Octa

By St├ęphane on 04/11/2023

TrustedBrokers Score

4.2 / 5

Octa is available in Indonesia

  • Markets
    4.0 / 5
  • Trading environment
    4.5 / 5
  • Deposits and withdrawals
    4.4 / 5
  • Investor protection
    3.8 / 5
  • Customer service
    4.3 / 5
Our take on Octa

Trade without restrictions with OctaFX.com, an international broker headquartered in St. Vincent & The Grenadines. Octa (formerly OctaFX) supports all trading styles and EAs.

Octa is popular with traders seeking high leverage, up to 1:500, on the MetaTrader 4 and 5 platforms. You can make your deposits go further with a bonus, up to 50%. Bonus funds can be withdrawn subject to trading volume requirements.

Octa has a reputation for quick deposits and withdrawals, even though withdrawals are processed manually for added security. Octa charges no fees on deposits and will even cover third-party fees, from time to time.

Live trading sessions, broadcast several times a month, also caught our attention. Webinar attendees also get access to a private Telegram channel. If you are new to trading, this could be an opportunity to learn from professional traders.

  • Likes
  • Trade without restrictions on MetaTrader 4 or 5.
  • Crypto deposit and withdrawal options are available.
  • Negative balance protection.
  • Copy trading platform.
  • Dislikes
  • You cannot buy shares or cryptocurrency (only CFDs).
  • Only supports 2 account base currencies: USD, EUR.

Easily navigate this review:

4.0 / 5
Markets

Trade CFDs on currency pairs or diversify across stocks, indices, precious metals and energies:

  • Forex: trade CFDs on the price of 35 currency pairs on leverage up to 1:500. These include the Majors and well as crosses between AUD, EUR, GBP, USD and JPY.
  • Crypto-currency: trade CFDs on the price of 30 crypto-currencies, including Bitcoin and Ethereum, with leverage up to 1:25.
  • Stocks: trade CFDs on the price of 150 individual stocks, with leverage up to 1:20. These include popular names such as Tesla, Apple and Amazon, as well as companies listed in the UK, Europe, Australia and Asia.
  • Indices: trade CFDs on 10 stock indices, with leverage up to 1:50. These include the Dow Jones 30, the NASDAQ 100, the DAX 30 and ASX SPI 200 Index.
  • Metals: trade CFDs on the price of Gold and Silver against the US Dollar, with leverage up to 1:200.
  • Energies: trade CFDs on the price of Natural Gas, Brent Crude Oil, and West Texas Intermediate crude oil, with leverage up to 1:100.

* Availability is subject to local laws and regulations.

  • Asset classes (#)
  • Forex (CFD)35
  • Cryptos (CFD)*30
  • Stocks (CFD)150
  • Indices (CFD)10
  • Metals (CFD)2
  • Energy (CFD)2
4.5 / 5
Trading environment

MetaTrader 4 and 5

OctaFX.com supports MetaTrader 4 and 5, two of the world's most popular trading platforms. If you're new to trading, we suggest using MetaTrader 5, because it supports a wider range of instruments, order types and time frames for your charts.

Octa supports all trading styles, including hedging, scalping and automated trading. If you have an interest in programming, you could write and run your own trading robots inside MetaTrader. Otherwise, you may download trading robots, paid and free, from the MetaTrader Market.

MetaTrader 4 and 5 are available for download to your computer or Android/iOS mobile device from OctaFX.com. You may also trade over the Internet, through your browser, with no download required.

Copytrading

If you're short on time, or simply lack the confidence to trade Forex, the Octa copytrading service could be of interest. Find the most profitable traders to follow, and allocate a percentage of your funds to copy their trades automatically. Review their performance, and either pause or end the copy relationship at any time.

Swap-free accounts

Octa accounts are available in Islamic format for clients of Muslim faith. These accounts neither pay, nor receive interest, on positions held open overnight. Instead, Octa applies a fixed fee that is not interest. In 2020, Octa won the award for Best FX Islamic Account.

  • Platforms
  • MT4
  • MT5
  • Copy trading
  • Other platformsOctaTrader
  • Operating systems
  • Web trading
  • Android
  • iOS
4.4 / 5
Deposits and withdrawals

You can fund your Octa account through a bank transfer, Visa or Mastercard payment, the Skrill or Neteller electronic wallets and even crypto-currency. Octa accepts Bitcoin, Ethereum, Litecoin, Dogecoin and Tether payments.

Octa won't charge you when you make a deposit or a withdrawal. It will even go further and cover third-party deposit and withdrawal fees (such as that charged by Skrill, Neteller or others). Please contact OctaFX.com for more information.

As payment options will vary based on your country of residence, we encourage you to create a free account on OctaFX.com to see for yourself. In India for example, local payment include the UPI faster payments scheme.

The choice of payment methods depends on the company that you open an account with, and your country of residence. Please visit the company's website for a list of all payment methods.

* Availability is subject to local laws and regulations.

  • Deposits and withdrawals (Fiat)
  • Bank transfer
  • Credit card
  • Debit card
  • NETELLER *
  • Skrill *
  • Deposits and withdrawals (Crypto)
  • BTC (Bitcoin)
  • DOGE (Dogecoin)
  • ETH (Ethereum)
  • LTC (Litecoin)
  • USDT (Tether)
  • Account base currencies
  • EUR
  • USD
3.8 / 5
Investor protection

Octa (formerly OctaFX) is an umbrella brand used by two independent entities:

  • The Octa website is associated with Octa Markets Incorporated, a company established in St. Vincent and the Grenadines. Octa, which is the focus of this review, is able to offer its clients high leverage and bonus promotions.
  • The OctaFX.eu website is associated with Octa Markets Cyprus Ltd, an investment firm registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). This enables users to trade with a broker under European regulatory oversight, with enhanced safeguards, including access to an investor compensation fund.

Your funds will be held in segregated accounts, and you'll also enjoy negative balance protection, no matter which entity you open an account with it. Negative balance protection means that Octa will re-set your balance to zero, should it ever become negative.

Customer support is available 24/7, in English, Spanish and South-Asian languages. Octa aspires to keep you waiting no more than 30 seconds.

Is Octa legal in Singapore?

Yes, you can open an account with OctaFX.com if you live in Singapore.

Our License Checker verifies the validity of EU, UK and UAE broker licenses in near real-time.

4.3 / 5
Customer service
Octa Alternatives
Author

About the author

I'm St├ęphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.