I like the cost savings at OctaFX for traders who keep leveraged positions open for multiple trading days. The cost savings for a 1 standard lot EUR/USD position can amount to $60+. OctaFX has recently improved its pricing environment, and I rank the overall trading costs among the best industry-wide, and there is no inactivity fee or currency conversion cost. It is a highly customizable platform, including features such as market indicators, charting tools, EAs, scripts, real-time market execution, and advanced risk management, among others. OctaFX offers three major trading platforms—MetaTrader 4, MetaTrader 5, and cTrader for a variety of devices, including desktop computers, Android, and iOS. OctaFX is a decent all-around broker with several glaring problems. The first is the lack of decent regulation, which for many traders will mean an immediate end to their interest.

• Besides the strict rules to licensed brokers, the FCA also has a compensation scheme that takes cares of traders in case the broker is liquidated.
• OctaFX provides twenty-eight currency pairs, 3 cryptocurrency CFDs, and CFDs on 4 metals, 2 energies, ten of the most popular indices, adding to 47 instruments in total.
• I have taken up the issue with my bank to reverse the transaction.
• Its mobile trading and copy trading service apps remain highly popular, with over 10 million downloads.

This is one way the team works tirelessly to build its customer relationships. However, this offers a range of new features all packed into it neatly. The MT4 and MT5 are standard with only slight variations between Forex firms, the functionalities can be significantly different in addition to spreads, fees, and other tools, features and admin areas. This initial deposit will also be eligible for an OCtaFX bonus of 50%.

How Your Trading Account Works

In addition, OctaFX provides negative balance protection to all its clients, ensuring that no client can lose more than his/her initial investments. Even if the balance goes negative because of Stop Out, the company will make the required compensation and reset the balance to zero. OctaFX accepts all the popular payment methods across the world, but their availability depends on your country of residence. You can use the following methods to load your online trading account at OctaFX.

We introduce people to the world of trading currencies, both fiat and crypto, through our non-drowsy educational octa fx com content and tools. We’re also a community of traders that support each other on our daily trading journey.

More Forex Brokers

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 https://forexreviewdaily.com/octafx/ with traders in the FX market. OctaFX does have a reputation in the financial industry for offering one of the best Islami accounts. The firm’s accounts are Shariah-compliant and no interest will be charged on overnight positions.

If you are a beginner, you can use your demo account to learn trading. If you are a seasoned trader, you can use your demo account to test new Forex strategies. If you want to practice Forex trading without risking your own money, you can open a demo account at OctaFX. As the holder of a demo account, you qualify to participate in a number of contests with real money prizes. The Trade & Win promotion gives traders free prizes and gadgets based on their trading volume.

We advise that you read OctaFX’s risk disclosure, customer agreement, and terms of business before you start trading. In order to enter this contest, traders must open an MT4 account and denominate it as their contest account. Traders then have to make the highest possible profit and traded volume with the best profit/loss ratio. The closer traders are to the top in these three categories, the higher their chances of winning.

Overview Of Trading Platforms

It makes a tremendous difference for leveraged traders keeping positions open overnight. Traders pay no financing fees, irrelevant of how long a trade remains open. Please note that OctaFX is a reliable international broker, and we’ve been providing our services to millions of traders for over 11 years. We can trade without any problem and we have support staff of octafx to guide us if a problem rises. Comparebrokers.co needs to review the security of your connection before proceeding.

The site features a range of short tutorials covering everything you need to know to get started – from Forex Fundamentals to Predicting the Market. Each tutorial is a mix of video and text and is well-packaged and easy to understand; learners are tested frequently on the material and the entire website is free of charge. Overall, an excellent resource for beginners traders and we hope OctaFX considers expanding it to include intermediate and advanced courses and brings the course in-house.

Types Of Octafx Accounts

OctaFX is at present operating via a Saint Vincent and the Grenadines subsidiary. This enables users to trade with an ECN broker under European regulatory oversight with enhanced levels of safeguards. Some brokerage won numerous awards such as best ECN broker 2020 according to World Finance. MT4/MT5 trading platforms exist as a desktop client, supporting all features, a lightweight web-based trading portal for manual traders, and a mobile app. The conduct and operations of forex trading is illegal, and also violates FEMA Regulations.

We’re here to create a cost-effective trading experience where Forex traders, new and professional, can earn more with the same investment. For instance, if the deposit amount is $400, then OctaFX will provide bonus promotions of $200. The https://finviz.com/forex.ashx user needs to divide their bonus by half $200/2, which will give them 100 lots to credit the bonus offerings. To have an OctaFX Login ID, account verification, Users need to fill up a regulatory digital form to authorize their email ID.

Octafx For Beginners

With this in place, the user will not lose out on funds that were invested originally at the start. This allows a lesser chance of falling into the risk of losing money rapidly on all the investments you made. OctaFX trading hours to specified period of time when participants are able to transact in the foreign exchange. OctaFX trading also offers market insights on ECN exchange practices,high risk appetite that users can avoid during market exchanges, and strategies for optimal returns on investment advice. The Forex market exchange resources also provide analysis of the current market so that the user can make an informed decision.

No regulatory oversight also means that OctaFX can offer higher leverage and bonuses to British traders, which may be attractive to some. Before www octafx risking your money, why not try OctaFX’s platform risk-free in a similar, virtual trading environment by signing up for a demo account.