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General Information

    • Broker Name
    • OCTAFX
    • Founded
    • 2011
    • Headquaters
    • Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines, VC0100
    • Broker type
    • ECN, STP, DMA
    • Regions
    • Chinese, English, Indonesian, Malay, Portuguese, Spanish
    • Payments Methods
    • Credit/debit cards, UnionPay, Neteller, Skrill (Moneybookers), UnionPay, Wire transfer
    • Minimum Deposit
    • $50
    • Min lot size
    • 0.01
    • Spread
    • 0.1 pip
    • Spread type
    • Variable
    • Max Leverage
    • 500:1
    • Platforms
    • MetaTrader 4, MetaTrader 5, cTrader

Read Review of OCTAFX Broker

General Information

Octa Markets Incorporated (Octafx) brokerage firm was founded in 2011. It is registered in Saint Vincent and the Grenadines. Company provides online trading services on FX market and has clients from more than 100 countries. OctaFX is an ECN broker (works via ECN-network).

OctaFX is developing at a fast pace. Its main priorities are: trading technologies improvement and high quality of services.

Clients can use following trading instruments:

  • Major currency pairs;
  • Precious metals;
  • CFDs;
  • Oil.

Money Deposit and Withdrawal

To deposit or withdraw money, you can use:

  • Wire transfer;
  • Credit/debit cards;
  • UnionPay, Neteller, Skrill;

Payments are executed within the time frames:

  • Wire transfer (1-3 business days);
  • Credit/debit cards and online payment systems – 1 business day.

Payments have a high level of security, created on the basis of 3D Secure innovation technology.

Reliability

OctaFX is a regulated broker. It works under conditions of IFSA (Saint Vincent and the Grenadines). Nowadays company’s lawyers are preparing documents to get license of European and American financial regulatory authorities.

Broker pays great attention to security of clients’ assets. To achieve this aim, company developed special arrangements, including SSL protocol – private account protection and necessary verification of every client and every trading account. This practically removes unauthorized access to clients’ personal information.

Also, clients can open segregated accounts allowing to keep money separate from company’s funds.

High liquidity level is granted by close cooperation with leading banks and insurance companies.

Bonuses and Special Offers

OctaFX holds contests for demo account owners. Every registered client can take part in this monthly contest. Terms are simple – you have to gain the largest deposit during the month. Minimum deposit – 1000 USD, leverage 1:500; Prize fund of this tournament is 1100 USD, it is distributed the following way:

  • 1 – $500 USD;
  • 2 – $300 USD;
  • 3 – $100 USD;
  • 4 – $100 USD;
  • 5 – $100 USD.

Despite the fact that tournament is held on demo accounts, prizes are real and are transferred to the live trading account of the winner after this account is opened with initial deposit.

You can get acquainted with the list of contests and special offers on the official website.

Trading Account Types

OctaFX clients can use the following account types: OctaFX Micro and OctaFX ECN.

Conditions OctaFX Micro OctaFX ECN
Minimum deposit, USD. 5 50
Minimum trading size, lots 0,01 0,1
Spread type floating floating
Minimum spread, pips; 0,1 0,1
Leverage 1:500 1:500
Quotation Five digits after comma Five digits after comma

You can use US dollar and Euro to open a live account.

Trading Platform Types

OctaFX supports three trading platforms:

  • МetaТrader 4;
  • МetaТrader 5;
  • cTrader.

MetaTrader 4 is the most popular trading platform nowadays. It is powerful and convenient software suite that allows implementing almost all trading strategies. Flexible options and friendly interface allow choosing optimal adjustments, thus providing comfortable trading conditions. МТ4 from OctaFX has the range of unique indicators and advisors that create comfortable conditions for users.

cTrader provides direct access to currency exchange quotations. This professional trading platform was developed for professional traders. With this platform, client gets the most beneficial trading conditions and trades without market makers and other intermediaries. Give opportunity to mobile trading on-a-go.

Customer Service

OctaFX technical support service is really great. It works 24/7. For more comfortable feedback there are different ways to connect with company’s experts:

  • Multichannel phone;
  • E-mail;
  • Interactive forum on company’s website.

You can choose following languages:

  • English;
  • Indonesian;
  • Spanish;
  • Chinese;
  • Malayan;
  • Portuguese.

Pros of Trading with OctaFX

The main OctaFX advantage is its focus on clients. It is obvious that experienced traders helped to create company’s main concept and software products.

As ECN broker, company, in fact, passes orders directly to liquidity providers. Detailed selection and tight cooperation with leading world liquidity providers allow to provide good, and even (for some positions) unique conditions.

Cons

OctaFX disadvantages are:

  • small set of trading instruments;
  • weak news feed source.

OctaFX Reviews

Casey Bullod:

Good, reliable and calm broker. Precise money withdrawal. I couldn’t estimate the speed of orders execution (because can’t count milliseconds), but during my trading here I can’t remember requotes or slippages. I recommend this broker, you can work with it.

FrankU15:

Kind of a downsized broker. Maybe it is “young” and it will grow further, but at the moment company has very poor range of trading instruments. But I have no claims against this broker as for operation quality and precision of orders execution.

Conclusion

Young and promising broker. There are some problems, but OctaFX constantly improving its weak points.

Company is quite ambitious and has many plans, e.g., to get American and European licenses in nearest future.

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1 comment Write a comment

  1. I don’t think that the news feed is poor. I’m a news trader and I get quite enough from the list of sources that they have. Of course, I normally use much more to be on the safe side, but it’s just to be sure. I didn’t expect to get a comprehensive full pack from their site. So again, I wouldn’t list this points as a disadvantage. Some brokers don’t provide any info of this kind at all.

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