Octa

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.

Pros and Cons

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.

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.

Account Type

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

Octa Fees

The spread is from 0.8 pips(EUR/USD), the commission is a three-day fee and the swaps are free.

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.

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.