OctaFX Review - Is OctaFX Legit
OctaFX Review - Is OctaFX Legit
Min. Deposit: $25 HQ: SVG, Cyprus Platforms: MT4, MT5
Leverage: 1:30 / 1:500 Regulation: CySEC
OctaFX Licenses
- Octa Markets Cyprus Ltd – authorized by CySEC (Cyprus) registration no. 372/18
The OctaFX Broker has been providing Forex services since 2011,
💰 Save Money with Cashback.
🎁 Best Offers and Gifts.
💰 100% Deposit Bonus.
💳 Weekly Transfers to your accounts.
👇 How To Get Cashback.?
Benefits
OctaFX Overview
OctaFX Trading Broker is a global online forex broker. They offer a range of financial instruments for trading, including currency pairs, commodities, indices, and CFDs. The founders established the company in 2011, and it has its headquarters in Saint Vincent and the Grenadines.
It offers services to traders around the world, including those in the European Union, Asia, and the Middle East. The Financial Services Authority (FSA) of Saint Vincent and the Grenadines regulates OctaFX. Additionally, the Cyprus Securities and Exchange Commission (CySEC) regulates OctaFX. The OctaFX Broker claims to offer competitive spreads, fast execution, and a variety of educational resources for traders.
| Broker | OctaFX |
|---|---|
| Trading platform: | MT4, МТ5, MultiTerminal, MT4,MT5 Web Platform, Mobile Platforms |
| Accounts: | Demo Account OctaFX MT4 Account ,OctaFX MT5 Account |
| Account currency: | USD, EUR |
| Minimum deposit: | $25 |
| Deposit / Withdrawal: | Tether , Bitcoin, Skrill, Neteller, Perfect Money, VISA and MasterCard, Cryptocurrency |
| Mobile trading: | Octafx trading app, octafx copy trading app |
| Orders execution: | Market execution |
| Trading features: | Cryptocurrency trade available |
Our OctaFX Review
Your capital is at risk.
What Is OctaFX
Since its establishment in 2011, OctaFX has been a prominent name in the Forex trading industry. OctaFX offers many services for traders of all experience levels. Many users recognize it for its easy-to-use platforms and good trading conditions.
The Cyprus Securities and Exchange Commission (CySEC) regulates OctaFX. They also registered it in St. Vincent and the Grenadines (SVG). This dual regulation ensures both credibility and flexibility, catering to traders from around the globe.
Key Features of OctaFX
- MetaTrader Platforms
- OctaFX provides the renowned MetaTrader 4 and MetaTrader 5 platforms, delivering a straightforward and cost-effective trading experience. These platforms feature advanced charting tools, technical indicators, and automated trading capabilities.
- Social Copy-Trading
- OctaFX has a social copy-trading platform. This lets beginners follow and copy the strategies of successful traders.
- Wide Range of Instruments
- OctaFX allows trading in Forex, CFDs on indices, commodities, and crypto currencies. This makes it a flexible broker for different trading needs.
- Competitive Costs
- OctaFX offers low spreads and no commissions on deposits or withdrawals. It also provides free educational resources. This makes OctaFX a budget-friendly choice for traders.
Why Choose OctaFX?
As one of the leading online Forex and CFD brokers, millions of traders worldwide trust OctaFX. Its regulated status and new tools make it a good choice. It focuses on value. This is ideal for anyone wanting to explore the financial markets.
OctaFX Pros and Cons
| Pros | Cons |
|---|---|
| Minimum deposit of $25 To start trading. | Phone support not available 24/7 |
| OctaFX copy trade for those who don't know how to trade. | VPS Services not available. |
| Awards winning broker | Not available to US customers |
| No commission or extra charges on deposits and withdrawals | |
| Multiple trading platforms: MT4, MT5, Web-platform, mobile platform. | |
| No swaps fee for Islamic countries. | |
| Flexible bonus conditions for octafx traders | |
| Instant deposit and withdraw | |
| Instant Execution | |
| Forex 35, Metals, Indices, cryptocurrencies, Energies, Stocks. |
Your capital is at risk.
Is OctaFX Legit Or Scam?
No, OctaFX Trading Forex Broker is not a scam. A legitimate broker authorized by the Financial Sector Conduct Authority (FSCA) in South Africa exists.
OctaFX follows strict rules and laws in the countries it operates. This helps create a safe trading environment for its clients. The broker is well-known for offering low-risk Forex and CFDs trading opportunities.
Why OctaFX is a Legitimate Broker
Established in 2011, OctaFX has built a strong reputation in the global financial markets. It provides reliable trading services to millions of clients worldwide. The broker is immensely popular in Asia. It has many users in countries like Indonesia, India, Malaysia, and Pakistan.
Many traders recognize OctaFX for its low spreads and easy-to-use platforms. It focuses on customer needs, making it a top choice for new and experienced traders.
When considering a Forex broker, evaluating their regulatory status, transparency, and client reviews is essential. OctaFX meets these criteria, proving its credibility and reliability in the trading industry.
OctaFX Account Types
OctaFX, a popular forex trading broker, offers two main account types: OctaFX MT4 and OctaFX MT5. Each account designer creates options to fit different trading styles and skill levels. This offers various trading conditions and platform features.
OctaFX MT5 Account
Experts recommend the MT5 account for advanced traders, particularly those interested in trading stocks. It offers better trading conditions. Floating spreads start from 0.6 pips. This makes it a great choice for traders who want good prices.
Features of the OctaFX MT5 account include:
- 35 Forex currency pairs
- Gold, silver, and energies
- Indices and stocks
- 30 crypto currencies
This account provides a wide variety of tools. It is perfect for those who want to diversify and use advanced tools for analysis and trading.
OctaFX MT4 Account
The designers created the MT4 account for beginners and traders who prefer simplicity. A low minimum deposit of $25 is a great starting point for new traders.
Features of the OctaFX MT4 account include:
- 35 Forex currency pairs
- Gold, silver, and energies
- Indices
- 30 crypto currencies
The MT4 platform is well-known for its easy-to-use interface and important trading tools. This makes it a good choice for new traders in the forex market.
Conclusion
Both account types offered by OctaFX cater to different trading preferences and goals. Whether you are an experienced trader or a beginner, OctaFX has what you need.
For advanced features, choose the MT5 account. If you prefer simplicity, go for the MT4 account. OctaFX provides the tools and instruments to help you succeed in trading.
| Features | MT4 | MT5 |
|---|---|---|
| Starting Spreads | 0.6 pips | 0.6 pips |
| LEVERAGE | 1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies | 1:500 for currencies (1:100 for ZARJPY) 1:200 for metals 1:100 for energies 1:50 for indices 1:25 for cryptocurrencies 1:20 for stocks |
| Account Currencies | USD, EUR | USD, EUR |
| Comission | $0 | $0 |
| Minimum Deposit | $25 | $25 |
| Min Lot Size | 0.01 | 0.01 |
| Swap | Swap Free/Islamic Account | Swap Free/Islamic Account |
| Demo Account | YES | YES |
| Trading Instruments | 35 currency pairs + gold and silver + 3 energies + 4 indices + 30 cryptocurrencies | 35 currency pairs + gold and silver + 3 energies + 10 indices + 30 cryptocurrencies + 150 stocks |
| TRADING ON STOCKS | NO | YES |
| Copy Trading | YES | YES |
Spreads/Commission in Forex
In Forex trading, spreads and commissions are very important. They affect how profitable your trades will be. OctaFX, a renowned broker in the industry, offers competitive trading conditions with its low spreads and minimal commission structures.
Live Averaged Spreads of OctaFX Accounts
OctaFX provides floating spreads, with the average spread starting as low as 0.06 pips. This ultra-tight spread makes OctaFX stand out, especially for traders who prioritize cost efficiency. Whether you trade major pairs like EUR/USD or other popular options, the broker keeps trading costs low. This gives traders an advantage in the market.
OctaFX Commissions
OctaFX primarily operates with a commission-free model on its standard accounts. Instead, the broker relies on spreads to generate revenue, which is a favorable option for many traders. For traders using ECN accounts, costs are competitive. This offers great value for high-frequency traders and scalpers.
Why Choose OctaFX for Low-Cost Trading?
- Industry-Leading Spreads: Compared to many brokers in the Forex space, OctaFX provides some of the best spreads, ensuring lower trading costs.
- No Hidden Fees: With a transparent fee structure, traders can calculate their costs with precision.
- Enhanced Profitability: Low spreads directly translate into higher potential profitability for traders, especially during volatile market conditions.
Octafx spread live mt4/mt5 accounts
OctaFX Minimum Deposits & Withdrawals
OctaFX provides various payment options, with limits for minimum deposits flexible enough to cater to traders’ requirements.
- Bitcoin: Deposit 0.00037 BTC, withdraw 0.00009 BTC.
- Bank Card: Deposit $50, withdraw $10.
- Skrill/Neteller: Deposit $50, withdraw $5.
- PerfectMoney: Deposit $25, withdraw $5.
- Tether (USDT TRC-20/ERC-20): Deposit $50, withdraw $20.
- Dogecoin: Deposit 230 DOGE, withdraw 75 DOGE.
- Litecoin: Deposit 0.3 LTC, withdraw 0.11 LTC.
OctaFX provides low withdrawal limits and quick processing, making fund management convenient for traders worldwide.
OctaFX Minimum Deposit
OctaFX Minimum Withdrawal
OctaFX Copy Trading
Octa Markets Incorporated is a well-known forex trading platform. It offers a new way to trade with its copy trading feature. With their mobile trading apps, users can easily copy the trades of experienced traders. This allows them to profit from the same strategies and techniques.
Copy trading with OctaFX is simple.
- All you need to do is select a trader to follow.
- Allocate a portion of your funds.
- Let the platform do the rest.
The platform copies the trader’s trades in real-time. This way, you never miss a chance to make a profit.
Copy trading with OctaFX is perfect for beginners who are just starting with forex trading. By following experienced traders, you can learn the ropes of the market and develop your own trading skills. Meanwhile, experienced traders can use the platform to share their knowledge and expertise with others while earning additional income.
Overall, OctaFX’s copy trading feature is a game-changer for the forex trading industry. With its ease of use and accessibility, anyone can now participate in the exciting world of forex trading. Mobile trading apps make it even easier to access markets and potentially earn significant profits.
OctaFX Fee
OctaFX, a leading trading broker, prides itself on offering a fee-free experience for its clients. According to OctaFX, they never charge commissions, ensuring a transparent and cost-effective trading environment. This makes it an attractive choice for traders looking to maximize their profits without worrying about hidden fees.
One of the best things about OctaFX is its promise of good currency conversion rates. This applies to both deposits and withdrawals. This ensures that traders get the most value out of their funds when transferring money in and out of their trading accounts.
OctaFX helps its clients by removing commissions and hidden fees. This allows them to focus on trading without worrying about extra costs. Whether you are a new or an experienced trader, OctaFX’s no-fee policy is a significant advantage today.
For those seeking a cost-efficient and transparent broker, OctaFX sets itself apart by prioritizing its clients’ financial interests.
OctaFX, a well-known forex broker, caters to traders with multiple platform options tailored to various needs. Whether you like strong tools for deeply analyzing or an easy-to-use web interface, OctaFX has what you need. Here’s a breakdown of their offerings:
1. MetaTrader 4 (MT4)
- Compatibility: Windows, Mac
- Highlights: MT4 is a favorite among traders. People know it for its strong features. These include advanced charting tools, many technical indicators, and automated trading with Expert Advisors (EAs).
2. MetaTrader 5 (MT5)
- Compatibility: Windows, Mac
- Highlights: MT5 is an upgrade to MT4. It offers more timeframes and a wider range of indicators. You also get access to more financial instruments. Perfect for traders seeking flexibility and comprehensive market analytical tools.
3. OctaFX Web Platform
- Compatibility: Any device with a browser
- Highlights: Ideal for traders on the go, this platform requires no downloads or installations. It provides seamless access to trading directly through your web browser, ensuring convenience without sacrificing performance.
Why Choose OctaFX Trading Platforms?
The designers create OctaFX platforms to suit traders of all skill levels, from beginners to seasoned professionals. With the reliability of MetaTrader and the flexibility of the web platform, traders can have a smooth trading experience. They tailor this experience to their preferences.
Ready to explore? Choose the platform that fits your style and start trading with OctaFX today!
Your capital is at risk.
How to open octaFX account
2. Enter your name, email and add your password. Agree you are not a US citizen or resident. then click on Open Account.
3. After click on open account you will get confirmation mail on entered email address. open that mail and press Confirm.
4. Here you need to fill out your personal information like your country, phone no, and date of birth. make sure you have entered the correct details. because when you will upload your document for KYC. it will be checked.
5. Now you can select here your account OctaFX mt4/ OctaFX mt5. set your leverage according to your trading strategy. and press the continue button. now you are in the OctaFX personal area.
6. Now you are in octaFX personal area dashboard. now you have access to upload your documents for KYC. you will find your name on the right top.
There is no verified badge. press on the setting icon and go to your details.
7. Here you will get your Verification status is unverified. press on unverified and upload your documents.
After uploading the document, wait for the verification process. You will receive a confirmation email. Now you can check the verified badge under your name on the top right. now you can deposit and trade with OctaFX.
Your capital is at risk.
OctaFX Tools
OctaFX Margin Calculator
If you’re a forex trader, you already know that calculating margin is an important part of risk management. Margin is the amount of money required to open a new position. It is typically expressed as a percentage of the trade size. “It’s important to calculate the margin before opening a new trade.”
OctaFX offers a powerful margin calculator that makes it easy to calculate the margin for any forex trade. Here are some of the key features of the OctaFX margin calculator:
- Easy to Use: The OctaFX margin calculator is simple and intuitive to use. “Just enter” the currency pair you want to trade, the trade size, and the leverage. The calculator will “automatically calculate” the required margin.
- Accurate Calculations: The margin calculator takes into account three important factors to calculate the required margin. These include the current exchange rate, the size of the trade, and the leverage. This ensures that your margin calculations are accurate and reliable.
- Multiple Account Types: OctaFX offers multiple account types, each with different margin requirements. The margin calculator considers the type of account you choose. This helps make sure your margin calculations are correct.
- “Real-Time Updates”: The margin calculator updates in real time. This allows you to quickly and easily calculate the margin for any forex trade.
Using the OctaFX margin calculator is simple. Here’s how to use it:
- Go to the OctaFX website and click on the “Margin Calculator” link.
- Select the currency pair you want to trade from the drop-down menu.
- Enter the trade size in lots.
- Select the leverage you want to use.
- Click on the “Calculate” button.
The margin calculator will then display the required margin for your trade. You can use this information to ensure that you have enough funds in your account to cover potential losses.
In conclusion, the OctaFX margin calculator is an essential tool for any forex trader. It’s easy to use, accurate, and provides real-time updates. “Using the margin calculator helps you make sure you have enough money in your account to cover possible losses.”
“This way, you can trade with confidence.”
