Octa Review 2024: Is octafx legit broker?

Disclosure This content is for educational purposes only. Forex trading involves significant risk and may not be suitable for all investors. Ensure you understand the risks involved and adhere to local regulations before trading. Take a look at our detailed review methodology on how we curated a list of metrics to evaluate platforms featured on CryptoNewsZ. We may utilize affiliate links within our content and receive a commission.

The foreign exchange market is a worldwide marketplace where people trade different currencies. While selecting the Forex Broker one must know about the trustworthiness and security measures of the trading platform. Octafx review by CryptonewsZ helps you to understand the in and out details of the platform.

Octa, previously known as OctaFX Established in 2011.  Octafx Trading Platform has been regulated by CySEC since 2018, South African clients benefit from regulatory oversight through FSCA via Orinoco Capital Pty. The broker is also licensed by FSA (St. Vincent and Grenadines) for clients outside the EU and South Africa. OctaFX forex broker provides user-friendly, MT4 and MT5 for desktop, mobile, and WebTrader experience, including its proprietary web and social copy-trading platform.

The foreign exchange market is a worldwide marketplace where people trade different currencies. While selecting the Forex Broker one must know about the trustworthiness and security measures of the trading platform. So, before using this platform read our Octafx Review.

Octa Overview

Official Website https://www.octafx.com/
Headquarters St Vincent and the Grenadines
Founded Year 2011
Regulated Yes
Product offered Forex, Stocks, CFDs, Crypto, Indices, Energies, CFDs on Stocks, Commodities, Gold & Silver
Minimum Initial Deposit $25
Maximum Leverage 1:500
Islamic Accounts Yes
Demo Account Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
Trading fees Low
Inactivity fee No
Withdrawal fees No
Supported currencies EUR, USD, GBP, JPY, CHF & More
Customer Support 24/7 Support, Email support, Social Media, Live Chat & FAQs

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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Moreover, Octa now factors in all types of advanced traders and offers a variety of trading account types for their trading activity. Additionally, Octa is one of the most sought-after platforms due to its no commissions offer. Octa also has promising complex instruments, CFD tools that have high-scale competitive valuations, and insightful data for their users’ informed trades. Octa also has the DOW index tradable instruments on Metatrader 4 and MT5 trading platform and its own trading platform OctaTrader. It is excellent for advanced traders who require high leverage trading accounts. Octa islamic account viewed on the page are all swap-free accounts, for use by muslims who want to trade forex. Forex risk disclaimer involves a high degree of risk in trading securities. This provides real-time updates as well.

When it comes to Octa’s Customer Service, they are the best in trading compared to other platforms. Their support team is interactive and accessible at all times and responds to clients’ trading inquiries in no time. Octa Markets incorporated registered address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines. It currently accepts clients from around 180 countries. You can get the best broker on this platform. In this platform, the overall commission structure of trading depended upon the account type.

With no commissions and no fixed fees, Octa derives its revenue from the fixed spreads on the various underlying asset types it offers traders. Octa trading platform has been recognized as the best in the two most prominent categories: Best Forex Broker Asia & Best trading desk type ECN STP Broker by FXdaily.

What Is Octa?

Many broker reviews view Octa as the most reliant Forex platform out there. Its team is committed to providing spectacular trading services with no extra commissions. The platform helps advance the pursuits of traders and retail traders to get the most valuable outcome for their trading activities. Octa is at present operating via a Saint Vincent and the Grenadines subsidiary. Some brokerages won numerous awards, such as the ‘Best Online Broker Global 2022’ award from World Business Outlook and the ‘Most Reliable Broker Asia 2023’ award from Global Forex Awards.

The core mission of Octa is to ensure clients get a genuine and profitable experience. Moreover, Octa offers a 50% direct deposit bonus + 1/2, a profitable loyalty program, and accelerated deposits and withdrawing funds. Octa offers mt4, mt5, and its own built-in trading platform, OctaTrader, for trading CFDs on stocks. Beginner traders will benefit from well-thought-out research tools, demo accounts, and educational services. To learn more, please speak to an account manager or customer service representative. It also provides FX daily info.

Octa Metatrader suite is available for high-scale trading not only for skilled clients but also for novice traders. Currently, Octa is available for trading utility services and exchanges in more than 180 authorized and accepted countries around the globe. Also, Octa is one of the best forex trading platforms in India 2024.

Octa operates a number of brokerages that are licensed in select financial markets and is authorized to offer its services in most EU countries, South Asia, the Asia Pacific region, and some Middle Eastern countries as well. However, currently, it is not authorized to offer services in the UK and, US to name a few major absentees.

In Cyprus, the European entity Octa Markets Cyprus is duly recognized and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18 and registration number HE359992.

European clients will choose the broker’s EU entity, whereas international clients are served by Octa’s entity in Saint Vincent and The Grenadines (SVG). If you are accessing Octa.eu as an EU resident, you’ll be protected legally under the CySEC regulatory cover.

In South Africa, Octa provides financial services to clients through the intermediary Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). It acts as a point of contact for South African clients in case of any complaints, assists with deposits and withdrawals, and ensures South African regulations protecting clients’ funds are complied with as required by local legislation. The license number is 51913; it is a Category I FSP license.

It is important to note that while the FSA (Financial Security Authority) is responsible for policing international business companies (IBCs), it does not regulate online brokers. As a non-dealing desk broker, Octa simply offsets all orders with the liquidity providers to be executed at their end. Now users can access Forex ECN with 1:500 leverage.

Any contract of financial instruments offered to conclude bears high risks and may result in full loss. All providers have a percentage of retail investor accounts that lose money when trading CFDs with the provider. Brokers who do trade without supervision of regulatory status and body do so at their own discretion. So the traders should always be careful in making their decisions.

Read the facts you must know in this Octa before you open a trading account for the online trading platforms. We’ll review Octa for its products and services. We’ll also discuss the app, mobile trading, & the platform’s trading features in this Octa review.

Octa Platform Interface

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Octa Features

As per the Octa reviews, it offers traders a variety of additional trading features, such as the Copy online trading platform and the AutoChartist trading and research tools.

A Variety of Trading Account Type

Traders have the ability to benefit from MetaTrader 4, MetaTrader 5, OctaTrader, and other social trading platforms. An account with the Octa trading platform provides a variety of trading history and advantages. The mt4, mt5, and OctaTrader peculiarities service a host of trade types and the most convenient experience.

High-level Competing Scopes

There are 35 available base currency pairs and high-priced metals. All the pairs are at an affordable cost per trade with financial market execution in under 0.1 seconds.

Extensive Market Device Offerings

Octa broker provides a host of investor education top-tier sources. This includes charting tools and trading signals. Additionally, Octa offers insightful educational tools for traders and organizes webinars. In European branches, your account option may be eligible for certain CySec. For example, you would like to be protected for upto 20,000 euros from the Investor Compensation Fund (ICF)

Supports High-Skilled Traders

To get the best features, a user needs to have an Octa platform and select the top web trader strategy.

Trusted Cryptocurrency FX Platform

Octa supports the cryptocurrency network for the purpose of deposits and withdrawals on the online trading platform site. The cryptocurrency trading networks that are authorized are Bitcoin, Ethereum, Ripple, Bitcoin Cash, Binance, Ethereum Classic, Polkadot, Dogecoin, and Litecoin. An Octa trader can initiate the exchange pairs with as little as $100 and have the leverage of 1:25.

Services Offered by Octa

As per the Octa review, it basically offers two types of trading options – spot market trading and contracts for difference or CFD trading.

Currency Pair Trading

At Octa, a user can profit from 35 of the most volatile currency pairs. The highest leverage of these pairs is 1:500.

CFDs Trading

With Octa, users can avail CFDs of the ten most promising indices. The CFDs at Octa currently include markets such as NASDAQ, Dow Jones, and Euro Stoxx 50, to name a few. The CFDs are issued by a host of prominent stock market companies. The CFDs can be publicly traded on Mt4 Mt5 apps as well. As per forex market research,74-89% of retail investor accounts lose money when trading CFDs. Some investors are concluded as losers as they make bad decisions.

Commodities Trading

Octa provides users the ability to invest in commodities such as gold, silver, crude oil, and natural gas, to name a few. The highest leverage for gold and silver is at 1:200 and for the remaining commodities available at Octa, digital regulatory, it is at 1:50.

Trading Cryptocurrencies

Cryptocurrencies are available on the MetaTrader 4 and MetaTrader 5 platforms. Octa supports trading in Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash, Litecoin, and Ripple. Additionally, these crypto networks are available on the mobile app with the Mt4 & Mt5 platforms.

Octa Services

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Is Octa Regulated?

Octa is regulated in Cyprus and Saint Vincent and the Grenadines. Their regulatory protection licenses are:-

  • European Entity – CySEC (Cyprus Securities and Exchange Commission CySec): 372/18.
  • International Entity – Saint Vincent and the Grenadines FSA (Financial Services Authority): 19776.
  • South Africa: FSCA 51913

Octa: Pros and Cons

Octa pros and cons are as following:-

Pros Cons
Octa offers low spreads, perfect for scalping strategies. US clients are not authorized to access Octa.
It boasts optimal market volatility valuations for various trading instruments. The trading instruments provided to users are not that many for high-scale trading activity.
Octa’s services empower traders with accelerated exchanges in the market ecosystem. Limited trading instruments and wider spreads than other popular Forex brokers.
There is no commission free trading EU traders restricted to trading on MetaTrader 5
CySEC license with EU trader protection up to EUR 20,000 per client; Negative balance protection is exclusively provided through the CySEC-licensed entity.
Allows scalping, hedging, and expert advisors (EAs) Bonuses, referral programs, trading contests, and webinars are exclusively available to non-EU traders.
Minimum deposit for non-EU clients is $25. Comparatively too low.

Octa Account Opening Process

 

Octa Sign Up Process

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Documents Required for Octa Account Opening :  

Accepted documents are any Government issued photo ID or National Identity Card or Passport.

How to open Octa account : 

  • Please choose an eligible form of identification from the provided drop-down menu.
  • Capture both the front and back sides of your document using your smartphone’s camera with default settings. Ensure that all four corners of the document are visible, information is clear, in focus, and easily readable. Your face must be clearly visible, and proper lighting should be maintained throughout the document.
  • Submit the images of your documents in JPG format, ensuring that the file size does not exceed 10 MB. If you opt for e-Aadhaar, kindly provide its PDF file.
  • Once ready, press the “Submit Request” button.
  • You will receive a confirmation email once your submission is verified.

Types of Octa Accounts

According to the Octa review, it provides three trading platforms of different trading account types, namely the Octa MT4 account, the Octa MT5 account, and the OctaTrader ECN account with real-time updates.

Octa MT4 Account

To start trading you will need to create Trading Accounts in your Personal Area. Octa MetaTrader 4 account, also known as the Micro Account at Octa, is generally offered to novice investors. The reason MT4 is ideal for new traders is that it allows them to invest small funds, thus the term ‘Micro Account’.

Octa MetaTrader 4 trading, fixed spreads are initiated from 0.6 pips.

Notably, for the MetaTrader4 account, no fees are imposed on the users, and the minimum deposit that is applicable to this trading account is $25. Additionally, the leverage for the mt4 account is at 1:500 for fiscal currency.

As for metals, the leverage is at 1:200. For cryptocurrencies, the leverage is at 1:25, and for indices, the leverage is at 1:50. Stock market indices offer low trading costs for entry into the financial market markers.

Furthermore, the mt4 account has the facility of 32 fiscal currency sets, leverages of gold and silver asset classes, three prominent cryptocurrencies, and four well-known indices. Since stock indices are not physical assets, they can be traded via products that reflect their price movements via the Octa CFD trading platform.

Pro Account

The Pro Account is commonly known to traders as the MT5 Account and is offered to high-level, experienced traders. The C-Suite Forex investors have the facility of an MT5 account to profit from the lowest trading spreads. These trading spreads in the Pro Account are economically feasible when it comes to exchanging compensations.

Notably, for the MetaTrader 5 account, no fees are imposed on the users, and the minimum deposit that is applicable to this account is $500. Additionally, the leverage for the mt5 account is at 1:200 for fiscal currency. As for metals, the leverage is at 1:100. For cryptocurrencies, the leverage is at 1:25, and for indices, the leverage is at 1:50.

Furthermore, the mt5 account has the facility of 32 fiscal currency sets, leverages of four metals including but not limited range to gold and silver asset classes, three prominent cryptocurrencies, and 10 well-known indices. Octa traders can trade 150 CFDs on stocks from 16 stock exchanges, with a leverage of 1:20 with no commission.

Demo Account

Before diving into Forex trading with a live trading account, it’s best to open a risk-free Forex demo account. As the Octa review suggests, its Demo Account provides the same Forex trading experience as real accounts. The Octa Forex Demo Account is essentially a practice account. You just need to sign up and create one in a couple of clicks to get started. The only difference is that the funds on the Forex demo account are simulated. Just one click is enough.

Champion Demo Contest
Every client at Octa can participate in the Champion Demo Contest by trading in a demo account. The top 5 users with the highest balance by the end of the contest round can win the following prizes respectively:-

  • 1st place gets 500 USD
  • 2nd place gets 300 USD
  • 3rd place gets 100 USD
  • 4th place gets 60 USD
  • 5th place gets 40 USD

How to take part?

  1. Log in or sign up on Octa;
  2. Open a new Champion contest account;
  3. Download the MT4 trading platform or use the browser version;
  4. Wait until 8 May and start trading on MT4 using the contest account;
  5. Get the highest balance and win a prize.

Octa Trading Platform

The Octa trading platform offers three well-known account types platforms:  mt4, mt5, and OctaTrader platform.

MetaTrader 4

The Octa broker website functionality of MetaTrader 4 software implements very identical operatives of the desktop platform for high-skilled charting services. This gives Forex traders the chance to use a well-curated market trade ecosystem.

This Metatrader 4 (mt4) functionality allows a seamless process for digital trade ventures with an array of exchange tools to choose from.

The mt4 Micro Account website provides the lowest trade spreads. With the mt4 account, traders have the opportunity to make use of 39 profitable trading tools. The EUR/USD listings of the mt4 account have a traditional trading spreadsheet of 0.7 pips. The number of trading instruments available with the MT4 Micro account includes 28 currency pairs as well as gold and silver.

MetaTrader 5

Octa broker facilitates the MetaTrader 5 (mt5) Pro Account, the most profitable amongst C-Suite investors and novice traders as well.

Octa Metatrader 5 (MT5) trading platform has the most seamless interface and software. In addition, newer products have been implemented in the MT5 Pro network functionalities. These modish offerings have enhanced the comprehensive trading platform. The multiterminal doesn’t support automated trading scripts such as expert advisors.

Octa Metatrader 5 brings to the table an enhanced level of automated trading indicator products and significant trading chart patterns. Additionally, for the trader’s pursuit, they have 21-time stamps of trading, graphs, assistance for additional order products, and a financial transactions for economic calendar for trading platform activities, to name a few. The exclusive mt5 pro account gives investors the lucrative offers of 45 trading devices with a deposit of $500 and compliance with enhanced margin requirements.

The online trading platform ( MetaTrader 5) is available on the IOS apple store and Android devices with all the data contained in this website.

OctaTrader

OctaTrader is a built-in Octa trading platform available in web and app versions. The platform adopted a charting technology by TradingView. Their market analysis service offers the latest currency rates, including EURUSD and GBPUSD, and tools allowing you to keep track of markets, important news, and upcoming events, such as the Economic Calendar.

Octa Copy Trading

Octa offers “Copy Trading.” Copy-trading gives business associates of Octa the opportunity to very easily copy their trading signals from a host of other investors in the market news. Moreover, the social copy trading features have a very convenient and optimal interface for users to maximize their trading profits. Octa Copy Trading platform is a top-rated service among the company’s clients.

You can put your investment objectives to work with the Octa mobile trading app by viewing the Master Rating to decide whom to invest with.

With the assistance of Copy Trading, business associates can review their trading portfolio, track their exchanges in the market, and utilize the trading strategies for optimal results.

Octa Copy Trading Feature

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Octa Review: Leverage

The Octa broker leverage is a digital credit provided by the firm. The higher the user’s leverage, the lower marginal compliances will be. For instance, if a user has no leverage (ratio 1:1), they will need 100,000 EUR to open 1 lot of EUR/USD pairs. If their account leverage is 1:200, only 500 EUR will be required.

Also, the maximum leverage Octa offers is 1:500. For this lucrative offering, the user will need 200 EUR to open 1 lot. This will allow you to manage accounts which would modify higher leverage. Octa does not provide any institutional accounts to the traders. The deposit is commission-free.

For all Octa account order types, the maximum leverage is at 1:500. However, this access leverage offers negative balance protection. With the balance protection measure, the user will not lose more detail than depositing funds. Octa puts all client’s funds in a segregated account and uses tier-1 for this. The balance protection assures the user’s trading accounts do not fall below a zero valuation.

Octa Review: Fees

Octa broker doesn’t charge users fees when they register with their trading platform. Additionally, there are no pre-mandate trading fees applicable on joining the platform. Octa trading fees spread, and commissions start from US Dollar 7 with spreads as low as 0.6 pips. Octa broker has a low and incredibly competitive spread when compared to what other forex brokers offer by offering a spread list that starts from 0.6 pips along with commissions charged from US Dollar 0.02 per 0.01 lot. However, all accounts on Octa are swap-free and they do not charge any fee.

Deposit & Withdrawal Options

To deposit and have the opportunity of funding prospects, Octa clients can deposit options through multiple payment methods such as Bitcoin, Credit Card, Skrill Neteller, bank transfer, and Wire transfers. Octa has over 50 different options for payment methods, the availability of which may also depend on your country of residence. When it comes to local bank account options transfer payment methods, the deposit clearing may take 1-3 working days.

Deposits with local banks are processed within one or three hours, credit/debit card, bank transfer, Skrill Neteller and e-wallet deposits are instant. Whenever you make deposits into your Octa live account, you are given a certain deposit bonus; these bonuses are meant to give you extra power to make trades. Additionally, trading accounts can be opened in USD and EUR as well.

Octa Affiliate Programs

Affiliates from all over the world can partner with Octa by participating in two types of affiliate programs: ‘Invite a Friend’ and ‘Octa Partners’.

‘Invite a Friend’ Program

This program is suitable for traders who are willing to invite their friends and get a reward for that. Affiliates don’t have to open a separate account in order to refer their friends, but only to generate a referral link in their personal area and share it with friends.

  • Participants can earn 1 USD per each standard lot traded by referrals while they get a unique 100% deposit bonus.
  • Commission can be withdrawn once every 24 hours or transferred to a trading account.
  • All statistics are available in the personal area in a few clicks.

‘Octa Partners’ Program

‘Octa partners’ is a reputable Forex IB program offering turnkey space for partners’ strategic goals, trusted by the community of 50,000 IB professionals globally in 170+ markets.

  • Octa partners provide transparent fixed commission up to $12 per lot for all assets (pairs) and markets, which is equivalent on average to 80% of spread revenue share for main assets (EUR/USD, XAU/USD, GBP/USD), these record market rates. The income of partners doesn’t depend on trading instruments used by clients.
  • On average, Octa partners have been working with a company for more than 5 years; in 2022, Octa paid out more than $55 million to its partners.
  • One of the market’s highest commissions of 10-25% is provided on sub-IB income under the Master IB program.
  • Octa IBs have access to daily payments and withdrawals, as well as 24/7 technical support in 20+ languages and a personal manager.
  • Online monitoring system for spreads of competing brokers based on data of the analytical department to maintain the best conditions for traders who trade under the supervision of Octa partners or on their recommendation.
  • IBs can utilize 25+ payment methods, including Visa, Mastercard, Skrill, Neteller, UnionPay, and WebMoney.
  • Access to a library of various promotional materials; a Forex educational system for traders; an attractive and profitable loyalty program that includes both cash bonuses of up to $2,000 per month and branded merchandise, the latest models of smartphones and laptops, parties, professional forums, motorcycles, cars, and much more.
  • Octa takes care of all the infrastructure issues so that the program members can focus primarily on the attraction of traders and the achievement of personal financial goals.

Octa Status Program

The free status program allows traders to enjoy extra benefits based on their balance. There are 4 levels: Bronze, Silver, Gold, Platinum. The status is upgraded automatically once an overall balance reaches one of these thresholds:-

For Bronze – 5 USD

For Silver – 1,000 USD

For Gold – 2,500 USD

For Platinum – 10,000 USD.

Benefits for each status level:-

Bronze

  • 24/7 Customer Support
  • Commission-free deposits and withdrawals
  • Commission-free trading
  • A maximum of up to 200 orders via MT4.

Silver

  • All of the benefits from the Bronze status
  • Trading signals from Autochartist
  • Premium gifts from Trade and Win, like AirPods and Apple Watch
  • Faster accumulation of prize lots (1.25 prize lots for one lot traded).

Gold

  • All of the benefits from the Bronze and Silver statuses
  • Faster withdrawals and deposits
  • Lowered spreads on all instruments of the Forex Extended group
  • Premium gifts from Trade and Win, like MacBook Air and iPhone XR
  • Special terms for completing deposit bonuses—the number of lots to trade equals the bonus amount divided by 2.5
  • Faster accumulation of prize lots (1.5 prize lots for one lot traded)
  • A maximum of up to 500 orders via MT4.

Platinum

  • All of the benefits from Bronze, Silver, and Gold statuses
  • Lowered spreads on Forex Majors, Forex Extended, and metals
  • Trading prompts from our experts
  • A personal manager
  • VIP events
  • Premium gifts from Trade and Win, like MacBook Pro and iPad Pro
  • Special terms for completing deposit bonuses. For instance, the number of lots to trade equals the bonus amount divided by 3
  • Faster accumulation of prize lots (2 prize lots for one lot traded)
  • A maximum of up to 2,000 orders via MT4.

Octa Resources Offered

Both novice investors and high-skilled investors can benefit through quality and in-depth market insights into the market. Use Octa hosts live webinar, platform tutorials, and educational articles sessions to gain knowledge on the current market conditions. These webinars are conducted in multiple languages for the accessibility of all users on international clients.

Octa trading also offers market insights on ECN exchange practices, high risk appetite that users can avoid during market exchanges, and strategies for optimal returns on investment advice. The Forex market exchange resources also provide an analysis of the current market so that the user can make an informed decision. Octa produces market analysis and daily forex news, which would help the traders. Octa also keeps track of national holidays and global trading hours.

Octa Review: Promotions & Sponsorship

Octa offers traders 50% bonus promotions on each deposit no less than 50 USD they initiate. To withdraw this bonus, a trader needs to trade (bonus amount)/2 (bonus amount divided by two) standard lots.

For instance, if the deposit amount is $400, then Octa will provide bonus promotions of $200. The user needs to divide their bonus by half $200/2, which will give them 100 lots to credit the bonus offerings.

Secondly, for Indian associates, there is a Fixed Rate feature of $1= Rupees 55. With this fixed rate, users can withdraw funds with their mt4 mt5 account at the same rate. Additionally, when users collect prize lots, they can exchange them for gifts as well, such as an Android phone, laptop, Google Play, and so on. It is worth mentioning that the broker does have a blog and a YouTube channel.

Octa 50% Bonus

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Octa Trading App

As per the Octa review, the mobile trading app offers the most convenient and optimal results at the clients’ fingertips.

The mobile trading apps are available for download on iOS and Android from Google Play. Traders can access all their registered trading accounts in one Octa app through their mobile apps. Additionally, they can even download separate apps for MetaTrader 4 (mt4), MetaTrader 5 (mt5), and OctaTrader, depending on their trading environment.

Octa Trading App

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Octa Security Measures

With the security features of Octa, traders and retail traders can rest assured that their funds are well-protected. Octa would provide one-click trading.

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As per the Octa review, it regards security measures as a top priority of its business. The assets of Octa users are held liable in different trading accounts when it comes to world finance review. With this unique feature of storage away from an investment company, assets allow less access for additional purposes that are detrimental.

Octa users will be provided a negative balance certainty. With this feature, if the user’s account turns negative, the platform will convert it to a standard amount of zero mechanically. With this in place, the user will not lose out on funds that were invested originally at the start. This allows a lesser chance of falling into the risk of losing money rapidly on all the investments you made. Octa trading hours to a specified period of time when participants are able to transact in the foreign exchange. This information provided would help the traders.

Moreover, the service complies with international security practices like AML and KYC thus preventing any possible malfunctions with traders accounts and ensuring their safety.

Octa Customer Support

In the majority of cases with trading, as per the Octa review, it is smooth and reliable, however in case you need any help or have any questions, the customer support team of Octa can easily be reached out through their most useful instructions, the live chat function. This live chat feature is available to Forex traders on the platform on the mobile devices app, Social Media channels, Email, and most definitely on their website 24/7. The customer support team also has positive reviews.

Octa Customer Support

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Octa Review: Our Verdict

To conclude this, Octa offers the best online forex brokers trading costs on the market. Its protected measures are regulated by the Cyprus Securities and Exchange Commission CySec, and it employs high-grade SSL encryption practices to safeguard users’ funds.

Octa has provided over four million traders with steady access to global financial markets. Octa’s top priority is making the user experience great by providing negative balance protection to all its clients. With Octa offering CFDs along with other financial instruments, you can profit from the 10 most popular indices, Octa has a commitment to provide forex traders with the best experience, they not only have tied up with tier 1 liquidity providers but we avail legendary MT5 Trading Platform.

Apart from trading costs, one area where Octa really stands out is the absence of fees for its speedy deposits and withdrawals. Most reviews recognize that Octa focuses on delivering top-quality service, strong customer support, and cost-effective trading conditions. Guaranteed stop loss, no negative balance protection would be provided. Final thoughts of Octa will give a full Metatrader suite with a fairly limited offering.

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FAQs

Is Octa safe and Legal?

According to the company’s website, it is fully compliant with international legislation and allowed to operate worldwide.

Can I Withdraw Money from Octa?

With the Octa trading platform, clients have the ability to credit a withdrawal in less than one second. The withdrawal processing times do not have any compensation fees or deposit compliances. This has a money safe guarantee.

Who Owns Octa?

Octa is under the authority of Octa Markets Cyprus Ltd and is registered in Saint Vincent and the Grenadines. Octa Markets Cyprus Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18, Saint Vincent and the Grenadines (FSA) with license number 19776, and South Africa: FSCA with license number 51913.

What Is the Minimum Deposits for Octa?

For Octa users, they can start trading with a minimum of $25. The minimum deposits can vary depending on your region and the payment provider. Any applicable minimum amount also depends on your country of residence and which Octa entity you choose to establish a trading account.

What Are the Advantages of Trading with Octa?

Octa values every customer and does everything possible to make their Forex trading experience with us positive and profitable. The company’s aim is to make the user’s experience convenient and outstanding, striving to drive Forex to a completely new traders level. Octa offers market execution of less than a second,the deposit and withdrawal is commission free, lowest spreads in the industry, various deposit and withdrawal request methods, negative balance protection, and a wide range of trading for their suitable trading environment.

Is Octa a good broker?

Octa is a great trading platform with accessible starting deposits and a great variety of asset classes and trading instruments.

Where is Octa regulated?

OctaFX is closely monitored and follows high financial standards, regulated by both the FSCA and CySEC. This ensures strong oversight and compliance with regulations for the broker.

Which Country Banned Octa?

Indian authorities recently declared that OctaFX, along with other international brokers like eToro, Exness, and XTB, conducted operations in India without proper authorization, marking them as operating illegally in the country.

Is Octafx legit?

Yes, Octafx is a legit forex broker. Grabbed ‘Most Reliable Broker Asia 2023′. As per the user review Octafx has High Trust score.

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