OctaFX Review 2024

OctaFX

Broker’s Trustability

Rating :
5
/ 5

OctaFX was founded in 2011 by a group of experienced forex traders. The company has since grown to become one of the leading forex brokers in the world, with over 40 million clients in over 180 countries. OctaFX offers a wide range of trading instruments, including forex, CFDs, indices, and metals. It also provides educational resources and customer support to its clients.

Overall Rating

Regulation :
Trading Conditions :
Trading Platforms :
Deposit & Withdrawal :
Education & Research :
Assets Available :
Brokers Name :
OctaFX
Established :
2011
Regulation :
CySEC 372/18, FCA (UK) 679306, And IFSA
Phone :
None
Address :
Bonovo Road – Fomboni, Island of Moheli, Comoros Union
Trading Desk :
STP
Min. Deposits :
25 USD
Leverage :
1:500
Spread :
0,6 pips
Min. Order :
From 0.01 lot
Execution :
Market Execution
Base Currencies :
USD
Commission :
No commissions
Accounts :
OctaTrader, MetaTrader 5, MetaTrader 4
Islamic Accounts :
Trading Platform :
MT4, MT5, OctaTrader
Trading Instruments :
Forex, Stocks, CFDs, Crypto
Funding :
MasterCard, Skrill, Neteller, PerfectMoney, Crypto
Mobile Trading :
Web Trading :
Copy Trading :
Hedging Allowed :
Scalping Allowed :
Affiliate program :
PAMM Accounts :
Website Language :
English, Malay, Portuguese, Indonesian, Arabic, Thai, Chinese, Vietnamese

OctaFX founded in 2011, OctaFX is a part of a group of global entities. OctaFX trading platform has headquarters in St Vincent and the Grenadines and the United Kingdom. They are generally well-suited for OctaFX to provide their Forex/CFD trading services to global clients.

At the moment, OctaFX has been chosen by more than 6.6 million clients worldwide as an intermediary to the financial markets, but the broker is focused on the countries of the Asia-Pacific region. OctaFX is popular in Indonesia, Malaysia, Pakistan and other countries.

OctaFX Advantages

  • Offers proven platforms for trading such as MT4, MT5, and cTrader.
  • Tight spreads from 0.6 pips and no non-trading commissions.
  • To start trading, you need to deposit at least $100.
  • It is licensed to carry out brokerage activities by the Cyprus regulator CySEC.
  • Execution of more than 97% of orders without slippage.
  • The ability to choose the type of spread on MT4 accounts.

Types of OctaFX Accounts

According to the OctaFX review, it provides three trading platforms of different trading account types, namely the MT4 Micro account, the MT5 Pro account, and the cTrader ECN account with real time updates.

Micro Account

To start trading you will need to create Trading Accounts in your Personal Area. OctaFX MetaTrader 4 account also known as the Micro Account at OctaFX is generally offered to novice investors. The reason for MT4 being ideal for new traders is because it allows them to invest small funds, thus the term Micro Account. OctaFX MetaTrader 4 trading,fixed spreads are initiated from 0.4 pips.

Pro Account

The Pro Account is commonly known to traders as the MT5 Account and is offered to high-level, experienced traders. The C-Suite Forex investors have the facility of an MT5 account to profit from the lowest trading spreads. These trading spreads in the Pro Account are economically feasible when it comes to exchanging compensations.

ECN Account

The ECN Account is commonly recognized by traders on the site as the cTRader account. These trading accounts are available to progressive investors that are in need of more enhanced precision in their trading valuations.

Notably, for the ECN account, no fees are imposed on the users, and the minimum deposit that is applicable on this account is $100. Additionally, the leverage for the cTrader account is at 1:500 for fiscal currency. As for metals, the leverage is at 1:200. Moreover, users have the ability to trade from the OctaFX trading platform with 28 currency pairs (live quotes) and metals such as gold or silver.

Leverage

The OctaFX broker leverage is a digital credit provided by the firm. The higher the user’s leverage, the lower marginal compliances will be. For instance, if a user has no leverage (ratio 1:1), they will need 100 000 EUR to open 1 lot of EUR/USD pairs. If their account leverage is 1:200, only 500 EUR will be required. Also, the maximum leverage OctaFX offers is 1:500.

OctaFX Payment Option

To deposit and have the opportunity of funding prospects, OctaFX clients can deposit options through multiple payment methods such as Bitcoin, Credit Card, Skrill Neteller, bank transfer and Wire transfers. OctaFX has over 50 different options of payment methods, the availability of which may also depend on your country of residence. When it comes to local banks account options transfer payment methods, the deposit clearing takes a few days.

Deposits with local banks are processed within one or three hours, credit/debit card, bank transfer, Skrill Neteller and e-wallet deposits are instant. Whenever you make deposits into your OctaFX live account, you are given a certain deposit bonus; these bonuses are meant to give you extra power to make trades. Additionally, trading accounts can be opened in USD and EUR as well.

OctaFX Trading App

As per the OctaFX review, the mobile trading app offers the most convenient and optimal results at the clients’ fingertips.

OctaFX apps are available for download on iOS and Android from google play. Traders can access all their registered trading accounts in one OctaFX app through their mobile apps. Additionally, they can even download separate apps for MT4, MT5, and cTrader, depending on their trading environment.

OctaFX Trading Platform

MetaTrader 4 Desktop

MetaTrader 4 is highly customisable. It includes charting tools, market indicators, scripts and EAs, advanced risk management, real time market execution and more.

MetaTrader 4 (MT4) provides robust technology and high security to enable traders to choose Forex or CFD positions without worrying about the stability of the platform. It offers instruments to follow price fluctuations, identify trend patterns through charts and graphs, and also deploy automated trading techniques to manage trades.

  • Flexibility: There are several choices of currency pairs to trade in, as well as cryptocurrencies and CFDs.
  • User-friendly: OctaFX MT4 has a user-friendly interface that is suitable for traders of all levels.
  • Customisation: Develop your own Expert Advisors (EAs) and technical indicators on MetaTrader 4 to match your trading needs and practices. Windows and charts can be arranged for each profile according to your preferences.
  • Efficiency: MT4 doesn’t slow down the performance of your PC or mobile, keeping disruption to a minimum.
  • Charting tools: Advanced charting tools help analyze the technical aspects of the market.
  • Expert advisors: Trading robots enable the automation of trades and access to the platform’s algorithmic trading benefits.
  • Language: The platform is available in multiple languages.

MetaTrader 5 Desktop

Download MetaTrader 5 and start trading Forex and CFDs with amazing functionality, technical and fundamental market analysis, copy trading and automated trading features incorporated into this platform. This version offers a diversity of order types and execution modes.

MetaTrader 5, or MT5, is a next-gen multi-asset trading platform that will replace MT4 in the very near future. Its back-testing functions are not only faster than those of MT4, but it also allows simultaneous multi-pair testing. A similar graphical interface to MT4 will help you get used to the platform quickly, while unique MT5 integration with centralised exchange enables traders to trade commodities and indices in addition to Forex.

  • More pending order types: Traders can place eight types of pending orders to get more precise control over open positions.
  • Cryptocurrency trading: MT5 allows intraday swing trading or position trading. A new hedging feature enables scalping as well.
  • One-click trading: MT5 simplifies the process of opening a new position with a single click.
  • More technical analysis tools: MT5 includes additional technical tools, which provide options to choose from over 21 timeframes for charting and nine additional techniques for chart structuring.
  • Clear segregation: MT5 allows segregation between the terms of order, position, and transaction.
  • Optimised strategy tester: Improved testing capabilities for expert advisors and detailed presentation of results.
  • Improved EAs: Integrated MQL Forex market product tabs for EAs.
  • Economic calendar: Traders can now stay up-to-date on economic events, data, and indicators in real time, every hour, for market monitoring.

OctaFX Affiliate Program

OctaFX Affiliates get much more than an opportunity to attract clients.

  • Quick and easy way to get started
  • Perfect trading conditions for clients
  • High affiliate payouts
  • Tailor-made solutions for top affiliates
  • Easy and prompt payments
  • No limits on payouts

Invite-a-Friend program

OctaFX introduces a new type of affiliate program oriented at our traders who are willing to invite their friends and get a reward for that. It has never been as simple as now. You don\’t have to open an IB account in order to refer your friends anymore.

  • Get your referral link in your Personal Area
  • Send your referral link to your friends via messengers such as WhatsApp, Skype, Telegram or share your referral link via social networks, for instance, Facebook, Twitter or Instagram.
  • Earn 1 USD per each standard lot traded by your friends, while they get a unique 100% deposit bonus.
  • Receive and withdraw your commission once in 24 hours or transfer it to your trading account

OctaFX IB

  • Competitive payouts up to 12 USD/lot
  • Granted flat-rate commission for all assets
  • Accelerated withdrawals and transfers to clients
  • Worthwhile prizes, including new cars, MacBooks, fancy gala dinners, and VIP events

Master IB

The OctaFX Master IB program lets you collect commission from profits made by the IBs you attracted, alongside your regular referral commission for referring traders.

  • Regular monthly payouts
  • Dedicated Master IB Area
  • Master IB commission starting from 10% and more
  • No limit: the more your IBs earn, the higher your payments are
  • Having 5 active IBs in your network is enough to qualify
  • Personal account manager
  • You still receive commission for the traders you referred directly on a daily basis
  • IBs from your network also receive their commission in full

Customer Support

Contact E-mail: [email protected]

  • OctaFX Customer service available 24/7 Monday to Sunday
  • High priority immediate response
  • The fastest way to get in touch with Customer Support

Address

Bonovo Road – Fomboni, Island of Moheli, Comoros Union

About the Author

Charles

Author

Charles is an experienced retail trader who has been trading since 2013. He has a comprehensive knowledge of the issues that inexperienced traders encounter. Charles specializes in swing trading and day trading, with a strong focus on psychological and fundamental analysis.

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