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OctaFX Review

  • Regulated by: Unregulated
  • Used by: 300+ traders
  • Trust Rating: D
Open OctaFX's Website

Losses can exceed deposits


To open a live account, you’ll need a minimum deposit of at least $5. Alternatively, OctaFX offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by . OctaFX puts all client funds in a segregated bank account and uses tier-1 banks for this. OctaFX have been established since 2011 , and have a head office in St. Vincent and the Grenadines .

Before we dive into some of the more detailed aspects of OctaFX ’s spreads, fees, platforms and trading features, you may want to open OctaFX ‘s website in a new tab by clicking the button below in order to see the latest information directly from OctaFX.

Open a demo account Visit OctaFX

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

OctaFX screenshot


  • Used by 300+ traders
  • Established in 2011
  • Regulated by Unregulated
  • Min. deposit from $5


What are OctaFX's spreads & fees?

Like most brokers, OctaFX take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum fixed spreads listed on OctaFX’s website. The colour bars show how competitive OctaFX' spreads are in comparison to other popular brokers featured on BrokerNotes.

OctaFX variable spread is not available. If you believe this is incorrect please fill in our form

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, OctaFX 's minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with OctaFX vs. similar brokers.

See all Spreads
Losses can exceed deposits

How much does OctaFX charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with OctaFX at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index .

OctaFX XTB City Index
Spread from: N/A $ 2.00 $ 5.00
Typical overnight fee: N/A $ 7.94 $ 20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 25.6
Visit OctaFX Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits

General Fees

  • OctaFX doesn’t charge inactivity fees*
  • OctaFX doesn’t charge withdrawal fees*


  • OctaFX doesn’t charge commission on CFD shares

What can you trade with OctaFX?

OctaFX offers over different instruments to trade, including over currency pairs. We’ve summarised all of the different types of instruments offered by OctaFX below, along with the instruments offered by XTB and City Index for comparison.

FX / Currencies OctaFX XTB City Index
# of forex pairs offered 50 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs OctaFX XTB City Index
# of commodities offered 0 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs OctaFX XTB City Index
# of Stocks offered 1500 4500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See OctaFX's InstrumentsSee XTB's InstrumentsSee City Index's Instruments
Losses can exceed deposits

What’s the OctaFX trading experience like?

1) Platforms and apps

OctaFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. OctaFX is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers.

OctaFX Screenshot See OctaFX 's Platforms

OctaFX also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See OctaFX 's platforms
Losses can exceed deposits

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

OctaFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. OctaFX allow you to execute a maximum trade of 10 Lot. As OctaFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that OctaFX offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller

3) Client support

OctaFX support a limited number including English

OctaFX have a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with OctaFX

As OctaFX is regulated by Unregulated , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore OctaFX’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with OctaFX you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.octafx.co.uk/ on August 23, 2018.