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