January 26, 2021

Octafx Forex Broker Review

OctaFX

Location: St. Vincent and the Grenadines

Regulation: FCA UK

Octafx Forex Broker Accounts

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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 

Awards Received by OctaFX

Recent awards in forex industry:

Global Banking and Finance has named OctaFX winners of the 'Best Forex Broker Nigeria 2020' award

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

Micro

  • RECOMMENDED FOR: NOVICE TRADER
  • for small investment
  • Spreads - Floating, starting at 0.4 pips Fixed, starting at 2 pips.
  • No сommission, Markup
  • Recommended Deposit - 100 USD
  • 28 currency pairs + gold and silver + 4 indices + 3 cryptocurrencies
  • Leverage Up to 1:500 for currencies 1:200 for metals 1:2 for cryptocurrencies
  • 25% / 15% Margin call/ stop out level

PRO

  • RECOMMENDED FOR:  EXPERIENCED TRADER
  • for lowest spreads and less trading costs
  • Spreads - Floating, starting at 0.2 pips
  • No сommission, Markup
  • Recommended Deposit- 500 USD
  • 28 Currency pairs + 4 metals + 2 energies + 10 indices + 3 cryptocurrencies
  • Leverage Up to 1:200 for currencies, 1:100 for metals and energies, 1:50 for indices, 1:2 for cryptocurrencies
  • 45% / 30% Margin call /Stop out level

ECN

  • RECOMMENDED FOR: PROGRESSIVE TRADER
  • for more transparency in pricing
  • Spreads Floating, starting at 0 pips
  • No markup, Commission
  • Recommended deposit 100 USD
  • 28 currency pairs + gold and silver
  • Leverage Up to 1:500 for currencies 1:200 for metals
  • Margin call/ stop out level 25% / 15%

Octafx Review: Trading Platforms

MetaTrader 4

Metatrader 4 is highly customisable. It includes charting tools, market indicators, scripts and EAs, advanced risk management, real time market execution and more.

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.

The OctaFX Trading App

  • Language support: Bengali, Chinese, English, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai
  • Create trading accounts, modify leverage, enable swap-free options, edit and restore passwords
  • Make deposits and withdrawals using the most popular payment options
  • View your detailed overall or account operation history, apply convenient filters to it and cancel your previous deposit
  • Start trading in a compatible trading platform app
  • Top up your demo account
  • View contest statistics and access your contest accounts
  • Activate bonuses and view statistics on active and completed bonuses

Octafx Review: Trading Conditions

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

Octafx Review: 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

Octafx Review: Promotional Bonuses and Competitions

50%bonus on each deposit

 

  • FREE MARGIN INCREASE
    OPEN HIGHER-VOLUME POSITIONS
  •  
    WITHDRAWABLE
    WITHDRAW BONUS FUNDS
  •  
    AUTOMATIC PAYOUT
    GET YOUR BONUS INSTANTLY AFTER TRADING REQUIRED VOLUME

choose an account type that suits your trading style
  • MICRO
    For small investment
  • PRO
    For lowest spreads and less trading costs
  • ECN
    For more transparency in pricing

MAKE A DEPOSIT IN YOUR ACCOUNT

Add at least $50 to your trading account using any payment option you like.

INCREASE YOUR DEPOSIT BY HALF WITH OUR BONUS

Activate your free 50% bonus on the amount you deposit.

WITHDRAW BONUS FUNDS

  • Privileged conditions for users with higher statuses
  • Keep trading and you’ll be able to withdraw the bonus amount. You’ll need to trade the following number of lots to withdraw your bonus:
  • Standard lot number = Bonus amount in USD divide by 2
Your deposit amount $400
50% bonus we provide $200
Divide your bonus by half $200/2
Number of lots to trade 100 lots

Current Competition: Become the absolute winner and seize one of 16 brand-new vehicles

  • Volkswagen T-ROC
  • Honda Civic
  • Mitsubishi Xpander

How to participate

Start creating a new account—MetaTrader 4—and check that you want it to be your contest account. Or assign your existing account as a contest account in your account list.

Make sure your contest account’s equity excluding bonuses is 50 USD or above to qualify for the upcoming prize drop. If you don’t have enough funds, make a deposit.

Start trading right away or wait for the next drop.

How to win

  • Make the highest possible profit and traded volume with the best profit/loss ratio.
  • Watch your standings—the closer you are to the top in these three categories, the higher your chance to win.
  • When the drop arrives, those whose overall rank is the highest take the prizes.

Octafx Review: Customer Assistance

Customer support: online chat, phone, whatsapp, email 

How was the rating of Octafx performed compared to other brokers? 

This 2021 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.