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OctaFX
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OctaFX

Cyprus
2011-01-01
1
6.25
Rating Index
Software
9.99
Licensed
6.32
Risk Control
0
Experience
7.42
Institution
6.67
Industry Classification
D
Unqualified
Trading Platforms
MT4 / MT5 / OctaTrader

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Normal
  • Operating Period
    2011-01-01
  • Deposit Methods
    Bank Transfer, Credit Card, E-wallet
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Italian
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    Multi-asset broker
  • Social Media
  • Contact Details
  • Type of Accounts
    MT4, MT5, OctaTrader (demo available)
  • Trading Platforms
    MT4 / MT5 / OctaTrader
  • Withdraw Methods
    Not disclosed
  • Auto Trading
    EA supported

Pros and Cons

Pros: Regulated by CYSEC, various trading instruments, demo accounts available, tight EUR/USD spread with no fee for deposits/withdrawals; Cons: Limited payment options, regional restrictions, MT4/MT5 not available for all, customer support not available 24/7.

Company Background

Octa is an established broker that has been operational since 2011, registered and regulated in Cyprus. It has successfully expanded its reach to clients in 180 countries, managing over 42 million trading accounts. With a focus on providing comprehensive trading solutions, Octa aims to combine accessibility with a rich array of trading instruments.

Fund Security

Client funds are protected under regulatory measures by CySEC, with segregated accounts ensuring that clients' money is kept separate from the broker’s operating capital. Octa does not charge for deposits or withdrawals, further securing the clients' investments.

Account Opening

OctaFX offers multiple account types, including MT4, MT5, and its proprietary OctaTrader. The minimum deposit for trading is 50 EUR, and the account opening process includes identity verification. The aim is to facilitate an easy on-boarding experience for clients.

Trading Fees

OctaFX promotes a zero-commission trading model. The average spread on major currency pairs like EUR/USD is around 1.1 pips. There are no inactivity fees, making it competitive; however, clients should inquire about specific fees related to other trading instruments if applicable.

Trading Instruments

Octa provides access to over 300 instruments, including 52 forex pairs, more than 150 CFDs on equities (like Apple and Google), several commodity options, 10 indices, and various cryptocurrencies. This diverse offering caters to different trading strategies.

Trading Technology

Octa utilizes advanced trading platforms such as MT4, MT5, and its proprietary OctaTrader, which equips traders with tools for efficient trading. The platform facilitates easy access to trading markets, along with features beneficial for both novice and experienced traders.

Research and Education

Octa offers a range of educational resources, including webinars, trading tutorials, and market analysis tools. The OctaVision AI-based tool also provides personalized feedback on trading behavior, which can enhance learning and strategy development.

Customer Support

Octa provides customer support via email, which is expected to respond during business hours. There is no live chat or 24/7 hotline, which may lead to delays in urgent matters. However, the broker offers support in multiple languages.
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Rating Instructions
Rating Index
OctaFX
OctaFX
Regulated
Legal Environment
9.99
License Value
6.32
Risk Management
0
Investor Protection
7.42
Regulatory Policy
6.67
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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