Metatrader 4 is the most common, user-friendly and simple structure trading platform with latest technology and cutting edge trading techniques. They provide low competitive spreads, fast execution orders, transparent and fair financial services. Yet, we can forgive this missing point to OctaFX as there are truly many benefits on the trading conditions they provide.
This section is nicely laid out and covers some of the more important aspects of forex trading. In addition to this, the customer support team is multilingual, offering support in languages including English, Malay, Indonesian, Thai, Hindi and Urdu. To begin, the firm has its own proprietary app that allows you to create trading accounts, fund these accounts and modify the leverage as well as other trading parameters.
Deciding on the right platform is also an important aspect of selecting a suitable broker. Different brokers offer different leverage levels, which are usually determined by the trading conditions provided by a particular broker. OctaFX is committed to offering traders a competitive and secure trading experience through fast order execution, powerful platforms, a range of market instruments, and low costs. One of the most important criteria for traders when choosing a broker like OctaFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money. All money funded to OctaFX is placed into a segregated tier 1 bank account.
- Accounts need to be verified before withdrawals can take place and are subject to varying minimum amounts, albeit commission-free.
- I highly recommend the MT5 trading account, as the cost savings from the absence of swap rates makes a notable difference in profitability.
- OctaFX allows traders to select from a number of platforms for the biggest cross-section of trading preferences and levels.
- They have won the best customer service in Asia award by the Global Banking and Finance magazine.
- OctaFx.com will send you an email with your account credentials as soon as you open an account.
- The withdrawal time will be dependent on the corresponding banking institution or payment provider.
On top of that, with every transaction, traders will receive a free 50% bonus. Moreover, with OctaFX, you can trade at the prices you see with immediate execution and there are no commission fees on deposits and withdrawals. Customer service is available 24 hours a day Monday through Friday. The languages supported by the customer support staff are English, Indonesian, Spanish, and Polish, and users can access it through the live chat, email, phone, or an enquiry form. The support desk has a reputation for being quick to respond, knowledgeable and sufficiently in tune with the nature of trading to be able to answer questions at the first attempt. Whilst not leading the market in this area OctaFX do put in a solid performance but the lack of 24/7 support might be significant to some traders.
Free Forex Trading Signals From Autochartist
Most forex broker firms handle only a very small portion of the volume of the overall foreign exchange market. Forex brokers are firms that provide traders with access to a platform that allows them to buy and sell foreign currencies. I was attracted by browser mt4 version that they have and that’s why i joined. I used to use ctrader but its not quite my cup of tea and i prefer the good old metatrder but with the ability to trade wherever i can. In this sense, i like that they have both computer and mobile options.
Overall, because of its long history of responsible behaviour, CySEC regulation, provision of negative balance protection, and wide industry acclaim, we consider OctaFX a trustworthy broker. That being said, in a show of good faith, OctaFX segregates all funds from the company’s operating capital, and it offers negative balance protection to all its clients. This account suits best the needs of traders in their early phase. The proprietary cTrader app is easy to use, robust and well set out to assist mobile trade execution.
Octafx Inactivity Fees
Overall, OctaFX provides quality trading strategy, flexibility in terms of conditions, platforms and instruments it proposes. Before we had some concerns due to its operation only through offshore entity now OctaFX is regulated by the European CySEC aligned with MiFID directive. Therefore means its operation aligned to the necessary protection level. We admit high-tech access to a range of the instrument and multiple platforms either for manual, algorithmic or social trading.
OctaFX allows traders to select from a number of platforms for the biggest cross-section of trading preferences and levels. This platform has a very easy to understand setup and offers inbuilt expert advisors as well as customizable indicators. They offer unique features for both the beginner and advanced trader.
We found well-presented range of tools inbuilt in the platform including Copy Trading, Sentiments, cAlgo, Indicators and analysis tools. OctaFX MT4 available in great number of languages and supporting all trading styles and Micro trading also including Copy and Auto trading. OctaFX has low non-trading fees.There is no fee for Deposits and withdrawals. Comparing the spreads derived from Live Account to industry benchmarks, we checkOctaFX Live spread on Forex to be quite low, but Indices are high.
This fund will be there to protect all accounts that hold $20,000 or more in the event of insolvency. Our primary goal at The Tokenist is to simplify the word octafx review of financial decision-making, so that investing is not only easy — but also fun. In doing so, we often feature products or services from our partners.
There is a minimum payment amount of $50 that you will need to take into consideration. We always like to make mention of the available bonuses when writing our reviews. Those of you interested in signing up with OctaFX will be pleased to learn that there Eurobond is up to 50% being offered on every deposit made. It does, of course, come with terms and conditions, but these are clearly explained in the offer. MetaTrader 5 – This multi-asset platform offers outstanding trading possibilities and technical analysis.
What Does It Mean To Have Your Funds In Octafx Deposited In A Tier 1 Bank?
The MT4 platform is developed by the Metaquotes company as third-party trading software. The platform was developed by traders for traders and has a plethora of tools and charting. We were quite impressed with the selection of online and computer-based Underlying trading platforms at OctaFX. If you wanted to see the commission that you would pay on particular Islamic compliant trades then you can visit this page. It has a handy tool at the bottom where you can select the asset, trade size and account type.
Is Octafx Safe Or A Scam
The company offers low spreads and costs, as well as a great selection of market instruments and trading platforms. When reviewing this company, it is clear that traders of different experience levels and preferences should have a positive experience with this broker. Trading on the financial markets with OctaFX is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase.
Master Traders will receive payment from their Copiers every week, on Mondays at 12am. Copiers will be charged commission the moment a trade is opened, and you will forex trading receive the commission through a special Wallet. This profile aggregates professional traders’ performance, displaying it to the public and letting them promote it.
No Pamm Accounts
Choose from the best Masters of Forex and diversify your trading portfolio. You can join TradeWin any time by opening a real account with OctaFX. For withdrawal requests, the processing time is almost take from 1 -3 hours and validated through an email. However, this will only happen provided personal information about the withdrawer in available and verified. As per the international anti-money laundering laws, Forex brokers need to follow specific rules and OctaFX complies to them all.
Their address of the SVG region is a duplicate address and many companies have the exact same address. Their second claim that they have an association with the reputed Cyprus Securities and Exchange Commission is untrue. The address and the ownership details of the firm associated with the registered broker are different from the address of OctaFx. My OctaFx review suggests traders to stay away from their shady and fraud operations. The European Securities and Markets Authority imposed a ban on the promotional bonus by this firm. OctaFx claims to work under the regulation of the Cyprus Securities and Exchange Commission which works under the ESMA guidelines.
This includes an economic calendar, daily analysis posts, as well as trading signals and market insights. Video content is also provided via YouTube, with much of this content archived. This provides a great digital library of webinars that users can take advantage of. One area where OctaFX stand out is their approach to trader feedback. There is even a forum where traders interested in getting the most out of trading with OctaFX can benefit from airing their views or taking the opinions of others. The cTrader site has a nice aesthetic and intuitive functionality.
It should be noted that traders in the US are restricted from opening an account with OctaFX due to strict US regulations enforced by the CFTC and NFA. OctaFX is a well established forex and CFD broker that has undergone some serious global growth over the past few years. I wonder why I didn’t find this OctaFX review before I signed up in that terrible website. These people are the real crooks of the society and should be rotting in jail.
I have been a forex trader since 2014 and have worked with several brokers in this time. OctaFx became my broker in March 2020 when I thought that switching things up a bit would be beneficial. I have several problems with Octafx and I would like to share all of them here. Because when I posted my review on their Play Store listing, it got removed somehow.
The broker uses separate accounts to keep protected customers funds segregated from the company’s balance sheets. OctaFX review found out that this broker offers several software downloads including MetaTrader 4, MetaTrader 5 and cTrader. MetaTrader 4 is the most popular platform used by traders and offers many tools that facilitate trading. “MT4 web platform allows you to trade from any browser on any operating system with a well-known interface of a desktop platform. All major tools are available including one click trading and chart trading,” – says the company. OctaFX M4 is available for web, desktop, Android and iOS so that users of any type should have ease finding the right fit for them.