On the MetaTrader platform for Windows Pc, Web (Mac and Windows) & Mobile (Ios and android), as well as their proprietary OctaFX Trading App, OctaFX provides Forex ECN trading as well as CFD trade on indices, metals, and cryptocurrencies.
Cyprus Securities Commission (CySEC) has registered OctaFX.eu as an acceptable domain for Octa Commodities Cyprus Ltd. This allows traders to exchange with a broker regulated by European authorities. Users can take advantage of larger leverage and bonus incentives because the broker’s OctaFX.com site is located in St. Vincent as well as the Grenadines and does not face any European regulation restrictions.
OctaFX platform’s validity is the issue at hand here. The question is whether or not it’s worth your time and money. Is it going to change your life or just be a mistake? It is just a matter of time before we get to the bottom of this mystery!
What is OctaFX?
If you’d rather trade with a CySEC-regulated company like OctaFX.eu or OctaFX.com, which is established as an International Business Company in St. Vincent and indeed the Grenadines, you can do so through OctaFX. Additionally, according to their client agreement on OctaFX.com, Octa Markets Incorporated has been registered and controlled by the Constitution of Saint-Vincent as well as the Grenadines, which can be found on their website.
What Does OctaFX Offers To Their Users?
On top of that, OctaFX.com says on its website that it provides clients with the following additional levels of security:
- Keeping client money separate.
- Providing protection against negative balances.
- Providing an SSL-encrypted personal area with secure withdrawal rules.
- With OctaFX.eu, users can also trade on the Cyprus Security & Exchange Commission-approved domain, controlled by Octa Markets Cyprus Ltd.
OctaFX.eu, according to its website, also guarantees customer protection by:
- Keeping client money separate.
- Providing protection against negative balances.
- Providing an SSL-encrypted personal area & secure withdrawal rules.
- In the event that Octa Market Cyprus Ltd failure to meet its financial responsibilities, Octa Market Cyprus Ltd is a participant of the Investors Compensation Fund (ICF).
How To Get Yourself Registered On OctaFX?
MetaTrader 4 Micro & MetaTrader 5 Pro are the two main trading accounts offered by OctaFX. They also include swap-free and demo trading products, as well as Copy Trading.
OctaFX’s accounts have a wide range of options for novice and experienced traders alike. With OctaFX, traders of all skill levels can benefit from the platform’s unique features.
-Using OctaFX.com’s account comparison tool above, you can see how their three account types differ in terms of the number of commodities that may be traded; the minimum deposits necessary; and the leverage available for different markets.
-OctaFX.com makes it simple to get started trading. It’s as simple as clicking the Open Account link on their site and entering a user’s name, email address, and password.
-In a matter of minutes, consumers are asked which account platform they want to open, along with other options like real/demo, Islamic swap-free institutions, and other features like base currency, leverage, and more.
-Thanks to sudden ESMA (European Services and Markets Association) norms aimed at retail clients, customers who register a profile with OctaFX.eu will have fewer options for leverage and promotions.
-Customers can transfer funds, participate in contests, and open up new accounts in the OctaFX Individual Area after selecting their preferred options.
Is There Any Account Restriction?
Many operations can be carried out from the OctaFX.com Personal Area, such as tracking live and demo accounts, opening new account balances, monitoring contests and special offers as well as copy exchanges. The Personal Area is outstanding.”
OctaFX.com does not appear to have any restrictions about who can establish an account. Although OctaFX.eu is regulated by the CySEC, it does not accept retail clients from the United States, Canada, Belgium, as well as other countries outside the European Union.
OctaFX trading is simple and fast, however withdrawing funds requires additional personal details, as the following section demonstrates.
Which Trading Features Of OctaFX Have Made It A Diverse Trading Forum?
OctaFX provides a wide range of extra trading options, including Copy Trading and indeed the AutoChartist trade and research instrument.
OctaFX users can access to AutoChartist technical indicators, which have a number of advantages for both new and experienced traders, including the following:
- Alerts that are sent out by the system itself
- The most advanced variance analysis tool for optimizing stop-loss and take-profit rates
- On the USD pair, they used their trend forecasting tool
- Recognition of newly-emerging and previously-established chart patterns
Is There Any Commission?
Yes, OctaFX does offer various commissions for the traders. Trading accounts at OctaFX come in two flavors: MT4 Micro and MT5 Pro, each with a unique set of spreads and commissions. Some trading accounts are free of commission, while others have spread as low as 0.2 pips. There are two sorts of commission-based accounts that can be opened, as follows:
MetaTrader 4 Micro Account
Fixed widths starting at 2 pips and floating spreads starting at 0.4 pips are available in this commission-free trading account. MetaTrader 4’s spreads and swap costs for overnight trades are both marked-up in the trading interface.
MetaTrader 5 Pro Account
Customers can trade with drifting spreads as low as 0.2 pips with this account, which is also commission-free. The spreads are inflated, and the broker’s website claims that there are no exchange fees other than the three-day fees mentioned previously.
Does OctaFX Amuse Any Promotional Bonuses?
Since OctaFX.eu is controlled by CySEC, European customers cannot get incentives or promotional offers. However, OctaFX.com customers can take advantage of a variety of bonuses and special offers. There is a chance that these may change with time.
OctaFX.com has the following incentives and promotions available are as follows:
-Increase your contribution by half with a bonus of 50% on deposits.
-Win $1,000 by participating in a demo trading contest for the title of Champion Demo Forex Trader.
How Does OctaFX Has Won The Hearts Of Millions?
Investors have come to trust the forum’s responsiveness and hospitality as a result. OctaFX provides 24/7 customer service in English, Indonesian, Hindi, Chinese, and many more languages. An 87.1 percent improvement over the industry average is reported by ZenDesk for OctaFX’s customer care, with seven-second reaction times and a 96% client satisfaction rate.
Does Octafx Have Any Trader Tools?
Yes, the forum has blessed its traders with a diverse range of trader tools. OctaFX’s website features an outstanding collection of traders’ resources, including the following:
- Market Insights
- Economic Calendar
- Profit Calculator
- Forex News
- Trading Calculator
- Live Quotes Monitoring
- Interest Rates
- National Holidays
The OctaFX.com website makes it simple to find the tools you need, even if you’re using Web Trader or Desktop.
The Provision Of Trading Education For Novice & Experts
OctaFX provides a comprehensive library of documents, videos, and lessons for traders at all levels of experience, from beginners to advanced traders. The setup of the MetaTrader trading systems, as well as information on how to use them and the advanced features of each platform, are all covered in great detail on this website.
The Bottom Line
OctaFX offers a one-of-a-kind combination of brokerage accounts and platform, as well as comprehensive educational resources, that are appropriate for both new and experienced traders. Traders can take advantage of a wide selection of asset classes that are available with leveraged and spread choices, in addition to bonus and special offers.
According to our findings, OctaFX provides a diverse choice of goods that are suited for both beginning and experienced traders. Beginner traders will like the flexibility of the MetaTrader 4 Micro & MetaTrader 5 Pro commission-free trade accounts, which are ideal for those just starting out.
However, while some features, like the AutoChartist signal program, require a higher minimum balance of $500, buyers can get started with lower minimum bank deposits and access some of the world’s most well-known trading platforms, which are simple to download the latest thanks to the broker’s extensive library of instructional materials and videos.
Where is OctaFX located?
Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent, and the Grenadines, is the registered address of OctaFX.
How will traders deposit in the OctaFX account?
All three of these methods have varied minimum deposit amounts that can be deposited for free (Neteller and Skrill minimum deposit is 50 USD).
What is the min. deposit for OctaFX?
Depending on the type of account, you may have to make a smaller deposit to get started. It costs $100 to open a MetaTrader 4 Micro Accounts and $500 to open a MetaTrader 5 Pro Account.
How can you withdraw money from OctaFX?
The Withdraw option is available after logging into your OctaFX Personal Area. Once an account has been validated and the minimum withdrawal amount has been met, withdrawals are free of charge.