, MT5, cTrader MT4, MT5, cTrader etoro
Funding Methods Visa, Skrill, Neteller, Bitcoin, Fasapay, Bank Transfer Bank Transfer, Visa, Mastercard, Skrill, Paypal, Unionpay, POLi, BPay Bank Transfer, Skrill, Paypal
Trading Commission 6 USD / Lot - cTrader ECN From 7 USD / lot - Razor Account Fees Included in Spread

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Visit OctaFX

Most retail CFD accounts lose money. Your capital is at risk.

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