Latest updates for OctaFX 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
Awards Received by OctaFX
Recent awards in forex industry:
Octafx broker is still in the first financial quarter, yet the 2021 awards continue to roll in. The leading online and print magazine Global Banking and Finance Review decorated Octafx in the ‘Best Forex Broker Asia’ segment.
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
‘Most Transparent Broker’ award for 2020
- Fx Daily Info Best ECN/STP Broker 2019
- Fx Daily Info Best Forex Broker Asia 2019
- Global Banking and Finance Review Best Forex Broker Asia 2018
- European CEO Magazine Best FX Broker 2018
- European CEO Magazine Best Trading Conditions 2018
- Forex Awards Best Copy trading Platform 2018
- Forex Awards Best Trades Execution 2017
- European CEO magazine Best Trading Conditions 2017
- UK Forex awards Best Forex ECN Broker 2017
- European CEO magazine Most Transparent Broker 2017
- Forex Report Magazine Best Trading Conditions 2016
- FX Empire Best International Broker 2015
- Forex Traders Best Islamic Account Forex Broker 2015
- European CEO magazine Best STP Broker 2015
- FX Empire Most Reliable Broker 2014
- Global Banking and Finance Review Best ECN Broker Asia 2014
- World Finance magazine Best Broker Central Asia
- Global Banking and Finance Review Fastest Growing Micro Forex Broker 2012
Account Types Comparison
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.
Octafx Review: Trading Platforms
OctaFX is primarily a MetaTrader broker, offering the suite of platforms from MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). cTrader, including the cAlgo platform, is also available.
Copy Trading: OctaFX offers a web interface for copy trading (providers are known as Masters) that connects to its MetaTrader 4 (MT4) platform offering. Overall, OctaFX’s copy trading experience lacks a community-feel, which is an attribute the best copy trading brokers all share.
From over 3340 systems available on OctaFX’s copy trading offering, 630 providers were profitable in the last three months or about 18% of all strategies. Overall, I found the layout useful, although I would like to see more performance statistics incorporated to help traders differentiate from among the Masters (providers of each strategy).
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
Metatrader 5
MetaTrader 5 is one of the most popular trades on one of the most popular platforms in the world. MT 5 is the world’s number one multi-asset platform provider of futures, forex, CFD, exchange-traded instrument trading. Investors choose MT 5 as the best investment platform. This market has a large number of customers because this platform is very easy to use. MT5 includes Level 2 Pricing, Robotic System Trading, Higher Chatting, VPS Support, Education Market. There is also the ability to provide free market data and news. The MT5 can also be said to be an automated trading option.
You can use the MetaTrader Supreme Edition platform to improve your business because the most advanced tools are applied here. We believe it improves the customer’s business experience. You can try using live and free demo accounts to enjoy this platform. OctaFX MT5 and MT4 have powerful global widgets for feedback. This widget improves forex trading performance. MetaTrader 4 and MetaTrader 5 play a major role in rapid order reversal and hedging promotion.
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.
Web trader/charting and analysis
WebTrader is a popular and convenient trading platform like MT4 and MT5. This trade allows traders to trade through browsers from anywhere. You can trade securely at any time in web trader. No download is required to get started. Works very fast without any OS choice. User-Friendly (easy to use) can be done on the OctaFX platform. Web Trade is much more advanced. web trader works much faster.
Mobile trading:
MT4/5 and cTrader is one of the top software on the Android platform on mobile. It has been designed by OctaFX Markets for traders in a way that is easily accessible on mobile. OctaFX clients allow them to access trading on any Android device. Being mobile-friendly, it offers many benefits to clients or merchants. OctaFX customers may not be able to place orders using mobile devices, where they will be able to perform basic technical analysis on the full chart. Customers will be able to do Candlestick, Line Chart, Bar Chart, Tick Chart using Excel on mobile.
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 Trading Conditions
With no commissions and no fixed fees, OctaFX derives its revenue from the spread on the various asset types it offers. Even with this ECN/STP broker model, the spreads on currencies and other assets are extremely competitive and are on par with many online trading platforms.
There are swaps on the Micro account, but the Pro account charges a 3-day fee on swaps and the ECN account has a weekend fee for trades that are executed outside of normal trading hours. With the exception of the ECN account, the other account types offer free rollovers.
Apart from trading costs, one area where OctaFX really stands out is the absence of fees for its speedy deposits and withdrawals.
OctaFX offers over 40 different instruments to trade, including over 28 currency pairs.
OctaFX allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. OctaFX allows you to execute a maximum trade of 10 Lot. As OctaFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
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
OctaFX’s minimum spread for trading EUR/USD is 0.4 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with OctaFX vs. similar brokers.
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
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FREE MARGIN INCREASEOPEN HIGHER-VOLUME POSITIONS
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WITHDRAWABLEWITHDRAW BONUS FUNDS
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AUTOMATIC PAYOUTGET YOUR BONUS INSTANTLY AFTER TRADING REQUIRED VOLUME
MAKE A DEPOSIT IN YOUR ACCOUNT
INCREASE YOUR DEPOSIT BY HALF WITH OUR BONUS
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 and Educational Material
Customer support: online chat, phone, whatsapp, email
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.
FAQs
Is OctaFX trusted?
As a Forex broker that has been in business for many years and one that maintains good TrustPilot ratings, we would like to suggest that OctaFX is a trustworthy broker.
Is OctaFX regulated?
The international division remains unregulated; FCA regulation is no longer present, but the European subsidiary operates under CySEC oversight.
Is OctaFX legal in India?
Yes, OctaFX is an excellent broker for Forex traders based in India, as they have SEBI regulation. The company's SEBI Registration No. is INZ000294138 dated 17/03/2020.
What is the minimum deposit for OctaFX?
The minimum is $5, but the minimum amount to open an account is between $100 and $500.
Does OctaFX have NASDAQ?
Yes, a NASDAQ 100 CFD is available in an otherwise remarkably limited asset selection.
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.