Read our in-depth forex broker review on OctaFX ✅ Find out how this brokers broker compares to others.
Overall Rating


Top 5 Forex Brokers

Read our in-depth OctaFX review below. According to our research, this is certainly one of the best online brokers in forex.


Found in 2011, OctaFX is a respectable forex and CFD brokerage firm with its headquarters located in St Vincent & The Grenadines/ London.

Is the OctaFX regulated? Yes, the online broker is regulated by CySEC.

At Octa FX, clients can trade a range of trading instruments, such as Forex, Commodities, Stock Indices, and Cryptocurrencies.

The broker also offers a variety of trading platforms to its traders, including MetaTrader 5 (MT5), MetaTrader 4 (MT4), and cTrader.


Established in 2011, OctaFX is a registered company in St.Vincent & the Grenadines. They provide various trading instruments, such as Forex, Commodities, Indices, and Cryptocurrencies. At OctaFX, clients can choose to trade on the MetaTrader 5 (MT5), the MetaTrader 4 (MT4), or the cTrader platforms.

OctaFX’s services and features are created based on the trading needs of both professional and beginner traders. They are considered as one of the best STP/ECN brokers in the industry. Even though OctaFX is internationally recognised with customers/traders from more than 100 countries, most of its clients are from Asia.

OctaFX is a deep-rooted CFD (Contract for Difference) and Forex broker, regulated under the Cyprus Securities & Exchange Commission (CySEC). The company has grown substantially since 2011 and offers a variety of valuable trading tools that may appeal to both professional and beginner traders.

The broker guarantees trustworthy Forex trading conditions for all types of traders with different skill levels. At OctaFX, traders can expect the following:

  • Deposits and withdrawals with no commissions
  • No swaps
  • No slippage
  • No delays
  • Swift deposits and withdrawals
  • Rewarding loyalty program
  • Octa FX bonus: 50% deposit bonus
  • Tight Spreads

OctaFX provides high standards for ensuring protected trading environments while assisting its clients to develop the necessary expertise and knowledge in order to trade responsibly. In 2017, OctaFX also put out a range of educational tools and videos to help traders develop stronger futures.



  • Low spreads
  • Negative balance protection
  • Fast execution
  • No slippage
  • Zero commissions charged on deposits
  • Zero commissions charged on withdrawals
  • Zero commissions charged on currency exchange
  • Wide variety of trading accounts available
  • Up to 1:500 on Forex ECN
  • OctaFX MT4, MT5, and cTrader trading platforms available
  • Octa FX copy trading available
  • Demo broker account available
  • Advanced technology
  • Good customer support


  • Only some degree of commodity markets
  • Lack of deposit and withdrawal options
  • No VPS
  • Lack of 24/7 customer support
  • Arbitrage strategies not allowed

Pepperstone Forex Broker Review




OctaFX has a range of trading instruments on offer, including Forex, Commodities, Stock Indices, and Cryptocurrencies.

At OctaFX, no hidden commission are charged to its clients and traders. They also offer negative balance protection, which means that your broker account balance will not go into negative amounts as a result of an unsuccessful order.

Traders can decide between floating or fixed spreads at OctaFX. There is also a fixed-spread account for clients who wish to see precisely their trading expenditures compared to their trading profits. At OctaFX, traders can expect the following when trading forex:

  • Low spreads on currency pairs
  • OctaFX Minimum deposit of 5 USD
  • Leverage ratio of 1:500 on OctaFX MT4 and cTrader accounts.
  • No slippage
  • Instant order execution
  • A number of various education materials for forex trading
  • Prepared trading data (market insights, trading signals, economic calendar forex, etc.).


Commodities are real and physical assets that can be traded. Commodities consist of metals (gold, silver, copper and platinum), as well as other resources like natural gas and crude oil.

Commodities are extremely valuable for traders since they do not have a large connection with the fluctuations of the stock market and currencies. This means that commodities are valuable for building a diverse and steady investment portfolio.

Traders can trade CFDs across a number of commodities at OctaFX, such as XAGUSD (Silver on Spot), XAUUSD (Gold on Spot), XBRUSD (Brent Crude Oil), and XTIUSD (WTI crude oil), with no commission.

At OctaFX, traders can expect the following when trading commodities:

  • No Commissions on Round-Turns. At OctaFX, there are no commissions and traders can focus on making a profit.
  • Narrow bid-ask spreads/Tight spreads
  • Flexible leverage of equal to 1:100. Leverage can amplify the return on a trader’s investment.
  • Free market insights in order to stay updated with market news and analysis.


Stock Indices

When referring to the stock market, one generally thinks of purchasing or selling the stocks of certain companies. A stock index, however, represents the average value movement of a group of stocks. OctaFX offers Stock index CFDs where traders can profit from major indices.

OctaFX offers the following 10 popular stock indices for trading purposes:

  • The Dow Jones Industrial Index (US30) – The Dow Jones industrial index is considered as a very popular index amongst traders.
  • The Standard and Poor’s 500 Index (SPX500) – A very popular index that is shaped by the share prices of 500 biggest companies in the US.
  • The NASDAQ 100 Index (NAS100) – The NASDAQ 100 index reveals numerous industries consisting of telecommunications, computer hardware & software, retail & wholesale trade, and biotechnology.
  • The ASX 200 Index (AUS200) – Measurement of the fluctuation of several segments of the Australian Stock market.
  • Nikkei 225 Index (JPN225) – A stock index consisting of Japan’s 225 best companies, such as Toyota, Canon, and Sony.
  • Eurostoxx 50 Index (EUSTX50) – A cap-weighted index (CWI) consisting of the biggest companies across a number of industries, such as SIEMENS.
  • DAX 30 (GER30) – The German DAX (GER30) consists of the 30 best companies trading on the Frankfurt Stock Exchange.
  • IBEX 35 (ESP35) – The IBEX 35 consist of 35 of the most liquid Spanish stocks.
  • CAC 40 (FRA40) – The CAC 40 consists of the 40 best stocks traded on the Euronext Paris stock market.
  • FTSE 100 (UK100) – Otherwise known as the footsie, consists of the 100 best blue-chip companies on the London Stock Exchange.



At OctaFX, cryptocurrencies can be traded on either the MT4 (MetaTrader 4), or MT5 (MetaTrader 5) platforms. The following cryptocurrency trading options are available at OctaFX:

  • BTC/USD – Bitcoin vs. US Dollar
  • ETH/USD – Ethereum vs. US Dollar
  • LTC/USD – Litecoin vs. US Dollar

Cryptocurrencies can be traded with a leverage of up to 1:2, which means that traders can buy or sell twice as much. A minimum amount of 100 USD is required in order to start trading Bitcoin (BTC).


At OctaFX, you can choose between the MT4, MT5, or cTrader trading platforms for Web (Windows & Mac) and Windows Desktop. However, it is possible for a platform to be connected to a certain broker account type which can have a significant impact on trading conditions. The three mentioned platform types all have their respective associated trading accounts.

All of the above-mentioned trading platforms provide benefits to new and professional traders. The cTrader platform is OctaFX’s best trading platform (proprietary platform) that is aimed at professional forex traders.

The fact that OctaFX also offers the MT4 and MT5 trading platforms validates its reputation as a serious broker. A lot of brokers make use of the MT4 or MT5 platforms unless the broker has its own software, such as OctaFX’s cTrader.

MT4 (MetaTrader 4)

MT4 offers a simple yet high-quality service that accommodates new and professional traders. MT4 can also be set and customised for Islamic Trading.

MetaTrader 4 is possibly the most recognised trading platform in the industry and is used by numerous brokers globally. This platform is perfect for new traders who want a more user-friendly trading platform. OctaFX offers the MT4 platform to its clients and traders to allow them to execute their trading activities efficiently.

OctaFX has a range of educational material available for trading purposes, along with an MT4 Demo broker account, in order for its clients to develop risk-free trading skills. With MT4, you have a choice to trade with a number of currency pairs, along with cryptocurrencies and CFDs.

The MT4 user-friendly platform has turned into a beloved platform for countless traders and brokers. The MT 4 platform has a variety of valuable trading tools and techniques available, such as:

  • Market indicators
  • Charting tools
  • Advanced risk management
  • Scripts
  • Instant market execution.

The OctaFX MT4 platform delivers a range of different features, such as one-click trading options, 9 different timeframes, forex trading, limited commodities, and indices The MetaTrader 4 platform is available in a web-based format, PC & Mac versions, and a mobile version that is compatible with iOS & Android systems.

MT5 (MetaTrader 5)

The MetaTrader 5 (MT5) is a multi-asset platform that will substitute the MetaTrader 4 platform in due course. This trading platform consists of numerous trading features that are superior to various other trading platforms in the world.

The OctaFX MT5 platform delivers a range of different features, including advanced order functionality, market depth charts, 21 different timeframes, an economic calendar, and more trading instruments compared to the MT4 platform.  This platform delivers exceptional trading potentials and technical analysis.

The MT5’s layout differs from the MetaTrader 4 platform, so users will have to spend some time to adapt to MT5. Traders will have the option to use one-click trading with the MetaTrader 5 platform. The MetaTrader 5 platform is also available in a web-based format, PC & Mac versions, and a mobile version that is compatible with iOS & Android systems.


OctaFX’s in-house platform (cTrader) is a strong and all-inclusive trading platform, created specifically for trading forex and CFD. The software for this platform allows traders to trade in the actual market environment. With this platform, different orders can be performed all together, and traders can trade without any queues.

The OctaFX’s cTrader platform delivers a range of different features, including market depth, 26 different timeframes, and forex & metals trading instruments.

OctaFX’s cTrader provides for all types of traders, mainly for traders that require flexibility and trading convenience. This platform can be modified to suit individual preferences without any difficulty.

Traders can develop their own charting indicators on OctaFX’s cTrader, even though there are 70 different indicators already available on the platform. OctaFX’s cTrader can be downloaded onto your PC and is also available on mobile devices and through web-browsers.

OctaFX’s cTrader is a relatively new software option, but has already grown with many users taking advantage of this platform. The platform is very customisable and definitely worth trying out, as there is also the choice to use the free demo account.


OctaFX offers 3 different trading account types to choose from, consisting of the Micro Account (MetaTrader 4), the Pro Account (MetaTrader 5), and the ECN Account (cTrader). These account types are all different and subject to the chosen or preferred trading platform.

OctaFX’s three accounts provide exclusive features for experienced or new traders. OctaFX also provides a Copy Trading account, a Swap-free account, and a demo trading account.

As indicated, OctaFX has three main account types for trading purposes. The type of account that you choose will determine the type of trading platform that will be applicable, as well as the related trading fees to the chosen account.

These account types also differ in terms of the type of trading instruments available, as well as the applicable minimum deposits and the allowable leverage. OctaFX has a quick and easy process of opening an account through the “Open Account”-tab on OctaFX’s website.

Micro Account (MetaTrader 4)

The Micro Account does not charge any commissions and is recommended for the novice trader. The Micro Account (MetaTrader 4) consists of the following specifications:

  • The Micro Account can only work with the MetaTrader 4 platform
  • Various account currencies are available
  • Floating spreads from 0.4 pips
  • Fixed spreads from 2 pips
  • Fixed leverage up to 1:500
  • Market execution
  • Hedging is allowed.
  • No hidden commissions.
  • An OctaFX Minimum deposit of 100 USD
  • Margin call of 25%.
  • Swaps are optional
  • CFDs can be traded
  • Cryptocurrencies can be traded
  • iOS and Android apps available
  • Web trading available
  • Auto trading available
  • Real-time market news
  • Demo account available


Pro Account (MetaTrader 5)

The Pro Account is designed and created for the more experienced trader. The Pro Account (MetaTrader 5) consists of the following specifications:

  • The Pro Account can only work with the MetaTrader 5 platform.
  • Various account currencies are available
  • Floating spreads from 0.2 pips
  • Fixed leverage up to 1:200
  • Market execution
  • Hedging is allowed.
  • No hidden commissions.
  • An OctaFX Minimum deposit of 500 USD
  • Margin call of 45%.
  • CFDs can be traded
  • Cryptocurrencies can be traded
  • iOS and Android apps available
  • Web trading available
  • Auto trading available
  • Real-time market news
  • Demo account available


ECN Account (cTrader)

The cTrader ECN Account is designed and created for the more progressive trader. The ECN Account (cTrader) consists of the following specifications:

  • The ECN Account can only work with the cTrader platform.
  • Various account currencies are available
  • Floating spreads from 0 pips
  • Fixed leverage up to 1:500 for currencies
  • Fixed leverage up to 1:200 for metals
  • Market execution
  • Hedging is allowed.
  • An OctaFX Minimum deposit of 100 USD
  • Margin call of 25%.
  • CFDs cannot be traded
  • Cryptocurrencies cannot be traded
  • iOS and Android apps available
  • Web trading available
  • Auto trading available
  • Demo account available

HOW TO OPEN AN ACCOUNT provides a user-friendly and fast account opening process that is hassle-free and fully digital. You can complete the application process within a few minutes.

  1. The first step is to choose the “Open Account” option on OctaFX’s website.
  2. Complete the application form by filling in your name, email address, and password info.
  3. You will be directed to a page where you will be required to fill in your physical address, phone details, and birth date.
  4. Choose the type of account platform that you would like to open. At this point, you can also choose to open a real-, demo -or an Islamic swap-free account. Here, you can also set your preferred base currency, leverage as well as other features.
  5. Once you have completed the application and selected your chosen options, you will be directed towards the OctaFX Personal Area.
  6. At the OctaFX Personal area, you will be able to deposit and withdraw funds, open more trading accounts, and enter contests.

The broker’s Personal Area is outstanding. You can access many trading-related functions from the Personal Area, including:

  • Monitor your live and demo accounts
  • Open new or more trading accounts
  • See different contests and promotions on offer
  • Access OctaFX copy trading

According to our research, there are no limitations on who are allowed to open a trading account with the broker.

When opening an account with OctaFX, you will not be required to provide a lot of information. However, you will be required to provide more personal information when withdrawing funds from your trading account.


OctaFX Demo Account

The OctaFX Demo Account is basically a training account for traders, which is accessible by an easy registration process. The demo account allows you to practice with unlimited virtual money to ultimately teach you how to lower your trading risks when trading with real money.

The demo account consists of all the real account features and allows traders to use the demo account for free, trade with computer-generated (virtual) money, learn all the features of a certain trading platform, and try-out different order types.

OctaFX Copy trading

OctaFX provides its clients with an opportunity to copy the best traders in the world and to potentially diversify their trading portfolios.

  1. Sign up with OctaFX Copy trading
  2. Make a deposit into your Wallet
  3. Search for traders that you want to follow and select ‘Copy’

With OctaFX Copy trading, traders are in full control and can change or end copying trades whenever they like.


OctaFX’s commissions and fees are structured in a different way for each account type. There is a variation in the commissions and fees due to the fact that the three account types use respective software platforms.


At OctaFX, each account type has a different allowable leverage for traders to take out. The amount of leverage also depends on the type of trading instrument that you are trading. Using a higher leverage can potentially increase your trading capital, but it can also put your investment at great risk.

OctaFX provides a maximum leverage of 1:500. As OctaFX is a CFD broker, traders are trading on margin and with leverage, whereby their profits and losses are increased by the leverage factor.


Payments/Deposits to OctaFX can only be done in EUR or USD. There are no deposits or withdrawal fees charged by the broker and there are many deposit/withdrawal options available.

Deposits and withdrawals can only be made using the following options:

  • Visa
  • Bitcoin
  • Neteller
  • Skrill



OctaFX provides 24/5 customer support via email, phone, live chat, WhatsApp and through enquiry forms. Clients can get hold of the broker in various languages, such as Chinese, English, Indonesian, Hindi, and others.

OctaFX’s customer support has a good reputation for swift replies, and for the ability to respond to your inquiry at the first attempt.


The broker has an extensive range of trading tools available on its website, including the following:

  • Market Insights
  • Economic Calendar forex
  • Profit Calculator
  • Forex News
  • Trading Calculator
  • Live Quotes Monitoring
  • Interest Rates
  • National Holidays

With OctaFX, traders can do live quotes and monitor different accounts to see the following:

  • Trading Performance
  • Trading Charts
  • Trading Profits
  • Trading Orders
  • History of other traders

OctaFX also delivers video content to its traders, as well as a few archived webinars and educational content. At OctaFX, you can expect to receive a good basis for its research offering.


The brokerage firm provides a variety of educational videos, articles, and tutorials for all types of traders. An online trading academy named is also available for traders who are just starting out.

On their website, you can find guidelines on how to set up the MT (MetaTrader) or cTrader platforms. These guidelines will also show how to use the trading platforms and their respective functions.

The educational section on OctaFX’s website delivers simple teaching on forex, ECN trading, risk management, trading strategies, pair correlations, Fibonacci retracements, and technical analysis.

A range of educational tools is available to help traders grow to become more experienced and professional in trading.

  • Tutorials – The broker’s tutorials cover all aspects of trading to get you started – from the basics of forex trading to predicting the market. The tutorial section on the website also covers other aspects, including education on trading platforms, Copy-trading, Auto-chartist, and CFDs. Every tutorial is easy to understand with a combination of video and text.
  • Forex Basics – The Company has its own educational section on the website that focuses on the basics of forex. This educational section consists of a variety of articles.
  • Articles – In-depth and well-written educational articles on trading. These articles provide great advice for all types of traders. However, these article topics are not available in video format.
  • Manuals – The broker has manuals available that can be used to better understand the various trading platforms, such as the MetaTrader -and cTrader platforms.
  • Video tutorials – Video tutorials can be found on the website’s educational section. These tutorials provide information on several topics, such as how to use the different trading platforms that OctaFX offers.
  • Glossary – A glossary is presented with many terminologies accompanied by their respective definitions.
  • FAQ – An FAQ section is also located on the broker’s website with answers to numerous basic questions that are frequently asked by traders.



Currently, the broker offers a 100% bonus for each deposit made. This OctaFX bonus ensures that traders have additional funds in order to carry on trading.

The Octa FX bonus also ensures that traders have enough money to make higher margin trades, without worrying about the risk. Traders can decide between different payment options, including bank wire transfer, Netteller, Skrill, and credit card.


Octa FX has two contests on offer – the OctaFX Champion and the eTrader weekly. Traders can visit the broker’s FAQ section on the website to get more information on the contests.

OctaFX Champion

With this contest, the contestant with the highest balance of each round wins. Follow the steps below to join the contest:

  1. Sign up or log in Octa FX
  2. Select the “OctaFX Champion” option and open an account
  3. Use the MT4 trading platform on the browser or download the platform.
  4. Wait for the contest to start
  5. Take part in the contest and compete for a prize


eTrader Weekly

With this contest, the contestant with the highest balance of each round wins. Follow the steps below to join the contest:

  1. Sign up or log in with OctaFX
  2. Select the “eTrader Weekly” option and open an account
  3. Use the cTrader trading platform on the browser or download the platform.
  4. Wait for the contest to start
  5. Take part in the contest and compete for a prize



OctaFX is definitely not a scam and the broker ensures that its client’s funds are protected. Traders can be guaranteed that their deposits are secured in all ways with this reliable and trusted broker.

Is OctaFX legit?

Accounts are segregated – Separate accounts are used to keep clients’ funds segregated from the brokerage firm’s balance sheets. This is done in compliance with the standards of global regulations.

OctaFX Personal area is SSL-protected – Advanced technology is used to protect clients’ personal information and financial transactions. The Personal Area on the website is SSL-secured with 128-bit encryption.

Accounts are verified – In order to keep transactions safe, the broker recommends traders to verify their trading accounts. This is done by providing the broker with proof of residence and a copy of your personal ID document.

Secure withdrawal rules – The broker protects your withdrawals by means of an email confirmation when withdrawing from a live broker account.

Visa authorization that is 3D secured – In order to keep all Visa transactions protected; the broker uses 3D secure technology.


Octa FX makes every effort to deliver a pleasing trading experience for all types of traders (new or professional). OctaFX is a broker that has won multiple awards, such as:

  • 2019 Top Mobile Trading App – Awarded by the European CEO Magazine
  • 2019 Top Forex Broker – Awarded by
  • 2019 Top Broker – Awarded by the Global Banking & Finance Review
  • 2019 Top ECN/STP Broker – Awarded by the Fx Daily Info
  • 2019 Top Forex Broker in Asia – Awarded by the Fx Daily Info
  • 2018 Top Forex Broker Asia – Awarded by the Global Banking & Finance Review
  • 2018 Top FX Broker European – Awarded by CEO Magazine
  • 2018 Top Trading Conditions – Awarded by the European CEO Magazine
  • 2018 Top Copy trading Platform – Awarded by
  • 2017 Top Trades Execution – Awarded by
  • 2017 Top Trading Conditions – Awarded by the European CEO magazine
  • 2017 Top Forex ECN Broker – Awarded by UK Forex awards
  • 2017 Most Transparent Broker – Awarded by the European CEO magazine


OctaFX is a great ECN broker with a range of different accounts and platforms. The broker also has an outstanding analytical section, great education for beginners, and various trading tools.

In this Octa FX review, we found that the broker offers a distinctive combination of trading platforms and accounts, with helpful education, that is beneficial for both new and experienced traders.

With OctaFX, traders have access to universally-known trading platforms (MT4, MT5, and cTrader) on Web, Desktop and on the OctaFX App. When trading with OctaFX, you are trading with one of the best brokers in forex. In our opinion, it is a highly suggested broker for forex trading.

OctaFX Review

Related Articles

BDSwiss Review

WHAT IS BDSWISS? BDSwiss as a brand was established in 2012 and since then, it has become a reputable online brokerage firm offering more than

Read More »