Beware! Octa.Trade is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Octa.Trade is yet another offshore broker – there are problems with its regulation, its lack of Terms and Conditions and even its trading software. We cannot recommend you trade with the broker – and if you still plan on investing in it, read the following review first – it might save you a lot of headaches!

Octa.Trade regulation and safety of funds

Octa.Trade does not state where it operates from, or if it has a license with any particular regulator. This means that the company is not under anyone’s oversight.

A company without a license cannot prove it is not running a scam – much less that it can provide any protections from the FX market’s fabled volatility. These protections vary from country to country, but in the UK, for example, they include access to guarantee funds and Negative Balance Policy – if you would like to learn more about UK brokers, you can do so here, but the point is to always stick to licensed companies!

Octa.Trade trading software

Octa.Trade provides access to a web-based trading platform. It is quite lacking when compared to industry standard Metatrader 5 – it does not have any automated trading available. Here is what it looks like:

Something worth mentioning about the platform is that it provides access to a rather controversial trading mode – social trading. With it, you can track and copy the trading strategies of the top performers on the platform. What makes the feature controversial, however, is the fact that shady brokers like Octa.Trade exploit it to make it appear that trading with them is a lot more lucrative than what is possible – and that is the case here as well. Check out the top trader on the platform:

There is no way that anyone has achieved such a high success rate – it seems that Octa.Trade has been fiddling with their numbers!

On the matter of the broker’s trading conditions, they are nothing to write home about – the spreads are too wide, sitting at 3 pips when legitimate brokers keep them under 1 pip for FX majors like the EURUSD. The leverage is too high too – 1:200 has been seen as too much by most regulators out there. This means that most brokers that still have such high leverage available are unlicensed, scammers, or both – be extremely careful whenever you see it advertised in the wild!

Octa.Trade deposit and withdrawal methods and fees

Octa.Trade accepts deposits via credit cards – that is quite beneficial, as cards allow for a chargeback to be filed on any payment within 540 days of it – and that might prove necessary, with the broker concealing its Terms and Conditions from us, which is usually a sign you are dealing with a scam!

How does the scam work?

Unfortunately, there is no way to describe Octa.Trade, other than as a scam – and what’s more, the broker follows the scheme described below. It is by no means novel in any way – we have seen hundreds of such scams in the past. Here is how they play out:

First off, someone stumbles upon the website Octa.Trade runs – and from there, are prompted to make an account. Should they chose to do so, they are required to leave a phone number – and if they do, the scammers will start calling around the clock to demand money – more and more will be taken from the victim, until they either realize what’s going on or run out of money – at which point, the scammers will cut them off and move on to new targets.

What to do when scammed?

If you have been scammed, it would be wise to take the following steps to make sure you do not suffer further losses:

First off, reissue whatever credit cards and forms of ID the scammers had access to – and get rid of whatever remote control software they had you install on your PC!

Secondly, contact your bank and see if you can file a chargeback – and even if one is not possible, do not trust any recovery agency that might contact you and promise to restore your losses at the cost of an upfront payment – that is simply another scam, designed to pray on victims of the previous one!

Finally, do not hesitate to leave a comment in the section below – that would help raise awareness of the scam, which is the best way to combat it!

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *