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Counterfeit Dealer
Score
1.34 /10
Danger
OCTAFX
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index5.67
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
Previous Detection :
2024-12-24
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| OCTAFXReview Summary | |
| Founded | 2-5 years |
| Registered Country/Region | China |
| Regulation | Unregulated |
| Market Instruments | Currency pairs, Commodities, Indices, Stocks, and Shares |
| Demo Account | ✔ |
| Leverage | Up to 1:1000 |
| Spread | From 0.6 pips |
| Trading Platform | MT4/MT5(Web, Android, Windows, macOS)/Octa Trader(Web, Android, iOS) |
| Min Deposit | $25 |
| Customer Support | Social Media: Facebook, Twitter, Instagram, YouTube |
OCTAFX Information
OCTAFX is a broker. The tradable instruments, with three account types with a maximum leverage of 1:1000, such as Octa Trader, MetaTrader 5, and MetaTrader, include currency pairs, commodities, indices, stocks, and shares. The minimum spread is from 0.6 pipsand the minimum deposit is $25. OCTAFX is still risky due to its unregulated status and high leverage.
Pros and Cons
| Pros | Cons |
| Leverage up to 1:1000 | Unregulated |
| Spread from 0.6 pips | No phone calls or online chat |
| Demo account available | |
| MT4/MT5 available | |
| 24/7 customer support |
Is OCTAFX Legit?
OCTAFX is not regulated, which makes it less safe than regulated brokers.
What Can I Trade on OCTAFX?
Traders can choose different investment directions because the broker provides currency pairs, commodities, indices, stocks, and shares.
| Tradable Instruments | Supported |
| Currency pairs | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Shares | ✔ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Traders open an account with the same minimum deposit for Octa Trader, MetaTrader 5, or MetaTrader. Traders who want more instruments can choose a MetaTrader 5 account.
| Account Type | OctaTrader | MetaTrader 5 | MetaTrader |
| Spread from | 0.6 pips | 0.6 pips | 0.6 pips |
| Trading commission | $0 | $0 | $0 |
| No deposit or withdrawal fee | Yes | Yes | Yes |
| Mini. deposit | $25 | $25 | $25 |
| Instruments | 80 | 277 | 80 |
OCTAFX Fees
NO commission and swaps and the spread starts from 0.6 pips.
Leverage
The maximum leverage is 1:1000 meaning that profits and losses are magnified 1000 times.
Trading Platform
OCTAFX provides Octa Trader, a build-in platform, for Web, Android, and iOS, along with an authoritative MT4/MT5 trading platform for Web, Android, Windows, and macOS versions.
| Trading Platform | Supported | Available Devices |
| MT4 | ✔ | Web, Android, Windows, macOS |
| MT5 | ✔ | Web, Android, Windows, macOS |
| Octa Trader | ✔ | Web, Android, iOS |
Deposit and Withdrawal
The minimum deposit is $25. OCTAFX offers multiple deposit and withdrawal methods, including Visa, Mastercard, local banks, skrill, Neteller, Bitcoin, Ethereum, and many more. Withdrawals usually take no longer than 3 hours.
Customer Support Options
OCTAFX provides 24/7 customer support, and traders can learn via social media, such as Facebook, Twitter, Instagram, YouTube, and more.
| Contact Options | Details |
| Social Media | Facebook, Twitter, Instagram, YouTube |
| Supported Language | English |
| Website Language | English |
| Physical Address | Not mentioned |
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