Octafxis It A Scam? Review

December 18, 2020

You will even get the opportunity to get involved in the business with very little profit. Each of the countries you see here has the support to join the broker OctaFX. This company is a very large trading platform so you can safely place your deposits or assets here. Trade market clients think about broker protection before investing. The broker provides customers with maximum protection from investing. OctaFX eliminates fears by traders by applying the best tools to ensure additional funding. There is no reason to worry, the broker automatically shuts off your positions as soon as it is detected.

OctaFX Broker Review

Also, OctaFX helps to guess the speculation about their increasing rate. You may know that there is no guarantee of making money in online FX trading. So we think it is very important to move towards the trading platform with your prudence, practical humanity, and knowledge. To be successful in online trading you need to go through many steps like practice, time, patience, and much more.

Octafx Risk Statement

Traders can use our free service but make their own decisions when choosing an online trading broker suited to their individual needs. 73.57% of retail investor accounts lose money when trading CFDs with this provider. CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

All the platforms come with multiple order types, support manual/automated trading, feature several cutting-edge trading tools, and are accessible across all computers and mobile devices. International anti-money laundering legislation requires each global Forex broker to follow certain rules before any withdrawal request can be approved by them. The minimum withdrawal limits here are the same as the deposit limits, except for payments through banks and Neteller, which are $5 and $4 respectively. Transactions Skrill, Perfect Money, PayWeb, Neteller и WebMoney are instant. OctaFX uses segregated accounts to protect customers’ funds, which ensures that capital is kept in the bank account, which is separated from the main brokerage operations. It means that the company cannot use means of the customer for its own business.

  • OctaFX maintains a highly competitive cost structure with a commission-free EUR/USD spread of just 0.4 pips.
  • BrokerAdvantages FXTM a regulated forex broker , offering ECN trading on MT4 an MT5 platforms.
  • It offers true ECN accounts via cTrader, which requires brokers to connect at least one major and reputable liquidity provider to the platform.
  • Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
  • The broker supports social trading via OctaFX Copytrading and Autochartist Pro supports manual traders.
  • OctaFX has a very unique value proposition for Forex traders.

The number of customers of this company is increasing day by day. If you search for it in online brokers, you will first see the name of the OctaFX. It also controls everything through the provision of powerful software and allows customers to access the account through the mobile app. If you want to gain a transparent trading experience, create an account with OctaFX Broker. You can get something great, from the offers of this company.

OctaFX has built a solid reputation in the forex/CFD trading space. Robo and copy trading, in particular, are both areas where they appear to be aiming to gain an advantage over the rest of the market. The main differences between the accounts are the assets available to trade, the spreads, and the minimum deposit amounts. All trading apps come with a customizable mobile interface with clean and accurate trading functions, as well as custom mobile price alerts. OctaFX also offers a proprietary copy trading mobile app, currently available only on Android devices. It is also only available for traders residing outside of the EU.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Traders may choose between the MT4, MT5, and cTrader trading platforms, but the asset selection of just 45 remains a distinct weak spot.

Octafx Leverage And Spreads

The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. OctaFX provides a section on its site dedicated to forex education, which contains 19 primary articles. However, there are mostly platform tutorials and user manuals in terms of both materials and video content. Beyond the trading glossary and dozens of Frequently Asked Questions , there isn’t much educational content in terms of understanding market dynamics and how to trade. It’s worth mentioning the broker does have a blog and YouTube channel, yet I was still left wanting more.

OctaFX Broker Review

No additional costs exist, making OctaFX one of the least costly brokers to trade with, fulfilling its mission statement of creating a low-cost broker for new traders and professionals alike. I can tell you 100% if you follow the very clear format of Octa fx there is absolutely “No problem” with this broker. l trade there account every week, and l trade successfully and they are awesome for instant funding and withdrawals. I follow there trading numbers daily and they are a very accurate. I would like too deposit 1M very soon that is the faith l have with this broker, they are extremely transparent.

Because of regulations, the broker has entities covering different jurisdictions. Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed.

Traders Reviews

There is also the ability to provide free market data and news. forex analytics OctaFX is one of the best international Forex and CFD broker.

OctaFX Broker Review

You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. 79% of retail investor accounts lose money when trading CFDs with this provider. A percentage of retail investor accounts lose money when trading CFDs with this provider. OctaFX Copytrading offers an opportunity to automatically copy leading traders, if you do not have the time to build your own trading strategy. With OctaFX Copytrading you can choose from the best Masters of Forex and diversify your trading portfolio. The leverage available at OctaFX depends on whether you trade with their European subsidiary or with the international one. Because of the strict leverage restrictions imposed by the European Securities and Markets Authority back in 2018, the leverage levels in Europe are much lower.

Platforms & Tools

The market-favorite MT4, with over 20,000 third-party customized technical indicators and electronic advisors , many free of charge, remains the most flexible version. MT4 maintains its leadership position for automated trading, the fastest-growing sector of the financial system. Traders must invest in necessary upgrades to unlock the complete functionality of MT4 and transform it into a competitive, cutting-edge version. OctaFX also offers the MT5 trading platform, which remains the only one where all assets are available for trading. The best out-of-the-box alternative is cTrader, designed for trading via the electronic communications network . OctaFX does not levy charges for deposits, withdrawals, and currency conversions.

OctaFX Broker Review

What we also admit is high-tech access to a range of the instrument and multiple platforms either for manual, algorithmic or social trading. It is definitely a great advantage that OctaFX offers both industry popular MetaTrader platform and powerful cTrader which is highly regarded by the professional traders. The mobile app is also offered for both platforms, while apps https://traderevolution.net/ are simple to use and offer a wide range of tools at the same time. MT5 mobile offers various charting capabilities also customization which is fantastic for mobile trading along with full management of your account. In addition, there is a security of the traders’ accounts applied by the Investor Protection and Compensation Schemes in case the broker goes bankrupt.

Honest Octafx Review And Test For Traders

MT4/5 and cTrader is one of the top software on the Android platform on mobile. It has been designed by OctaFX Markets for traders in a way that is easily accessible on mobile. OctaFX clients allow them to access trading on any Android device. Being mobile-friendly, it offers many benefits to clients or merchants. OctaFX customers may not be able to place orders using mobile devices, where they will be able to perform basic technical analysis on the full chart. Customers will be able to do Candlestick, Line Chart, Bar Chart, Tick Chart using Excel on mobile. MetaTrader 5 is one of the most popular trades on one of the most popular platforms in the world.

Forex trading carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments, due to leverage retail accounts AAFX Forex Broker Review lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.

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