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Octa -

Score

6.22 /10
Average

Octa

Cyprus

5-10 years

Regulated in Cyprus

Market Making(MM)

MT4 Full License

Global Business

High potential risk

https://www.octafx.eu

Influence

C

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Comparison

Quantity 115

Exposure

Time Machine
Website

Score

Regulatory Index6.67

Business Index7.17

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

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Danger

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2022-09-20
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Danger

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2020-01-01
INVESTOR ALERT LIST
Octa

Broker Information

More

Company Name

Octa Markets Cyprus Ltd.

Company Abbreviation

Octa

Platform registered country and region

Cyprus

Company website

X

Facebook

Instagram

YouTube

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 3
Previous Detection : 2024-12-22
  • The number of the complaints received by WikiFX have reached 106 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 Survey

Danger

Octa

Cyprus

WikiFX Verification

Exposure

115 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Withdrawal is too slow

Withdrawal is too slow, it hasn't arrived for a day.

2024-09-15 03:52
Unable to Withdraw

my withdrawal note received in my bank account

octa fx is a fek broker my withdrawal not received in my bank account octafx officially ap is a show complete in a withdrawal 463$

2023-08-23 00:05
Others

They took part of my money in my withdrawal.

I earned a late 5 thousand dollars, after that they blocked my access to the account without any explanation, banned me from the platform and the payment I received was less than half of my earnings.

2024-02-09 17:06
Unable to Withdraw

I opened a sell USDJPY

I opened a sell USDJPY position on OctaFX to hedge import costs. Despite generating a profit for 15615 USD, OctaFX accused me of arbitrage and seized my funds. I provided ample evidence to prove that my hedging was legitimate, and multiple OctaFX agents confirmed this. However, OctaFX's compliance department insisted otherwise. I tried filing a complaint with CySEC, but they responded that OctaFX is no longer regulated by them. I urge other traders to be cautious when using swap-free accounts, as there's a risk of your profits being unfairly seized.OctaFX's actions were unjustified and have damaged my trust in the company.

2024-08-18 17:53
Scam

chart manipulation issues unable to close the trad

my whole wealth will be destroyed by this broker Deposit is more than withdrawal

2024-12-07 18:32
Resolved

do not give me confirm my trade advance setting?

pls see my trade advance do... market is goin on 1953... when i check my trade this time also pending.. pls check my sell trade time ..

2023-09-02 00:43
Scam

after trading from 31

after trading from 31 dollars octa Fx took all of my funds and disable my trading account and also blocked my profile that 800 isnt a withdrawal at all it was a transfer to my mt4 account stay away from this scam broker save your funds guys thank you

2024-09-26 22:51
Unable to Withdraw

Octafx maliciously refuses withdrawals

I have been a client of Octa Markets Ltd since 29-July-2024. The first deposit of USD19,000 was made on 29-Jul-2024, and the first withdrawal USD32,000 was made on 14-Aug-2024. On 10-Sep-2024, I submitted a request to withdraw USD13,000 from my account. Despite complying with all necessary verification processes and providing the required documentation, my withdrawal request has been unjustly denied. Now I can't login to my account! This has caused me significant distress and financial inconvenience. Despite my attempts to resolve this issue directly with Octa Markets Ltd through their customer support, I have not received a satisfactory response or a clear explanation for the denial of my withdrawal. The lack of transparency and the refusal to release my funds suggest potential misconduct or malpractice.

2024-10-25 10:46
Scam

A fraudulent company blocks large accounts

This company suspended my account and there was a large sum of more than $70,000 in it

2023-09-21 05:54
Unable to Withdraw

unable to withdraw ,the de verified rhe account

they deverified the accound and asked for document which i already submitted 2 days back still till now not verified and not letting me with draw too

2024-08-26 20:55
Resolved

turky

hi my name is riham Ramadan the OctaFX have stopped withdrawal my account I have 23000$ in my account and no one of them give time to release the account always the telling me soon you will receive email and we will solve this problem almost one month

2024-03-24 23:48
Unable to Withdraw

Profit cannot be withdrawn, and the principal cannot be withdrawn three times.

I deposited 9900 on June 17th to the Octa platform. Due to the platform's bonus promotion and high leverage, my funds doubled within a month. At this point, I wanted to withdraw the profits, but the platform refused my withdrawal request and asked me to provide KYC and three months of USDT wallet transaction records. After providing the requested documents, the platform claimed that I engaged in unauthorized trading. However, I traded normally, placing manual orders without delay or pushing positions. They want to deduct my profits and I even considered just getting back my initial investment. It has been almost three months now, and my initial investment has still not been withdrawn. Every time I communicate with the platform via email, their response is either that they are handling my withdrawal request normally or that it has been forwarded to the finance department. I hope that through Tianyan, the platform will address this issue correctly. Thank you.

2024-09-25 21:18
Unable to Withdraw

Fraud, no payout

Since the EU accounts were canceled, there have been no more payouts, only standard answers from support

2024-06-03 10:27
Scam

scam

never use octa as a broker they are pure scammer the more gain my profit the more i loss. both my capital and profit lost while my trade giing all the way up.

2024-04-06 13:30
Resolved

They don't give you a refund. I'm still waiting

My name is jangsooyoung. The deposit caused by the payment problem has been delayed and this deposit has to be refunded to me from octafx. But they're delaying this refund and I've been having this unpleasantness for two weeks.I was expecting a quick refund due to their quick response but they are just asking me to wait.I'm not sure if they really refund my deposit. 

2023-08-03 14:44
Unable to Withdraw

Extremely Poor Support with No Resolution or Clear

I have been using Octa for a while, but recent experiences have been extremely disappointing. For over two weeks now, I've been facing an issue that was supposedly escalated to their finance team and senior management, but there has been no resolution or clear update on what's happening. Despite repeated follow-ups, all I get are generic statements like: "Our processing department is still in the midst of investigating this issue." "This will be the report number that has been escalated to our finance team regarding this clarification: 3858103" "Please know that we're taking this issue very seriously and are working to resolve it as quickly as possible." No SLAs or ETAs have been provided, and it feels like the finance team is running the entire operation with no accountability to the customers. It's honestly frustrating to see no concrete progress despite my issue being escalated to high-level management. I would urge others to be cautious when dealing with Octa.

2024-10-24 16:33
    Octa · Company summary
    OctaReview Summary
    Founded2011-07-28
    Registered Country/RegionCyprus
    RegulationRegulated by CYSEC
    Market InstrumentsCurrency Pairs, Commodities, Indices, and CFDs on crypto pairs
    Demo Account✅
    Leverage1:30
    Spread0.1 pips
    Trading PlatformOctaTrader(Desktop and Android)
    Min Deposit50 EUR
    Customer SupportEmail:clientsupport@octaeu.commarketing@octaeu.com
    Social Media: Facebook, Twitter, Instagram

    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
    Regulated by CYSECNo 24/7 customer support
    Demo account availableMT4/MT5 unavailable
    Swap free
    Various instruments: currency pairs, commodities, etc.
    Spread as low as 0.1 pips

    Is Octa Legit?

    CYSEC regulates Octa. However, being regulated does not mean there are no risks. Several traders from this broker have reported that Octa has difficulty withdrawing funds.

    Is Octa Legit?
    Is Octa Legit?

    What Can I Trade in Octa?

    Octa provides 28 most volatilecurrency pairs, commodities, up to 10 most popular 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?

    Account Type

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

    Account Type supported
    Demo account✔
    Real account✔
    Account Type

    Octa Fees

    The spread is from 0.8 pips(EUR/USD), 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 available on the Web, Desktop, and Android versions.

    Trading PlatformSupported Available Devices
    OctaTrader✔Web/Desktop/Android
    Trading Platform
    Trading Platform

    Deposit and Withdrawal

    The minimum deposit is 50 EUR, while the minimum withdrawal amount is 50 EUR for bank transfers and 5 EUR for Skrill.

    Investors can deposit momentarily via Visa, Mastercard, local banks, Skrill, and bank account transfers. Visa, Mastercard, and Skrill transfers are processed momentarilyDeposit or withdrawal using the bank account might take 3–7 business days. Skrill is only available to verified users.

    In addition, without verification, traders cannot withdraw funds and the maximum deposit is 2,000 EUR. If traders' profile is verified, deposits and withdrawals are unlimited.

    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 be via Facebook, Twitter, and Instagram.

    Contact Options Details
    Email clientsupport@octaeu.commarketing@octaeu.com
    Social Media Facebook, Twitter, Instagram
    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

    NewsProfiting from the crypto boom: Octa broker's guide to leveraged trading

    With Bitcoin going through the roof in 2024 and the entire crypto market showing substantial growth, retail investors' interest in this asset class also peaked. But how best to profit from the changes

    WikiFX
    2024-12-17 17:45
    Profiting from the crypto boom: Octa broker's guide to leveraged trading

    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
    About More

    User Reviews

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    User comment

    126

    Comments

    Write a review

    Joko Prabowo
    0-3months
    Idk how these platforms are much different. You got space.. and that's kinda it. Seems like the collection could have been a bit bigger.
    Idk how these platforms are much different. You got space.. and that's kinda it. Seems like the collection could have been a bit bigger.
    Translate to English
    2024-12-08 18:29
    Reply
    0
    0
    anu321
    more than one year
    my whole wealth will be destroyed by this broker Deposit is more than withdrawal
    my whole wealth will be destroyed by this broker Deposit is more than withdrawal
    Translate to English
    +3
    2024-12-07 18:32
    Reply
    0
    0
    99+