Score

6.22 /10
Average

Octa

Regulated in Cyprus

Market Making(MM)

High potential risk

C

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Comparison

Quantity 112

Exposure

Time Machine
Website

Score

Regulatory Index6.67

Business Index7.13

Risk Management Index0.00

Software Index9.99

License Index6.32

The WikiFX Score of this broker is reduced because of too many complaints!
Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
Octa
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Danger

MY SCM
2020-01-01

Broker Information

More

Company Name

Octa Markets Cyprus Ltd.

Company Abbreviation

Octa

Platform registered country and region

Cyprus

Company website

Twitter

Facebook

Instagram

YouTube

Company summary

Pyramid scheme complaint

Expose

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WikiFX Risk Alerts 2
Previous Detection : 2024-10-21
  • The number of the complaints received by WikiFX have reached 103 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
Expose
    Octa · Company summary
    OctaReview Summary
    Founded2011-07-28
    Registered Country/RegionCyprus
    RegulationUnregulated
    Market InstrumentsCurrency Pairs, Commodities, Indices, and CFDs on crypto pairs
    Demo Account
    LeverageNot mentioned
    SpreadNot mentioned
    Trading PlatformOctaTrader(Desktop and Android)
    Min Deposit50 EUR
    Customer SupportEmail:clientsupport@octaeu.commarketing@octaeu.com
    Social Media: Facebook, Twitter, etc.

    Octa Information

    Octa is a broker that provides various tradable instruments, including currency pairs, commodities, indices, and CFDs on crypto pairs. Traders can use a built-in trading platform. Octa launched a demo and real account with a minimum deposit of 50 EUR.

    Octa Information

    Pros and Cons

    Pros Cons
    RegulatedUnclear leverage and spread information
    Demo availableNo 24/7 customer support
    Swap freeMT4/MT5 unavailable
    Various instruments: currency pairs, commodities, etc.

    Is Octa Legit?

    CYSEC regulates Octa. However, being regulated does not mean there are no risks.

    Is Octa Legit?
    Is Octa Legit?

    What Can I Trade in Octa?

    Octa launched currency pairs, commodities, indices, and CFDs on crypto pairs. Commodities include gold, silver, crude oil, and gas.

    Tradable Instruments Supported
    Currency pairs
    Commodities
    Indices
    CFDs on crypto pairs
    Shares
    ETFs
    Bonds
    Mutual Funds
    What Can I Trade in Octa?
    What Can I Trade in Octa?

    OctaType

    Octa provides real and demo accounts. Demo accounts can simulate CDF trading with no real funds.

    Account Type supported
    Demo account
    Real account
    OctaType

    Octa Fees

    The spread is not mentioned, the commission is a three-day fee and the swaps are free.

    Octa Fees

    Leverage

    The maximum leverage of Currency pairs is 1:30, the leverage range of Commodities products is 1:10 to 1:20, and the maximum leverage of the index is 1:20.

    Trading Platform

    Octa has a built-in proprietary trading platform - OctaTrader, which supports the Android version

    Trading PlatformSupported Available Devices
    OctaTraderDesktop and Android
    Trading Platform
    Trading Platform
    Trading Platform

    Deposit and Withdrawal

    The minimum deposit is 50 EUR. Investors can deposit momentarily via Visa, Mastercard, local banks, and Skrill, and bank account transfers within a week.

    Deposit and Withdrawal

    Customer Support Options

    Octa provides email instead of phone contact, which will result in traders being unable to deal with emergencies on time. Following Octa can also via Facebook, Twitter, etc.

    Contact Options Details
    Email clientsupport@octaeu.commarketing@octaeu.com
    Social Media Facebook, Twitter, etc.
    Supported Language English
    Website Language English
    Physical Address 1 Agias Zonis and Thessalonikis Corner, Nicolaou PentadromosCenter, Block: B', Office: 201,3026, Limassol, Cyprus
    Customer Support Options
    Customer Support Options

    News

    NewsOcta Announces Spreads Reduction During U.S. Presidential Election

    Octa offers reduced spreads during the US election, helping traders capitalize on market volatility. From Oct 15 to Nov 15, enjoy lower costs on major indexes to boost profits.

    WikiFX
    2024-10-21 14:02
    Octa Announces Spreads Reduction During U.S. Presidential Election

    ExposureOctaFX Denies Allegations After India Seizes $9.6 Million

    OctaFX denies claims of false promises after Indian authorities seized $9.6 million, emphasizing their commitment to transparent and educated Forex trading practices

    WikiFX
    2024-08-07 16:30
    OctaFX Denies Allegations After India Seizes $9.6 Million

    ExposureED Raids OctaFx in Fraud Case, Seizes Rs 80 Crore

    ED raids forex trading platform OctaFx in a massive fraud case, seizing over Rs 80 crore in assets. Investigations reveal extensive money laundering.

    WikiFX
    2024-07-25 15:42
    ED Raids OctaFx in Fraud Case, Seizes Rs 80 Crore

    ExposureIndian authorities accuse OctaFX, broker denies

    OctaFX, a well-known brokerage firm, has recently come under charges of money laundering and chart manipulation by Indian authorities. The company denied the accusations and said the allegations are baseless.

    WikiFX
    2024-04-26 13:44
    Indian authorities accuse OctaFX, broker denies

    User Reviews

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    User comment

    112

    Comments

    Write a review

    VenkataKapudia
    0-3months
    There are three types of trading accounts available to choose from and I was trading through the OctaTrader account and I didn’t like the user interface of the platform and it was really inconvenient to navigate around there at first. The functionality of the OctaTrader platform is huge and probably needs some time to adapt to it and understand how everything works.
    There are three types of trading accounts available to choose from and I was trading through the OctaTrader account and I didn’t like the user interface of the platform and it was really inconvenient to navigate around there at first. The functionality of the OctaTrader platform is huge and probably needs some time to adapt to it and understand how everything works.
    Translate to English
    2024-10-11 02:52
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    Penyembah Pesut
    0-3months
    saya kemaren trading untuk mengetahui apakah Octa ini punya eksekusi cepat terhadap SL dan TP, ternyata dia memanipulasi Slippage, LOGIKANYA SL ITU WAJIB TERTUTUP KETIKA KITA MENGALAMI SALAH OPEN POSISI DAN KETIKA NEWS HARUSNYA EKSEKUSI MEREKA CEPAT NAMUN? MEREKA MENGARAHKAN HARGA SL SAYA KE ARAH TP SAYA YANG HASILNYA SAMA SAMA BESAR, APA KATA BROKER MEREKA? MEREKA BILANG KARNA PASAR SEDANG TIDAK STABIL, DAN HARGA YG DITENTUTKAN MEREKA ADALAH HARGA TERBAIK SAAT ITU, LALU BAGAIMANA KALAU SAYA CUMA MEMBUKA 1 POSISI SATU ARAH? ANGGAP SAYA SAYA MELAKUKAN POSISI BUY DENGAN MODAL 30$ SL (20 PIPS) LALU NEWS BERLANGSUNG DAN HARGA TURUN DAN MEREKA MEMINDAHKAN SL SAYA SEJAUH 70 PIPS MASUK AKAL TIDAK? PASTI MC DAN HABIS SALDO SAYA, SL ITU HARUS SESUAI DENGAN YANG TERTERA MEREKA SAMA SEKALI TIDAK MAU RUGI, SILAHKAN SILAHAT SCREENSHOOT AN BUY DAN SELL SAYA SERTA TP DAN SL, BANTU SAYA LAPORKAN BROKER OCTA INI, BILA PERLU KITA TUNTUT MEREKA, TIDAK SEBERAPA TAPI BERBAHAYA BAGI TRADER LAINNYA
    saya kemaren trading untuk mengetahui apakah Octa ini punya eksekusi cepat terhadap SL dan TP, ternyata dia memanipulasi Slippage, LOGIKANYA SL ITU WAJIB TERTUTUP KETIKA KITA MENGALAMI SALAH OPEN POSISI DAN KETIKA NEWS HARUSNYA EKSEKUSI MEREKA CEPAT NAMUN? MEREKA MENGARAHKAN HARGA SL SAYA KE ARAH TP SAYA YANG HASILNYA SAMA SAMA BESAR, APA KATA BROKER MEREKA? MEREKA BILANG KARNA PASAR SEDANG TIDAK STABIL, DAN HARGA YG DITENTUTKAN MEREKA ADALAH HARGA TERBAIK SAAT ITU, LALU BAGAIMANA KALAU SAYA CUMA MEMBUKA 1 POSISI SATU ARAH? ANGGAP SAYA SAYA MELAKUKAN POSISI BUY DENGAN MODAL 30$ SL (20 PIPS) LALU NEWS BERLANGSUNG DAN HARGA TURUN DAN MEREKA MEMINDAHKAN SL SAYA SEJAUH 70 PIPS MASUK AKAL TIDAK? PASTI MC DAN HABIS SALDO SAYA, SL ITU HARUS SESUAI DENGAN YANG TERTERA MEREKA SAMA SEKALI TIDAK MAU RUGI, SILAHKAN SILAHAT SCREENSHOOT AN BUY DAN SELL SAYA SERTA TP DAN SL, BANTU SAYA LAPORKAN BROKER OCTA INI, BILA PERLU KITA TUNTUT MEREKA, TIDAK SEBERAPA TAPI BERBAHAYA BAGI TRADER LAINNYA
    Translate to English
    2024-10-07 11:23
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