de | cn | ru

Octalios Review - Is it scam or safe?

Octalios Review - is octalios.com scam or good forex broker?

RATING: 3 / 0 REVIEWS Octalios
FIND BETTER FOREX BROKER

RECOMMENDED FOREX BROKERS


Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $250 0.01 1:200 3 pips, fixed?
Bronze $500 0.01 1:200 Variable
Silver $5 000  0.01 1:200 Variable
Gold $20 000 0.01 1:200 Variable

 

Octalios offers four account types, depending on the client’s initial deposit. All accounts are commission-free and offer micro lots for trade on the MetaTrader 4 platform.

 

The Company. Security of Funds

 

Company

Country

Regulation

Maxiflex Global Investments Corp Limited

Cyprus

CySEC

 

Octalios offers trading in over wide range of instruements, including currency pairs, CFDs on commodities, stocks and indices, as well as cryptocurrencies through the popular MetaTrader 4. The brand is operated by Maxiflex Global Investments Corp Limited, which is licensed by Cyprus Securities and Exchange Commission (CySEC) since 2014. The company also offers trading services via EuropeFX.

 

However, when we downloaded the broker’s MT4, it turned out to be provided by another company - Panda Trading Applications Ltd. We find this a bit confusing, to say the least.

 

Cypriot Investment Firms are required to hold at least €730 000 and maintain it. Client funds must be held in segregated accounts and regulated brokers are required to report to the Commission on a regular basis. 

 

Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.

 

Besides, as Cyprus is subject to the EU MiFID regulations, all CySEC-licensed brokers are free to operate in all Member States of the European Union (and of the EEA). 

 

Trading Conditions

 

Minimum Initial Deposit

The minimum deposit required to open an account with Octalios is $250, which is average.

 

Spreads & Commissions

On its website, the broker claims to provide solely variable spreads, and has indicated that ECN spreads start from 0.1 pips on EUR/USD and that a commission of $4.5 is charged per lot (per side). When we tried out Octalios’ MT4 in demo mode, we found several price feeds for each instrument. For the EUR/USD there is indeed a price feed with average spread of 0.2 pips and NO COMMISSION FEES, which is practically impossible. There is also another price feed for this currency pair where the spread is fixed at 3 pips, which is too high. Most fixed-spread brokers provide spreads of 2 pips for this pair and others – even better.  easyMarkets, for example, offers fixed spreads averaged spread of 1.0 pips on EUR/USD and charges no commission.

 

Nonetheless, we find the mismatch between the trading conditions announced on the broker’s website and the ones available at the the demo MT4 platform more disturbing. Either Octalios lies about its real trading conditions, or has not set its platform right. Either way, a serious and reliable brokerage would not allow such a thing.

 

Leverage

The maximum leverage level offered by Octalios is 1:200, which is average. In order to protect traders from the risk associated with using higher leverage levels, CySEC has proposed the default leverage to be set at 1:50.

 

Still, many Cyprus-based brokers offer considerably higher leverage levels: for example, easyMarkets offers leverage up to 1:400.

 

Trading Platforms

 

Octalios supports the most widely used forex trading platform MetaTrader4 (MT4), available as desktop, web and mobile versions. 

 

MT4 remains the preferred choice of most traders (and brokers) worldwide, as it provides a full range of trading tools and features: many built-in technical indicators, advanced charting package, automated strategies (EAs) and extensive back-testing environment.

 

 

Octalios’ desktop MT4 with the two price feeds described above. Click to zoom in.

 

Methods of Payment

 

Octalios supports the following payment methods: bank wire transfer, credit/debit cards and e-wallets Skrill & Neteller.

 

Conclusion

 

Octalios is a CySEC-regulated FX and CFD brokerage that supports the MT4 trading platforms. The main problem with this broker is that we cannot tell what are their real trading conditions, as the company’s website claims one thing, while their demo MT4 reveals a different situation. To sum up the above, here are the Pros and Cons with regards to this broker:

 

Pros Cons
Well-regulated  The trading conditions on the website differ from those on demo MT4
MT4 available The name of another company appears on the demo MT4
Rich product portfolio  

 

Latest news about Octalios
No news about Octalios . 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,
cTrader
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$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 MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Octalios

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru