OctaFX stands tall as one of the most renowned names in the realm of brokerages. With an impressive count of over 1.5 million live trading accounts, this brokerage came into existence in 2011 and proudly operated from Saint Vincent and the Grenadines.
But that's not all; OctaFX has established a second operational base nestled in the heart of Jakarta, Indonesia. Moreover, across the European continent, the brokerage operates as Octa Markets Cyprus Ltd, strategically positioned in Limassol, Cyprus, and regulated by CySEC.
Now, let's dive deeper into the remarkable journey of this broker, uncovering the numerous accolades it has earned and the monumental growth it has achieved.
| Accounts | Currencies | Min. deposit | Leverage | Starting Spreads | Demo Account | Rollover Free | Decimal Pricing | Commission per trade | Max. Lot Size Per Trade | Min. Lot Size Per Trade |
|---|---|---|---|---|---|---|---|---|---|---|
| OctaTrader | 32 currency pairs | $25 | Forex 1:500 (ZARJPY 1:100) Metals 1:200 Energies 1:100 Indices 1:50 Crypto 1:25 | 0.6 pips | Yes | Yes | $0 | 50 lots | 0.01 lot | |
| mt5 | 32 currency pairs | $25 | Forex 1:500 (ZARJPY 1:100) Metals 1:200 Energies 1:100 Indices 1:50 Crypto 1:25 Stocks 1:20 Intraday assets 1:200 | 0.6 pips | Yes | Yes | $0 | 500 lots | 0.01 lot | |
| mt4 | 32 currency pairs | $25 | Forex 1:500 (ZARJPY 1:100) Metals 1:200 Energies 1:100 Indices 1:50 Crypto 1:25 | 0.6 pips | Yes | Yes | $0 | 200 lots | 0.01 lot |
| Broker Type | Minimum Deposit | Forex Majors Spread | Maximum Leverage | Min. Trade Size | Scalping | Hedging | Free Demo | USA Traders |
|---|---|---|---|---|---|---|---|---|
| ECN | 20 | 0.1 | 500:1 | 0.01 lots | Yes | Yes | Yes | No |
When it comes to trading platforms, OctaFX undoubtedly takes the lead with its extensive range of options, including:
Let's explore each platform in more detail.
MT4 stands out as one of the most versatile and user-friendly trading platforms available. It offers a wide array of features, including the ability to use personalized Expert Advisors (EAs), over 30 trading indicators, advanced charts and graphs, market trends analysis, and much more! It's important to note that OctaFX exclusively provides the MT4 platform to its non-EU clients.
On the other hand, MT5 is accessible to all traders and is renowned as a next-generation platform for its exceptional performance and speed. MT5 offers over 8 pending orders, more than 44 analytical tools, various trading indicators, trading calendars, comprehensive trend analysis, and more!
In addition to MT4 and MT5, OctaFX also offers a web trader platform that is tailored for both MT4 and MT5 users. Furthermore, traders can access cTrader, a specialized platform designed specifically for Forex and CFD trading. cTrader boasts over 26 trading charts, more than 70 types of technical indicators, a wide range of timeframes, and numerous other features.
OctaFX provides mobile trading apps for both Android and iOS devices, supporting MetaTrader 4 and cTrader platforms. Although the mobile trading app is highly customizable, it is worth noting that MT4 support is not available on this app.
| Feature | OctaFX |
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Alerts - Basic Fields | Yes |
| Watch List | Yes |
| Watch List Syncing | No |
| Charting - Indicators / Studies | 30 |
| Charting - Draw Trendlines | Yes |
| Charting - Trendlines Moveable | No |
| Charting - Multiple Time Frames | Yes |
| Charting - Drawings Autosave | No |
| Forex Calendar | Yes |
Source:Forexbrokers.com
In summary, OctaFX offers a seamless trading experience on both cTrader and MT4 platforms, making it an excellent choice for traders seeking quality and versatility.
OctaFX offers a wide selection of market assets, ensuring that traders have access to an extensive range of trading options. Here are the key categories and assets available:
With this diverse range of trading assets, OctaFX ensures that traders have access to various markets and instruments to suit their trading preferences and strategies.
OctaFX, also recognized as Octa Markets Ltd, is a reputable brokerage company specializing in Foreign Exchange. It operates under the supervision of one of the most stringent regulatory bodies, CySEC. This regulatory authority empowers OctaFX to provide secure and reliable trading services to its clients. Operating under license number 372/18, OctaFX is headquartered in St. Vincent and the Grenadines.
In addition to CySEC regulation, Octa Markets Ltd is also subject to oversight by the Financial Services Authority (FSA). Although the FSA is not primarily known for regulating Forex brokers, OctaFX ensures that its clients enjoy negative balance protection, offering an additional layer of security for their trading activities.
| Supported Languages | English, Indonesian, Chinese, Malay, Portuguese, Spanish and Thai |
| Customer Service By | Live Chat, Email |
| Service Hours | 24/7 |
| Email Response | support@octafx.com |
| One Click Trading | Yes |
| Stop Order | Yes |
| Limit Order | Yes |
| Trade off Charts | No |
| Market Order | Yes |
| 24hr Trading | Yes |
| Email Alerts | Yes |
| Trailing Stop Order | Yes |
| Charting Package | Yes |
| Mobile Alerts | Yes |
| OCO Orders | Yes |
| Streaming News Feed | Yes |
Account Types and Spreads:
OctaFX offers three distinct types of trading accounts tailored for retail market traders:
It's important to note that all trading accounts provided by OctaFX have a minimum trading volume of 0.01 lots.
The variations between these trading accounts lie in the spreads, available assets, and deposit amounts. The Micro and ECN accounts require a minimum deposit of 100 USD, while the PRO trading account has a minimum deposit requirement of 500 USD.
Additionally, OctaFX provides Islamic swap-free accounts, ensuring that Muslim traders can engage in trading without concerns related to halal or haram practices.
OctaFX is recognized for its competitive spreads, and they continue to deliver on that expectation. For example, they offer around 0.7 pips for EUR/USD, 2 pips for XAU/USD, 3.5 pips for NAS100, and 3.1 pips for BTC/USD. Moreover, they also offer fixed spreads accounts for MT4 trading accounts.
In terms of leverage, OctaFX provides up to 1:500 leverage for currency trading in MT4 accounts, while in MT5 accounts, it is set at 1:200. However, it's important to note that for European traders, the leverage rate is limited to 1:30 to comply with regulatory requirements.
Competitive spreads and transparent pricing are important factors for traders when choosing a broker. OctaFX offers tight spreads starting from 0 pips for certain account types, ensuring that traders can execute trades at favorable prices. Additionally, the broker operates on a commission-based structure for ECN accounts, which allows for greater transparency in pricing.
The available transaction methods offered by OctaFX may vary depending on your country of residence. Generally, OctaFX supports the following methods:
However, the specific availability of these methods may differ based on your country.
For traders from Thailand, India, and Nigeria, OctaFX provides local bank transactions as an additional option for depositing and withdrawing funds.
It's important to note that the minimum deposit or withdrawal amounts vary depending on the chosen method. For Perfect Money, the minimum amount is 5 USD. For BTC and bank cards, the minimum deposit or withdrawal amount is 50 EUR or its equivalent in other currencies.
OctaFX does not charge any commissions for transactions, except when using Perfect Money, which applies a 0.5% fee on deposits. The withdrawal process for Perfect Money typically takes 1 to 3 hours to complete.
Please bear in mind that the availability and specific details of transaction methods may be subject to change and may vary based on your country of residence.
Yes, simply switch on the Islamic option when opening a new trading account. Please note that swap-free accounts do not offer any benefits over regular accounts. There is a fixed fee for using swap-free accounts.
Commission = pip price * swap value of the currency pair.
The fee does not count as interest and depends on the direction of the position (i.e. buy or sell).
MT4 and MT5 trading hours are 24/5, starting at 00:00 on Monday and closing at 23:59 on Friday server time (EET/EST). cTrader server time zone is UTC +0, however, you can set your own time zone for charts and trading information in the right bottom corner of the platform.
3 hours
We usually process withdrawal requests for 1–3 hours, but it's up to your payment system how long it will take the money to reach the destination. For different local banks, these limits may vary.
Open MT4, then click "File" > "Login with trading account". In the pop-up window, enter your account number, trader password and select "OctaFX-Real' for real accounts or "OctaFX-Demo" if you log in with a demo account.
OctaFX offers CFDs on 10 of the most popular indices, including Dow Jones, NASDAQ, Nikkei, and EuroStoxx.
OctaFX trading servers are in London. OctaFX has a wide network of servers and data centers located throughout Europe and Asia that ensures low latency and stable connection.
OctaFX is one of those Forex brokers that have an excellent reputation in the financial markets due to their unique service offering, which caters to the different requirements of a wide variety of retail traders.
Please note: Make sure your credentials match your documents as you'll be asked to confirm your personal data during verification. Please also bear in mind that since you can only use your own bank account, credit/debit card, or e-currency wallet, your personal info should match the account or cardholder's name as well.
OctaFX values its clients and provides 24/7 effective and active customer support to ensure they receive the best assistance. If you wish to contact OctaFX, you have various options available:
You can reach out to OctaFX by sending an email with your queries or concerns. Their dedicated support team will respond promptly.
Engage in a live chat with the OctaFX support team directly through their website. This enables you to get real-time assistance and quick responses to your inquiries.
Additionally, OctaFX maintains an active presence on social media platforms. By following their social media pages, you can stay updated on bonuses, promotions, and other important information.
OctaFX strives to provide comprehensive customer support, ensuring that clients have multiple channels to connect with them and receive the assistance they require.
OctaFX is a reliable and reputable brokerage firm that provides traders with comprehensive trading experience. With its diverse range of account types, user-friendly platforms, competitive pricing, and dedicated customer support, OctaFX is well-positioned to cater to the needs of both beginner and experienced traders. Whether you are looking to trade forex, commodities, indices, or cryptocurrencies, OctaFX offers a wide range of trading instruments to choose from. Take the opportunity to explore OctaFX and enhance your trading journey today.
Our User Reviews Section is a great way to learn more about our brokers and services from people who have already used them. We encourage our customers to leave honest feedback about their experiences, so that you can make an informed decision about whether or not to purchase from us.
| Zimbabwe
12 Nov, 2024
| Italy
The desktop interface is great, but the mobile app for AssetsFX needs work. It’s a bit glitchy and lacks some features. Fixing the mobile experience would make trading on the go much better.
26 Aug, 2024
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