OCTAFX – OVERVIEW OF THE TRADING PLATFORM

Min. deposit
5$
Min. trade price
0.01$
Website address
https://www.octafx.com/
Demo account
No
Currency
EUR USD
Supported languages
Eng
Active
Yes
* The amount that will be credited to the account in the case of a successful deal

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Samuel Gbenga Joseph
Samuel Gbenga Joseph
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Although it took longer time to resolve. The issue was mostly from me. I used a third party app to make a transaction which was warned against. Octafx was able to resolve it at the end. Thank you very much.

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Iswahyudi
Iswahyudi
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Fast respond yea and well thank goodness

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Great awesome

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Chidinma Matthias
Chidinma Matthias
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Your Services are great and friendly

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Dariush
Dariush
stars
nz
I personally found OctaFX is a credible and reliable international regulated Forex pro old broker out there.. the reason for real account I just opened because spreads are usually low and very good and the execution is as fast as thunder. With its swap-free 1:500 leverage offering and attractive incentives and bonuses also with high standards of secure trading environment, as of the regulation it imposes. since 2011. STP-ECN broker, offers tight spreads, negative balance protection, ultra-fast order execution, zero slippage, and no requotes. OctaFX opens the gates for weekend crypto trading. that is great advantage for busy people working during the week.

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Ankit Kumar
Ankit Kumar
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Good good good👍🙏👍

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Rethina Kumar V
Rethina Kumar V
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Excellent broker

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Enosatale Prosper Eguabor
Enosatale Prosper Eguabor
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ng
I did a withdraw and in less than 2 hours I received my funds 😊

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Serdar Berke OZYASAR
Serdar Berke OZYASAR
stars
tr
OctaFX pay our profits. I try and confirm.

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Idorenyin Udouwem
Idorenyin Udouwem
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An efficient and reliable broker

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Crypto Trading
Crypto Trading
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dz
It's rare to find serious brokers like yours. Thank you for the work you are doing, I am very satisfied.. I hope you will continue on this path and I will always be with you for life.. Bravo Octafx team

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Usman Alfa Ismael
Usman Alfa Ismael
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Good brokers

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Manohar Singh
Manohar Singh
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in
Good app for trading

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Murphy Fadairo
Murphy Fadairo
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ng
Octa FX is the best broker in Nigeria. The service is second to none. Easy deposit , seemless withdrawal and 24hrs customer service. What more should we ask for

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M Asif
M Asif
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Good excellent

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BabaCASHFLOW
BabaCASHFLOW
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They're very transparent and honest. I give them a billion stars🌟, I have used so many brokers for almost a decade experience in trading and they beat so many of them.

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Pravin Patel
Pravin Patel
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in
Educate in local language so Poor rular public more Connect with octafx aap Superb application

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Idegun Martins
Idegun Martins
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ng
Amazing broker nice one you need to work more of your prompt crediting our account.

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Faiz Ullah
Faiz Ullah
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pk
Its very good app.i love him

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Today I’m going to talk about OctaFX.

The brokerage firm provides one of the best trading environments.

Its features cater to every level of trader.

OctaFX

Let’s take a deep dive into what OctaFX is and its key features.

OVERVIEW OF OCTAFX 

Founded in 2011 in Saint Vincent and Grenadines, OctaFX is one of the top brokers.

It offers various features to anyone who wants to enter the financial markets.

The company promises to provide high-quality trading services to its clients.

OctaFX spans over 100 countries and is a service provider for thousands of traders.

The firm offers plentiful tradable assets along with efficient trading platforms.

Learn how to differentiate real trading platforms!

The leverage and commissions are some of the best in the industry.

When talking about educational content, OctaFX stands out.

OctaFX homepage

OctaFX homepage

It offers trading content for every level of trader.

I’ll dig deeper into everything later, so don’t worry!

Since its foundation, it has received several awards for its services.

Recently, OctaFX received the best broker of Asia award in 2021.

It has also partnered with Southampton FC.

Let’s go into details, shall we?

Content

WHAT ARE OCTAFX REGULATIONS?

WHAT ARE OCTAFX REGULATIONS?

Having a license from a reputable regulatory body is necessary for any broker.

Regulations ensure that your trading funds are secure with the broker.

Let’s find out what is the regulation for OctaFX.

As I mentioned, OctaFX has its main branch in Saint Vincent and Grenadines.

So, it has regulations from SVG’s Financial Services Authority.

The broker also has regulations from CySEC.

Having CySEC regulations means OctaFX complies with European laws.

The broker recently became a member of the UK’s FCA (Financial Conduct Authority).

FCA is one of the top regulatory bodies on the planet.

While talking about regulations, you need to consider a few things.

Here I’ll give you details about them.

PROTECTION OF FUNDS

Every broker must comply with regulatory bodies’ investors’ protection funds.

FCA and CySEC require brokers to protect investors’ funds in case of bankruptcy.

So, with OctaFX, you have a protection of $20,000 if the broker doesn’t protect your funds.

CAPITAL SPECIFICATIONS 

Brokers must meet minimum capital requirements.

It is the amount brokers must have if they can’t pay you.

It’s the protection of your funds.

Brokers must meet minimum capital requirements

It acts as a buffer between your funds.

If a broker does anything suspicious, you can file a complaint against it.

You can complain about the regulatory bodies’ websites.

OctaFX is licensed from CySEC.

So, in case of any doubt, you can contact CySEC authority.

Also, OctaFX is a member of FCA.

FCA is one of the hardest regulatory bodies in the world.

Brokerage firms must comply with strict policies when they become a member of FCA.

Therefore, OctaFX complies with all of FCA policies.

SEGREGATED FUNDS 

Segregated funds help in keeping clients’ money separate.

It means that the broker can’t use your money.

A broker can’t tap into our account and use your profits or account balance.

OctaFX complies with the segregated funds’ policy.

So, rest assured your funds are in safe hands.

Having segregated funds also means fast processing of withdrawals.

You can instantly request withdrawals and OctaFX will price it.

Further reading

WHAT CAN I TRADE?

WHAT CAN I TRADE?

OctaFX offers a plethora of tradable products.

So, you can diversify your portfolio.

Let’s see what OctaFX has to offer.

OctaFX offers over 32 forex pairs.

The pairs include forex majors, minors, and some exotics.

There’s confusion that OctaFX is exclusively a forex broker.

However, that’s not the case.

OctaFX does offer forex pairs, but it isn’t limited to forex.

It also offers various assets.

These include stocks, commodities, cryptos, metals, and energies.

You can trade stocks like FAANG (Facebook, Apple, Amazon, Netflix, and Google) and others.

OctaFX forex trading

OctaFX forex trading

OctaFX indices panel includes Dow Jones, NASDAQ, Eurostoxx, and Nikkei.

When talking about cryptos, you can trade Bitcoin, Ethereum, and Litecoin.

You can also trade precious metals like gold and silver, along with energies like gas.

Further reading

WHAT ARE THE ACCOUNT OPTIONS AT OCTAFX?

WHAT ARE THE ACCOUNT OPTIONS AT OCTAFX?

OctaFX provides you with three main accounts.

These accounts differ in terms of fee, leverage, and platform.

Let’s find out which account is best for you.

The first type of account is the micro account.

It has a minimum deposit of $5.

It is basically what you can call a beginner account.

On opening the account, you can trade on OctaFX’s MT4 platform.

In this account, spreads start from 0.4 pips, and there is no commission.

The leverage on the micro account is 1:500 for forex pairs.

However, as I’ll explain in detail later, that leverage depends on your location.

Next comes the Pro account.

You can open it with a minimum deposit of $500.

The spreads on the account start from 0.2 pips and there is no commission.

The leverage for this account is set at 1:200 for forex pairs.

OctaFX provides you with their MT5 platform when you open a Pro account.

The Pro account is suitable for all types of traders.

Thirdly, we have an ECN account.

The account has a minimum deposit of $100 and spreads start at 0 pips.

You get access to the OctaFX cTrader platform when you sign up with this account.

The maximum leverage you can get is 1:500 for forex pairs.

OctaFX account types

OctaFX account types

Besides the three main accounts, OctaFX also has an Islamic account.

The Islamic account complies with Sharia law.

The account doesn’t have an overnight fee for opening positions.

OctaFX has a reputation for providing the best Islamic account.

When talking about account types, OctaFX also offers a demo account.

The demo account is a great choice for anyone starting trading.

You can have the feel of the real account and can learn a lot.

ACCOUNT OPENING PROCESS

The OctaFX account opening process isn’t a hassle.

You can open an account in less than 10 minutes.

All you need to do is:

  • Sign up with your preferred account type and deposit funds.
  • You need to provide your name, email, and password.
  • After that, you can have a trader’s dashboard.
  • You can download the OctaFX platform or use it as a browser and start trading.
Further reading

WHICH TRADING PLATFORMS ARE AVAILABLE AT OCTAFX?

WHICH TRADING PLATFORMS ARE AVAILABLE AT OCTAFX?

Trading platforms define a broker’s ability.

The number of trading platforms a broker has, the more it is flexible for users.

OctaFX offers three platforms; MT4, MT5, and cTrader.

The Micro account comes with the MT4 platform.

The MT5 comes with a Pro account, and the ECN has cTrader access.

All of these platforms offer plenty of trading features for your use.

plenty of trading features for your use

The MT4 and MT5 are the benchmarks of trading platforms.

Most traders use these platforms for trading.

cTrader is new in the platform’s town.

It works with ECN brokers like OctaFX.

Besides the web or the download version, OctaFX comes with the mobile app.

You can access these platforms through a mobile app and trade whenever you like.

Further reading

WHAT’S THE MAX LEVERAGE I CAN GET?

WHAT’S THE MAX LEVERAGE I CAN GET?

Leverage plays an important factor in determining your trade’s profitability.

It acts as a booster for your positions.

However, high leverage can also backfire.

OctaFX has a maximum leverage of 1:500.

The maximum leverage depends on your account type and your location.

By location, I mean from where you open your account.

For instance, if you open an account from Singapore, you can leverage 1:500.

But if you open an account from the UK, the maximum leverage you can get is 1:100.

It’s because when you open an account with the UK, you are under the regulations of FCA.

And FCA limits brokers in providing high leverage.

The same goes for CySEC regulations.

The maximum leverage you can get is 1:200 if you open an account from Europe.

If you open an account besides the UK and Europe, you can have a leverage of 1:500.

Further reading

WHAT ARE THE FEES AND SPREADS?

WHAT ARE THE FEES AND SPREADS?

Fees and spreads play an important role.

High spreads and fees can drain your account.

Let’s find out how OctaFX performs in this regard.

OctaFX offers some low spreads and fees.

It beats some of its competitors in low spreads and fees.

The ECN account has zero spreads on major forex pairs.

But there is a commission on the ECN account.

The Micro and Pro account also has low spreads as I mentioned earlier.

These accounts come with zero commissions.

OctaFX spreads page

OctaFX spreads page

Spreads and fees also depend on the platform.

For example, the MT4 platform has higher spreads than MT5 or cTarder.

Spreads on MT4 start at 1.1 pips for major forex pairs, which is fairly high.

On the MT5 platform, you can spread from 0.9 pips.

Further reading

WHAT ARE OCTAFX TRADING CONDITIONS?

WHAT ARE OCTAFX TRADING CONDITIONS?

Trading conditions define if the broker is suitable for you.

OctaFX provides favorable as I mentioned earlier.

Let’s dig deeper into OctaFX trading conditions.

OctaFX provides floating spreads that change according to market conditions.

OctaFX basically passes on the best bid/ask price from the liquidity provider.

The primary advantage of a floating spread is that it is usually lower than the average.

However, anticipate it to broaden at market open.

For instance, spreads can widen during important news releases or during high volatility.

Slippage is another phenomenon that comes with trading conditions.

When slippage occurs, the OctaFX system configures to fill orders at the best price.

Further reading

WHAT ARE OCTAFX’S DEPOSITS AND WITHDRAWALS?

WHAT ARE OCTAFX’S DEPOSITS AND WITHDRAWALS?

OctaFX offers a vast majority of deposits and withdrawal methods.

In addition, the broker doesn’t charge a deposit and withdrawal fees.

Here’s how OctaFX’s deposits and withdrawals work:

You can deposit funds in EUR and USD as base currencies.

The deposit methods include; bank transfers, credit/debit cards, Skrill, Neteller, and Bitcoin.

All payments are instant accept bank transfers.

It can take up to 3 business days.

You can use all of the above-mentioned methods to withdraw funds.

Again bank transfers can take 2 to 3 days.

FAQs

How much do I need to start trading with OctaFX?

You can open an account with a minimum deposit of $5. However, you may need a decent capital to invest so that you can earn a handsome profit. The reason is, your profit depends on your capital as this all runs in terms of percentage.

Has OctaFX got any regulations?

OctaFX has regulations from CySEC and FSA, while it is a member of FCA. Moreover, the broker is engaged with several local authorities to enhance its footprint worldwide. As time proceeds, the broker is gaining repute across the globe.

How many types of accounts can I open with OctaFX?

You can open three types of accounts; Micro, Pro, and ECN. Each account has peculiar trading conditions, minimum deposit requirement, spread and other variables. As a beginner, you may go for a micro account with minimum deposit.

Which trading platform is best on OctaFX?

All trading platforms are unique, and one isn’t better than the other. It depends on your trading style and your account type. You are entitled to use MetaTrader4 with OctaFX. However, the broker is attempting to move towards MetaTrader5 and perhaps offers other platforms as well.

Which maximum leverage I can choose?

You can have a maximum leverage of 1:500 if you are not from Europe or UK. For European and UK clients, OctaFX offers max leverage of 1:200. You have the ability to choose the custom leverage. Also, the leverage offered are linked to the account types as well.

Should I open an account with OctaFX?

The choice of opening an account with the broker depends on you. This review can act as a guide on the broker’s services. Give it a try with a demo account, observe the trading conditions and then jump with your real money.

FINAL THOUGHTS 

OctaFX is a good all-around broker that offers various services for its clients.

As with other brokers, you must do proper research before opening an account with OctaFX.

Overall, the broker provides a suitable trading environment that satisfies all your trading needs.

Further reading