OctaFX Review: Regulation, Bonus, Spreads & Accounts

What is OctaFX?

OctaFX is an STP / ECN forex broker founded in 2011 and based in St. Vincent and the Grenadines. It offers forex currencies, commodities, indices, stocks, bonds, futures on MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile MT4, Web Platforms and More Trading Platforms.

OctaFX is regulated by For OctaFX.com we have only SVGFSA license no. 19776 IBC 2011. Its listed office is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines.

This review explains what you actually get: how safe the broker is, what trading costs look like, how deposits and withdrawals work, what the OctaFX bonus offers, and who the broker suits best.

• ✓Regulated since 2011 by For OctaFX.com we have only SVGFSA license no. 19776 IBC 2011, with segregated client funds.
• $Cost to start: $25 minimum deposit and spreads from 0.6 pips.
• ⚡Flexible trading: leverage up to 1:500, hedging, scalping and news trading allowed.
• %Bonus: 50% Forex Deposit Bonus, no no-deposit bonus.

More about OctaFX

OctaFX Broker Review

OctaFX is a forex and CFD’s broker, provide currency trading solution in the global market. They provide Metatrader and ctrader platforms. The broker was established in 2011. They are well regulated and a favored broker for good services. You can trade forex currency pairs, CFD, cryptocurrency, stocks, metals, etc. Let’s see their every detail you can choose as your trading broker or not.

OctaFX Overview: why should you choose the company?

The broker was founded in 2011, and the headquarter is located at Saint Vincent and the Grenadines;

The company is Regulated by SVGFSA license no.19776 IBC 2011

They achieve many industry awards for exemplary services;

The offers STP/ECN service ensures no slippage, tight spreads, fast execution, and no re-quotes;

Client support provides 24/7 on market days to fulfill client needs and solve client problems;

Offer four different types of account for all level of traders, ranging from beginners to advanced level of traders;

Metatrader trading platform and cTrader platform for advanced trading features;

Good network stability, and excellent execution;

They offer spreads starts as low as 0.6 pips;

A client can take leverage up to 1:500 leverage with micro-lots (0.01 size);

Trading on the news, EAs, Scalping, and hedging are permitted at OctaFX.

Client deposits are held on different accounts from the company account.

Regulation and Security

As their regulation and base, they are providing service worldwide,

OctaFX is registered in Saint Vincent and the Grenadines. SVGFSA license no.19776 IBC 2011

They provide Negative balance protection and client funds are held from the company funds.

Account types

OctaFX offers two different types of accounts. These accounts are designed for all levels of traders to provide full features and a special experience. Here are features of all trading accounts:

OctaFX MT5

Recommended for: Smart trader

Floating, starting at 0.6 pips

32 currency pairs, three energies, ten indices, five cryptocurrencies, gold and silver

Maximum trading volume 500 lots

Margin call/stop out level 25% / 15%

Leverages are

• 1:500 for currencies
• (1:100 for ZARJPY)
• 1:200 for metals
• 1:100 for energies
• 1:50 for indices
• 1:10 for cryptocurrencies

OctaFX MT4

Recommended for: Habitual trader

Floating, starting at 0.6 pips

32 currency pairs, three energies, four indices, five cryptocurrencies, gold and silver

Maximum trading volume 200 lots

Margin call/stop out level 25% / 15%

Leverages are

• 1:500 for currencies
• (1:100 for ZARJPY)
• 1:200 for metals
• 1:100 for energies
• 1:50 for indices
• 1:10 for cryptocurrencies

Leverages are

• Up to 1:500 for currencies
• 1:200 for metals

Demo account

The broker offers a demo account. It’s completely free to start. The account mostly designed to practice trading but sometimes experts also play to check services. Both MT4 and MT5 platforms are available for demo traders. A fantastic thing is they offer demo contests regularly to make their clients happy.

Islamic account

It’s a swap-free trading account. The account is designed for Islamic traders. It also offers negative balance protection. MT4, MT5 and cTrader platforms are available for this account.

OctaFX Trading platforms

The broker offers MetaTrader trading platforms:

MetaTrader4

It’s one of the most popular trading platforms. The platform was established in 2005 by MetaQuotes Software. This platform features are:

• CFD and Cryptocurrency trading
• Clear and beginner’s friendly interface
• Reliable Virtual Private Server service
• Interactive, customizable charts
• Expert Advisors and Custom Indicators

MetaTrader5

It is an updated version of the Mt4 platform. It is designed to provide more and advanced features. The most important components are:

• Integrated development environment for EAs
• Unique interface which is known as highly customizable
• Stop Limit orders and built-in economic calendar
• one-click trading tools and ultra-fast execution

All platforms can be accessed via web browser, and the downloadable version available for both pc and mobile devices. Additionally, you can download apps from their website, apple app storeandgoogle play store. All apps and web version are completely free to download and access.

OctaFX Deposits and Withdrawals

The broker offers flexible payment options for their clients. They accept a wide range of payment options, including local and global. In addition, they get both crypto and fiat currency payments. Traders are eligible to use Skrill, Neteller, debit cards, credit cards, cryptocurrency and Bitcoin.

The offers commission-free deposit and withdrawal, and there are no hidden charges. The deposit and withdrawal processing times are faster, but it may take up to 30 minutes to process deposits through bitcoin and cryptocurrency. The withdrawal time is up to 3 hours for every gateway.

Promotions and bonuses

This forex broker is well known for a different type of bonuses. The provides fantastic bonuses such as welcome bonus, deposit bonus and contests. They regularly offer a 50% deposit bonus on every deposit and superb competitions which prizes are cars, iPhone, trips and more.

Client support

OctaFX is a popular forex broker for good client service. They provide 24/7 client service on the market days. They provide client support via different mediums. Clients can get support via live chat, contact form, telegram and a few supports via social media. The contacts are:

Also, there is a FAQ section on their website covering all common question answers, including the company, payment options, account options, etc.

‘OctaFX is a trusted experienced global broker that offers a user-friendly platform and a wide selection of trading instruments. OctaFX acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to over 6.6 million trading accounts worldwide.’The OctaFX Trading App and the OctaFX Copytrading App are cherished by investors and traders for their intuitive interface—proven by corresponding awards and users' reviews in Google Play.

Is OctaFX safe and regulated?

OctaFX is supervised by 1 authority. Our listing shows these licences:

Client money is held in segregated accounts, separate from the company's own funds. Before you sign up, check which OctaFX company will hold your account, because protection levels can differ between regions.

OctaFX account types and trading conditions

These are the main trading conditions listed for OctaFX. It offers Islamic, mini, VIP, managed accounts.

OctaFX trading platforms

OctaFX supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile MT4, Web Platforms and More Trading Platforms. MetaTrader 4 remains the favourite for forex and Expert Advisors. MetaTrader 5 adds more timeframes and better access to stocks and other non-forex markets.

Web and mobile trading

Web trading: Yes. Mobile trading: Yes. Markets available: Forex Currencies, Commodities, Indices, Stocks, Bonds, Futures. The website is available in English, Chinese, Indonesian, Vietnamese, Thai, Bahasa Malaysia, Brunei Malaysia, Arabic and more.

OctaFX deposit and withdrawal methods

OctaFX accepts these deposit methods:

• Bank wire
• Debit/Credit card
• Neteller
• Skrill
• FasaPay
• Local Payment means in: Indonesia
• Malaysia
• Bangladesh
• Pakistan
• Nigeria
• Thailand
• India

Withdrawals use the same methods as deposits.

Accounts can be held in USD, AED, EURO, AUD, GBP, CHF, JPY, NZD, CAD, CAD. Choosing the currency you deposit in avoids conversion fees. Your account must be verified (ID and proof of address) before the first withdrawal.

OctaFX bonus and promotions

These are the promotions listed for OctaFX:

OctaFX no deposit bonus: OctaFX does not offer a no deposit bonus. See our up-to-date list of forex no deposit bonus offers. Every offer has volume and time conditions, so read the terms first.

OctaFX pros and cons

How to open an OctaFX account

1. RegisterClick "Visit Broker" and fill in your name, email, country and password.
2. Verify your profileUpload a passport or ID card and a recent utility bill or bank statement.
3. Choose an accountPick the account type, base currency and leverage that suit you.
4. Fund and claim the bonusDeposit from $25 and opt in to the promotion if your region qualifies.
5. Start tradingLog in to MT4, MT5, Web. Practise first on a free demo account.

Open an OctaFX account ↗

OctaFX customer support and contact

These are the contact details we have on file for OctaFX:

Final verdict: should you trade with OctaFX?

OctaFX scores 4.2 out of 5 in our review. Its strongest points are its For OctaFX.com we have only SVGFSA license no. 19776 IBC 2011 licence, an affordable $25 minimum deposit and full MetaTrader 4 and 5 support. Keep in mind: no no-deposit bonus; very high 1:500 leverage greatly increases the risk of loss.

If your main goal is a free no-deposit bonus, OctaFX is not the right fit. Compare it with other options on our best forex brokers page before deciding.