OctaFX

Forex Broker
316
Rating
2
Reviews
$100
Min. deposit
Trading Platforms
Regulation CySEC
Payment systems for withdrawal Bank Transfers, Debit/Credit Cards , Skrill, Neleller
Seminars and training
Daily analyst
Low initial deposit
Copy trades
Islamic accounts
Bonus for replenishment
Segregated accounts
ECN-accounts
Scalping
Affiliate program
Wide selection of trading instruments
Advantages
International broker regulated by CySEC+4
MT4, MT5 and cTrader trading platforms+2
No commissions for deposits and withdrawals+2
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Disadvantages
Limited Deposit and withdrawal options for European clients+2
Previously, only an offshore company worked+1
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OctaFX is a technology brokerage company operating since 2011 and offering industry-leading platforms such as MetaTrader 5 and cTrader with numerous investment opportunities.

At the beginning of its creation, OctaFX followed the path from an offshore brand located in Saint Vincent and the Grenadines, and later worked in the UK, but since 2017 it closed its office in London and moved to Cyprus.

OctaFX Business Model

OctaFX is an STP Forex broker that also adheres to high standards of safe trading. OctaFX is already well known, despite the fact that it recently received a European license.

OctaFX Regulation

The broker's main gap over the years was the fact that OctaFX was a brand of Octa Markets Incorporated, which is registered and regulated by the laws of Saint Vincent and the Grenadines. It is an offshore haven thanks to its tax breaks and the relative ease of starting a company. OctaFX has now established its legal entity in Cyprus and, accordingly, received a license from CySEC, which regulates in accordance with the European ESMA standards.

Thus, we can now state that OctaFX and its subsidiary Octa Markets Cyprus Ltd are demonstrating strict adherence to the required operating standards for us.

Leverage

The leverage of European traders is a maximum of 1:30 for major currency pairs and 1:10 for commodities. International traders can still use up to 1: 500 leverage.

OctaFX Trading Accounts

Broker OctaFX Review offers two types of accounts defining trading conditions and the platform used for trading:

OctaFX

  1. MICRO. This account is suitable for novice traders. Floating spread from 0.4 pips and fixed spread from 2 pips, leverage - up to 1: 500, trading platform - MetaTrader 4.
  2. PRO. This is an account for experienced traders. Floating spread from 0.2 pips, leverage - up to 1: 200, trading platform - MetaTrader 5.
  3. ECN. This is an account for professional traders. Floating spread from 0 pips, commission - $ 3 per lot, leverage - up to 1: 500, trading platform - cTrader.

Trading instruments

OctaFX offers you a wide range of trading instruments based on the CFD trading model and offering you the ability to speculate on the price movements of Forex, metals, energy and indices.

Minimum deposit

According to OctaFX policy, the minimum deposit is set at $ 100, which allows you to open any type of account.

Conclusions

Thus, OctaFX is a broker with a high-quality trading strategy, favorable trading conditions, popular platforms and a wide range of financial instruments. If earlier we had some concerns due to the fact that the OctaFX broker worked only through offshore, now the trust is at a good level, since OctaFX is regulated by the European organization CySEC in accordance with the MiFID directive.

Read also OctaFX reviews and share your impressions of this broker.

  • Year of foundation 2011
  • Head Office address 1, Agias Zonis and Thessalonikis Corner, Nicolaou Pentadromos Center, Block: B', Office: 201, 3026, Limassol, Cyprus
  • Maximum leverage 1:500
  • Min. deposit $100
  • Regulation CySEC
  • Trading Platforms
  • Payment systems for input Bank Transfers, Debit/Credit Cards , Skrill, Neleller
  • Payment systems for withdrawal Bank Transfers, Debit/Credit Cards , Skrill, Neleller
  • Number of trading instruments 28
  • Number of CFD instruments 9
  • Number of metals 2
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Neutral feedback from Default Admin User
OctaFX provides a solid trading platform with competitive spreads, which is great for various trading strategies. Execution speed is generally good. Customer support is helpful but can be slow at times. Withdrawals are mostly efficient, though occasionally there might be delays. Suitable for traders, but be mindful of potential service inconsistencies.
316
Rating
2
Reviews