OctaFX Guide – Read our In-Depth OctaFX Review
This OctaFX review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this OctaFX review does not apply to US users.
If you're a new entrant in the realm of trading and brokerage, so many facts will be perplexing for you. Getting into the area of trading requires expert assessing skills and comprehensive knowledge. You'll get adept at all of the concepts of broker since you continue trading. For starters, you have to choose the ideal broker who'll be transparent with you constantly.
In this fast-paced world of stock markets and trading, you'll need guidance to make proper decisions. A professionally lead investment plan will generate hefty returns. OctaFX is just one such stage that will take you and your investment to great heights. It is crucial that you know about OctaFX until you trust them with your cash.
Our entire OctaFX Review covers everything you need to know about trading with OctaFX. A fantastic broker can multiply your first investments and provide you favorable profits. If you want to make profits, you should trade with a brokerage service that aligns with your investing goals.
There's absolutely no sure-fire method to guarantee profits; thus, you must carefully analyze your broker before you choose them. It is a frequent misconception that all agents are the same, but that is not correct. Wrong judgment, in the beginning, can set your investments at risk.
OctaFX is a broker which has paved its way successfully to the brokerage world. Within this review, we've attempted to collate a number of the important aspects of OctaFX. This review can allow you to know whether OctaFX is a fantastic match for your investments or not. We have attempted to breakdown all of the qualities and charges for your convenience.
OctaFX Review, Table Of Contents
- Who are OctaFX?
- Benefits Of Trading With OctaFX
- Everything you should know about trading with OctaFX
- Is OctaFX Safe To Trade With?
- Pro's & Con's Of Trading With OctaFX?
- Compare Brokers Similar To OctaFX
- Regulation And Licencing In More Detail
- OctaFX Awards
- Minimum Deposit Required For A Live Account With OctaFX
- OctaFX Commission And Fees Explained
- Compare broker fees against OctaFX
- OctaFX Withdrawal Fees Explained
- OctaFX Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With OctaFX?
- Alternatives To OctaFX
- Frequently Asked Questions About OctaFX
Who are OctaFX?
OctaFX is a forex broker headquartered in St. Vincent and the Grenadines and provides a variety of tools for online trading. Since its inception in 2011, OctaFX has emerged as a top-tier player in the industry of online broker. OctaFX has a highly competitive and full-featured trading website that's focused on forex, indices, metals, stocks and commodities.
Over the past 10 years, OctaFX has grown into one of the leading online brokers.
After launching in 2011, their customer base is becoming as big as 30,000+ clients.
OctaFX is a favorite of many dealers because of its negative balance protection. Our OctaFX review found that they are an excellent choice for automated trading options. It's best suited for investors that are searching for an assortment of assets. Social and automated trading options are the heart at OctaFX.
Technology plays a substantial role at OctaFX. OctaFX offers trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps. OctaFX is fair, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding variety of tools will be beneficial for most traders. Third-party partnerships also provide in-house research.
The trader resource department at OctaFX is quite enlightening for new dealers as it permits them to get a closer look in the financial markets. OctaFX caters to all types of traders and are a must-have broker for almost any well-diversified approach to trading.
If you feel that OctaFX is not right for you then at the bottom of this OctaFX review you wil find a lot of alternatives to OctaFX.
What you ought to know about trading using OctaFX
OctaFX is a dynamic platform that offers various methods of trading online. These tools cover the monetary markets considerably. The Majority of the broker platforms provide less methods than OctaFX
If you want to exchange with OctaFX, you will need a minimum deposit of $5. This deposit is compulsory if you would like to begin trading using OctaFX. This 2021 OctaFX review will direct you clearly about trading with them.
OctaFX is as versatile as any other brokerage platform. OctaFX is ideal for traders that want a manageable selection of low-cost services. The platforms provided by OctaFX are third party, white-label offerings. All traders may choose out of MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps.
Together with everything, OctaFX has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a trade has to be kept open. The brokers offer premium customer service which rewards clients with benefits.
Many unethical brokers attempt to pressurise customers into bigger financing for premium services. OctaFX, on the other hand, is more focused on trading volume. Traders can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the further advantages will come along.
OctaFX accounts are available around the world and provides excellent service everywhere they have clients. There are some select few countries where OctaFX accounts are not available. Traders in the following countries cannot open or use a OctaFX account:
Is OctaFX Safe To Trade With?
Launched in 2011, OctaFX has been open for 10 years, they have a head office in St. Vincent and the Grenadines.
OctaFX is regulated by Financial Conduct Authority (FCA). These bodies have rules that ensure that trading platforms have steps in place to maintain investor's resources procured. This usually means that OctaFX users don't need to worry about their money as it's segregated and safely stored in established banks. SSL encryption simplifies each user's personal information as well.
You are able to make use of a choice for 2 Factor Authentications (2FA) with OctaFX for increased safety. An SMS with the verification code will be sent to a phone. You'll be required to input this code to log into your account.
Another concern with financial brokers is in regards to security might be manipulation of trading. This is highly disadvantageous for consumers on those platforms. However, this is more prevalent in the case of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With OctaFX
Every online trading platform will have some pros and cons OctaFX review would be complete without having a balanced approach. This OctaFX review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- OctaFX is trusted by 30,000+ clients
- OctaFX offers Negative Balance Protection
- OctaFX offers Guaranteed Stop Loss
- OctaFX doesn't charge withdrawal fees
- OctaFX doesn't charge inactivity fees
- OctaFX doesn't charge deposit fees
- OctaFX doesn't charge CFD fees
- OctaFX offer trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps
- OctaFX offer trading instruments
- OctaFX trades major forex pairs
- OctaFX can communicate in English
- OctaFX doesn't trade minor forex pairs
- OctaFX doesn't trade exotic forex pairs
- OctaFX doesn't offer trading on cryptocurrencies
OctaFX Review - Compare Brokers Similar To OctaFX
|OctaFX||Ustocktrade||Advanced Global Markets||Charles Schwab|
|Headquarters||St. Vincent and the Grenadines||United States||Cyprus||United States|
|Regulated By||Financial Conduct Authority (FCA)||Securities and Exchange Commission (SEC)||Cyprus Securities and Exchange Commission (CySEC)||Commodity Futures Trading Commission (CFTC)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
OctaFX Review - Regulation And Licencing In More Detail
OctaFX is regulated by Financial Conduct Authority (FCA).
OctaFX, as a business, has a strong collection of rules for ensuring honest trading on its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).
In accordance with the organization's privacy regulations, client data is never to be shared with some other institutions or individuals. This includes credit history and other financial information.
OctaFX Review - Awards
- At the time of writing this OctaFX review, they had not received any awards.
OctaFX Review - Minimum Deposit Required
The minimum deposit you need to begin on OctaFX is $5. This is an adequate amount for people just starting out. It's possible to make more advanced residue as you go along. However, ensure you know how to make the most of your cash before investing in larger sums.
OctaFX Review - Commission And Fees Explained
OctaFX is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the businesses of online brokerages are scaled better. In other words, an internet broker is not necessarily affected by the amount of clients they have.
However, this doesn't mean that online brokers do not charge any fees. They charge fees of varying rates for various services to earn money. There are mainly 3 types of penalties for this objective.
The first kind of fees to keep an eye out for are trading fees. When you make a genuine trade, like purchasing a stock or an ETF, you're charged trading charges. In these instances, you are spending a spread, funding rate, or a commission. The sorts of trading fees and the prices differ from broker to broker.
Commissions can be fixed or dependent on the traded quantity. On the other hand, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are people that are billed when you maintain a leveraged position for more than a day.
Aside from trading fees, online brokers also charge non-trading fees. These are determined by the activities you undertake on your account. They are charged for operations like depositing money, not trading for long periods, or withdrawals.
Generally, OctaFX does not charge high fees compared to other online agents. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a lesser sum. This is beneficial for those who regularly exchange, for example daily or weekly trading.
However, non-trading fees charged by OctaFX are relatively higher. Consequently, you're billed more for non-trading activities on your trading accounts, like deposits and withdrawal. These are not related to the sale and purchase of assets.
This OctaFX review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against OctaFX
|OctaFX||Ustocktrade||Advanced Global Markets||Charles Schwab|
OctaFX Review - Withdrawal Fees ExplainedOctaFX doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from your OctaFX account. It's possible to draw sums up to the amount of your account balance, keeping aside the perimeter utilized. One thing to keep in mind is that you don't necessarily have to have any cash on your account.
In addition, the withdrawn money will be moved directly to the account you use to create deposits. Thus, if you used a credit card for deposits, the withdrawn cash will be sent into the card. OctaFX will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing cash in different currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the money you're choosing to withdraw in.
OctaFX Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of the buzzing questions which run through your head when open an account with OctaFX. An inactivity fee is an amount charged to registered dealers who have not engaged in purchasing or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee also differs from one agent to another and isn't standardized. If a traders account doesn't have a purchasing or selling transaction, it's maintained by the agent as an inactivity charge. The traders need to pay this commission under conditions and terms that they had agreed while enrolling.
OctaFX doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges are indicated by OctaFX, it is best that you close the account if you're inactive. Inactivity fees are not only charged by brokerage firms but also many financial services.
For additional trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is subjected to a lot of conditions and should be revealed clearly by the agent beforehand.
OctaFX Review - Deposit Fees Explained
When you move money in your trading account by your bank account, a deposit fee can be charged by the broker. Most agents do not charge too much money for this particular operation.
OctaFX doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the OctaFX trading platform is easy. You just have to complete a single-user profile questionnaire to start depositing money into your trading account. You'll have to provide an identity proof and proof of residency to deposit large sums.
OctaFX Review - Compare Broker Deposit Methods
|OctaFX||Ustocktrade||Advanced Global Markets||Charles Schwab|
What Can You trade With OctaFX?
Note: OctaFX provides many different trading instruments due to regulatory restrictions in many countries. Trading instruments offered can be different depending on the country of residence of the client.
OctaFX has a wide variety of over instruments available for you to trade with.
If trading forex pairs is of interest to you then OctaFX offer over currency pairs.
Compare OctaFX, Ustocktrade, Advanced Global Markets & Charles Schwab below.
Alternatives To OctaFX
If, after studying this OctaFX review, OctaFX doesn't quite fulfill your needs check out these OctaFX alternatives.
We have scoured the internet to find the best alternatives to OctaFX. Click on the links below to find out more.
Frequently Asked Questions about OctaFX
Can I try OctaFX before I buy?
Yes, you can most definitely try OctaFX before you buy. OctaFX provides demo accounts for the ease of inexperienced traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you sign up for a demo account on OctaFX, you will set out using a decent amount of virtual currency. It is to establish a feeling of safety and confidence in you until you decide to spend your own money.
With this digital OctaFXdemo account, you can experiment in any way, to whatever period you wish. You might even open positions, examine different trading approaches, and more.
OctaFX specifies on its official website that you are able to exchange real time stocks with your demo account.
Is OctaFX safe?
You can drop all your worries since we believe that OctaFX is completely safe to use. It is in compliance with all the principles of Financial Conduct Authority (FCA).
To its credit, OctaFX does provide assured stop-loss protection.
Why does OctaFX ask for my passport?
The reason that OctaFX asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, OctaFX has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, OctaFX must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with OctaFX?
The process to start trading withOctaFX is perhaps simple enough to be a cakewalk. You need to begin by signing up on the OctaFX website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with OctaFX is $5. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with OctaFX.
The best way to kickstart your trading career with OctaFX is to open a demo account facility before risking any real money
What funding methods do OctaFX accept?
There are a number of methods to finance your accounts with OctaFX. The process is effortless and quick, with different payment methods in your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You must bear in mind that PayPal is not available in every place. The currencies OctaFX
Is my money safe with OctaFX?
Yes, your cash is safe and protected with OctaFX. As you already know, OctaFX works with proper conformation to. It has established plenty of measures to protect all of its investors.
OctaFX safeguards its clients' private and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you wish to further safeguard your accounts, you can empower Two-Step Verification as well. It requires an SMS confirmation that you get your accounts.
Is OctaFX trading good?
Yes, trading through OctaFX is a pleasant and good experience indeed. It is a great and intuitive platform with useful features for your ease. In addition, you could even gain access to a vast collection of educational tools and assistive substance to kickstart your trading experience.
If you are still skeptical, it is possible to start a eToro demo account and assess the credibility of the platform on your own.
Which Countries does OctaFX support?
OctaFX operates across the world. However, due to regulations there are some countries that OctaFX can't accept clients resident in
Is OctaFX legit?
OctaFX is a legit company headquarted in St. Vincent and the Grenadines since 2011. They are regulated by Financial Conduct Authority (FCA). OctaFX is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is OctaFX a good broker?
OctaFX is a great broker, and its users can vouch for it. The highlight of this platform is its quick order execution on transactions.
You'll find the clean design of the platform and the admirable features a pleasure to work with.
Is OctaFX a trustworthy broker?
Yes, OctaFX is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 30,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for OctaFX?
The minimum deposit to open a live account with OctaFX is $5
How long do OctaFX withdrawals take?
Normally, withdrawal of money from OctaFX is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from OctaFX to show in your bank account.
Are OctaFX regulated?
OctaFX are regulated by Financial Conduct Authority (FCA)
Is OctaFX a market leading broker?
OctaFX is currently among the industry leaders. It supports over 30,000+ registered users and over 10 years of experience on its record. They're among the world's top trading platforms and also a dominant figure in the Fintech revolution.
It simplifies this standing to its unbelievable platform and wide range of resources plus tools so you can put money into capital markets.
Is OctaFX a con?
No, OctaFX is not a con. They are regulated by Financial Conduct Authority (FCA) and must adhere to their rules. Thus, it is safe to say that OctaFX is not a scam.
Can you make money with OctaFX?
Using OctaFX, many traders earn a lot of cash. But on average, through consistent trading, you also can create between 2% - 10% profit a month.
This can look to be a little number, but over the year, this adds to a significant amount of gains. While OctaFX supply you all the tools to make money, they can't guarantee you will gain.
Does OctaFX have fees?
Yes. To begin trading with OctaFX, you have to deposit $5. Certain commissions while trading additionally apply. Any processing fees from your bank will need to be incurred by you.
When was OctaFX founded?
OctaFX was founded in 2011 in St. Vincent and the Grenadines. OctaFX is regulated by Financial Conduct Authority (FCA).
How many people use OctaFX?
OctaFX is a worldwide recognised broker with 30,000+ clients.
Where is the OctaFX head office?
OctaFX has its head office in St. Vincent and the Grenadines
Does OctaFX offer negative balance protection?
Yes, OctaFX has Negative Balance Protection. It is specially offered when the industry volatility keeps customers from allowing their account go into the red. In such a scenario, OctaFX offers the ability to reset a clients account balance to zero.
You can go through the important stipulations on OctaFX's site to comprehend their policies better.
Does OctaFX offer guaranteed stop loss?
Yes, OctaFX offer a guaranteed Stop Loss order.
If there is no free margin left together with the client, OctaFX will cease your own positions. When the losses in the ceased out location exceeds your account balance, you might encounter a negative account balance.
Does OctaFX allow scalping?Yes, OctaFX do allow scalping. Many traders across the world choose OctaFX due to their scalping services. They offer trading on MT4, MT5, Web Trader, cTrader, Tablet & Mobile apps which let this.
Does OctaFX allow hedging?
Yes, OctaFX does allow hedging.
Can you trade energies with OctaFX?
Yes, you can trade energy stocks with OctaFX
Can you trade agricultural shares with OctaFX?
No, unfortunately you cannot trade agricultural stock with OctaFX
Can you trade cryptocurrency with OctaFX?
No, unfortunately you cannot trade cryptocurrency with OctaFX
Can you trade metals with OctaFX?
Yes, you can trade metals with OctaFX
Can you trade UK Shares with OctaFX?
No, unfortunately you cannot trade UK shares with OctaFX
Can you trade US Shares with OctaFX?
No, unfortunately you cannot trade US shares with OctaFX
Can you trade Japanese Shares with OctaFX?
Yes, you can trade Japanese shares with OctaFX
Can you trade German Shares with OctaFX?
No, unfortunately you cannot trade German shares with OctaFX
Does OctaFX accept bank transfers?
Yes, OctaFX accepts bank transfers for depositing money.
Does OctaFX accept credit cards?
Yes, OctaFX accepts credit cards for depositing money.
Does OctaFX accept PayPal?
No, OctaFX does not accept PayPal.
Does OctaFX accept Skrill?
No, OctaFX does not accept Skrill.
Does OctaFX accept Payoneer?
No, OctaFX does not accept Payoneer.
Does OctaFX accept Neteller?
Yes, OctaFX accepts Neteller for depositing money.
Does OctaFX offer Live Chat customer support?
Yes, OctaFX offers customer support through live chat.
Does OctaFX offer phone customer support?
Yes, OctaFX offers customer support over the telephone.
Does OctaFX offer email customer support?
Yes, OctaFX offers customer support through email.
What languages can OctaFX communicate in?
OctaFX has the ability to communicate and support customers who speak: English
Does OctaFX have a wikipedia page?
No, OctaFX does not have an official wikipedia page.
Does OctaFX offer demo accounts?
Yes, OctaFX offers demo accounts so you can learn their systems before risking any real money.