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OctaFX Overview
OctaFX is an ECN broker, it was launched in 2011 and registered in St.Vincent and the Grenadines. OctaFX offers to trade Cryptocurrencies via CFDs, Forex, Metals, and Indices. OctaFX Regulated by CySEC and offers cTrader suite and MetaTrader trading platform. The broker OctaFX has two versions of website one is OctaFX.com and another one is OctaFX.eu. OctaFX.com is registered in St. Vincent and the Grenadines and OctaFX.eu is regulated by the CySEC (Cyprus Securities and Exchange Commission) for European Union users. But there is no restriction to use OctaFX.com website for European Union users, they can take advantage of high leverage.
OctaFX is suitable for both professional and beginner traders and offers 3 types of accounts (Micro, Pro, and ECN).
Regulations and Security
OctaFX is a regulated broker and operated by Octa Markets Incorporated, governed by the Law of Saint-Vincent and the Grenadines.
Broker Overview
| Website | Visit Website |
|---|---|
| Broker Type | ECN/STP Forex Broker |
| Demo Link | Open Demo Account |
| Founded | 2011 |
| Country | St. Vincent and the Grenadines |
| Headquarter | Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines |
| Regulation | Regulated by Cyprus Securities and Exchange Commission (CySEC) Licence Number: 372/18 |
| Int Offices | St. Vincent and the Grenadines |
| Phone | +17844574224 |
| Fax | No |
| [email protected] | |
| Website Lang | English, Chinese, Indonesian,Malay, Spanish, Portugees, Hindi, Urdu, Thai, Bengali, German |
| Accept Us Clients | no |
| Account Currencies | USD |
| Trading Platforms | MT4, MT5, cTrader (Mobile, Desktop and Web) |
| Promotions | 50% Welcome Deposit Bonus Promotion and CHAMPION MT4 DEMO CONTEST |
| No Deposit Bonus | No |
| Welcome Bonus | Up to 50% Welcome Deposit Bonus Promotions |
| Commission | Yes |
| Withdraw Options | Bank wire, Debit/Credit card, Neteller, Skrill, FasaPay, Local Payment means in: Indonesia, Malaysia, Bangladesh, Pakistan, Nigeria, Thailand, India |
| Account Funding Methods | Bank wire, Debit/Credit card, Neteller, Skrill, FasaPay, Local Payment means in: Indonesia, Malaysia, Bangladesh, Pakistan, Nigeria, Thailand, India |
| Other Trading Instruments | Yes |
| Min Deposit | 5 |
| Max Leverage | 1:500 |
| Mobile Trading | Yes |
| Web Trading | Yes |
| News Trading | Yes |
| Type Of Spread | Fixed and even Negative |
| Minimum Spreads | 0.2 pips |
| Lowest Spread On Eur Usd | 0.2 pips |
| Precision Pricing | 4 and 5 digits |
| Free Demo Account | Yes |
| Mini Accounts | Yes |
| Islamic Accounts | Yes |
| VIP Accounts | Yes |
| Ecn Account | Yes |
| Swap Free Accounts | Yes |
| Segregated Accounts | Yes |
| Managed Account | Yes |
| Interest On Margin | Yes |
| Trading Contests | Yes |
| Hedging | Yes |
| Expert Advisors | Yes |
| One Click Execution | Yes |
| Oco Orders | Yes |
| Gold Silver | Yes |
| CFDs | Yes |
Account types
Octafx offers three types of account these are Micro, Pro, and ECN:
Micro Account (MetaTrader 4): This account is very special for beginners and no commission.
The minimum deposit is $100
28 currency pairs, 2 metals (gold and silver), 4 indices and 3 cryptocurrencies
The maximum leverage is 1:500 for currencies, 1:200 for metals, 1:50 for indices, and 1:2 for cryptocurrencies
Pro (MetaTrader 5): OctaFX recommends this account for experienced traders.
The minimum deposit is $500
28 currency pairs, 4 metals, 10 indices, 2 energies, and 3 cryptocurrencies
The maximum leverage is 1:500 for currencies, 1:100 for metals and energies, 1:50 for indices
and 1:2 for cryptocurrencies
The minimum volume is 0.01 lot and unlimited maximum volume
One click execution
ECN (cTrader): ECN account with cTrader trading platform is always for progressive traders
The minimum deposit is $100
28 currency pairs, 2 metals (gold and silver)
Floating starting at 0, no commission, no swap but Weekend fee enable
Trading platforms
OctaFX offers MetaTrader and cTrader trading platforms, both are usable from desktop, laptop, and mobile device.
MetaTrader 4 (MT4) – This is easy to understand and has turned into a most favorite for professional and beginner traders. Throughout the years it has been accessible, it has shown itself to be truly best and incredible for traders. In this MT4 trading platform most valuable trading tools are there, for example, risk management, real time market execution, indicators, and charting tools.
MetaTrader 5 (MT5) – This is a very advanced and multi-resource trading platform for traders, offers advanced trading analysis, exceptional trading possibilities and automated trading.
cTrader – This is incredibly customizable with an exciting interface. There is a couple of a bigger number of fancy odds and whistles than MT4.
Commissions and fees
In our OctaFX expert’s review, we found different commissions and fees are organized there contrastingly as per account. Small (Micro), Pro and ECN accounts utilize the Meta trader (MT4, and MT5) and ECN platforms, separately, and bolster distinctive exchanging approaches, henceforth the variety in charges.
Spreads are largest on the Micro account and there are some fewer instruments to trade. Normally, the spread on a EUR/USD exchange maybe 1.1 pips, however in the event that a similar exchange is made through the Professional account, this may drop to 0.9 pips.
The Pro account is really good for a range of instruments and price structure. The cTrader trading platforms account isn’t far-removed yet is restricted to 28 currency pairs and just 2 metals.
In the Micro account floating spreads start from 0.4 pips, but, while it is fixed for beginning it starts at 2 pips. On the ECN account spread start from 0 pips, on the pro account spreads start from 0.2.
Not at all like the other two accounts, doesn’t it highlight a markup in any case? The ECN has only one charged a commission, the account comes with an end of the week charge.
Promotions & Bonuses
OctaFX always offers different types of amazing Promotions & Bonuses. But due to European Union rules and regulations, the broker cannot offer bonuses on EU. So, OctaFX.eu (CySEC regulated) don’t offer any bonus. However, OctaFX.com always offers different types of amazing Promotions. Currently, these promotions and bonuses are going on:
Bonuses:
50% Withdrawal Deposit bonus on each deposit with higher margins
Free Forex signals with automated alerts
Contests:
Supercharged 2 real contest, there are 3 prizes all these are latest powerful luxury cars
Champion demo contest, Withdrawable prizes – 1ST $500, 2ND $300 and more
Crader Weekly demo contest, Withdrawable prizes – 1ST $150, 2ND $100 and more
Education and Research
OctaFX offers a lot of educational trading articles, videos, analysis, tutorials and very good information about MetaTrader or cTrader trading platforms.
OctaFX offers an amazing range of tools, you will find on octafx.com website these are:
Economic Calendar and national holidays
Profit Calculator
Live Quotes Monitoring
Market News Update and Insights
Profit Calculator
Interest Rates, Stop Loss and Take profit and more
Deposit and withdrawal method
OctaFx Deposit and withdrawal method is good, depositing and withdrawing is commission-free also offer 50% bonus on deposit via skrill, Neteller and bitcoin. The minimum deposit is 50 for both skrill and Neteller and 0.00045 BTC and 5 USD is minimum withdraw.
OctaFX awards
OctaFX is multi-award winning broker has won a number of awards:
BEST ECN/STP BROKER 2019
BEST FOREX BROKER ASIA 2019
BEST FOREX BROKER ASIA 2018
BEST COPY TRADING PLATFORM 2018
MOST TRANSPARENT BROKER 2017
BEST FOREX BROKER EUROPE 2016
BEST FOREX BROKER IN EUROPE 2015
BEST INTERNATIONAL BROKER 2015
MOST RELIABLE BROKER 2014 AND More
Customer support
OctaFX supports clients 24 * 5 through website live chat, phone, email and WhatsApp from across multiple languages. OctaFX also offers good support on various social site including Facebook, Twitter, and Instagram.
Features
Monday to Friday 24 Hours site
Website live chat support and a contact form
Phone support: UK +44 20 3322 1059, Hong Kong +852 5808 8865, Indonesia +62 21 3110 6972
WhatsApp: +34 651 769 010 (Texts only)
Office: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent, and the Grenadines
OctaFX offers different manuals to help customers in utilizing the main two platforms are MetaTrader and cTrader.
