Having any money you deposit with OctaFX means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if OctaFX goes out of business for some reason. When choosing a broker like OctaFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. OctaFX supports the standard payment methods of Forex, as well as a popular e-wallet.
We can also see that the second payment was successfully refunded, but the details for the first you sent were incorrect. Our team has sent you another follow-up letter now asking you to provide refund details. We hope you received it and will get back to them as soon as possible. I have a Account Octafx I deposited my money 1500INR to My Trading account due to some Octafx Internal name issue my money is not credited to my Octafx account. I am waiting for last two day till now my money is not refunded my bank account kindly refund my money. OctaFx will deposit your money within few minutes but they will not withdraw your money. Thank you for choosing us as your broker and taking the time to share your feedback with us.
A webform is equally accessible, and traders may alternatively call. OctaFX ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.
King of the Road Real Contest gives away presents to the best traders. As gifts may be used iPads, iPhones, computers and a Porsche https://traderevolution.net/ Panamera car. The first 4 traders will be able to get a real prize from the fund of $1000 ($500, $300, $100 and $100).
Recommended Forex Brokers
Yes, OctaFX is an excellent broker for Forex traders based in India, as they have SEBI regulation. Customer support is available 24/7 and is best reached via live chat or Telegram.
Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Be aware leverage can amplify your losses or profits, be very careful to select the leverage that fits your trading appetite and risk tolerance.
We couldn’t be more than happy to read that you enjoy using our services and wish to continue trading with us. It’s also the best encouragement for our team to keep up the good work and a reminder that we’re doing things right. We’re sorry to read you’re experiencing holdups while requesting withdrawals.
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. 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.
Metatrader 5 Pro Account
This is so weird and when I spoke to my account manager he gave fake promises of being working on the resolution. We cannot merely block the possibility of conducting further transactions because in cases where funds do belong to a third party, we have to ensure that they’re refunded to the originating account. Therefore, it’s the trading activity that must be restricted to ensure that such money is not used for trading. Thank you for your patience while we consulted your case with our team. After looking into the matters you brought to our attention, we can see that the cards you used to fund your trading account for the first and second time were different.
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. I used my Visa card to deposit money however trying to withdraw funds using the same method and octafx declines the request everytime. Octafx is unable to give me a reason as to why my funds cannot be returned using the same method that they were deposited.
- While trading in financial investments, losing money rapidly due to trading Forex is not uncommon.
- OctaFX also clearly state on their platform that Losses can exceed deposits.
- Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible.
- CySEC is among the foremost financial regulators in the world and all brokerages licensed by it have to follow strict rules and are subjected to intensive regulatory oversight.
- Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility.
- This removes any unwanted risk in trading and guarantees that the client’s funds are safe and their interests protected by the respective laws.
If you could contact us and share your OctaFX account details, we’ll be happy to look into what happened and investigate the matter with our Finance Department. We regret to read that you had trouble withdrawing your funds. However, we couldn’t look into your previous enquiries since you didn’t provide your trading account number. Please send it to us, and we’ll be happy to investigate the said issue.
Advice and support is plentiful and runs through to a section dedicated to the provision of VPS for Algo. The proprietary cTrader app is easy to use, robust and well set out to assist mobile trade execution. Whilst it does allow users to keep on top of administrative tasks such as withdrawing and depositing funds it has the feeling of something that in essence was designed to help traders trade. Please leave your comments at the end of this review to help us improve but more importantly help other traders make informed choices. One area where OctaFX stand out is their approach to trader feedback. There is even a forum where traders interested in getting the most out of trading with OctaFX can benefit from airing their views or taking the opinions of others. OctaFX boasts quality customer support services as one of the premium services it offers to its customers.
A unique blend of different account types offering a variety of commission-free trading, varying leverage amounts, no spread mark-ups and copy trading access. According to the broker, ZenDesk reports that OctaFX is 87.1% better than the industry average for customer support, boasting a 7 second response time and a 96% customer satisfaction rate. Users opening an account with OctaFX.eu will face different options due to restrictions on leverage and promotions from the recent ESMA regulations towards retail clients. The broker’s OctaFX.eu website is an approved domain registered with the Cyprus Securities and Exchange Commission under Octa Markets Cyprus Ltd. This enables users to trade with a broker under European regulatory oversight.
Local bank transfers are also available for traders from certain countries, including Thailand, India, and Nigeria. Unfortunately, however, we have to note that with OctaFX, the MT4 trading platform is currently only available for clients outside the European Union.
Thank you for letting us know and sharing your experience with us. Unfortunately, you didn’t FXCM Forex Brokerage Company provide your trading account number, and we couldn’t identify you on our system.
OctaFX updates three sections several times throughout the day, with trading ideas and market commentary. The cTrader account offers a very competitive commission of $3 per lot, but spreads are higher than in the MT4 alternative. Negative balance protection exists, ensuring traders cannot lose more than they deposit. When making a choice you may seriously take into consideration the amount of happy or unhappy comments about the broker that you have looked through. We regret that we couldn’t respond to you when you posted your review, but we didn’t work with forex-ratings reviews until now.
OctaFX notes that these reps handle over 2,000 inquiries each day and resolve queries in five minutes on average, a testament to their professional ability to respond in a timely fashion. The company also supplies market news, research, and a convenient economic calendar. OctaFX is an STP-ECN broker, offers tight spreads, negative balance protection, ultra-fast order execution, zero slippage, and no requotes.
cTrader – this software solution is a relative beginner in the market, but is already gaining popularity among many interested forex traders. The terminal is similar to MT4, but it has several additional tools that make it unique and safe.
Octafx Withdrawal Fees
We couldn’t look into your previous inquiries since you didn’t provide your trading account number. Please share this information with us so we could investigate what a cause for the delay was.
However, to continue rendering these offers and services, it must be paid well. The only way it can do this is via fees, commissions, and spreads. Here, we detail the OctaFX fees and spreads so that you can be well informed as to what the broker will charge you for the services it renders. From over 3340 systems available on OctaFX’s copy trading offering, 630 providers were profitable in the last three months or about 18% of all strategies. Overall, I found the layout useful, although I would like to see more performance statistics incorporated to help traders differentiate from among the Masters . Founded in 2011, OctaFX is regulated in only one tier-2 jurisdiction , making it a high-risk broker for forex and CFD trading.