OctaFX Review

Details

Broker	OctaFX
Website URL	www.octafx.com
Founded	2011
Support Number	+ 17844574224
Support Types	Phone, fax, live chat and email: [email protected]
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	50% bonus on each deposit
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
Fee Info	OctaFX does not charge any hidden commissions or fees
Commissions
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
Mobile Trading
Tablet Trading
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 [email protected]

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 Team</strong

A security team of software engineers are employed by OctaFX 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.

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

There is no review.