Founded back in 2011 OctaFX quickly became one of the top brokers in the forex industry. Regulated in the European Union through its license with the Cyprus Securities and Exchange Commission (CySEC) the broker offers premium trading conditions and a choice of several professional trading platforms, including MetaTrader5 and cTrader.

Apart from the European market, currently, OctaFX is expanding its presence in Asia with its international brand – OctaFX.com, which is registered in St. Vincent and the Grenadines.

Unlike OctaFX.eu, subject to strict leverage restrictions, imposed by the European Securities and Markets Authority (ESMA), OctaFX.com offers leverage as high as 1:500.

The Company. Security of funds

OctaFX operates both in Europe under the brand OctaFX.eu and internationally with OctaFX.com.

OctaFX.eu

Octa Markets Cyprus Ltd, which operates OctaFX on the European market, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18. The registered office of Octa Markets Cyprus Ltd is in the Republic of Cyprus. Octa Markets Cyprus Ltd complies with European Securities and Market Authority’s (ESMA) regulatory standards as well as with Market in Financial Instruments Directive (MiFID II).

The CySEC license also authorizes OctaFX to operate in virtually all EU member states, except few like Belgium, where forex trading is altogether forbidden.

What makes EU regulated brokers so reliable and transparent are the number of regulatory requirements, both fiscal and ethical, which they have to meet, including the requirement for a minimum operational capital of at least 730 000 EUR, with which the broker guarantees all outstanding payments to clients.

Also, in accordance with the applicable regulations Octa Markets Cyprus Ltd has to keep clients’ funds protected and segregated from the company’s assets, by using separated accounts. This minimizes the risk of loss.

On top of that Octa Markets Cyprus Ltd is a member of the Investor Compensation Fund. The purpose of ICF is to secure the claims of eligible retail clients and provide compensation in the event where Octa Markets Cyprus Ltd fails to meet its financial obligations. The ICF will cover up to 20 000 EUR in your trading account.

In addition, also in accordance with the European regulations, OctaFX provides traders with negative balance protection. So if your balance becomes negative due to Stop Out, Octa Markets Cyprus Ltd will compensate the amount and bring your account balance back to zero. Octa Markets Cyprus Ltd guarantees that your risk is limited to only those funds you have deposited into your account. Therefore, clients are protected from losses beyond the total value of their deposits.

Situations, when the account balance is prone to becoming negative, might take place upon significant economical events, when sudden market movements drastically affect the value of assets. Due to high volatility and price gaps, a client can lose his or her equity. As we noted, in such an event Octa Markets Cyprus Ltd compensates the account balance to zero. Basically, the negative balance protection is triggered, when margin calls and stop outs do not function correctly.

Bear in mind as well that the European Union and the UK are the only markets where negative balance protection is obligatory for all regulated brokers.

Besides, OctaFX protects sensitive personal data in alignment with the General Data Protection Regulation (GDPR).

OctaFX.com

The international subsidiary of OctaFX is operated by Octa Markets Incorporated, which is registered on St. Vincent and the Grenadines.

The more relaxed regulatory regime outside Europe enables OctaFX.com to offer higher leverage, certain trading bonuses and other benefits, which the restrictions on the European market do not allow.

We should note as well that despite the fact that outside Europe OctaFX is not required to provide negative balance protection, OctaFX.com do offer their clients protection against negative balance.

Trading Accounts

OctaFX offers different account types depending on the platform you choose. In Europe, the broker supports MetaTrader5 and offers a single account type – MetaTrader5 Account. Below you may find the main features of the said account.

OctaFX.eu Accounts

*Professional clients may be provided with higher leverage levels.

 MetaTrader5 Account

The OctaFX Conservative Trader MetaTrader5 Account comes with floating spreads starting as low as 0,3 pips, no trading commission, and the option to choose between 28 currency pairs, silver gold, crude oil, natural gas, and 10 major indices. The minimum trading step is just 0,01 lot, while the maximum trading volume allowed is 100 standard lots.

The margin close-out rule on a per-account basis is set at 50%, which means that if the Stop Out Level on the account falls below 50%, one or more open positions will be closed. Please also note that Margin Calls will be triggered at 60%. Market execution is guaranteed to be in under 0,1 sec. and hedging and scalping are allowed.

The maximum leverage allowed is in line with the regulations in the European Union and is limited to 1:30 with all major forex pairs and 1:20 with most other CFDs. Of course, if you are a professional trader and you can prove it, you may be offered leverage as high as 1:500. The minimum deposit requirement is set at 100 EUR.

OctaFX.com Accounts

As we already noted, their international subsidiary OctaFX.com, offers two trading platforms and two account types respectively – OctaFX MT4 and OctaFX MT5.

The OctaFX MT4 Account

The OctaFX MT4 Account comes with floating spreads starting from 0.6 pips. There is no trading commission and in addition to the selection of currency pairs and popular CFDs on silver, gold, crude oil, and indices, you will be able to trade 30 crypto coins as well.

The leverage available with all fiat currency pairs is much higher than what we are offered at OctaFX.eu – 1:500 and the rest of the CFDs come with higher leverage as well – the precious metals can be traded with leverage of up to 1:200, while indices and all energy commodities with 1:50. The leverage with the crypto coins is just 1:2, but this is because the crypto market is much more volatile.

As with the OctaFX.eu account, the minimum trade volume is also just 0,01 lots or 1 micro lot, while the maximum trade is set at 200 lots. The Market execution is under 0,1 second, and unlike with OctaFX.eu you will be able to open a trading account in both EUR and USD. With OctaFX.eu your only option is euro.

Be aware, however, that the Margin Call and the Stop Out Level are set significantly lower than with the EU regulated OctaFX – 25% and 15% respectively. Hedging and scalping are allowed. The minimum deposit requirement is 25USD.

The OctaFX MT5 Account

The OctaFX MT5 Account comes with floating spreads as low as 0.6 pips and no trading commission. The maximum leverage is set at 1:500 for major currency pairs, 1:200 for metals and energy commodities, 1:100 for indices, and 1:2 for crypto currencies.

The available trading instruments are the same as with the OctaFX MT4 Account, while the minimum trading step is 1 micro lot as with all other OctaFX accounts. The maximum trade volume is 500.

The minimum deposit requirement is the same – 25 USD as are the Margin Call and the Stop Out Level – 25% and 15% respectively. Hedging and scalping are also allowed.

Spreads and Commissions

Both OctaFX.eu and OctaFX.com offer floating spread that varies depending on the market situation. The broker provides transparent prices and the tightest spreads by simply passing on the best bid-ask price from their liquidity provider. This means that OctaFX spreads accurately reflect the current market situation market. The main advantage of floating spreads over fixed spreads is that they are often lower than on average. That said, however, you should be aware that floating spread may widen when the market opens, during a rollover, when breaking news is released, or when the market is highly volatile.

We should note as well that OctaFX has a strict no requotes policy and their system is set up to fill orders at the next best available price whenever slippage occurs.

Maximum Leverage

The leverage available at  OctaFX depends on whether you trade with their European subsidiary or with the international one. Because of the strict leverage restrictions imposed by the European Securities and Markets Authority (ESMA) back in 2018, the leverage levels in Europe are much lower. Besides that is one of the main reasons why many top brokers like OctaFX have registered international subsidiaries, where they can offer traders much more generous leverage levels.

Leverage available with OctaFX.eu

The maximum leverage OctaFX is allowed to offer you if you trade with their EU regulated subsidiary is 1:30 for major currency pairs.

Major Currencies include currency pairs that consist of any two of the following currencies: USD, EUR, JPY, GBP, CAD, and CHF and they have a fixed margin requirement of 3.33%.

Non-major currency pairs, gold, and major indices are offered with leverage of up to 1:20 and a fixed margin requirement of 5%, while commodities other than gold and non- major equity indices have a maximum leverage of up to 1:10 and a fixed margin requirement of 10%.

Please note that the margin close out rule on a per-account basis is set at 50%, which means that if the Stop Out Level on the account falls below 50%, one or more open positions will be closed. As we noted all of that is in line with the current forex regulations imposed by the ESMA in August 2018.

Still, if you meet the criteria for a professional trader you may be given much higher leverage – as high as 1:500.

Leverage available with OctaFX.com

With the international subsidiary of  OctaFX – OctaFX.com traders are offered much higher leverage as the broker falls outside the regulatory requirements, which are in place in Europe

Depending on the account type leverage as high as 1:500 is available with all currency pairs, while precious metals can be traded with leverage of up to 1:200 and indices, energy commodities with leverage of up to 1:100, and indices with leverage of up to 1:50. Crypto coins, which are only available at OctaFX.com can be traded with leverage of up to 1:2.

Minimum initial deposit

The minimum deposit to start trading with OctaFX is much lower than with most other brokers, both at OctaFX.eu and OctaFX.com

Minimum deposit at OctaFX.eu

No matter which account type or trading platform you choose, the minimum deposit requirement is just 100 EUR, which is significantly lower than the 250 USD required by most brokers throughout the forex industry. Bear in mind however that with OctaFX.eu you can open a trading account only in Euro.

Minimum deposit at OctaFX.com

The minimum deposit at OctaFX is just 25 USD both for the OctaFX MT4 Account and the OctaFXMT5 Account. The only exception is the Experienced Trader MetaTrader5 Pro Account, where you will have to deposit 500 USD. Take a note as well that with Octafx.com you can open a trading account both in Euro and USD.

Copytrading

OctaFX Copytrading offers an opportunity to automatically copy leading traders if you do not have the time to build your own trading strategy. With OctaFX Copytrading you can choose from the best Masters of Forex and diversify your trading portfolio.

The option is available only with Octafx.com, but if you decide to give it a try, first you will have to choose, which Master Traders you will like to follow. You can do that by comparing their master stats, which include gains, a number of copiers, commission, the trading pairs the Master Trader uses, the profit factor and order directions, as well as many other factors that you can review before making your decision to copy someone. Before copying starts you will have to set a deposit percentage and choose the amount of funds to invest with a specific Master Trader.

The volume of copied trade depends both on the Master and the Copier accounts’ leverage and equity and is calculated as Volume (copied trade) = Equity (Copier) / Equity (Master) x Leverage (Copier) / Leverage (Master) x Volume (Master).

With an unlimited number of Masters to copy you can create a balanced and diversified trading portfolio and receive a stable income. You also have full control over the process and can modify/stop copying trades at any given time. You can view detailed trading statistics for copied Master Traders in your Copier Area.

Besides, OctaFX does not charge any additional commissions – the only commission you pay is the Master’s commission, which is specified individually and is charged in dollars per lot of traded volume.

Bear in mind that there is a deposit percentage option, that you set prior to copying, that helps you to control your risk. The deposit percentage can equal anything between 1% and 100%. You set this parameter and new trades won’t be copied if the current equity goes down by a set amount from your balance according to the following formula: Equity (Copier) < (100% – the deposit percentage x Balance (Copier). And you can modify the deposit percentage even after copying has started.

And you can unsubscribe from the Master Trader and stop copying the trades at any given moment. When you do that all funds invested with the Master Trader and any profit from copying will return back to your Wallet. Before unsubscribing, however, make sure all current trades are closed.

And there is also the OctaFX Copytrading app, which will help you view how your funds are invested and manage risks in real-time.

Of course, if you are a professional trader, you can trade as usual and earn additional income from others copying you. Your master profile displays daily and monthly stats on your trading performance — promote it and attract new followers.

Bear in mind that the Master Trader commission can not exceed 15 USD per lot and you should have an OctaFX MetaTrader4 account. The Master Trader Commissions are paid every week.

Trading Platforms

In Europe, OctaFX offers its clients trading on MetaTrader 5 (MT5), where the real trading servers’ location for the OctaFX MT5 Trading platform is in Strasburg. МТ4 is only available to clients of OctaFx.com, operating outside the EU.

MetaTrader5

As most of MT4’s indicators and Expert Advisors are not supported on the MT5 platform, the latter is still in the shadow of its predecessor, the MetaTrader4 (MT4). After a number of enhancements were made to the MT5 in recent years (and the hedging option was finally added to it), it gains popularity among brokers and traders alike.

MetaTrader5 offers a powerful trading system that supports all types of trade orders, including market, pending, and stop orders, as well as trailing stops. You can also trade CFDs using this platform.

MetaTrader5 combines the simple interface of its predecessor MT4 with a number of new features covering the needs of both technical and fundamental traders; a wide range of chart timeframes, indicators, and graphical objects for more profound technical analysis. Main features include Stop Limit orders, a built-in economic calendar, advanced one-click trading tools, a highly customizable interface, and an integrated development environment for Expert Advisors – the trading robots, which allow you to run automated trading sessions.

Also, OctaFX offers the OctaFX Trading App, which comes with built-in tools to help you manage your OctaFX personal profiles, control real, demo, and contest accounts, and manage deposits. Besides, the app has an attractive and user-friendly design, which is yet another reason to give it a try.

MetaTrader4

Available only with OctaFX.com MetaTrader4 is indisputably the most popular trading platform in the forex world. As we already noted its popularity stems from the huge amount of trading software, written especially for it – both Expert Advisors and market indicators, which you can easily modify on a built-in compiler and the proprietary scripting language – MQL4.

Trading contest

The trading contests OctaFX offers their clients are available only at OctaFX.com. They are held regularly and have a set award fund. If you win a trading contest at  OctaFX you can always withdraw your award.

Champion contest 

In the Champion contest, where you trade with virtual money and a demo account, the trader with the highest balance in the end of the round wins the main prize. The duration of the contest is four weeks and the main prize – 500 USD, but there are four more prizes – 400 USD for the second place, 300 USD for the third place, 60 USD for the fourth place and 40 USD for the fifth place.

To participate in a Champion contest you should open a MetaTrader4 demo account.

Each contest account has the same trading conditions, which are: 28 currency pairs + Gold and Silver available for trading, minimal volume is 0.01 lot, maximum is not limited, initial deposit is 1000 USD, leverage is 1:500.

Deposit bonus

Trading bonuses are another feature available solely with OctaFX.com because the regulatory regime in Europe do not allow for such promotions.

A trading bonus will give you a chance to trade with a larger balance. You should bear in mind, however, that in order to withdraw the bonus you will have to meet a certain minimum trade volume requirement. For example, if your bonus is 200 USD, you will have to trade 100 lots, before you will be able to withdraw it.

Your profits however are available for withdrawal at any time. Like leverage bonus promotions are another reason why OctaFX have registered their international subsidiary.

Payment Methods

The payment methods available at  OctaFX depend on whether you trade with OctaFX.eu or OctaFX.com.

OctaFX.eu

In Europe, OctaFX accepts credit and debit cards like VISA and MasterCard, bank wire, and Skrill. The minimum withdrawable amount with bank wire and cards is 50 EUR, while with Skrill you can withdraw just 5 EUR. And bear in mind that OctaFX does not charge any deposit or withdraw commissions, no matter what the payment method is.

On top of that, the broker will cover any fees that a third-party payment provider may impose – for example, your bank or your credit card company.

And what is more, the broker does everything to guarantee the safety of your funds. The 3-D Secure technology provided by OctaFX is an additional security layer for online payments and has also been adopted by VISA and MasterCard.

OctaFX.com

With the international subsidiary of OctaFX – OctaFX.com you can deposit funds with Perfect Money – a popular e-wallet, bitcoins, and credit cards like VISA and MasterCard.