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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

Octa

Cyprus|5-10 years|
Market Making(MM)|MT4 Full License|Global Business|High potential risk|

https://www.octafx.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

OctaFX-Demo

Belgium
MT4
52

Influence

C

Influence index NO.1

Colombia 3.93
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

52
Server Name
OctaFX-Demo MT4
Server Location Belgium

Influence

Influence

C

Influence index NO.1

Colombia 3.93

Surpassed 76.97% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+357 25 251 973
support@octafx.com
https://www.octafx.com/
1, Agias Zonis and Thessalonikis Corner, Nicolaou Pentadromos Center, Block: B', Office: 201, 3026, Limassol, Cyprus

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+357 25 251 973

Broker Information

More

Company Name

Octa Markets Cyprus Ltd.

Company Abbreviation

Octa

Platform registered country and region

Cyprus

Company website
Twitter
Facebook
Instagram
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts
Previous Detection : 2024-05-18
  • The number of the complaints received by WikiFX have reached 95 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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scam brokers

this Mercy James Forex will just get all your money, and when i was scanning at the bar code to make deposit it appears on the bar code OCTAFX, how come?if it is OVALEXFCRYPTOMARKET?... they will just get all your money and then you cannot withdraw it you need to deposit first 30,000 pesos for you to withdraw...after you deposit theres still no withdrawal....

2023-06-27 14:39
Unable to Withdraw

Account blocked

Dear octa team, If you have technical fault on XNG pair, is it created by customers , obviously no then how octa have right to deduct this amount from account . Even you put my account on read mode only even my trade was open, that time I was not able to open or close trades or modify the trades. It was not final step by octa team finally they locked my account. Who one responsible for this my loss, will octa pay me for this loss, no octa will not pay then octa have no rights to deduct amount from people accounts. Through this way octa will lose million of costumers from octafx platform. Please don't imposed penalties to costumers. My octa account ID 24035464. I tried to withdraw amount but Its not done by octa team. Withdrawal request no is W10267504. Same time I rested to transfer in territory account. I was done. But after some time I was not able to open my account . It was blocked by octafx team. Everyone is crying due to this issue . Still I'm not able to open my account. Please solve this issue as soon as possible. Hopefully you will consider my request . Best regards Saeed Ahmad

2023-04-15 19:17

    Octa · Company Summary

    Company Summary

    Company profile

    Basic Information & Regulators of OctaFX

    OctaFX is regulated under Octa Markets limited in St. Vincent and the Grenadines (SVG) and Octa Markets Cyprus Limited in Cyprus.

    European clients will choose the broker’s EU entity, whereas international clients are served from OctaFX’s entity in Saint Vincent and The Grenadines (SVG). In Cyprus, it is duly recognized and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18 and registration number HE359992.

     

    Offering of Investments

    The amount of instruments has increased:

    Tradeable Symbols (Total). WAS—80. NOW—230 including:

    CFDs on stocks: 150 (NEW) Reference

    Forex Pairs (Total): 35

    Gold and silver

    3 energies

    10 indices

    30 cryptocurrencies

     

    Here is a list of important financial assets available at OctaFX.

    Forex: EURUSD, GBPUSD, GBPJPY, USDJPY, USDCHF, AUD/USD.

    Stock Indices: AUS200, UK100, FRA40, JPN 225,GER30, ESP35, EUSTX50, US30,NAS100,SPX500

    Cryptocurrencies: Bitcoin, Bitcoin Cash, Binance, Ethereum, Ethereum Classic, Polkadot, Litecoin, Solana, Dogecoin.

    Metals/CommoditiesGold XAGUSD, Silver XAUUSD

    CFDs on stocks: Apple, Google, Amazon, Tesla, Wallmart, Nvidia etc.

    Energy: XBRUSD, XTIUSD, XNGUSD

     

    Commissions and Fees

    We now offer OctaFX MT4 and OctaFX MT5 (which used to be MT4 Micro и MT5 Pro).

    We no longer offer cTrader.

    Spreads are now equal on OctaFX MT4 and OctaFX MT5.Typical spread on EUR/USD is 0.7 pips on both types.

    OctaFX MT5 has 230 instruments. OctaFX MT4 has 74 instruments.

    Average Spread EUR/USD - 0.7 pips

    All accounts on OctaFX are swap-free—we don’t charge an overnight fee from traders.


    News

    Indian authorities accuse OctaFX, broker denies

    ExposureIndian authorities accuse OctaFX, broker denies

    2024-04-26 13:44

    OctaFX, a well-known brokerage firm, has recently come under charges of money laundering and chart manipulation by Indian authorities. The company denied the accusations and said the allegations are baseless.

    WikiFX
    2024-04-26 13:44
    Exposure
    Indian authorities accuse OctaFX, broker denies
    OctaFX's CHAMPION DEMO CONTEST 2024

    NewsOctaFX's CHAMPION DEMO CONTEST 2024

    2024-03-07 19:36

    OctaFX, a well-known and reputable broker, announces the Champion Demo Contest 2024. The Contest is organized and run by Octa Markets. The contest will start on 11 March 2024. By Simply signing or logging in you can participate in the demo contest.

    WikiFX
    2024-03-07 19:36
    News
    OctaFX's CHAMPION DEMO CONTEST 2024
    PH SEC Warns Octafx For Unauthorized Firm

    ExposurePH SEC Warns Octafx For Unauthorized Firm

    2024-01-03 15:22

    The Philippines Securities and Exchange Commission (SEC) has recently released a public advisory warning against engaging in investment and trading activities with OCTAFX/OCTA TRADING.

    WikiFX
    2024-01-03 15:22
    Exposure
    PH SEC Warns Octafx For Unauthorized Firm
    OctaFX Faces Series of Questions About Its Legality in India

    ExposureOctaFX Faces Series of Questions About Its Legality in India

    2024-01-03 15:18

    Warning: OctaFX Faces Legal Scrutiny in India: Beware of Allegations of Illegal Operations | Learn More about the ED's Crackdown on Forex Trading.

    WikiFX
    2024-01-03 15:18
    Exposure
    OctaFX Faces Series of Questions About Its Legality in India

    User Reviews

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    User comment

    91

    Comments

    Write a review

    Carlos Juan
    more than one year
    Octa hits the spot for my major forex trades! $0 commissions and tight spreads are a winning combo. Most of the time, spreads stay below 1 pip, only bumping to 1-2 pips during peak NY hours. They also excel in hedging – I can place stop-loss orders just a few pips away and open opposing positions for the same currency pair.
    2024-05-08 16:34
    Reply
    0
    0
    Tim940
    more than one year
    Overall, it is positive with exceptionally fast deposits and withdrawals, and extremely responsive problem-solving customer service. However, there were minor difficulties with the UPI deposit process.
    2024-04-26 16:02
    Reply
    0
    0
    AdityaPrasad
    3-6months
    Can someone assist me in retrieving my funds?
    2024-01-30 19:40
    Reply
    0
    2
    FX1523858474
    more than one year
    Now, let me take you through an enjoyable trading episode with Octa FX. One afternoon, while observing the GBP/USD pair, I foresaw a bullish trend influenced by the upcoming UK economic policy changes. After thorough research and confirmation from their up-to-the-minute market data, I placed a long trade on the pair. Thanks to Octa FX’s high-speed processing and latency-free platform, my trade was executed at the precise moment I needed it to be. Moreover, navigating through Octa FX's platform has been nothing short of a breeze. Their platform, convenient and well-structured, ensures that trading tools and relevant information are literally at your fingertips, making trading super easy!👍👍👍
    2023-11-30 15:22
    Reply
    0
    0
    Cooperhere
    more than one year
    I had the opportunity to delve into the world of Forex Trading with OCTA FX and I must say, their effort to make the process seamless and profitable is outstanding! Their registration process is simple and efficient, followed by a seamless verification process. It’s reassuring that they prioritize security and legitimacy. Their website makes navigation easy and the Metatrader 4 and 5 platforms they offer guarantees an outstanding trading experience both on mobile and desktop. Their customer service is also worth mentioning. The support team is responsive and professional, with a clear understanding of the trading field, so they can address queries and resolve issues effectively.
    2023-11-28 16:41
    Reply
    0
    0
    BishBashBosh
    6-12months
    Really bad trading experience, the platform is slow and there are far too many delays.
    2023-08-08 15:24
    Reply
    0
    1
    VictoriaTom
    6-12months
    This is a company that values OctaFX rights more than the basic rights of customers. Customers are not uncommon to be blocked for no reason by their judgment. When a customer's account is blocked, they cannot retrieve or clear their money. It is better not to use this company.
    2023-06-23 17:19
    Reply
    0
    1
    Kaalen Treni
    6-12months
    A good broker both for professional traders and beginners in this business. I myself have been fond of Forex for a long time and worked with different brokers. OctaFX, differs by its stability and low commissions. I have been working with them for a long time now, so I've only positive emotions!)
    2023-06-15 18:07
    Reply
    0
    0
    Tard
    6-12months
    easy to trade specially for beginners step by step instruction and no hustle
    2023-06-14 18:18
    Reply
    0
    0
    米井優太 Yuta
    more than one year
    Very lousy broker, worthless, poor customer service, very wide spread, do not trade with this broker. I strongly advise you to trade with big players such as EXNESS and FP Markets.
    2023-02-17 11:05
    Reply
    0
    1
    百丽008号会员
    more than one year
    Please don't fall into the trap set by octafx! You can see in wikifx that many people have got scammed by this company and still haven't recover their losses... Is it that hard to recover scammed money??
    2023-02-16 09:59
    Reply
    0
    0
    Berka Sternke
    more than one year
    a great broker, but I will recommend Drewwake dot jtbtech at gma1l dot c o m for a good means of mentorship and how to start trading skills
    2023-01-30 21:11
    Reply
    0
    0
    Ahmad68
    more than one year
    Fraudulent market manipulation
    2023-01-20 05:17
    Reply
    0
    0
    kiellang
    more than one year
    SL not hit but its close i reported but no understanding answers...
    2022-12-20 23:05
    Reply
    0
    0
    小天38510
    more than one year
    Before my foreign exchange transaction reached the stop loss point, they asked me to close the position and deposit some money. I did so and ended up losing all my money. They say it's normal, I'm having a bad market, how do I feel like I'm being scammed?
    2022-12-15 18:29
    Reply
    2
    2
    FX1160300192
    more than one year
    I have only traded some basic currency pairs on this platform. The mt5 trading platform is relatively stable, and the trading signals are quite accurate. I have neither lost nor made money on this platform, but overall withdrawals are pretty fast.
    2022-12-14 13:37
    Reply
    0
    0
    Eljoe
    more than one year
    this broker is the best broker I have meet so far some couple if days back I was having deposit issues but after i complain to their customer service they settle the issue
    2022-12-12 17:27
    Reply
    0
    1
    sonofgrace
    more than one year
    The broker is well reliable and trustworthy they deserve five star
    2022-12-12 04:55
    Reply
    0
    4
    Hustleboy
    more than one year
    The broker is well reliable and trustworthy they deserve five star
    2022-12-10 04:15
    Reply
    0
    3
    BIT1558102022
    more than one year
    This broker is definitely a good broker. If you have anything you want, it easily deserves 6 stars, but there is no way I can give it six.
    2022-12-10 02:36
    Reply
    0
    1
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    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
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