OctaFX also includes excellent trading conditions that are readily available to all and not just an elite group of institutional clients. The tight spreads and quick executions are a fantastic benefit for all traders. The technology embraced by OctaFX is of the maximum caliber, making sure that it’s fast, dependable, and effective. OctaFX is one of the best platforms where traders and investors will have many advantages. First, it charges no commission, and the spreads are also tight to ensure everyone knows the details. That means you can copy the trades of other traders or get copied.

MetaTrader is also popular due to its copy trading and automated trading features. MT4 also allows users the convenience of trading directly from the chart. Traders can set up a list of their favorite instruments and follow live quotes in a market watch panel. Trading costs such as spreads are clearly explained on the Spreads and Conditions page.

octafx broker reviews

OctaFX offers a variety of trading instruments, including CFDs on forex, commodities, indices, and cryptocurrencies. While CFDs on shares are not available, OctaFX has a strong variety of CFDs on cryptocurrencies, numbering 30 in total. OctaFX performs well in the category of fees, with tight spreads in CFDs on forex and commodities, no swap fees, no inactivity fees, and no deposit or withdrawal fees. For example, clients with a broker regulated by CySEC can benefit from a compensation fund in the event of broker insolvency. Offshore brokers usually offer higher leverage levels, but few account protections are typically guaranteed. Beginners can benefit from demo accounts, trading in micro-lots, and regularly scheduled educational webinars.

What Can You Trade With OctaFX in 2023?

Opening an account in OctaFX would open the opportunity to collect trading lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through OctaFX and simply exchange the prize lot in this promotion. Prizes that can be obtained by traders include T-shirts, Android Smartwatches, smartphones, and laptops. Traders do not need to worry about the safety of funds at this broker.

That means you can access wire transfer, credit/debit cards, and some eWallets like Skrill. These typically take 1 day to process or less, though a wire transfer may take longer. In some places, you will also be allowed to make deposits through Bitcoin. In terms of the time it takes, wire transfers can take 3-7 business days to complete, while the other deposit methods are all typically instant. OctaFX doesn’t charge traders any commission for holding an order overnight. This physical office presence is still quite light compared with other major brokers, but OctaFX does offer trading worldwide.

Does OctaFX offer phone customer support?

If you are new to the realm of online trading and brokerages, so many facts will no doubt be confusing for you. Getting into the world of online trading requires expert assessing skills and comprehensive understanding. You will get proficient at all the concepts of trading online and brokerages while you keep trading. For starters, you need to select the right agent who’ll constantly be transparent with you. Before any broker enters the market, you should know whether the market is moving upwards or downwards.

octafx broker reviews

Signals in MetaTrader 4 allow users to copy the activity of other traders in real-time automatically. We experienced competitive spreads in forex and some commodities such as gold. OctaFX helps keep costs low with no swap fees and no inactivity fees. For instance, if the deposit amount is $400, then OctaFX will provide bonus promotions of $200.

Special features you can find on OctaFX

Our experts were also offered the chance to win real funds by participating in the OctaFX Champion demo contest. Upcoming competitions, octafx broker reviews duration and rules can be found on the broker’s website. All bank transfers are processed within 1-3 hours of a request.

Traders outside EU can not trust OctaFX and should choose another forex broker instead. Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders. We tested the spreads at OctaFX across different asset classes using a standard account and the MetaTrader 4 platform. The test was done at 8 AM GMT and 4 PM GMT on June 30th, 2022.

Traders pay no financing fees, irrelevant of how long a trade remains open. By taking this chance, we want to underline that OctaFX is a reliable Forex brokerage that always complies with its payment obligations and values its customers. We ensure the fastest order execution and aim to offer one of the most competitive trading conditions in the industry. Trading hours are the times when a particular asset is available for trading. With OctaFX every asset except for crypto is available for trading on a 24/5 basis, Monday – Friday.

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.

Should you need it though, the customer service team is available through live chat, phone, and email to deal efficiently with any problems that may arise. Overall, this is an excellent hybrid combination that can secure the best market prices, lowest spreads, and fastest trade execution. The spreads here start at an extremely competitive 0 pips with $5 per side per lot of commission, or from as low as 0.2 pips with no commission depending on your account type. When it comes to spreads and commissions, OctaFX works both with floating and fixed spreads.

Compare Brokers Similar To OctaFX

Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with OctaFX. This means that no matter the financial situation of the broker, your funds will always be safe.

Besides lots of currency pair, OctaFX also offers some instruments you would like to trade on, such as Forex, Gold & silver, Indexes, Energies and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose. This broker holds a trading contest every week on a demo account with real prize funds that can be used for trading. Another advantage offered by OctaFX is the Trade & Win program.

It will require you to fill in details pertaining to the credibility and security of your account. You will probably also have top go through the standard KYC checks but OctaFX are normally pretty quick with this. This OctaFX review breaks down every one of the applicable non-trading charges for you in detail. Commissions can be fixed or dependent on the traded quantity.