OctaFX Review: Your Gateway to Affordable and Diverse Trading

OctaFX Review: Your Gateway to Affordable and Diverse Trading

OctaFX was established in 2011 and they are based in St Vincent & The Grenadines. The holding company that controls the broker is called Octa Markets Ltd and their offices are at suite 305, Griffith Corporate Centre, Kingston. We couldn’t leave this review without highlighting some areas where the broker could improve. The best part is that most of the content is free of charged and can be viewed on the firm’s website.

Live chat is the main means of contact; it provides quick help and is open 24/7 in English, Hindi, and Urdu, among other languages. Traders can email the support staff at for non-urgent questions. The mobile app is also offered for both platforms, while apps are simple to use and offer a wide range of tools at the same time. MT5 mobile offers various charting capabilities and customization which is fantastic for mobile trading along with full management of your account.

Octa Features

Due to that, we highly recommend OctaFX as a great place to copy trade but caution you to remember that due to a limited number of assets, your portfolios can be less diversified. This can result in comparatively bigger movements than a well-diversified holding so is something to keep in mind. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading.

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Overall fees are at good level and spreads are on lower levels compared to industry, some deposits and withdrawals are free of charge but it is necessary to check conditions fully since rules based on enityt conditions. Given its responsive and multi-channel customer service and the supplementary resources provided for customer support, Octa showcases a strong commitment to assisting its clients. There is certainly room for enhancement, such as the introduction of 24/7 support, yet the existing offering should meet the needs of the majority of traders and can be considered dependable. OctaFX has invested significantly in educational resources, offering tools like Autochartist, trading signals, market research, and news updates. Customer support is accessible 24/5 through various channels, including live chat, phone, WhatsApp, Telegram, email, and even postal mail.

The best Broker platform ever

• MetaTrader 5, and OctaTrader giving you a decent choice for personalising the way you can trade with the broker.
• The software showed robust charting tools and broad technical analysis capabilities throughout testing, therefore enabling users to personalize their trading environment properly.
• Octa extends three types of trading accounts to suit diverse user needs – the Micro (MT4), Pro (MT5), and the OctaTrader account.
• With so many options and reviews that seem too good to be true, how do you know who to trust with your hard-earned money?
• These typically take 1 day to process or less, though a wire transfer may take longer.
• Octafx very good company.super trading platform system and amezing costomer support chatting and Gmail costomer support chatting very good information time to time thanking you.
• Dear Pwashikai Akila Jeremonth, Thank you for taking the time to share your review and for highlighting some of the key features that you appreciate about Octa.

This means that they do not operate a dealing desk and can therefore give you some of the lowest fees. We would advise you to stick to the web-based version for more advanced options and a better experience. The app is available on Android and iOS for MetaTrader and cTrader platforms through iTunes and Google Play where it has very high reviews. Not only this, but the OctaFX team follows up with reviewers. However, this offers a range of new features all packed into it neatly.

In this Octa Review, I’ll go through my findings helping you decide if Octa is a broker you should consider. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out Octa’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more. Trading instruments provided by Octa have some of the lowest spreads in the industry.

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This has greatly contributed towards the team’s 96% customer satisfaction rate. Any heavy technical analysts out there can create customizable charting indicators through the developer network. Of course, you may not need to do this at all consider the fact there’s over 70 different indicators already on the platform. Like the MT4 platform, this platform allows you to trade on a computer, and mobile, either on iOS or Android. For example, the winner of the Champion demo contest will win $1,000 which will be credited to your account. The weekly cTrader competition is a draw with a prize of $400 for the lucky winner.

The demo account lets you test the platforms while practising trading in a risk-free trading octafx review environment using virtual currency. Octa offers a demo account for all of its platforms such as OctaTrader, MetaTrader 4, and MetaTrader 5. The demo account is unlimited in funds as you can top it up should you need more virtual currency, and has no expiration date. As for education, I found Octa provides a consistent stream of webinars with professional traders through a live trading session aimed at all levels.

What is surprising though is that they have split the platforms according to the account type that you hold. We have gone over these above and if you are looking to use a particular platform then you will have to open that account. It is also important to point out that all of these accounts have a minimum lot size of 0.01 with no cap on the maximum size of lots that you wish to trade. Finally, you have the ECN account which is run on the OctaFX cTrader platform. This is the platform that allows for STP and the lowest execution latency.

• Many third party sites highlight the company’s continuous pursuit towards addressing customer issues through its wide range of accessible online forums.
• As for the leverage, a known instrument that increases the initial capital you trading with and can be a very useful tool to magnify potential gains is offered by the Octa broker as well.
• Your satisfaction is our top priority, and it is gratifying to know that we have met your expectations.
• I can set up custom price alerts too so I always stay in the loop on market moves.
• Master Traders will receive payment from their Copiers every week, on Mondays at 12am.
• Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account.

Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons. In addition to the markets offered, as an OctaFX trader, it is likely that you may come across some of these extra products that the broker makes available depending on your location. These are all useful and important tools to utilize for any forex trader on all platforms and brokers.

OctaFX doesn’t charge traders any commission for holding an order overnight. Here are a few of the OctaFX account types you can look forward to trading with once you get started. Here you can benefit from the ICF insurance protections provided in the case of bankruptcy or insolvency.

Before risking your money, why not try OctaFX’s platform risk-free in a similar, virtual trading environment by signing up for a demo account. This will give you unlimited access to every trading account free of charge. You can top up your funds with a simple request while you practice and improve your trading strategies. Now for trading platforms – this is really important for newbies. You want a platform that’s easy to use but also has the tools you need. OctaFX’s cTrader platform is great – customizable layouts, technical analysis tools, and automated trading options.