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As you would most likely have guessed, this is the latest mobile phone for forex trading generation trading software that has been developed by Met"s. Moreover, given that they are using the STP technology, their execution is well known in the industry and they have some of the lowest rates of slippage on the market. Reviewed by Steven Hatzakis Steven Hatzakis is the Global Director of Research for. These accounts are 100 Shariah compliant and you will pay no interest on your overnight positions. Having said that, they should be on the top of your list.
Leverage Protections at OctaFX Having said that though, OctaFX does offer their traders negative balance protection. The broker also produces video content such as its Market in a Minute daily post on, and provides a few archived webinars and educational content. It is also interesting to note that this broker is of the handful of brokers in the industry that is willing to be transparent with its trading volume data. The firm is always conducting a contest or a new promotion for the benefit of its clients. You can take a look at the leaderboard of all of these master traders and examine their trading history. These are likely to give you the most tools and functionality. They have won the best customer service in Asia award by the Global Banking and Finance magazine. They include the MetaTrader 4, the MetaTrader 5 and the cTrader. This fund will protect all of those accounts that have over octa forex review 20,000 in them in the event that a broker is to under.
You are also likely to incur some other trading fees based on the account that you have. This is one of the most important questions for any trader. Regulation, as mentioned above, OctaFX has a subsidiary entity that is based in Cyprus. They have developed a competitive broker with global reach, low spreads and great technology. It also means that the broker can easily meet all client withdrawal requests the moment that they are instituted without any sort of liquidity crunch.
Firstly, they have their own proprietary app that can be used for account management. CTrader This is the platform that will give you the STP access with some of the lowest spreads on the market. Compared to its other account types, the cTrader ECN account at OctaFX is more limited in product range with only 28 forex pairs and two metals, and uses a 6 per round-turn standard lot (3 per side) commission-based fee. Features, why trade with m? Company registration: Octa, markets Inc.(reg. Forex Basics These are some introductory articles to Forex trading that are well positioned at the beginner / intermediate level. Some of the CFD assets to trade at OctaFX Moreover, on the crypto side they only have three cryptocurrency pairs being Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH). Moreover, given that they have shown a willingness to take constructive criticism, we could possibly see these suggestions implemented. Octa, markets Ltd and their offices are at suite 305, Griffith Corporate Centre, Kingston. The list of traders to copy If you want octa forex review to start copying traders on the platfom then you will first need to create a live account. OctaFx also launched cTrader and the related suite of retail trading platforms from Spotware Systems, including the cAlgo platform. CTrader on different devices What use is advanced technical analysis without the ability to customise orders? If you are going to be making a local bank payment then there are three options at your disposal.
You also have one-click trading on the MT5 platform which is not available on MT4. OctaFX, review, octaFX is a leading CFDs and FX broker that was established in octa forex review 2011. OctaFX is a well established CFD and. 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. A typical withdrawal request will be processed immediately with a confirming email following, as long as personal ID information is on file and in order. Comparably, spreads are highest in the MT4 Micro account where the broker offers only 37 tradeable instruments; the EUR/USD typical spread is listed.1 pips, whereas the MT5 Pro account provides the full range of tradeable products, and spreads drop slightly.9 pips. They also won the best broker in central Asia and Central / Eastern Europe from the World Finance Magazine 2014: They won the best ECN broker in Asia from the Global Banking and Finance as well as the. The firm lists these reasons: Founded in 2011 and headquartered in Saint Vincent and the Grenadines; Regulated by CySEC. They also offer a cTrader series of platforms that supports additional capabilities not found in MT4 modules.
This has contributed to their 96 customer satisfaction level. Benefits of the Octa Demo Account Something else that we found quite exciting about the demo platforms at OctaFX is that they have a range of trading competitions. In terms of regulatory oversight, OctaFX is regulated by two different regulatory bodies. These include things such as market depth charts as well as an economic calendar right there on the platform. Take note that the withdrawal will be returned through the same method that funding came. These awards are all verifiable and you can see their listing on the respective websites. If ever you have any complaints about the broker then CySEC has a self reporting portal. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more. Image via Met"s However, there are a range of different features that are have been packed into the MT5 platform. While MT4 and MT5 come standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas. You also have full control over the copying process and you can stop following any master as well as close out live trades. Octa, markets Incorporated, a company registered on the islands of Saint Vincent and the Grenadines.
For example, it comes with level 2"s as well as access to the FIX API. These include both on the PC version as well as the mobile apps. Yes, they have the major Forex pairs but they have virtually no emerging markets. They also have no stocks, only two commodity assets and only two cryptocurrencies. Their Islamic account is available on all of their trading accounts that they have listed octa forex review above. Nevertheless, with the Asian markets as its primary focus, OctaFX operates out of Jakarta Indonesia and serves clients from more than 100 different countries around the world. Over 80 of all the reviews in the Google play store are 5-star reviews. This will allow you to create the trading accounts, fund said accounts as well as modify leverage and other trading parameters. Is OctaFX a scam?
Forex Risk Disclaimer "There is a very high degree of risk involved in trading securities. All these awards signify the conditions which traders can expect from dealing with OctaFX. To open an account with OctaFX, you are required to fill up the registration form and submit all the necessary documentation. 2015: They won the best STP broker by the FX Report magazine as well as the European CEO Magazine. Home Forex, brokers OctaFX, octaFX Reviews, rate and review this broker below, broker information. Access is similar to MT4, including Apple compatibility, but there are a few additional bells and whistles that make it worth your wile to test out on their free demo system. How do I deposit in OctaFX account? Platforms Tools, octaFX is primarily a MetaTrader broker, offering the suite of platforms from Met"s Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). This means that they will fall under the jurisdiction of this authority. Both these regulatory bodies help to ensure that OctaFX is in compliance with international regulatory requirements. Finally, there are some regions like the USA that OctaFX cannot accept clients from.
Although the prospect of trading with free money sounds great, bonuses are an incentive for you to trade aggressively to meet your targets which could erode your profit. In addition, OctaFX operates in compliance with international standards and is regulated by the FCA. Assets covered by OctaFX include currency pairs, cryptocurrencies, precious metals, market indices, stocks, and commodities. You can read more about these competitions on their demo page. This could be a fee or a rebate as it is tied to interest rate differentials outside of the control of OctaFX. Looking at the fiat side deposits, you can pay in either EUR or USD. As mentioned, Met"s develops a mobile application for both the MT5 platform as well as the MT4. These include restrictions on bonuses etc. For traders in Malaysia and Indonesia, local deposits are also available. Overview, jump to, octaFX was established in 2011 and they are based in St Vincent The Grenadines. These include such concepts as Technical and Fundamental Analysis, charting and indicators. If you deposit at least 50 then they will give you half of the initial deposit as bonus funds. Promotional programs and contests abound on an ever-changing calendar to spark interest.
It allows for fast execution of trades as well as transparency in pricing. Conclusion Although OctaFX is relatively new in the industry, the fact that it has won so many awards shows that the broker octa forex review is well liked by traders. If you have an ECN account then you wont be paying either a swap or an overnight fee. Bonus Promotions For promotions, OctaFX offers a deposit bonus of up to 50 on all deposits for all verified account holders. Spreads Fees When trading at a broker with leverage, one of the most important factors to consider is the asset spreads as well as any other fees that may apply. CTrader also makes an app for both iOS and Android.
Videos There are some simple videos that are provided in the education section that will help you to set up your MT4 account. The forex market is basically a decentralized market, while stocks and commodities are traded on exchanges. Islamic Account OctaFX is also known for offering one of the best Islamic accounts in the industry. Then, on top of this you have all of the third-party apps. Mobile Trading, octaFX offers mobile trading iOS and Android mobile trading applications for Metatrader and cTrader platforms, available directly from the respective developers on the iTunes store and Google Play. Research, 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. What is OctaFX leverage? Funds deposited through these methods are accessible immediately. They are also one of the few brokers willing to share volume data online. OctaFX Deposits and Withdrawals 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.
This is because the MT5 uses an object orientated language called MQL5. These are usually packaged with most brokers and provide the client with a pre-installed VPS with a discount code at a hosting service. It is a robust trading platform offering numerous trading tools to enhance the trading abilities of its users. OctaFX also acts in full compliance with international legislation and regulatory standards, in addition to local oversight. If this is the case and you hit the withdrawal, it will octa forex review be processed in 1-3 hours. Acquiring a license in an emerging or major jurisdiction would help win customers trust, as the island nation. We would encourage you to do your own research and make sure that they are right for your individual preferences. Around the time of our review, OctaFX launched a mobile administrative app (non-trading) for customers to be able to access back-office account features such as those found in its web portal. A brief summary of what youll get with OctaFX Copytrading: Huge return rate: more than 20 monthly gain No advanced knowledge required the best traders work for you No restrictions on the minimum deposit you can start earning.
Other domestic payment methods are also supported with new ones being added monthly. Perhaps these bonuses are only available to their traders in other jurisdictions. If you would prefer to speak to someone on the phone then you can reach them on one of their numbers below: United Kingdom: Hong Kong: Indonesia: WhatsApp (Texts only) OctaFX also provides a FAQ section where. CTrader is also quite a sophisticated platform and comes with a host of features. For example, on the Champion demo the first prize is 1,000 credited to your account. Like with the MT4 platform, you can trade the MT5 on a PC, on a Mac as well as through a mobile app on an iOS or Android device. Of course, it will also give you an opportunity to earn passive income from the spreads and rev share.
The standard PC based MT5 Platform. Prizes up for grabs range from 25 to 500. Customer Support Agent Competencies We wanted to see how accurate these stats were so we opened up the live chat option and got an immediate response. No, OctaFX is not a scam. As you know, CFDs are very risky products.
The amount of leverage that you can take out on each trade depends on the account that you have created as well as the asset that you are trading. This is run on the MT4 platform and it has the lowest minimum deposit amount at only 100. When trying to choose from the plethora of available forex brokers, the prudent path is to review regulatory compliance and to note any significant awards or favorable reviews that your prospective firm octa forex review has earned. In essence, the MT5 allows for better integration with a centralized exchange. Invest money, choose your desired income rate, estimate tolerable risks, and thats itsit back and watch your balance grow. The company also supplies market news, research, and a convenient economic calendar. You have extensive back-testing capability with this suite of programming tools. The cTrader competition is for a weekly draw of the 400 prize pool.
Starting with the entry octa forex review level, you have the Micro account. However, if you are based in Indonesia then you can use their local banking institutions (Mandiri, BCA, BNI and BRI). This essentially keeps the funds in a bank account that is seperate from that of the main broker operations. You can top up your demo funds on request while you refine your trading strategies or test your trading bots. We were also quite disappointed to see that although they did offer EAs, there were no VPS promotions. The platform also has a much more functional trading interface which allows for a high degree of customisation. We will also give you some top tips in order to make the most of your experience on their platforms. Then you have the Pro account which uses the slightly more advanced MT5 platform. This will help ease the fear of traders as it means that they will never lose more than they have deposited into their accounts.
MT4 Micro Account For beginner traders Commission-free trading Fixed and Floating spreads Maximum leverage of 1:500 Minimum deposit requirement of 100 MT 5 Pro Account For experienced traders Floating spreads Market execution Commission-free trading Maximum leverage of 1:200 Minimum deposit. In addition, OctaFX since 2015 is also under the octa forex review jurisdiction of the FCA. Spreads and Leverage, as a non-dealing desk STP/ECN broker, OctaFX can guarantee very tight spreads from.2 pips, no slippage, and no re"s. Vincent and The Grenadines, and offers the MetaTrader and cTrader platforms. Here at m, we maintain the largest independent regulatory database available on the web. Segregated Accounts, something else that OctaFX does that helps protect clients is their use of segregated funds. For trading platforms, OctaFX offers a choice of 3 different types of trading platforms. To access the support service, you can reach out to the support team through email, live chat, telephone and inquiry form.
User Interface of OctaFX MT4 Web Platform Moreover, you can code your own trading algorithms and bots on the MT4 platform. For those who are in the market for a reliable and efficient forex broker, OctaFX certainly comes highly recommended. So, how does OctaFX stack up? Orders are also processed much more quickly without any order queues. If you are going to be away from your desk and you need to monitor your positions then these are probably your best alternative. OctaFX makes its money by charging its traders a small commission or spreads on the trades executed on its trading platforms. Want to become a master?
Pros Cons Pros Regulated by FCA Low minimum deposit requirement ECN Trading available Low spreads Responsive customer support Cons Limited payment options OctaFX Q A Is OctaFX regulated? Awards It is always good to see when a broker is well regarded not just by their clients but also by fellow industry members. However, delving into the assets themselves shows the coverage to be rather lacking. The broker provides 28 forex pairs, three cryptocurrency CFDs, and CFDs on four metals, two energies, and 10 indices, for a total of 47 instruments. OctaFX offers two different octa forex review trading platforms for your use, each allowing for unlimited access from your desktop, laptop, or mobile device. This is charged every third rollover, that is, every third night at Midnight. This offers slightly lower spreads than the Micro account and will have less trading costs for higher volume. If you are on the MT5 Pro account then you wont pay a swap fee but you will have to incur what they call their Three Days Fee. You also do not have to follow only one master and you can diversify this list in order to benefit from more than one trading strategy. Although they are a global broker that is able to accept clients from over 100 countries, the bulk of their traders come from Asia.
They also won an the Best ECN Forex broker in 2017 by the UK Forex awards. The company was incorporated in the islands of St Vincent and the Grenadines. Octa, markets Cyprus Ltd. Advertising Rules: There are a number of restrictions on how these firms can advertise their services. Unfortunately, forex fraud and scams are common in the industry. From the standpoint of awards, OctaFX has been exemplary. 2012: They were awarded as the fastest growing Micro Forex broker in 2012 by the Global Banking and Finance review. International anti-money laundering legislation requires that every global forex broker follow specific rules before any withdrawal request can be approved. In the case of a credit card funding, you will be refunded the initial deposit amount. CTrader allows you to set Scale-Out and Stop-losses at a number of levels. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score.