Octaloptions (octaloption.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.octaloption.com.
The platform at Octaloptions (octaloption.com) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since I opened my account last year of dealing with this, I have had enough.
Pros: Stable platform|API access
Cons: No integrated tax optimization|Charting tools need more indicators
The onboarding at Octaloptions (octaloption.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Risk management tools|Social trading features
Cons: Mobile app could be improved
Octaloptions (octaloption.com) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Customizable dashboard|Clean UI|Automated trading options|Professional team
Cons: Limited ETF selection|Search feature is basic
Octaloptions (octaloption.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Stable platform|Intuitive for beginners|Regular updates
Cons: Search feature is basic
Do not be fooled by the professional-looking website. Behind the scenes, Octaloptions (octaloption.com) is disorganized and incompetent. I found them while looking for alternatives to my previous provider and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Great customer service|Fast deposits
Cons: Alert system is basic
The only good thing about Octaloptions (octaloption.com) is that they remind you why regulation matters. I found them after my brother mentioned them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Easy to use platform|Regular updates|Full transparency
Cons: Onboarding videos are outdated|No fractional shares
The so-called education at Octaloptions (octaloption.com) is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for close to eighteen months thinking they would help me learn.
Pros: Fast deposits|Excellent charting|Dividend tracking|Dedicated account manager
Cons: Search feature is basic|Limited demo account features