Updated Review of OctaFX Forex Broker
Reviewed broker: OctaFX
Established in 2011
Location: St. Vincent and the Grenadines
Operating under: Octa Markets Inc. (St. Vincent and the Grenadines)
Regulation: FCA UK, CySEC
ECN / STP: yes
Trading instruments: Forex, commodities, indices, CFD, Crypto including Bitcoin
Why Choose OctaFX Forex Broker?
LOWEST SPREADS IN THE INDUSTRY
BUY/SELL FOR THE PRICE YOU SEE WITH THE FASTEST EXECUTION
PAY NO SWAPS ON ORDERS HELD OVERNIGHT
97,5% OF ORDERS EXECUTED WITHOUT SLIPPAGE
ORDER PROFIT 30 PIPS +900$
NO COMMISSIONS ON DEPOSIT AND WITHDRAWAL
Open Trading Account with Octafx Now
Awards Received by OctaFX
Recent awards in forex industry:
Best ECN Broker and Best Islamic FX Account for 2020 by World Finance
BEST FOREX ECN BROKER 2017 FROM UK FOREX AWARDS
MOST TRANSPARENT BROKER 2017 FROM EUROPEAN CEO MAGAZINE
Best Trading Conditions 2016 by Forex Report Magazine
Most Transparent Broker 2016 by European CEO Magazine
Best STP Broker 2016 by Forex Report Magazine
ACCOUNT TYPES COMPARISON
Trading Platforms
MetaTrader 4
THE MOST POPULAR FOREX TRADING PLATFORM
Metatrader 4 (MT4) provides robust technology and high security to enable traders to choose Forex or CFD positions without worrying about the stability of the platform. It offers instruments to follow price fluctuations, identify trend patterns through charts and graphs, and also deploy automated trading techniques to manage trades.
EASIER TRADING WITH METATRADER 4
- Flexibility: There are several choices of currency pairs to trade in, as well as cryptocurrencies and CFDs.
- User-friendly: MT4 has a user-friendly interface that is suitable for traders of all levels.
- Customisation: Develop your own Expert Advisors (EAs) and technical indicators on Metatrader 4, to match your trading needs and practices. Windows and charts can be arranged for each profile according to your preferences.
- Efficiency: MT4 doesn’t slow down the performance of your PC or mobile, keeping disruption to a minimum.
- Charting tools: Advanced charting tools help analyze the technical aspects of the market.
- Expert Advisors: Trading robots enable the automation of trades and access to the platform’s algorithmic trading benefits.
- Language: The platform is available in multiple languages.
METATRADER 4: СHARTING TOOLS FOR TECHNICAL ANALYSIS
Metatrader 4 offers advanced charting capabilities to determine entry and exit points with technical analysis, which uses historical price and volume data to help make predictions. It’s also possible to send trading orders straight from the chart.
METATRADER 4 AUTOMATED TRADING
The MT4 platform allows automated trading. A trader can develop his own set of rules for trade entries and exits with the help of automated trading robots (Expert Advisors), which helps avoid instinctual blunders while trading.
FREE METATRADER 4 DEMO ACCOUNT FROM OCTAFX WITH UNLIMITED ACCESS
TRADING CRYPTOCURRENCIES ON METATRADER 4
cTrader Platform
cTrader is a relatively new platform that provides traders with new features and user-friendly interface. cTrader offers innovative Direct Market Access brokerage capabilities.
Trading Conditions of the Octafx
Demo account: yes
Interbank liquidity: yes
Educational material: Market news and research, convenient economic calendar
Islamic swap-free accounts: available
Spreads start from 1.1 pips
ECN spreads start from 0.2 pips plus $6 commission per standard lot
Maximum leverage is up to 1:500
Minimum trade size: 0.01 lot
Scaling: allowed
Hedging: allowed
Expert advisors: allowed
Copy Trading: yes
Open Trading Account with Octafx Now
Payment Options for Deposits and Withdrawals
Payment methods: Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay
Minimum deposit requirement: $50
Promotional Bonuses and Competitions
Promotions and bonuses: 50% bonus one each deposit, demo trading contests
Type – Demo-contest
Duration – 4 week
Contest dates: Each month. Dates of each round are announced on the contest page
Trading platform – MT4
Prize fund: $1000
1st - $500, 2nd - $300, 3rd - $100, Last place gets $100 consolation prize.
To participate: You should sign up or log in to your Personal Area on OctaFX, then open a new Champion contest account.
How to win: The participant with the highest balance wins the contest.
Available to: All traders
Registration: Registration for each contest is announced prior to its start. Registration for the next round begins at the same time the current round starts. You can not register to join the current round, just the next one.
Withdrawal: The prize is paid into the client's real account at OctaFX and can be withdrawn. In case prize funds are used for real trading, the withdrawal limit is 300% of the prize funds (including both the prize funds and profit).
Other conditions: All trading techniques or EAs (robot trading) are allowed. But any kind of arbitrage trading or any other abuse with pricing and/or quotes will be subject to disqualification from the contest.
сTrader Weekly Demo Contest
Type – Demo-contest
Duration – 1 week
Contest dates: Once every two weeks. Dates of each round are announced on the contest page
Trading platform – cTrader
Prize fund: $400
1st - $150, 2nd - $100, 3rd - $75, 4th - $50, 5th- $25.
To participate: You should sign up or log in to your Personal Area on OctaFX, then open a new сTrader weekly contest account.
How to win: The participant with the highest balance wins the contest.
Available to: All traders
Registration: Registration for each contest is announced prior to its start. Registration for the next round begins at the same time the current round starts. The registration period is two weeks. You can not register to join the current round, just the next one.
Withdrawal: The prize is paid into the client's real account at OctaFX and can be withdrawn.
Other conditions: All trading techniques or EAs (robot trading) are allowed. But any kind of arbitrage trading or any other abuse with pricing and/or quotes will be subject to disqualification from the contest.
Customer Assistance
Customer support: online chat, phone, whatsapp, email
How was the rating of Octafx performed compared to other brokers?
This 2020 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Octafx FX broker performance and features.
Overall our online Octafx review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Octafx or you find inaccurate details Octafx broker review please get in touch with us and the changes will be applied.