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OctaFX Review

FX Author By Jeffrey Cammack Author Information Updated: July 2, 2020
Overall Rating
4.10 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

Regulation 1110.50
Trading Conditions 11110
Trading Platforms 11111
Deposit & Withdrawal 11111
Education & Research 1110.50
Assets Available 11110
Customer Service 11110
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 United Kingdom, Hong Kong, Indonesia, Cyprus, Malaysia, Thailand

Deposit & Withdrawal Methods

Supported Platforms for OctaFX

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

Compare CFD Brokers

Overall Rating 11110.5 4.10 / 5 11110.5 4.61 / 5 1110.50 3.33 / 5
Minimum DepositUSD 50AUD 100AUD 50
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
DFSA DFSA
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
Regulation 1110.50 3.5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110 4 / 5 11110.5 4.5 / 5 11000 2 / 5
Trading Platforms 11111 5 / 5 11111 5 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110 4 / 5 11000 2 / 5
Education & Research 1110.50 3.5 / 5 11110.5 4.5 / 5 10.5000 1.5 / 5
Assets Available 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker N/A 78.6% 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
Leverage500:1300:1400:1
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 cTrader , MT4 , MT5 cTrader , MT4 , MT5 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 11110.5 4.10 / 5 11110.5 4.61 / 5 1110.50 3.33 / 5
Minimum DepositUSD 50AUD 100AUD 50
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
DFSA DFSA
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
Regulation 1110.50 3.5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110 4 / 5 11110.5 4.5 / 5 11000 2 / 5
Trading Platforms 11111 5 / 5 11111 5 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110 4 / 5 11000 2 / 5
Education & Research 1110.50 3.5 / 5 11110.5 4.5 / 5 10.5000 1.5 / 5
Assets Available 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker N/A 78.6% 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
Leverage500:1300:1400:1
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 cTrader , MT4 , MT5 cTrader , MT4 , MT5 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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Alert Most retail CFD accounts lose money. Your capital is at risk.

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