Octa
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
Octa has won more than 70 awards since its foundation, including the ‘Most Reliable Broker Asia 2023’ award from Holiston Media and the ‘Best Forex Broker 2023’ award from AllForexRating.com
Octa, a financial broker with globally recognised licenсes, have recently introduced some significant enhancements to their proprietary trading solution, OctaTrader. A comprehensive financial ecosystem designed for traders of various skill levels, OctaTrader consists of four fundamental elements: payments and transactions, the trading platform, an analytical hub called Space, and a special offers section. These core pillars of the solution's architecture are merged within a single application.
Octa
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About one year ago, I tried OctaFx. My impressions were negative. They havent skrill wallet in EUR, so if you would to deposit your EUR account, you had to pay conversion fees to Skrill. Also, they told for a 50% bonus on all accounts, but when I opened an account with CTrader platform and asked my bonus, they told me that the bonus are only for MT4 accounts (In their promotion they wrote that bonus is applicable for ANY account). So, I decided to withdrawal all my money and got out from OctaFX
Fortunately, a few months ago they fixed both these problems. They create Skrill wallet in EUR, so the deposit in EUR account hasnt any conversion fee. And they give also the 50% bonus to CTrader accounts.
So, I decided to give a second try to them with a very little deposit.
But.. Unfortunately, I disappointed again. Although they give me the 50% bonus for my CTrader account deposit, they dont calculated correct the traded volume lots, that I have done!! (Only if you trade a min lot size, you can withdraw the bonus)
I contacted them about one week ago, and they told me that they will fix it. But they havent anything!
At least I have see a very scrap work. If you advertise a promotion, you MUST have do the corrrect work, and dont injustice your clients. There isnt any extenuation for that. I told them about their wrong calculation one week ago, and they havent fix anything.
No one trader can accept any inhonestly in broker that he is trading
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I have been trading with octafx for almost a year now and it's high time to share my review. I'll give you my experience, feelings, hopes and so on. Firstly, about what I don't like:
- spreads are above average (usually between 1.3 - 1.7 pips for EURUSD). It's not a broblem to find a broker with lower one`s. They promise better spreads on their ECN accounts, but I haven`t tried them.
- execution needs to be improved. I trade mostly on MT4 desktop platform and I have experienced connection interruptions.
Things I like about them:
- I use Skrill for deposits and withdrawals and I absolutely like the fact that withdrawals are automatically processed. It takes literary less than a minute to get the money from my trading account into my Skrill account.
Great amount of currencies, exotic either, usually brokers will allow you to have your account either in EUR, USD or GBP.
low deposit and withdrawal fees (for Skrill).
they allow any trading styles - from hedging to scalping.
If Octafx could improve execution and provide tighter spreads I think they would be on the tip of the iceberg, they have some really good features.
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Best for scalping?
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Always select a broker that pays instantly, I mean you will know if they cheat, as you won’t get paid instantly, so till they are honest, it is all instant. Octafx has instant money transactions system, so I am very secure with things and having instant payment is like guarantee type of stuff for me. I have been working with them for 2 years, I have 2 accounts one for scalping and other for long term (swapfree), I don’t make massive profits, but at least it is something I can be happy about.
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maybe he use arbitrage or something, we know that such strategy is not allowed in any forex broker.. Octafx is good for you if you deposit small amount like 100$ - $500, but you need to becareful if you have huge balance and try to do fast scalping very often below 1 minutes on every trades, if you do that they will kick you out..
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r you sure u can have 3 account from one real person? i'm not too sure you can have multiple accounts unless you're trying to cheat.
and as far as i know you can scalp too.
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Dear hopef,
We sincerely apologize for this incident and would like to inform you that our web-site will be updated as soon as possible. Thank you for your attention to this topic, we hope that you'll have only positive experience with OctaFX in the future.
Best regards,
OctaFX Rep.
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I am attaching a larger screenshot of the bonus rules from the octafx fake proromotion
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This is really a very LAUGHABLE explanation and I am not waiting this explanation from you. I was waiting more seriousness from you than the chat. I let the readers of this topic to draw their own conclusions, about your makreting inaccuracy. I am sorry, but I see that you are continuing to try to dupe me about the bonus. Why are you writing LIES on your webpage banner and on your facebook advertisment?? Why are you telling that bonus is available on ALL account types? And why you are not telling clearly on the bonus rules that the bonus is available only on the MT4 accounts? Are you really serious broker or are you a marketer only?
As you are trying again to dupe me on bonus, I am attaching again your deceptively banner on your webpage about the bonus. And I am also attaching a screenshot of the bonus rules, on your webpage, that are you writing that the bonus is available on ALL account types. If you have hide an intimation only on other sentence of the rules, you are simply a draft company and not a serious company. And of course I cannot suffer your sketchiness. I am waiting to show a minimum sensitive and to really recover your injustice to me. Any try of dupe me again, will only expose you
Please be careful and be serious..
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Could you write this clear on your webpage, to not confuse your clients, please?. Your clients have the right to know exactly about the fees. And you cannot tell that the deposit via skrill is free of charges, because it is a marketing lie. You MUST inform your clients about the really costs on deposit via skrill the eur account. It is too difficult to get informed your clients?
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Hello hopef!
Thank you for your feedback!
1. We don't have EUR Skrill wallet, so, if you deposit EUR via Skrill, this deposit is converted into USD and then into EUR and it's called a double exchange and not a commission (we do not apply any commissions). So, if you deposit 100EUR by Skrill, you will finally have 97,5 EUR. I would recommend you to make deposits via Neteller which has the so-called EUR wallet.
2. Let me make the situation clear. Initially, this bonus was supposed to be provided for all account types, but then the bonus program for cTrader had to be finished off and developed, so we are on the step of its development (it's being worked on now and it will be available as soon as possible), but if you read the bonus rules, you will see that it is available only for MT4 account ("After the required volume is completed, the bonus will be deducted from your MT4 credit and simultaneously deposited into your balance".)
3. We highly appreciate your opinion, it helps us to improve our services and make your trading experience more and more convenient. Thank you!
Best regards,
OctaFX Rep.
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Hello Octa_FX,
I really appreciate your try to solve my problem, and thats a sign that you are trying to be serious broker. Unfortunately, I didnt met good support on live chat, so I have to answer you in public on this topic.
1. As you are telling that depositing via skrill is free of charges, you have to do any requirement explanations about the currency of depositing. Because, the only thing that your client, is interested in, is if he can deposit his account with or without commissions. If you havent wallet on eur on skrill, I think that its not difficult to create one. And if you dont want to create one, I think that you have note it on deposit options. For now, really you covered me, my fees and I thank you. But I would like to know if the skrill deposit on eur currency is free of commisions or no? So, if I deposit 100eur by skrill, will I have these on my account, or I will have 97,5 eur?
2. I am waiting from a serious and good broker, to keep his word. On your webpage, you are writting that bonus is available on ALL account types and on EACH deposit. I am also attaching 2 screenshots. One from your webpage, and one from a facebook advertisement. So anyone who opens an account on ctrader, is waiting to receive the bonus. But if you are not ready to give bonus on ctrader accounts yet, you must write it on your webpage, and not write inaccuracies. Really, I have test a lot of broker. But these problems I havent met on noone broker. And I cannot believe that you are not serious broker and you are telling lies on your advertisements.
3. I did some trades with your broker and I see that it has fast and good execution. Congratulatios for that, and I hope that you will be really serious and reliable broker
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thanks it brings back the things in perspective
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Dear hopef,
Thank you for your opinion, and we are very sorry that you weren't happy about trading with us.
We just want to let you know that OctaFX covers all the commissions and we don't have any hidden fees (all the information regarding commissions is provided at our web-site). This issue happened only because of the Skrill excnange rate and we are very sorry for this situation. Compensation for this issue has been already charged on your account. The follow-up letter with the detailed explanation of this situation has been sent to you by e-mail either.
I also want to assure you that the deposit bonus for cTrader account is being worked on now and it will be available as soon as possible.
Best regards,
OctaFX Rep.
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I made really nice profit with these guys and I havent seen anything you describe above.
I lost the account being too greedy but not their fault.
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really bad...do you think all brokers are doing that?
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New account they will not interfere, There are some animals working in fraud section, those people will monitor those account and will install plugins, if the accounts make extreme profit
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When you make close order at profit, they will execute only with minus slippage of 5-6 pips, same way also opening trade will execute by 5-6 pips against, so net 10-12 pips wll loose in each trade
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They have plugin to make delay upto 5 6 pips
please explain that?
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I have negative experience from octafx. They have very draft and bad organisation.
Today, I tried to fund my real EUR account with a minimum amount to demonstate the broker in real conditions. On their page, they are writting that depositing the account using skrill, its free and all the fees are covered by octafx. So, I choose skrill to deposit 80.43 eur on my EUR account. But on my skrill account, I see that it charged me for 83.21 eur. Thats a 3.5% hidden fee!!!
I contacted to chat suppor and they answered me that; "our Skrill wallet is in USD, and a double exchange rate has been applied to your transfer. First your funds were converted to USD according to Skrill rates and then again they were converted to EUR as per Forex."
It is very bad policy from octafx, and it seems that it has hidden commisions and charges. I think that it isnt too difficult to create a EUR wallet on skrill. And if they dont want to create it, they MUST had written that on deposit informations for skrill. But they havent any warning for that.
After that, I met one another bad surprice; I asked for my deposit bonus, and they told me that it is applicable only for MT4 accounts and not for octafx. But in their page, they are wriiting that bonus is applicable on ANY type account and on ANY deposit..
The support of live chat is too bad and they are not mattering to correct the problems that I met.
They give me the impression of a very draft and very bad organisation. They have lost thei reliable for me
