OctaFX

Details

Broker OctaFx
Website URL https://www.octafx.com/
Founded 2011
Headquarters St Vincent & Grenadines
Trading Platform MT4 - MT5 - cTrader
Minimum 1st Deposit 100$
Bonus 50% Deposit Bonus
Leverage Up to 1:500 (Forex)
Free Demo Account Yes
Regulated Yes
Regulation Not Regulated
Deposit Methods Perfect Money, Bitcoin, Ethereum
Withdrawal Methods Perfect Money, Bitcoin, Ethereum
Trading Methods Scalping, Hedging, Expert Advisors, Day Trading, Swing Trading
Number of Assets 50 Trading Assets
Types of Assets Forex, CFD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 84

Pros

  • Low Spreads
  • No Swaps on Orders Held Overnight
  • 97.5% of Orders executed without slippage
  • Great ECN Account

Cons

  • Unregulated
  • No CFD Shares to Trade
  • Only 32 Forex Currency Pairs

OctaFx Review (Full)

octaFx islamic account

Is OctaFx a trusted Broker?

Is OctaFx a scam?

Read OctaFX Review and decide whether or not this broker is suitable for you.

Founded in 2011, OctaFX is a unregulated Forex broker located in an offshore territory, St. Vincent and the Grenadines.

This broker is offering to its clients currency trading (Forex Pairs), indices, metals and cryptocurrencies. In OctaFX you can use to trade Metatrader4, Metatrader 5 and cTrader platforms.

OctaFx operates as an STP and ECN Forex Broker.

OctaFx trading website can be found in https://www.octafx.com/

Start a Trading Account in OctaFx

  1. Sign up to OctaFx
  2. KYC is required
  3. There are 3 options to Deposit money to you OctaFx Account
Method Deposit Withdrawal
Perfect Money 25$ Min Deposit, 0.5% commission 5$ Min Witdrawal (no commission)
Bitcoin 0.00096000 BTC (no commission, network fees) 0.00096000 BTC (no commission)
Ethereum 0.02000000 ETH (no commission, network fees) 0.00500000 ETH (no commission)

 

OctaFx Trading Platforms

OctaFX Awards List

Octa FX Features

This broker offers a mobile application through which you can check your account and make certain movements. The application is compatible with ioS and Android. You also have the Copytrading option where you can copy some of the most successful operators and their movements on the platform.

On the other hand we also have the educational part and in OctaFX you can find a lot of materials and also educational resources for their merchants. All this you can find for free on the platform.

Opening an account in OctaFx

In Octa FX you can find three types of main accounts that you can be a part of. Your decision should be based on the money you plan to invest and the strategy you will use. The first is the Micro account, in this you can trade on the MT4 platform and its minimum investment amount is $ 100, that way you can open an account. Its maximum leverage is 1: 500. Then you have the Pro account, in this you work on the MT5 platform, which is a bit more advanced, offers very low spreads than the Micro account and there are also less negotiation costs by volume. If minimum deposit is $ 500. Its maximum leverage is 1: 200.

Finally there is the ECN account, which runs on the OctaFX cTrader platform. Here the minimum deposit is $ 100. Its maximum leverage is 1: 500.

On the other hand, the process to open an account is quite easy, you just have to provide certain personal information to confirm your identification, then you must wait for your account to be approved, but the whole process is merely online.

User experience

In OctaFX you can work with MT4 and MT5 platforms, depending on the account you choose. Both platforms are easy to use and in case it costs you a little at the beginning, the platforms are adaptable. There is also the cTrader platform that will give you access to STP with some of the lowest spreads in the market. In OctaFx the platform provides a fairly responsive and available customer service in different languages, they work 24 hours a day and one of the means through which you can contact them is via email.

Broker security

As regards the security of OctaFX, it has a subsidiary entity which is located in Cyprus. This broker is regulated by the Cyprus Securities and Exchange Commission (CySec), its license number is 372/18. Therefore it falls under the jurisdiction of the CySec authority. Being a European license, it indicates that they can offer all their services to customers in the EU.

Broker pricing

Fees and commissions will depend on the type of account you choose. For example, spreads are wider if the MT4 Micro account is used and there are also fewer instruments to operate. No withdrawal or inactivity fees are charged. And the minimum payment to open an account is $100.

FAQs

  • Is this broker safe?
Yes, although unregulated it is regarded to be a very safe broker to trade. Below, in the comment section you can share your experience with this broker.
  • What is the maximum leverage?
Trading Asset Table
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  • What is the minimum deposit?
The minimum deposit is $100.
  • Does Octa FX offers Islamic Account?
An Islamic account is offered, which is 100% compatible with the Shariah Law, in addition to not paying interest on their overnight positions.

Is OctaFX an ECN Forex Broker?

OctaFx offers an ECN Account

How do I delete my OctaFX account?

To delete your account, you will need to get in touch with the customer support team. Note accounts are automatically deactivated if you never deposit or sign in to them.

How do I open a copytrading account at OctaFX?

You can sign up and login to the Copytrading account in a few easy steps. Once you login to your personal area, you can set up your Copytrading profile and make a deposit to your wallet. You can also sign in to your new account using the Android app.

 

Yes, all Indians can open an OctaFX account. Their website is also offering the Hindi language.

 

Is OctaFx available in Nigeria 🇳🇬 ?

Yes, all Nigerians can trade to OctaFX.

OctaFx has been voted as the Best Forex Broker in Nigeria for 2020 by Global Banking and Finance Magazine

👉 Check out our Nigerian Forex and CFD Brokers List

 

Is OctaFx available in Pakistan 🇵🇰 ?

 

Is OctaFx available in Bagladesh 🇧🇩 ?

 

Is OctaFx available in Malaysia 🇲🇾 ?

 

Is OctaFx available in Thailand 🇹🇭 ?

 

Is OctaFx available in Indonesia 🇮🇩 ?

 

OctaFx Alternatives


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