What is OctaFX?
A multi-asset broker and global online financial trading platform, OctaFX was established in 2011.
After more than 11 years, OctaFX has expanded to provide forex trading to retail clients.
OctaFX is a worldwide broker. The headquarters of OctaFX are located in St. Vincent and the Grenadines.
Finding a broker who can suit your demands when trading on the financial markets might take a lot of time.
In this OctaFX review, we’ll delve deep and evaluate how well the OctaFX platform serves traders in 2022 as a global platform for trading numerous financial assets.
You frequently have to visit and read numerous broker websites, all of which use various linguistic constructions. The language might be highly ambiguous. It can be challenging to select an online broker like OctaFX. The first few obstacles for a newcomer may be what looks to be a complicated mobile or online trading platform, difficult-to-understand financial jargon, and perplexing cost structures. We outline the advantages and disadvantages in our assessment of OctaFX. What OctaFX can provide and in which countries it is accessible. Who regulates OctaFX and other information.
Your success in online trading depends on having a trustworthy and competent broker. To prevent losing your cash, be sure your broker is genuine and trustworthy. Check to see whether your needs and your broker’s profile match in order for you to have a successful working relationship.
For this reason, we took the time to examine only the top brokerage firms, their procedures, their fee structure, and all other crucial factors. We urge you to weigh the pros and cons of each broker before entrusting your hard-earned money to them. We hope that this OctaFX review was helpful to you.
This OctaFX platform review is pretty thorough. Please take the time to read and thoroughly research the OctaFX review if you have any interest in trading with them.
In order to give you, the trader, as much information as possible before you begin using the OctaFX trading tools and depositing and withdrawing money from OctaFX, we have made an effort to explain the ins and outs of financial trading using the OctaFX platform as simply as possible.
Online investing carries the same risk as any other offline investment. As with any investment, it’s crucial to understand and thoroughly study the business you’re working with. when trading financial assets, such as forex, with OctaFX. You should have faith in OctaFX and be assured that your financial investments on the OctaFX platform are being managed by professionals.
We hope that this OctaFX review will enable you to determine whether OctaFX is a good fit for you.
The idea that trading online is simple is a prevalent one. Trading online is challenging, and traders need to do their own research and understand exactly what they are doing. You will discover crucial details about OctaFX in this post that will aid you in starting out successfully in the realm of online trading.
With over 50 different assets, OctaFX is a multi-asset trading platform.
With over 50 trading assets, OctaFX is a multi-asset platform. Forex is one of the available assets on OctaFX.
OctaFX deals in a variety of financial asset classes. Any security or anything, tangible or intangible, with a monetary value attached is considered a financial asset. Therefore, currency exchange is seen as a financial asset.
Features of OctaFX include:
• Virtual Portfolio, or what is commonly known as a Demo Account;
• Advanced Financial Chart comparison tools;
• Research-backed analysis on financial markets and investments from top analysts;
• The OctaFX platform is available to use on multiple devices including iOS devices like iPhones and iPads, Android devices, and online through a Web Browser.
What you must understand
One trading option offered by OctaFX is forex. The products and assets you have access to on the OctaFX trading platform vary depending on where in the world you are and with whom you have an account.
You must make a $5 minimum deposit with OctaFX. To familiarize yourself with the OctaFX platform, you can register for a demo account.
Whether you are a newbie or an experienced trader, OctaFX can accommodate you.
Is OctaFX secure?
The administrative structure and regulatory standing of the broker are crucial factors to consider when selecting one like OctaFX. Brokers that work independently from a regulating body do so at their own discretion. Your investment capital is at danger.
OctaFX was founded in 2011 and has been in business for 11 years. Their headquarters are in St. Vincent and the Grenadines.
OctaFX is governed. This indicates that OctaFX is under the Financial Conduct Authority’s (FCA) regulatory agencies’ supervision and conduct checks.
Due to the regulations put in place, regulated brokers are very unlikely to manipulate market pricing. OctaFX will honor your withdrawal request that you submit. OctaFX may lose its regulated status if they break any regulatory laws.
Deposits may not cover losses.
Is OctaFX a safe place for my money?
Any funds added by traders to their OctaFX accounts are kept in a separate bank account.
OctaFX uses tier-1 banks for this to increase security. The standard metric for assessing a bank’s financial health and soundness is Tier 1.
Why should OctaFX use Tier 1 banks? What are they?
Regarding customer capital, a Tier 1 bank is regarded as the safest and most secure. The phrase “tier 1” actually refers to a bank’s financial stability. A Tier 1 bank often has substantial core capital reserves and is able to sustain unforeseen losses.
What does it signify if OctaFX deposits your money in a Tier 1 bank?
Any funds you deposit with OctaFX are maintained at a bank with sufficient capital to handle your withdrawal requests even in the event that OctaFX goes out of business.
As a result, we can say with confidence that OctaFX is both safe and reasonably secure.
Please keep in mind, though, that trading in financial assets carries some risk. Accounts may face losses as a result of insufficient market research, a lack of competence, or a failure to utilize the brokerage platform’s resources.
Losing money quickly when trading financial investments is frequent, especially when trading forex. Only engage in trading when you are aware that there is always a chance that your invested money could be lost due to market volatility. On their platform, OctaFX also makes it quite clear that losses may exceed deposits.
Now that we’ve addressed certain crucial OctaFX-related queries. Let’s take a closer look at the OctaFX features.
When using OctaFX, consider opening two accounts. The first is your genuine account with real money, and the second is your practice account. Your test account is the demo account.
Pros and Cons of OctaFX
What we like about OctaFX: Established in 2011, used by over 30,000 traders and users, regulated by the Financial Conduct Authority (FCA), $5 minimum deposit.
What we dislike about OctaFX is that it doesn’t provide VPS and is not ASIC-regulated.
More information about OctaFX Regulation and Licensing
We verified that OctaFX is overseen and regulated by credible organizations. You can look up each supervisory and regulatory body for OctaFX that is listed below. If you have problems with OctaFX, regulation affords you some remedy. Regulating bodies safeguard investors with programs like reimbursement plans that allow clients to get their money back in the event that a broker goes bankrupt.
In order to maintain their licenses and carry on business in such jurisdictions, brokerage firms must adhere to a variety of regulations and standards set by those regulatory bodies. The goal of regulation is to safeguard OctaFX traders and create a more secure trading environment. It is crucial to have financial regulation and license clearance.
Reputable financial regulatory organizations oversee, manage, and regulate OctaFX. Regulatory organizations keep an eye on the brokers’ actions, and if something goes wrong, they will take the appropriate action. Make sure an online broker is a legitimate internet agency before trading with them, such as OctaFX.
OctaFX Global is it?
Yes, OctaFX is international because it is accessible in over 194 nations.
Insofar as it operates in 194 nations, including those in Africa, Asia, Oceania, and Europe, OctaFX is a truly worldwide trading platform. OctaFX primarily serves the United Kingdom, Germany, Australia, South Africa, Thailand, and China. In total, OctaFX has more than 30,000 users.
OctaFX Prizes
Over the course of their 11-year existence as a financial broker, OctaFX has garnered numerous industry honors. The most significant honors and mentions for OctaFX are mentioned here.
European CEO Magazine Best FX Broker 2018; European CEO Magazine Best Trading Conditions 2018; Forex Awards Best Copy Trading Platform 2018; Forex Awards Best Trades Execution 2017; UK Forex Awards; Fx Daily Info Best ECN/STP Broker 2019; Fx Daily Info Best Forex Broker Asia 2019; Global Banking and Finance Review Best Forex Broker Asia 2018; Best Forex ECN Broker 2017; Most Transparent Broker 2017; Best Trading Conditions 2016; Best International Broker 2015; Forex Traders; Forex Report Magazine; European CEO magazine; Global Banking and Finance Review; European CEO magazine; FX Empire; Most Reliable Broker 2015; Best Islamic Account Forex Broker 2015; World Finance magazine’s Best Broker Central Asia 2014; Best ECN Broker Asia
• Fastest Growing Micro Forex Broker 2012 according to Global Banking and Finance Review
Fees for OctaFX Explained
OctaFX does not charge withdrawal fees, inactive account fees, or any other costs.
Deposit fees are not assessed by OctaFX.
Modern internet trading platforms, mobile trading applications, financial research tools, and instructional resources are all provided by brokers. For a brokerage to continue offering these services and generate income as a business. You should be informed of the numerous trading fees that brokers may charge their consumers because they could have an impact on your bottom line.
Minimum Deposit for OctaFX
When opening an OctaFX trading account, a minimum deposit of 5 GBP/USD/EUR is required.
OctaFX’s minimum deposit requirement is the sum of money needed to start a new online brokerage account with them.
Brokers like OctaFX that need a minimum deposit to start a trading account shouldn’t scare you away. Higher minimum deposit brokers frequently provide extra premium features on their platforms that are not offered for free on other platforms.
Brokers with smaller minimum deposits typically target a more general market that doesn’t need some of the more sophisticated features and research tools.
Brokers that don’t require minimum deposits typically do so to draw in new clients. Transaction commissions and other trading fees could be greater with a low minimum deposit account since they need to generate returns in some other way.
Brokers with higher minimum deposit requirements typically have a wider selection of trading features available on their platforms. These brokers frequently have superior risk management features and more thorough technical analysis and research capabilities.
The minimum amount needed to start a live trading account has decreased as more online trading platforms have joined the market and as more brokers compete for new customers.
Some brokers demand a minimum deposit as high as 6500 GBP/USD depending on the type of trading account you choose. Some brokers provide exchange rates up to 10,000 GBP/USD.
Withdrawal Fees for OctaFX
There are no withdrawal fees at OctaFX.
Each broker has its own unique withdrawal policies that govern how money can be taken out of trading accounts.
This is due to the fact that every brokerage house will have a distinct withdrawal process, and every payment provider may have various transfer processing costs, processing delays, and potential currency conversion fees. Your base currency, your receiving currency, and your payment provider all affect the conversion fee.
For instance, OctaFX enables you to withdraw your money to electronic wallets such as Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, and FasaPay as well as credit cards, debit cards, bank transfers, and VISA, MasterCard, and Visa Debit.
Inactivity Fees at OctaFX
There are no fees associated with inactive accounts at OctaFX.
A fee is assessed to the registered brokerage client known as an account inactivity fee.
According to the terms and conditions of the accounts, clients may be required to comply with certain trading activity requirements set forth by brokers.
An inactivity fee could be owed if a client’s trading account doesn’t engage in any buying and selling for the predetermined amount of time set by the broker.
Online trading accounts are not the only ones that incur inactivity penalties. There may be inactivity fees levied by several financial service providers. Make sure you are informed of and satisfied with all the services and costs you can be charged by visiting the broker’s website.
Close your trading account if you are no longer using it by contacting the broker’s customer service. A certification that any outstanding fees are not owed should also be obtained.
You may only be assessed an inactivity fee under specific conditions, depending on the type of account you have opened. A broker is required by regulation to disclose any inactivity costs in full.
To make up for the lack of commission fees from your trading, certain brokerage firms may levy inactivity fees in exchange for keeping your account active on their pricey trading platforms.
Deposit Fees for OctaFX.
OctaFX does not impose deposit fees. Despite this, fees from your bank or a third party merchant can be assessed.
When you deposit money from your payment method into your trading account, you should always check the fees associated with the deposit because certain brokers may charge you a fee. This is due to the fact that the mode of payment that you use to fund your account may come with an associated cost.
When you deposit a certain type of fiat cash into your account, you can be subject to a fee that is always the same amount. Depositing payments from a credit card, for instance, is notorious for having high costs associated with it. This applies only in the event that your broker allows you to fill your account with a credit card.
Commission Charges Made by OctaFX
OctaFX does not impose commission fees on transactions involving CFD instruments.
When a broker facilitates the buying and selling of financial assets through your trading account, the broker may assess a commission fee in addition to the standard trading fees as a kind of a service charge.
It’s possible that the majority of a brokerage house’s revenue comes from the commission fees they charge registered traders on client transactions.
The trading type, the type of financial asset, and the amount of trading account that you have can all have an impact on the commission costs that you are charged.
If the brokerage fulfills an order, cancels an order, or modifies an order on your behalf, you will be responsible for paying a broker commission.
In most cases, the commission fee will not be assessed if your brokerage is unable to fulfill a market order.
Be advised that if your order is changed or canceled, the brokerage that handled the transaction can charge you a commission fee.
What kinds of trades are possible with OctaFX?
Be advised that different organizations operating under the OctaFX Brand provide a variety of trading instruments because of the constraints imposed by regulators. The client’s nation of residency and the organization that manages the customer account both have an impact on the trading instruments that are made available to them. In addition, the trading instruments that are made available to you by OctaFX may differ from one trading platform to another depending on which trading platform you use.
OctaFX gives traders access to more than 50 different trading instruments, allowing for a diverse range of trading options.
If you are searching for Forex brokers to trade currency pairs on global Forex markets, OctaFX offers more than currency pairs for your trading convenience.
Trading on several web platforms provided by OctaFX as well as other apps
OctaFX is one of the few brokers that provides clients with access to both the MT4 and MT5 versions of the MetaTrader trading platform. You can read our comparison of MT4 and MT5 here if you’re interested in finding out how the two platforms stack up against one another.
OctaFX is one of a select few brokers that makes the specialized trading platform known as cTrader available to its clients. Check out our comparison of MT4 brokers to find a list of forex brokers who provide the cTrader platform.
In addition, OctaFX has mobile applications for both Android and iOS, making it much simpler to monitor your transactions and carry them out even when you are moving about.
Is There a Lack of Security on the OctaFX Trading Platform?
OctaFX uses secure socket layer (SSL) encryption in both its desktop and mobile platforms to protect the sensitive information of its customers. When using OctaFX, customers are strongly encouraged by OctaFX’s online platform to check for the presence of an SSL security sign in their browsers, which appears in the form of a locked padlock.
Options for Trading on the OctaFX Platform
After successfully logging into your OctaFX account, you will be presented with the following trading platform options for your consideration.
• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• cTrader
Let’s go over each of these trading platforms in greater detail, starting with OctaFX and moving on to the other platforms.
OctaFX MetaTrader 4 (MT4)
MetaTrader 4, usually abbreviated as MT4, is one of the most well-liked trading platforms currently accessible. It has been put to use in the financial markets continuously since the year 2005. The MetaTrader 4 program provides a feature-rich, user-friendly interface as well as an incredibly customizable trading environment. These elements are meant to meet all of your trading demands and improve your trading performance. charting capabilities as well as more sophisticated order management features.
You should be aware that the MetaTrader 4 (MT4) trading platform was built primarily for the purpose of trading foreign exchange (Forex); nevertheless, you can trade various types of financial products through the use of CFDs and spread betting. On any MetaTrader 4 (MT4) platform, you will not be able to trade stocks, indices, commodities, exchange-traded funds (ETFs), or futures unless the underlying asset is a CFD contract or spread bet. When you speculate on price fluctuations with OctaFX using CFDs or Spread bets, you will not own any of the underlying assets. This is because you are betting on price changes.
You can begin utilizing the MetaTrader 4 platform with OctaFX in a variety of methods, including through an online web platform, through an application that can be downloaded for use on Windows PCs and Apple Macintosh computers, and through a downloadable version for mobile devices. The most recent version of macOS, Mojave, can be used with OctaFX MetaTrader 4. Traders are able to conduct their business on the go with Android and iOS devices like the iPhone, thanks to OctaFX’s mobile trading platform.
OctaFX’s Metatrader 4 Webtrader is available to users.
MetaTrader 4, which is available as a web-based program that can be used through your web browser, has become the most popular trading platform in the world as an increasing number of traders choose to conduct their business online. Advanced charting, a highly customizable trading environment, trading tools that are simple to use online, and a wide variety of indicators are just some of the features that make the desktop version of MetaTrader 4’s web software just as user-friendly as its web-based counterpart. You are free to trade in our Raw Pricing environment without the assistance of a Dealing Desk from any location on the planet.
Trade OctaFX MetaTrader 4 for iOS Devices
You can download the OctaFX app or can trade with OctaFX using the MetaTrader 4 program on the Apple app store.
Download the Metaquotes MetaTrader 4 Program for free of charge from Apple’s App Store. OctaFX users have rapid access to this Financial markets, with the opportunity to comprehensively manage a Portfolio on the go.
Trade OctaFX MetaTrader 4 on Android Devices
Andorid mobile devices and tablets are used by millions of people globe. OctaFX provides its clients access to the MetaTrader 4 platform on Android enabled devices so that customers may watch the financial markets and trade directly from their Android-based Smartphones and tablets. The Android OctaFX MetaTrader 4 Android application enable traders to make the most of several advanced trading capabilities which enables users to monitor and trade Forex fast on the go, simply and securely.
Trade OctaFX MetaTrader 4 Trading Central Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:
• Analyst Perspectives – A go-to resource for leadership and critical levels.
• Adaptive Candlesticks – Identifies chart patterns which show key shifts in demand and supply.
• Adaptive Divergence Convergence (ADC) – Much like MACD yet beneficial at shorter lengths and offers more immediate indicators.
OctaFX MetaTrader 4 Advanced Trading Tools
The OctaFX advanced trading tools for MetaTrader 4 are targeted at improving the whole trading experience and giving traders with a competitive advantage. OctaFX offers access to 20 proprietary tools which includes feature rich trade execution & administration programs, intelligent notification alarms, communications capabilities, revolutionary market data & more.
Trade OctaFX MetaTrader 4 MultiTerminal
MetaTrader 4 MultiTerminal provides a smart easy to use dashboard where traders can administer and supervise many trading accounts. MultiTerminal will let you handle over 100 Accounts concurrently allowing you to place market orders, pending orders, check live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn’t allow Automated Trading scripts like Expert Advisors.
OctaFX MetaTrader 4 & MetaTrader 5 AutoChartist sOctaFX Autochartist is the world’s first Market Scanner available for MT4 & MT5 using a non-trading Expert Advisor script. Scan markets for trading opportunities while seeing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can’t recall which currency you’re taking a look at. Autochartist offers a basic user interface that may be adjusted to suite how you want to trade.
OctaFX MetaTrader 5 (MT5) (MT5)
MetaTrader 5 also known as MT5 is a multi asset trading platform that includes a wide range of trading capabilities and financial research tools, MT5 also allows the use of automated trading systems (trading robots) and copy trading. New features like additional timeframes and better charting tools might give you a competitive advantage in the financial markets.
MetaTrader 5 was introduced in 2010 and is the updated version of MetaTrader 4.
MetaTrader 4 was created particularly to trade Forex and CFDs, MetaTrader 5 on the other hand supports trading of Forex, Futures, Stocks, Algorithmic Trading, ETFs and Indices.
Trade OctaFX MetaTrader 5 WebTrader
Access your OctaFX MetaTrader 5 accounts from any web browser. It contains a vast selection of tools including additional timeframes and the most up to date technical indicators to provide you all the trading resources you need to trade on and evaluate the financial markets.
OctaFX MT5 Buying and Selling OctaFX MetaTrader 5 on iOS Devices
OctaFX MetaTrader 5 Can Operate on the and newer IOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. It’s suggested that you upgrade the iOS MetaTrader 5 app regularly. New versions provide greater functionality and increased stability. OctaFX MetaTrader 5 allows traders to look at market statistics of financial instruments exchanged in the market execution mode.
OctaFX MetaTrader 5 on Android Devices
MetaTrader 5 for Android may be used on an Android smartphone or a tablet powered by the Android 5.0 or higher operating system. Additionally, must login to OctaFX trading server. Take the time to study all of the Android MetaTrader 5 features. With Metatrader 5 for Android you may trade a selection of financial instruments at any time, in any place.
OctaFX Metatrader Mobile Application Features
MetaQuotes the developers of Metatrader have listened to the comments of their millions of customers and have produced the most popular mobile trading platform in the world.
MetaTrader features include:
• Financial instrument quotes
• View in depth price charts of financial instruments
• Manage transactions and open positions
• View your trading history
• View market news
• MetaTrader internal messaging
• View and research market statics of OctaFX financial instruments
• Position opening and closing
• Lookup symbols in the quotes section
• Display of deals on graphs
• Timeframe selection for graphs and charts
• Additional vertical scaling of graphs
• Capability to transfer accounts to other devices using QR codes
• Information is available only if it’s supplied by OctaFX
• Access the OTP generator with FaceID or fingerprint
OctaFX MetaTrader 5 Advanced Trading Tools
OctaFX MetaTrader 5 includes several advanced trading capabilities for the more advanced customers. Understanding these technologies can offer you a competitive edge.
• Depth of market bids and asks
• Price Data
• Margin Calculation, Futures, Forex
• Advanced Techincal Analysis
• One click trading
• Spreads
• Futures
• Trading Reports
OctaFX cTrader
CTrader is a full trading platform solution for Forex and CFD brokerages to deliver to their traders. The platform is equipped with a complete array of features to cater to each and every investment taste imaginable.
The cTrader Premium Charting and Manual Trading Platform offered on OctaFX
cTrader is a top multi-asset Forex and CFD trading platform. cTrader includes advanced order types, charting capabilities, amount II pricing, and rapid input and execution. Using a beautiful looking style and dashboard, it is coupled to state of the art infrastructure, that can be accessible from many devices.
cTrader Copy accessible on OctaFX
CTrader Copy lets everyone on the site to publish their investment plan and to share their trading technique for a charge or commission. Other dealers are able to seek for and imitate the strategies that are available, and they can enjoy risk-free investing as a result. In addition, traders are free to apply any risk management configurations that best suit them.
OctaFX now offers the cTrader Automate trading platform.
Traders now have the potential to automate their financial trading strategies with the help of algorithmic trading robots that they may construct using CTrader Automate. Within the integrated development environment (IDE), code may be written using cTrader’s modern C# application programming interface (API). The IDE enables developers to optimize and test their financial robots.
OctaFX now offers access to the cTrader Open API.
Utilize cTrader’s Open API to develop your own own program. Everyone has access to a free and safe API that is made available to the public. When creating software for desktop computers, mobile devices, or the web, developers can take advantage of cTrader’s established infrastructure. The open application programming interface (API) makes it possible for developers to interact and interface with any cTrader account.
Advantages of using OctaFX Trading
• Enables scalping
• Enables hedging
• Provides Straight through Processing
• Low Minimum Deposit
• Guaranteed Stop Loss
• Provides Negative Balance Protection
Trading Accounts from OctaFX Are Available
Following is a rundown of the many account kinds that are available with OctaFX. Whatever it is that you want to trade, the various OctaFX account options may accommodate your needs and offer you with the resources you want.
• Demo account
• Zero spread account
• STP account
• Islamic account
• Standard account
• Micro account
• Mini account
• Zero spread account
Can I get a feel for OctaFX?
OctaFX provides a sample account so users can test out the platform before making any real money deposits.
Losses can exceed deposits
Withdrawal and financing options available through OctaFX
Please be aware that the following list of OctaFX payment methods varies depending on the OctaFX Entity as well as the country in which the client resides.
You can check the OctaFX website or the members area of your OctaFX account to learn more about the various OctaFX payment methods that are accessible to you.
Payment Options Offered by OctaFX
• OctaFX accepts credit cards
• OctaFX accepts VISA
• OctaFX accepts MasterCard
• OctaFX accepts debit cards
• OctaFX accepts bank transfers
• OctaFX accepts electronic wallets (eWallets)
• OctaFX accepts Neteller
• OctaFX accepts Skrill
• OctaFX accepts Fasapay
• OctaFX accepts UnionPay
• OctaFX accepts Bitcoin
• OctaFX accepts
What are the steps I need to take to begin trading with OctaFX?
You will be required to sign up for an account with OctaFX here in order to start a trading account with them. After you have made a deposit, provided your identification documents to have your account validated, and got your login details through email, the following step is to download the trading platform of your choosing. Here you can find comprehensive instructions on how to use the OctaFX trading platforms. As part of the onboarding process for OctaFX and the standard KYC identification checks, you will be required to present certain fundamental papers to establish your identity. These checks are part of routine operating procedure at OctaFX, and they contribute to the company’s ability to provide a secure financial environment for its 30,000 consumers.
Losses can exceed deposits
Using OctaFX for your trading activities.
OctaFX enables traders to carry out trades with a minimum volume of 0.01 lot. This could be different based on the account that you choose to open. OctaFX enables you to carry out a maximum trade of 10 lots per transaction. You may anticipate tighter spreads and more clarity over the price you’re paying to complete your transactions thanks to OctaFX’s STP execution, which is available for trades.
As is the case with the vast majority of brokers, the margin requirements can shift according to the instruments.
CFD Trading on OctaFX First, let’s go over some of the fundamentals involved in making use of OctaFX leverage.
OctaFX offers contracts for difference (CFD), which are a leveraged product. In this example, 10 times leverage is described.
You are in a position worth ten thousand dollars, but you can only commit one thousand dollars, which is one tenth of the total value in your account. You are in a situation in which a relatively little sum of money controls a significantly more advantageous financial position. This gives you some negotiating power.
To answer the question, what impact does using leverage have on your earnings and losses, we can say that, to put it another way, it simply magnifies them in both directions.
Leverage in trading, such as that offered by OctaFX, magnifies both earnings and losses.
Consider the following scenario: you use the OctaFX trading platform to buy or sell ten thousand dollars’ worth of General Electric (GE) using contracts for difference (CFDs).
Suppose that General Electric (GE) shares increase in price by 10% as a result of positive performance, and that your holding in the company, which was worth $10,000, is now worth $11,000.
It has increased in value by one thousand dollars, which is a ten percent growth, and this implies a one hundred percent increase on the money that were initially committed on your leverage CFD transaction.
Our initial investment of ten thousand dollars was made for the transaction, and because the price has increased by ten percent, we have gained a profit of one thousand dollars.
The leverage offered by OctaFX can work in either direction. In the event that General Electric (GE) experiences a 10% decline in week-on-week results, the value of your position, which was previously valued at $10,000, will drop to $9,000. It has decreased by one thousand dollars since yesterday.
OctaFX CFDs are often employed in trading that is conducted for the short to medium term. Take, for instance, the intraday CFD trading offered by OctaFX. CFD trades carry a high level of risk due to the fact that they are not integrated with the financial markets; yet, they can be more flexible than typical market trading in which the investor owns the underlying asset. Trades in contracts for difference (CFDs) provide investors with access to CFD fractional shares, CFD overseas markets, and CFD short selling. CFDs can also be used as a hedging tool for more experienced traders.
Always keep in mind that contracts for difference (CFDs) are intricate instruments that come with a great potential for experiencing rapid financial loss owing to the use of leverage. Losses can exceed deposits
When Trading with OctaFX, Taking Measures to Limit Your Risk Protection against a Negative Balance
Regarding the protection against negative balances that OctaFX provides, we ought to say something. When trading with leverage, a single unfavorable move could result in a loss that is more than the current balance in your OctaFX trading account. Negative Balance Protection is something that should be put in place automatically by your broker if they are authorized by the Financial Conduct Authority (FCA). There is a possibility that your OctaFX account will go into the red. We strongly suggest that you take advantage of the negative balance protection. When you use negative balance protection, you can rest assured that your financial losses will never exceed the amount of money that is already available in your account.
OctaFX Offers Various Educational Resources
It is essential to get a solid knowledge of both the markets and the OctaFX trading tools in order to trade profitably with OctaFX. It is imperative that you make the most of all the educational resources available to you. This contains eduction tools that are included with OctaFX and those that are available outside.
OctaFX provides access to a diverse range of instructional materials. Take things slowly and educate yourself on how the financial markets behave. Spend some time getting familiar with the functionality of your trading platform. Learn how to make buy and sell trades, how to take advantage of worldwide trading times, and most crucially, how to mitigate and manage the risk of investing.
When trading with OctaFX, having an analytical approach could be a beneficial method to approach the market.
Spend some time familiarizing yourself with the OctaFX platforms and working on developing a more methodical and logical approach to thinking about the markets. It is a new skill set for many people, but the market expects you to have it in order to compete.
Support for Customers Is Provided by OctaFX
As part of our OctaFX review, we investigate the customer care alternatives available, the response times, and the efficiency with which OctaFX trading platform issues are resolved.
OctaFX only supports a handful of languages, one of which being English.
OctaFX has a support and customer service rating of triple AAA because they provide support in a large number of languages and via multiple channels, including live chat, email, and phone.
OctaFX’s customer assistance is available in a variety of languages to accommodate customers from across the world. When trying to resolve issues, having access to a broker who is able to recruit individuals from other parts of the world and who are fluent in the language spoken in your region is of tremendous benefit.
For you to be successful in trading the financial markets using the OctaFX platform, your interactions with OctaFX’s customer support team need to be good. OctaFX is responsible for ensuring that all of your queries are answered and that any problems with the OctaFX platform are resolved. When a customer of OctaFX has any questions or concerns about OctaFX, the customer care team for OctaFX should take these issues seriously and deliver a solution that is both swift and effective. Because OctaFX has an excellent customer care team, we have given them a high rating in the category of customer service.
OctaFX offers support via live chat.
OctaFX does not provide support via live chat at this time.
OctaFX offers support via email.
OctaFX provided us with fantastic response times across the board for the multiple emails we sent them. OctaFX’s reaction times ranged from less than two minutes to more than three hours, with the average being less than two minutes. The length of time it takes OctaFX to respond to support emails may be different for you, however this was our experience after sending 10 emails at different times.
Our issues were fixed, and our questions were answered. OctaFX provides excellent customer service via email overall.
OctaFX Provides Phone Support
When we called OctaFX, we were greeted by a representative quite swiftly. The call was answered in fewer than one minute after it was received.
The OctaFX phone support team was able to answer all of our queries and solve our problems successfully while we were on the phone with them. The OctaFX team’s ability to communicate in a variety of tongues was put to the test through a series of phone calls. OctaFX made an effort to ensure that all of our questions were answered to the best of their ability.
OctaFX provides excellent customer service over the phone.
What is required of you in order to create an account with OctaFX?
Because OctaFX is subject to regulation by the Financial Conduct Authority (FCA), the company requires all new clients to pass a series of fundamental compliance tests before they are allowed to begin trading. These tests ensure that you are aware of and prepared to handle the inherent risks associated with trading. If you want to register a new account, you should probably have the following information on hand, as you will most likely be asked for it:
• It is important to be informed that the date of expiration of the Proof of address document may vary for different businesses that fall under the OctaFX Brand.
• A scanned color copy of your driver’s license, passport, or national identification card.
• A recent electric or water bill, or a statement from your bank showing your address within the past three months
It is important to set aside at least five minutes or so to finish the account opening procedure because you will be required to answer a few simple compliance questions to certify how much trading experience you have. These questions are designed to ensure that you have the necessary level of knowledge.
You might be able to explore OctaFX’s platform right away, but it’s important to keep in mind that you won’t be able to make any trades until you pass compliance, which can take anywhere from a few hours to several days depending on the specifics of your situation. In the meantime, you can look around the platform at your leisure.
CFDs are leveraged products, which means that you run the risk of suffering losses that are greater than the amount that you initially deposited. All trading entails risk. You should only risk money that you can afford to lose. Past performance does not guarantee future results.
Is OctaFX a Trustworthy Forex Broker?
We spent more than three months investigating OctaFX in great detail. In spite of the fact that we discovered a number of really helpful features of the OctaFX platform that some traders would find useful, we have the general impression that you would be better off using a different broker than OctaFX.
• OctaFX has been in business for more than 11 years.
• OctaFX has a customer support staff that is at least 10 people strong.
• OctaFX has a proven track record of successfully providing forex services.
• The Financial Conduct Authority oversees OctaFX’s operations as a broker (FCA). Because of this, OctaFX is subject to regulation from a country that has the authority to hold a broker accountable for the problems that it causes, or at the very least, to act as an arbitrator in the event that larger disagreements arise.
• OctaFX is regulated by a number of respectable regulatory agencies.
• OctaFX is able to complete the processing of both deposits and withdrawals within two to three business days. When it comes to withdrawing funds, this is a crucial consideration.
• OctaFX maintains a presence in a number of different nations across the globe. This includes OctaFX training and seminars offered in your area.
Why OctaFX is able to hire people from various areas across the world who are fluent in your native language and can connect with you more effectively.
OCTAFX Questions That Are Typically Asked
Read through our comprehensive OctaFX FAQ Section, which has been updated for 2022.
Can I get a feel for OctaFX?
You can test out the OctaFX platform with virtual trading using the demo account that the company provides. This can be done prior to making a financial commitment. Using OctaFX’s virtual trading platform exposes traders to no danger.
What kinds of deposits and withdrawals does OctaFX allow?
Please take into consideration that the following list of payment methods varies according to the OctaFX entity as well as the client’s country of residence.
The following forms of payment and funding are accepted by OctaFX: A variety of payment methods, including but not limited to credit cards, VISA, MasterCard, debit cards, bank transfers, electronic wallets (eWallets), Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, and FasaPay are accepted here.
Is it safe to use OctaFX?
OctaFX are considered to be risk-free because the Financial Conduct Authority oversees their operations and monitors their behavior for compliance (FCA). Any payments made by traders and deposited into their OctaFX accounts are kept in a separate bank account for safety. OctaFX uses tier-1 banks for this purpose, which provides an additional layer of security. The official measurement of a bank’s financial health and strength is referred to as Tier 1.
Is trading with OctaFX a good option?
Trading with OctaFX is recommended because of the company’s excellent reputation. Over 30,000 traders and other OctaFX users currently make use of the platform. OctaFX is a provider of forex trading services. OctaFX requires a minimum deposit of 5 dollars.
Is it safe to trade with OctaFX?
In 2011, OctaFX was established as a company in St. Vincent and the Grenadines. Since 2004, OctaFX has been acting as a mediator between buyers and sellers on the world’s financial markets. OctaFX clients have access to foreign exchange trading. OctaFX ensures the safety of your money by keeping it in separate bank accounts for each individual deposit. Because of its regulation by the Financial Conduct Authority (FCA), OctaFX can be trusted and is therefore legitimate.
Is OctaFX a reliable broker to use?
Since OctaFX is supervised by one of the most prestigious financial regulators, the Financial Conduct Authority (FCA), this company has the potential to be a reliable broker. Forex trading is available through OctaFX.
Is OctaFX a reliable broker to trade with?
The reliability of OctaFX cannot be questioned. All of the funds that are transferred to OctaFX are stored in a separate bank account. This indicates that OctaFX does not directly hold any of your funds. Because the broker does not have direct access to your funds, it is impossible for them to steal your money. In addition, the Financial Conduct Authority oversees OctaFX’s operations (FCA).
What is the lowest amount that OctaFX will accept as a deposit?
OctaFX requires a minimum deposit of 5 in order to trade with them.
How long does it take to withdraw from OctaFX?
Processing time for money withdrawals from OctaFX can range anywhere from two days to five days on average, depending on the method chosen.
Is OctaFX subject to regulation?
The Financial Conduct Authority is in charge of overseeing OctaFX’s operations (FCA). As part of OctaFX’s efforts to keep their regulatory status in good standing, various regulatory organizations perform routine assessments and audits. On the websites of the regulatory agencies, additional information regarding these reviews is available.
Is OctaFX considered to be a market maker?
OctaFX is considered to be a market maker. Even if there isn’t another buyer lined up, OctaFX is going to go ahead and acquire stocks, currency, and other commodities and securities.
What are the steps I need to take to begin trading with OctaFX?
You will be required to sign up for an account with OctaFX here in order to start a trading account with them. After you have made a deposit, provided your identification documents to have your account validated, and got your login details through email, the following step is to download the trading platform of your choosing.
Is it safe to use OctaFX with my money?
The Financial Conduct Authority is in charge of overseeing OctaFX’s operations (FCA). When picking a broker like OctaFX, one of the most crucial factors for traders to consider is the regulatory body that oversees the broker as well as the regulatory status of the broker. Brokers who operate their businesses in a manner that is not governed by any regulations do so at their own discretion, which poses a direct threat to the safety of their customers’ funds.
Because of the laws that are in place, it is extremely unlikely that regulated brokers will attempt to manipulate market pricing. This will be honored by OctaFX when you submit a request to withdraw money from your account. They risk having their regulated status revoked if they break any of the rules that govern the industry.
Is OctaFX a rip-off or not?
OctaFX has been in the foreign exchange market for more than 11 years, making it a regulated and well-established company. OctaFX is not a scam in any way.
Is it possible to earn money using OctaFX?
Despite the fact that traders have enjoyed a great deal of success with OctaFX. OctaFX’s participation in the financial markets does not constitute a get-rich-quick program. Your chances of being successful in trading will significantly improve if you acquire relevant knowledge, make use of a practice account, and organize your activities meticulously in advance. Never risk money that you can’t afford to lose when you trade. Losses can outweigh deposits.
Is there a cost to use OctaFX?
OctaFX does not impose any costs associated with withdrawals. OctaFX does not impose any inactivity fees on its users. OctaFX doesn’t impose deposit fees.
When was OctaFX first established?
OctaFX was established in the year 2011.
What percentage of people make use of OctaFX?
Over 30,000 people have signed up as OctaFX users, and many of them use the program.
Which nation is home to OctaFX’s headquarters?
St. Vincent and the Grenadines is the location of OctaFX’s primary office and headquarters.
Does OctaFX provide protection against a negative balance?
OctaFX provides protection against a negative balance. Traders are protected against losses that are greater than the amount they have deposited using negative balance protection.
Is there a guaranteed stop loss option with OctaFX?
OctaFX provides customers with guaranteed protection against stop loss. Risk can be controlled by using protection known as guaranteed stop loss. Traders are required to complete your transaction at the price that you have selected. Only during market hours and under normal trading conditions are guaranteed execution prices for stop-loss orders.
Does OctaFX permit scalping of trades?
OctaFX allows scalping of trades.
Does OctaFX provide hedging of positions?
Hedging is available through OctaFX.
Does OctaFX facilitate trading in CFDs?
CFD trading is available through OctaFX.
Is STP available through OctaFX?
OctaFX clients have access to STP trading.
What percentage of people make use of OctaFX?
Over 30000 traders and OctaFX members have signed up to use the platform.
Is OctaFX a broker that uses an ECN?
Trading via ECN is not available with OctaFX.
Is a demo account available through OctaFX?
OctaFX provides a demo account to its users.
Is there the option to open an Islamic account with OctaFX?
OctaFX clients have the option of using an Islamic account.
What kinds of financial support does OctaFX accept?
Please be aware that the funding methods and funding alternatives that are available with OctaFX may be found in the OctaFX Members section. These funding methods and options also vary depending on the client’s country of residence when using OctaFX. Please visit the OctaFX website to confirm the precise payment methods that are accessible to you. Credit cards, VISA, MasterCard, debit cards, bank transfers, electronic wallets (eWallets), Neteller, Skrill, Fasapay, UnionPay, Bitcoin, BCA, Mandiri, BNI, BRI, and FasaPay are the types of debit and credit cards that OctaFX accepts as financing options.
