OctaFx was registered in 2011 in Saint Vincent and the Grenadines. Their office is located at Cedar Hill Crest, P.O Box 1825, Villa, in the same region.
|Office Location||Saint Vincent and the Grenadines|
Octafx Trading conditions
The broker offers competitive spreads and they are moderate in a way. For example, you get 1.0 typical spread (variable) on EURUSD if you are using an ECN account. Other pairs like the USDJPY, AUDUSD have spreads of 1.1 to 1.8 on ECN accounts as well. Trading commission starts from 0.02 – .03/0.01 lot, but mostly 0.03 pips for each 0.01 lot traded. The spreads on Micro accounts are higher, but there seem not be a commission for trade. Islamic account is not free at Octa fx unlike Profiforex where anyone can use an Islamic account without charge.
Maximum Leverage offer for currency pair and metal is 1:500 and 1:200 respectively. Stop out level is 15%, while margin call level is 25%. Octa fx allows Hedging, scalping and the use of Expert Advisors.
Octafx trading account types
Note: The spreads on the image is different from what you will see on the platform.
Octa fx offers three payment options; Visa/Master card, Neteller and Skrill.
Octafx is scam?
We have not traded with this Forex broker, but you can do well to ask other traders on forex forums if possible. There are bad reviews on other websites about this broker, but their authenticity cannot be verified. We suggest you start with a small capital and conduct your due diligence.
Please drop your review in the comment section to help others make an informed decision.