OctaFX Commission or Brokerage Charges – Review, Plans, FAQs & more
In this article, we will look into OctaFX Commission or Brokerage Charges.
OctaFX is on the rise in the trading sector. The platform has always been a popular pick for being the best forex and CFD broker.
Thanks to the features and potent integrations that engage users with the OctaFX Forex Broker.
But now, you will learn about the OctaFX trading commission, as it is the most valued segment that traders never fail to recall.
Before you get started with a trading account at OctaFX, make sure you also review the same.
Even though OctaFX isn’t that costly alternative to start trading with, still, at certain points, the broker seems less merciful.
Hence, below we share detailed information on the OctaFX Fees that this trading platform charges from its users. So let’s get started.
OctaFX Commission or Brokerage Charges
OctaFX is an award-winning broker that builds a strong repo in the trading sector for its excellence. The broker caters to the varying needs of traders.
Though commission rates at OctaFX vary depending on the asset you pick. OctaFX enables you to trade your favorite assets once you submit a 100 dollar least deposit amount.
The upper limit for deposit amount depends upon the trader’s own choice.
The type of commission to be charged from the traders is subjected to the type of account they choose. Pro account users are asked to submit 500 dollars as the least deposit amount.
Though the trading is commission-free, you can’t proceed without submitting the deposit amount.
Apart from that, the deposit is free of charge, and withdrawals are also nearly free except for bank transfers and foreign exchange if you are trading in the forex market via the OctaFX trading platform.
Besides, if you choose the cTrader account, you will be charged 0.03 USD per lot.
Rollover charges are a major concern when trading with the OctaFX trading platform.
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Types of OctaFX Commission Plans
|Types of Commission Plans|
|Initial Deposit||100 USD||$100||100 USD|
|Spread||0.6 pips||0.6 pips||0.8 pips|
|Commission||No commission, markup||No commission, markup||Commission markup|
Traders at OctaFX brokers don’t incur similar charges.
It is a game of trading accounts. In other words, the OctaFX Charges vary from one trading account to another trading account.
To simply put, the OctaFX trading platform offers MT5, MT4, and cTrader trading accounts.
Users can enter the desired trading account based on their preferences for tradable assets.
Traders can access the desired trading account by submitting the minimum deposit amount that is 100 USD in both MT5 and MT4 trading accounts.
At the same time, you are required to submit 500 USD using a cTrader account.
MT5 and MT4 trading platforms provide the user’s access to 1:500 leverage. Spreads are also around 0.6 pips in both trading accounts.
Though cTrader or ECN account offers you only 1:200 leverage, and spreads are around 0.8 pips.
But unlike MT4 and MT5 trading accounts, commissions are charged on trading with the cTrader account.
In addition to this account, no commission is charged on trading at the OctaFX trading platform, which makes it certain that a user can start stress-free trading.
OctaFX Account Opening Process
The account opening process at OctaFX online trading platform is quite straightforward.
Only needed your log-in details with ID proof to qualify for the EKYC process, and here you go.
Let’s have a look at the steps mentioned below to get started with the OctaFX online trading platform.
- Begin with a basic log-in step. Enter your email id, and set a strong password.
- Click on the Next button, and here you are required to qualify for the eKYC.
- Submit your personal details, including bank details and home address.
- Submit the minimum deposit amount, or pay for the OctaFX Brokerage if you choose the cTrader account.
- In the end, you will be redirected to your trading account, from where you can view your assets and entire trading activity.
Even though OctaFX Commission is almost zero still not every asset comes free of charge. These assets can be anything from crypto-currency, forex or stocks.
Hence, before you check in to your account and end up purchasing assets, make sure you don’t forget to catch a glimpse of OctaFX fees.
Traders can even take the help of leverage to generate a return more than what they invest. But it makes a bit of a risky deal, so proceed with leverage only until you know the pros and cons of choosing it.
Apart from that, the account opening process will be similar if you want to access the OctaFX trading account on mobile.
OctaFX Payment or Withdrawal Methods
|Deposit Options||Cryptocurrencies, FasaPay, Neteller, Ngan Luong, Skrill, Wire Transfer|
|Withdrawal Options||China UnionPay, Cryptocurrencies, FasaPay, Neteller, Skrill, Wire Transfer|
The major payment gateways provided for monetary transactions at OctaFX may directly affect the return amount you generate from a trade.
For instance, if heavy expenses are involved with a transaction, you are more likely to lose a big bite of your treat.
Here are the most common payment modes you can choose to make payments or withdraw from the OctaFX trading platform.
Make Payments: Crypto-currencies, FasaPay, Neteller, Ngan Luong, Skrill, Wire Transfer
Withdraw Amount: China Union Pay, Crypto-currencies, Fasa Pay, Neteller, Skrill, Wire Transfer
Usually, transactions are processed within 1 to 3 hours, but it also depends upon the region and country you live in.
However, no OctaFX Brokerage is charged on deposit which is the coolest thing. Also, a trader can withdraw any amount from their portfolio as no max limit is set.
Traders from India, Indonesia, Thailand, or other Asian countries can even choose bank transfers. The best thing is transactions go like a breeze.
As soon as you request payments or withdrawals, the sooner your amount reaches its destination.
OctaFX Investment Assets
|Supported Cryptocoins||bitcoin, ethereum, litecoin|
|Total Tradable Assets||0|
|Number Of Currency Pairs||28|
|Number Of Cryptocurrencies||3|
|Number Of Stocks||0|
|Number Of Indices||10|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
OctaFX offers some of the popular tradable assets on its trading platform.
Traders can get their hands on the desired assets and generate profits out of them in no time. Let’s see what types of investment assets are available for trading at the OctaFX trading platform.
- Currencies Trading- 28Number Of Currency Pairs
- Commodities Trading – includes spot metal trading
- Indices Trading- enables you to trade 10 CFD indices
- Cryptocurrency Trading- bitcoin, ethereum, litecoin
- Stocks Trading
OctaFX Commission – Conclusion
In this review, we got brief information about OctaFX Commission plans and how it varies from one account to another.
You can select between OctaFX MT5 to OctaFX MT4 for an affordable trade. At the same time, you can also choose a cTrader or ECN account if you carry an extra budget for investment.
However, MT5 and MT4 are free of OctaFX Charges, but cTrader is not.
For more information about the fees and commission structure, visit OctaFX’s official website to get detailed insight into the commission and fees charges.
OctaFX Charges or Fees – FAQs
Here are the few FAQs related to the OctaFX Brokerage Charges or Fees:
Does OctaFX Charge Commission?
OctaFX is a free trading platform as the broker doesn’t charge any commission from its users.
Charges are exempt from trading via MT5 and MT4 trading platforms. But charges are applicable if you choose the cTrader account.
How much does OctaFX Charge Brokerage?
OctaFX doesn’t charge any brokerage from its users.
Traders can trade their favorite assets free of charge.
But in most cases, the assets you trade invite some unforeseeable charges, and you must be aware of that.
Also, rollover charges exist on trading via the OctaFX trading platform.
What Is The Minimum Deposit Required In OctaFX?
Traders can start trading at the OctaFX trading account by submitting a minimum deposit amount of $100 only.
If you fail to meet the minimum deposit requirement, the broker would deny granting you any access to the trading account.
Thus, make sure you are ready with 100USD before you check in to your trading account.
How Much Leverage Does OctaFX Provide?
The leverage ratio at the OctaFX trading platform varies.
For instance, the MT4 trading platform offers 1:500 leverage, MT5 also offers 1:500 leverage except for cTrader offering 1:200 leverage.
Traders can also choose the limit for leverage as the broker doesn’t force traders to select it explicitly or implicitly.
How Much Is Spread At OctaFX?
The spreads at the OctaFX trading platform start from 0.6 pips in MT4, MT5 and go up to 0.8 pips.
What Type Of Commission Plans Are Available In OctaFX?
Though, the OctaFX trading platform has no direct commission plan.
Most traders enjoy free trading at this fantastic online trading platform. Still, not every asset and activity is free of charge.
For instance, OctaFX charges rollover commission, a direct commission from cTrader account users.
In addition to these charges, few commissions have been kept fixed. Learn more about it on OctaFX’s official website.
Do OctaFX Provide Crypto-currency For Investment?
Traders excited to start crypto-currency trading can step into the OctaFX trading platform.
Though the broker doesn’t offer an extensive list of digital currencies to begin investing in, you can still see major crypto-currency on hand.
Such as you can trade bitcoin, ethereum, and litecoin via OctaFX.
Is OctaFX A Legit Forex Broker?
Yes, OctaFX is a 100% legit online broker.
The platform works under the regulation of CySEC, which makes it a fully reliable trading platform.
The broker has been up and running in the trading industry since 2011, which makes it a trusted source for traders.
Can I Invest In OctaFX With $5?
Yes, traders can start trading at OctaFX with $5 only. But before you are required to fund your account with a minimum deposit amount, which stands at $100.
If you are uncomfortable depositing such a big amount, then you may leave the idea of using OctaFX right away.
Instead, you can go with other cheap alternatives that also work well for traders.
Are There Any Hidden Charges Available With OctaFX?
OctaFX doesn’t charge any commission from its traders except for a few assets.
But it is unclear whether any hidden charges are involved in trading via OctaFX because every trading platform charges a significant fee so they could pay off the expenses incurred on trading services.
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