Both platforms come in several languages, including English, Arabic and Hindi, and are compatible with Windows PCs. MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy and more advanced features. The MT4platform is a trusted software used by both individual traders and institutions, due to its ease of use and flexibility. The company’s headquarters are located in Saint Vincent and the Grenadines, with an additional support office in Jakarta, Indonesia. The broker’s EU entity, Octa Markets Cyprus Ltd, is located in Limassol, Cyprus, and is regulated by the CySEC.
On the other hand, its cTrader server is a hosted solution from Spotware. Regardless of which platform and account you are using, OctaFX claims that its order executions occur within 0.1 seconds. During our latency tests, we found the claims to come reasonably close to reality. Also, if you want to access your trading account with OctaFX on the go, you can always download Android or iOS apps and login to your account from anywhere. They have in-house experts that closely monitor Master Trader’s and make sure they’re not engaging in risky trading behavior or misleading copiers. Most notably, OctaFX was named the Best Forex Broker in Asia , meaning that they are the best Forex broker in India, Malaysia, Indonesia, Pakistan, and elsewhere! To top it off, the best Forex app belongs to OctaFX as well, claiming that award back in 2018 when European CEO Magazine bestowed upon them that honor.
OctaFX broker has only a few commodity assets, including gold, silver, and UK oil. You can sign up and login to the Copytrading account in a few easy steps. Once you login to your personal area, you can set up your Copytrading profile and make a deposit to your wallet. You can also sign in to your new account using the Android app. OctaFX is a legit company registered in Saint Vincent and the Grenadines. The EU entity is registered in Limassol, Cyprus and regulated by CySEC.
Though the company also is considered rather reliable, but to users will not be superfluous to study documents regulated by it at all. Traders often wonder if Octa FH is a scam or a serious platform for Forex trading? Due to these lower spreads, the currency pairs will face a reduction and help create a beneficial trading environment. The cherry on top remains no time limits on these lowered spreads.
If you want to open a live trading account right away, you will find that the sign in procedure is the same. You don’t have to pay commissions on withdrawals and deposits. The online broker executes 97.5% of https://traderevolution.net/ the trade orders without slippage. Despite this lack of regulatory oversight, OctaFX still does not offer trading services to U.S clients. OctaFX hosts its MetaTrader servers throughout Europe and Asia.
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The Trader’s Tools section features eleven sub-categories, which combine for quality service, especially for new retail traders. OctaFX traders who wish to trade all 45 assets must do so on the MT5. Islamic accounts are a cornerstone at OctaFX and are high in demand. The commission-free MT4 account lists a minimum spread of just 0.4 pips. With popularity of FX trading moving higher, the demand for the services of the dealing desks and brokerage companies grows subsequently.
Our broker review for OctaFX has been written by industry experts. To help you decide if they are right for you, we cover every brokerage aspect in detail. Our OctaFX Broker Review has found that they have followed the standard road map for a broker aiming to break into the market to some extents. Customer support for mobile trading is of a high level and can also be accessed 24/5 via a live chat function. Access to these resources is provided to both Demo and Live account holders.
Users enjoy multiple types of pending orders, several analytical objects, plus additional technical indicators that are unique to MT5. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated. Select one or more of these brokers to compare against OctaFX. OctaFX provides a range of research content under its Traders’ Tools section, including an economic calendar, market insights, and daily analysis posts, as well as trading signals from AutoChartist. OctaFX also produces video content such as its regular Market in a Minute post on YouTube alongside several archived webinars and some educational content.
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There are a maximum of 28 currency pairs, 3 cryptocurrencies, 10 indices, 4 metals, and 2 energy markets. Spreads are widest on the MT4 Micro account and there are also fewer instruments to trade through this account.
MetaTrader 4 was built specifically to trade Forex and CFDs, MetaTrader 5 on the other hand facilitates trading of Forex, Futures, Stocks, Swing Trading Algorithmic Trading, ETFs and Indices. Download the Metaquotes MetaTrader 4 Program for free of charge from Apple’s App Store.
What Leverage Does Octafx Offer?
OctaFX are able to accommodate various levels of traders whether you are experienced or a beginner. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.
- Here you can get a deeper look into the order flow and liquidity of the markets .
- Traders use several tools to gather information on what kind of analysis traders are using in this trade market.
- The spreads are starting from 0.4 pips and you have to pay a commission per trade.
- The cTrader is a good platform for professional traders who want to trade high volume with order flow.
- With ECN trading the conditions are better than with the MetaTrader accounts.
- Every professional forex broker must have a reliable trusted trading platform for trading.
Typically, the spread on a EUR/USD trade might be 1.1 pips, but if the same trade is made through the MT5 Pro account, this might drop to 0.9 pips. A good fit for beginners and seasoned traders alike it has a reputation for being easy to use and reliable. OctaFX delivers mobile app versions of the MT4, MT5, and cTrader platforms, available for iPhone and Android devices. The apps offer many of the essential features found in the desktop applications including a complete set of orders in MetaTrader and full balance, margin, and P&L information in cTrader. MT5 is the next-generation platform that offers all the benefits of its predecessor but with additional speed, accuracy, and more advanced features. It is a big upgrade to the legacy MT4 that people had used for generations.
IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go. If a market order is not fulfilled by your brokerage usually no commission is charged. An account inactivity fee is a fee charged to the registered brokerage client. Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools. OctaFX is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries OctaFX covers include the UK, Germany, Australia, South Africa, Thailand, and China.
The ‘Forex Basics’ section is particularly good for newer users and provides a breakdown of basic and more advanced trading strategies. It is clear that the education section is of great importance to OctaFX, and the material is of high quality and conveniently available in a wide range of formats. A wide variety of educational content Foreign exchange market is available for OctaFX users under the ‘Traders’ Tools’ sections. This includes an economic calendar, daily analysis posts, as well as trading signals and market insights. Video content is also provided via YouTube, with much of this content archived. This provides a great digital library of webinars that users can take advantage of.
Daytrading.com may receive compensation from the brands or services mentioned on this website. In general, the company is actively developing, doing everything to ensure that trading on its platform was comfortable and profitable for its customers. In general, this can be considered the answer to the question whether OctaFX is a scam. OctaFX can be called one of the few brokers who publishes data about their customers. For example, on the average at it 500 new customers daily are registered, profitable transactions are made, the turn – 4 billion dollars. The broker acts in full conformity with the international legislation and standard standards, has a number of serious licences, than also is interesting to the modern speculator. Knowledge of the rules of the user agreement will always be useful to any speculator and will protect him from possible problems of the platform, including financial losses.