See below to know about the various available platforms of OctaFX. A great user experience is crucial for every trading platform to build and maintain their customer’s trust. From our experience, the broker is doing a pretty bad-ass job at it. If you take a deeper look at the reviews, you will often find in-depth replies to the comments, not just templates. This is just a small example of how OctaFX is genuinely caring about the experience you as a trader have, and it reflects our personal experience with the OctaFX support staff very well. Apart from that, the platform is also easy to navigate and clean; we very much like the usability of OctaFX overall.
Hugo’s Way vs. Kot4x: A Comprehensive Broker Comparison
The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment. It’s essential to note that the trading instruments offered under the OctaFX brand may vary depending on the customer account holder and country of residence due to regulatory restrictions.
- Taking a look at the CFD markets available from OctaFX, it is noted that they offer a little more than 70 assets in total.
- It’s important to note that OctaFX requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks.
- Firms must comply with a number of rules on how they can advertise services to customers.
- Traders come to the OctaFX offer for the experience of trading with Octatrader, MetaTrader 4, and MetaTrader 5.
- They are well known for being one of the best STP (Straight Trough Processing) ECN brokers on the market.
Whatever you are looking to trade, the varying OctaFX account types will be able to provide you with what you need. However, if you’re looking for a broker that does offer cTrader, you can explore other options available through the provided link. Please be aware that trading in financial assets with OctaFX carries a risk of loss. OctaFX trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools.
OctaFX review 2024 is where I will explain how OctaFX is proud to present fast execution for the trades to the customer to make sure the trades would finish as fast as possible. It also provides for detailed analysis with market reports and more to offer. During this period you will be featured on a leaderboard for your virtual trades with the aim to reach the top where real prizes of up to $1,000 withdrawable money on MT4. Overall, this is an excellent hybrid combination that can secure the best market prices, lowest spreads, and fastest trade execution.
The OctaFX mobile app is available for both iOS and Android devices. It allows users to access their trading accounts, place orders, and manage their portfolios on the go. The app has received positive feedback for its intuitive interface and responsive performance. A demo account is perfect for beginners to learn trading basics or for experienced traders to test new strategies. The broker’s website, octafx.com, has over 12 million trading accounts opened by clients from all over the world.
OctaFX MetaTrader 4 (MT
This initiative boosts trader motivation and offers tangible incentives along their journey toward prosperity. For a long time in the OctaFX trading, Argentina, Australia, Austria, Bahrain, Belarus, Brazil have been trading deposits. Also, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark are far ahead in terms of business investment. Renowned European countries such as Estonia, France, Finland, Germany, Greece, Hungary, India, Ireland, Israel, and Italy are directly involved in OctaFX investment. OctaFX includes many more countries, including Kuwait, Malaysia, Malta, Mexico, Monaco, the Netherlands, Norway, Latvia, and Liechtenstein. However, Lithuania, Luxembourg, Oman, Poland, Portugal, Russia, Saudi Arabia, Slovakia, Slovenia, South Africa, Sweden, Spain are still trading here.
We encourage constructive feedback
What is even more important is that for any of the reviews that were not that positive, the OctaFX team has followed up with the reviewer. They have taken suggestions into account and appeared to have acted on them a number of times. For those traders who have chosen the pro account, you will be able to use the slightly more advanced MT5 platform. 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.
Bonuses 💶
Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. You can close your Octafx account by emailing the customer support group at requesting to delete or close your account. OctaFX has multiple contests, including a demo contest and an Archive contest. You can win up to a $1000 prize in the demo or Champion contest by efficiently trading with your demo account.
As OctaFX is a CFD broker, you will be trading on margin and using leverage. This will mean that although your gains will be higher, unfortunately your losses will be too, due to the leverage. The broker is required to contribute towards a shared investor protection fund. This fund will be there to protect all accounts that hold $20,000 or more in the event of insolvency. Log in to your OctaFX account, go to the “Withdrawal” section, octafx broker reviews select your preferred payment method, enter the withdrawal amount, and follow the instructions. You can use bank transfers, credit/debit cards, and various e-wallets to deposit funds.
- There is also a Trader’s Glossary with precise definitions of common forex terms to help clients become familiar with different trading terminologies.
- Now for experts who swear by the industry standard MetaTrader platform, OctaFX has you covered there too.
- Both account types offered by OctaFX cater to different trading preferences and goals.
- We want to ensure you have all the knowledge necessary to use the OctaFX trading tools confidently, from depositing and withdrawing funds to executing trades.
- Since its establishment in 2011, OctaFX has been a prominent name in the Forex trading industry.
Just deposit money into your account, pick a successful trader, and start an invention. You will get additional money to increase your margin if you activate the bonus. But first of all, you can not pay out the bonus, you can only use it to make more profit. For withdrawal of the bonus, you have to do a certain turnover in trading volume (The bonus amount in lots divided 2). For trading with real money, you will need to verify your account. That means OctaFX will require some documents to verify your identity.
For traders who want to practice before committing real money, OctaFX offers a free demo account. The demo account is fully functional and provides access to $10,000 in virtual funds, enabling users to test their trading strategies in real market conditions. OctaFX offers a commission-free trading environment, which is particularly appealing to cost-conscious traders.
OctaFX Affiliate Program Features
OctaFX Islamic accounts are available quickly and conveniently where needed by simply clicking “swap-free” when you open a new account. If you need an OctaFX Islamic account, then these are also available. Here will have an account that is totally Sharia law compliant and benefit from the award-winning service of OctaFX in the area.
If you are a heavy technical analyst then you can create your own charting indicators through the cTrader developer network. Of course, this may not really be needed when you consider that there are already 70 different indicators included on the platform. This is the platform that will give you the STP access with some of the lowest spreads on the market. For the most efficient trading experience we will advise you to use their computer based trading software. You are also likely to have less latency as you are connected directly to their servers. For example, you have advanced order forms where you can set parameters around your positions.
Feel free to follow our social media platform to keep up with our most recent news and promotions. If you have any additional questions, you can get in touch with us via live chat or email. OctaFX operates under several regulatory authorities to ensure that traders are protected. The broker’s primary regulation is provided by entities in reputable jurisdictions, ensuring that their services adhere to high standards of safety and fairness.
They have won the best customer service in Asia award by the Global Banking and Finance magazine. Customer service is one of those things that can really make or break your trading experience. As mentioned, Metaquotes develops a mobile application for both the MT5 platform as well as the MT4. These are perhaps one of the most downloaded trading apps in the world and have been perfectly honed over the years. This is currently only available in Android but the app seems to have pretty good reviews from the users. Over 80% of all the reviews in the Google play store are 5-star reviews.
Let me tell you through this Octa fx review that the broker was authorized and regulated by the UK’s Financial Conduct Authority (FCA) until recently. That is, FCA requires some strict rules that agents must adhere to in order to obtain the license. For instance, the brokers must hold at least £730,000 in tangible assets to prove their financial stability. In addition, they have to keep client funds must be held in segregated accounts separate from the company’s operational funds. Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry. 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.
The cTrader trading platform is designed specially for electronic communication networks ECNs, and offers direct STP access to currency trading markets. STP (Straight-through processing) is basically done through electronic transfers. With cTrader, users can trade directly with prominent banks globally. It has no restrictions on Stop/Limit levels and allows users to perform multiple functions like reverse, double or close all positions in one click.