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OctaFX reviews




Average: 4.5 based on 197 reviews
4.543625
OctaFX

OctaFX Forex broker reviews

  • Website:
  • Year since: 2011
  • Headquarters: 2 Devonshire Square, London, England, EC2M 4UJ
  • Company registration: Octa Markets Inc.(reg. 19776 IBC 2011), St. Vincent and the Grenadines;
    OctaFX UK Limited, United Kingdom
  • Regulation: FCA UK (#679306)

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REVIEWS & RATINGS

Rating interpetation



India & PG

June 4, 2016



2 years Total
1 week with this Broker
1


I recently came across Octafx and looking at spreads, I thought lets give it a try. I added $298 on 30th May 2016 and was trading in small lots. I was waiting for NFP and had a Pending buy stop 1.11575 with TP at 1.11922 and SL at 1.11525. NFP released and Octafx closed my pending buy stop with a loss of -$425 and adjusted -$130.11 as adjustment. So Octafx blew my account balance. I inquired about it that WTF is happening when price went the correct way.

Take a look at this screenshot - https://screenshot.googleplex.com/myPYSWVx97N

Customer support forwarded this issue to Trade Compliance dept. and I got a email from Barbara stating that due to the high volatility your order could not be filled at the requested rate and it was executed at the next best available price instead. Note that liquidity providers may require some time to process an order during which the price can slightly change. Such order will be filled at the best price available after it was processed by the provider.

This is complete Bullshit and what they mean is price started at 1.11971 which was above my take profit and continued. I f this is the case then the pending order should be considered as Invalid and shouldn't be opened instead of that they considered 1.11971 and SL - 1.11525 and made it a sell order and fucked my balance.

When I told that this is a execution error from your end they are saying it is as per customer agreement but there is nothing mentioned about if the order is executed above take profit then you can take stop loss into consideration and close the order?­

I realized that they are scam bastards and wont leave a dime in your account.

Tags: OctaFX reviews

ali rustam

March 16, 2016



3 years Total
a year with this Broker
5


the best broker. very good service

Tags: OctaFX reviews

United Kingdom, LarryHills

March 9, 2016



4 years Total
5 months with this Broker


One of the pleasant surprises that I discovered recently. I'm trading with a few brokers here and there and Octafx is one of them. Not too bad for an island broker but they seem to be opening an fca office here in london too which sounds lovely. I hope they'll do it soon. Anyways, they do seem to be fulfulling the promises that they list on their website. There are a few points that I wish they underlined clearer (for example, I deposited in GBP and they had to convert it in USD first which meant some kind of conversion rate. The sum wasn't too bit so I didn't mind that but I wish they wrote about those "surprises" clearer on their website). So I'd recommend contacting the support team first before doing anything to make sure you won't face any issues. That's no big deal though because I try to do this almost every time I join a new broker just to make sure I got everything correctly.

Tags: OctaFX reviews

Netherlands, Geert

November 23, 2015



demo: 3 months; live: 8 months Total
3 months with this Broker
5


i'm very satisified with this broker. i don't usually leave any reviews, but this time i thought why not, i'm really pleased. everything is fine: time matters, withdrawal, convenience. customer support is sometimes not as reachable as is can be though.

Tags: OctaFX reviews

Andy, UK

November 11, 2015



4 years Total
6 months with this Broker
4


I chose this broker because of interesting education and different bonuses and contests. I was very pleased wuth kind and fast feedbacks from customer service.Simple registration, simple platform, everything is very easy. I’m ready to share my experience about this company, find me in skype, vovkfx.

Tags: OctaFX reviews

Portugal, Samuel P.

July 17, 2015



2 years Total
6 months with this Broker
4


Hi, everybody!

Firstly, I was deeply lost in my thoughts while searching for a really good broker which opportunities will satisfy my requirements.... and finally I stopped at OctaFX. The metatrader platform which it presents is very comfortable and the execution is very fast. I haven't got any reqotes problems yet and the withdraw process has always been so flexible. If you do not know which broker is reliable or not or have any trading problems I will be glad to help you, cause I know what it is to be a newbie)

Tags: OctaFX reviews

Vietnam, Tuyen Trinh

June 1, 2015



2 years Total
4 months LIVe with this Broker
5


All is well, withdrawal is quick.
Among the hundreds of my trading orders, about 2 to 3 times requotes

Tags: OctaFX reviews

India, Rajendra Prasad

May 28, 2015



8yrs Total
6months with this Broker
1


Initially i found this broker good but i strongly recommend to stay away for heaven sake. I made bigger profits by investing smaller(i mean to say that i almost doubled the account in a couple of days after investing). But things were not as sweet thereafter. The broker uses algorithmic strategy as whenever i tried to exit a position in a profit mode say for a few dollars it didn't close at the said price.The broker stole away a few pips and then closes. Luckily i didn't open any bigger position it would have done huge damage. I just opened 0.50 and when i exited for a profit of 8USD the broker closed for -5USD.So it was a LOSS.Similarly i tried with few more positions and the same story happened. When i asked the broker said that there are no liquidity providers. But in DEMO there are plenty of liquidity providers. Broker is a SCAM and BUCKET SHOP and hates winning.

So if you don't believe what i am saying just invest 1000USD and double it in a couple of days and after that watch how hard this broker would make you to toil by manipulating the things.

But i have pulled my money and deposited with another broker. SCAM SCAM SCAM SCAM SCAM...stay away if you are a winner or stay with OCTAFX if you r a looser.

Tags: OctaFX reviews

Indonesia, Okta Kurniawan A

May 28, 2015



4 years Total
1 year with this Broker
3


I completyly trade 2 lot to full made a wellcome bonus from octafx, I'm Verry happy trading with it..thanks for octafx

Tags: OctaFX reviews

Vietnam, Tuyen Trinh

April 12, 2015



2 years Total
2 months Demo and 3 months Live with this Broker
5


Ask Bid (Spread) is wonderful.
There is a little difference between demo account and Live account, but not significantly.
Account Live are usually higher than about (0.3 pips) with Demo accounts
Deposit quickly, I do not withdraw the money, I will update when I withdraw money.
So trading with this broker

Tags: OctaFX reviews

New Zealand,David K

March 31, 2015



4 Years Total
3 Years with this Broker
5


I am very satisfied to trade with octafx about 3 years,I noticed that this Broker is very polite and very fast execution,excellent customer support and wonderful service very honest and friendly fx company they keep their clients always happy.
OctaFX Best Forex Broker They are really Professional Broker plus very honest helping traders make profit as much as they can without any restrictions.!!
I really like the professionalism that they show to every trader.!
Very Tight Spreads
The spreads which they offer is one of the tightest I seen so far.

Very pleased with their services and excellent support.
OctaFX provides ECN trading facility with true ECN/STP service and OctaFX is an award winning ECN/STP broker. they offer minimum deposit which is rare in many forex brokers.
Thank you very much OctaFX. best Broker I've ever found.
I highly recommended to every trader new or experience.!!

Tags: OctaFX reviews

India, Praveen Gupta

February 26, 2015



4 years Total
1 month with this Broker
1


Everything is OK with this broker. Deposit, withdrawal,customer support,account opening etc., Technical difficulties is there.
Suppose if you have opened a long position of 0.50 lot size and if the trade goes against you and you want to cut/reduce the position to say 0.10. It doesn't happen. The whole position of 0.50 is closed and then a fresh new position of 0.10 lot size is opened at a new price. This is rubbish as the new position has to break even and then move profitable. This doesn't happen with any other brokers in the trading world.So i do not recommend this broker.

Secondly huge slippage occurs during News hours. So placing pending orders for a break out trade is utter waste. Sometimes both the orders BUY STOP and SELL STOP gets triggered, though the price has moved in only one direction without even touching the other.Seems to me that this broker is BUCKET SHOP. Beware!

Tags: OctaFX reviews

India

January 28, 2015



8 yrs Total
1 month with this Broker
5


I don't have any problem with this broker.Pretty good. Funding and withdrawal is instant which we can do it directly from our client profile portal. I have the proof with me..233515 is my MT4 with OCTAFX.
If we are always finding fault with brokers then we wouldn't be trading at all. Please be +ve guys, trust your broker or any broker once you have done with all the preliminary researches. Good luck.!

Tags: OctaFX reviews

Slovakia, Daniel K.

January 23, 2015



2 years live Total
none, I ll try demo with this Broker
3


Hello,

everything looks well on the first glance. Customer service is quick, spread are really competitive, no commision fees at all which really surprised me with those raw spreads. Withdrawal seems to be quick according to their web-site. I am glad that they use cTrader but without swaps which I dont need that much actually as intra-day trader.

Not sure if they have protection of customers portfolios when they bancrupt or something will happen.

But I am not really sure...

DO YOU HAVE SOME REALLY BAD EXPERIENCES WITH THEM??

Tags: OctaFX reviews

Oib77

January 16, 2015



2 years Total
8 monts LIVE with this Broker
5


Feeling happy with bonuses usd8..easy make profit bcoz low spread..TQ OCTA...

Tags: OctaFX reviews
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