You can trade 35 currency pairs, metals, CFDs, indices and digital assets on Octa. The company is registered in Saint Lucia under business reg. number 2023-00092. OCTA activity is supervised by Saint Lucia’s authorities.
Regulation: Octa is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker adheres to all the financial standards and operational guidelines mandated by this regulatory body. This offers an assurance that Octa follows best practices in terms of transparency and integrity. The broker possesses multiple internationally recognised licenses, including licenses issued by FSCA in South Africa, CySEC in Cyprus, and MISA in the Comoros.
Fraud Prevention: As for fraud prevention, Octa employs advanced encryption technology to secure sensitive data and financial transactions. Stronger authentication procedures are in place to prevent unauthorized access.
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Client’s Fund Security: Octa maintains segregated accounts. This means client funds are kept separate from the company’s own operational funds. This segregation ensures client money is not used for other operational purposes and is safe in case of unforeseen company issues
Octa account can be opened online with a minimum deposit of $20 for currency. Deposits can be made using Neteller, Skrill, Local banks, and Paytm. You can also deposit/withdraw through Mastercard.
You benefit from a practice demo account, nil deposit and withdrawal commission and fast trade execution on Octa.
Ultra-low spreads
Quick withdrawals and deposits
300+ trading assets
You can trade-in
- 35 currency pairs, for example, EUR/USD, GBP/USD and others
- 150 CFDs on stocks
- 2 Metals, Gold & Silver
- 3 Energies
- 10 Indices like Nasdaq and DowJones
- 230 trading assets, including digital assets
Depending on your trading experience & platform requirement, you can open the following three account types
- OctaTrader account – for new and experienced traders
- MetaTrader 4 account – for new Fx traders
- MetaTrader 5 account – for experienced traders
But you need to maintain the account currency in either USD or EUR.
You can trade higher limits with a maximum leverage of 1:500 and negative balance protection.
New FX traders can explore the video tutorials and gainfully use the copy trading option to get started trading.
What I Like
- 0% commission, no overnight fee, and negative balance protection
- Quick withdrawals and deposits via various payment options
- Trading in digital assets (cryptos) available
- Space feed shows you personalized trading ideas
- 24×7 online support in Hindi and English language
- Option to have a 100% Sharia-compliant account
What I Didn’t Like
- Mobile copy trading only on Android
- Trading instruments: Over 300 trading instruments, including shares, commodities, and indices
- Trading conditions: Transparent trading conditions, 0% swaps, and no commissions
- Leverage ratio: Maximum leverage ratio of 1:500
- Customer support: 24/7 customer support in your language
- Trading app: Allows you to trade from any device
OctaFX is a legally established international company which has been serving millions of clients around the world for over 12 years. The broker possesses multiple internationally recognized licenses, including licenses issued by FSCA in South Africa, CySEC in Cyprus, and MISA in the Comoros.
OctaFX operates in India in association with India-based entity M/s OctaFx India Private Limited. However, according to the ED, the app and its website have not been authorized by the RBI to deal in forex trading.
