With CFDs, OctaFX traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset. With Autochartist, OctaFX traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save OctaFX users time and makes the trading process more efficient. You can start using the MetaTrader 4 platform with OctaFX in multiple formats including through an online web platform,Through a downloadable application for Windows PCs and Apple Macintosh computers.
OctaFX Mobile Platform
As one would expect from any large Forex broker, there are a range of funding options at OctaFX both on the fiat money side as well as in crypto. CTrader allows you to set Scale-Out and Stop-losses at a number of levels. You also have a host of risk management features that allow you to diversify exposure across a range of different asset classes. The platform also has a much more functional trading interface which allows for a high degree of customisation. For example, you have up to 28 chart timeframes and you can create and save these chart templates.
Always have great experiences with this…
And so I realized that the case must be the same for my readers too, and so this section via this OctaFX review is to discuss the level of customer service and support offered by OctaFX. The OctaFX MT5 pro account is one which they recommend for the more experienced traders. With that said, the minimum deposit here is still low enough for all types of trader to get involved. This is $50 minimum deposit within the EU with the account being available worldwide. Traders benefit from a range of additional educational features and trading tools at OctaFX, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the Autochartist plugin and live quotes.
Spreads/Commission in Forex
Be mindful of these charges, impacting your overall OctaFX trading profitability. To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.
Does OctaFX offer a demo account?
Overall, the spreads at Octa are considered quite low & there is no extra commission charged. South African traders signing up with Octa are registered under FSCA regulation. But since they are not approved ODP, this makes them moderate risk broker for SA traders.
For both account types offered by OctaFX, spreads are floating and start from a minimum of 0.8 pips and have an average of 0.9 pips for the EUR/USD currency pair. This means the trading spreads will get either tighter or wider, depending on market volatility, time of day, and other factors. OctaFX is a good ECN DMA broker choice and great for scalping, hedging, and autotrading. A low spread andminimum depositas well as its own copy trading service make it perfect for many.
To do this, we take the average spreads brokers publish on their website and compare them with the spreads OctaFX public on their website. Bitcoin is also available as another way with fast execution time. They set rules and standards for foreign exchange brokers, IBs, and signal sellers to ensure fair and ethical business behaviour. Generally, regulation is the most important and critical point within a forex broker and so it’ll be our first point to discuss within this review. If you are going to be trading with them, make sure that you practice appropriate risk management.
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. The fees at Octa are moderate in comparison with other Forex brokers. Octa has spreads only accounts for traders (no commission based accounts for FX traders). These are variable depending on the trading account you choose with them. OctaFX offers two types of trading accounts with both being the same except one is with the MetaTrader 4 (MT4) trading platform and the other is with the MetaTrader 5 trading platform (MT5).
OctaFX allows you to trade on one of three different trading platforms. MetaTrader 4 (MT4), MetaTrader 5 (MT5), and OctaTrader, an in-house white-label program. But, it must be said that depositing funds and holding your capital with OctaFX is definitely a higher risk than trading with other, more regulated brokers. The broker is regulated by Cyprus’ CySEC (Cyprus Securities octafx broker reviews and Exchange Commission), which means it can offer trading services to all clients in the EU. CySEC must comply with the same requirement set by ESMA (the financial body for the EU) that all financial regulators within the EU borders must follow. The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia.
In this 2024 broker review, our experts log in to the personal area and uncover the key features, including leverage, demo accounts, regulation and more. Please note that the answer to this question might depend on where you live. Brokerage firms like OctaFX may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the OctaFX trading account level held by the trader.
These accounts are 100% Shariah compliant and you will pay no interest on your overnight positions. Moreover, you are allowed to hedge your positions, use scalping techniques as well as code your own Expert Advisors (EAs) on all of these trading accounts. It is also important to point out that all of these accounts have a minimum lot size of 0.01 with no cap on the maximum size of lots that you wish to trade. You are also likely to incur some other trading fees based on the account that you have.
OctaFX allows traders to trade on mobile devicesthrough Android and iOS devices like the iPhone. It’s recommended that you check the OctaFX website before signing up. If you decide to close your OctaFX account, it’s important to do so with the OctaFX broker customer support and obtain confirmation that no remaining OctaFX fees are due.
Moreover, there is much more functionality when it comes to coding your EAs. This is because the MT5 uses an object orientated language called MQL5. You also https://forexbroker-listing.com/ have one-click trading on the MT5 platform which is not available on MT4. Moreover, you can code your own trading algorithms and bots on the MT4 platform.
We’re also glad to know that you appreciate the ability to work with different assets.At Octa, we continuously strive to enhance our brokerage services by introducing various promotions, offers, and bonus packages. Should you have any further inquiries or require assistance, please don’t hesitate to contact us via live chat or by emailing Our team is always available to help.Kind regards,Octa Rep. Octa follows strict rules set by CySec, ensuring user funds are safe with high-grade encryption. Octa puts user experience first, offering negative balance protection to all.
They serve as a powerful motivator for us to keep improving our clients’ experiences on our platforms. Modern brokers like OctaFX provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, OctaFX may charge clients various fees for trading activities.
The globally recognized trading platforms like MetaTrader 5 and MetaTrader 4 are offered by Octa for trading through Web – Windows and Mac and Windows Desktop. If you consider their GBP/USD spreads for example, it is on average 1.1 pips with MT4 & MT5 accounts. Comparably, this is moderately higher than the overall fees charged by Raw spread brokers (we calculated spreads + commission). There are no commissions charged by Octa, and there is zero Swap (you don’t pay it nor do you get paid any positive swap).
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk. As part of our OctaFX review, we review customer service options, response times and problem resolution effectiveness on the OctaFX trading platform. The OctaFX trading platform supports a limited number of languages which includes English. Trading CFD trades on the OctaFX platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
- Withdrawal processing time can be up to 3 hours, depending on the method chosen.
- Should you have any further inquiries or require assistance, please don’t hesitate to contact us via live chat or by emailing Our team is available to assist you at any time.Kind regards,Octa Rep.
- Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
When we used OctaFX’s trading terminals, the new order process was similar and relatively straightforward. To start trading, you need to create a Trading Account in your Personal Area. The Octa MetaTrader 4 account, also called the Micro Account, is for new investors.
