OctaFX Reviews

OctaFX Reviews
Rating:2.86 (36 votes cast)

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OctaFX Reviews
  • Website Address: www.octafx.com
  • Founded on: 2011
  • Headquarter: Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines
  • Regulation: St.Vincent IFSA

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OctaFX General Information

International Offices Belgium
Broker Type ECN/STPDMA/STP
Broker Status Independent Broker
U.S Clients http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png [List of Forex Brokers accepted USA client]
Phone +17844574224
Fax
Email support@octafx.com
Website Languages English, Chinese, Indonesian

 

OctaFX Account Information

Demo Account http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Minimum Deposit $5
ECN Account http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png [available  at $50] [Forex Brokers with ECN Account]
Account Currencies
USD, EUR
Maximum Leverage 500:1
Minimal Trading Volume
  • 0.01 for micro account
  • 0.1 for ECN account
Segregated Accounts http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png [Forex Brokers with segregated account]
Swap-free Accounts http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png [Forex Brokers with swap-free account]
MAM/PAMM Accounts http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png
Managed Account http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png
Interest on Margin http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Banking Options Bank Transfer, Debit/Credit Card, WebMoney, Moneybookers, CashU, Liberty Reserve

 

OctaFX Trading Terms

Trading Platforms
Precision Pricing 5 Digits
Spread Type
Floating
Commission
  • NO for standard account
  • YES for ECN account
EURUSD Spread
1 pips
EA
http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
One-Click Execution
http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png
Scalping http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Hedging http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Gold, Silver
http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Mobile Trading http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
Web Trading http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png
OCO Orders http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png
CFDs http://forexbrokersreview.net/wp-content/uploads/2012/11/no.png
Other Trading Instruments Commodities
Promotion http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png [Forex Brokers with Bonus]
Trading Contests http://forexbrokersreview.net/wp-content/uploads/2012/11/yes.png [list of Forex trading contest]

 

Comments

  1. muhammad yousaf shad says:

    octafx is a best and honest broker.all services are very good.
    if you add payoneer card or add any other card for instant withdraw.

  2. rangarajan says:

    Octafx is a big scammer. They want earn money only from the traders. They are not also ECN. Big Scam Market Maker.
    First their SWAP FREE Accounts,
    I was opened a swap free account in Octafx and trade with them. In SWAP FREE accounts swaps will not be added. But after few days, I closed my orders they were added commission. The commission is same as swap. But it is invisible in MT4 untill, I close my orders. I ask them why swaps are added in the name of commission in swap free accounts. They replied cool, swap free accounts made for Muslim religious and their is no difference between swap free accounts and other accounts. This is first cheating. They advertise swap free accounts available in Octafx is only attract the clients. The SWAP FREE accounts are fake.

    Second thing their re-quotes.
    They are said the accounts are not re-quotes. But, the pending orders opened with re-quotes in the name of started/gap. ie. the buy stop orders were opened with higher price and sell stop orders quoted opened with lower price from the quoted price. Also sell limit orders opened with lower price and buy limit orders were opened in higher price. It causing the profit and give loss to the traders. This is one type of cheating with re-quotes.

    The third big scam.
    Their ib programs. The ib rates are vary with the no. of clients. also they give $15. for the ibs those who have more than 100 clients. All the brokers are earning money in the pip difference only and they give IB commission less than the pip difference. ie. the broker earn 10$ for one lot with one pip difference pair.(This is average). In the 10 $ they will give 5 $. It is possible to give. But in Octafx many pairs having less than one. So they will earn less than 10$ per lot. But they give 15$ IB commission, for the IBs those having morethan 100 clients. In this condition, the excess amount to give IB commission will be coming from where?. This shows they will attract more clients with attractive announcements and close the website after getting t a big money from them.

    But, I don’t think about the above conditions, I was trading with Octafx for past 3 months with an IB. The IB transfer the IB commission on every monday. Until last week (ie.16.02.2014) i got the IB revenue from that IB. So, I traded more lots in last week with high tension of mind same as previous trading and expect to receive my IB commission on Monday. But on Monday (ie.24.02.2014) I can’t get my IB commission. I contact my IB, why I am not received my IB commission. The IB told Octafx remove your account from my IB due to hedged trading, so I am not unable to transfer money to your account. What a big scam, I traded last week as well as my previous trading. They gave IB commission until last week. But this week they are updating their rules for IB commission ie. hedged trading will not eligible for IB commission. I accept their update, but they can’t give information about that update. If they are genuine they gave the earned money and giving a information about the trading strategy will not accept for IB commission in future. How we believe this type of cheaters. If after earning more money they with hold the profit by updating their rules, what can we do?.

  3. Marc, FRANCHE-COMTE, France says:

    Marc, FRANCHE-COMTE, France
    Rating:
    Date of Post: 2014-03-25
    Review: Hello all traders Octa FX is a big scam be careful and let me explain you :

    When you open a new fresh account with a small deposit, a new name and email all is good : good spreads without commission, no slippage , good execution time. You trades like if you were in demo it is awesome on the beginning !

    After some days or when you start to win a lot or want to deposit more or want to withdraw they start to apply to all your wining trades about 2 pips slippage . Before 99% of orders are closed without any slippage . I think they are using any kind of MT4 plugin to add slippage to all your orders except the losing one of course.

    Example : if you set your tp TO 3 pips they will close it to +1pips only
    If your Stop is set to -2 pips they will close it to -2 pips (so no slippage )
    if you have a trailing stop and that your stop is set at +3 pips they will stop you at +1 pips
    You understand?
    When you ask them they just say that it is the market and that you accept slippage in the Customer agremeent on their website !

    I have proofs of that on many verified accounts. I can gi investor access to FPA.

    So the solution for me was to ask my brother, girl friend etc… to open a new account on their name to get back good trading conditions without slippage : and it worked they got no slippage on their account for 1/2 weeks !

    But when they wanted to withdraw octafx said that they might be a scammer using many fraud accounts !

    They were not scammers i just opened new accounts for my girl friend and her sister and his boyfriend !

    They say i have to send translated in English documents with apostille to get my money. The cost of it is about 200/300 euros to get back only 170 euros on my account so it is worhtless !!!

    Yesterday i opened a new account for my brother.

    It was his first account he was not a new Customer and they just disabled my account (trade is disabled in MT4 expert tab and impossible to log in OctaFX Customer Area : account is blocked) before he could open even one trade on it !

    They said to my brother that is was because of the article 3.2 of the Customer agrement : they have the right to stop the service to any Customer at any time ! It is really a scam my brother did not even open any trade and the account was fully verified and funded before !
    They hopefully said that he would get back his deposit but they did not say why my brother could not trade and why his account was blocked !

    Be carefull because if you are successfull OCTAFX will eat your profits and deposits or will not accept to verify your account or will not accept you to withdraw !

    It is a very big scam and hard to fight because they say everytime that it is in their custmer agrement and that you have accepted it on the signing up !

    Here is what i want :
    My brother want to get back his deposit
    The sister of my girlfriend want to get back her 140 euros back without paying for apostille and translation in English of her documents that octafx fully verified and accepted before
    I want to get back the right to open a new account and to get the good trading commission without the slippage after some days and profits !

    Best regards

    • Francine says:

      Did you open all these accounts on one computer? I think it happenned because you used the same IP, so it doesn’t really matter for whom you open the account, it looks like it’s you who’s trading. So I fully understand why you didn’t have a chance to go on and trade. As for the notarized docs, I had the same, but it’s stated in the agreement, why whine about that? They told me that I can refuse to send the docs and they’ll give me my deposit back anyway. So it’s up to you. I chose to send them as my profit was bigger.

  4. Marc, FRANCHE-COMTE, France says:

    muhammad yousaf shad says:
    November 30, 2013 at 6:24 PM
    octafx is a best and honest broker.all services are very good.
    if you add payoneer card or add any other card for instant withdraw.

    Reply
    Marc, FRANCHE-COMTE, France says:
    April 29, 2014 at 6:56 AM
    Your comment is awaiting moderation.

    Marc, FRANCHE-COMTE, France
    Rating:
    Date of Post: 2014-03-25
    Review: Hello all traders Octa FX is a big scam be careful and let me explain you :

    When you open a new fresh account with a small deposit, a new name and email all is good : good spreads without commission, no slippage , good execution time. You trades like if you were in demo it is awesome on the beginning !

    After some days or when you start to win a lot or want to deposit more or want to withdraw they start to apply to all your wining trades about 2 pips slippage . Before 99% of orders are closed without any slippage . I think they are using any kind of MT4 plugin to add slippage to all your orders except the losing one of course.

    Example : if you set your tp TO 3 pips they will close it to +1pips only
    If your Stop is set to -2 pips they will close it to -2 pips (so no slippage )
    if you have a trailing stop and that your stop is set at +3 pips they will stop you at +1 pips
    You understand?
    When you ask them they just say that it is the market and that you accept slippage in the Customer agremeent on their website !

    I have proofs of that on many verified accounts. I can gi investor access to FPA.

    So the solution for me was to ask my brother, girl friend etc… to open a new account on their name to get back good trading conditions without slippage : and it worked they got no slippage on their account for 1/2 weeks !

    But when they wanted to withdraw octafx said that they might be a scammer using many fraud accounts !

    They were not scammers i just opened new accounts for my girl friend and her sister and his boyfriend !

    They say i have to send translated in English documents with apostille to get my money. The cost of it is about 200/300 euros to get back only 170 euros on my account so it is worhtless !!!

    Yesterday i opened a new account for my brother.

    It was his first account he was not a new Customer and they just disabled my account (trade is disabled in MT4 expert tab and impossible to log in OctaFX Customer Area : account is blocked) before he could open even one trade on it !

    They said to my brother that is was because of the article 3.2 of the Customer agrement : they have the right to stop the service to any Customer at any time ! It is really a scam my brother did not even open any trade and the account was fully verified and funded before !
    They hopefully said that he would get back his deposit but they did not say why my brother could not trade and why his account was blocked !

    Be carefull because if you are successfull OCTAFX will eat your profits and deposits or will not accept to verify your account or will not accept you to withdraw !

    It is a very big scam and hard to fight because they say everytime that it is in their custmer agrement and that you have accepted it on the signing up !

    Here is what i want :
    My brother want to get back his deposit
    The sister of my girlfriend want to get back her 140 euros back without paying for apostille and translation in English of her documents that octafx fully verified and accepted before
    I want to get back the right to open a new account and to get the good trading commission without the slippage after some days and profits !

    Best regards

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