Octa is a broker that provides investors with foreign exchange, commodities, stocks and indices trading services. The Octa website supports simplified Chinese, English, German, Spanish, Portuguese, Malay, Indonesian, Vietnamese, Thai, Bengali, Hindi, and Turkish as spoken languages. The Octa account registration page is also available in simplified Chinese, English, German, Spanish, Portuguese, Malay, Indonesian, Vietnamese, Thai, Bengali, Hindi, and Turkish.
Company background:
According to Octa's website, the company is incorporated in Saint Lucia. A query on the Saint Lucia International Financial Centre (IFC) website showed that the company's registration information in Saint Lucia was genuine. In addition, according to the domain name registration information of the website queried by Whois, the domain name of the company's official website was registered on December 9, 2022, and the domain name registration time is not more than 1 year.
Account Registration:
According to Octa's website, the company provides investors with a link to register for a real account. To register a real ACCOUNT, click "SIGN UP" in the upper right corner of the Octa official website, or "OPEN ACCOUNT" on the left of the Octa official website, fill in the Email and password, confirm the Email thickness through the email, and select or fill in the name, country, telephone number, date of birth and other information to complete the registration of the real account. The Octa official website account registration page supports simplified Chinese, English, German, Spanish, Portuguese, Malay, Indonesian, Vietnamese, Thai, Bengali, Hindi, Turkish and other languages. However, the Octa website does not provide a link to sign up for a demo account.
Account Type:
According to Octa's official website, the company offers investors three types of trading accounts, OctaTrader, MetaTrader4 and MetaTrader5, depending on the trading software. The Octa website also provides the differences between these three account types in terms of commissions, spreads, traded products, maximum volumes, Hedging, and programmatic trading (EA). In addition, the company also offers Islamic accounts, but the Octa website does not provide information on the commission, spread, margin ratio, deposit and withdrawal of specific Islamic accounts trading products.
Trading Products:
Octa's official website shows that the company provides investors with foreign exchange, commodities, stocks, indexes trading services. In addition, the Octa official website also provides specific trading products covered by foreign exchange, commodities, stocks and indices under different trading software, as well as the spread and overnight interest information of specific trading products under different trading software.
Margin ratio:
Octa only shows the maximum margin ratio of foreign exchange, commodities, stocks and indices under different trading software on its official website, but does not provide the margin ratio information of specific trading products covered by foreign exchange, commodities, stocks and indices under different trading software.
Trading Hours:
The Octa website does not provide information on the trading hours of specific trading products covered by Forex, commodities, stocks, and indexes.
Deposits and Withdrawals:
Octa official website information shows that the company supports Neteller, Skrill, Mastercard and other methods and channels of deposit and withdrawal. In addition, the Octa website also provides information on the minimum amount of deposits and withdrawals supported by different deposit and withdrawal methods and channels, fees, and deposit and withdrawal times.
Trading Software:
According to Octa's website, the company offers investors MetaTrader4 (MT4), MetaTrader5 (MT5) and its own O) taTrader trading software. All three of Octa's trading software are available on PC (Winodws/MacOS), Web and mobile (IOS/Android). However, the Android version of MT4, MT5 and O) taTrader software cannot be downloaded or installed in some countries or regions, or the download and installation speed is slow.
Other services:
According to Octa's website, the company provides investors with analysis education, copy trading and other services. Among them, the analytical education covers trading and profit calculators, economic calendars, market insights, market news, holiday calendars, webinars, product basics and more. Copy trading allows investors to copy or use the trading strategies or trading methods of others.
Regulatory information:
Octa's website does not provide regulatory or licensing information obtained by the company. The Octa website shows that the website of the Saint Lucia Financial Services Regulatory Authority (FSRA), the regulatory body of Saint Lucia where the company is registered, has not queried any regulatory or authorization information related to the company.
Summary:
Octa is suspected of fraud. Although a query on the Saint Lucia International Financial Centre (IFC) website showed that the company's registration information in Saint Lucia was genuine. However, the Octa website does not provide any regulatory or authorization information obtained by the company, and the Octa website shows that the Saint Lucia Financial Services Regulatory Authority (FSRA) website, the regulator of Saint Lucia where the company is registered, does not search for any regulatory or authorization information related to the company. Judging from this, Octa is suspected of fraud, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
