OctaFX General Information
|👤 Broker Name :||OctaFX|
|🏣 Company Name :||Octa Markets Incorporated|
|📅 Foundation Year :||2011|
|✅ Regulated by :||FCA, IFSA, SVG|
|🏢 Headquarters :||Islands Saint Vincent and the Grenadines|
|📉 Broker Type :||ECN/NDD|
💵 OctaFX Minimum Deposit :
|💹 Maximum Leverage :||1:500|
|💱 Base Currency :||EUR, USD|
|🇺🇸 US Traders :|
Our OctaFX Review
OctaFX was founded in 2011, and today is one of the leading online Forex and CFD brokers. The brand rights and all reins of management are concentrated in Octa Markets Incorporated, registered in the islands of Saint Vincent and the Grenadines. The company’s registered office is Cedar Hill Crest, PO Box 1825, Villa, St. Vincent, and the Grenadines. Thanks to the use of advanced technologies, OctaFX can provide quality brokerage services in more than 100 countries worldwide. The company conducts its activities in full compliance with international regulatory norms and regulations. Broker OctaFX makes every effort to make its clients satisfied and trust the company and provides services that meet all its clients’ trading needs.
Is OctaFX legal?
Since the broker appeared on the market only in 2011, the question of this broker’s reliability arises by itself. However, while studying the OctaFX broker, we noticed that several regulators regulate it. Firstly, the broker OctaFX received a license to operate within the UK from the British Financial Conduct Authority (FCA), the leading market regulator, and has become a kind of “gold standard” on the Atlantic side.
Secondly, the company received a license for trading services under the International Business Companies Law from Saint Vincent and the Grenadines’ regulatory institutions. In addition to the above rights, the broker is also regulated and licensed by the Caribbean Financial Conduct Authority (FSA).
As a confirmation of the reliability of OctaFX, we can mention that the broker has received several awards in recognition of his achievements from the Global Banking & Finance Review. In 2012 – just one year after entering the market – the broker received the title “Fastest Growing Micro Forex Broker.” OctaFX was also named Asia’s Best Broker Support Service in 2013. The company received awards from World Finance Magazines for Best Broker in Central Asia and Best Broker in Central and Eastern Europe in the same year. OctaFX was also named “Best Brokerage Support” by FX Empire. In 2015, the OctaFX broker was nominated by Forex Report for the title of “Significant Contribution to the Development of the FX Industry” and received the title of “Best STP Broker of 2015”. In 2016, OctaFX again received awards – the tags “Best STP Broker,” “Most Open Broker,” was added to its piggy bank, and the company was also nominated for other titles. Looking at the list of awards of the broker OctaFX, we can say that the company has proven its reliability and solvency as a broker in the online industry.
OctaFX Trading Platforms
OctaFX provides its clients with the opportunity to choose among several reliable trading platforms. The broker supports platforms: MetaTrader 4, MetaTrader 5, and CTrader.
MetaTrader 4 is the most popular trading platform in the online trading industry. The platform provides an extensive selection of charts and technical indicators. It also supports automated trading using Expert Advisors (EA). The platform is available in four versions:
- MetaTrader 4 Desktop (for desktops)
- MetaTrader 4 WebTrader (web version)
- MetaTrader 4 Android
- MetaTrader 4 iOS
As an alternative to MetaTrader 4, the MetaTrader 5 trading platform was added in 2016 – the MetaQuotes Software trading platform’s latest version. The updated platform is as reliable as MetaTrader 4 and supports several orders, such as pending orders, trailing stops, and other stop orders.
The platform was recently introduced to the global online trading community. CTrader is an ECN trading platform that gives traders direct access to the markets. This platform has adequate liquidity so that a trader can count on the best market spreads. The CTrader trading platform is also available in four versions:
- CTrader Desktop (for desktops)
- CTrader WebTrader (web version)
- CTrader Android
- CTrader iOS
OctaFX account types
To meet the requirements of various client groups from over 100 countries around the world, OctaFX offers three different types of trading accounts:
- Initial minimum deposit requirements: $ 100
- 28 currency pairs + 2 precious metals
- MetaTrader 4 platform
- Recommended for beginners
- Leverage up to 1: 500
Account type “Pro”
- Initial minimum deposit requirements: $ 500
- MetaTrader 5 trading platform
- Recommended for experienced traders
- Leverage up to 1: 200
Minimum trade size: 1 lot
- Market order execution up to 0.1 seconds
- 28 currency pairs + 4 metals, two energies, and ten indices
- Accuracy of quotes: 5 decimal places
- Initial minimum deposit requirements: $ 100
- 35 currency pairs + 2 precious metals
- Floating spread
- Leverage up to 1: 500
OctaFX commissions and spreads
OctaFX offers exceptionally tight spreads. Quotes on the OctaFX platform are given with the fifth decimal place’s accuracy and start from zero points for ECN accounts. There are no commissions payable when executing a trade through OctaFX. Remember that spreads can change over time.
What is the minimum deposit for OctaFX?
To simplify the procedure for depositing and withdrawing funds from an account, OctaFX offers its clients several methods of transferring funds to choose from.
The following methods are available to fund your account:
- Major credit cards such as VISA and MasterCard. The minimum deposit for a credit card top-up is $ 5.
- Bank transfer
- The minimum requirement to fund your NETELLER account is $ 50.
- Instant top-up with a minimum top-up amount of $ 50.
- Liberty reserve
Traders from Malaysia and Indonesia can also fund their accounts locally.
How do I withdraw money from OctaFX?
Withdrawals from the account are usually carried out using the same payment method as the first deposit. To make it easier for traders to withdraw funds, OctaFX has set a low minimum withdrawal threshold of $ 5. OctaFX also does not charge any withdrawal fees, although the trader may have to pay a third-party fee when processing the payment.
Pros and cons of OctaFX
- Regulated and reliable broker
- Many awards broker
- Selecting trading accounts
- Competitive spreads
- Flexible bonus conditions for replenishment
- Many trading platforms
- Regular competitions among traders
- Available for traders from China
- Limited choice of local phone numbers
- Insufficient detail of the FAQ
- The support service works only on weekdays
OctaFX provides its clients with an impressive service. We think this broker will be an excellent choice for newbie traders. Low requirements for a trading deposit – $ 100 – allow everyone, without exception, to open a trading account with OctaFX. Also, their bonuses and incentive programs are worthy of mention. Bonuses have no statute of limitations, so a trader can decide how quickly he wants to fulfill the trading volume requirements and withdraw funds.
In addition to the cash prizes for the winners themselves, the competition also allows traders to hone their trading skills without risking account balances. OctaFX has taken all necessary measures to ensure that the user can always contact them through multiple communication channels. The fact that the site is available in various languages is a big plus for traders looking to register an account with OctaFX but not speaking English.
|💰 Minimum Spreads :|
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|📒 Segregated Account :|
|☪️ Islamic Account :|
|📒 Managed Account :|
|📒 Pamm Account :|
|📒 Affiliate Account :|
|💳 Deposit Methods :||Credit Card, Local Deposit, Moneybookers, Neteller, Skrill, Wire Transfer|
|💳 Withdrawal Methods :||Moneybookers, Neteller, Skrill, Wire Transfer|
|📊 Trading Platforms :||cTrader, MetaTrader 4, MetaTrader 5|
|💰 Fixed Spreads :|
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|📊 Indices :|
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|📊 Crypto Currency :|
|🎁 No Deposit Bonus :|
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|🏆 Contest :|
|🚀 Other's Promotion :|
Get Latest OctaFX Promotion
OctaFX » 50% Margin Bonus on each Deposit
OctaFX » Champion MT4 Demo Contest
OctaFX » Weekly cTrader’s Demo contest
OctaFX » Diwali Gift 2022
OctaFX » 11th Birthday Bonanza Campaign
|👥 24-Hours Support :|
|👥 Support During Weekends :|
|🌐 Web Form :|
|💬 Live Chat :|
|🤙 Call-Back :|
|✔️ Support Language :||Chinese, English, Indonesian, Spanish|
|🌐 Website :|
|📧 E-mail :||[email protected]|
|☎️ Telephone :||+44 20 3322 1059|
|📠 Fax :||N/A|
|📮 Address :||Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines|