OctaFX Review

OctaFX

  • Name : OctaFX
  • Website : Octafx.com
  • Established : 2011
  • Regulation : FCA, IFSA
  • Country : United Kingdom
  • U.S. Clients Allowed : No?
    Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
    See our list of recommended brokers that do accept US traders.
* Ranked #270 of 316 in DailyForex's top broker list

Info

Name : OctaFX
Website : Octafx.com
Established : 2011
Country : United Kingdom
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Generous Promotions and Bonuses
  • Several Account Types
  • Demo and Islamic Accounts

Disadvantages

  • Slightly Geared Towards Clients in Southeast Asia

OctaFX Review

OctaFX Review

OctaFX is a provider of CFD and Forex trading to clients in over 100 countries.  The company is recognized globally for offering the lowest spreads in the industry and prides itself on its award-winning customer support team.

5 reasons to trade with OctaFX:

  1. Clients love OctaFX for its convenience and reliability
  2. Start trading with minimum $50 deposit
  3. Get a free 50% bonus with every deposit
  4. Trade at the prices you see with immediate execution
  5. Pay no commission on deposits and withdrawals

OctaFX Broker Review

Regulation:

OctaFX is regulated by the British Financial Conduct Authority (FCA), one of the strictest forms of regulation in the Forex industry. The company is registered in 2011 in Saint Vincent and the Grenadines under license number 19776 IBC 2011 and is fully compliant with international financial regulatory standards.

Account types:

OctaFX has three different account types: the Micro account allows traders to get started with only a $50 deposit and offers maximum leverage in the popular MetaTrader 4 platform.  The Pro account has the best possible spreads and uses the MetaTrader 5 platform.  The company’s ECN account has the best liquidity and uses the cTrader platform.

OctaFX Broker

Trading platforms:

MetaTrader4

OctaFX offers a choice of trading platforms to meet the needs of traders at all levels and with all preferences.  The MT4 platform is easy to use and offers built-in expert advisors (EAs) and custom indicators. 

MetaTrader 5

The MT5 platform is growing in popularity, with rumors circulating that it may one replace the MT4 platform entirely.  MT5 offers a highly customizable interface, stop limit orders and a built-in economic calendar, as well as many of the offerings available in the MT4 platform. 

cTrader

cTrader is the premier platform for ECN brokers.  It offers Level II quotes, server trailing stops, one-click trading and advanced charting.  Cloud servers keep all accounts and templates in one place.

OctaFX Commissions & Spreads

OctaFX offers ultra-tight spreads. The quotes at OctaFX are quoted at up to 5 decimal places and start from as low as zero pips for their ECN accounts. There are no commission charges applicable for trades with OctaFX.

Instrument

Spreads (in pips)

EUR/USD

Minimum 0.4 pips

GBP/USD

Minimum 0.5 pips

AUD/USD

Minimum 0.6 pips

USD/CHF

Minimum 0.4 pips

EUR/JPY

Minimum 0.6 pips

GBP/JPY

Minimum 0.7 pips

NZD/USD

Minimum 0.6 pips


Deposit and withdrawal options:

OctaFX offers multiple deposit and withdrawal options to make these services easy and convenient for all traders.  Deposit via credit or debit cards, bank transers, Neteller, Skrill and local payment methods in Indonesia, Malaysia, Bangladesh, Pakistan, India, South Africa, Thailand, Brazil and Argentina. Withdrawals can be done with the same methods.

OctaFX Bonus & Promotions

To reward their clients’ loyalty, OctaFX offers very generous bonuses and promotional programs.
 

Deposit Bonus

Both MetaTrader-based accounts and the cTrader accounts qualify for fully withdrawable deposit bonuses in the percentage of 10%, 30% and 50%

 OctaFX

Customer Support

Customer service is available at OctaFX 24/5. Over 2,000 inquiries are handled daily. Email, direct chat, and toll-free phone lines provide access to the company however you feel comfortable. The company also supplies market news, research, and a convenient economic calendar.

Conclusion

After a careful review of OctaFX services and operations, we can say that we’re impressed with what OctaFX has to offer their traders. They seem to really care about their clients and their customer support team is proven to be the most helpful and professional in the industry. In addition, their bonuses and trading competitions make the company especially interesting as many brokers are no longer offer these promotions. OctaFX offers an exhaustive education section and free demo account with exactly the same conditions and execution speed as the real one. It comes in handy for beginners or those who want to test-drive OctaFX services without risking personal funds. What’s more by joining one of their entertaining demo contests, you can win a real cash prize! 

Advantages

  • Generous Promotions and Bonuses
  • Several Account Types
  • Demo and Islamic Accounts

Disadvantages

  • Slightly Geared Towards Clients in Southeast Asia
Review info :
Broker reviewed : OctaFX Rating : 8 out of 10
Reviewed By : Review Date :