Octa Fx was awarded the best forex trader in Asia. That’s a big one, but traders still want an OctaFX review.
While Octafx is popular for many things especially for their copy trading platform, there are other things to look at in this broker.
If you are thinking of trading with octa fx, then there are some things to consider;
The table below is a summary of octa fx review
|Free Bonus||50% Deposit Bonus|
|Octa FX Spread||Floating, starting at 0.6 pips|
|Deposit Methods||Cards, Skrill, Neteller, BTC, ETH|
|Withdrawal Methods||Cards, Skrill, Neteller, BTC, ETH|
IS OCTA FX Safe and Legal?
Yes, Octa FX is safe and legal as it is a regulated broker.
but generally speaking, forex is risky. Therefore the fact that Octa fx is safe and legitimate doesn’t mean you are going to make money on their platform.
Octa fx is particularly popular for its copy trading platform.
Also, octa fx has sponsored sports organizations like Southampton FC, Bali Sports Foundation, and Rip Curl Cup in the past.
In terms of regulation, Octa does not clearly tell us what regulates its platform. The best I found on their website is “Octa Markets Incorporated, registration number: 19776 IBC”.
OCTA FX FAQ
Floating, starting at 0.6 pips. This spread typically varies for each currency pair traded.
Octa Fx Minimum deposit for visa card is $25 while payment methods like Skrill, Neteller, and master card have $50 minimum deposits. Traders from Nigeria are also able to deposit a minimum of 15,000 Naira
Octa fx leverage is 1:500 for currencies. This leverage then reduces depending on the asset you are trading. (1:100 for ZARJPY), 1:200 for metals, 1:100 for energies, 1:50 for indices, 1:25 for cryptocurrencies
The minimum withdrawal is $5 to Skrill, Neteller, and then $20 for Visa card and then N1750 for Nigerian customers depositing via bank account.
Yes, Octa fx is legal. The broker is a winner of many awards and also a sponsor to reputable sports organizations.
Yes, Usually Octa fx gives a 50% Bonus on each deposit. Note that It is required to trade (bonus amount)/2 (bonus amount divided by two) standard lots to be able to withdraw a bonus.
You can deposit into octa fx via visa and master cards, skrill, Neteller, ETH, BTC, and direct bank transfer if you are in Nigeria.
Octa fx is a zero commission forex broker. They typically charge you through their spreads.
Octa Fx Account Types
Octa fx has 2 different account types. These account types differ in terms of the trading platforms. and yes they have an Islamic account type.
1. Octa Fx Mt4 Account Type
Their MT4 account type is for provides the metratrader 4 platform.
These are some of the features that makes it different from their MT4 account type;
- Maximumm Volume is 200 lots
- Swap / Swap free commission
MT4—perfect for those who have just started trading online and more experienced traders looking for minimalistic yet sophisticated platform.
2. Octa FX MT5 Account Type
Their mt5 account type supports the metatrader 5 platform.
The mt5 account types all the features available in MT4 and some other additional features.
MT5—combines simple interface of its predecessor with a number of new features covering the needs of both technical and fundamental traders; a wide range of chart timeframes, indicators and graphical objects for more profound technical analysis.
Octa FX Trading Platform
Octa fx offers the following trading platforms to traders
- Mobile App
- Copy Trading Platform
Octa FX Trading Instruments
- Index CFD
Octa FX Education
Octa fx provides education to help new traders. Educative materials includes
- Blogs Articles
- Video Training
- Faq Support Material
Summary OCta fx review
All the information above is the summary of what to expect on the octafx forex broker platform.
My honest opinion of octa fx is that, the broker doesn’t really have the interest of traders at heart.
Yes, they do have a popular copy trading platform. but I could not find much about who and what regulates their services.