OctaFX – The Best Forex Broker?
Read our OctaFX Forex broker review below...
...OctaFX uses state of the art technology and knowledge to enhance the Forex trading experience and provides forex brokerage services to its clients in over 100 countries around the world. The broker acts in full compliance with international legislation and regulation standards and guarantees its clients the safety of funds and protection from negative balance.
Today it is the leading forex company in the modern financial market. The broker is regulated by the British regulator of financial institutions FCA, as well as the European organization CySEC in accordance with the MiFID directive.
No deposit and withdrawal fees
Copy Trading available
1.5 million registered traders
Fast response from customer support
Fixed and variable spread accounts
Limited number of markets
Account inactivity fee
Phone support not available 24/7
Not available for USA traders
Limited deposit&withdrawal option for EU clients
OctaFX was established in 2011 to provide services for online currency trading in international financial markets. The broker has received over 20 awards since its inception and some of them include: «Best Forex Broker Asia in 2019», «Fastest Growing Micro Forex Broker», «Best Broker in Central Asia», «Best Broker in Central and Eastern Europe», «The Best Brokerage Service Center», «The Best STP Broker 2015», In 2016, the broker received two awards at once – «Best STP Broker» and «Most Open Broker». Broker OctaFX is licensed by the FCA UK and operates in accordance with the requirements of this regulator. OctaFX studies its competitors, checks the pulse of market trends and contributes to the game by investing equity and offering a fair, high-quality trading experience, as well as flexibility in terms of conditions, platforms and tools offered.
Here you will find a platform suitable for you, which allows you to trade without facing any obstacles such as slippage, manipulation and account blocking. The broker offers three platforms MetaTrader 5 and 4, as well as cTrader. Unlike many other brokers, cTrader is doing very well on the site. OctaFX works as STP and ECN broker. Order execution is fast, there are no slippages or requotes.
Trading commissions depend on the account you choose, as well as on the list of spreads, leverage and minimum deposit. OctaFX also offers clients one of the best Islamic forex accounts.
- MT4 Micro account – starts at $100, leverage up to 1:500 for currencies, 1:200 for metals, 1:50 for indices and 1:2 for cryptocurrencies, floating spreads from 0.4 pips, fixed spreads of 2 pips, zero commission for transactions;
- MT5 Pro Account – starts at $200, up to 1:200 leverage for currencies, 1:100 for metals and energy, 1:50 for indices, 1:2 for cryptocurrencies, floating spreads from 0.2 pips and zero commissions;
- CTrader ECN account – starts at $100, leverage up to 1:500 for currencies and 1:200 for metals, floating spreads from 0 pips and commissions from 0.02 per 0.01 lot.
OctaFX supports several ways to transfer funds: Skrill, VISA and MasterCard, Neteller, OctaFX accept bitcoin deposits too. Commissions are not charged with any of these deposit methods. OctaFX is one of the very few brokers that actually processes all withdrawal requests within 1-3 hours. Withdrawals are made using the same payment method, and the minimum withdrawal amount is $5.
Today, tens of thousands of traders around the world use the services of this broker, and the company’s keyed specialists are ready to provide you with professional assistance 24/5. You can email them or call one of their offices in Indonesia, UK or Hong Kong. The company has taken all the necessary measures to ensure that the user can always contact through multiple communication channels.
OctaFX uses advanced technologies and thanks to this provides its services in more than 100 countries around the world. The broker guarantees reliable Forex trading conditions for all types of traders with different skill levels. Traders also note that the company regularly encourages users with bonuses and discounts, holds contests, for winning which traders also receive pleasant bonuses. The company has already paid out over $2.5 million in bonuses and has run several promotional campaigns with cash and product prizes. OctaFX also has an excellent analytical section, excellent beginner education and various trading tools.
OctaFX FAQ on the broker
1 Is OctaFX a regulated broker?
Yes, OctaFX is regulated by CySEC, MiFID, FCA, FSA in Cyprus and others.
2 What trading platforms does OctaFX offer?
OctaFX offers the full suite of MT4, MT5, Web, cTrader, cAlgo, Mobile.
3 What is OctaFX maximum leverage?
Maximum leverage at OctaFX is 1:1000.
4 What methods can I use to deposit and withdraw funds on OctaFX?
Deposits and withdrawals with this broker can be done using these methods: Credit Cards, Bank Transfer, Skrill, UnionPay, FasaPay, Neteller, Western Union, WorldPay.
5 What is the spread of the OctaFX broker?
The spread for this broker is on average OctaFX is 0.5 - 20 pips.
6 What’s the minimum deposit to open a Live account at OctaFX?
The minimum deposit to open a Live account is 50 USD.
7 What cryptocurrencies are available at OctaFX?
In this broker are the following cryptocurrencies for trading: BTC/USD, BCH/USD, ETH/USD, LTC/USD, XRP/USD.
8 In what currency can I open an account with OctaFX?
With this brokers you can open an account in currencies: EUR, USD.
9 What Trading Instruments are available at OctaFX?
On OctaFX, you can trade financial instruments such as: Forex, CFDs, Indices, Commodities, Cryptocurrencies.