OctaFX Review, personal area octafx.

Personal area octafx


Length of use: over 1 year if you guys want to withdraw the money. Please do 1 year in advance


Real forex bonuses


OctaFX Review, personal area octafx.


OctaFX Review, personal area octafx.


OctaFX Review, personal area octafx.


Octafx review


Octafx is a forex broker. Octa FX offers the MT4, MT5 and ctrader forex trading top platform. Octafx.Com offers over 25 forex currency pairs, cfds, commodities, stocks, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.


OctaFX


OctaFX


Broker details


deposit methods: VISA, awepay, bitcoin, fasapay, local bank deposits, local bank transfers, neteller, paytm, skrill, unionpay

withdrawal methods: VISA, awepay, bitcoin, fasapay, local bank transfers, neteller, paytm, skrill, unionpay

Live discussion


Join live discussion of octafx.Com on our forum


Octafx.Com profile provided by john, may 29, 2012



Octa markets incorporated is a worldwide recognized forex broker. Octafx provides forex brokerage services to its clients in over 100 countries of the world. Octafx uses the most up-to-date technology and knowledge to make your forex trading experience outstandingly convenient. Our top goal is the trust and satisfaction of each client's need and requirements. Octafx sets the highest service level standards and maintains them as well as constantly develops new services and promotions.


Video


Let other traders know if this service is worth checking or should be avoided.


Traders reviews


Length of use: over 1 year


Thank you for taking the time to reach out and share your experience with us. We deeply regret that you experienced trouble depositing your funds. After looking into your review, we can confirm that an error had occurred before your payment was processed. Our financial department is currently investigating it, and we'll make sure to keep you updated throughout the process.


Please note that there are many reasons why a transaction could fail. And in cases where your payment was unsuccessful, it’s essential to contact us as soon as possible, as it might require a thorough investigation by our financial department. We want to assure you that you shouldn’t be discouraged, as we’re certain that our team will be able to locate the payment and resolve the issue you’ve experienced.


We appreciate your patience and please, remember that you can get in touch with us anytime to receive an update on the progress. We’re always happy to help our customers and provide them with the necessary information.


We hope that this issue will not affect your overall experience and you’ll enjoy trading with us once again.


DISCLAIMER: this review is not to state that octafx is the best broker in the world. I've traded with a lot of brokers and never had problems with any of them, with respect to deposit and withdrawals.


Herein are the list of transactions that I did on my account with octafx. It has the ID, time the request was created, and the time it was processed.


DEPOSIT
deposit ID 4703156
created dec 27, 2020 03:23 PM
processed on dec 27, 2020 03:50 PM


WITHDRAWALS
withdrawal ID 1930065
created dec 30, 2020 11:51 AM
processed on dec 30, 2020 12:17 PM


Withdrawal ID 1927033
created dec 29, 2020 08:00 PM
processed on dec 29, 2020 09:42 PM


Withdrawal ID 1920756
created dec 28, 2020 05:53 PM
processed on dec 28, 2020 09:43 PM


Withdrawal ID 1919630
created dec 28, 2020 03:09 PM
processed on dec 28, 2020 03:24 PM


SUMMARY:
I made the deposit to their GTB nigeria account, and made withdrawals to my GTB account. This might be the reason why I never had issues with them.


I'll advise traders to ask them [octafx] questions when they have issues, and be ready to hear and understand.


Thank you for such great feedback. We appreciate you taking the time to share it with our community and giving us one more reason to be proud of the work we’re doing with our team. We’re sure they will be excited to read your review, too, as they do their best to ensure fast and secure payment services.


Please send us a direct message if you have other questions or suggestions. Our team is always here to help, and we'll be more than happy to chat whenever you have time for us.


Deposit take less than 1sec
withdrawal take forever.


If you guys want to withdraw the money. Please do 1 year in advance


Thank you for reaching out and sharing your feelings with us. We're sorry to read about your dissatisfaction with our processing times. Please let us remind you that all withdrawal requests at octafx are processed within a few business hours. However, when our financial department handles a high number of requests, in rare cases, we ask to allow extra time, but it does not exceed 24 hours overall.


Please note that since you didn't provide your trading account number, we couldn't look into your previous requests. However, we wish to assure you that we always strive to improve our services and reduce the processing time. We also want you to know that if your payment is delayed or you feel like it’s taking longer than it should, you can send us a message in the live chat available on the website. Our team will be more than happy to update you on your request status.


We’re looking to hearing from you, so please don’t hesitate to get in touch with us anytime. Our team is available 24/7, and they're always here to help you whenever you need it.


Thank you for letting us know about the problem. We deeply regret that you were having a hard time trying to deposit, and you couldn't reach out to our support team. Unfortunately, we couldn't identify you on our system and look into your previous inquiries since you didn't provide your account details in your review. If you could contact us directly and share this information with our team, it will help us investigate the issue and understand what happened with your payment.


Please note that generally, it takes a couple of hours for bank transfers to be processed. However, we ask you to allow us extra time when our financial department handles a high number of requests. There could be different causes of why your payment is delayed and not reflected in your account. This requires an investigation, and we strongly encourage you to send us your payment proof if your deposit wasn't credited into your account after 24 hours have passed. These actions could help our team look up your payment and process it.


In the meantime, don’t forget that our team composes of real agents committed to helping you whenever you need it, so please contact us after reading this reply. We’ll make sure to find your payment as soon as possible and keep you updated.


Bank negara malaysia


Length of use: over 1 year


Thank you for reaching out and bringing this question to our attention. Unfortunately, we couldn't identify you on our system and look into your review since you didn't provide any details about your trading account or the bank you were using at the time. We’d really appreciate it if you could get in touch with our team and share the necessary details to help us find out what happened and investigate the matter.


We also want to remind you that our support team is always here to help you. They're available 24/7, and we'll be more than happy to hear from you and assist whenever you need it.


We're looking forward to hearing from you soon.


Length of use: 6-12 months


I have a lot of experience with various brokers, but octafx is the absolut best.


Low spreads.
Great bonus conditions.
Very fast withdrawal without any fees..
Good customer service.


Thank you for sharing such thoughtful feedback about our brokerage. We try really hard to provide the best trading experience for our customers here at octafx. Reading reviews like yours is a great hint that we’re providing our customers with the services that meet their needs, and we truly couldn’t be happier that that’s the case for you. We appreciate you being our client and want to say that you're always welcome on our chat at any time if you have any questions or suggestions.


As we’re already addressed your complaint in the thread you’ve created here on FPA, please allow us to echo what we’ve said here.


Thank you for your patience while we consulted your case with our team. After looking into the matters you brought to our attention, we can see that the cards you used to fund your trading account for the first and second time were different.


Please note that in such cases, our financial department may request verification of the second card to ensure it belongs to you and not to a third party, as all third-party transactions are strictly prohibited here at octafx. Therefore, the procedure is fully in line with our security measures.


We cannot merely block the possibility of conducting further transactions because in cases where funds do belong to a third party, we have to ensure that they’re refunded to the originating account. Therefore, it’s the trading activity that must be restricted to ensure that such money is not used for trading.


Looking into your trading history, we can see that the orders you're referring to were closed 17 hours after you got back access to your account. However, those orders could have been closed before the stop out occurred either in profit or with less loss as the two hours of account locking did not impact them. You decided to trade in the same direction, and it eventually led to the stop out. There were no issues from our side, and your orders were executed as per the market conditions. Unfortunately, there are no grounds for compensation/reimbursement as it was solely your decision to continue trading.


We want to remind you that despite this incident, you're always welcomed to contact us anytime, and we'll be more than happy to hear from you and help with any questions you may have.


I have been trading with this useless trader for 3 months now and im becoming more and more worried about the way this company handles my query or any issues.
1. They say there will be no swaps charged to accounts having funded more than 10k.
But they still keep charging the swaps and later asks me to provide details against the wrongly charged swaps. As in I'm working for octa FX and I will keep all this information ready for them.


2. They don't have a trading practice called partially closing a trade. If you are making losses on the trade you cant close it partially to minimize the loss. Rather it will book the entire loss and again open a new trade of the remaining lot. This is so weird and when I spoke to my account manager he gave fake promises of being working on the resolution.


3. They treat their customer with the least priority and I'm still to get my money reversed from them which now more than 50 days.


Nov 6, 2020 - 1 star octafx is a fraud company.. Beware.. You can lose money even without trading. There is no way you can contact there finance team. It's only the customer support team that never has any clue of what is happening.. In my case, 2 transactions of INR50000 got debited from my account on the 5th october 2020 but did not credit to my trading account. Since then I'm chatting with them every day.. But getting the same response .." madam we have requested for update sorry for the delay".. Every single day they are responding with the same message. After 1 month today on 05th nov, I asked them to arrange a call back from the account manager, when that human called me he was clueless about what is happening on my issue. He said he is following up with the finance team but he was not ready to provide a single email communication regarding the same. Still, no one knows what will happen to my funds. They don't have a call-in number. Only chat support. I have been trading with multiple traders and this is the worst of all. You cant talk to them at all. They don't respond to emails.. I'm very frustrated..


Reply by octafx rep submitted nov 20, 2020 dear shaziya shaikh,


Thank you for taking the time to share your experience with us. We're sorry to read that you had trouble depositing your funds at octafx. We've looked into your review, and as we can see, it is still being investigated by our financial department. We can also see that you've recently mentioned on social media that one of the transactions got back successfully, but there's still one missing. We're extremely sorry that it's taking so long, and we apologize for all the inconvenience you may have faced as a result. Please note that we’re still exchanging with the payment processor and are waiting for updates to provide you with as soon as new information reveals itself.


We wish to assure you that we’re committed to resolving this issue as soon as possible but want to ask you to allow us a bit more time. We understand how uncomfortable you may feel about the matter, and we want to tell you that we take it very seriously. We'll do everything that it takes to prevent such cases in the future and reduce the processing times. Please bear with us and remember that our customer support is constantly checking your case and they will be more than happy to provide you with the latest details.


We're looking forward to hearing from you soon. And we hope that it won't take much time to receive your funds back.


We deeply regret to read about your dissatisfaction with our services. We'll be more than happy to receive feedback from you about what could be improved, considering that the issue with swaps has been resolved and you were compensated.


As for the partial order closure, we're aware of the issue. However, it's not something we could influence and fix immediately as it would require an extensive amount of time and effort once such feedback is passed to the relevant department. However, we want to ensure you that we take your suggestions and recommendations very seriously, and we'll make sure they're all addressed and considered by our team.


We would also appreciate it if you could share what could be improved regarding our customer support services to meet your standards. It's one of our top priorities to ensure that we provide the most convenient trading experience to our customers and everything is done to your satisfaction.


Please send us a message anytime soon. Our team is always here for you, and we'll be happy to hear from you whenever you have any questions.



Customer agreement


1. Subject of the agreement



  • 1.1. This client agreement is entered into by octa markets incorporated (hereinafter referred to as “company”) and the client who submitted a registration form at www.Octafx.Com (hereinafter referred to as “client”).

  • 1.2. The company is registered and regulated and governed by the law of saint-vincent and the grenadines. Any legal claims will be a subject of the court hearings. Company’s legal address is suite 305, griffith corporate centre, beachmont, kingstown, st. Vincent and the grenadines.

  • 1.3. The agreement sets forth the relationship between the client and the company including but not limited to: orders’ execution, client policies, payments and/or payouts, claims resolution, fraud prevention, communication and other aspects.

  • 1.4. Any possible arguments between the client and the company will be settled in compliance with the agreement unless stated otherwise.

  • 1.5. By entering into the agreement the client guarantees that he/she is a person of a legal age. In case the client is a legal entity, it guarantees the entity is capable and no other parties are eligible to perform any actions, claims, demands, requests, etc in respect to the client’s trading account.

  • 1.6. All the operations on and with the client’s trading account are performed in full compliance with this agreement unless stated otherwise

  • 1.7. The client has no right to bypass fully or partially his/her obligations by the agreement on the basis that it is a distance contract.


2. Terms definition



  • 2.1. “access data” denotes all the access logins and passwords related to client’s trading account(s), personal area, or any other data providing access to any other company’s services.

  • 2.2. “ask” denotes the higher price in the quote at which the client may open a “buy” order.

  • 2.3. "autotrading software" - denotes an expert advisor or a cbot, that is, a piece of software which performs trading operations automatically or semi-automatically without interference (or with a partial or occasional interference) of a human.

  • 2.4. “balance” denotes the total of all the closed orders (including deposits and withdrawals) in the client’s trading account at a given time.

  • 2.5. “base currency” denotes the first currency in the currency pair.

  • 2.6. “bid” denotes the lower price in the quote at which the client may open a “sell” order.

  • 2.7. “business day” denotes any day between monday and friday, inclusive, except any official or non-official holidays announced by the company

  • 2.8. “client terminal” denotes metatrader 4, metatrader 5, ctrader or any other software in all its versions, which is used by the client to obtain information of financial markets in real-time, perform different kinds of market analysis and research, perform/open/close/ modify/delete orders, receive notifications from the company.

  • 2.9. “company news page” denotes the section of the company’s website where the news is published.

  • 2.10. “currency of the trading account” denotes the currency that the trading account is denominated in; all the account’s calculations and operations are performed in this currency.

  • 2.11. “currency pair” denotes the object of a transaction based on the change in the value of one currency against the other.

  • 2.12. “client information” denotes any information that the company receives from the client (or in other ways) related to him/her, his /her trading account, etc.

  • 2.13. “dispute” denotes either:

    • 2.13.1. Any argument between the client and the company, where the client has reasons to assume that the company as a result of any action or failure to act breached one or more terms of the agreement; or

    • 2.13.2. Any argument between the client and the company, where the company has reasons to assume that the client as a result of any action or failure to act breached one or more terms of the agreement;



  • 2.14. "energy" — energy denotes spot west texas intermediate crude oil or spot brent crude oil

  • 2.15. “floating profit/loss” denotes current profit/loss on open positions calculated at the current price.

  • 2.16. “force majeure event” denotes any of the following events:

    • 2.16.1. Any act, event or occurrence (including, without limitation, any strike, riot or civil commotion, terrorism, war, act of god, accident, fire, flood, storm, electronic, communication equipment or supplier failure, interruption of power supply, civil unrest, statutory provisions, lock-outs) which, in the company’s reasonable opinion, prevents the company from maintaining an orderly market in one or more of the instruments;

    • 2.16.2. The suspension, liquidation or closure of any market or the abandonment or failure of any event to which the company relates its quotes, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event.



  • 2.17. “free margin” denotes funds in the client’s account, which may be used to open a position. Free margin is calculated in the following way:

    Free margin = equity - required margin.



  • 2.18. “IB” denotes the client whose application for the IB status submitted via the company’s website was approved by the company.

  • 2.19. "index CFD" denotes a contract for difference by reference to the fluctuations in the price of the underlying stock index.

  • 2.20. “indicative quote” denotes a price or a quote at which the company has the right not to accept or execute any orders or perform any modifications to the orders.

  • 2.21. “initial margin” denotes the required margin to open a position. It can be viewed in the trader’s calculator.

  • 2.22. “instruction” denotes an instruction from the client to open/ close a position or to place/modify/delete an order.

  • 2.23. “instrument” denotes any currency pair, metal, energy or index CFD. It can be also referred to as “trading instrument” or “trading tool”

  • 2.24. “leverage” denotes the virtual credit given to the client by the company. E.G., 1:500 leverage means that initial margin for the client will be 500 times less than the transaction size.

  • 2.25. “long position” denotes a buy order, that is, buying the base currency against the quote currency.

  • 2.26. "lot" denotes 100000 units of the base currency, 1000 barrels of crude oil or any other number of contracts or troy oz. Described in the contract specifications.

  • 2.27. “lot size” denotes the number of units of base currency or troy oz. Of metal defined in the contract specifications.

  • 2.28. “margin” denotes the amount of funds required to maintain open positions, as determined in the contract specifications for each instrument.

  • 2.29. “margin level” denotes the percentage equity to required margin ratio. It is calculated in the following way:


    Margin level = (equity /required margin) * 100%.



    Octafx review


    Review


    Octafx, a broker in operation since 2011 out of st. Vincent and the grenadines, serves over 1,500,000 traders from more than 100 countries; they report that order execution exceeded 288,000,000. This market maker deploys a straight-through processing (STP) model and offers traders the choice of the MT4, MT5, and ctrader trading platforms. New retail traders from emerging markets are a primary focus, and generous bonuses fulfill an essential role in growing the client base, with over $2,840,000 in bonus funds paid out to date. Octafx maintains a highly competitive cost structure with a commission-free EUR/USD spread of just 0.4 pips. The broker supports social trading via octafx copytrading and autochartist pro supports manual traders.



    Octafx highlights
    ��️ headquarterUK
    ⚖️ regulationsSEBI
    �� type of brokerECN/STP
    �� minimum deposit$50
    �� maximum leverage1:500
    �� type of platformmetatrader 4, metatrader 5, ctrader
    �� deposit with credit cardyes
    �� depositing with wire transferno
    �� demo account providedyes
    ��️ instruments tradedcfds, commodities, metals, oil, gold, indices
    back to top


    Regulation and security


    Octafx operates out of st. Vincent and the grenadines, where registration of octa markets incorporated exists with the financial services authority (SVGFSA). It is important to note that while the FSA is responsible for policing international business companies (ibcs), it does not regulate forex brokers. Therefore, octafx remains effectively unregulated; that in itself does not suggest malpractice or fraudulent activity by this broker. Octafx has expanded its operations since 2011, testament to its trader-friendly operations. In fact, more than 1,500,000 traders trust octafx, which should be taken into consideration when evaluating octafx.


    Negative balance protection, the segregation of client deposits from corporate funds, and compliance with anti-money laundering (AML) directives enhance the security of traders. From this octafx review we can see that this broker does attempt to strike a balance between offering security as an unregulated entity and operating out of a business-friendly jurisdiction that allows it to execute its successful business model.


    Octafx operates out of st. Vincent and the grenadines.


    Negative balance protection exists, ensuring traders cannot lose more than they deposit.


    Client deposits remain segregated from corporate funds.


    Octafx fees


    Octafx charges a combination of spreads, commissions, and swap rates. While the overall cost structure is extremely competitive, it is a bit complicated. To make things easier, we'll simplify it all in this ocatfx review. The MT4 micro account commences with a commission-free 0.4 pips minimum mark-up on the EUR/USD, which ranks among the best available offers in today’s industry. Swap rates apply, and islamic accounts face an equal cost, only labeled differently; the islamic account structure complies with sharia law. While the MT5 pro account continues with a similar minimum pricing environment, the current spread is significantly higher. A fixed three-day fixed cost applies, but no swap rates exist. Then there is the ctrader account, where the current mark-up is lower than in the MT5 but higher than in the MT4. The commission of $3 per lot is outstanding, and a fixed weekly rollover fee applies, again without daily swap rates.


    Octafx does not levy charges for deposits, withdrawals, and currency conversions. No additional costs exist, making octafx one of the least costly brokers to trade with, fulfilling its mission statement of creating a low-cost broker for new traders and professionals alike.


    MT4/MT5 traders can easily access swap rates from their platform by following these steps:



    1. Right-click on the desired symbol in the market watch window and select symbols.

    2. Select the desired currency and then click on properties located on the right side.

    3. Scroll down until you see swap long and swap short.



    The commission-free MT4 account lists a minimum spread of just 0.4 pips.


    The MT5 account comes with a fixed rollover cost which is deducted every three days.


    The ctrader account offers a very competitive commission of $3 per lot, but spreads are higher than in the MT4 alternative.


    Islamic accounts face fixed costs equal to swap rates.


    The overall pricing environment is low, benefiting traders.


    What can I trade


    Octafx offers 28 currency pairs, four commodities, ten index cfds, and three cryptocurrency pairs, traders have limited choices. As far as we could see during this octafx review, the complete availability of assets remains confined to the MT5 account; the MT4 account features fewer assets, and ctrader offers the least. As such, cross-asset diversification is would be difficult, but it's possible to overlook this if you're a new trader and a solid cost structure is important to you.


    Octafx maintains 45 assets in total.


    Account types


    Octafx maintains three account types. The broker claims the MT4 micro is the most common choice and confirms its popularity among new retail traders from emerging and frontier markets. With a minimum deposit of $100, traders have access to 39 assets with a maximum leverage of 1:500. The MT5 pro account offers all 45 trading instruments but requires a $500 deposit, with increased margin requirements. Both choices are commission-free. The commission-based ctrader account is available for just $100. It features the least number of assets with 30, but the maximum leverage is 1:500, unlike 1:200 in the MT5 account. Hedging and scalping face no restrictions in either choice.


    Traders may choose from among three account types.


    Islamic accounts are a cornerstone at octafx and are high in demand. While swap rates do not apply, fixed costs exist.


    Octafx trading platforms


    Traders may choose from the three leading trading platforms in the forex market. The market-favorite MT4, with over 20,000 third-party customized technical indicators and electronic advisors (eas), many free of charge, remains the most flexible version. MT4 maintains its leadership position for automated trading, the fastest-growing sector of the financial system. Traders must invest in necessary upgrades to unlock the complete functionality of MT4 and transform it into a competitive, cutting-edge version. Octafx also offers the MT5 trading platform, which remains the only one where all assets are available for trading. The best out-of-the-box alternative is ctrader, designed for trading via the electronic communications network (ECN).


    All three platforms support automated trading and are available as a desktop client, a webtrader, and a mobile version. Autochartist pro enhances the MT4/MT5 trading platforms, granting traders one of the most widely used automated chart pattern recognition software. Social trading support exists via octafx copytrading, which allows traders without the time to manage their portfolios to diversify across strategies from one user-friendly platform.


    MT4 maintains its leadership position among retail trading platforms.


    Octafx traders who wish to trade all 45 assets must do so on the MT5.


    The ctrader platform offers the best out-of-the-box trading experience.


    Octafx copytrading supports the resurging popularity of social trading.


    Unique features


    There are three unique features worth noting.


    Autochartist pro offers manual traders an excellent automated trading assistant. It is available only to clients who achieve silver status and above. Information about what is required to achieve this status appears to be available only to registered traders from inside their back-office.


    Since 2017, octafx has revamped and improved its educational portal. It is supported via weekly and monthly demo contests, which allows new traders to earn between $500 and $1,000 in real cash, which is then deposited into a live trading account. Traders should enter trading contests at their own risk while understanding they may not win.


    The octafx copytrading platform allows so-called master traders to earn an additional revenue stream from their strategy. It is ideal for those traders with smaller portfolios to leverage their income potential. Professional traders interested in tapping into the social trading scene will also benefit from it. Traders can create multiple master accounts for different strategies, and the freedom to adjust commissions adds to the flexibility.


    Autochartist pro is an excellent trading tool available at octafx.


    Demo contests with real cash prizes appeal to new retail traders.


    Master traders can boost their income potential at octafx via the octafx copytrading platform.


    Research and education


    Octafx grants traders a comprehensive analytics section under trader’s tools. It consists of eleven sub-categories and a user-friendly design. Besides trading signals from autochartist, traders will discover in-house research and market commentary published by octafx under market insights, forex news, and technical analysis. They are updated frequently, consist of written content and charts, and represents a quality addition to the products available at this broker. A quick overview of market-related events exists under the economic calendar, interest rates, and national holidays. The profit and trading calculators allow traders to manage their trading strategy before placing trades. Overall, with the revamped research and education portal, octafx delivers a genuine auxiliary trading service.


    The trader’s tools section features eleven sub-categories, which combine for quality service, especially for new retail traders.


    Octafx updates three sections several times throughout the day, with trading ideas and market commentary.


    Education at octafx consists of nineteen topics under forex basics. They consist of quality written content, charts, and some include numerous videos. While often brief, the content has educational value and offers new retail traders an excellent introduction to trading. The tutorials section focuses on octafx-specific guides, and video tutorials cover MT4/MT5, the personal area of octafx, and octafx copytrading. An FAQ section and a glossary aim to answer the most common questions and introduce terminology. Traders may access the manuals to obtain more specific assistance regarding the three trading platforms, related tools and services, and autochartist. Webinars hosted by octafx complete a well-rounded educational portal.


    Octafx delivers a well-rounded educational portal.


    Webinars add value, and new traders should take advantage of them.


    Customer support


    Customer support is available 24/7 and is best reached via live chat or telegram. A webform is equally accessible, and traders may alternatively call. Octafx ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.


    Bonuses and promotions


    Bonuses and promotions remain an essential part of the octafx strategy, and traders have access to various offers. The 50% withdrawable bonus on each deposit represents an excellent offer for traders to build their portfolio through a series of monthly deposits, while two demo contests award real cash. The trade & win incentive rewards clients for trading activity with various prizes.


    The withdrawable 50% bonus on each deposit represents the best offer at octafx.


    Trade & win is another excellent reward program based on trading volume.


    A four-tier status program grants additional improvements to the trading environment.


    Traders can use the four-week MT4 demo account to win cash.


    Smaller cash prizes await in the one-week ECN demo contest.


    Octafx also hosts a 16 car global trading contest.


    Opening an account


    An online application form processes new accounts, and traders may use their facebook or google account to complete the process. Account verification is mandatory to comply with AML/KYC requirements. A copy of the trader's ID and one proof of residency document will satisfy this final step.


    The account opening process complies with industry standards.


    Deposits and withdrawals


    Octafx supports credit/debit cards, skrill, neteller, and bitcoin. While the selection remains limited, it is suitable for most traders. No deposit or withdrawal fees exist from octafx, but third-party costs may apply. The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet.


    Octafx offers a limited but acceptable choice for payment processing.



    Forex guide for newbies


    Sometimes starting with forex trading might seem overwhelming, but it’s far easier than you think.


    It’s 2020, and you don’t have to visit wall street, call your broker every day and constantly monitor the market to profit. Now a single website can replace a team of people working to earn your money. Let’s begin by answering a few simple questions and get you on the right track.



    1. What is forex?
      Forex another word for foreign exchange. It is where you can profit from the difference in the prices, in other words, price fluctuation. By buying and selling currency pairs among other assets.

    2. What is a broker?
      A broker is a company that gives you access to the forex market. You can start trading with them by registering on their website and opening a trading account.

    3. Do I need to go anywhere?
      No, you don’t need to go anywhere, as everything is done online. You can manage your accounts, open and close new deals all from your mobile phone or a computer. It’s up to you.



    Why join a forex broker?


    Forex is exciting! It’s the world's largest financial market, so you can imagine the potential it has for investors. And, since it became more accessible to users all around the globe, it became an alternative to earning a living for many people.


    If your mind's made up and you think you want to join. Then we want to recommend ourselves to you. Octafx is an award-winning international brokerage. If you choose us as your entry gate to the world of forex trading, you can get the following trading conditions to make your experience a smooth and easy one:


    Fast deposits and withdrawals


    24/5 support from our international team


    Getting started is easy and it doesn’t involve any complicated procedures: simply click OPEN ACCOUNT on our website to register, and a personal area cabinet will be created for you.


    In your personal area cabinet, you can:
    - verify your account to help us make it as secure as possible
    - deposit and withdraw your money
    - open new trading accounts
    - restore passwords
    - manage your bonuses


    Yet, personal area is not all you need to access forex. The real door to trading forex is a trading account, and you can open it upon registration.


    When opening a trading account you will be able to choose:


    Type of account: real or demo


    The demo account will help you learn, or test strategies without having to invest funds!


    The platform and account you want to trade with (MT4 micro, MT5 pro, ctrader)


    Each of them has its own advantages!


    Leverage will help open your desired trades with fewer funds. As the higher the leverage the less required margin you’ll need.


    The currency of your account


    Whether it should be an islamic account or not.


    We offer swap-free accounts that do not charge interest, instead, a fixed fee is applied.


    If you decide to open a real account you’ll need to make a deposit and voila! The doors to the world of forex are open and you can start.


    (please note that both personal area and trading account require different logins and passwords.)


    But wait… HOW do I trade?


    First time trading? Not to worry, you can still avail of all the things we mentioned above, you’ll just need a bit of practice before your start. We’re always here to help you learn, as we believe in educated choices. Try trading tiger academy free of charge - and learn everything about forex regardless of whether you are a beginner or a pro!


    It’s crucial to learn about trading because even if technology makes it simpler, different strategies and trading techniques will help you earn more and risk, less.


    Like we said before, forex is exciting and full of possibilities and octafx is happy to be your guide.



    Octafx – forex broker rating and review 2021


    octafx UK limited website
    status
    regulation octafx is an umbrella brand used by two independent broker entities. Octa markets cyprus ltd is an investment firm registered in cyprus and regulated by the cyprus securities and exchange commission (cysec) using the domain octafx.Eu. This enables users to trade with a broker under european regulatory oversight with enhanced levels of safeguards. The octafx.Com website is registered under octa markets incorporated established in st. Vincent and the grenadines which permits its clients to take advantage of higher leverage and bonus promotions.
    Trading software metatrader 4/5, MT4/5 mobile for android/iphone, ctrader, ctrader WEB, calgo
    headquartered 2 devonshire square, london, england, EC2M 4UJ

    Is octafx scam or legit? Octafx is a trusted global broker that offers a user-friendly platform, and a wide selection of tradable instruments. Octafx acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to their clients.


    The five octafx benefits


    This is why we rank octafx as the best forex broker.



    • Security. They provide you with a prosperous environment by utilizing the tightest spreads in the industry, providing top market conditions and fixed-rated exchange rates (in some cases). Octafx also offers negative balance protection, the industry’s lowest minimum deposit, no slippage or delays, no swaps, maximum leverage of 1:500, and does not make commission from deposits or withdrawals.

    • Convenience. Octafx grants local deposit and withdrawal options. Their customer support speaks your language, so it should come as no surprise that they work with local banks and transfer services that enable you to make deposits and withdrawals seamlessly.

    • Peace of mind. Take comfort in knowing that octafx has won many awards from several forex focused publishers, including an accolade naming them the top broker in asia.

    • Profit potential. Octafx offers some of the most famous and most lucrative contests. Whether it's for ibs, traders, or demo users, people have been winning huge prizes, like brand new cars, just by trading. There are even weekly random drawings for scooters. They provide a standard 50% deposit bonus, which sometimes climbs to 100% during special events or holidays.

    • Rewards. Octafx has two unique programs. A free status program, which unlocks a bevy of benefit like even lower spreads, faster withdrawals, and invitations to VIP events. Additionally, you’re awarded incredible gifts just by trading, like macbooks, and all for free.



    This octafx forex broker review is meant to help guide those unsure of how to navigate the murky forex waters. Should you focus on who has the best forex app or which broker offers the best copy trade platform? When searching for a forex broker that is right for you, you need to consider several factors, like: are they trustworthy and reliable, what are their fees, how is their platform, do they offer mobile trading, how is their customer service, do they have copy trading services. In this case, we will examine octafx. Is octafx a scam? No, absolutely not.


    Octafx has been in the market for years, servicing clients worldwide, but mainly those residing in asia. They're embedded deep within the fabric of society in countries they work with through charitable initiatives. There is not a single forex broker that can claim to be more reliable or trustworthy than octafx.


    Octafx has taken home over 35 awards! Most notably, octafx was named the best forex broker in asia (2020), meaning that they are the best forex broker in india, malaysia, indonesia, pakistan, and elsewhere! To top it off, the best forex app belongs to octafx as well, claiming that award back in 2018 when european CEO magazine bestowed upon them that honor. These awards not only signify their respectability, but they denote an opportunity for potential clients to seek refuge with octafx and earn more.


    Regulation


    Octafx is an umbrella brand used by two independent broker entities. Octa markets cyprus ltd is an investment firm registered in cyprus and regulated by the cyprus securities and exchange commission (cysec) using the domain octafx.Eu. This enables users to trade with a broker under european regulatory oversight with enhanced levels of safeguards. The octafx.Com website is registered under octa markets incorporated established in st. Vincent and the grenadines which permits its clients to take advantage of higher leverage and bonus promotions.


    Octafx mobile app


    A mobile version is available via the app store, free of charge. In 2019, europe CEO magazine awarded octafx for the best mobile trading app.


    The app can used the same way as on desktop. You can modify your leverage, track your contest statistics, make money transfers, activate bonuses, and more. The user interface made the experience fun and easy to maneuver. The app supports nine languages in total.


    Education


    Whether you live in india, indonesia or pakistan, rest assured that octafx has you covered with daily expert trading advice along with educational insight.


    Octafx regularly holds webinars which are beneficial for those new to forex trading and are determined to make a career out of it. While learning on your own is admirable, octafx works with big names in the industry and connects with their base through different mediums.


    Copy trading


    Several platforms offer services allowing newbies to copy professional traders. Octafx’s program works in a similar way. In fact, according to forex-awards octafx is the ‘best copy trading platform 2020’. What makes octafx’s copy trading platform rise above the rest is the care they put into it.


    Of course you can sort through thousands of master traders through the category that appeals to you most and read what they have to say about their trading strategies, but octafx goes a step further. They have in-house experts that closely monitor master trader’s and make sure they’re not engaging in risky trading behavior or misleading copiers.


    Customer service


    Octafx has first-class customer service, something other brokers could boast about. A representative is available to you 24/7 and they speak your language. When you consider how many countries octafx services, then it becomes even more impressive. Peace of mind may be the most underrated benefit, yet when you need an issue resolved, regardless of the time, octafx is there.


    Octafx commissions & spreads


    Octafx offers ultra tight spreads. The quotes at octafx are quoted at up to 5 decimal places and start from as low as zero pips for their ECN accounts. There are no commission charges applicable for trades with octafx.


    Instrument spreads (in pips)



    • EUR/USD minimum 0.4 pips

    • GBP/USD minimum 0.5 pips

    • AUD/USD minimum 0.6 pips

    • USD/CHF minimum 0.4 pips

    • EUR/JPY minimum 0.6 pips

    • GBP/JPY minimum 0.7 pips

    • NZD/USD minimum 0.6 pips


    Octafx trading information


    Octafx — latest reviews and comments 2021


    I have tried to withdraw via visa on octafx which is the payment method used to deposit. It declines and they say I must use either skrill or bitcoin, why I cant I use mastercard then? None of the above is the same as the deposit method anyway? Both skrill and bitcoin platforms are terrible and unusable. I need to get my money out please help.


    Roshel naidoo 1 february, 2021 reply


    And is it absolute that I always have to withdraw with the method of deposit all the time? What if I deposit through my bank card and withdraw through I skrill for certain personally reason and that's the only I can deposit and withdraw would that be impossible?


    Mathew joseph 30 january, 2021 reply


    If I funded my octafx account and I didn't use to trade and maybe I changed my mind and decided I didn't want to trade can I withdraw back my funds without trading?


    Mathew joseph 30 january, 2021 reply


    I used my visa card to deposit money however trying to withdraw funds using the same method and octafx declines the request everytime. Consulted with my bank and nothing was rejected by them. Octafx is unable to give me a reason as to why my funds cannot be returned using the same method that they were deposited. Spoke to multiple consultants regarding this.


    Roshel naidoo 30 january, 2021 reply


    I have a question: after investing with octa, do you need to pay when you want to withdraw your profits and also pay commission to the broker?


    Zee 30 january, 2021 reply


    I tried logging in today and all I got was "this site can't be reached" (www.Octafx.Com). The customer service rep, (who was in malaysia for some reason), said that there was a problem with the platform (I am on the MT4 platform). What is happening and when will it be fixed?


    John bezeredi 27 january, 2021 reply


    Thank you for reaching out and bringing this question to our attention. We're sorry to read you couldn't access our website at the time you posted your review. Unfortunately, we were going through unexpected maintenance on our site, and our team was working on fixing the issue, which was done the following day. It's in working order now, and you can access our website in full.


    We wish to apologize for all the inconveniences that this may have caused you. We understand that it was very uncomfortable for you, our clients, not to access our website for some time. We also want to ensure you that we'll take any necessary actions to prevent this from happening in the future.


    Please don't forget that you can also contact us through our official social media pages. Our team is always there for you, and we'll be happy to update you with the latest or help with any of your questions.


    Octafx 2 february, 2021


    I am deposit in my copy trading wallet 1829/-rs (25.5 USD) via money transfer from IDFC bank to octafx account it was successful sent but in octafx it was got rejected bcoz of not mentioned octafx in beneficiary name I mentioned some other name it was given in octafx. Now where was my amount 25.6 USD how to get that back.


    Shaul hameed mohaideen 17 january, 2021 reply


    Dear shaul hameed mohaideen,


    Thank you for reaching out and sharing your experience with us. We deeply regret that you had trouble depositing your funds. Unfortunately, we couldn't identify you on our system and look into what happened since you didn't provide your trading account number. Please send it to us directly over the live chat on our official website, and we'll be happy to investigate the issue.


    Please don't forget that our team is always here to help, and we're looking forward to hearing from you soon.


    Octafx 22 january, 2021


    I just tried to withdraw my money, it's still in pendimg list from 1 day. They said money is sent & bank is not responding. Today they say, they themselves didn't sent the money and have some problem with them. Please send my money today.


    Pratyush baral 13 january, 2021 reply


    Thank you for reaching out and sharing your feelings with us. We deeply regret that your deposit request took longer than you expected. After looking into your review, we've found that it was processed on january 13, 13:15 server time GMT+2, shortly after this review was published. Consequently, we hope that the issue was completely resolved, but if you have any questions, please contact us anytime.


    Please note that at octafx, withdrawal requests are processed within a couple of hours. In some cases, when our financial department handles a high number of requests, we ask you to allow us extra time to process your request. The holiday season is usually the busiest time of the year, and in light of what we just referred to, we'd like to ask for your understanding, as this may cause slight delays and holdups. Nevertheless, please rest assured that our team is doing its best to ensure that the processing time doesn't exceed 24 hours.


    We also want to encourage you to contact us directly if your payment request is taking longer. Our team is always here to help, and they will be happy to keep you updated on your request's status. So, please don't hesitate to send us a message.


    We'll be happy to hear from you anytime soon.


    Octafx 19 january, 2021


    If I deposit with my local bank, so can I take withdrawal from the same octofx account. Can withdrawal transfer to my skrill account?


    Meet 9 january, 2021 reply


    Thank you for taking the time to contact us and bring this question to our attention.


    Please note that at octafx, your deposit and withdrawal payment methods must match. That said, if you deposit through your local bank, it also should be your withdrawal option. It's an important requirement that follows our customer agreement and AML provisions to provide our clients funds' financial security. Different payment options could be considered in exceptional cases, but regularly, you won't be able to deposit via your local bank and withdraw to your skrill account.


    We hope this fully answers your question. However, if you still have any other feedback, we'll be happy to hear from you directly and assist you with it.


    Octafx 19 january, 2021


    I transferred $10 just for a start but I later discovered the minimum is $50 and I've been demanding for a refund but all to no avail. I've sent my bank statement, receipt but no help coming forth. They keep on saying their financial team can't find it. It's bad. First time first discouragement and disappointment.


    John 7 january, 2021 reply


    Thank you for letting us know about your experience. We're sorry to hear that you had trouble depositing your funds. Unfortunately, you didn't provide your trading account number, and we couldn't identify you on our system. If you could contact us directly and share your octafx account details, we'll be happy to look into what happened and investigate the matter with our finance department.


    Please note that all deposit requests that weren't processed are sent back automatically as refunds. However, if your deposit did not reach your account for whatever reason, we always suggest contacting our team immediately to look up the payment. We also want to point out that you can always find the minimum deposit amount in your personal area when you're creating a deposit request. We strongly encourage you to follow these requirements as it could be crucial in cases like yours and help prevent them from happening.


    We're looking forward to hearing from you soon. And we hope that it won't take much time to receive your funds back.



    Customer agreement


    1. Subject of the agreement



    • 1.1. This client agreement is entered into by octa markets incorporated (hereinafter referred to as “company”) and the client who submitted a registration form at www.Octafx.Com (hereinafter referred to as “client”).

    • 1.2. The company is registered and regulated and governed by the law of saint-vincent and the grenadines. Any legal claims will be a subject of the court hearings. Company’s legal address is suite 305, griffith corporate centre, beachmont, kingstown, st. Vincent and the grenadines.

    • 1.3. The agreement sets forth the relationship between the client and the company including but not limited to: orders’ execution, client policies, payments and/or payouts, claims resolution, fraud prevention, communication and other aspects.

    • 1.4. Any possible arguments between the client and the company will be settled in compliance with the agreement unless stated otherwise.

    • 1.5. By entering into the agreement the client guarantees that he/she is a person of a legal age. In case the client is a legal entity, it guarantees the entity is capable and no other parties are eligible to perform any actions, claims, demands, requests, etc in respect to the client’s trading account.

    • 1.6. All the operations on and with the client’s trading account are performed in full compliance with this agreement unless stated otherwise

    • 1.7. The client has no right to bypass fully or partially his/her obligations by the agreement on the basis that it is a distance contract.


    2. Terms definition



    • 2.1. “access data” denotes all the access logins and passwords related to client’s trading account(s), personal area, or any other data providing access to any other company’s services.

    • 2.2. “ask” denotes the higher price in the quote at which the client may open a “buy” order.

    • 2.3. "autotrading software" - denotes an expert advisor or a cbot, that is, a piece of software which performs trading operations automatically or semi-automatically without interference (or with a partial or occasional interference) of a human.

    • 2.4. “balance” denotes the total of all the closed orders (including deposits and withdrawals) in the client’s trading account at a given time.

    • 2.5. “base currency” denotes the first currency in the currency pair.

    • 2.6. “bid” denotes the lower price in the quote at which the client may open a “sell” order.

    • 2.7. “business day” denotes any day between monday and friday, inclusive, except any official or non-official holidays announced by the company

    • 2.8. “client terminal” denotes metatrader 4, metatrader 5, ctrader or any other software in all its versions, which is used by the client to obtain information of financial markets in real-time, perform different kinds of market analysis and research, perform/open/close/ modify/delete orders, receive notifications from the company.

    • 2.9. “company news page” denotes the section of the company’s website where the news is published.

    • 2.10. “currency of the trading account” denotes the currency that the trading account is denominated in; all the account’s calculations and operations are performed in this currency.

    • 2.11. “currency pair” denotes the object of a transaction based on the change in the value of one currency against the other.

    • 2.12. “client information” denotes any information that the company receives from the client (or in other ways) related to him/her, his /her trading account, etc.

    • 2.13. “dispute” denotes either:

      • 2.13.1. Any argument between the client and the company, where the client has reasons to assume that the company as a result of any action or failure to act breached one or more terms of the agreement; or

      • 2.13.2. Any argument between the client and the company, where the company has reasons to assume that the client as a result of any action or failure to act breached one or more terms of the agreement;



    • 2.14. "energy" — energy denotes spot west texas intermediate crude oil or spot brent crude oil

    • 2.15. “floating profit/loss” denotes current profit/loss on open positions calculated at the current price.

    • 2.16. “force majeure event” denotes any of the following events:

      • 2.16.1. Any act, event or occurrence (including, without limitation, any strike, riot or civil commotion, terrorism, war, act of god, accident, fire, flood, storm, electronic, communication equipment or supplier failure, interruption of power supply, civil unrest, statutory provisions, lock-outs) which, in the company’s reasonable opinion, prevents the company from maintaining an orderly market in one or more of the instruments;

      • 2.16.2. The suspension, liquidation or closure of any market or the abandonment or failure of any event to which the company relates its quotes, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event.



    • 2.17. “free margin” denotes funds in the client’s account, which may be used to open a position. Free margin is calculated in the following way:

      Free margin = equity - required margin.



    • 2.18. “IB” denotes the client whose application for the IB status submitted via the company’s website was approved by the company.

    • 2.19. "index CFD" denotes a contract for difference by reference to the fluctuations in the price of the underlying stock index.

    • 2.20. “indicative quote” denotes a price or a quote at which the company has the right not to accept or execute any orders or perform any modifications to the orders.

    • 2.21. “initial margin” denotes the required margin to open a position. It can be viewed in the trader’s calculator.

    • 2.22. “instruction” denotes an instruction from the client to open/ close a position or to place/modify/delete an order.

    • 2.23. “instrument” denotes any currency pair, metal, energy or index CFD. It can be also referred to as “trading instrument” or “trading tool”

    • 2.24. “leverage” denotes the virtual credit given to the client by the company. E.G., 1:500 leverage means that initial margin for the client will be 500 times less than the transaction size.

    • 2.25. “long position” denotes a buy order, that is, buying the base currency against the quote currency.

    • 2.26. "lot" denotes 100000 units of the base currency, 1000 barrels of crude oil or any other number of contracts or troy oz. Described in the contract specifications.

    • 2.27. “lot size” denotes the number of units of base currency or troy oz. Of metal defined in the contract specifications.

    • 2.28. “margin” denotes the amount of funds required to maintain open positions, as determined in the contract specifications for each instrument.

    • 2.29. “margin level” denotes the percentage equity to required margin ratio. It is calculated in the following way:


      Margin level = (equity /required margin) * 100%.



      Octafx review


      Review


      Octafx, a broker in operation since 2011 out of st. Vincent and the grenadines, serves over 1,500,000 traders from more than 100 countries; they report that order execution exceeded 288,000,000. This market maker deploys a straight-through processing (STP) model and offers traders the choice of the MT4, MT5, and ctrader trading platforms. New retail traders from emerging markets are a primary focus, and generous bonuses fulfill an essential role in growing the client base, with over $2,840,000 in bonus funds paid out to date. Octafx maintains a highly competitive cost structure with a commission-free EUR/USD spread of just 0.4 pips. The broker supports social trading via octafx copytrading and autochartist pro supports manual traders.



      Octafx highlights
      ��️ headquarterUK
      ⚖️ regulationsSEBI
      �� type of brokerECN/STP
      �� minimum deposit$50
      �� maximum leverage1:500
      �� type of platformmetatrader 4, metatrader 5, ctrader
      �� deposit with credit cardyes
      �� depositing with wire transferno
      �� demo account providedyes
      ��️ instruments tradedcfds, commodities, metals, oil, gold, indices
      back to top


      Regulation and security


      Octafx operates out of st. Vincent and the grenadines, where registration of octa markets incorporated exists with the financial services authority (SVGFSA). It is important to note that while the FSA is responsible for policing international business companies (ibcs), it does not regulate forex brokers. Therefore, octafx remains effectively unregulated; that in itself does not suggest malpractice or fraudulent activity by this broker. Octafx has expanded its operations since 2011, testament to its trader-friendly operations. In fact, more than 1,500,000 traders trust octafx, which should be taken into consideration when evaluating octafx.


      Negative balance protection, the segregation of client deposits from corporate funds, and compliance with anti-money laundering (AML) directives enhance the security of traders. From this octafx review we can see that this broker does attempt to strike a balance between offering security as an unregulated entity and operating out of a business-friendly jurisdiction that allows it to execute its successful business model.


      Octafx operates out of st. Vincent and the grenadines.


      Negative balance protection exists, ensuring traders cannot lose more than they deposit.


      Client deposits remain segregated from corporate funds.


      Octafx fees


      Octafx charges a combination of spreads, commissions, and swap rates. While the overall cost structure is extremely competitive, it is a bit complicated. To make things easier, we'll simplify it all in this ocatfx review. The MT4 micro account commences with a commission-free 0.4 pips minimum mark-up on the EUR/USD, which ranks among the best available offers in today’s industry. Swap rates apply, and islamic accounts face an equal cost, only labeled differently; the islamic account structure complies with sharia law. While the MT5 pro account continues with a similar minimum pricing environment, the current spread is significantly higher. A fixed three-day fixed cost applies, but no swap rates exist. Then there is the ctrader account, where the current mark-up is lower than in the MT5 but higher than in the MT4. The commission of $3 per lot is outstanding, and a fixed weekly rollover fee applies, again without daily swap rates.


      Octafx does not levy charges for deposits, withdrawals, and currency conversions. No additional costs exist, making octafx one of the least costly brokers to trade with, fulfilling its mission statement of creating a low-cost broker for new traders and professionals alike.


      MT4/MT5 traders can easily access swap rates from their platform by following these steps:



      1. Right-click on the desired symbol in the market watch window and select symbols.

      2. Select the desired currency and then click on properties located on the right side.

      3. Scroll down until you see swap long and swap short.



      The commission-free MT4 account lists a minimum spread of just 0.4 pips.


      The MT5 account comes with a fixed rollover cost which is deducted every three days.


      The ctrader account offers a very competitive commission of $3 per lot, but spreads are higher than in the MT4 alternative.


      Islamic accounts face fixed costs equal to swap rates.


      The overall pricing environment is low, benefiting traders.


      What can I trade


      Octafx offers 28 currency pairs, four commodities, ten index cfds, and three cryptocurrency pairs, traders have limited choices. As far as we could see during this octafx review, the complete availability of assets remains confined to the MT5 account; the MT4 account features fewer assets, and ctrader offers the least. As such, cross-asset diversification is would be difficult, but it's possible to overlook this if you're a new trader and a solid cost structure is important to you.


      Octafx maintains 45 assets in total.


      Account types


      Octafx maintains three account types. The broker claims the MT4 micro is the most common choice and confirms its popularity among new retail traders from emerging and frontier markets. With a minimum deposit of $100, traders have access to 39 assets with a maximum leverage of 1:500. The MT5 pro account offers all 45 trading instruments but requires a $500 deposit, with increased margin requirements. Both choices are commission-free. The commission-based ctrader account is available for just $100. It features the least number of assets with 30, but the maximum leverage is 1:500, unlike 1:200 in the MT5 account. Hedging and scalping face no restrictions in either choice.


      Traders may choose from among three account types.


      Islamic accounts are a cornerstone at octafx and are high in demand. While swap rates do not apply, fixed costs exist.


      Octafx trading platforms


      Traders may choose from the three leading trading platforms in the forex market. The market-favorite MT4, with over 20,000 third-party customized technical indicators and electronic advisors (eas), many free of charge, remains the most flexible version. MT4 maintains its leadership position for automated trading, the fastest-growing sector of the financial system. Traders must invest in necessary upgrades to unlock the complete functionality of MT4 and transform it into a competitive, cutting-edge version. Octafx also offers the MT5 trading platform, which remains the only one where all assets are available for trading. The best out-of-the-box alternative is ctrader, designed for trading via the electronic communications network (ECN).


      All three platforms support automated trading and are available as a desktop client, a webtrader, and a mobile version. Autochartist pro enhances the MT4/MT5 trading platforms, granting traders one of the most widely used automated chart pattern recognition software. Social trading support exists via octafx copytrading, which allows traders without the time to manage their portfolios to diversify across strategies from one user-friendly platform.


      MT4 maintains its leadership position among retail trading platforms.


      Octafx traders who wish to trade all 45 assets must do so on the MT5.


      The ctrader platform offers the best out-of-the-box trading experience.


      Octafx copytrading supports the resurging popularity of social trading.


      Unique features


      There are three unique features worth noting.


      Autochartist pro offers manual traders an excellent automated trading assistant. It is available only to clients who achieve silver status and above. Information about what is required to achieve this status appears to be available only to registered traders from inside their back-office.


      Since 2017, octafx has revamped and improved its educational portal. It is supported via weekly and monthly demo contests, which allows new traders to earn between $500 and $1,000 in real cash, which is then deposited into a live trading account. Traders should enter trading contests at their own risk while understanding they may not win.


      The octafx copytrading platform allows so-called master traders to earn an additional revenue stream from their strategy. It is ideal for those traders with smaller portfolios to leverage their income potential. Professional traders interested in tapping into the social trading scene will also benefit from it. Traders can create multiple master accounts for different strategies, and the freedom to adjust commissions adds to the flexibility.


      Autochartist pro is an excellent trading tool available at octafx.


      Demo contests with real cash prizes appeal to new retail traders.


      Master traders can boost their income potential at octafx via the octafx copytrading platform.


      Research and education


      Octafx grants traders a comprehensive analytics section under trader’s tools. It consists of eleven sub-categories and a user-friendly design. Besides trading signals from autochartist, traders will discover in-house research and market commentary published by octafx under market insights, forex news, and technical analysis. They are updated frequently, consist of written content and charts, and represents a quality addition to the products available at this broker. A quick overview of market-related events exists under the economic calendar, interest rates, and national holidays. The profit and trading calculators allow traders to manage their trading strategy before placing trades. Overall, with the revamped research and education portal, octafx delivers a genuine auxiliary trading service.


      The trader’s tools section features eleven sub-categories, which combine for quality service, especially for new retail traders.


      Octafx updates three sections several times throughout the day, with trading ideas and market commentary.


      Education at octafx consists of nineteen topics under forex basics. They consist of quality written content, charts, and some include numerous videos. While often brief, the content has educational value and offers new retail traders an excellent introduction to trading. The tutorials section focuses on octafx-specific guides, and video tutorials cover MT4/MT5, the personal area of octafx, and octafx copytrading. An FAQ section and a glossary aim to answer the most common questions and introduce terminology. Traders may access the manuals to obtain more specific assistance regarding the three trading platforms, related tools and services, and autochartist. Webinars hosted by octafx complete a well-rounded educational portal.


      Octafx delivers a well-rounded educational portal.


      Webinars add value, and new traders should take advantage of them.


      Customer support


      Customer support is available 24/7 and is best reached via live chat or telegram. A webform is equally accessible, and traders may alternatively call. Octafx ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.


      Bonuses and promotions


      Bonuses and promotions remain an essential part of the octafx strategy, and traders have access to various offers. The 50% withdrawable bonus on each deposit represents an excellent offer for traders to build their portfolio through a series of monthly deposits, while two demo contests award real cash. The trade & win incentive rewards clients for trading activity with various prizes.


      The withdrawable 50% bonus on each deposit represents the best offer at octafx.


      Trade & win is another excellent reward program based on trading volume.


      A four-tier status program grants additional improvements to the trading environment.


      Traders can use the four-week MT4 demo account to win cash.


      Smaller cash prizes await in the one-week ECN demo contest.


      Octafx also hosts a 16 car global trading contest.


      Opening an account


      An online application form processes new accounts, and traders may use their facebook or google account to complete the process. Account verification is mandatory to comply with AML/KYC requirements. A copy of the trader's ID and one proof of residency document will satisfy this final step.


      The account opening process complies with industry standards.


      Deposits and withdrawals


      Octafx supports credit/debit cards, skrill, neteller, and bitcoin. While the selection remains limited, it is suitable for most traders. No deposit or withdrawal fees exist from octafx, but third-party costs may apply. The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet.


      Octafx offers a limited but acceptable choice for payment processing.





      So, let's see, what was the most valuable thing of this article: reviews for octafx.Com. By traders, for traders. At personal area octafx

      Contents of the article




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