Octa Forex Broker Review and Rating 2024 Detailed Octa information with traders reviews for 17 June 2024

octafx broker reviews

I like how fast the deposit and withrawal process, it simplicity.But I think it will be great if you make a provision of internal transfer from octa user to other user, not just from account to wallet.Thank you. After putting utr no it takes some time to upload the payment proof. When I did this it shows error and transaction time passed telling payment is already made. But get a shy of relief when noticed that account is already credited.

Why Choose Octa for Commodities Trading?

octafx broker reviews

Should you have any further inquiries, please do not hesitate to reach us via live chat or email We are ready to assist you at any time.Kind regards,Octa Rep. Dear Uzma,Thank you for your positive feedback and for sharing your experience with our Octa Trading platform. We’re thrilled to hear that you find our platform to be excellent and trustworthy and that it’s the best trading platform for you. If you have any questions or need assistance, please don’t hesitate to reach out to us via live chat or email at We’re here to assist you anytime.Kind regards,Octa Rep. Dear Christopher,Thank you for sharing your positive feedback with us regarding the Octa Trading platform.

octafx broker reviews

Octa team has no effect for reviews r…

  1. We are greatly motivated to keep providing outstanding service and to keep getting better with your positive review.Stay updated on our latest news and promotions by joining our social media platforms.
  2. There are, however, minimum withdrawal limits for all payment methods, though these are minimal, including $5 for Skrill and Neteller.
  3. You also have full control over the copying process and you can stop following any master as well as close out live trades.
  4. The Octa MetaTrader 4 account, also called the Micro Account, is for new investors.

OctaFX has multiple contests, including a demo contest and an Archive contest. You can win up to a $1000 prize in the demo or Champion contest by efficiently trading with your demo account. The deposit and withdrawal for OctaFX are commission-free, and most of the payment options are instant, but some might take 30 mins to 1 hour. Trading in the Muslim community is considered haram, but swap-free trading accounts, which do not include interest charges, are considered legitimate. OCTA has also gone above and beyond with its education materials which include live webinars and carefully crafted courses.

Forbidden trading techniques

The choice of these accounts will determine the platform that you trade on and the fees that are applied. OctaFX offers 3 primary trading platforms which include MetaTrader 4, MetaTrader 5, and OctaTrader. With the custom option, you will be able to adjust your account type between a real account and a demo account.

Is my money safe with Octa?

This will help protect you from losing more money that you have in your account. In other words, the broker cannot use your money for the purposes of its own operations and if anything happens to the company, your funds would be safe. It also means that all withdrawals requests can be instantly met without any kind of liquidity crunch. Firms must comply with a number of rules on how they can advertise services to customers. Regulation is one of the most important factors to consider when looking at forex brokers.

OctaFX App 📱

octafx broker reviews

Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively. Overall, OctaFX can be summarized as a trustworthy and regulated Forex Broker with competitive trading fees. OctaFX offers an easy-to-use social copy trading platform with excellent customer support. Secondly, we have the Pro Account which uses the more advanced MT5 platform. This account offers lower spreads than the Micro Account as well as lower trading costs for higher volume traders.

What are OCTA trading hours?

If you’d like to trade stock market indices, pick from one of ten major global indices. These include the SP500, Nasdaq, French CAC40, and Australian SPI 200. Regarding account currency, if you join the OctaFX European subsidiary, you will use Euros. All other clients will be using USD as the account currency, so if you are https://forexbroker-listing.com/ in the UK and prefer GBP as your account currency, you cannot choose it. While the above module takes the spreads from the broker’s website, we at CompareForexBrokers have done our own testing using 20 MT4 brokers to find out their average spreads. You can read about our findings in our Standard Spreads test results.

This is because the swap has been replaced with a periodic administration fee meaning you receive a charge every certain number of days you hold your position open. We suspect this administration fee could still be a type of riba. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.

The Autochartist plugin for MetaTrader provides real-time trading signals to your terminal, shows chart patterns and trends online, and allows you to receive daily Market Reports via email. Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch. OCTA excels in research, offering regularly updated commentary written by in-house analysts and trading ideas.

octafx broker reviews

Accounts belonging to traders who reside within the European Union will be placed within this company and will see their accounts regulated by CySEC. CySEC offers much better legal protection, and your legal protection is, therefore, a lot stronger if you open an account with Octa Markets Cyprus Ltd. Traders benefit from a range of additional educational features and trading tools at OctaFX, including video tutorials and webinars, plus regular forex market insights and news. The brokerage also offers profit and margin calculators, as well as a forex signal service with the Autochartist plugin and live quotes.

However, OCTA states that it provides clients with segregated accounts and negative balance protection. A welcome addition would be third-party account insurance (such as a policy from Lloyds of London), as seen at some other popular offshore brokers. Overall, I rate OCTA as an innovative broker with a client-centric focus. Dear Darshana Mukesh Parikh,Thank you for taking the time to provide your feedback.

You also have full control over the copying process and you can stop following any master as well as close out live trades. It appears as if this is something of a trend at OctaFX as they have also been recognised by others in octafx broker reviews the industry. They have won the best customer service in Asia award by the Global Banking and Finance magazine. We wanted to see how accurate these stats were so we opened up the live chat option and got an immediate response.

The resource center provides video courses on Forex basics as well as articles targeted primarily at beginners. OctaFX also has an education section that is fully equipped with information about trading on the platform and the crypto market in general. Next, choose cryptocurrency, and pick a currency pair to begin cryptocurrency CFD trading. To begin trading cryptocurrency CFDs you need to launch your MetaTrader 4 or MetaTrader 5 account using the login details from OctaFX. After signing up you will need to check your email inbox to find the login and password to your trading account. OctaFX also protects users’ personal data and financial transactions.

Copy trading is a way to make trading more accessible by copying trade positions. Moreover, you do not need trading experience for copy trading, so even novice traders can participate without incurring losses and risks. OctaFX charges no commissions and additional/hidden fees, which makes the broker a safe space for traders, especially novice traders. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Leave a Reply

Your email address will not be published. Required fields are marked *