OctaFX – Forex Broker review

OctaFX Review and Rating
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Name: OctaFX Review

Description: OctaFX was founded in 2011 and has won over 28+ awards including Best Forex Broker Asia 2018, Best FX Broker 2018 and many more. OctaFX offers both the MetaTrader and cTrader platforms, all major currency pairs and commodities, leverage 1:500 and a first time deposit match of 50%.

68%
68 of 100 1 review
  • Support - 70%
    70%
  • Platform - 70%
    70%
  • Insights - 55%
    55%
  • Leverage - 70%
    70%
  • Commission - 75%
    75%

Summary

Without any doubt, OctaFX is an excellent broker. They have unlimited demo account straight through to their low minimum deposit from just $5 to the range of enticing bonuses and contests they offer. OctaFX has another protection system to protect traders from a negative balance. Customers also enjoy super low costs and the ability to engage in all manner of trading techniques, including scalping, hedging, and auto trading, as well as copy trading. Read the OctaFX forex broker review, rating, and detailed information for their services below.

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User Review
3.5 (2 votes)
Comments Rating 0 (0 reviews)

Pros

  • Negative balance protection
  • Commission-free accounts
  • Fixed spread accounts
  • OctaFX Copytrading App
  • AutoChartist
  • Hedging & scalping allowed

Cons

  • The decision between CySEC regulated OctaFX.eu, or St.Vincent and the Grenadines registered OctaFX.com
  • No US clients
  • Limited trading instruments
  • Limited deposit and withdrawal options, only through Neteller, Skrill or Bitcoin

Money Protection

OctaFX offers negative balance protection, so if your balance becomes negative, they will automatically adjust it to zero. The risk management system ensures that clients cannot lose more than they initially invested as risk is limited only to the funds you have deposited into your account. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with OctaFX.

Company Octa Markets Incorporated
Founded in 2011
Offices in Saint Vincent and the Grenadines, United Kingdom
Payment options Credit/debit cards, FasaPay, Neteller, Skrill, UnionPay, Wire transfer
Demo platforms MetaTrader 4, cTrader
Account currencies Euro, United States dollar
Currency pairs
AUD/CAD AUD/CHF AUD/JPY
AUD/NZD AUD/USD CAD/CHF
CAD/JPY CHF/JPY EUR/AUD
EUR/CAD EUR/CHF EUR/GBP
EUR/JPY EUR/NZD EUR/USD
GBP/AUD GBP/CAD GBP/CHF
GBP/JPY GBP/NZD GBP/USD
NZD/CAD NZD/CHF NZD/JPY
NZD/USD USD/CAD USD/CHF
USD/JPY
Regulated by FCA (UK), 679306
IFSA (St. Vincent and Grenadines), 19776 IBC 2011
Website available in Chinese, English, Indonesian, Malay, Portuguese, Spanish
Support available in English
Support methods Email, Live Chat, Phone
Trading server time zone GMT+2

Features

  • The interest rate on funds
  • Bonus offers
  • Trading contests
  • Trading by telephone
  • Segregated accounts
  • Affiliate program
  • Islamic accounts available

Account Types

Mini Account

Minimum account size $5
Minimum position size 0.01 lot
Spread type Variable
Typical spread on EUR/USD, pips 0.8
Minimum spread on EUR/USD, pips 0.2
Scalping Allowed
Expert advisors Allowed
Trading instruments
Forex 1:500
Gold & silver 1:500
Trading platforms MetaTrader 4
Digits after the dot in quotes 5
Margin call level 25%
Stop-out level 15%
Number of currency pairs (of which exotic) 27 (15)
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading

ECN Account

Minimum account size $50
Minimum position size 0.1 lot
Spread type Variable
Typical spread on EUR/USD, pips 0.8
Minimum spread on EUR/USD, pips 0.2
Scalping Allowed
Expert advisors Allowed
Trading instruments
Forex 1:500
Gold & silver 1:500
Trading platforms MetaTrader 4
Digits after the dot in quotes 5
Margin call level 25%
Stop-out level 15%
Number of currency pairs (of which exotic) 27 (15)
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
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