Is OctaFX reliable? What are the OctaFX account types? OctaFX review is a must read before trading! You can find trading conditions, spreads, account types, leverage and more detals in this review.
5.4/10 (Expert Score)
Product is rated as #47 in category Forex Brokers

We’ll be talking about one of the lowest spread provider forex brokers in the market and that is OctaFX. Founded in 2011 in St. Vincent and the Grenadines, OctaFX is making sure to provide its clients with the best trading experience they can have.

The broker is proud to present fast execution for the trades to the customer to make sure the trades would finish as fast as possible.

The broker’s website, octafx.com, has over 12 million trading accounts opened by clients from all over the world. Where the broker is covering 150+ countries with trades in both forex and CFDs.

With the best forex broker in Pakistan, India, Malaysia and Nigeria in 2022, the broker is making sure the investors are aware of all their awarded awards in the forex and trade markets.

Through this OctaFX review we’ll have a look at major points to be covered about the broker, Is OctaFX a scam or legit? we’ll also cover the account types, spreads, minimum deposit, and leverage offered by the broker. You’ll find the answer to the question Is OctaFX regulated? within this article so keep reading.

Generally, regulation is the most important and critical point within a forex broker and so it’ll be our first point to discuss within this review.

5.4Expert Score

I reviewed OctaFX based on the following criteria.

  • MT4 &amp
  • MT5 supported
  • Tight spreads
  • STP/ECN executer
  • No longer regulated by FCA
  • Payment methods are limited
  • Limited trading platforms


Regulation of OctaFX

Since scams and fraud are quite the issue in the market, regulations are technically the first and foremost criterion to determine the trustworthiness of the broker.

Regulations aren’t generally handed out especially when it comes to the financial sector and brokers must follow certain strict rules in order to be able to get such regulations to continue their trading process.

And so, in case of financial institutions are a follower of those rules set by the regulators, restrictions are directly applied and a freeze in operation might take place which also would affect the reputation of the organization locally and internationally depending on their operating locations and headquarters.

Since the rules are set for a reason, the purpose of the rules within the forex market regulations is to protect against the risk of a complete loss of capital. also protection to the investor against fraud and untrusted brokers.

As the Forex market is decentralized, there are several governmental and independent supervisory bodies around the world that regulate the market, such as National Futures Association, the Commodity Futures Trading Commission, the Australian Securities, and Investments Commission, and the Financial Conduct Authority. They set rules and standards for foreign exchange brokers, IBs, and signal sellers to ensure fair and ethical business behavior.

Gaining the licenses doesn’t mean the broker or the institution won’t have to review or update their rules and technology. as it’s another issue to maintain the license. Any financial organization with a license to trade in the forex and CFDs market, must follow and always update some criteria in order to keep up with the constant appraisal taking place by the financial regulators.

Some of those criteria are: having a license, succeeding in the audits and informing clients on products and services updates, keeping the clients accounts segregated from the organization’s operational accounts, and so on.

The broker was authorized and regulated by the UK’s Financial Conduct Authority (FCA) until recently. The FCA is one of the most reputable regulators worldwide. That is, FCA requires some strict rules that agents must adhere to in order to obtain the license. For instance, the brokers must hold at least £730,000 tangible assets to prove their financial stability. In addition, they have to keep client funds must be held in segregated accounts separate from the company’s operational funds.

Except for the numerous strict requirements for licensed entities, the financial regulator in the UK also provides a compensation scheme.

octafx regulation

Released in 2011, OctaFX had several licenses, including SVG registration, opened the UK branch, but suspended this presence in 2017 and lost the FCA license.

Account Types and Spreads

Account Types and Spreads of OctaFX

OctaFX is offering 2 account types on 2 different trading platforms to allow freedom of choice on each platform and flexibility of trading conditions offered on each account.

These accounts are OctaFX MT5 and OctaFX MT4.

Whereas OctaFX MT5 is mainly targeted to the smart trader which is basically the traders who trade in a technical strategy and technique.

While the OctaFX MT4 is mainly for habitual traders for easy trade for new investors and new beginners. This account is offered on Metatrader 4 which is the most commonly used platform in the forex market.

Both accounts offer floating spreads starting from 0.6 pips. with no commission nor spread markup. With minimum deposit for both accounts is $100. Multiple trading instruments and deposit currencies USD or EUR for both accounts.

The maximum leverage in both accounts is 1:500.

The main difference between the 2 accounts is the maximum volume of lots. In OctaFX MT5 has a maximum volume of 500 lots and the OctaFX MT4 has a volume of 200 lots.

There are also the Islamic accounts that were presented by the broker in 2015 where swap-free trading operations take place for Islamic countries and interested traders.

Trading Platforms of OctaFX

The broker offers the most well known and used platforms in the market from Metaquotes which are Metatrader 4 and Metatrader5.

Metatrader 4 is the most famous platform within the forex market as it has easy features. Being quick and flexible to deal with while trading allowed the investors to trade with ease. Metatrader 4 can be accessed on every device. Its features were designed to facilitate the investing procedure for trades which include algorithmic trading, technical indicators, and expert advisors.

MetaTrader 5, is the updated and improved version of MT4. MT5 was designed to be a multi-functional user-friendly platform that enhances auto trading systems, technical tools, and copy trading. the next-gen platform supports scripts, libraries, customer indicators, and expert advisors.

MetaTrader 5 (MT5), offering more than MT4 does, also includes features and trading functionalities that are better than many other online trading platforms available today.

octafx pakistan review

Both trading platforms allow CFDs and cryptocurrencies trading along with following the easy accessibility user friendliness methods to allow all trades everywhere at any time access. you can access both platforms from the web, IOS, android, and windows.

Demo Accounts

OctaFX offers a free demo account to new forex beginners to practice trading in forex with no limits. it acts as a real account except no real funds are invested, virtual funds and virtual profits or losses allow investors to apply and follow different trading strategies and find the best one that works for them.

Educational Materials

OctaFX offers both written and visual educational materials to its investors. the topics range is quite wide and covers everything a new trader might need to learn and all technical topics a professional trader would use to apply a new strategy.

The tutorials contain a How to section where all the steps of any procedure you might need to take are explained in detail, with step-by-step visuals to make it easier for the clients. The FAQs are covering any and all questions you might ever wonder about regarding any topic. There are also educational courses presented in video forms for newbie forex and CFDs traders along with video tutorials on how to use the MT4 and MT5 platforms.

Customer Services

OctaFX offers their customers 24/7 customer support, all week even on weekends. The customer service response rate was quite fast based on my personal experience and the live chat option just makes getting in touch, when support is needed, easier and faster.


You can also follow the broker’s news and updates on their social media platforms provided on their website for smoother and more up-to-date content and news. the option of sending an email to the broker is also available and the reply rate is quite satisfactory.

octa fx

Trading Instruments

OctaFX provide multiple CFDs to its clients to trade with. the range varies from currency pairs to cryptocurrencies and so many others.

35 currency pairs are offered from the most volatile pairs with a maximum leverage of 1:500 when trading.

10 of the most popular indices are offered for trading including Dow Jones, NASDAQ, Nikkei, and Eurostoxx 50 with maximum leverage of 1:50 and no commission applied.

Сommodities are tradeable physical assets such as metals, including gold, silver, platinum, and copper as well as crude oil, natural gas, and other resources. Gold and silver are available for trading with OctaFX with 1:200 maximum leverage. while commodities like the United States Natural Gas, Brent Crude Oil, and West Texas Intermediate crude oil are available with maximum leverage of 1:100.

Not only the broker is offering cryptocurrency trading, but also it’s providing 30 of the most well-known cryptocurrencies with 1:25 maximum leverage including tokens like Bitcoin, Ethereum, Litecoin, Ripple bitcoin cash, and more.

Payment Methods

Payment Methods

Funding and withdrawal options in OctaFX are diverse, so you can choose what works for you and which one is easier. The broker is providing options to deposit and withdraw in USD or Euro.

For example, you can deposit and withdraw using visa debit and credit cards with a minimum deposit of $25. While using credit and debit cards from MasterCard would give you options to fund or withdraw €50.

The options to use Neteller and Skrill are also available. Bitcoin is also available as another way with fast execution time. No commission was added to any of them.

Compared to other brokers who offer more deposit and withdrawal methods available in the market, the broker here is lacking when it comes to the options provided. And that, in itself, is a great disadvantage for OctaFX.


Conclusion of OctaFX Review

Octa FX is a multi-award-winning forex and CFDs broker that has a great base of clients from all over the world. the broker provides fierce trading conditions. They offer the most used and well-known trading platforms from Metaquoets yet they seem to be not enough in comparison with other brokers who provide the same platforms and more. With all the updated and new technologies in the market, it seems like Octa FX is falling behind with its updates.

Deposit and withdrawal options don’t seem to be sufficient considering the wide variety of options available with other brokers. The broker used to be regulated by one of the best regulators yet they lost it and now their regulation is under review.

If you have any second thoughts about trading or opening an account with Octa FX, I’d recommend checking my article on the top forex brokers list where you can find other broker houses with different trading conditions.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.


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