OctaFX

  • Name:OctaFX
  • Website:http://www.octafx.com/
  • Location:Saint Vincent and the Grenadines
  • Found in:2011
  • Regulation Authority:
Editorial Rating:
3.99
Accept US Traders:
No

OctaFX Review

About OctaFX

In 2011, Octa Markets, Inc. was registered as a Forex brokerage business in Saint Vincent and the Grenadines. All OctaFX regulation is provided by the authorities of Saint Vincent and the Grenadines. The company now offers Forex services to clients from more than 100 countries. OctaFX allows clients to trade on the Forex market through the Internet.

Octa Markets, Inc. markets OctaFX as a "client-oriented company" with competitive spreads and incentives that encourage participation. The current OctaFX welcome bonus allows you to collect up to 50% of your deposit amount as long as you deposit into a verified account. No IB commission is paid when trading with your bonus funds, and there are other rules that may apply to how you spend this bonus money.

While the OctaFX rebate is tempting, make sure to read the rest of this OctaFX review before you decide that this is the right trading platform for you. Compare the available account types and details for each of those accounts so that you can make an educated decision.

OctaFX Trading Specifics and Spread

OctaFX allows Forex trading through ECN or micro accounts. 

The typical OctaFX spread is 0.6 pips for EUR/USD and GBP/USD trades. That applies to both ECN and micro accounts, though current OctaFX spreads may vary at any given time.

OctaFX Spread Info

Spreads under 1 pip are advantageous to traders, and this is a benefit of using this trading platform. The spreads charged always start at 0 pips whether you open an ECN or micro account. Leverage can go up to 1:500 on both types of accounts.

OctaFX Video Review

Check out this compact 3-minute video review of the platform, software, features and spread info at OctaFX.  As always, created independently at the FxBrokerSearch Video Studios.  

OctaFX Trading Platform Review

When you purchase an OctaFX download, the available platform is Metatrader 4 for the PC. There are other platforms available for various mobile devices. You can access charting tools, scripts and market indicators in addition to making trades on any of these systems.

OctaFX Platform Preview.

OctaFX Mobile Trading

It is clear that this company caters to busy clients who want to analyze the market and make trades while away from home or out of the office. There are three platforms available for mobile devices. One works exclusively with iPhones and iPads, one works exclusively with Android systems, and one works exclusively with Windows mobile devices.

OctaFX Mobile Preview:

OctaFX Mobile Preview #1  OctaFX Mobile Preview #2

All of these mobile trading platforms allow you to make trades while on the go, but they may come with different trading tools. You may get some trading tools with the OctaFX download for the PC that are not available through some of these mobile platforms.

OctaFX Currency Information

There are 12 currency pairs available for OctaFX micro accounts and 28 currency pairs available for ECN accounts. You can also trade gold and silver through either of these account types.

If you want to get comfortable with the trading platform or test your trading skills before jumping into a new account, you can start out with a demo account.

Account Types at OctaFX

There are currently two types of trading accounts offered by OctaFX:

 

Minimum Deposit

Order Volume

Scalping & Hedging

Margin Call/Stop Out Levels

Leverage

Micro Account

$5

Minimal 0.01 lot, maximal 10 lots, step is 0.01

Allowed

When account margin level reaches 25% / 15%

Up to 1:500

ECN Account

$50

Minimal 0.1 lot, maximal unlimited, step is 0.1

Allowed

When account margin level reaches 25% / 15%

Up to 1:500

Deposits and Withdrawals

You can deposit funds into your account and withdraw funds from your account through any of these payment methods:

  • Bank wire (100 USD/100 EUR minimum; up to $30 bank commission)
  • Visa/MasterCard (no fees)
  • UnionPay (no fees)
  • Indonesia local banks (50000 IDR minimum; no fees)
  • Neteller (50 USD/35 EUR minimum; no fees)
  • MoneyBookers (50 USD/35 EUR minimum; no fees)
  • CashU (no fees
  • Internal transfers (no fees)

Withdrawal requests are typically completed within one hour during set office hours. There is a minimum withdrawal threshold of $5 for both account types. The minimum withdrawal amount is $100 if you request a bank wire withdrawal.

Risk Disclosure: fxBrokerSearch.com will not be held liable for any financial loss or damage caused by users acting upon any information contained within this website, not limited to and including: all numerical data, quotes, charts and buy/sell signals. Moreover, please be advised that Forex trading is one of the most volatile investment forms in the world and all trades should be placed with full consideration of the risks and costs.

fxBrokerSearch.com does not support nor encourage the execution of any investments. Trading with a margin is high risk endeavour and not suitable for everyone, therefore, each investor should carefully consider all relevant trading conditions, such as experience, risk and cost, before taking part in any type of trading, including Forex.

While every effort has been made to ensure all our data is as accurate as possible, fxBrokerSearch.com cannot be held responsible for any prices that are not in line with real-time data. Indeed, the currency exchange market is constantly changing and all CFDs (stocks, indexes, futures) and Forex prices are set by market makers.

This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

Based on these conditions, fxBrokerSearch.com will not be held responsible for any losses incurred through trades conducted in light of data presented on this site.