OctaFX Review
OctaFX Successfully Works In Financial Markets, Providing A Full Range Of Services To Traders Around The World.
OctaFX Review: Summary
Founded In 2011, Octafx Is Home To More Than 6 Million Trading Accounts. It Continues To Gain Market Share With Its Swap-free Offering Plus Generous Bonuses And Incentives. Octafx Claims To Help Forex Traders Earn More, And I Reviewed This Broker To Calculate If The Commission-free And Swap-free Mt5 Trading Environment Delivers On This Statement. Should You Open A Trading Account With Octafx Today?
OctaFX Regulation and Security
Octa Markets Cyprus Ltd Is Authorised And Regulated By The Cyprus Securities And Exchange Commission (Cysec), Under License Number 372/18. Eu Member State Residents Are Therefore Protected By Strict Regulatory Standards, Including Segregated Client Accounts And Protection By The Investor Compensation Fund.
The Non-eu Entity Also Claims To Provide Segregated Client Accounts To Protect Trader Funds, As Well As Negative Balance Protection Which Ensures That Trader Account Balances Never Fall Below Zero.
OctaFX Features
Traders Benefit From A Range Of Additional Education Features And Trading Tools At OctaFX, Including Video Tutorials And Webinars, Plus Regular Forex Market Insights And News. The Brokerage Also Offers Profit And Margin Calculators, As Well As A Forex Signal Service With The Autochartist Plugin And Live Quotes.
OctaFX Also Offers A Copy Trading Service, Which Is Available On The Desktop Terminal And Through The Android Mobile App. The Copy Trading Services Allows Clients To Automatically Copy Leading Traders Based On The Equity And Leverage Of Both The Master Trader And The Copier’s Accounts.
| Features | Status |
|---|---|
|
Regulation
|
Yes |
|
Platforms |
MT4, cTrader, MT5 |
|
Instruments
|
Currencies, Commodities, CFDs, Indices, Stocks, Crypto
|
|
Demo Account
|
No
|
|
Minimum Deposit
|
$25
|
|
Minimum Spreads
|
Unknown
|
|
Commission
|
Unknown
|
|
Maximum Leverage
|
1:500
|
|
Customer Support
|
support@octafx.com
|
OctaFX Account Types
OctaFX Offers Traders One Mt4 And One Mt5 Trading Account. The Minimum Deposit For Both Is $100, And The Maximum Leverage Is 1:500. The Account Base Currencies Are The Euro And The Us Dollar. The Two Differences Between The Two Are 1) Mt5 Remains Swap-free While Mt4 Traders Must Pay A Financing Fee For Leveraged Trading, And 2) Mt4 Does Not Have Index CFDs.
I Highly Recommend The Mt5 Trading Account, As The Cost Savings From The Absence Of Swap Rates Makes A Notable Difference In Profitability. Octafx Classifies The Mt4 Trading Account For The Habitual Trader And Mt5 For The Smart Trader.
OctaFX Trading Platforms
| Platforms | Status |
|---|---|
|
MT4
|
Yes
|
|
MT5
|
Yes
|
|
cTrader
|
Yes
|
|
Proprietary Platform
|
Yes
|
|
Automated Trading
|
Yes
|
|
Social Trading / Copy Trading
|
Yes
|
|
MT4/MT5 Add-Ons
|
Yes
|
|
Guaranteed Stop Loss
|
No
|
|
Negative Balance Protection
|
Yes
|
OctaFX Spread & Commission
Octafx Fees Spread And Commissions Start From Us Dollar 7 With Spreads As Low As 0.0 Pips. OctaFX Does Not Charge Any Deposit Fees Or Withdrawal Fees. There Is No Indication That Octafx Waives Any Additional Broker Fees Such As Inactivity Fees.
| Spread & Commission | Status |
|---|---|
|
Commission On Trades
|
Unknown
|
|
Fixed spreads
|
Unknown
|
|
Min. Lot Size Per Trade
|
Unknown
|
|
Max Lot Size Per Trade
|
Unknown
|
OctaFX Has A Low And Incredibly Competitive Spread When Compared To What Other Brokers Offer By Offering A Spread List That Starts From 0.0 Pips Along With Commissions Charged From Us Dollar 0.02 Per 0.01 Lot Using The Ecn cTrader Account.
OctaFX FAQs
Octafx.eu Is Owned By Octa Markets (Cyprus) Ltd Who Is Regulated By The Cyprus Securities And Exchange Commission (Cysec). Octafx.com Is Owned By Octa Markets Incorporated Which Is Not Regulated By Cysec But Has A Registered Business Licence From St. Vincent And The Grenadines.
Octafx’s Registered Address Is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent And The Grenadines.
The Minimum Deposit Varies Depending On The Account Being Opened. Metatrader 4 Micro Account = 100 Usd; Metatrader 5 Pro Account = 500 Usd.
The Maximum Leverage Offered By Octafx Is 1:500 And Is Available On The Mt4 Micro Account.