Octa Review in Apr. 2024

Published on 22/04/2024
Fact checked 22/04/2024

TrustedBrokers Score

4.0 / 5
  • Markets
    4.0 / 5
  • Trading environment
    4.5 / 5
  • Deposits and withdrawals
    4.4 / 5
  • Investor protection
    3.0 / 5
  • Customer service
    4.3 / 5
Our take on Octa

Trade without restrictions with Octa, an international broker with millions of trading accounts. Octa supports all trading styles and EAs on MetaTrader 4, 5 and OctaTrader, its in-house platform.

Octa is popular with traders seeking high leverage and low floating spreads. Enjoy 1:500 leverage across currencies, rising to 1:1000 around contests and promotions. Use leverage with caution as negative balance protection only applies on stop-outs.

Octa charges no fees on deposits or withdrawals, and will even cover third-party fees from time to time. Octa has a reputation for quick deposits and withdrawals, with withdrawals processed manually within 3 hours for your security.

Make your funds go further with a 10% to 50% bonus on every deposit from $50. The bonus amount can be withdrawn once relatively low trading volume requirements have been met.

  • Likes
  • Trade without restrictions on MetaTrader or OctaTrader.
  • Enjoy a 10% to 50% bonus on every deposit.
  • Fast and free deposits and withdrawals.
  • Copy trading is available.
  • 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 over 270 instruments, spanning currency pairs, stocks, indices, precious metals and energies. As we'll touch on later, the number of instruments varies across platforms, but spreads and leverage are otherwise identical.

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4.5 / 5
Trading environment

Trade through MetaTrader 4, 5 or OctaTrader, a powerful trading platform with user-friendly charts. Octa supports all trading styles, including scalping and hedging.

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4.4 / 5
Deposits and withdrawals

We found it fast and easy to move money in and out of our Octa trading account. In addition, Octa charges no fees on deposits or withdrawals.

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3.0 / 5
Investor protection

Octa advertises negative balance protection, but its customer agreement clarifies that this only applies in limited circumstances. Your ability to access an investor compensation fund will depend on the Octa entity you open an account with.

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4.3 / 5
Customer service

Customer service is available on a 24/7 basis by email and live chat. We've found its customer service agents to be helpful and knowledgeable.

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Author

About the author

I'm Stefan, 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.