OctaFX | Review | CFD Trading Platform Review

Our Review

OCTAFX

Find all you need to know about OCTAFX Trading Platform.

 

Topics

What is OctaFX

10 Points Summary

Awards

OctaFX is safe or a scam?

How Protected You Are?

Leverage

Account

Trading Instrument

Fees

Deposit & Withdrawal Methods

Trading Platforms

Customer Support

Education

Conclusion

What is OctaFX?

 

Another leading broker in the trading game is OctaFX. OctaFX is a leading and trusted brand all over the world. OctaFX is a trading company that focuses on technology. This company has been trading since 2011 and providing industry-leading services with various income streams and fantastic features, including cTrader & MetaTrader5.

 

OctaFX traveled a route from just an offshore consistent focus in Vector format or further worked throughout the UK. At the start of its formation, but in 2017 its organization was already shut and transferred to Cyprus.

Thus, an international package from its firm also operates along with the EU CySEC license distributor.

Pros	Cons
Trusted Broker Globally	Forex education is not available
Uses both MT4 & MT5 platforms

 

10 Points Summary

Headquarters	Broker located in SVG and Cyprus
Regulation	CySEC, FSA SVG
Platforms	MT5, cTrader
Instruments	CFDs on Commodities, Metals,  Forex, Indices, and Energies
EUR/USD Spread	0.5 pips
Demo Account	Available
Minimum deposit	100$
Base currencies	USD, EUR
Education	Available only through the international entity
Customer Support	Available for 24/7

 

Awards

If you have ever visited the site of OctaFX, you must have seen that at the top of the page on the right hand, OctaFX is mentioned as Best Forex Broker 2019.

We have reviewed many trading sites before, the most eye-catching thing we found about OctaFX is that it's every claim is legit. OctaFX has built the relationship of trust in its investors' hearts.

OctaFX is already well known and has been running for quite a while now. OctaFX has also received its EU license recently.

OctaFX took part in various competitions for the years it operates and has won multiple global awards. Also, has an enormous number of successful investors registered with the organization. That all reinforces its role and defines the respectable position of the company.

Pros	Cons
Protection of Negative Balance	Was an offshore company in the past
Regulated by International Broker “CySEC”

 

OctaFX is safe or a scam?

The only reason that we have written this review and you are reading this is to know how authentic OctaFX is. Well, trading is not children's play. You need to have trading experience and money before investing in any broker.

From 2011 until now, OctaFX has made a living of 100s of people. 

 

Here since you are interested in investment in OctaFX, so let us tell you the truth. From 2011, OctaFX started a route with multiple functional licenses like SVG enrollment, serving the UK subsidiary, but in 2017 this entity was suspended and targeted its next destination (Cyprus).

 

So after these inactive years, OctaFX is now verified and registered by the Law of Saint-Vincent and the Grenadines under Octa Markets Incorporated Company. It is an offshore company and has approved the tax-management of OctaFX. Along with this, OctaFX has also established its entity with Cyprus.

 

This certificate gives a green sign that OctaFX is now safe and secure to use. So, you can invest in OctaFX without the fear of scam alerts.

 

 

How Protected You Are?

OctaFX makes sure to provide safety to its investors. From your account details to your data, everything is secure under OctaFX terms and policy.

For safety, OctaFX has a policy (Investor Protection and Compensation Schemes) that keeps the account of the investor’s safe and prevents them from bankruptcy.

Feel free and safe to invest in OctaFX.

 

Leverage

Leverage level is of the main aspects considered in Forex Trading. Your single mistake in leverage level can ruin your all effort. The higher the leverage level will be, the higher will be your risk of losing.

This tool is significantly useful to increase your initial capital, but you need to be smart while using it. To save the investors from high risk, OctaFX Cyprus under ESMA provides a low leverage level.

If you are a European investor, then the leverage level you will have is only 1:30 and 1:10 for goods. And for international traders, the leverage is up to 1:500.

 

Account

Another eye-catching feature of OctaFX is that it has a wide variety of accounts. The two main types of accounts are, however, demo and live accounts. The minimum deposit you are required to pay is $100.

 

Types of Account

 

Because the trader describes itself, the Meta-Trader 5 account provided to a moderate trader is ideal as it also embraces all investing methods and collective dealing for the investor. 

Although, cTrader is more appropriate for radical investors. With a commission-based pricing scheme, it provides a comprehensive exchange rate.

 

Also, there is a choice for a Demo training account to apply and then use it on an unlimited basis to improve technique or better get to know frameworks and requirements of OctaFX.

 

However, the multi-national initiative also contains a platform-based ECN and PRO account. In addition to providing a Nano Login mostly on MT 4.

Trading Instrument

OctaFX believes in modern techniques and technology for trading. OctaFX uses trading instruments like Energies, Metals, Forex currency pairs, and Indices.

There is no doubt that these trading instruments are the most used in the trading world. These instruments have made the work for investors easier.

 

Fees

You don't want to have a trading platform where you have to pay more than you earn. Here, we will tell you the round figures of the fees. But to check it more accurately, you better have to visit the official site.

The amount of taxes will vary on the account you choose and on the service. OctaFX has a rule that you have to pay whenever you use their services.

 

Pros	Cons
No deposition fees	Charges for inactivity
No extra charges
$0 withdrawal fee

 

Deposit & Withdrawal Methods

How perfect it would be if you were able to deposit the amount directly from your bank account! Well, OctaFX has this offer. OctaFX allows you to deposit your amount directly from your bank account without any deposition fees! Isn't it amazing?

The process of withdrawing money is also simple and easy. OctaFX doesn't charge withdrawal fees, and after confirming it, you can have your amount with 1-2 working days.

 

However, there is a process of withdrawing money. You are required to fill a form. Following are the form's requirement,

 

Fill the form and enter the withdrawing amount,

Choose the method of withdrawing,

Complete the other requirement,

Submit the form and wait for the transaction,

See, the process as simple as we mentioned above.

Pros	Cons
Wide range of deposition and withdrawal	Requires to fill the form for withdrawal
Direct bank transfer available	Doesn't support credit card for Cyprus entity

 

Trading Platforms

Today's trading world is using the latest trading platforms like Meta-Trader 4 & Meta-Trader 5. OctaFX, as we mentioned above, believes in modern and convenient trading. It also provides these platforms.

OctaFX offers Meta-Trader 4 & 5 along with it, OctaFX also offers cTrader. The choice of the platform always influences your trading performance.

The cTrader is more advance than both these two. The cTrader gives direct access to the market by offering ECN.

Pros	Cons
Efficient platforms	None
MT4 for international investors only
Support different languages

 

Customer Support

Reviewing OctaFX without mentioning its Customer Support is not a review at all! The live chat service is proving to be very supporting and helpful for users. OctaFX also provides this service to its users.

The live chat service is available 24/7. Live chat agents and very supportive and quick in response. The best thing about their staff is that they know how to satisfy a user by providing the correct information.

 

Pros	Cons
Live chat service is available	None
High-quality staff
Quick in response

 

Education

By the word education, you may think that OctaFX may take classes of its traders. But there is nothing like that. Here the word education describes the effort of OctaFX in guiding its traders to the successful path.

OctaFX arranges educational programs and events to guide the new traders about trading tools and the strategy they need to use.

When we take the review of the educational events held by OctaFX: we conclude that it has positive remarks from the beginners. They find it very informational.

 

Pros	Cons
Available on an unlimited basis	Not such cons found
Weekly trading & economic news available
Different educational tools available

 

 

Conclusion

After this long article, let us sum up this. Thousands of brokers are claiming themselves as the best daily. But when we investigate them, the results find out to be the opposite.

In a world full of scammers, trust OctaFX. OctaFX is a safe and secure platform for trading. Each of their terms and policy is user-friendly.

 

The minimum deposit you are required to pay is $100. Choose the type of account you want and then start trading. If you are a beginner, then no worries, you can have a demo account. Through this, you can polish your trading skills. Or you can participate in educational events held by OctaFX to guide its investors.