With OctaFX there is no slippage or requotes and commissions on FX pairs are close to zero particularly for traders who have an ECN account. In order to turn your learning steps into a more rewarding process, we’ve developed several demo contests that will allow you to earn real money. You can practice reversal trading, use automated trading, or show your newly built skills to get the first prize. Moreover, you are allowed to hedge your positions, use scalping techniques as well as code your own Expert Advisors on all of these trading accounts.
I only found a phone number missing from the overall support offer. OctaFX allows revenue share, where copiers only pay a fee on profitable trades or fixed revenue per lot, where a trading charge applies irrelevant to the outcome. Copiers may use the filter to evaluate the Master Traders most suitable based on the commission structure. OctaFX maintains 35 currency pairs, five cryptocurrency pairs, five commodities and ten index CFDs.
The license used in trading helps to build a confidential relationship with the customer and build a strong foundation. Every broker has to meet certain CM Trading Analysis rules and criteria to get this government license. If a broker violates the rules or attempts to commit fraud, the license will be permanently revoked.
Moreover, OctaFX offers a 50% direct deposit bonus, a profitable loyalty program, and accelerated deposits and withdrawing funds. OctaFX offers mt4, mt5 and other trading platforms for trading CFDs on stocks. Beginner traders will benefit from well-through-out research tools and educational services. To learn more, please speak to an account manager or customer service representative. It is not a publicly-traded company and is not regulated by top-tier authorities.
Situations, when account balance is prone to becoming negative, might take place when sudden market movements drastically affect the value of assets. Earn more in the markets with particular currency pairs from Monday to Sunday. All of the information and materials available on PublicFinanceInternational.org is not financial advice and is for general informational purposes only. Nor PublicFinanceInternational or any of our affiliates makes any recommendation or implies any action based on the information we proved to you. We don’t make any solicitation or recommendation to take any action or trade or invest in any financial instrument, asset, or commodity. However, since OctaFX is only regulated in Cyprus, investing your money with this broker can contain a higher risk than brokers that are regulated in multiple tier-1 jurisdictions.
In the following section, we will give you more details on it. For trading with real money, you will need to verify your account. That means trade99 review OctaFX will require some documents to verify your identity. Just answer the questions in the account dashboard and upload the documents.
Deposit & Withdrawal Methods
You can put your investment objectives to work with the OctaFX mobile trading app by viewing the Master Rating to decide whom to invest with. The online trading platform is available on the IOS apple store and Android devices with all the data contained in this website. Cryptocurrencies are available on the MetaTrader 4 and MetaTrader 5 platforms.
TradingBrokers.com aim to provide unbiased broker reviews to give traders a clear understanding of the different brokers available to them. Traders can use our free service but should do their own due diligence and make their own decisions. Rates, terms, products and services on third-party websites are subject to change without notice.
Neteller, Skrill, and PerfectMoney are just a few of the payment options available. The broker provides non-EU users a 50 percent bonus on deposits, which is a big plus. You will need to provide your personal ID verification and other documents if you want to sign up for a real account.
How Will Octafx Create Money?
In this platform the overall commission structure of trading depended upon the account type. OctaFX presents traders with a competitively priced, commission-free pricing environment. The EUR/USD starts as low as 0.6 pips or $6 per 1 standard lot, with an average cost of 0.7 pips.
OctaFX shows you how much money you should provide each Master Trader. Traders can either make a direct deposit or transfer funds from their trading account. If you have at least $500 in your OctaFX account then you can download and install the Autochartist trading signals plugin for MT4 & MT5. This tool will automatically conduct technical analysis by scanning the charts for trading signals and will alert you when it finds them. You can specify what signals you want to receive and the quality level of these signals .
Services Offered by OctaFX
I always recommend that traders check them before evaluating the total trading costs. OctaFX could accomplish this via membership with the Honk Kong-based Financial Commission, the primary choice for the most trusted offshore brokers. Other options are third-party insurance to protect client deposits and regular audits published on its website. Octa Markets Incorporated is a forex broker recognized worldwide.
Is OctaFX copy trading legal in India?
No, the company doesn't hold regulations from India's Securities and Exchange Board (SEBI). Since OctaFX is an international company. However, the broker's documents of incorporation allow it to offer financial services to clients all around the world. OctaFX trading is legal in India and safe for everyone.
You can top up your funds with a simple request while you practice and improve your trading strategies. In a show of good faith, OctaFX segregates all funds from the company’s operating capital, and offers negative balance protection to all its clients. No regulatory oversight also means that OctaFX can offer higher leverage and bonuses to British traders, which may be attractive to some. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and has a great copy trading service.
These trading accounts are available to progressive investors that are in need of more enhanced precision in their trading valuations. Overall score of 9 out of 10 considering regulation, compliance, trading account types, fees & trust index into account. With more than a decade of experience and 6.6 million trading accounts from over 100 countries, traders should be able to have trust in OctaFX.
OctaFx Reputation and Reviews
As mentioned briefly above, OctaFX offers 3 main account types. The account type will determine which platform you trade with, as well as the fees charged. That said, OctaFX does offer traders negative balance protection. This will help protect you from losing more money that you have in your account. Regulation is one of the most important factors to consider when looking at forex brokers. A highly regulated broker will offer you more protection and safeguard you from fraudulent behaviour, or in the case of insolvency.
OctaFX processes withdrawal requests between one and three hours. OctaFX offers a 50% bonus on each deposit, and a four-tier status program rewarding active traders. It also maintains a Trade & Win promotion, where each lot counts as a prize lot, redeemable for prizes. Terms and conditions apply, and I recommend traders read and understand them before participating.
Several platforms offer services allowing beginners to copy professional traders. In fact, according to Forex Awards, OctaFX is the ‘Best Copy Trading Platform’. What makes OctaFX’s copy trading platform rise above the rest is the care they put into it. It actually offers a special setting that closely monitors Master Traders, ranking them by efficiency and making sure that copiers do not get misled and engage in risky trading behaviour.
MT 5 Pro Account
They are generally well-suited for OctaFX to provide their Forex/CFD trading services to global clients. OctaFX measures its success by providing cost-effective trading conditions, along with a completely transparent service worldwide, regardless of how high its clients’ expectations are. OctaFX offers a wide range of trading account type suitable for any strategy and any level of experience. xemarket Asset list and leverage overview currency pairs 35 cryptocurrency pairs with 5 commodities and 5 metals. Our in-depth OctaFX covers everything you will need to know, whether you are new to trading or you are looking to add more trading financial instruments and charting tools to your repertoire. Let’s check out all the comparison feature of OctaFX & dig deeper into the OctaFX review.
The daily market suggestions, training sessions and the live chat support is very good and that is why I like OctaFX. It has been hard losing a lot of money to Binary Options and Cryptocurrency Trading, my money has now been recovered thanks to a Recovery Pro. You can reach me here; maggiealder12 at gmail dot com and I will share my experience.
Can I have more than one OctaFX account?
Yes, you can open as many demo accounts as you want in your Personal Area to practise and test your strategies. You can also win real funds by participating in the OctaFX Champion demo contest.
With this, traders will have much more functions in terms of coding your Expert Advisors as it uses a coding language called MQ5. Traders looking at the pro account will have access to the slightly more advanced MT5 platform. The layout for this is different to the MT4 platform so there will be a slight learning curve. As mentioned, OctaFX offers very competitive spreads and with the new rates due to the current COVID-19 epidemic, rates will be even better on all 3 accounts. Both are primary platforms with OctaFX and are the most popular platforms with traders in the FX market. To see the commission that you will pay on a particular Islamic compliant trade OctaFX offers a tool to calculate the commission on MetaTrader 4, MetaTrader 5 and the eTrader platforms.
Deposit fees and Options
In addition, OctaFX is constantly overseen by the relevant authority in terms of safety compliance. We couldn’t leave this review without highlighting some areas where the broker could improve. They take suggestions into account and seem to have acted on the suggestion numerous times. This is one way the team works tirelessly to build its customer relationships.
You can choose from a good selection of payment methods to make deposit and withdrawals. The funding options include wire transfer, credit/debit card, digital wallets and cryptos. I find them to be the quickest and easiest way to move funds between my trading accounts.