OctaFX started in 2011. It’s a broker in St. Vincent and the Grenadines. Their website says they have more than 21 million trading accounts in 180 countries. They offer 230 CFDs on different things like forex, commodities, indices, and cryptocurrencies. You can use MetaTrader 4, MetaTrader 5, or their own OctaTrader to trade. They serve both people and groups who want to trade.

OctaFX is one of many brokers you can find online for trading. They follow strict rules to keep trading safe. OctaFX gives lots of options for trading. They offer many investment opportunities to traders around the world.

🏢 Headquarters Saint Vincent and the Grenadines
🗺️ Regulation (MISA (Comoros), SVG FSA (Saint Vincent and the Grenadines), CySEC (Cyprus), FSCA (South Africa))
💻 Trading platform: MetaTrader 4, MetaTrader 5, OctaTrader
📊 Accounts: ECN, STP
💰 Account currency: USD, EUR
Trading features:
💵 Withdrawal: Wire Transfer, Credit Card, Debit Card, Moneybookers, Perfect Money, Neteller, Skrill, FasaPay, Local Deposits, Bitcoin
🚀 Minimum deposit: 25 USD
⚖️ Leverage: 1:500
💼 PAMM-accounts: None
📈️ Min Order:
🎮 Demo Account Yes
💱 Spread: From 0.6 pips
🔧 Instruments: Forex, CFDs, indices, commodities, cryptocurrencies
📋 Orders execution: Market
☎ Customer Support 24/7, Email support, Social Media, Live Chat & FAQs
📚 Education
Webinars, Articles, Video Course,Glossary, FAQs


Octa used to have trouble with pricing, but now they’re much better and are catching up to the cheapest MetaTrader brokers. Also, Octa hardly ever has any issues with order delays or extra costs, except for some rules that might slow down traders who make a lot of trades quickly.

Pros and Cons

Pros Cons
  • Octa started in 2011 and follows rules in one top-tier place and one second-tier place.
  • If you’re working with Octa’s Mwali part, you don’t get as much protection from rules as you would with other, more trusted places.
  • They give you lots of helpful research, like trading ideas, daily updates, weekly forecasts, and stuff from other people.
  • You can’t do arbitrage, and if your trading robot asks for stuff more than 30 times per minute on MT4, they might ban it.
  • Octa has its own special platform for social copy trading, and they have the OctaTrader web platform.
  • Octa seems to have good trading costs, but they don’t show when those prices were valid.
  • They offer accounts where you don’t pay swaps and accounts that follow Sharia law.
  • You can’t trade a lot of different things; there are only about 230 options on MT5 and 80 on their OctaTrader platform.
  • They set your margin based on how much money you have, which helps keep you from using too much borrowed money.
  • Even though Octa is trying to improve their research, they’re not as good as the best brokers at it.
  • They don’t offer the cTrader platform anymore.


Octa charges different prices depending on which of its offices oversees your account. For instance, its EU office offers slightly better prices for trading EUR/USD, with an average spread of 0.5 pips, compared to 0.9 pips for other offices. It’s important to know that Octa doesn’t mention the time period for its typical prices listed on its website. So, these values aren’t as reliable as prices with a specific date. Overall, Octa has improved its prices and seems to be competitive with the cheapest MetaTrader brokers. But without knowing the time frame for its average spread claim, we couldn’t make an exact comparison.

OctaFX Regulation and Security

Different regulators give different protections. For instance, OCTA’s clients in the European Union get watched over by the Cyprus Securities and Exchange Commission (CySEC). CySEC makes sure clients won’t lose more than what they deposit.

OctaFX has approval from one Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), no Tier-3 regulators (Average Risk), and no Tier-4 regulators (High Risk). OctaFX gets approval from these Tier-1 regulators: Regulated in Cyprus and in the European Union through the MiFID passporting system.

Is OctaFX Legit or Scam?

No, OctaFX is not a scam. It offers a secure trading space. OctaFX started in 2011. It has operated under various licenses, including one from SVG, ran a branch in the UK, but stopped it in 2017 and chose Cyprus as its next base. So, up to now, OctaFX is a Cyprus Broker.

Deposits and Withdrawals

Accessing your money easily and conveniently is important when dealing with a regulated broker like Octa. With Octa, you can easily deposit money into your account through a bank without any hassle, thanks to its strict money management rules.

Octa Cyprus, as a licensed broker, only offers Bank Wire Transfer for its European clients. For international clients, additional options like Credit Cards and e-wallets are available, but it’s best to confirm with customer service before making any transfers.

You can start trading with Octa with a minimum deposit of $25. However, the minimum deposit amount might vary based on where you live and the payment method you choose.

When it comes to withdrawing your funds from Octa, all accounts can use Bank Wire Transfer. Credit Cards are not supported for Cyprus accounts. Octa covers withdrawal fees, and you can expect to receive your money relatively quickly. While Octa usually confirms withdrawals within 1-2 business days, remember to allow extra time for your bank to process the transaction.

Here’s how you can withdraw money from Octa:

  • Log in to your account.
  • Select “Withdraw Funds” from the menu.
  • Fill out the withdrawal form with the amount you want to withdraw.
  • Choose your preferred withdrawal method.
  • Complete any necessary form requirements.
  • Review withdrawal details and submit the request.

If you need any assistance, Octa’s help center is available to guide you through the process.


Octa is quite well-known and has been operating for a while. It got its European license in second place. Over the years, Octa has seen significant growth and development compared to its earlier offerings. It has participated in various exhibitions and received many international awards. There’s also a large number of active traders registered with the company. All of this confirms Octa’s status and reputation in the industry.

OctaFX Leverage

One reason traders are attracted to forex and CFD markets is the high leverage available. Leverage means using borrowed money to make larger trades than you could with just your own cash.

At OCTA, the maximum leverage is 1:500 globally. This means with a $1,000 account, you can control up to $500,000 worth of trades. Leverage can help or hurt traders because it magnifies both profits and losses.

Investment Programs and Account Types

According to the Octa review, it offers three trading platforms with different account types: Octa MT4, Octa MT5, and OctaTrader ECN.

Octa MT4 Account

To start trading, you need to create a Trading Account in your Personal Area. The Octa MetaTrader 4 account, also called the Micro Account, is for new investors. It allows them to start with small funds, hence the term ‘Micro Account’.

In Octa MetaTrader 4 trading, fixed spreads start from 0.6 pips. There are no fees for this account, and the minimum deposit is $25. Leverage for the mt4 account is 1:500 for currencies, 1:200 for metals, 1:25 for cryptocurrencies, and 1:50 for indices. The mt4 account offers 32 currency pairs, gold and silver, three cryptocurrencies, and four indices.

Pro Account

The Pro Account, also known as the MT5 Account, is for experienced traders. It offers lower trading spreads. There are no fees for this account, and the minimum deposit is $500. Leverage for the mt5 account is 1:200 for currencies, 1:100 for metals, 1:25 for cryptocurrencies, and 1:50 for indices. The mt5 account offers 32 currency pairs, four metals, three cryptocurrencies, and 10 indices. Octa traders can also trade 150 CFDs on stocks from 16 exchanges with 1:20 leverage and no commission.

Demo Account

Before trading with a live account, it’s best to open a risk-free Forex demo account. Octa’s Demo Account offers the same experience as real accounts but with simulated funds. You just need to sign up and create one to get started.

Champion Demo Contest

Every Octa client can participate in the Champion Demo Contest by trading in a demo account. The top 5 users with the highest balance by the end of the contest round can win prizes ranging from $500 to $40. To participate, log in or sign up, open a new Champion contest account, download the MT4 platform or use the browser version, trade starting from 8 May, and aim for the highest balance to win a prize.

Trading Platforms

We really like the Octa platform the most. You can choose between two great software options: the industry-leading MetaTrader5 and the newer version with all the benefits, which isn’t limited. The broker also offers the older MT4 option for clients who prefer it.

The Octa trading platform offers three well-known account types: MT4, MT5, and OctaTrader.

MetaTrader 4

The Octa broker website works just like the desktop platform of MetaTrader 4. This is great for skilled traders who want good charting services. It gives Forex traders a good environment for trading.

MetaTrader 4 (MT4) makes digital trading easy with lots of tools to choose from. The MT4 Micro Account has the lowest trade spreads. With this account, traders can use 39 trading tools. For EUR/USD trades, the spread is 0.7 pips. The MT4 Micro account offers 28 currency pairs, gold, and silver for trading.

MetaTrader 5

Octa broker offers the MetaTrader 5 (MT5) Pro Account, which is very profitable for experienced investors and new traders alike.

The Octa MetaTrader 5 (MT5) platform is user-friendly and has new features. It’s a comprehensive trading platform. However, automated trading scripts like expert advisors aren’t supported.

Octa MetaTrader 5 offers automated trading indicators and important trading patterns. Traders get 21 timestamps, graphs, and support for additional order products. The exclusive MT5 Pro account offers 45 trading tools with a $500 deposit and meets higher margin requirements.


OctaTrader is a built-in trading platform available on the web and as an app. It uses charting technology by TradingView. It provides currency rates and tools to track markets, news, and events like the Economic Calendar.

Customer Service

Most of the time, trading with Octa is smooth and reliable. But if you need help or have questions, you can easily reach the Octa customer support team through live chat. This feature is available on the mobile app, social media channels, email, and their website 24/7. The customer support team gets positive reviews.

Frequently Asked Questions

Is OctaFX a good broker?

According to OctaFX’s website, it follows international laws and can operate globally.

What is the minimum deposit for OctaFX?

The lowest deposit recommended is $25.

What are the withdrawal fees at OctaFX?

OctaFX doesn’t charge any fees for withdrawals.

Who Owns OctaFX?

OctaFX is owned by Octa Markets Cyprus Ltd and is registered in Saint Vincent and the Grenadines. Octa Markets Cyprus Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18, Saint Vincent and the Grenadines (FSA) with license number 19776, and South Africa: FSCA with license number 51913.

Does OctaFX offer a demo account?

Yes, OctaFX provides demo accounts through the MetaTrader 4, MetaTrader 5, and OctaTrader platforms.

Is OctaFX suitable for scalping?

Yes, OctaFX offers tight spreads on popular instruments and features like 1-click trading, which are beneficial for scalpers.

Is OctaFX suitable for auto-trading?

Yes, OctaFX offers MetaTrader 4 and MetaTrader 5 platforms, enabling automated trading and strategy backtesting.

Is OctaFX regulated?

OctaFX is regulated by both the FSCA and CySEC, ensuring compliance with financial standards and regulations.

How long does it take to withdraw money from OctaFX?

Withdrawal processing time can be up to 3 hours, depending on the method chosen.

Does OctaFX provide VPS?

No, OctaFX does not offer VPS hosting.

Which country banned Octa?

Indian authorities recently declared OctaFX, along with other brokers like eToro, Exness, and XTB, as operating illegally in India due to a lack of proper authorization.

Prohibited countries are Belarus, Cuba, USA, Cyprus, Iran, Iraq, Kazakhstan, Libya, Niger, North Korea, Russia, Sudan, Syrian Arab Republic, Ukraine, and the U.S. Virgin Islands

Is OctaFX legit?

Yes, OctaFX is a legitimate forex broker. It was awarded ‘Most Reliable Broker Asia 2023’ and has a high trust score according to user reviews.

OctaFX Licenses

Octa Markets Cyprus Ltd Authorized by CySEC (Cyprus) registration no. 372/18

OctaFX Review Conclusion

In our review, we found OctaFX is really easy to use. It offers the lowest trading costs for forex online. Octa follows strict rules set by CySec, ensuring user funds are safe with high-grade encryption. Over four million traders trust Octa for global market access. Octa puts user experience first, offering negative balance protection to all. They provide CFDs and other instruments, including popular indices. Notably, Octa doesn’t charge fees for fast deposits and withdrawals. Overall, we think Octa is an innovative broker that really cares about its clients.


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