With the help of advanced technology, great commission & fee, and super Customer Service, OctaFX has managed to expand its arms into more than 100 countries. Now, they have more than 300k live accounts and achieved the milestone of $4 Billion in daily volume.
OctaFX Broker started their career with CFDs and Forex Trading which has got the eye of the investors over the past 7 years.
With the help of advanced technology, great commission & fee, and super Customer Service, they have managed to expand their arms into more than 100 countries now.
"Now, they have more than 300k live accounts and
achieved the milestone of $4 Billion in daily volume"
The stats are really attractive and impressive, but the real question is, “Are they really trusted?”
In this article, we will talk about everything “OctaFX Broker” in order to help you understand whether this marketplace is worth investing in or not.
So without wasting any time further, let’s rock and roll straightaway!
Yes, they are regulated by the FCA (Financial Conduct Authority), which is one of the strictest forms of regulation.
OctaFX Broker got themselves registered back in 2011 under license number 19776 IBC, and they are fully compatible with International Financial Regulatory Standards.
In short, they are regulated by one of the best and strictest regulations in the Forex Industry. You can rely on them when it comes to regulations.
Let’s now talk about the account types of “OctaFX Broker” so that you can choose the best one for your needs.
So basically, OctaFX Broker is dealing with three types of accounts:
When going for opening the account, it’s better to check out all the details related to the Broker because this will help you determine the fee and trading restrictions.
Let’s discuss all three account types.
This account is for beginners who are eyeing starting their Forex Trading with a “Limited Budget” and all sorts of ease. The micro account runs on MetaTrader4, and the minimum deposit fee is $100.
Let’s discuss more things about Micro accounts in an informational table:
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It’s time to move to the next level if you’ve already understood “How to trade and how to deal with everything in the Forex.”
Pro-Account of OctaFX Broker uses advanced technology as compared to Micro Account. You’ve to do trading in MetaTrading5, and the minimum deposit amount here is “$500.” This account offers you lower spread as compared to the other accounts, and that means “You don’t have to pay any fees when dealing with high volume trading.”
Let’s discuss more Pro Account:
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Finally, you have the account which is being used by the experienced and professional investors where you avail the opportunity of using the OctaFX Broker cTrader Platform.
This account isn’t for the beginners and Intermediate levels because you’ve to deal with “Lot Commissions.”
Let us make you understand more about ECN Accounts by breaking down the information in a table:
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Note* They have an Islamic account too that works 100% on the Shariah, and you’ll have to pay no interest fee at all.
There are three types of trading platforms that “OctaFX Broker” is working with:
Note* You can download all these platforms from the official website of OctaFX Broker or by Clicking here.
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As we are done with discussing the basic information related to OctaFX Broker, now it’s time to discuss the critical details about this platform.
Let’s rock and roll!
We have discussed the spread of the OctaFX Broker account already, but let’s break the spread of each account here to make you understand things more clearly.
As you know, there are three types of accounts that OctaFX is dealing with:
So, these are the spreads that OctaFX Broker is working with, and you can choose the perfect fit for you by selecting the right account.
Just like other brokers out there, they work on two types of executions:
Instant Execution is for those who want to sell their assets at a fixed rate, and they have to wait for the prices to reach a “Specific Point.” Once they get what they desire, they sell their assets, and that’s how Instant Execution works. You can set the milestones by using different tools in the MT4, MT4, and cTrader.
Market Execution is a completely different scenario because you no longer have to deal with setting the price and waiting for the prices to meet your expectations. All you’ve to do is to set the volume of your assets and leave the rest on the “Forex Market.” Your assets shall be executed at the best price possible.
But, you need to understand the core concepts of both the execution types, and you’ll get to know when you start using the “tutorials” of OctaFX Broker.
Every account has a different commission and fee that they need to pay when executing any Forex trading. Let’s break down the Commission and Fee for each of the accounts down below:
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Let’s now talk about the leverage/margins of all the account types.
As we have discussed above, OctaFX Broker is known as a CFD Broker, and you’ve to deal with the trading on the basis of leverages.
So, it’s important that you know about the leverages before you open up the account. Let’s write down the leverage of all the account types below.
They are an award-winning company for a lot of reasons and let’s break down some reasons:
Additionally, they have Phone Numbers and Email Address as well to answer your questions. Here are the numbers for contacting me:
You can contact them anytime, and they will reach out within no time. They have such a great customer care service, and that’s why people love to choose this platform over any other.
Now, if you’re satisfied with the details that we have mentioned above, you can head towards the opening of the account by following the instructions down below:
Overall Rating
To open the account, you need to follow the instructions down below:
Things aren’t going to end up here; they might ask you for the following details before you actually start trading:
Once you enter all the information, you’re all set to get started!
Now, you must be wondering about “How to withdraw profited money, right?” The answer is pretty simple, and you’ve to follow the instructions to withdraw/deposit your money.
Here we go!
Follow the instructions to withdraw your money from your wallet:
If you want to withdraw your money from your trading account, then follow the instructions given below:
Now click on withdraw button, and it will take no more than 1-3 hours to reach the payment to your account
You’re done
They have made the withdrawal process so easy so that you don’t have to face any problems.
There are a few advantages and disadvantages of OctaFX Broker that you need to know before you actually open your account on this platform:
Let’s get started!
Now then, we have discussed almost everything regarding the topic “OctaFX Broker,” and it’s time to discuss Bonuses, Promotions, and Contests.
