OctaFX
- Website: https://www.octafx.com/
- Year Established 2011
- Regulation: CySEC (Cyprus), SVG FSA (Saint Vincent and the Grenadines)
- Headquarter: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
International offices |
Head Office Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines, registration number: 2023-00092. Contact e-mail: [email protected] |
Broker Type |
ECN/STP |
Broker Status |
Independent Broker |
Accept U.S Clients |
No |
Phone |
No |
Fex |
No |
|
|
Website Languages |
English, Spanish, Portuguese, Russian, Chinese, Bangla, Indonesian, Malay, Thai, Arabic, Vietnamese, Korean, Urdu, Malay, Hindi and MoreBahasa Indonesia, Bahasa Mel |
Account Information
Free Demo Account |
Yes |
Min. Deposit |
$100 |
ECN account |
Yes |
Account Currencies |
EUR, USD, GBP, SEK, DKK, ZAR, NOK, PLN, AUD, AED, CZK and More |
Maximum Leverage |
up to 1:500 |
Minimal Order Volume |
0.01 |
Segregated accounts |
Yes |
Swap-free Accounts |
Yes |
MAM/PAMM accounts |
Yes |
Managed account |
Yes |
Interest on margin |
No |
Deposit/ Withdraw Options |
Visa/ Mastercard/ Maestro USD/EUR, Webmoney, Skrill, Neteller, Visa/ Mastercard/ Maestro USD/EUR, Visa/Mastercard (Mercuryo), ePayService, FasaPay, Perfect Money, Bitcoin and more |
Trading Terms
Trading Platforms |
MT5 for Desktop, MT5 WebTerminal, MT5 Android, MT5 iPhone Trader, MT5 iPad Trader, MT4 Desktop, MT4 Multi Terminal, MT4 WebTrader, MT4 iPhone Trader, MT4 iPad Trader, MT4 Android Trader, MT4 Smartphone Trader |
Precision pricing |
5 digits |
Type of Spread |
FIXED and Variable |
Commission |
Yes |
Lowest spread on EURUSD |
0.1 Pips |
Scalping |
No |
Hedging |
Yes |
Expert Advisors |
Yes |
One-click execution |
Yes |
OCO orders |
No |
Mobile Trading |
Yes |
Web Trading |
Yes |
Gold, Silver |
Yes |
CFDs |
Trading CFDs on cryptocurrencies is only available under Exinity Limited |
Other Trading Instruments |
Yes |
Promotion |
50% Forex Deposit Bonus and Commission-free Deposits |
Trading Contests |
Yes |
OctaFX Broker Review
OctaFX is a forex and CFD’s broker, provide currency trading solution in the global market. They provide Metatrader and ctrader platforms. The broker was established in 2011. They are well regulated and a favored broker for good services. You can trade forex currency pairs, CFD, cryptocurrency, stocks, metals, etc. Let’s see their every detail you can choose as your trading broker or not.
OctaFX Overview: why should you choose the company?
The broker was founded in 2011, and the headquarter is located at Saint Vincent and the Grenadines;
The company is Regulated by SVGFSA license no.19776 IBC 2011
They achieve many industry awards for exemplary services;
The offers STP/ECN service ensures no slippage, tight spreads, fast execution, and no re-quotes;
Client support provides 24/7 on market days to fulfill client needs and solve client problems;
Offer four different types of account for all level of traders, ranging from beginners to advanced level of traders;
Metatrader trading platform and cTrader platform for advanced trading features;
Good network stability, and excellent execution;
They offer spreads starts as low as 0.6 pips;
A client can take leverage up to 1:500 leverage with micro-lots (0.01 size);
Trading on the news, EAs, Scalping, and hedging are permitted at OctaFX.
Client deposits are held on different accounts from the company account.
Regulation and Security
As their regulation and base, they are providing service worldwide,
OctaFX is registered in Saint Vincent and the Grenadines. SVGFSA license no.19776 IBC 2011
They provide Negative balance protection and client funds are held from the company funds.
Account types
OctaFX offers two different types of accounts. These accounts are designed for all levels of traders to provide full features and a special experience. Here are features of all trading accounts:
OctaFX MT5
Recommended for: Smart trader
Floating, starting at 0.6 pips
32 currency pairs, three energies, ten indices, five cryptocurrencies, gold and silver
Maximum trading volume 500 lots
Margin call/stop out level 25% / 15%
Leverages are
- 1:500 for currencies
- (1:100 for ZARJPY)
- 1:200 for metals
- 1:100 for energies
- 1:50 for indices
- 1:10 for cryptocurrencies
OctaFX MT4
Recommended for: Habitual trader
Floating, starting at 0.6 pips
32 currency pairs, three energies, four indices, five cryptocurrencies, gold and silver
Maximum trading volume 200 lots
Margin call/stop out level 25% / 15%
Leverages are
- 1:500 for currencies
- (1:100 for ZARJPY)
- 1:200 for metals
- 1:100 for energies
- 1:50 for indices
- 1:10 for cryptocurrencies
Leverages are
- Up to 1:500 for currencies
- 1:200 for metals
Demo account
The broker offers a demo account. It’s completely free to start. The account mostly designed to practice trading but sometimes experts also play to check services. Both MT4 and MT5 platforms are available for demo traders. A fantastic thing is they offer demo contests regularly to make their clients happy.
Islamic account
It’s a swap-free trading account. The account is designed for Islamic traders. It also offers negative balance protection. MT4, MT5 and cTrader platforms are available for this account.
OctaFX Trading platforms
The broker offers MetaTrader trading platforms:
MetaTrader4
It’s one of the most popular trading platforms. The platform was established in 2005 by MetaQuotes Software. This platform features are:
- CFD and Cryptocurrency trading
- Clear and beginner’s friendly interface
- Reliable Virtual Private Server service
- Interactive, customizable charts
- Expert Advisors and Custom Indicators
MetaTrader5
It is an updated version of the Mt4 platform. It is designed to provide more and advanced features. The most important components are:
- Integrated development environment for EAs
- Unique interface which is known as highly customizable
- Stop Limit orders and built-in economic calendar
- one-click trading tools and ultra-fast execution
All platforms can be accessed via web browser, and the downloadable version available for both pc and mobile devices. Additionally, you can download apps from their website, apple app storeandgoogle play store. All apps and web version are completely free to download and access.
OctaFX Deposits and Withdrawals
The broker offers flexible payment options for their clients. They accept a wide range of payment options, including local and global. In addition, they get both crypto and fiat currency payments. Traders are eligible to use Skrill, Neteller, debit cards, credit cards, cryptocurrency and Bitcoin.
The offers commission-free deposit and withdrawal, and there are no hidden charges. The deposit and withdrawal processing times are faster, but it may take up to 30 minutes to process deposits through bitcoin and cryptocurrency. The withdrawal time is up to 3 hours for every gateway.
Promotions and bonuses
This forex broker is well known for a different type of bonuses. The provides fantastic bonuses such as welcome bonus, deposit bonus and contests. They regularly offer a 50% deposit bonus on every deposit and superb competitions which prizes are cars, iPhone, trips and more.
Client support
OctaFX is a popular forex broker for good client service. They provide 24/7 client service on the market days. They provide client support via different mediums. Clients can get support via live chat, contact form, telegram and a few supports via social media. The contacts are:
Also, there is a FAQ section on their website covering all common question answers, including the company, payment options, account options, etc.
‘OctaFX is a trusted experienced global broker that offers a user-friendly platform and a wide selection of trading instruments. OctaFX acts in full compliance with international legislation and regulation standards and guarantees fund security and negative balance protection to over 6.6 million trading accounts worldwide.’The OctaFX Trading App and the OctaFX Copytrading App are cherished by investors and traders for their intuitive interface—proven by corresponding awards and users' reviews in Google Play.
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