OctaFX Review

OctaFX
$8 no deposit bonus
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Overview

OctaFX review OctaFX, one of the fastest micro brokers of 2012 is doing it’s utter best to become one of the world’s better brokers. At this moment OctaFX is one… more

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0/5

Details

Broker OctaFX
Website URL www.octafx.com
Founded 2011
Support Number + 17844574224
Support Types Phone, fax, live chat and email: support@octafx.com
Languages English, French, German, Italian, Spanish, Dutch
Trading Platform Meta Trader 4 for PC, Meta Trader 4 for iOS, Meta Trader 4 for Android
Minimum 1st Deposit $5
Minimum Account Size $5
Minimum Trade Amount $0.10
Maximum Trade Amount $5000
Bonus $8 no deposit bonus
Payout Within 48 hours
Leverage 1:1 up to 1:500
Spread low competitive spreads from 0.2 pips per trade
Free Demo Account Open Demo
Fees Yes
Fee Info OctaFX does not charge any hidden commissions or fees
Commissions Yes
Commission Info OctaFX does not charge any hidden commissions or fees
Account Types demo, micro account, ECN/STP account
Deposit Methods Wire transfer, instant bank transfer, VISA/Mastercard, Neteller, Skrill/Moneybookers, UnionPay, Fasapay, CashU, local Indonesian wire transfer
Withdrawal Methods Wire transfer, instant bank transfer, VISA/Mastercard, Neteller, Skrill/Moneybookers, UnionPay, Fasapay, CashU, local Indonesian wire transfer
Trading Methods Web based trading, mobile trading, One-click execution, Guaranteed fills, Guaranteed limit orders, Guaranteed stop löss, trailing stop, hedging, scalping
Number of Assets 5000+
Types of Assets Trade more than 5.000 different financial assets using OctaFX including forex, stocks, commodities, indices and futures
Trading Currency You can trade all major and minor forex pairs on OctaFX including exotic ones like USD/RUB and USD/ZAR
Account Currency You can fund your OctaFX trading account with any currency which shall be converted to the selected currency under the 'my account' tab.
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 8.4

Full Review

OctaFX review

OctaFX, one of the fastest micro brokers of 2012 is doing it’s utter best to become one of the world’s better brokers. At this moment OctaFX is one of the better ECN/STP brokers available online and per smartphone and tablet. At OctaFX customers are appreciated and we can notice this by the high level of customer service. ‘’Perfectionism at it’s best, acting professional and being goal orientated, are the three aspects that differ OctaFX from other brokers’’, according to CEO of mother company Octa Markets Incorporated.

OctaFX trading platform

OctaFX uses the industry standard trading platform: Meta trader 4. This platform is not only easy to use and fully customizable, it also provides technical tools to analyse the markets. Smartphone and tablet trading on OctaFX also uses Meta Trader 4. All the features you would normally only have on your PC are also featured on the mobile and tablet version.

OctaFX trading accounts

Whilst there is only a single trading platform on OctaFX, there are two different accounts available on OctaFX apart from the demo account: Micro Account and ECN Account.

Micro Account

– 12 Forex pairs and gold and silver
– 5 Digits behind comma quotes
– Expert Advisors and scalping allowed
– Leverage up to 1:500
– Margin Call level is set to 25%
– Stop out level is set to 15%
– Minimum first deposit required just $5

ECN Account

– 28 Forex pairs and gold and silver
– 5 Digits behind comma quotes
– Expert Advisors and scalping allowed
– Leverage up to 1:500
– Margin Call level is set to 25%
– Stop out level is set to 15%
– Minimum first deposit required just $50

OctaFX commissions and fees

The commissions and fees OctaFX charges her customers are based on spread and starts as low and competitive as 0.2 pips per trade.

OctaFX customer service

The OctaFX customer service is well respected and 24/5 available by phone, email and live chat. OctaFX customer service phone number is: +17844574224. Because most OctaFX clients are from China and South-East Asia expect an accent on the phone. Emails can be sent to support@octafx.com.

OctaFX reliability

OctaFX tries to be as reliable as possible by implementing the following features:

Segregated accounts

OctaFX segregates it’s client accounts funds from it’s company balance. This way client funds are always safe in the case of an unexpected foreclosure.

SSL Data Encryption

Personal data fill ins and all transactions are conducted in a SSL Data Encryption secured environment and the chance of hacking and abusing of personal info is heavily reduced.

Account verification control

Each trader that wants to open a new real money account with OctaFX is required to send a digital copy of his or her passport or ID. It’s possible to just take a photo of it with your smartphone and tablet.

Secured withdrawal requests

All withdrawal requests have to be confirmed by email so no third party could secretly or illegally withdraw your account balance.

Security TeamOctaFX to make sure everything is safe and secure.

OctaFX pros

OctaFX has many pros, for instance:

– Regular bonuses and promotions
– Unlimited demo account
– Fast, reliable order execution
– Free market analysis
– High quality customer support
– Very low minimum required deposit of just $5
– ECN trading available
– Safe and secure trading platform on PC, smartphone and tablet
– Real ECN/STP services

OctaFX review conclusion

My conclusion is that OctaFX is a perfect (micro) broker to trade stocks, CFD’s, forex and commodities. The extremely low minimum deposit required of just $5 make this an ideal broker to practice online trading with. At the moment new registrations receive $8 no deposit required welcome bonus to try the OctaFX trading platform out.

✓ Low minimum deposit of just $5

✓ Invest from as low as $0.10 per trade

✓ Trade forex on OctaFX’s MetaTrader4 integrated platform

✓ Free no deposit required welcome bonus of $8 upon registration

✓ Reliable and regulated ECN/STP broker

✓ MetaTrader 4 trading available on smartphone and tablet app

Register for free and claim $8 welcome bonus

Pros

  • Low minimum deposit required of just $5
  • Low minimum investment per trade of just $0.10
  • True ECN/STP service
  • Possible to use MetaTrader 4 on smartphone and tablet using the OctaFX app

Reviews

  • User experience:

    2.29
  • Platform:

    1.57
  • Reliability:

    2
  • Customer Service:

    2.57
  • Payouts:

    2.29
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User experience

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Platform

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Reliability

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Customer Service

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Payouts

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Overall Rating

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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