OctaFX Broker

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OctaFX Broker

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OCTAFX - BEST BROKER FOR ECN & CFD TRADING

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.

Let's Introduce

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!

OCTAFX BROKER REGULATION


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.

OCTAFX BROKER ACCOUNT TYPES


So basically, OctaFX Broker is dealing with three types of accounts:

  • Micro
  • Pro
  • ECN

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.

MICRO ACCOUNT


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:


Platform


MetaTrader4


Spread


0.4 pips


Commission


No Commission


Recommended Deposit


$100


Instruments


Pairs of 28 Currency


Leverage


1:500


Margin/Stop Levels


25%/15%


Swaps


Optional


CFD Trading


Yes


Crypto Trading


Yes


PRO ACCOUNT


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:


Platform


MetaTrader5


Spread


0.2 pips


Commission


No Commission


Recommended Deposit


$500


Instruments


Pairs of 28 Currency


Leverage


1:200


Margin/Stop Levels


45%/30%


Swaps


No Swaps


CFD Trading


Yes


Crypto Trading

 


ECN ACCOUNT


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:


Platform


cTrader


Spread


0 pips


Commission


No Markup, Commission


Recommended Deposit


$100


Instruments


Pairs of 28 Currency


Leverage


1:500


Margin/Stop Levels


25%/15%


Swaps


No Swap


CFD Trading


No


Crypto Trading


No

Note* They have an Islamic account too that works 100% on the Shariah, and you’ll have to pay no interest fee at all.

TRADING PLATFORMS OF OCTAFX BROKER


There are three types of trading platforms that “OctaFX Broker” is working with:

  • MetaTrader4 (Available for Desktop, Android, IOS, and Web-Platform)
  • MetaTrader5 (Available for Web Trading, Desktop, Android, and IOS)
  • cTrader (Available for Web Trading, Desktop, Android, and IOS)

Note* You can download all these platforms from the official website of OctaFX Broker or by Clicking here.


Pros


Cons


You get the clear fee report


None


You can customize tools according to your needs and wants

 


Order Confirmation reports

 

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!

THE SPREAD OF OCTAFX BROKER


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:

  • Micro Account (0.4 Pip Spread)
  • Pro Account (0.2 Pip Spread)
  • ECN Account (0 Pip Spread)

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.

OCTAFX BROKER EXECUTION

Just like other brokers out there, they work on two types of executions:

  • Instant Execution
  • Market Execution

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.

COMMISSION/FEE OF OCTAFX BROKER ACCOUNTS


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:

  • Micro Account (No Commission and Markup)
  • Pro Account (No Commission and Markup)
  • ECN Account (No Markup, Commission)


Pros


Cons


The trading fee is almost zero


International bank withdrawal fee is high


There’s no Forex fee

 


Low non-trading fee

 


Let’s now talk about the leverage/margins of all the account types.

LEVERAGE OF OCTAFX BROKER


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.

  • Micro Account (Leverage 1:500)
  • Pro Account (Leverage 1:200)
  • ECN Account (Leverage 1:500 and 1:200 for Metals)

CUSTOMER SERVICE OF OCTAFX BROKER

OctaFX-CustomerSupport-DailyForexTrading.Net
They are an award-winning company for a lot of reasons and let’s break down some reasons:

  • They reach out to you within 7 seconds for the first reply
  • They take no more than 3 minutes for a full-resolution time
  • They have a 96% of the client satisfaction rate

Additionally, they have Phone Numbers and Email Address as well to answer your questions. Here are the numbers for contacting me:

  • United Kingdom: +44 20 3322 1059
  • Hong Kong: +852 5808 8865
  • Indonesia: +62 21 3110 6972
  • Whatsapp: +34 605 122 333

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:

main features

  • Established 2011
  • ECN Broker
  • Max Leverage 1:500

extra features

  • Social Copy Trading
  • 24/7 Trading
  • Trust Lebel 98 out of 100
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HOW TO OPEN AN OCTAFX BROKER ACCOUNT


To open the account, you need to follow the instructions down below:

  • The first step is to head towards the OctaFX Broker official website, or you can click here to go there

    OctaFX-OpeningAccount1-DailyForexTrading.Net
  • Now click on the Open Account Button that is shown at the top right corner of the website as shown in the screenshot below:

    OctaFX-OpeningAccount2-DailyForexTrading.Net
  • Once clicking on the open account button, you’ll be redirected to a page that will ask you to enter the information to open up the account:

    OctaFX-OpeningAccount1-DailyForexTrading.Net
  • Write down your First Name, Last Name, Email, and Password, or you can direct signup by using your Facebook or Google Account
  • Once done, they will send you a verification link on your email, and you’ve to click on it in order to get started with the account

Things aren’t going to end up here; they might ask you for the following details before you actually start trading:

  1. Credit Card Information
  2. Bank Information
  3. CNIC
  4. Home Address
  5. Selfie

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!

HOW TO WITHDRAW/DEPOSIT MONEY FROM OCTAFX BROKER


Follow the instructions to withdraw your money from your wallet:

  1. Login to your account

  2. Go to the main menu and then tap on the withdraw button under your wallet:
    OctaFX-WithdrawMoney-DailyForexTrading.Net
  3. You’re done!

If you want to withdraw your money from your trading account, then follow the instructions given below:

  1. Login to your trading account

  2. Click on the withdraw button from the menu

  3. You’ll see a list of payment gateways that are available for your region. Pick the one that works well for you

Now click on withdraw button, and it will take no more than 1-3 hours to reach the payment to your account

OctaFX-WithdrawMoney2-DailyForexTrading.NetYou’re done

They have made the withdrawal process so easy so that you don’t have to face any problems.

 

ADVANTAGES AND DISADVANTAGES OF OCTAFX BROKER


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!

ADVANTAGES OF OCTAFX BROKER

  1. The Customer Service is very knowledgeable and responsive as well
  2. The spreads are very tight
  3. The deposit requirements are as low as $100
  4. They have a great signup bonus and promotions going on

DISADVANTAGES OF OCTAFX BROKER

  1. They have limited payment options for withdrawal and depositing the money
  2. The customer service isn’t available 24/7
  3. Limited Range of Instruments

Now then, we have discussed almost everything regarding the topic “OctaFX Broker,” and it’s time to discuss Bonuses, Promotions, and Contests.