All online trading activities are regulated by government financial authorities, so trades play a very important role. The license used in trading helps to build a confidential relationship with the customer and build a strong foundation. Every broker has to meet certain rules and criteria to get this government license. If a broker violates the rules or attempts to commit fraud, the license will be permanently revoked. Furthermore, the well-received mobile application provides traders with a convenient way to monitor their investments away from a trading terminal.
Lastly, we must remember XTB as another alternative, best if you are looking for a broker which has been on the market for close to twenty years now. The company has offices in more than 13 countries, including UK, Germany, France, and Chile. This makes XTB one of the safest brokers in the world, so you can’t go wrong with them. With OctaFX, you always have control over your portfolio and the copied trades. Just deposit money into your account, pick a successful trader, and start an invention.
Copy Trading (Social Trading)
- Octa has made great strides with innovation in its web platform, and new educational content, but offers a limited range of tradeable instruments compared to the best multi-asset brokers.
- You can access strategies to follow through the community forums and program your own with MQL5 and C# fully supported.
- For example, OCTA clients in the European Union benefit from the oversight of the Cyprus Securities and Exchange Commission (CySEC).
In this case, the network charges 1 USDT, and Octa does not impose any additional fees. While there is no minimum deposit from the virtual wallet, Octa advises that the minimum deposit using this method is 50 USDT. The network charged a fee of 1 USDT, and the remaining amount was credited to our account in USD within minutes. For those familiar with cryptocurrency wallets, this process is very simple and quick. Octa does not charge fees for deposits or withdrawals, nor does it impose commissions on trades.
Non-Trading Fees
Until recently, the broker had also been regulated by the FCA, however OctaFX decided to voluntarily suspend their regulation here due to Brexit until the future situation of the UK becomes clearer. When it comes to regulations, OctaFX is regulated by CySEC under #372/18, and by the regulatory body of Saint Vincent and the Grenadines under #19776. Due to that, we highly recommend OctaFX as a great place to copy trade but caution you to remember that due to a limited number of assets, your portfolios can be less diversified. This can result in comparatively bigger movements than a well-diversified holding so is something to keep in mind. For those reasons, our team here at Investingoal is happy to recommend OctaFX as a top choice for scalping.
Mobile trading apps
You will also find fixed spreads available on the MT4 Micro account that start from 2 pips. The OCTA website features a robust economic calendar, including the time, date, country, actual figure, forecast figure, previous figure, and anticipated market impact of a given economic release. Robust charting is provided by TradingView, featuring 11 time frames, 11 chart types, and over 100 technical indicators.
CTrader has a desktop version, and is also available in apps for android and iOS. In their review, they claim their European entity being largely unregulated is a red flag. According to a member on Reddit, OctaFX occupies the security commission’s list of platforms to avoid. However, some users have appraised the company, claiming they had good trading experience and fast withdrawal. The broker claims to offer competitive spreads as compared to other forex brokers.
OCTA Main Features
OctaFX offers a wide range of payment methods for deposits and withdrawals. These include bank transfers, credit/debit cards, and popular e-wallets like Neteller and Skrill. Processing times are typically fast, with most transactions taking place within a few hours to a couple of business days.
- The education section on the OCTA website is well thought out, clearly presented, and made for different levels of traders – beginners, intermediate, and experienced.
- Once all steps have been completed, contact the customer support team to confirm the closure of your account.
- Our findings also highlight that customer service is one of OctaFX’s strongest suits, and it consistently receives positive feedback for responsiveness and efficiency.
- Trading instruments provided by Octa have some of the lowest spreads in the industry.
- These platforms offer advanced charting tools, technical indicators, and support for automated trading strategies using Expert Advisors (EAs).
The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. Opening an account with Octa is done online with a few simple steps which enable you to set up a real or demo account. The process also gives you plenty of information about trading in forex markets. Octa has made significant progress in a relatively short period of time. Since entering a very competitive market eight years ago, it has built up a client base of almost one million traders and won a host of industry awards. Such success is built on developing an approach that is, first and foremost, trader focused.
MetaTrader5 offers some extra tools for those traders looking to carry out analysis on a more granular scale. All of the platforms on offer are well regarded in the trading community. The MetaTrader suite of services is the most popular globally due to the blend of features it offers, and the OctaTrader platform is developing a following of it’s own.
The account opening process at OCTA is fully digital and can be completed within minutes via the company website. The broker offers three main account types; octafx broker reviews OctaFX MT4, OctaFX MT5, and OctaTrader. The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account.
OctaFX Broker support and customer services
Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Opinions, market data, and recommendations are subject to change at any time. Yes, OctaFX has a mobile application, so traders and investors can quickly get the advantage of working on the trades and positions from the comfort of their phones only. We would say from our experience that this broker has its license so you can use deposits or assets in this market. OctaFX has long been involved in investing and it is directly regulated by the government.
Trading conditions for OctaFX investors – What are the offers?
This is an observation rather than a criticism as it just demonstrates the way the site allows aggressive trading strategies to be carried out. Octa is as confident about its financing costs as it is its execution fees. The breakdown across the two different types of accounts is laid out in a reassuringly transparent manner. Research tools provided by OctaFX include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. Both social and copy trading is well provided for at OctaFX through their own proprietary copy trading service.
The texts on this page are not are not investment recommendations. The trading conditions are very good and the trading fees are low. On most payment methods, there are no fees for depositing and withdrawing money.
To use the VPS service, you must have an active account and a minimum deposit of $500. Furthermore, the platform functions as a learning hub, allowing traders to gain insights from successful strategies, thereby improving their trading abilities. This makes it an excellent choice for those looking to increase revenue by leveraging a larger network. Overall, the OctaFX Affiliate Program and its ancillary options provide traders with a comprehensive suite of opportunities to capitalize on their networks and expertise. OctaFX has launched a campaign called “Trade and Win Giveaway” to recognize the hard work of traders in the UAE. Meeting certain trading volume requirements allows participants to win exciting rewards like exclusive trips, laptops, or smartphones through random selections.
