Octa

Octa Review: Is Octa any good?

Octa Broker Overview and General Information

Octa or OctaFX was founded in 2011 and is now Octa and is a company under Octa Markets Inc., registered in Saint Lucia (registration number: 2023-00092). Octa is a widely awarded Forex and CFD broker, both in terms of customer service and copy trading, serving clients in over 100 countries worldwide.

Licenses that Octa Broker has obtained

If you ask whether OctaFx broker is good or not, you must first consider the license factor, which has the following licenses:

• Cyprus Securities and Exchange Commission (CySEC) License No. 372/18 under Octa Markets Cyprus Ltd.

Trading products

There are trading products across multiple markets including Forex, Energies, Metals, Indices and Stocks, giving traders access to a wide range of financial markets, from major currencies to commodities and shares of companies around the world.

Trading platforms and tools

The broker supports 3 trading platforms including MT4, MT5 and OctaTrader.

OctaTrader

• Platform developed by brokers themselves

• Easy to use, suitable for beginner traders.

• Has complete trading functions

• Supports trading on website and mobile application

MetaTrader 4 (MT4)

• Popular and easy-to-use platform

• There are a variety of technical analysis tools.

• Supports trading on website, desktop program and mobile application.

• 9 time frames

• You can trade indices and crypto.

MetaTrader 5 (MT5)

• MetaQuotes' newest platform

• There are additional functions from MT4.

• Supports trading on both website and desktop program.

• 21 time frames

• You can trade stocks, indices and cryptocurrencies.

Broker Account Types

There are 3 account types to choose from: OctaTrader, MetaTrader 4 and MetaTrader 5.

OctaTrader Account

• Spreads start from 0.6 pips

• No commission

• No deposit/withdrawal fees

• Minimum deposit $25

• 80 instruments provided

MetaTrader 4 Account

• Spreads start from 0.6 pips

• No commission

• No deposit/withdrawal fees

• Minimum deposit $25

• 277 instruments provided

MetaTrader 5 Account

• Spreads start from 0.6 pips

• No commission

• No deposit/withdrawal fees

• Minimum deposit $25

• 80 instruments provided

Pros and cons of brokers

Pros :

• There are bonus promotions.

• There is no commission fee for any account type.

• Support deposits and withdrawals via Thai banks

Cons :

• There are few account types to choose from.

• No low spread accounts

• Low leverage

• Free Swap fee for Islamic accounts only.

• There are few products to trade.

• Live Chat does not support Thai language.

• No license information is provided on the website.

Office location and contact channels

Contact channels:

• Live Chat

• support@octafx.com

• Social media: Facebook, Twitter, Instagram, YouTube

Broker Overview Summary

Many people have probably answered the question of whether Octa or OctaFx brokers are good or not. In summary, this broker has been trusted for a long time, focusing on providing services without commissions on deposits and withdrawals and having interesting deposit promotions such as a 50% deposit bonus. However, there have been reports of unclear licenses from inquiries, so investors should study information from many places before making a decision.

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OctaFx Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.