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Danger
MY SCM
2020-01-01
INVESTOR ALERT LIST 
OctaFX
No Regulation
Score
1.31 /10
Danger
OctaFX
2-5 yearsSuspicious Regulatory License
High potential risk
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Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index5.47
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
open now
Regulatory disclosure
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Warning: Low score, please stay away!
2
Previous Detection :
2024-11-11
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| OctaFX Review Summary | |
| Founded | 2013 |
| Regulation | No regulation |
| Market Instruments | Forex pairs, Metals, Energies, Indices, Cryptocurrencies, Stocks and Intraday assets |
| Demo Account | ✔ |
| Leverage | Up to 1:1000 |
| Spread | From 0.6 pips |
| Trading Platform | OctaTrader, MT4 and MT5 |
| Min Deposit | $25 |
| Customer Support | Website: https://octamarkets.net/landing/earn-more/ |
| Email: support@octafx.com | |
| Physical Address: 60 Philpot street El 2DWLondon | |
OctaFX Information
OctaFX, founded in 2013, is an established brokeraged registed in China. It offers three different account types, including demo account and Islamic account. But it is currently unregulated and lacks security.
Pros and Cons
| Pros | Cons |
| Diversified trading products | No regulation |
| Support MT4 & MT5 | The deposit threshold is up to $5,000 |
| Offer Islamic account | |
| Offer demo account |
Is OctaFX Legit?
The current information shows that OctaFX has no valid regulation
What Can I Trade on OctaFX?
OctaFX offers traders the opportunity to trade Forex pairs, Metals, Energies, Indices, Cryptocurrencies, Stocks and Intraday assets.
| Tradable Instruments | Supported |
| Forex pairs | ✔ |
| Metals | ✔ |
| Energies | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| Intraday assets | ✔ |
| CFDS | ❌ |
Account Types
OctaFX offers a total of 3 different types of accounts to traders - OctaTrader , Meta Trader 4 and Meta Trader 5.
OctaFX Fees
OctaFX offers low spreads from 0.6 pips, don't charge commissions for deposits, and cover the fees applied by payment systems for both deposits and withdrawals.
Leverage
OctaFX's maximum leverage levels is from 1:1000, and it is applied depending on the amount of trading account's personal funds:
Trading Platform
OctaFX's trading platform is MT4, MT5 and their own platform called “OctaTrader”, which supports traders on the web and mobile.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 Margin WebTrader | ✔ | Web, Mobile | Beginner |
| MT5 | ✔ | Web, Mobile | Experienced |
| OctaTrader | ✔ | Web, Mobile | All |
Deposit and Withdrawal
The broker supports four payment methods: VISA, bitcoin, skrill and so on. The minimum amount are as follows and the fees are free.
Deposits
| Payment method | Minimum amount | Execution time |
| Neteller | 50 USD | Instant |
| Skrill | 50 USD | Instant |
| Litecoin | 0.3 LTC | 3-30 minutes |
| Dogecoin | 230 DOGE | |
| Tether | 50 USDTE | |
| Ethereum | 0.2 ETH | |
| Bitcoin | 0.00037 BTC | |
| Mastercard | 50 EUR | Instant |
| Visa | 25 USD | 1-5 minutes |
Withdrawals
| Payment method | Minimum amount | Execution time |
| Neteller | 5.00 USD | 1-3 hours to approve the withdrawal and up to 5 minutes to transfer the funds. |
| Skrill | 5.00 USD | |
| Litecoin | 0.11 LTC | 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds. |
| Dogecoin | 75 DOGE | |
| Tether | 10 USDTE | |
| Ethereum | 0.005ETH | |
| Bitcoin | 0.00009 BTC | |
| Visa | 20 USD | 1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds. |
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