OctaFX
OCTAFX
- Online Since 2011
- Spread From 0.2 Pips
- Leverage Up to 1:500
- 5 Digit (5 Decimal Pricing)
- MetaTrader 4
- Regulation: FSA (Saint Vincent and the Grenadines), CySEC
- Scalping, Hedging, EA Robot, News Trading allowed
- Free Swap & Commission
- Payment options : Credit Cards, Wire, Neteller, Skrill MoneyBookers, Local Bank for Indonesian.
Details
| Broker | OCTAFX |
|---|---|
| Website URL | www.octafx.com |
| Founded | 2011 |
| Headquarters | Vincent and the Grenadines, VC0100, OctaFX UK in London, UK. |
| Support Types | Phone , E-mail , Live Chat , Whatsapp |
| Trading Platform | MetaTrader, cTrader |
| Minimum 1st Deposit | $5 |
| Minimum Account Size | $5 |
| Minimum Trade Amount | 0.01 Lot |
| Bonus | 50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. |
| Leverage | 500:1 |
| Spread | From 0.2 Pips |
| Free Demo Account |
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| Regulated |
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| Regulation | FSA (Saint Vincent and the Grenadines), CySEC |
| Deposit Methods | Credit Cards , Wire Transfer , Neteller , Skrill MoneyBookers , Local Bank for Indonesian |
| Withdrawal Methods | Credit Cards , Wire Transfer , Neteller , Skrill MoneyBookers , Local Bank for Indonesian |
| US Traders Allowed |  |
| Mobile Trading |
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| Tablet Trading |
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| Overall Score | 9.679 |
Why Must Trade in OctaFX Forex Broker ?
- Online Since 2011
- Spread From 0.2 Pips
- Leverage Up to 1:500
- 5 Digit (5 Decimal Pricing)
- MetaTrader 4, MT5 and cTrader Platform
- Copy Trading
- Regulation: FSA (Saint Vincent and the Grenadines), CySEC
- Scalping, Hedging, EA Robot, News Trading allowed
- Free Swap & Commission
- No Re-Quotes, Tight spreads, and Fast execution
- Real Contest Supercharged 2: 1st prize BMW X5 M, 2nd prize Lexus GS-F, 3rd prize Honda Civic Type R
- Payment options : Credit Cards, Wire, Neteller, Skrill MoneyBookers, Fasapay, Local Bank for Indonesian.
Click Here to Open Account OCTAFX
Review of OCTAFX
OctaFX is a brokerage firm that has been operational for over 7 years. It is based in St.Vincent and the Grenadines in the island of the Caribbean and offers both the cTrader and the MetaTrader platforms. OctaFX has customers in over 100 different countries. OctaFX seems to be regulated by the FCA although they fail to mention its FCA regulatory status on their website. Nevertheless, traders from the US are barred from using the account due to the ongoing NFA and CFTC guidelines. Here is a full review of the website.
Payment and withdrawals
OctaFX supports a wide variety of payment options in local currencies for traders in over 100 different countries. They have a minimum deposit of 5 USD which is available through local banks or credit cards. You can also deposit a minimum of 50 USD for online payment processes like Neteller and Skrill Moneybookers. They claim to have a 50 per cent bonus on initial deposits. There are however a set of conditions that you must adhere to in order to get the bonus. While this 50% bonus may increase you accounts equity, we strongly advise traders not to engage in the bonus before they meet the bonus terms and conditions. The website has had numerous complaints from traders who weren’t able to process payments due to the strict terms and conditions.
Trading platforms available
OctaFX offers two main trading platforms that can be easily accessed from the computer or a mobile device. First OctaFX can be accessed through the highly popular MetaTrader series of forex platforms. They have used the MT4 for quite some time now with plans for the MT5 platform now underway. The MT4 platform is available on iPhone, Android, or any other windows compliant device. The company also uses the all-new cTrader platform which is considered as the new standard in forex trading. The platform’s access is similar to MT4 and can be accessed using any windows, android or IOS device. All these platforms come with the latest 128-bit SSL protection that ensures trading sessions, personalized data, and bank details are safely secured from the hacking community.
Fees and commission
The fees and commission of OctaFX vary depending on the type of account. The website offers three main types of accounts: the cTrader ECN account, the MT4 micro, and the MT5 pro. The MT4 micro is mainly for start-up traders or those with small investments. It includes 28 currency pairs, two metals (gold and silver), 4 indices, and 3 cryptocurrencies. The floating spreads start at 0.4 pips while the fixed spreads start at 2 pips furthermore, the minimum recommended deposit is 100 USD. The MT5 pro, on the other hand, is for the experienced traders. This account type offers the lowest spreads and less trading costs. With the MT5 pro, you can trade in 28 different currency pairs, 4 metals, 2 energies, 10 indices, and 3 cryptocurrencies. The floating spreads start at 0.2 pips. The minimum recommended deposit is 500 USD. The cTrader is more limited in product range compared to the other two accounts. The account offers 28 different currency pairs as well as two metals.
Research tools
OctaFX has a variety of research tools under its trader’s tools section. Some the research tools include the autochartist, the daily analysis posts, and the economic calendar. The firm also produces video content like beginner trading video posts on YouTube as well as several educational content and archived webinars.
Customer support
OctFX has a customer support service available in English, Indonesian, Chinese, Spanish, Malaysian, and Thai Their support methods include a live chat, email, phone, and a callback. They are accessible during business days and claim to handle over 200 queries in a day.
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