OctaFX Trading Account – Review, Types, Process, Benefits, Charges & more
OctaFX Trading Account is known for its catchy interface and helpful features. The account can be accessed in multiple languages, which is a plus point.
But it is just a part of the intro as OctaFX’s online trading account comes with extra benefits to its users. OctaFX broker is already counted among the best.
And beyond a doubt, its brilliantly working trading account is the chief reason behind it.
For the last few months, if you were also on the hunt for the best trading platform and found OctaFX a good choice, you must catch a glimpse of this article.
Know everything about the OctaFX online trading account, which is the core of any trading platform.
OctaFX Trading Account and Benefits
OctaFX is a pioneering name in the financial market and is known as one of the best online brokers.
Georgios D. Pantzis is the person behind OctaFX who brought this amazing trading platform into the digital world that first went public in 2011.
Within a few months, the platform won the crowd and became popular.
More than 200 employees are working for the OctaFX company, which clearly showcases its demand in the market.
However, this states that users can expect a lot from its trading account. The company qualifies the regulation set by SVGFSA.
Beyond a doubt, you will never face any issue while using an OctaFX online trading account.
If any problem arrives, the customer support team is 24×7 hours ready to assist you.
Let’s move further and get more details about trading accounts by OctaFX, which makes it a top choice for modern traders.
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OctaFX Trading Account Charges
|Trading Account Charges|
|Initial Deposit||100 USD||USD 100||100 USD|
|Spread||0.6 pips||0.6 pips||0.8 pips|
|Commission||No commission, markup||No commission, markup||Commission markup|
Traders can launch their first trade on the OctaFX trading platform from as low as $1 only.
But before you move ahead, you are asked to submit 25 USD dollars as a minimum deposit amount. Only then you can get access to your trading account.
However, the deposit amount can also vary depending upon the region or country you live in.
Such as, the broker sets a $100 minimum deposit amount for US users that goes up to $500 if they choose the professional account.
But, as compared to other trading platforms, you can find it relatively more affordable.
Apart from that, users do not need to pay even a single penny as a part of account charges.
OctaFX broker charges no fees from its users, as it is a free trading platform for all.
If we talk about spread, these vary from 0.6 pips to 0.8 pips depending upon the trading account you choose.
Next, you get detailed information about it.
Types of OctaFX Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN, STP|
|Maximum Leverage||Upto 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 trading account is based on Electronic Communication Network (ECN) and Stand Through Process (STP).
Perhaps this may sound a bit confusing for many traders as both ECN and STP possess different meanings.
For instance- the ECN account type charges commission on every trade a user makes, whereas the STP account charges no commission on trade, but it earns from spreads.
Even though the trading account includes ECN and STP trading account, still it depends upon the asset you choose for trading.
You can get more details on it by visiting OctaFX official website.
There you can see that before you access OctaFX online trading account, three trading options have been provided.
To simply put, you are required to choose from MetaTrader 4, MetaTrader 5, and cTrader.
Every trading platform is built for the varying needs of users.
But in most regions, you only see Meta Trader 4 (with leverage 1:500) and Meta Trader 5 (with leverage 1:200).
However, tradable assets stay the same except for metals and indices.
OctaFX Account Opening and Trading Process
OctaFX account opening and trading processes are easy as pie.
Simply follow the steps stated below and gain access to the trading account within a matter of minutes.
- Begin from becoming a registered user of OctaFX trading account. Use an email id and a secure password so no one could play illegal games with your account.
- Now, confirm your username and password and proceed.
- After submitting the log-in details, you are required to meet the document requirements for verification reasons.
- Submit every document one by one and double-check to avoid errors.
- Now, submit the minimum deposit amount, which varies from one country to another. (Note: you can use Cryptocurrencies, FasaPay, Neteller, Ngan Luong, Skrill, Wire Transfer, China UnionPay, etc.) For payments and withdrawals, both.
Ultimately, you will land on your trading account where you can carry out your trading moves.
Once you become a registered user of the OctaFX trading platform, you get access to leverage.
MetaTrader 4 users are exposed to 1:500 leverage and it is 1:200 for MetaTrader 5 platform users.
(Note: leverages are subjected to risk. On the one hand, if a user can incur profit, losses expectancy surges as well as risk, and returns go hands in hands. If your predictions are accurate, you can generate most of your investment at the OctaFX trading platform. But if your selected assets work poorly, you can lose more)
OctaFX Trading Account – Features
|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|
Let’s explore the OctaFX trading account features that make it a reliable broker in the market.
Before you log in to OctaFX, make sure you first educate yourself and use the educational service offered for free by the broker.
Social Trading / Copy Trading
OctaFX trading account comes with a copy trading feature that enables users to copy the trading moves of experts.
Similarly, new traders learn and grow at the same time.
Trading signals an OctaFX trading account gives you a proper idea about the price movements.
Using indicators, you can thereby carry out technical analysis.
Once you register for a trading account at the OctaFX trading platform, you become a member of the broker.
Thus, you can receive alerts on your email that can be about prices and shares, and changes in OctaFX policy.
An automated trading feature is also available in the trading account.
In simple words, you can use stop loss/take profit commands, which take your trading on automation.
You can also offset losses in trading by changing your investment position in the OctaFX trading account.
The broker also launched promotional offers as part of their marketing strategies, including some exciting rewards for traders.
Expert advisors are available to help you if you choose a professional trading account at OctaFX.
OctaFX Trading Account – Conclusion
Trading account by OctaFX undoubtedly comes with some notable features.
Users don’t just trade and generate huge returns from the broker but also learn a lot from the trading account.
To simply put, users can strengthen their knowledge in trading via the copy trading feature.
Apart from that, educational content offered along with the trading account is a great thing.
In a nutshell, it won’t be wrong to say that using a trading account by the OctaFX broker is certainly worth it.
OctaFX Online Trading – FAQs
Here are some quick FAQs related to the OctaFX trading account:
Does OctaFX provide Online Trading?
OctaFX is an online broker which enables aspiring traders to invest in their favorite assets online.
Users can sell, purchase or hold the desired assets using the OctaFX trading account anytime or anywhere as the whole process is online.
What are the Commission Charges in OctaFX?
OctaFX is a commission-free trading platform.
Still, it is worth noting that OctaFX isn’t just an STP broker alone.
It is also known as an NCP broker, which means the commissions on certain assets will be charged.
Does OctaFX provide a Demo account?
OctaFX broker does provide you with a demo account to understand the basics of trading on its account.
Users can learn core subjects of trading at the OctaFX trading platform.
Even though you are a mobile user, you can access the demo account on the OctaFX official mobile app.
Is trading free at OctaFX?
Trading isn’t entirely free at the OctaFX trading account.
Though, no online broker offers you this feature in their trading account.
Yet, trading via OctaFX is affordable as charges and commissions are subject to the type of assets you choose for trading.
Does OctaFX provide Spot Metals Trading?
Yes, the OctaFX trading account offers spot metals assets for trading.
Find the best assets using the search box in the top section.
Carry out some research work using indicators and charts for robust technical analysis and hit on the buy option.
What are Spot Metals trading charges at OctaFX?
Trading charges on spot metals trading at the OctaFX trading platform can vary as it depends on the assets and a trader’s location.
Also, the charges can go up and down; in most cases, no fees are charged from the traders.
Does OctaFX provide Stock Trading?
OctaFX offers a stock trading feature on its trading account.
Take the help of a search box or news sources to find good working companies in the market.
Similarly, do some research work using charts and indicators and end up investing in an asset that is likely to generate a good return.
What is Spread at OctaFX?
Spread at OctaFX trading platform varies from 0.5 pips to 0.8 pips.
However, the spreads on currency pairs can vary or sometimes be tighter depending upon the liquidity ratio.
Is OctaFX safe for trading?
OctaFX offers you an entirely safe trading account.
The platform works under SVGFSA guidance and adheres to its rules, making OctaFX a reliable broker to start trading with.
Does OctaFX provide Trading Tips?
In addition to the demo account and copy trading features, OctaFX shares trading tips with its users, which is a part of its educational services.
Users learn and earn at the same time using this fantastic trading tool.
Fill up the Form – Open Forex Trading Account Now!
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