Octa Review in Apr. 2024

• Forex: trade CFDs on the price of 35 currency pairs on leverage up to 1:500 as standard, which can increase to 1:1000 in connection with special promotions and contests.
• Crypto-currency: trade CFDs on the price of 31 crypto-currencies, including Bitcoin and Ethereum, with leverage up to 1:25.
• Stocks: trade CFDs on the price of 160 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.

MetaTrader 4 and 5

Octa supports MetaTrader 4 and 5, two widely used trading platforms supported by hundreds of brokers. If you're starting out, we suggest using MT5 over MT4, because it supports a wider range of instruments, order types and time frames for your charts. For example, you can trade 273 markets through Octa's MT5 platform, versus 76 on MT4. If you have an interest in automated trading, you'll enjoy the freedomn to programme your own trading bots, or run third party algos inside the platform.

OctaTrader

OctaTrader is Octa's in-house trading platform, available as a mobile app and web trading platform. OctaTrader is sleek and user-friendly, with advanced charting tools. Create price alerts on any instrument, or browse daily trading recommendations. At present, OctaTrader supports 80 instruments, with good coverage across Forex, crypto-currencies, commodities and global stock indices. However, it doesn't allow trading bots, also known as Expert Advisors on the MetaTrader platform.

Copytrading

If you're short on time, or simply lack the confidence to trade Forex, Octa's copytrading service could be of interest. It's straight-forward to find profitable traders to follow, and 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.

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 visit Octa's website 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.

Client funds are held in a segregated account, separate from the company's own funds. However, these may be pooled with other clients' funds, as Octa's customer agreement makes no mention of segregated accounts in the plural.

Octa advertises negative balance protection, but its customer agreement states that it only applies "in case a stop out leads to the account balance becoming negative", a statement we confirmed with its support team. This implies that you'll need to use leverage with caution, and apply stop losses consistently to enjoy negative balance protection.

Octa caveats this even further by stating that no protection will be provided if it believes the client's actions are fraudulent or intentional. While it's common for brokers to protect themselves from reckless clients, or those engaging in negative balance arbitrage, Octa will act as judge and jury, and may ultimately decide against providing protection.

Last but not least, your ability to access an investor compensation fund will depend on the Octa entity with which you open an account. If you're a non-professional investor and open an account through its entity regulated in Cyprus, you'll be covered by this regulator's compensation scheme. However, no such schemes apply if you open an account with Octa's entities in South Africa or the Comoros.

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