Octa fx withdrawal

The broker website is operated by the following companies: there is a 50% bonus with every deposit.

Top forex bonuses

OctaFX: Login, minimum deposit, withdrawal time, octa fx withdrawal.

RECOMMENDED FOREX BROKERS

Octatfx has a highly informative and accessible website that aims to promote their services in layman terms. And it achieves that, yet can it can it practice what it preaches?

The broker website is operated by the following companies:

Octa markets cyprus ltd is tightly regulated by the cyprus securities and exchange commission (cysec), carrying all necessary investigations in order to ensure fraud-free market operations. As regulated by cysec, OCTAFX is part of the ICF allowing for a compensation of up to €20 000 to be attributed to clients, if the broker fails or becomes insolvent.

Octa markets incorporated is regulated by the FSA SVG in st. Vincent and the grenadines. This body’s main duties are to ensure that financial institutions are well supervised and that all threats are acted upon with the appropriate force of action. Unlike cysec, this license issuer has no reimbursement scheme to speak of. Another significant drawback is that there is no regulation dedicated to foreign exchange (forex) trading and cryptocurrency, nor are there licenses issued for these two assets:

Spreads depend on the account the client has chosen. So for the MICRO account the EUR/USD spread is 1.1 pips, for the PRO it’s 0.8-1.1 pips, and for the ECN account it’s typically 0.7-0.8 pips. We would like to remind readers that in the UK and EU the current imposed maximum spread limit is 1:30. For those outside the jurisdiction of ESMA the spread reaches 1:500.

Currently, octatfx offers the following assets to trade with: forex pairs, cryptocurrencies, commodities, stocks. In the bustling, competitive world of forex today, this number of assets is considered low.

The broker is available in the following languages: english, spanish, arabic, indonesian, thai, vietnamese, chinese, german, malay, bengali, portuguese and hindi.

Octatfx offers three platform for trade: MT4, MT5 and ctrader. What’s interesting is that each platform acts also as a separate account.

METATRADER 4

Here we are again with this renowned platform, and for a reason! MT4 stands tall against other trading terminals. Consider using expert advisors to set your automated trading while you do other business, or take full advantage of what MT4 has to offer: multiple chart management, trading directly from the chart, customized trading indicators, huge selection of trading options and much more.

The MT4 acts as the MICRO account type. So, the spread for EUR/USD 1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches 1:500 for those outside these zones.

There are no commissions attached to this account.

MT4 is available on smartphones (iphone, android), on any browser and as a standalone desktop version.

METATRADER 5

MT5 strives to replace MT4 but fails to do so, not because it’s inferior but because most brokers nowadays use MT4 as the default terminal. Nevertheless, MT5 comes with new and handy features that traders will surely find useful. There are auto trading bots, plus VPS (same as MT4).

The MT5 acts as the PRO account type. So, the spread for EUR/USD 0.8-1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

The are no commissions attached to this account.

MT5 is available on smartphones, on any browser and as a standalone desktop version.

The functional ctrader has been included by octafx. This platform handles with ease and possesses a much better visual style than both MT4/5. The interface is highly customizable, giving end users a much needed aesthetic touch of their own. One of the main features of ctrader is the ability for traders to access provider’s liquidity making room for better pricing and lower spreads. There is also automated trading, and great back testing facilities.

Ctrader acts as the ECN account type. So, the spread for EUR/USD 0.7-0.8 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

Ctrader has a commission structure attached to it. For one standard lot a round turnof $6 will be feed. So this changes the EUR/USD spread from 0.7-0.8 pips to 1.3-1.4 pips.

Ctrader is available: for download as a standalone software for desktop, to mobile users, and can be accessed via a browser.

COPYTRADING

The broker offers for the opportunity to copy expert traders, automatically, without spending time on building a strategy or being constantly glued to a screen. This is a superb opportunity for those who do not have the time, or have little of it, to dedicate to online trading. To start, just browse through the many expert traders, set your preferences, invest and voila! Note that, even if the trader dealing for you gets a bonus if your investment turns to profit, this system does not guarantee 100% wins all of the time.

OCTAFX MINIMUM DEPOSIT

The minimum deposit is $50, immediately making room for smaller or casual traders. Typically, a higher minimum deposit limit has the ability to intimidate many novice traders.

The methods for depositing are: neteller, skrill and bitcoin. In this day and age of online currency and cfds trading these options are significantly low than bar. When considering the instruments in circulation by admiral markets and, especially, FX choice, the assortment that this here broker has seems laughable in comparison.

The base currencies are limited to only EUR and USD. The same comment as above can be applied here. A global broker should include more base currencies.

All methods of funding are instant. Here, however, octafx shines, as it falls in the niche of swift deposit methods, a niche that grows ever so tighter.

There are no fees attached. Fees commissioned by thirds parties will be covered by octafx.

OCTAFX WITHDRAWAL TIME AND FEES

Cysec regulation reassures that no harm will come to clients withdrawals.

The withdrawal methods are: neteller, skrill and bitcoin. Again, significantly fewer withdrawal methods that your standard broker.

Withdrawals are instant. This is a rare sight to see in an industry of long process times, and unexpected delays.

There are no fees attached to withdrawal. Fees commissioned by thirds parties will be covered by octafx. This makes us even more agitated at the fact that octafx has not included more payment options.

The minimum withdrawal amount is $5.

BONUSES AND PROMOTIONS

Bonuses are solely offered by octatfx’s offshore entity, due to cysec banning them in europe.

There is a 50% bonus with every deposit.

The most active and successful traders will have the opportunity to win smartphones/smartwatches, as well as a 3 luxury cars at the end of the year.

There is the opportunity to win $500 while trading with your DEMO account.

Trade suing a ctrader DEMO account, and finish with the highest profit at the end of the week to get $150.

BOTTOM LINE

First and foremost, octafx is regulated by one of the best institutes for the job in the world (cysec), as well as one of the shadier ones where many suspicious brokers get their licenses from- FSA SVG, making things rather ambiguous.

Second, there is a very limited number of payment methods, which in this day and age of online trading is unsatisfactory. However, there are no fees attached to said methods, and to top that the broker offers great and detailed trading platforms.

Octafx withdrawal tutorial for new traders

Octafx withdrawal is the process via which you can withdraw the profits you make trading with the broker. Trading forex and cfds can be very profitable. There have been cases where traders have increased their trading accounts by several digits. It all points to the possibilities that reside in forex and cfds trading and general financial trading as a whole.

However, we must point out the fact that forex trading is equally very risky. Just as you can increase your account several times, so also can you deplete it in no time. Many traders have lost the entirety of their capital in short periods. Therefore, when you make profits in the markets, you should be able to withdraw. The withdrawal process for every broker is not the same.

Here, we take you through specific information regarding withdrawing your profits with octafx.

Withdrawal methods with octafx

Octafx has an array of channels through which you can withdraw your profits from your trading account. This wide array of channels gives traders from different parts of the world access to multiple channels. Hence, the fact that some withdrawal channels are available in some countries and not in others will not be a barrier.

The methods through which you can withdraw your profits from your octafx trading account include the following:

Bank cards

One of the most recommended channels through which you can make withdrawals is debit or credit cards – especially those provided by the leading card processor, visa. Withdrawals via the bank card can be pretty quick – and they usually are credited to the bank account linked to your card.

However, we highly recommend that the card you choose must be the one you used when depositing into the account. This is to save you from a lot of complications that may arise from having multiple payment channels. We must note here that the bank card system with octafx is quite limiting. Only visa is available as the payment card on octafx and this is not good enough. Not all brokers have access to visa as a card. There are even equally popular options like mastercard.

Many other online brokers offer multiple payment channels.

Electronic or digital wallets

You can withdraw through popular E-wallets such as skrill, neteller, fasapay, amongst others.

Electronic wallets are quite fast. Within a day or so – or even in the space of a few hours – you get your withdrawal credited to your wallet. From there, you can now withdraw or convert it to cash. The number of digital wallets allowed by octafx is not really diverse enough. There can be more options that they can explore.

Bank transfer

You can also get the money withdrawn directly to your bank account. Many traders in many countries don’t have access to the bank cards and E-wallets that we discussed above. As such, they have to resort to the only option left – bank transfers. This bank transfer system, however, is very slow and can take several days on end before your money eventually gets to you.

In fact, we recommend that you don’t use this unless you have no choice.

Cryptocurrency

This is one of the best things you get from octafx. Many other forex brokers don’t offer you the option to withdraw your funds via crypto. Crypto withdrawals are quite fast. You get your money in minutes.

Octafx withdraw methods

(risk warning: your capital can be at risk)

Steps to withdrawing from your octafx account:

First, you have to login into your trading account. From there, you then select the account you want to withdraw money from on the main screen. Then press withdraw. You will see a full list of payment options available in your region. Pick the one that suits you best and press next.

Important note:

It is very important to note that the channel through which you choose to withdraw must be one that you used in depositing trading capital into the octafx live trading account. In addition, to make withdrawals from your octafx trading account, you must have undergone a verification process to certify that you are the owner of the account. The rules that apply to trading with octafx allow you to deposit into your trading account and make trades from that account without much rigorous verification process.

However, when it is time to withdraw, your profits will not be paid to you if you do not undergo the process and get verified. This is done primarily to protect you and your capital from any potential fraudulent activity.

Octafx verification process

To get verified with octafx you need to present some documents and take some steps. Octafx requires one document proving your identity: passport, national identity card, or any other government-issued photo ID. Your name, date of birth, signature, photograph, ID issue and expiry dates and the serial number must be clearly visible. The ID must not have expired. The entire document must be photographed. Fragmented, edited, or folded documents will not be accepted.

If the issuer country differs from the country of your stay, you’ll also need to provide your residence permit or any local government-issued ID. The documents can be submitted within your personal area – that is, in your dashboard – or to support@octafx.Com.

Proof of address: octafx will also like to know if you actually reside where you claim to reside at. As a show of proof of address, you can use the signed and stamped account statement from your bank.

How long do your withdrawals take

When you request to withdraw your profits from your account, you should have an idea as to when the money will get credited to your withdrawal channel. With octafx, most withdrawals will be completed within 24 working hours. However, things can be faster; that is, you can get your money earlier than 1 business day. The tips listed below should help:

By far, the best way to get faster withdrawals anytime you request is to get the pro account. Octafx offers multiple account types that you can sign up for namely, the micro account, the ECN account, and the pro account.

The pro account offers the most perks. One key perk is that they will be given priority withdrawal. Their withdrawal request can get processed in just a few hours.

However, to enjoy all these benefits, you have to commit at least $500 as your minimum deposit amount for the pro account.

Another tip is making use of an e-wallet like skrill or neteller to make deposits and then withdrawals to your octafx account. These e-wallets work directly with octafx to provide faster transactions. Making your withdrawals via your visa card can also be very fast, although they are not as fast as the E-wallets.

Does octafx charge for withdrawals?

Octafx does not charge any amount for your withdrawals. However, the withdrawal channel (say visa or neteller/skrill/fasapay) may decide to charge some amount for rendering its services to you.

Can bonuses be withdrawn?

Whenever you make deposits into your octafx live account, you are given certain deposit bonuses; these bonuses are meant to give you extra power to make trades. You can withdraw the bonus if you made the requested turnover amount (trading volume).

What are the octafx minimum and maximum withdrawal amount?

Anytime you want to withdraw your profits from octafx, the minimum you can do at a certain time is $20. On the other hand, there is, however, no maximum.

How long does it take to withdraw money from octafx?

Withdrawals are usually processed within 24 hours. The profit can be withdrawn usually by using the same method that was used for depositing.

Conclusion on the octafx withdrawal

As a forex and cfds trader, you have to learn about the different processes on their forex and cfds journey. From how to trade to how to set your account, and more. Thus, you need some guidance. The above is one of those guides on octafx withdrawals.

(risk warning: your capital can be at risk)

How to withdraw money from your trading account or wallet

Important: by the law, you can only withdraw money after verifying your profile—this is required by law.

Further actions depend on whether you want to withdraw money from your wallet or your trading account.

From your wallet

View the main menu by pressing the icon in the top-right corner of the screen. Then press withdraw under your wallet balance.

From your trading account

Select the account you want to withdraw money from on the main screen. Then press withdraw.

You will see a full list of payment options available in your region. Pick the one that suits you best and press next.

We usually process withdrawal requests for 1–3 hours, but it’s up to your payment system how long it will take the money to reach the destination.

Skrill, perfect money, neteller—from 5 USD (5 EUR), without the maximum limit

Bitcoin—from 0.00096 BTC, without the maximum limit

Mastercard—from 50 USD (50 EUR) or the equivalent in other currency

Visa—from 20 USD (20 EUR) or the equivalent in other currency

Banks may apply their own limits

Then enter the details required for the selected payment method and press request. Make sure you specify correct currency.

On the last step, you can double check that you’ve entered all details correctly. Check them thoroughly and confirm that everything is okay by pressing submit again.

That done, wait for a notice from us—we’ll let you know that the money is sent to you via email and in a notification in your personal area.

[help] octafx rejected my withdraw with no sense reason.

Dokterfx

Private

I had problems with my withdrawal benefit in this case octaforex already 2 weeks, but did not find a good solution. I was not making a mistake, but octafx hold my profit and only returns my initial capital,they say it for security reasons. I withdraw the same account when I deposite, but why do I even asked to send a hard copy with legalized notary, whereas I alone account verification.

I include some of the following evidence

For the red bold is my initial deposite.

The following is my initial conduct withdraw request

Then.

Translate:
arief purwanto - respectable,
unfortunately, your withdrawal request with no. W210577 has been rejected for the following reasons:
accounts under investigation
your account in the investigation and therefore all financial transactions are prohibited. Please do not send another request until further notice. Otherwise you are free to contact us anytime.

E-mail from octafx

translate:

Barbara (octafx)
apr 30, 13:07
dear customer,
we received information that your account has been POSSIBILITY engaged in fraudulent activity or accessed by third parties who intend to do so. We have good reason that the documents were given to your account as well as the existing identity of the owner of the account does not belong to the truth.
It is not a statement but rather an assumption that require investigation in accordance with the terms and policies of our security department. You do not need to worry, this is a routine examinations aimed at the safety of your funds and the transparency of transactions.
This is done so that you know that in accordance with article 13.9 and article 13:12 of the customer agreement, namely:
13.9. To provide financial security to the client, in some cases, the company reserves the right to withdraw the client funds to a bank account only the client itself;
13:12. For security reasons after the withdrawal of funds, the company has the right to demand or ask for complete data such as client identification, copy of ID, copy of proof of address, bank reference letter and other relevant documents, signed, stamped and notarized.
Request your withdrawal from account X Y worth USD will be done using the facilities of bank wire. To complete the process of withdrawal of your funds, please follow the steps below:
fund your deposit will be refunded and if you want to attract / withdraw funds, please send the document to our head office.
Ask that you prepare the following documents:
a. Copy of ID / copy of passport (all pages should contain a complete record or data)
b. All proof of address, must clearly prove your residential address.
EVERYTHING MUST BE TRANSLATED INTO ENGLISH notarized (OR CERTIFICATION WITH STAMP) BY THE RESPONSIBLE GOVERNMENT AGENT (in this case, the institution sworn translation).
Please send all the documents (whole, through the post office) to our head office address: cedar hill crest, PO box 1825, villa, kingstown, st. Vincent and the grenadines.
After we receive all the documents, your case will be investigated and verified, wire transfers will be sent to your bank account.
We are sorry for the inconvenience.
Sincerely,
barbara

Hopefully friends forex peace army, would help me in my efforts to complete the withdrawal process, if need more information I will try swatch,

Thanks hopefully willing to help me
greetings of peace

Octafx reviews and comments 2021

I am deposit in my copy trading wallet 1829/-rs (25.5 USD) via money transfer from IDFC bank to octafx account it was successful sent but in octafx it was got rejected bcoz of not mentioned octafx in beneficiary name I mentioned some other name it was given in octafx. Now where was my amount 25.6 USD how to get that back.

Shaul hameed mohaideen 17 january, 2021 reply

Dear shaul hameed mohaideen,

Thank you for reaching out and sharing your experience with us. We deeply regret that you had trouble depositing your funds. Unfortunately, we couldn't identify you on our system and look into what happened since you didn't provide your trading account number. Please send it to us directly over the live chat on our official website, and we'll be happy to investigate the issue.

Please don't forget that our team is always here to help, and we're looking forward to hearing from you soon.

Kind regards,
octafx rep.

Octafx 22 january, 2021

I just tried to withdraw my money, it's still in pendimg list from 1 day. They said money is sent & bank is not responding. Today they say, they themselves didn't sent the money and have some problem with them. Please send my money today.

Pratyush baral 13 january, 2021 reply

Thank you for reaching out and sharing your feelings with us. We deeply regret that your deposit request took longer than you expected. After looking into your review, we've found that it was processed on january 13, 13:15 server time GMT+2, shortly after this review was published. Consequently, we hope that the issue was completely resolved, but if you have any questions, please contact us anytime.

Please note that at octafx, withdrawal requests are processed within a couple of hours. In some cases, when our financial department handles a high number of requests, we ask you to allow us extra time to process your request. The holiday season is usually the busiest time of the year, and in light of what we just referred to, we'd like to ask for your understanding, as this may cause slight delays and holdups. Nevertheless, please rest assured that our team is doing its best to ensure that the processing time doesn't exceed 24 hours.

We also want to encourage you to contact us directly if your payment request is taking longer. Our team is always here to help, and they will be happy to keep you updated on your request's status. So, please don't hesitate to send us a message.

We'll be happy to hear from you anytime soon.

Kind regards,
octafx rep.

Octafx 19 january, 2021

If I deposit with my local bank, so can I take withdrawal from the same octofx account. Can withdrawal transfer to my skrill account?

Meet 9 january, 2021 reply

Thank you for taking the time to contact us and bring this question to our attention.

Please note that at octafx, your deposit and withdrawal payment methods must match. That said, if you deposit through your local bank, it also should be your withdrawal option. It's an important requirement that follows our customer agreement and AML provisions to provide our clients funds' financial security. Different payment options could be considered in exceptional cases, but regularly, you won't be able to deposit via your local bank and withdraw to your skrill account.

We hope this fully answers your question. However, if you still have any other feedback, we'll be happy to hear from you directly and assist you with it.

Kind regards,
octafx rep.

Octafx 19 january, 2021

I transferred $10 just for a start but I later discovered the minimum is $50 and I've been demanding for a refund but all to no avail. I've sent my bank statement, receipt but no help coming forth. They keep on saying their financial team can't find it. It's bad. First time first discouragement and disappointment.

John 7 january, 2021 reply

Thank you for letting us know about your experience. We're sorry to hear that you had trouble depositing your funds. Unfortunately, you didn't provide your trading account number, and we couldn't identify you on our system. If you could contact us directly and share your octafx account details, we'll be happy to look into what happened and investigate the matter with our finance department.

Please note that all deposit requests that weren't processed are sent back automatically as refunds. However, if your deposit did not reach your account for whatever reason, we always suggest contacting our team immediately to look up the payment. We also want to point out that you can always find the minimum deposit amount in your personal area when you're creating a deposit request. We strongly encourage you to follow these requirements as it could be crucial in cases like yours and help prevent them from happening.

We're looking forward to hearing from you soon. And we hope that it won't take much time to receive your funds back.

Kind regards,
octafx rep.

Octafx 19 january, 2021

I transferred 10000 naira to octafx, not knowing that the minimum amount is 15000 naira. And I was debit 10000 naria from my acc. Pls I need my money back.

Joshua 4 january, 2021 reply

Thank you for taking the time to reach out and share your experience with us. We regret to read that you had trouble depositing your funds. Unfortunately, we couldn't look into your inquiry since you didn't provide your trading account number in your review. Please contact us directly to provide this information, and our team will be more than happy to look into the matter and investigate what happened.

Please note that since the minimum deposit amount for nigerian deposit options has been increased only recently, we made an exception to allow the first incoming payments with the old, lower required amount. For this, you need to submit a new deposit request. In this case, you need to create a deposit request in your personal area for 15 000 NGN and submit your payment proof. However, you should be aware that your next payment containing anything less than the minimum amount will be automatically refunded.

We're looking forward to hearing from you soon, so please don't hesitate to send us a message.

Kind regards,
octafx rep.

Octafx 19 january, 2021

I made a deposit to this trading account 17076833. It was rejected on the grounds of unverified account, please how do I get my money back?

Uloma enyinnaya 3 december, 2020 reply

We regret to see that you hadn't contacted our support team before you left your review, as they would have helped you resolve your issue quicker. That said, after looking into it, we found that it has been resolved shortly after. And, if there's anything else we can do for you please, don't hesitate to get in touch with us.

Please note that at octafx, you have to verify your account to enjoy certain payment methods and withdraw your funds, as verification helps us secure and protect our traders.

If, for whatever reason, a payment was declined, a trader shouldn't be discouraged. We will still be able to locate a payment after they complete the verification. Consequently, the same happened in your case. In any case, if a trader doesn't want to proceed with the verification, they can always send us details for a refund, and our financial department will process it for them.

We're always happy to help, so please, do not hesitate to contact us whenever you need our assistance.

Kind regards,
octafx rep.

Octafx 10 december, 2020

When I deposited 100$, it deducted from my bank account but not credited in octafx trading account. Then, I contact via live chat and they told me that payment gateway decline this transaction so just give me pdf bank statement and your 100$ will be refunded (bounce back) to your bank account. It require minimum 3-5 days to maximum 14 days to complete this process. 4 days gone but nothing happen. Still waiting. My ac id: 12255380

Mitul patel 30 november, 2020 reply

We're sorry to read that something went wrong when you were trying to deposit, and your payment was declined. After looking into your review, we can see that your deposit couldn't go through the payment gateway and was automatically bounced back as a refund. Typically it takes up to 14 business days for the payment processor to refund a payment. However, please allow extra time as these timeframes are applied to simple refunds, and in some cases, it could take longer to process it.

We want to take a chance and apologize for all the trouble that it may have caused you. Our financial department is carefully investigating this issue, and our team will inform you as soon as they hear back from the payment processing company. Unfortunately, declines occur for many reasons, and it takes time to look into the matter and issue funds back to your account. We understand that the process may be frustrating, but we sincerely hope it won't take much longer to receive your funds.

Please remember that our team will always be happy to keep you updated, so please contact us whenever you have any questions.

Kind regards,
octafx rep.

Octafx 4 december, 2020

I have deposit first 108$ around 2 months ago and it successfully credited to my account instantly. Then again i deposited of 60$ this week and it takes 2 to 3 hrs to credit in my account. But, today when i deposit of 100$ via same method of netbanking, still money not credited in my trading account and after I contact them then they told me that" unfortunately, your transaction is failed (payment gateway error) so kindly wait for 24hrs. If deposited amount not credited in your trading account within 24hrs or not refund your bank account then contact our financial department and submit your bank statement, your problem will be solved." I also contact my bank manager and he told me that transaction of 100$ is successfully happened today. So I am just waiting of my money either credited to my trading account or refund to my bank account in their 24 hrs. Further update I will post here tomorrow about this issue.

Mitul patel 26 november, 2020 reply

I've deposited friday $200 into my account. Monday morning I've reviewed the spreads between 5 other brokers I'm using. Low and behold. Octa spreads is almost double that what the other brokers is. So monday I've decided to withdraw my $200 to put into one of my other accounts. They've actually refused to give my money back because I have not traded with the $200. What a joke this is. People actually warned me about you guys. Did I listen. No, that's why I'm sitting here typing this review. Bad. Will never reccomend anyone to make use of them. Just because I did not trade does not mean you can keep MY money.

Karin marie hugo 23 november, 2020 reply

Thank you for reaching out and sharing your feelings with us. We're extremely sorry you had trouble withdrawing your funds. Looking into your previous inquiries, we can see that your withdrawal was on the same day you left your review. We hope that you didn't experience any other issues since, but please get in touch with us if needed.

Please note that when traders don't perform any trading and request a withdrawal, our financial department may request information purely for security reasons. That is why you were asked to provide such, and your withdrawal was processed the same day our team received the said information. We apologise for any troubles this scrutiny may have caused you. The requirement is an important part of our compliance with the AML policy.

In regards to the spreads, please note that brokers have a different pool of liquidity providers. That is why you may come across a slight difference in spreads between different brokerages. It's absolutely normal, and you should take many factors into account, such as commissions, for example, or whether the spreads displayed reflect those on the trading platforms. As regrettably, it is a common practice for some brokers to display lower spreads than those visible on their trading platforms. At octafx, we display all spread in real-time. Not to mention that as a part of our efforts to fight the current COVID-19 pandemic, we've decided to lower our spreads up to 14 points. And we want to keep them this low for as long as we can despite the market volatility. Consequently, our spreads are one of the most competitive on the market right now.

We truly hope that this incident will not affect your future enjoyment of our services and that after receiving our explanation of your concerns you'll remain a part of our traders' community.

Please send us a message anytime, should you have any questions. We'll be happy to hear from you.

Kind regards,
octafx rep.

Octafx 4 december, 2020

I deposited withdral fee and i want refund for that, they are saying i can't get it, i need my money back because i ddn't withdraw the profit

Octafx review and tutorial 2021

Go to the brokers list for alternatives

Octafx offers multi-asset trading on a range of platforms and mobile solutions.

Octafx offers leveraged trading on currencies.

Trade popular digital currencies at octafx.

Octafx is a forex, CFD and copy trading broker offering the MT4, MT5 and ctrader platforms. In this broker review, we’ll login to the personal area and uncover the key features, including leverage, demo accounts, regulation and more. Read on to find out if octafx is a good forex broker or not.

Octafx details

Octafx was established in 2011. The company’s headquarters are located in saint vincent and the grenadines, with an additional support office in jakarta, indonesia. The broker’s EU entity, octa markets cyprus ltd, is located in limassol, cyprus, and is regulated by the cysec.

With over 1.5 million trading accounts and a long list of forex industry awards, the founder and owner has ensured the company has amassed a global reach.

Trading platforms

Metatrader 4

The MT4 platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility.

The platform allows you to develop your own expert advisors and technical indicators to suit your trading style. In addition to the 30 in-built technical indicators, advanced charting tools allow you to analyse price fluctuations and trends in the market, using 3 customisable chart and graph types.

Note that MT4 is currently only available for non-EU clients.

Octafx metatrader 4

Metatrader 5

MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy and more advanced features.

Users enjoy 8 types of pending orders, 44 analytical objects including gann and fibonacci retracement, plus additional technical indicators which are unique to MT5, such as trend oscillators and bill williams’ tools. There’s also an economic calendar as well as two major accounting modes for greater flexibility: hedging and netting.

Both platforms come in several languages, including english, arabic and hindi, and are compatible with windows pcs. Octafx provides a useful download guide on the website.

Octafx metatrader 5

Metatrader webtrader

For those using mac pcs, octafx also offers the web terminal version of MT4 and MT5, meaning traders can access the markets straight from an internet browser.

The web platforms are highly functional and customisable, boasting the same features found in the desktop versions, including charting tools, market indicators, scripts and expert advisors, plus access to diverse order types and execution modes.

Ctrader

The ctrader platform is a robust system designed for forex and CFD trading. The platform includes over 26 in-built chart views and up to 50 chart templates on a fully customisable interface. The platform boasts an impressive suite of 70 technical indicators and 28 chart timeframes, plus advanced level scalping and visual back-testing using cbot. With full market depth, traders can also execute advanced online trading strategies as well as programmable algorithms.

The ctrader platform is ready to download from the website once you have completed the registration process. The ctrader web terminal is also available for macos users.

Octafx ctrader

Markets

Octafx offers some of the most popular products, including:

Forex – 28 currency pairs including EUR/USD and USD/JPY

Indices – 10 CFD indices available such as US30 and NASDAQ

Commodities – including spot gold and silver contracts, plus brent and crude oil

Cryptocurrencies – 3 major digital currencies available; bitcoin, ethereum and litecoin

Trading fees

Typical variable spreads for EUR/USD are around 0.7 pips in both the metatrader and ctrader platforms. Gold spreads (XAUUSD) start from around 2 pips and major indices such as NAS100 are around 3.5 points. Bitcoin spreads (BTCUSD) are around 3.1 pips. Fixed spreads are also available for MT4 USD accounts.

Trading commissions are only charged in the ctrader account, at 0.03 USD per 0.01 lots. There are also rollover rates applied on positions held over 3 days. Details of these fees are listed in the product specifications.

Leverage

Octafx offers generous leverage limits up to 1:500 for currencies in the MT4 and ctrader accounts. Leverage in the MT5 account is available up to 1:200 on currencies. Metals can be leveraged up to 1:200, indices and energies up to 1:50, and cryptocurrencies up to 1:2.

Note that EU clients can only trade with leverage up to 1:30.

Mobile apps

Octafx delivers mobile app versions of the MT4, MT5 and ctrader platforms, available for iphone and android devices. The apps offer many of the essential features found in the desktop applications, including a complete set of orders in metatrader and full balance, margin and P&L information in ctrader. All trading apps come with a customisable mobile interface with clean and accurate trading functions, as well as custom mobile price alerts.

Octafx MT4 mobile app

Octafx (non-EU) also offers a downloadable proprietary copy trading mobile app, currently available only on android (APK) devices. The app allows you to manage and keep track of trading accounts whilst on the go. Users can also activate bonuses, access trader tools and deposit into their accounts. The app download process is quick and can be accessed from the google play store.

Octafx mobile app

Payment methods

Octafx offers a few fast funding methods which vary depending on your origin country, including bank cards, perfect money and bitcoin. Local bank transfers are also available for traders from certain countries, including thailand, india and nigeria.

The minimum withdrawal and deposit amounts are 5 USD for perfect money, 0.00096000 for bitcoin and 50 EUR for cards. All deposits methods are generally processed instantly or within a few minutes.

There are no commissions charged on deposits, withdrawals or currency exchange rates, except for 0.5% on perfect money deposits. The withdrawal time for all methods is 1 to 3 hours to approve and up to 30 minutes to transfer the funds. There is no withdrawal limit on earnings.

Demo account review

Octafx traders can open a demo account which provides the same trading experience as a live account but without risking any real investment. Each demo account is loaded with unlimited demo dollars and opportunities to participate in the broker’s demo contest to be one of the next champions. You can sign up for a free demo account in just a few minutes.

Octafx (non-EU) offers several deposit bonus deals, including a 50% bonus and a 100% bonus during special offer periods. In addition, there’s the trade & win promotion where traders can win gifts such as octafx t-shirts or gadgets. There are also contest opportunities, including the octafx 16 cars contest where traders are entered into a car prize draw every 3 months, as well as the champion demo contest 2020 for MT4 users.

Make sure to check all bonus terms and conditions before participating.

Regulation review

Octa markets cyprus ltd is authorised and regulated by the cyprus securities and exchange commission (cysec), under license number 372/18. EU member state residents are therefore protected by strict regulatory standards, including segregated client accounts and protection by the investor compensation fund.

The non-EU entity also claims to provide segregated client accounts to protect trader funds, as well as negative balance protection which ensures that trader account balances never fall below zero.

Additional features

Traders benefit from a range of additional education features and trading tools at octafx, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the autochartist plugin and live quotes.

Octafx also offers a copy trading service, which is available on the desktop terminal and through the android mobile app. The copy trading services allows clients to automatically copy leading traders based on the equity and leverage of both the master trader and the copier’s accounts.

Octafx economic calendar

Account types

There are 3 account types available at octafx, which are determined by the trading platform you are using: micro (MT4), pro (MT5) and ECN (ctrader). Accounts are available in USD or EUR. The minimum trade volume across all accounts is 0.01 lots and there is no maximum.

The main differences between the accounts is the assets available to trade, the spreads and the minimum deposit amounts. The micro and ECN minimum deposit is 100 USD. The minimum deposit in the pro account is 500 USD. Commissions are also charged in the ECN account.

Account opening is easy and requires the submission of ID documents in line with KYC requirements. In most cases, if your documents are submitted clearly, verification should only take up to 3 hours.

There is also an islamic swap-free account for those worried about whether trading is haram or halal. Note clients from the united states are not accepted at octafx or octa markets cyprus ltd.

Benefits

Traders enjoy several benefits when trading with octafx vs the likes of FBS, IQ option and exness:

Metatrader and ctrader platforms

Bonuses and contests (non-EU)

Commission-free trading

EU regulation

Drawbacks

Compared to other brokers such as hotforex, XTB and olymptrade, octafx does fall short in some areas:

Not FCA regulated

Limited funding methods

Zero pip spreads unavailable

No copy trading on ios devices

Trading hours

Trading times in the MT4 and MT5 platforms are 24/5, from 00:00 on monday to 23:59 on friday server time (EET/EST). The ctrader server time zone is UTC +0, though you can set other time zones, such as GMT, for charts and trading information.

Customer support

For telephone support, non-EU clients can contact the helpline, +44 20 3322 1059, between 00:00 and 24:00, monday to friday (EET). For EU clients, the number to call is +357 25 251 973 between 09:00 and 18:00, monday to friday (EET).

There is also an email form, however, the fastest way to get in touch is via the 24/7 live chat service, which you can access by clicking on the chat logo at the bottom of the website. The support team are helpful if you need to know your withdrawal pin, any platform problems, VPS questions, or you want to delete an account.

In addition, you can find updates on the broker’s social media pages, as well as the octafx youtube channel.

The broker’s head office addresses are:

Octafx, suite 305, griffith corporate centre, beachmont, kingstown, st vincent and the grenadines

Octa markets cyprus ltd, 1 agias zonis and thessalonikis corner, nicolau pentadromos center, block: B’, office: 201, 3026, limassol, cyprus

The broker’s website is available in a number of languages for clients from indonesia, malaysia, pakistan and india.

Security

Octafx uses 128-bit SSL encryption and PIN codes in the personal area and trading platforms, which is the industry-standard security requirement for protecting personal data. The broker also applies 3D secure visa authorisation when processing credit and debit card transactions.

Octafx verdict

Octafx offers a promising trading service for novices and experienced traders, with a choice of metatrader or ctrader platforms as well as the copytrading app. The broker offers fee-free deposits and withdrawals, plus islamic accounts and a demo solution. The ECN spreads are also decent, though not as competitive as the zero spread accounts offered at other brokers like XM, for example.

Accepted countries

Octafx accepts traders from australia, thailand, canada, united kingdom, south africa, singapore, hong kong, india, france, germany, norway, sweden, italy, denmark, united arab emirates, saudi arabia, kuwait, luxembourg, qatar and most other countries.

Traders can not use octafx from united states.

Is octafx a legit company and regulated broker?

Octafx is a legit company registered in saint vincent and the grenadines. The EU entity is registered in limassol, cyprus and regulated by cysec. If you’re unsure whether a broker is a scam or legit company, you can always check out customer reviews online.

Is octafx a market maker?

No, octafx is a no dealing desk (NDD) broker and therefore acts as an intermediary between the trader and the real market. Octafx receives commissions from its liquidity providers for each transaction.

How do I delete my octafx account?

To delete your account, you will need to get in touch with the customer support team. Note accounts are automatically deactivated if you never deposit or sign in to them.

How do I open a copytrading account at octafx?

You can sign up and login to the copytrading account in a few easy steps. Once you login to your personal area, you can set up your copytrading profile and make a deposit to your wallet. You can also sign in to your new account using the android app.

Why was my octafx withdrawal rejected?

If you encounter a withdrawal problem, you will receive a notification in your email explaining the issue. Alternatively, if you need to cancel a withdrawal, you can do this within your personal area.

Does octafx offer any free bonus deals?

At the time of writing, octafx is not offering any free bonus deals, no deposit bonus deals or promo codes. There are other promotions available for non-EU clients. Make sure to check the bonus conditions before participating.

Is octafx legal in india and pakistan?

Yes, you can legally open an octafx account from 100 countries, including india, pakistan, singapore, ghana and the UAE.

A comparison of octafx, etoro & ATFX withdrawal fees

When looking for an online broker, it’s vital to compare a few different companies, to make sure your new broker meets all your needs, at a price you can afford. As an investor, you’ll have your own priorities, based on what’s important to you, but fees and charges are definitely something to consider.

Some brokers will have a few hidden fees that aren’t immediately obvious, which can include withdrawal fees. Many brokers allow you to withdraw your funds for free, but this is not always the case, so it’s worth double-checking. You’ll also want to look at the methods of withdrawal available, and the time it takes to process each withdrawal.

Today we’re looking at three popular online brokers: octafx, etoro and ATFX. We’ll examine their withdrawal fees, and the other conditions attached to withdrawing funds from your account.

Withdrawal fees

Octafx offers free withdrawal of your funds, and the firm also states that they will usually cover any withdrawal fees applied by third parties, such as skrill and neteller, although they cannot guarantee that there will never be any third party fees applied to your withdrawals.

Etoro charges a flat fee of $5 for every withdrawal, with a minimum withdrawal amount of $30. It is possible that third party payment systems may also apply a fee, so check on this before choosing a payment method.

ATFX offers free withdrawals. Once again, it’s possible that third party payment systems will apply a fee.

Withdrawal methods

Octafx offers a range of withdrawal methods, which will partly depend on the region you are resident in. They allow withdrawals via bank transfer, visa, skrill and neteller.

Etoro offers withdrawals via bank transfer, visa, skrill, paypal, webmoney, china union pay and neteller. Methods available may vary by region.

ATFX offers withdrawals via bank transfer, various credit and debit cards, or via e-wallet. All payment methods should be available in all regions where the broker operates.

Processing time for withdrawals

Octafx states that it takes around 1-3 hours to approve a withdrawal, and then a little longer for the funds to be transferred. The time the transfer takes will depend on the withdrawal method being used. It can be almost instant with some payment methods, but bank and credit card transfers take longer.

Etoro takes one business day to process withdrawals and the transfer time depends on the payment method chosen. It can be as little as 1-2 working days with most payment methods, but both bank transfers and visa payments can take up to 8 working days.

ATFX processes withdrawals within one working day, and the transfer time depends on the payment method chosen. All requests received before 2pm on a business day are processed that day.

Don’t forget:

By law all accounts must be verified before making a withdrawal, and withdrawals are, of course, only processed during normal working hours.

We hope you’ve found our comparison of withdrawal fees helpful in your quest to find the best online broker for you.

Our recommended mobile trading app:

Call them out!

Fraud brokers . Have you been scammed? Had bad service, struggled to get your money back or some other action which you believe is non compliant? Tell us and if we have the right information, we will actively support your case through mediation with the broker.

Your next move…

Find your broker trading carries risk. There is no getting away from that. Making the right choice of broker and platform will help you trade better and combined with experience, tools, research and a helping of luck your trading adventure could take you places you only ever dreamed of.

Find A broker

Broker comparison

Find A broker

Broker vs broker

Best brokers 2021

Choosing a forex broker

Octafx vs etoro

Octafx vs alvexo

FXTM vs etoro

FXTM vs cityindex

FXTM vs plus500

FXTM broker review

Plus500 broker review

Etoro (non USA)

Etoro USA broker review

Octafx broker review

Comparison of broker features & pricing

Octafx vs plus500

IG.Com vs octafx

Avatrade vs cityindex

IG.Com vs etoro

Special reports & tools

Nothing on this site constitutes advice or a recommendation – you use the site and its contents at your own risk. Trade wisely. Spread bets and cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading cfds.

Octafx minimum deposit

The octafx minimum deposit amount that octafx requires is US dollar 100.

The minimum deposit amount of US dollar 100 when registering a live account is equivalent to ZAR1,766.87 at the current exchange rate between US dollar and south african rand on the day and at the time that this article was written.

Octafx is based in SVG and cyprus and is authorized and regulated by demanding regulating entities namely cysec and FSA, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as octafx are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

Deposit fees and deposit methods

Octafx does not charge any fees when deposits are made into the trader’s account.

Traders can make use of the following payment methods through which the minimum deposit amount can be paid:

Credit/debit card

Bank wire transfer

Bitcoin

Skrill, and

Neteller

Octafx only supports two deposit currencies in which traders can fund their accounts including:

USD, and

Traders should take note that payments made in any other currency apart from the base currencies of the various accounts may be subjected to conversion rates charged by their payment provider. The base currencies are USD and EUR.

Step by step guide to deposit the minimum amount

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

Log into the client portal and select ‘deposit’

Select the deposit method along with the amount.

After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

Traders should take note that with making deposits by using bank wire transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank wire transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

Pros and cons

PROS	CONS
1. Deposit fees and withdrawal fees are not charged	1. Only a few payment options provided
2. Quick and easy depositing of funds	2. Only two supported deposit currencies

What is the minimum deposit for octafx?

How do I make a deposit and withdrawal with octafx?

You can make use of the following payment methods to deposit or withdraw funds:

Credit/debit card

Bank wire transfer

Bitcoin

Skrill, and

Neteller

[help] octafx rejected my withdraw with no sense reason.

Dokterfx

Private

I include some of the following evidence

For the red bold is my initial deposite.

The following is my initial conduct withdraw request

Then.

E-mail from octafx

translate:

Hopefully friends forex peace army, would help me in my efforts to complete the withdrawal process, if need more information I will try swatch,

Thanks hopefully willing to help me
greetings of peace

Octafx:refusing US$100,000 withdrawal! OCTAFX delayed withdrawal

Although otcafx is regulated by CYSEC! However, wikifx has been received two complaints of this broker so far, and in view of the large amount of fraud, wikifx decided to re-evaluate the broker and will question whether the CYSEC regulatory brokers to which the broker belongs actually regulates the forex platform under their supervision.

According to the narration of an investor, it was surprised that regulated forex broker could use such disgusting methods to defraud investors. The astonishing number is chilling!

In september last year, an investor who has been trading forex for three years told wikifx his experience of being defrauded by otcafx . He deposited 40,000 USD at otcafx, and the total money in his account reached 210,000 USD within 3 weeks of trading, with 100,000 USD profit. Then, he submitted a withdrawal application at otcafx and was informed by otcafx official email that the withdrawal would be confirmed within 3 hrs to 1 day.

But the result is not like what the investor expected.

After one week, the investor did not receive any refund in his bank account.

The investor reported the issue to otcafx account manager，then he got feedback from otcafx financial department that his funds can be withdrawn in his bank. Therefore, the investor sent a deposit request to his bank immediately. A month has passed, but the investor still can not receive any refund in his bank account. When the investor asked the otcafx again, he was told that because of the huge amount of money withdrawn, it could only be transferred to the trading account.

How did it end up like this？ during this process, the investor asked otcafx that the funds need to be refunded to his bank account, not to his trading account, because his negative trading account at that moment could not be deposited anymore. The fact is that they transferred the money to his trading account, causing his loss.

How did it end up like this？

In fact, it is obvious that the otcafx wants to embezzle this huge amount of money but gives a reason quite ridiculously. In addition, besides this case, wikiFXreceived the same complaintfrom a chinese victim in november lastyear. She reported otcafxrefused her withdrawalas well.

Per checking wikifx app,octafxhas a poor rating of 1.87, and the broker bearing great risks. The broker is currently active on large social network such as telegram and facebook, please stay away!

Please download wikifx APP from below links or scan code ：

Want to know more about forex security？ add wikifx.NG official social media to keep up with the trend!!

Want to know more about foreign exchange security？

If you have any questions, please feel free to contact us at wikifx@wikifx.Com

The following is the process of how to use the app:

You can download the app on google play or apple store for free.

2. Register to be a wikifx member

Enter your phone number and verification code.

3. Select language and your area

4. Find “exposure” section on homepage

5. Edit post and release

Click the edit icon and choose either type of reason you wanna expose. Then, select the broker you wanna expose, edit your scammed experience and release it.

The brokers involved in the article

Octafx

Scam brokers | 2-5 years | suspicious regulatory license | MT4/5 full license

so, let's see, what we have: octafx: login, minimum deposit, withdrawal time? RECOMMENDED FOREX BROKERS octatfx has a highly informative and accessible website that aims to promote their services in layman terms. And at octa fx withdrawal