OctaFx Review

[FREE] Complete OctaFx Review: Broker Ratings, Pros And Cons.

Octafx Review

Overall Rating

3.5/5
Rated #90+ of Recommended FX Brokers
OctaFx Details
๐Ÿ’ฐMinimum Deposit
$100
๐ŸŒ Regulators
FSA SVG, CySEC
๐Ÿ“ฑ Trading Desk
MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
โ‚ฟ Crypto
Yes
๐Ÿ“ˆ Total Pairs
60+
๐Ÿ“Š Trading Fees
Low
๐Ÿ•’ Account Activation Time
24 Hours
๐Ÿ“ฑ Moble Trading
Yes
๐ŸŒ Web Trading
Yes

OctaFx Review

OctaFX Was Established In 2011. The Companyโ€™s Headquarters Are Located In Saint Vincent And The Grenadines, With An Additional Support Office In Jakarta, Indonesia. The Brokerโ€™s EU Entity, Octa Markets Cyprus Ltd, Is Located In Limassol, Cyprus, And Is Regulated By The CySEC.

With Over 1.5 Million Trading Accounts And A Long List Of Forex Industry Awards, The Founder And Owner Has Ensured The Company Has Amassed A Global Reach

OctaFx Regulation

OctaFX Is Registered In St. Vincent And The Grenadines, Licensed And Regulated By The Financial Services Authority St. Vincent And The Grenadines (FSA SVG). The OctaFX EU Entity Is Regulated By The Cyprus Securities And Exchange Commission (CySEC). They Did Previously Hold On FCA License But Closed Their UK Offices Due To Brexit And Replaced It With The CySEC License.

Client Funds Are Held In Segregated Accounts In Accordance With International Regulation Standards. Keeping Funds Separate From The Company Funds Means That They Cannot Access Them For Any Other Purpose.

OctaFX Offers Negative Balance Protection, So If Your Balance Becomes Negative, They Will Automatically Adjust It To Zero. The Risk Management System Ensures That Clients Cannot Lose More Than They Initially Invested As Risk Is Limited Only To The Funds You Have Deposited Into Your Account.

OctaFx Countries

OctaFX Accepts Clients From All Over The World, Excluding USA Due To Regulatory Restrictions. Some OctaFX Broker Features And Products Mentioned Within This OctaFX Review May Not Be Available To Traders From Specific Countries Due To Legal Restrictions.

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OctaFX Platforms

OctaFX offer a choice of the MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader platforms. These are amongst the most popular platforms available for online trading.

MetaTrader 4

MT4 Is Ideal For New Traders And More Experienced Traders Who Require A Simplistic Yet Sophisticated Platform. It Has An Intuitive User-friendly Interface That Is Easy To Navigate And Fully Customisable.

MT4 Includes Many Built-in Indicators For Technical Analysis And Is Capable Of Running Automated Systems Known As Expert Advisors (EAs). There Are 9 Timeframes To Choose From. Multiple Order Types Are Supported With Real Time Market Execution And There Is Advanced Risk Management Amongst Many Other Useful Features.

MT4 Is The Complete Platform To Get Started Trading Online And Is Available On Desktop (Windows / Mac), Web And Mobile (iPhone / IPad / Android / Tablet).

MetaTrader 5

Mt5 Has A Simple Interface Just Like Its Predecessor With Some New Features That Improve The Overall Experience. There Are More Technical And Fundamental Indicators For Chart Analysis, 21 Timeframes, Graphical Objects, Support For More Order Types, An Economic Calendar And More.

Mt5 Is Available On Desktop (windows / Mac), Web And Mobile (iphone / Ipad / Android / Tablet).

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cTrader

CTrader Provides A Convenient And Feature Rich Environment For More Flexible Trading. It Is Also Highly Customisable And Can Be Adjusted To Cater To Suit The Needs Of Different Traders. Other Benefits Include Level II Quotes, Server Trailing Stop, 26 Timeframes, Cloud Service, Advanced Chart Trading And A FIX API For Trading With Direct Market Access.

CTrader Is Available On Desktop (Windows / Mac), Web And Mobile (iPhone / IPad / Android / Tablet).

OctaFX Account Opening

There Is A Short Online Form To Compete After Which You Will Need To Verify Your Email Address. Following On From That You Need To Email The Accounts Team Proof Of Identification And Residence Such As A Passport Scan And Utility Bill. This Is Completely Normal As Part Of The KYC Procedure. Once The Accounts Team Have Verified Your Details You Will Be Able To Fund Your Account And Start Trading.

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OctaFX Copytrading App

The OctaFX Copytrading App Lets You Conveniently Copy Signals From Hundreds Of Other Traders. The App Interface Is Very User Friendly Making It Easy To Find Signal Providers To Follow Based On Your Customised Filters. You Can Build And Track Your Portfolio At Any Time. There Are Master Accounts For Traders Who Want To Offer Their Strategies As Signals Or For Followers Who Wish To Copy Signals.

OctaFX Deposit & Withdrawal

OctaFX Do No Charge A Commission On Deposit And Withdrawals. They Also Use The Best Exchange Rates Possible. Secure SSL Encryption Helps Make Your Information Confidential And Inaccessible To Third Parties. 3-D Secure Technology Adds An Authentication Step For Protecting Your Online VISA/Mastercard Payments.

Funding Options Include Wire Transfer, Credit Card, Neteller, Skrill, Bitcoin. Bank Transfers May Take A Few Business Days To Clear. Accounts Can Be Opened In USD & EUR. The Different Currency Options Are Beneficial As Currency Conversion Fees Do Not Apply When Using An Account In Your Own Currency.

Summary

OctaFX Provide Very Flexible And Powerful Trading Platforms With Accounts To Suit All Types Of Trader. The Trading Costs Are Very Competitive Whilst Customer Support Is Prompt To Answer Questions. Trading Instruments May Perhaps Be Too Limited For Some Although The Forex Offering Is Probably Adequate For Most Clients Needs.

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