Which country broker is OctaFX?
(OctaFX) is registered in Saint Lucia under business reg. number 2023-00092. OCTA activity is supervised by the authorities of Saint Lucia. Octa Markets Cyprus Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18.
OctaFx is a global forex and CFD broker that has been operating since 2011. The company's headquarters is located in Saint Vincent and the Grenadines. Over the years, OctaFx has established itself as one of the most popular brokers, serving clients from over 100 countries.
Answer: Yes, Octa 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 recognised licenses, including licenses issued by FSCA in South Africa, CySEC in Cyprus, and MISA in the Comoros..
OctaFX -Good Forex Broker with Local Funding Options in Nigeria.
It is classified as a Non-Govt and is registered at RoC-Mumbai. Their state of registration is Maharashtra. Its authorized share capital is 1000000.00 and its paid-up capital is 1000000.00.
Despite the rumors and concerns, OctaFX continues to serve its Indian clientele, with no indications of halting its services. Traders are advised to stay informed and cautious, especially regarding rumors about fake trading apps and potential bans.
Octa is considered Average Risk, with an overall Trust Score of 70 out of 99. Octa is not publicly traded and does not operate a bank. Octa is authorised by one Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk).
Yes, your funds are safe. All our bank accounts are valid, and we have full access to our funds. We understand you might be worried because of the recent news.
Is FOREX.com better than Octa? In our analysis of 23 international regulators across 62 of the best forex brokers, FOREX.com is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Octa is considered Average-Risk, with an overall Trust Score of 70 out of 99.
The Enforcement Directorate (ED) has provisionally attached assets worth ₹34.75 crore of an online app, OctaFX in an illegal forex trading case.
What is the minimum deposit for OctaFX?
The OctaFX minimum deposit is $25 for both commission-free trading accounts, but OctaFX recommends $100 as a starting minimum. Explore additional up-to-date info about OctaFX, in our OctaFX broker review.
Trading forex with $50 may seem like a daunting task, but it is certainly possible. With proper risk management and a sound trading strategy, you can make the most out of your limited funds. However, it is important to understand that trading with a small account comes with its own set of challenges and risks.
George Pantzis is the CEO of OctaFX.
As stated on their website, over 21 million trading accounts have been opened across 180 countries with OCTA. The broker offers a selection of 230 CFDs across major asset classes, along with access to MetaTrader 4, MetaTrader 5, and its proprietary OctaTrader.
The OctaFX minimum withdrawal amount is between $5 and $50, dependent on the payment processor. OctaFX does not levy internal withdrawal fees, but traders may face third-party payment processor costs, blockchain fees, and currency conversion charges.
In conclusion, Octafx is a legitimate and trustworthy broker in the forex trading landscape.
The ED has been probing the platform for alleged illegal online forex trading through international brokers. According to the agency, OctaFX collected funds from users and then channelised the money through dummy entities. The platform does not have the Reserve Bank of India's approval to trade in forex.
With us, you can open a USD account. Deposit your accounts in any currency—and we will convert your funds into USD with the exchange rate set by the payment system you use.
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. Limits for withdrawals: Skrill, Perfect Money, Neteller—from 5 USD, without the maximum limit. Bitcoin—from 0.00096 BTC, without the maximum limit.
| Company | Forbes Advisor Rating | BEST FOR |
|---|---|---|
| Interactive Brokers | 4.4 | Best Online Broker For Traders |
| TD Ameritrade | 4.4 | Best Online Broker For Beginners And Best For Mobile App Users |
| Fidelity Investments | 4.4 | Best Online Broker For Everyday Investors |
| Charles Schwab | 4.3 | Best Online Broker For Customer Service |
Where is the headquarter of OctaFX?
Global headquarters for OctaFX India Pvt. Ltd. is located in Mumbai, Maharashtra,India.
Deposit and withdrawal fees: OctaFX charges a fee for deposits and withdrawals. The deposit fee is 5% of the deposit amount, and the withdrawal fee is 2% of the withdrawal amount. Inactivity fee: OctaFX charges an inactivity fee of $10 per month for accounts that have been inactive for more than 90 days.
Octa has implemented a transparent refund policy. In case you are not satisfied with our service level, you can request a refund. If an account was funded via debit or credit card, the funds can be refunded to the card. To request a refund, contact the Octa customer care via live chat.
We strongly recommend getting your profile verified before making your first deposit, especially if you want to deposit with Visa or Mastercard.
A safe broker will be regulated by a reputable financial authority, have a good track record, offer competitive trading conditions, and have a strong customer support team. Some of the safest forex brokers in the world include Pepperstone, IC Markets, FXCM, OANDA, FBS, XM, eToro, AvaTrade, IG, Saxo Bank, and FXTM.
