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OctaFX reviews




Average: 4.5 based on 203 reviews
4.54
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



BrokerGuru

October 22, 2016

cTrader: http://www.octafx.com/downloads/compare-platforms

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Uk Mark

October 21, 2016

Hi. Just a quick note. Octafx doesnt have ctrader platform. So information is missleading on your other page. As far as i can find they got mt4 platforme

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OCTAFX Representative

July 29, 2016

Dear Amin,

Thank you for your review. We would like to underline that we welcome clients from all countries and we are against any kind or racist attitudes. However, we may not work with a few countries due to the legislative or other reasons alike.

I would like to mention that this case has been resolved on FPA: "Octafx team they contacted me and mentioned, they did mistake about my Documents and my citizenship and they will be glad to Open an Account for me and it will not be an issue. Thank you. Amin"
(http://www.forexpeacearmy.com/public/review/www.octafx.com)

Best regards,
OctaFX Rep.

Tags: OctaFX reviews

OCTAFX Representative

July 29, 2016

Dear India & PG,

It is true that a certain set of rules is applied to pending orders during a price gap: for instance, buy stop and sell stop orders are opened at the first price after the gap. Please refer to the customer agreement p. 11.2.Basically, what happened is the order was closed when take profit was triggered. However due to the high volatilty it simply could not be filled at the take profit price. Normally mere milliseconds are required for an order to be processed, however when the volatility is high, those miliseconds might have drasitic effect on the position outcome. During major news quotes update fast, which can be easily confirmed by looking at the tick chart during the release. The price may also significantly change in just one tick.

We are sorry that your experience was not as positive as you expected. OctaFX support team is doing everything possible to help you with your issue. We hope your future trading experience will be more positive!

Best regards,
OctaFX Rep.

Tags: OctaFX reviews

Australia, Martin

July 28, 2016



1,5 years Total
7 months with this Broker
4


I am using Octafx now, so I am just there to make my tiny review and give Octafx a chance to get some more votes ;)) and i hope that it might be helpful either, anyway, so obviously I’m going to say about this company that the only key point here is that they are ECN, so I will always suggest/recommend people to seek broker that’s ECN for obvious reasons, just I think that no one prefers to have a gulf between himself an his broker LOL. I also prefer using cTrader platform, as this is a sort of confirmation type for me and so far I find it pretty good given there are no slippage (at least I have not seen yet) while there is no re-quotes either, so definitely pretty cool platform.

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Kuwait, Amin D

June 25, 2016



8 Years Total
HIthey are racist !! very with this Broker

HI

they are racist !! very simple they said : we are sorry we decided to dont approve your documents , we dont accept a trader from the middle east "

i told them i have a live account with FXCM UK and also i had with Fxpro Uk and some other brokers in the past and they never replied to my emails.

i didnt like their behavior and they keep ignoring my emails.

i asked my other friend from UAE to try to open the account and the same thing happened .

my other friends from KAS tried and mentioned he will deposit 100000$ and they said sure we will open the account for you and we dont have problem with middle east customer.

i don't know what to rate them except racist rating!!

Thank you

Amin.D

Tags: OctaFX reviews

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.

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ali rustam

March 16, 2016



3 years Total
a year with this Broker
5


the best broker. very good service

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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.

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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.

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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.

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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)

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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

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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.

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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
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