OctaFX Review – Online Platforms, Commission, Leverage, Account Types, Features & more
Over the last few years, the platform has gained amazing traction in the market. Therefore, in this review, we’ll try to take a glimpse of the OctaFX background.
These days, traders are shifting their interest more towards online trading brokers. Hence, plenty of leading brands are coming into the queue one by one to fulfill this emerging desire of traders.
Of course, OctaFX is one of them. Though, it isn’t right to call OctaFX an emerging online trading platform.
It’s a well-established platform fulfilling the trading requirements of the traders for a long time.
We will discuss things in this article, like what makes this online broker the best trading tool for traders.
Which trading style does it follow? With a look into its best features, everything we’ll cover right over here.
Recently, if an idea strikes in your mind to start trading via a reliable and effective trading platform, keep an eye on this OctaFX review.
Perhaps this online trading platform proves to be a thing you have been looking for for a long time.
About OctaFX & Accepted Countries
The world was first introduced with the OctaFX trading platform in 2011.
And it’s worth mentioning that since its foundation, the platform has built a solid presence in the trading industry, mainly in Forex/CFD trading assets.
Though other platforms offer you a great range of tradable instruments, OctaFX doesn’t.
Hence, this slightest thing can be a shortcoming. Still, the high-end features make OctaFX a well-liked option.
The web-based platform of OctaFX runs under a top-tier security suite. Hence, a user can always feel safe and secure while trading.
It’s a user-friendly platform that allows the user to trade without facing any mind-boggling situation.
Though, most of the top-grade trading platforms focus mainly on the pro-level trader’s requirement. But this trading platform keeps every trader’s requirements in mind.
|Founder / CEO||Georgios D. Pantzis|
Thus, whenever you visit OctaFX, you enjoy easy trading, and that’s a plus point.
In the Asia-Pacific Region, OctaFX has built a strong client base. But that doesn’t mean that traders from other countries don’t trust OctaFX.
Globally from 100+ countries, traders are using OctaFX. Even this time, when you’re reading this OctaFX review, thousands of traders are active on this platform.
Open a Forex Trading Account Now! – Fill up the Form
OctaFX Trading Platforms
You can use OctaFX via three trading platforms- the cTrader Platform, Meta Trader 4, and Meta Trader 5 platform.
However, if you choose the MT 4 trading platform, you’ll be able to invest in only a limited range of asset classes.
On the other hand, if you trade using the MT 5 trading platform, you can get a broad range of tradable asset classes.
For instance-under MT 5, you can invest in 28 currency pairs, ten indices, four metals, three cryptocurrencies, and much more.
Still, for new traders, the MT 4 platform is quite the best choice. Meta Trader 5 platform serves extra to expert traders who often carry out an extensive trading analysis.
If we talk about cTrader, so it’s best for all kinds of traders. This trading platform solely focuses on trader’s convenience and provides them with a more flexible environment.
The platform is also customizable and offers lots of features that truly satisfy traders. The multiple trading platform offering brings a charming image of the OctaFX to light.
That’s why, for a long time, OctaFX continues to reserve its top position in the online trading atmosphere.
|Trading Platform||cTrader, MT4, MT5|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Chinese, English, German, Hindi, Indonesian, Malaysian, Portuguese, Spanish, Thai, Urdu, Vietnamese|
OctaFX Mobile App
Install the OctaFX Mobile App on your mobile devices, and get updates on your tradable assets.
Nowadays, more than a web-based trading platform, mobile trading is cropping up as a flexible option.
That’s why, if you’re planning to use the OctaFX trading platform, don’t forget to install the OctaFX mobile app.
Visit Google PlayStore or apple store, and download the app on your iPhone and Android Devices.
OctaFX Mobile App is getting positive reviews because of its fast execution modes and variety of order types.
Also, as per your preference, you can view the chart in three different styles (e.g., in bard, line, or candlesticks style).
With plenty of indicators and nine different timeframes, the platform empowers you to trade smartly.
However, the overall interface of the app is easy to use, and for a beginner, it is the best thing.
Alongside, you also get useful instructions and options that truly make the mobile platform quite a better option.
You don’t need to search for the OctaFX mobile separately in a search engine. Just install the app and manage your trading activities on your fingers.
Check out Mobile Apps of more Forex Brokers
OctaFX Commission or Brokerage
Now, let’s put light on the most critical thing, the commission, and fees that OctaFX charge from you.
In our OctaFX review, we’ve found the overall commission structure of this trading platform depends upon the account type you choose.
For instance- on a standard account, the spreads are slightly wide, around 1.1 pips for EUR/USD.
On the other hand, if you go with a bigger one, the spreads can be 0.9 pips. In a nutshell, OctaFX offers you a quite attractive price structure.
However, if you choose the cTrader ECN account, you find no mark-up on spreads. The commission can vary and based on your instrument choice, including the swap fee.
|Commission on trades||Yes|
OctaFX Exposure or Leverage
OctaFX brokers offer you three accounts- the MT4 Micro Account, the MT5 Pro account, and the cTrader account.
If you choose the MT4 micro account, you get maximum leverage up to 1:500 on a deposit of $100.
Similarly, if you choose MT5, you get 1:2 leverage with the access to 45 tradable instruments.
Though, to become a member of the Pro account, you’ll first have to make an initial deposit of $500. Deposits are commission-free in both types of accounts.
You can also open a cTrader account with a minimum deposit fee of up to $100, which is quite similar to the MT4 Micro account in terms of leverage.
The attractive leverage option really grabs the trader’s attention to head to the OctaFX trading platform.
|Maximum Leverage||Up to 1:500|
Payment Methods provided by OctaFX
OctaFX satisfies all those traders who wish to avoid unwanted charges on withdrawals and deposits. Yes, there’s no commission charged on deposit and withdrawal.
Other online trading platforms aren’t good in terms of these features: that’s why you can like the OctaFX trading platform.
Suppose we glance at the payment methods that OctaFX offers you. Feel free to use a credit card, debit card, e-wallets, or bank deposits.
Well, credit cards, Skrill, Neteller, and Bitcoin are quite better options for international clients, as they’ll process fast transactions.
Thus, you’ll never be facing any issues while funding your account or withdrawing payment.
|Deposit Options||Cryptocurrencies, FasaPay, Neteller, Ngan Luong, Skrill, Wire Transfer|
|Withdrawal Options||China UnionPay, Cryptocurrencies, FasaPay, Neteller, Skrill, Wire Transfer|
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by OctaFX
However, with OctaFX, you can invest in several asset classes using the three different account options.
For instance- the Meta Trader 4 Micro account allows you to trade 28 Currency Pairs, 4 Stock Indices, 3 Cryptocurrencies, and 2 Metals.
Similarly, if you choose Meta Trader 5 Pro account, you can trade 28 Currency Pairs, 10 Stock Indices, 3 Cryptocurrencies, and 2 Metals, and 2 Energy.
If you choose cTrader ECN, you can trade 28 Currency Pairs, 2 Metals. As you can see, traders can invest in a limited market that probably makes OctaFX, not a good option.
Still, the provided tradable instruments are famous with an attractive margin.
|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 Virtual Trading Account or Demo Account
Thanks to the demo account that helps you to get over the issues if you’re facing any.
Nowadays, in every online trading platform, you get a demo account. For new traders, it’s one of the most desired things.
Even for an expert trader who wants to choose another trading platform, the demo account is the first-doubt-clearing suit where you must sign in.
Similarly, few traders take more time to become familiar with the intricate account system of OctaFX.
Possible, you may encounter the same issue. That’s why always bear in mind not to proceed without experiencing the demo account.
It’s free and provides you with a glimpse of all the three premium accounts that OctaFX offers you. You get the dummy version of the Micro account, Pro Account, and ECN account.
In this way, you can get a quick insight into the strategy that you can use while trading. The virtual currency provides you with a realistic feel. So don’t forget to use the Demo account.
|Virtual Money||$ 10000|
OctaFX Offers or Deals
You can’t say “NO” to the attractive deals and bonuses if someone is offering you, even though you’re getting it in real life or at an online trading platform like OctaFX.
Since OctaFX provides huge offers to its clients, so that also becomes the key reason why people are increasingly using it.
For instance- OctaFX offers a 50% withdrawal bonus to its user on every deposit. Though, you can also win real cash using two demo contests.
You’ll get to know about all these deals and offers once you pay a visit to their official website.
In a nutshell, the platform has attractive offers to bring a smile to every trader face who chooses OctaFX for trading.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||No|
OctaFX Regulation or Licensing
OctaFX has a huge customer base of more than 1,500,000 traders, and the number is constantly increasing.
Though, it’s also surprising because OctaFX isn’t holding any license from the top-tier financial regulatory bodies.
It’s registered under CySEC, but it doesn’t make a fully regulated forex broker. Still, people trust this trading platform.
Since the OctaFX foundation, no fraudulent case has ever been encountered. It makes it special.
Also, the brand offers you negative balance protection, with enhanced security on various monetary operations. That’s why millions of people are engaging with OctaFX.
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
|FP Markets||FXPro||IG Group||Libertex|
OctaFX features are well-noticeable because the platform provides you with something different that you usually don’t see on other trading platforms.
For instance – the automated trading assistant gives relief to the manual trader. Also, OctaFX offers you a top-class educational portal: some of them were improved in 2017.
The most notable thing is, you can participate in weekly or monthly demo contests. It’s a golden chance for every trader to earn between $500 to $1000 within one shot.
Though, you can’t withdraw this amount, as it’ll be deposited directly in your live trading account.
Along with all these things, you also get plenty of attractive features on the OctaFX official platform.
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
OctaFX Account Types
Now, let’s glance at the account type that OctaFX offers you-
Meta Trader 4 micro account– Under this account, a trader can get maximum leverage up to 1:500 on a deposit of at least $100.
Meta Trader 5 Pro account– Under this account, a trader gets access to 45 tradable instruments on a deposit of $500. If we talk about leverage, so it’s just 1:200.
cTrader– It is a commission-based account that offers you leverage up to 1:500 on a minimum of $100 as a minimum deposit amount.
|Account Type||OctaFX MT5||OctaFX MT4||OctaFX cTrader|
|Initial Deposit||100 USD||100 USD||100 USD|
|Spread||0.6 pips||0.6 pips||0.8 pips|
|Commission||No commission, markup||No commission, markup||Commission markup|
OctaFX Account Opening Process
The account opening process is relatively easier at the OctaFX trading platform-
- Sign in by providing your name, email address, and set the password or continue with Google.
- Fulfill the requirements for account verification. ( Note: Keep the id proof and residence proof in hands and provide whenever asked)
- Fund your account and start trading.
OctaFX Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||ECN, STP|
|Maximum Leverage||Up to 1:500|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
OctaFX – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team :
|Daily Market Commentary||No|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
- Wide range of trading accounts (Micro, ECN, Pro, Sharia)
- Special attention to beginners and advanced traders’ choice
- Users can access Forex ECN with 1:500 leverage.
- Trade on MT4, MT5, and cTrader platform
- Mobile Friendly
- Access copy trading
- A wide range of research tools available
- Bonus promotions
- CySEC regulated only
- No individual Stock CFDs
- Limited commodity markets
- Limited deposit and withdrawal options
OctaFX Trading Hours
Invest in your favorite asset using OctaFX anytime, from anywhere. The platform remains 24 hours active, hence allows you to trade whenever you want.
Though, the original market timeframes sometimes can become a barrier for you.
Most of them don’t remain open throughout a day: that’s why it’s much better that you first take a glimpse of the original market timeframes.
Such as when it closes and opens so you can make entry and exit over the right time. Though, in this, OctaFX also assists you.
OctaFX Customer Care or Contact Details
Feel free to get in touch with the customer support team of OctaFX through the following contact channels-
- 24/5 Live Chat (Monday – Friday)
- Email: Get it from their website
- WhatsApp: +34 651 769 010
- Telephone: +442033221059
- Physical Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent, and the Grenadines.
Dedicated Dealer Yes Support During Weekends No Online Trading Yes 24*7 Support No Email Support Yes Live Chat Support Yes Customer Support Languages Chinese, English, German, Hindi, Indonesian, Malaysian, Portuguese, Spanish, Thai, Urdu, Vietnamese
OctaFX Safety & Security
OctaFX is a safe trading platform, and 1,500,000 traders from worldwide evidence it. Most of them are trading via OctaFX for many years. That’s why it’s 100% reliable.
Every detail that you share with OctaFX remains fully secure and encrypted. That’s why there’s no fraudulent case has been encountered till today in the entire history of OctaFX.
iForex Rating & Review
Based on the user experience, the following rating and reviews are provided.
|User Experience||7.5 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||8.2 / 10|
|Trading Platforms||8.1 / 10|
|Overall Ratings||8.0/ 10|
|Total Client Reviews||45|
OctaFX Trading – Conclusion or Verdict
OctaFX is famous as it caters to more than 1,500,000 customers from all across the world.
It’s also popular for its attractive offerings, such as deals, promotions, features, educational tools, and much more.
Even though this online broker hasn’t got licensed by a legal and most requisite regulatory body, still, people are using it.
After all, OctaFX holds a strong track record of its success. It has won people’s trust over time.
The platform understands what today’s users demand exceptionally well. That’s why it’s best for both expert and new traders.
Open a Forex Trading Account Now! – Fill up the Form
Learn everything about Forex Trading