Daily Digest:
w/c 4 March 2024: US stock averages higher again to end the week, prodding at record levels; upcoming week's focus on the Fed's Powell testimony before Congress and the US Employment report
Reviewed by: and verified by Steve Miley (The Market Chartist) and OctaFX.

OctaFX is regulated under CySEC and has
received several industry awards and very good reviews.

This information has been verified in March 2024 by OctaFX


Company Name:
Octa Markets Inc
MetaTrader 4, MetaTrader 5, cTrader
Payment Methods:
Visa, Bank wire, Neteller, Skrill, FasaPay, Local banks, DusuPay, Bitcoin, Nganluong, PayTM, Perfect Money
Phone Support:
Publicly Listed:
Trust Score:


Min. Deposit:
EURUSD Spread:
From 0.2 pips
Average Spread:
0.8 pips
Up to 1:500
US Clients:
Active Clients:
Dealing Desk:
Web Trading:
Managed Accounts:
Withdrawal Process Time:
Within 24 hours
CFDs Offered:
Metals, Oils, Indices, Cryptocurrencies


- Some of the lowest spreads in the industry
- No commissions or swaps
- Ultra-fast trades execution
- Instant deposits and fast withdrawals


- No FCA regulation, yet.

OctaFX Review

OctaFX does not accept UK clients anymore.

OctaFX is a quite recently formed Straight Through Processing (STP) ECN forex broker. OctaFX offers both the MetaTrader and cTrader platforms, all major currency pairs and commodities, leverage 1:500, and a minimum deposit of $5. OctaFX has been operating since 2011 out of its main center in Jakarta, Indonesia. The company is also registered in Saint Vincent and the Grenadines with license number 19776 IBC 2011 issued by the Caribbean’s Financial Services Authority or FSA. OctaFX is regulated by CySEC with the license number 372/18.

OctaFX focuses primarily on the Asian retail market and has won several notable industry awards, primarily for its service to that sector. In addition to Asia, the company has customers in more than 100 countries worldwide, but it does not presently accept U.S. based clients.

Its official website is located at www.octafx.com and a screenshot of its welcome page appears below:

OctaFX Website Screenshot

<< More Forex Brokers

OctaFX Features

OctaFX offers a professional quality execution service in all of the major currency pairs, plus precious metals like gold and silver. Furthermore, OctaFX’s decision to act as a STP ECN broker has allowed it to offer customers very tight dealing spreads, quick execution times, no slippage on orders and no re-quotes. Those key features — plus the numerous interesting promotions and contests the broker offers — makes theirs a notably attractive package for most retail traders, especially those that wish to trade more actively.

Furthermore, the broker’s very modern dealing network offers state of the art connectivity to the markets. This helps give its clients greater assurance about stability, execution, reliability and excellent liquidity from international banks. In addition, the broker conscientiously segregates its operating capital from client deposits, thereby complying with regulatory requirements and giving customers great financial security. With respect to data security, the broker uses 128-bit SSL protection when encrypting trading and personal information.

The company also offers demo accounts, as well as three different live account types that include Micro and ECN for MetaTrader 4 and ECN for cTrader. All account types can trade silver and gold, but the number of currency pairs allowed for each live account type differs, with 12 currency pairs allowed for the Micro MT4 accounts, 28 pairs for the ECN MT4 accounts and 48 pairs for the ECN cTrader accounts. In addition, swap free accounts are allowed for both of the Metatrader 4 account types, while cTrader accounts are swap free unless a trader leaves their position open over a weekend, in which case they are charged a rollover fee.

In terms of the amount of leverage available to traders, OctaFX offers leverage ratios of up to 500:1, and this ratio applies even to micro lot positions. Last, but certainly not least, those traders who wish to use strategies like scalping, hedging, news trading and Expert Advisers will not be disappointed in OctaFX, since all of those are permitted.

The broker also supports a Demo account, which beginners can use to assess the platforms and the overall trading at the site.

Platforms & Tools

Feature OctaFX
Virtual Trading(Demo)
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Social Trading / Copy Trading
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Charting - Drawing Tools(Total)
Charting - Indicators / Studies (Total)
Order Type - Trailing Stop

OctaFX will greatly please many forex traders since it offers support for the very popular MetaTrader4 and MetaTrader 5 online trading platform and its mobile apps. In addition to trade execution and order placement, these platforms offer extensive charting, technical analysis and portfolio management features. They also allow traders to use or write Expert Advisers that can automate dealing activities.

The screenshot shown below illustrates the basic functions of the OctaFX installation of MetaTrader 4, which includes market monitoring, charts and technical analysis, on screen trade execution, trade history and account management features.

The broker also supports the increasingly popular series of desktop and mobile app trading platforms offered by cTrader, which has interesting features that MetaTrader does not offer.

OctaFX Platform

Asset Classes

OctaFX supports an impressive range of tradable asset taxonomies. CFD trading is one, followed by cryptocurrencies, commodities, stocks and currency pairs.

As far as CFDs go, scores of tradable assets are supported, on MT4 as well as MT5. The maximum available leverage on this asset class is 1:50.

The broker currently supports 3 cryptocurrencies (paired with the USD): BTC, ETH and LTC. Be aware that OctaFX does not sell any cryptocurrencies to its traders. Only CFD-based trading is possible on this asset class. The maximum leverage available on crypto CFDs is 1:2.

Commodity-wise, OctaFX offers gold and silver as well as crude oil, among a number of  other tradable assets. The spreads are quite decent, although in some cases they may shoot up above 3 pips.

A total of 4 indices are available on MT4 and 10 on MT5, in addition to an impressive number of individual stocks. The leverage is 1:50 on this category.

Currency pair trading carries the best trading conditions. The maximum available leverage here is 1:500 in most cases. Some 28 currency pairs are available on all account types. Spreads start from 0.4 pips on major pairs but they can go as low as 0 pips on the ECN account.

Commission & Fees

The floating spreads on the Micro Account start from 0.4 pips, while the fixed ones start at 2 pips. On the Pro Account, spreads start from 0.2 pips and on the ECN one, from 0 pips.

Unlike the other two account types, the ECN one does charge a commission. It does not feature a markup however. The ECN account comes with a weekend fee.

Research & Education

Feature OctaFX
Daily Market Commentary
Forex News
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forexcasts
Economic News Sentiment
Trade Ideas - Backtesting

Education-wise, the official site of the broker offers a decent selection of video tutorials, as well as access to some basics on FX trading and strategies.

The tutorials section covers every featured trading platform and it goes into details on most of the available functionalities.

Customer Service

OctaFX offers 24/5 customer service that includes a live chat feature with a selection of three departments, in addition to support via e-mail and phone. The company also uses social networking sites like Facebook, Twitter, YouTube and Instagram to communicate with its clients.

With respect to educational materials, OctaFX offers various manuals to assist clients in using the two main trading platforms supported by the broker, which are MetaTrader 4, MetaTrader 5 and cTrader. These manuals cover such things as: basic trading platform functionality; ways to navigate around the platform’s interface; and tips on making successful trades. The company also offers a glossary and various tutorials for new traders on their website.

Mobile Trading

Feature OctaFX
Android App
Apple App
Charting - Draw Trend Lines
Charting - Can Turn Horizontally
Charting - Technical Studies/Indicators
Watchlist - Syncing
Trading - Forex CFDs
Trading - CFDs
Alerts - Basic Fields

The OctaFX trading app provides access to most of the tradable assets  and it looks great on smaller screens.

It lets traders deposit and withdraw funds, enable swap-free options, modify leverage and edit and restore passwords. In  word, it is a standalone trading solution, which lets traders handle every aspect of their OctaFX trading account on the go.


Although a relatively new broker on the scene, OctaFX has received several industry awards and overall good reviews from its clients, making it seem like a decent choice for a forex broker. This favorable perspective is further strengthened by their decision to offer an ECN/STP broker service, making their dealing spreads and order execution top notch.

Another positive factor for OctaFX is its support for the popular MetaTrader 4 trading platform and its newer competitor cTrader that offers some exciting and innovative features.

On the downside, this broker is very focused on currencies and precious metals, so those traders who also wish to trade stocks, other commodities and indices will probably have to find another outlet for trading those asset classes.


Is OctaFX Legitimate?

OctaFX is an online Forex brokerage, offering three trading platforms and access to scores of tradable assets. FX Daily Info named the brokerage “The Best ECN/STP Broker of 2019.” Brokers using an electronic communication network and straight-through processing do indeed have a fair business model. They do not act as market makers or parties involved in trading against their clients.
In light of these facts, yes, OctaFX is indeed a legitimate online brokerage.
On the other hand, OctaFX used to offer binary options, a trading instrument now out of favor, that was not exactly the best herald of legitimacy. Again, the broker no longer features such a trading product.
In 2015/16, OctaFX was one of the sponsors of the UK football club Southampton FC.

Is OctaFX a Good Broker?

Letting the users decide whether a broker is a good one or not is the only reasonable way to answer that question.
OctaFX is in an interesting situation on the user feedback front. They have good reviews and bad. Their score at most of the major review portals reflects this fact. This is what one would expect from a broker as old and reputable as OctaFX.
Most of their user reviews seem genuine, unlike those of some of their peers.

What do OctaFX traders like about the broker?

• Some like the trading conditions. The spreads are low, execution is quick and ECN trading is inherently fair.
• The availability of a swap-free account option is a major plus.
• The beginner-friendly nature of the broker.
• The quality of OctaFX support.
There are about as many complaints concerning OctaFX’s services as there are positive reviews.
• Some allege that the broker charges a hefty fee on withdrawals, despite advertising otherwise.
• Spread manipulation.
• Problems with the trading platforms.
OctaFX does have the potential to be a good broker. Not all users will agree with that assessment, however.

What is the Minimum Deposit for OctaFX?

The minimum deposit with an OctaFX Micro account is $5. If you intend to trade for profits, however, you should deposit more. The minimum deposit for a Pro account is $500.

Is OctaFX Regulated?

Yes. OctaFX is regulated in several jurisdictions. In Estonia, where its European base of operations is located, it is regulated by the local financial authorities. It used to possess a CySEC license in the past as well.
In St. Vincent and the Grenadines, it is licensed by the SVGFSA. Its license number is 19776.

Where is OctaFX based?

OctaFX currently maintains offices in Estonia and St Vincent and the Grenadines. The exact addresses of these offices are:
• Harju maakond, Tallinn, Lasnamae linnaosa, Sepise tn 9// Valukoja tn 8-110, Estonia.
• Suite 305, Griffith Corporate Centre, Beachmont, Kingstown.


Having started his online career back in 2005, over the years, James has written for scores of websites, covering online poker, eSports, Forex trading, binary options, and digital ledger technology... Continued

Comments on OctaFX

No information, nor financial advice related to online trading is offered through the form.
  1. is octa fx available in the UK when i try to download it says this service is not available in your country

  2. Im so annoid. Like some how you know how to trick people. I have been waiting for my withdrawals for 5 days now. This is not what terms say. This is violation.

    Worst part I do the follow ups. You just sit there and claim you keep good work ethics . I want my money octa fx

  3. $3000usd Fee for withdrawal!

    After making 12.5 lots and requesting a withdrawal request, they are charging me 3000USD of commission for deposit and withdrawal where their page is full of ads that are free.

    1. Dear Daniel,

      We asked our team to look into your complaint. If we’re not mistaken, the commission was reimbursed back to you.

      If there’s anything we can do for you please, do not hesitate to contact us.

      Kind regards,
      OctaFX Rep.

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