Pros and cons of the OctaFX trading platform

OctaFX web terminal desk
Large
choice
of assets
Trading on
industry-leading platforms
No commissions
deposit and withdrawal
Broker
reliable and innovative
Bonus of
50% on each
deposit
The spreads
lower
of the sector
Posted on 9 September 2021
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10 min read
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

It is always a challenge to make money online. You need to have a lot of skills and patience. Still, Forex is considered one of the best ways to get a profit if you have at least basic financial literacy. Though, all beginners keep making the same mistakes when starting trading. And one of them is selecting the wrong platform. So, we have prepared this OctaFX review to help you learn more about the platform and criteria you need to take into account when depositing real money.

Short Intro

OctaFX broker was created in 2011 to provide services for online currency trading in international financial markets. OctaFX owner is the Octa Markets Incorporated group of investment companies. OctaFX is headquartered in London, UK. At the very beginning, the company did not have any license and the customer trust was rather low. This drawback was quickly eliminated as the broker obtained approval of CySEC. It allowed OctaXF to attract traders from 100+ countries in practically no time.
2011
The company opened access to MT4 platform
2012
Local currency payment added
2013
50% deposit bonus introduced
2014
Launch of IB program
2015
The possibility to activate Islamic account
2016
The broker added education section
2017
Autochartist feature
2018
Launch of “Invite a friend” program
2019
New instruments XTIUSD and XBRUSD
OctaFx-awards
OctaFx-awards
OctaFx-awards
OctaFx-awards
Within only a few years, there were over 6 million trading accounts opened on the platform. The total number of deals surpassed 500 million. Furthermore, the company has already paid out more than $6 million of various bonuses. The broker keeps developing the platform, adding new interesting features like swap-free accounts, ECN accounts, low spreads, copy trading.

The broker has received a lot of international awards in the Forex industry proving to be a trustworthy intermediary in the financial markets.
currencies;
CFD contracts;
índices;
commodities;
metals;
cryptocurrency pairs.
The Best Broker

OctaFX regulation

When traders, and especially newbies, open a trading account with a new broker, they hardly think about what licenses this company has. And this is a big mistake, since cases of unscrupulous and poor-quality brokerage companies are not so rare. Therefore, before opening an account with any broker, you need to know which authority regulates its activities.

OctaFX origin country is Saint Vincent and the Grenadines. Here the legislation is very tolerant to the activities of financial companies.

So to dispel doubts, the broker obtained permits from several regulators:

  • CySEC - Cyprus Securities and Exchange Commission
  • FCA - UK Financial Conduct Authority
  • IFSA - International Financial Services Authority
  • In addition to above, all clients’ funds are segregated from company assets.
Licenses-OctaFX
Licenses-OctaFX
OctaFX Awards
After verification, you can fully use the platform, including the fund withdrawal function.

OctaFX account types

OctaFX demo account

OctaFX demo accaunt
The demo account allows a trader to practice trading in a risk-free environment. Demo accounts are especially essential for beginners who need to gain experience in trading. But these are also used by experienced traders who need to test their trading strategies and study the broker's offerings before registering a live account. You can use a training account right after the OctaFX login on the site. You will be able to try trading without risking your funds. Furthermore, if you show high results here, you can even win a real money prize.

Platforms

Traders can operate on the following trading platforms: MT4, MT5, and cTrader.
MetaTrader 4 (MT4)
MT4 includes charting tools, market indicators, scripts and advisors, advanced risk management, real-time market execution and much more.

Open MT4
MetaTrader 5 (MT5)
MT5 is a multifunctional platform with technical and fundamental analysis tools, copying and automated trading functions. It has many types of orders and execution modes.

Open MT5
cTrader
This software solution is still new, but despite this fact, it has already become widespread in a fairly short period of time. This terminal has a very intuitive interface and the possibility of personalization. There are two versions of this platform: for PC and for mobile devices.

Open CTrader
The broker offers OctaFX demo contest on a weekly basis with an attractive prize that is split among 5 participants. To win it, you do not even need to create an account, you just need to trade on a demo account and get the highest virtual profit.
OctaFX mobile app
The broker also supports mobile devices – you can trade via OctaFX app. There is practically no difference between a desktop version and application – you will have access to exactly the same features. It is especially convenient that you can use one and the same account for all platforms. It enables many traders not to miss favorable deal moments. You can also download APK OctaFX copy trading program to your mobile and get a profit without direct involvement in trading. You will easily find links to these apps on the official site of the broker.

Additional services

OctaFX copy trading
This service offers the ability to automatically copy leading traders and forget about the hardships of building your own trading strategy. All you have to do is to select the best Forex traders and diversify your trading portfolio. For this, you should study the leaderboards on the site and analyze the trading history of top traders. This service is not free. You will either pay a commission for the lot you are trading or part of the income. In simple words, it is a fee a professional trader charges so that you can follow him.

You have full control over the process and you can change / stop copying trades at any time. When you unsubscribe, all funds invested in the master trader and any profits from copying are returned back to your account. Make sure all current trades are closed before unsubscribing. This tool enables traders to generate additional stable income by copying more experienced market participants.

Open copy tradnig
Become a master
You yourself can become a trader whose transactions will be copied. OctaFX trading platform offers its clients an additional source of income - open a Master Trader Account, describe your strategy and set a commission to allow others to copy your trades.

It will allow you to showcase your trading talent as well as build a community. Of course, it is a great method to earn passive income.

Open Become a master
Autochartist
OctaFX users can access AutoChartist trading signals, which offer a number of benefits for both beginners and experienced traders, such as:

  • You receive automatic alerts to open and close trades
  • You get access to advanced volatility analysis tool to optimize stop loss and take profit levels
  • You can instantly react to important price movements.

Auto chart feature will allow you to close up to 50% more orders with a profit.
However, in order to get the AutoChartist trading signals tool, users have to deposit more than $ 1000 into their trading accounts.

Open Autochartist
The proprietary BDSwiss WebTrader is completely web based, so you don't need any BDSwiss download or installation, you can access your trading directly from your browser. The platform has a user-friendly interface and quite powerful analysis functions, including technical analysis and risk management tools.

Сustomer support

The broker supports interaction with the traders via several channels. Here are some details:
Live chat
You will find a chat window on the official site.

It is round the clock service and the fastest one. It takes a couple of minutes to receive a response from a company specialist. Just enter your name and email and type your query.
Email
support@octafx.com

If your question is not urgent, you can send it by email. Always send such messages from email you used during registration for the operator to easily identify your account.
Telephone
+44 (20) 3322-1059
Great Britain

+ 852-5808-8865
Hong Kong

+62 (21) 3110-6972
Malaysia
Contact form on the site
https://www.octafx.com/contact-us/

Another way to contact OctaFX support is by filling out the contact form. You will need to fill in your email address to receive a response. You will have to describe the problem as you will not be able to attach files.
WhatsApp
+34 (691) 370-613

There is also a link to this channel on the website.
Live chat
You will find a chat window on the official site .

It is round the clock service and the fastest one. It takes a couple of minutes to receive a response from a company specialist. Just enter your name and email and type your query.
Email
support@octafx.com

If your question is not urgent, you can send it by email. Always send such messages from email you used during registration for the operator to easily identify your account.
Telephone
+44 (20) 3322-1059
Great Britain

+ 852-5808-8865
Hong Kong

+62 (21) 3110-6972
Malaysia
Contact form on the site
https://www.octafx.com/contact-us/

Another way to contact OctaFX support is by filling out the contact form. You will need to fill in your email address to receive a response. You will have to describe the problem as you will not be able to attach files.
WhatsApp
+34 (691) 370-613

There is also a link to this channel on the website.
OctaFX support
OctaFX support
OctaFX can answer your question in any language you need. The translators will deal with your question and give you the answer in your language. Another way to contact OctaFX support is through social networks. So if you have Facebook, Twitter or Instagram, you can ask a question on these platforms.

Overall, traders give positive assessment to the broker’s support – 96% of all users are satisfied with its work according to OctaFX review..

Bonuses

Any client of OctaFX who has verified his identity can receive a bonus from 10% to 50% for account replenishment. If the client makes several deposits at some intervals, he can request a bonus for each deposit. The client chooses the amount of the bonus himself. The percentage of the bonus can be 10-50%. Bonuses are not cumulative.

To withdraw each bonus, you need to make a trading volume of 1 lot for 2 dollars. If the deposit is withdrawn before the bonus is worked out, the bonus is debited. Profit can be withdrawn without restrictions.

Deposits and withdrawals

Following good practice of other brokerage companies, OctaFX offers its clients several payment options.

You can realize OctaFX deposit via the following channels:
Credit/debit card
Neteller and Skrill
Crypto wallets
Bank transfer
The broker keeps adding new electronic services to its platform to make it more convenient to handle financial transactions.

The OctaFX withdrawal has no commissions but the broker asks to use the same method that was used for deposit. The withdrawal processing time depends on the chosen method. For example, to some electronic accounts the payment is made instantly. However, bank transfers can take sometimes even a week.

Educational and analytical materials

The broker provides all the information a trader may need for successful transactions:
Educational materials include Forex basics, video tutorials, instructions and webinars. So even if you are not a pro, you have all chances to enhance your knowledge here.
Analytical materials include market insight and economical calendar. You can subscribe to everyday Forex news to be updated on the latest market situation.
Traders tools can help you simplify transactions and get a better result. You will have access to a trading calculator, live quotes and Autochartist feature.
The platform has an extensive FAQ question section to make basic things clear to you. If you still have queries, you can also contact a technical team with anything you need to clarify in detail.
OctaFX Review

Conclusion

Pros
  • Competitive starting deposit
  • A lot of additional services
  • Many opportunities for passive income
  • Three trading accounts
  • Three trading platforms
Cons
  • Some restrictions on money withdrawals
OctaFX broker
OctaFX is a regulated broker with a well-designed website. Every registered user has access to a demo account and three types of real money trading accounts. The broker provides access to MT4, MT5 and cTrader platforms. It also helps that the broker offers tight spreads and commission free deposits and withdrawals. This broker will be suitable for those who are only starting their careers and for those who have extensive trading experience. Furthermore, there are many ways to get a passive income on this platform. Overall, if you are looking for a new intermediary, OctaFX is a decent choice.
Is OctaFX safe?
The broker is regulated by several reputable authorities – CySEC, FSA, IFSA.
Also, the platform offers protection from negative balance. So if you have lost an amount higher than your deposit, then you will not lose more than your own capital. If something gets out of control and puts you at risk in the market, you will not have to pay for it.
How do I withdraw money from OctaFX?
The broker supports all main payment channels – bank cards, wire transfers, electronic payment services.
What is the minimum deposit for OctaFX?
To get access to full-fledged trading, it is enough to top up your account with $100.

GENERAL RISK WARNING:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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