OctaFX, officially known as Octa Markets Incorporated, was established in 2011. The broker's headquarters is located in Saint Vincent and the Grenadines, with a significant operational base in Cyprus through its subsidiary, Octa Markets Cyprus Ltd. The company is privately owned and is not publicly traded.
Since its inception, OctaFX has focused on providing online trading services primarily to clients in the Asia-Pacific region, including countries like Indonesia, India, and Malaysia. Over the years, the broker has achieved significant milestones, including the expansion of its customer base to over 6.6 million traders globally and handling a daily trading volume exceeding $4 billion.
In terms of its business model, OctaFX operates as a retail forex broker, catering to individual traders by offering a range of financial instruments, including forex, CFDs, and cryptocurrencies. The broker has positioned itself as a competitive player in the forex market, emphasizing low trading costs and user-friendly trading platforms.
OctaFX operates under multiple regulatory jurisdictions, ensuring a degree of security and compliance for its clients. The primary regulatory bodies overseeing OctaFX include:
These licenses allow OctaFX to provide trading services in accordance with local laws and regulations. The broker ensures client funds are held in segregated accounts, thereby protecting them from operational risks. Furthermore, OctaFX adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to prevent illicit activities.
OctaFX offers a diverse array of trading products, catering to various trader preferences. The broker provides access to:
The broker frequently updates its product offerings to meet market demands, ensuring that clients have access to the latest financial instruments. While primarily focused on retail trading, OctaFX also provides services for institutional clients, although this segment is less emphasized.
OctaFX supports several trading platforms, primarily focusing on the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The broker also offers its proprietary Octa Trader platform, designed to enhance user experience with real-time market data and advanced charting tools.
The broker's servers are strategically located to ensure fast execution speeds, with over 97% of orders executed without slippage. Additionally, OctaFX offers API access for automated trading solutions, catering to algorithmic traders.
OctaFX offers several account types tailored to different trading needs:
All accounts support a minimum trade size of 0.01 lots, and the broker provides Islamic swap-free accounts for clients adhering to Shariah law. Leverage options vary, with a maximum of 1:1000 for forex trading, depending on the account type.
OctaFX offers a variety of deposit and withdrawal methods, including:
Deposits are typically processed instantly, while withdrawals are completed within 1-3 hours, depending on the payment method used. OctaFX does not charge any fees for deposits or withdrawals, enhancing its attractiveness as a low-cost broker.
OctaFX provides robust customer support, available 24/7 through various channels, including:
The support team is multilingual, catering to a diverse client base. Additionally, OctaFX offers a range of educational resources, including webinars, video tutorials, and a comprehensive FAQ section to assist traders in developing their skills.
The broker also provides market analysis services, including daily updates and insights, helping traders make informed decisions.
OctaFX primarily serves clients in the Asia-Pacific region, with a strong presence in Indonesia, India, and Malaysia. The broker has regional offices in Jakarta and Cyprus, enhancing its service capabilities.
However, OctaFX does not accept clients from several countries, including the United States, Canada, the United Kingdom, and certain other jurisdictions. This limitation may affect potential clients seeking to trade with the broker.
In conclusion, OctaFX is a well-established broker with a solid reputation in the forex trading community. With its competitive trading conditions, diverse product offerings, and strong regulatory oversight, it presents a viable option for traders looking to navigate the financial markets. Whether you are a beginner or an experienced trader, OctaFX provides the tools and resources necessary to succeed in the dynamic world of forex trading.
Ka_small44
Malaysia
Octa buys with its transparency and affordability of forex trading. But still I can’t call their spreads the lowest I’ve seen. For example, attached picture from the Asian session I usually trade. 1 pip seems a good deal still expected it lower IDK Still a suitable choice for me. Good platform, fast withdrawal approvals by email, I like my experience here anyway Just opinion
Positive
07-12
AhmadSaputra
Indonesia
Really one of the best brokers when it concerns costs of trading Basically, only spreads which are lower than market average My theme was swaps, precisely lack of swaps allowing me to trade in swing style for almost free paying small amount for spreads😉 But what about being versatile?! For swing traders is safe heaven but for scalpers… Major problem, no zero spreads accounts. I wanted to expand my strategies there!
Positive
07-05
GardaSaragih
Indonesia
This has been really nice and I like how I easily can work with this broker and not feel overwhelmed. :-) The support has been helpful for the few times I reached out to them.
Positive
07-16