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TickmillOcta Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Octa (formerly OctaFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform.
Octa has made great strides with innovation in its web platform, and new educational content, but offers a limited range of tradeable instruments compared to the best multi-asset brokers. Octa may be best suited if you are new to trading and live in a region where you require support in non-English languages, such as Southeast Asia.
-
Minimum Deposit:
$25 -
Trust Score:
72 -
Tradeable Symbols (Total):
300
| Range of Investments | |
| Commissions & Fees | |
| Platforms & Tools | |
| Research | |
| Mobile Trading | |
| Education |
Check out ForexBrokers.com's picks for the best forex brokers in 2025.
| 2025 | #47 |
| 2024 | #47 |
| 2023 | #49 |
| 2022 | #37 |
| 2021 | #27 |
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Table of Contents
Pros & cons
Pros
- OctaTrader now includes AI-powered performance analytics.
- Copy trading and proprietary platforms available.
- Research includes forecasts, trading ideas, and third-party content.
- Offers swap-free and Sharia-compliant trading accounts.
Cons
- MT5 has 230+ symbols; only 80 on OctaTrader.
- No dates listed with spreads makes pricing unclear.
- The cTrader platform was recently discontinued.
Trust Score
Developed by ForexBrokers.com and in use for nearly 10 years, Trust Score is a proprietary rating system powered by a range of unique quantitative and qualitative metrics, including each company’s number of regulatory licenses. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). Learn more.
Is Octa Safe?
Octa is considered Average Risk, with an overall Trust Score of 72 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 one Tier-4 regulators (High Risk). Octa is authorised by the following Tier-1 regulators: Regulated in Cyprus and in the European Union via the MiFID passporting system. Learn more about Trust Score.
| Feature |
 Octa
|
|---|---|
| Year Founded | 2011 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 1 |
Range of investments
Octa offers a mere 257 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments.
Cryptocurrency: Cryptocurrency trading at Octa is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
The following table summarizes the products available to Octa clients.
| Feature |
Octa
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 300 |
| Forex Pairs (Total) | 35 |
| U.S. Stock Trading (Non CFD) | No |
| Int'l Stock Trading (Non CFD) | Yes |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Octa Fees
Octa has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, Octa boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders.
Account types: Any commissions or fees you pay at Octa will depend on your chosen account type and the Octa entity under which your account is regulated. European clients will choose the broker’s EU entity, whereas international clients are served either from South Africa, or from Octa’s offshore entity in Mwali. In the EU, only MT5 is promoted and thus a single account is available, whereas the foreign entities offer accounts for both MT4 and MT5, alongside OctaTrader.
Spreads: Octa’s spread pricing varies depending on which of its entities regulates your account. For example, its EU entity is slightly better for the EUR/USD pair with 0.5 pips listed as the average spread, compared to 0.9 pips for the foreign entities. It’s worth noting that Octa does not provide a date range for its typical spread data listed on its website, and thus the values don’t carry as much weight as spreads that have a corresponding date reference. All in all, Octa has improved its pricing and appears to keep pace with the lowest-cost MetaTrader brokers, but with no date range available for its average spread claim, we were unable to make an exact comparison.
Steven's take
Octa has improved its pricing and appears to keep pace with the lowest-cost MetaTrader brokers. That said, with no date range available for its average spread data, I was unable to make a precise comparison to the best brokers."
| Feature |
Octa
|
|---|---|
| Minimum Deposit | $25 |
| Average Spread EUR/USD - Standard | 0.9 |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | No |
| ACH or SEPA Transfers | No |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Mobile trading apps
Octa does have a proprietary mobile app for trading, as well as for social copy trading (the Octa Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry.
Apps overview: Octa is primarily a MetaTrader broker which means that iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps come standard and are both available for download from the Apple App Store and Google Play store, respectively. Octa also offers two proprietary mobile apps: its Octa Trading app and Octa Copytrading (for copy trading) . I was unable to install or test either app due to geolocational restrictions I encountered on Google Play.
| Feature |
Octa
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Watchlist Syncing | No |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Charting - Multiple Time Frames | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Charting - Indicators / Studies | 30 |
Trading platforms
Though Octa provides access to its proprietary OctaTrader web trading platform, Octa is primarily a MetaTrader broker, offering MetaQuotes Software Corporation’s suite of platforms that include MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
OctaTrader: Octa’s newly launched web platform delivers a simple trading experience, offering the basics needed for essential trading operations without any frills. While OctaTrader has made notable progress year-over-year, such as with the addition of its Vision module which incorporates technical analysis directly into charts and posts in a dedicated social feed. I was impressed with this feature and its most recent AI-powered performance analytics, known as Octa Vision which was in beta when I tested it in the platform. I also like the ability to trade directly within the chart, and the ability to drag-to-modify your stop-loss and limit orders. Overall, Octa has made significant progress even though it still has a long way to go if it wants to compete with the trading platforms offered by the best forex brokers in the industry.
Trade ticket on the Octa web platform, detailing order parameters.
Copy trading: Octa offers a web interface for copy trading (providers are known as Masters) that connects to its MetaTrader 4 (MT4) platform offering. Overall, I found that the available performance statistics made it difficult to make meaningful comparisons between Octa's "Masters." For example, it is much easier to compare the investors available to copy on eToro's copy trading platform. The lack of these useful features means that Octa’s copy trading offering still trails behind the best brokers for social copy trading.
From among the trading systems known as "Master Traders" to copy on Octa's Copytrading app, there are 1,390 newcomers, 986 growing talent, 703 high achievers, 360 experts, and 223 legends. These labels denote some milestone that the Master Traders have reached, although their performance and results can vary. Overall, with the new tools added to make it easier for you to compare the performance rankings when selecting which traders to copy, Octa has inched closer to the best in class brokers but still has progress to make compared to peers in this category.
For example, the "minimum expertise" field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page.
Pro tip: It's important to remember that past performance is not indicative of future returns, and although choosing trading systems with consistent historical returns can increase the statistical probability compared to traders that are less consistent, when it comes to projecting potential future rates of returns, other factors must be considered, including your personal goals and risk tolerance.
For instance, consider the timing or when to copy or when not to, whether there are any existing open positions, and the number of followers a trader has, as well as the percentage of profit sharing (i.e. performance fee), among other data and tools available when making selections.
| Feature |
Octa
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
| ZuluTrade | No |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 15 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 7 |
Research
Octa’s market research is well organized and varied in its content. Rather than specializing in any one field, Octa provides a wide assortment of content types. However, when compared to research leaders IG, Saxo, and CMC Markets, Octa has room to enhance its research offering. For instance, I found that the content on the Octa Blog is not updated daily across all categories.
OctaTrader Space research articles from Octa, with actionable insights.
Research overview: Octa’s research content lives in its Market Insights section, which features an economic calendar, daily analysis posts, as well as automated technical analysis by way of MetaTrader’s Autochartist plugin. My favorite features were the interest rates tracker, daily and weekly forecast articles, and the economic calendar – which was useful for keeping track of national holidays and global trading hours.
Market news and analysis: Octa produces daily articles that cover technical and fundamental analysis across popular trading symbols including forex and CFDs. It also offers its OC LiveTrader series, which consists of video content that is live-streamed on its YouTube channel, which recently surpassed one million subscribers. The quality of Octa’s research material is a touch above with what you’d typically find with the average broker, although still trails behind the rich content offered by the best brokers in this category.
Space and Octa Vision: Octa provides market research within its OctaTrader web platform as part of its newly launched Space module which integrated analysis alongside charts in a social feed style post. I found the content of good quality and well integrated. In addition, next to this module is the Octa Vision performance analytics powered by artificial intelligence. I thought using AI to analyze your closed and historical trades was an interesting use case of the technology.
| Feature |
Octa
|
|---|---|
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | Yes |
| Trading Central (Recognia) | No |
| Social Sentiment - Currency Pairs | No |
Education
Octa has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos. I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading.
Educational articles from Octa, supporting trader learning journeys.
Learning center: Octa’s website has a dedicated forex education section with roughly 20 articles for beginners. The Octa Youtube channel has archived webinars, and also hosts its Forex Basic Course video series that spans 11 parts.
Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out Octa’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It's worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
Room for improvement: Octa’s educational offering continues to benefit from an overall expansion of its video content and an increase in the range of topics covered. Adding additional written articles and courses would be a further benefit. I'd also like to see a deeper level of organization; arranging the educational content by experience level would balance the overall experience. Check out my guide to the best free forex trading courses to see my favorite sources of free forex education.
| Feature |
Octa
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
Final thoughts
Octa offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if Octa wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education.
Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), Octa’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
Octa Star Ratings
| Feature |
Octa
|
|---|---|
| Overall Rating |
|
| Trust Score | 72 |
| Range of Investments |
|
| Commissions & Fees |
|
| Platforms & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
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Our testing
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Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
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- For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
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Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
Forex Risk Disclaimer
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About Octa
Founded in 2011, Octa (formerly OctaFX) is part of a group of global entities, which include Octa Markets LTD (based in the island of Mwali) and Octa Markets Cyprus Ltd (based in Cyprus). Octa also provides financial services through its intermediary, Orinoco Capital (based in South Africa). Lastly, Octa also has an entity regulated in Mauritius, through Uni Fin Invest .
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.