de | cn | ru

OctaFX UK Review - Is it scam or safe?

OctaFX UK review - is scam or good forex broker?

RATING: 2.6 / 1 REVIEWS ForexBrokerz OctaFX UK


OctaFX UK withdrew their UK license due to Brexit and switched focus to CySec licence, which covers most of Europe. The UK subsidiary is no longer operational but you still can open a account with OctaFX EU.








Trading Accounts


Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads
Micro $5 0.01 1:500 0.6 pips
ECN $50 0.1 1:500 0.6 pips


Octa FX UK offers its clients a choice 2 basic account types on the most popular forex trading platform MT4. Both account types offer fast market execution leverage up to 1:500, and floating spreads. Micro tradeable lots are available solely on Micro accounts, while ECN ones offer more instruments to trade in.


Swap-free (Islamic) accounts are also provided by this broker.


The Company. Security of Funds


Company Country Regulation
OctaFX UK Limited  UK  No longer authorized by FCA


Octa FX UK is the UK unit of offshore brokerage Octa FX. It is an award-winning forex broker that offers trading in 28 currency pairs and precious metals under attractive trading conditions on the popular MT4. Until recently, it was authorised to provide financial services by the UK's Financial Conduct Authority (FCA), one of the most reliable regulators worldwide.


Apart from the numerous strict requirements to licensed entities, the financial regulation in the UK also involves a compensation scheme. All FCA-licensed companies are under the umbrella of the Financial Services Compensation Scheme (FSCS) and in the event of insolvency, there is a maximum compensation cover of £50,000 per person.


However,  Octa FX UK withdrew its FCA authorization in 2017 due to Brexit.


Trading Conditions


Minimum Initial Deposit

The minimum initial deposit for Octa FX UK clients is just $5, a symbolically low amount.


Average Spreads & Commissions

This broker provides commission-free trading and tight variable spreads. Octa FX UK cites as typical a spread of 0.6 pips for the EUR/USD pair, which is a really good offer while most brokers offer spreads within the range of 1.0 - 1.5 pips.  


For further information and comparison, you may look up real-time spreads of 15 leading brokers here.



The maximum leverage level provided by this broker is high, reaching 1:500. In fact, many forex brokers offer leverage 1:500 and even higher, however that is probably about to change in UK, as FCA has proposed leverage to be capped to 1:50 (Like it is in the US).


Regulators impose restrictions on leverage in order to protect traders from the risks associated with trading on margin, which may lead to losses exceeding initial investments. 


Trading Platforms


Unlike its sister company Octa FX, which offers MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader, its UK unit supports solely the MT4, available as PC version and mobile apps.


MetaTrader 4 continues to be the preferred choice of most traders and brokers, despite the fact that its developer MetaQuotes threatened to stop issuing updates to it. The platform is equipped with a number of technical analysis indicators, advanced charting package, Expert Advisors (EA) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform. It comes in desktop and mobile versions.



Currently Octa FX Forex offers up to 50% bonus on each deposit.


Methods of Payment


Clients of Octa FX UK may choose from a wide range of payment methods: bank wire transfer, credit card, Skrill, and Netteller.




Octa FX UK is the UK branch of OctaFX group, which, however, is no longer licensed by FCA. The broker offers trade in currency pairs and spot metals on the industry’s standard MT4 under competitive trading conditions. To sum up the above, here are the advantages and drawbacks in relation to this broker:


Pros Cons
Tight spreads No longer authorised by FCA
Fast execution speedion No choice of trading platforms
STP/ECN execut  
Latest news about OctaFX UK
No news about OctaFX UK. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for OctaFX UK
















Price feed















Customer service










de | cn | ru