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Octafx Forex Broker Review

OctaFX

Location: St. Vincent and the Grenadines

Regulation: FCA UK

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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

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 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%

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.

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: $5

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 2018 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.  

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