It’s a new skill-set for many, but it is what the market requires of you. Let’s say for example you buy ten thousand dollars worth of General Electric using contracts for OctaFX Broker Review difference using the OctaFX trading platform. So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account.
By entering MetaTrader4, traders can easily capitalize on spreads up to 14 points lower. Our OctaFX Broker Review has found that they have followed the standard road map for a broker aiming to break into the market to some extents. Please leave your comments at the end of this review to help us improve but more importantly help other traders make informed choices. In addition, there is a range of literature and videos aimed at supporting traders as they get used to the site.
And if you’re willing to try something a little different you’ll be pleased to learn that cTrader is another option. cTrader is comparatively new, but has so far managed to gain quite a following. Both platforms are available for desktop, laptop, and mobile devices. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface. live chat operating 24/5 or an email (email support works 24/7, by the way), and ending with trading conditions such as spreads which are considered one of the highest on the market.
Trading Conditions And Platforms
While the trading conditions offered by the brokerage are indeed decent, its tradable asset-selection could be better. There are three account types available at OctaFX, defined mostly by the platform on which that have been made available. The spreads are the tightest on popular FX pairs, such as the EUR/USD. With the minimum set to 0.4 pips, one has to bear in mind that the spreads are variable, and as such, they may indeed far exceed the minimum mark. Detailed information in this regard is available on the Trading Conditions page of the OctaFX website.
From this point of view the Forex broker can be considered a pattern. In 2014, he was named the best ECN broker in Asia, as well as the best broker in Central Asia, a platform with «the best trading conditions in 2016». A separate page on the website octafx.com contains at least nine awards received by the project from 2012 to 2017. The Pro account is based off the MT5 platform and it requires a minimum deposit of $500. The tradable asset selection is a tad more varied and hedging, scalping as well as the use of EAs are allowed.
- OctaFX.com and OctaFX.eu represent the OctaFX brand but are separate legal entities through the applicable regulation.
- That said, we always ask our customers to contact us directly in similar cases or with any questions and allow us extra time to look into them.
- OctaFX has built a solid reputation in the forex/CFD trading space.
- As part of our OctaFX review we review customer service options, response times and OctaFX trading platform problem resolution effectiveness.OctaFX support a limited number including English.
- The broker offers bonuses and regularly holds contests on demo accounts, the winners of which receive real, not virtual, money.
- We also bring you the most comprehensive forex broker reviews.
Robo and copy trading, in particular, are both areas where they appear to be aiming to gain an advantage over the rest of the market. OctaFX seems to be highly committed to ensuring an excellent result in customer satisfaction and client retention. OctaFX is considered good and reputable to trade with OctaFX.
This company provides most recent, advanced and suitable financial market services to individual and institutional investors from more than 100 countries across the world. The most popular and highly reliable MetaTrader 4 platform is part of the standard offer at OctaFX. This platform is fully equipped with all the necessary elements for undisrupted trading. This highly-rated technological software comes with an appealing design too.
Octa Fx Is Often Compared With
I think a deposit of $100 is quite acceptable because I am sure that there is simply no point in starting trading with a smaller investment. The broker regularly holds contests among traders on both demo and real accounts. Only Foreign exchange reserves beginners are unlikely to be able to use them since the requirements for the mandatory trading volume are quite high. OctaFx takes the sole discretion to charge any amount of fee from the trading account of the investor.
Please note that our Financial Department is working hard to ensure that all payments are processed on time. Nevertheless, certain holdups are possible with bank transactions, and it may take a while to investigate such matters. That said, we always ask our customers to contact us directly in similar cases or with any questions and allow us extra time to look into them. Looking into your review, we’ve found that an issue occurred while processing your payment, and it was automatically bounced back as a refund. Since you already reached out on May 24 to let us know that your funds returned, we can assume that the issue was resolved simultaneously.
Full Review
Covering your questions, we regret that you had trouble withdrawing your funds. We’ve looked into your review and found that before withdrawing via Etherium, you previously deposited mostly via local banks. Please note that at OctaFX, your deposit and withdrawal methods must match, and our team explained it to you in chat. Shortly after, you deposited via Etherium but requested a withdrawal via Bitcoin, and it was rejected for the same reason. Your subsequent withdrawal via Etherium was successfully processed, though.
Lovers of football will be pleased to know that OctaFX is currently the sponsor of Southampton Football Club. For those who aren’t swayed by a sporting connection you’ll be happy to learn it is licensed and regulated to offer its financial services in many countries around the globe. OctaFX is the brand name of Octa Markets Incorporated, and the company was first registered in 2011. Headquarters are in St Vincent eur and the Grenadines, and OctaFX acts in compliance with international regulations and legislation. Due to these lower spreads, the currency pairs will face a reduction and help create a beneficial trading environment. Customer support for mobile trading is of a high level and can also be accessed 24/5 via a live chat function. Access to these resources is provided to both Demo and Live account holders.
If you have any questions, please contact us directly, and we’ll be happy to help. Customer support is available 24/7 and is best reached via live chat or Telegram. A webform is equally accessible, and traders may alternatively call. OctaFX ensures swift access to a customer services representative in case the unlikely need for additional assistance arises. OctaFX grants traders a comprehensive analytics section under Trader’s Tools. It consists of eleven sub-categories and a user-friendly design.
How We Rank Deposit & Withdrawal Options
The content in this OctaFX review does not apply to US users. Withdrawals can be made from logging into the OctaFX Personal Area and selecting the Withdraw option. Accounts need to be verified before withdrawals can take place and are subject to varying minimum amounts, albeit commission-free. While the majority of tools cannot be accessed from the Web Trader or Desktop platforms, they are easy to navigate towards on the OctaFX.com website. For example, according to the broker’s statement, the typical spread on EUR/USD on the MT4 Micro Account is 1.1 pips, the MT5 Pro Account is 0.5 pips and the cTrader ECN Account is 0.7 pips. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about.
As for the withdrawal options, there is a minimum amount of 5USD required. Traders will need to define their accounts by verifying their name and location; this is done effectively and efficiently through the OctaFX Personal Area.
Octa Fx General Information
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. All reviews of OctaFX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders. Tight spreads from 0.6 pips and no non-trading commissions from the broker Retail foreign exchange trading for deposits or withdrawals of funds. We are extremely sorry to read that you are unhappy with our services. Providing our clients with the most convenient and friendliest service is our goal and aspiration. Therefore, we’d like to understand what made you feel uncomfortable and resolve any issue you have faced.
