Octa

Octa (formerly OctaFX) is an international Forex broker that has gained immense popularity in Asia for its low costs and copy trading features. It provides a trading environment with no swap fees (overnight fees) and no commission on deposits or withdrawals. This pricing structure appeals to both day traders and long-term position holders who want to minimize non-trading costs.

The platform offers a proprietary copy trading service where users can browse a leaderboard of "Master Traders" and replicate their orders instantly. Octa is also known for its frequent contests where traders can win cars and tech gadgets. It is a legitimate offshore broker that serves clients in over 100 countries, though it does not accept clients from the US or UK.

Frequently Asked Questions

1. What is Octa Copy Trading?

Octa Copy Trading is a social trading platform integrated into the broker's ecosystem. Investors (Copiers) can select Master Traders based on their risk score and historical gain, and automatically copy their trades. Copiers pay a commission to the Master Trader only when the trades result in a profit.

2. Are there swap fees?

No, Octa offers a swap-free trading environment for all users, not just Islamic accounts. This means you are not charged interest for holding positions overnight, which can result in significant savings for swing traders who keep trades open for days or weeks.

3. specific minimum deposit?

The minimum deposit amount is typically $25 depending on the payment method used. However, Octa recommends depositing at least $100 to ensure you have enough margin to open trades safely and manage risk without being stopped out immediately.

4. How fast are withdrawals?

Octa is known for fast processing times, with most withdrawal requests processed within 1 to 3 hours. Financial departments work 24/7, so you do not have to wait for business days to receive your funds, especially if using e-wallets or crypto.

5. Is Octa regulated?

Octa operates under a license from the Mwali International Services Authority (Comoros) and is incorporated in St. Vincent and the Grenadines. It also has a European entity (Octa Markets Cyprus Ltd) regulated by CySEC, but the global entity operates with offshore regulation to offer higher leverage.