Forex Broker – OctaFX Review

OctaFX Review

OctaFX is an ECN Forex broker, that provides services worldwide. The broker of course is regulated by the financial authorities of St. Vincent and the Grenadines. The broker also offers great spreads as well as the ability to take part in several different promotions. Therefore, you’d want to check this broker every so often in order not to miss another exciting chance.

Company Information

Name:
Octa Markets Incorporated
Website:
www.octafx.com
Founded in:
2011
Headquarters:
Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines, VC0100
Broker Type ECN/STP/DMA
Broker Status Independent Broker
Accept U.S Clients No
Live Chat Yes
Phone United Kingdom: +44 20 3322 1059
Hong Kong: +852 5808 8865
Indonesia: +62 21 51111801
Whatsapp (Texts only): +34 605 122 333
Email support@octafx.com
Website Languages English, Indonesian, Chinese, Malaysian, Portugeese, Spanish, Thai, German, Bengali, Hindi
Free Demo Account Yes
Min. Deposit $50
Trading Platforms MT4, MT5, cTrader (desktop, Andriod, iOS, web-cased client)
Mobile Trading Yes
Web Trading Yes
Account types MetaTrader4 Micro; MetaTrader5 Pro; cTrader ECN
Minimal Order Volume 0.01
Leverage Up to 1:500
Spreads Floating, starting at 0.0 pips
Precision 5 digits
Trading tools Up to 43 currency pairs, 4 metals, 10 index CFDs, 2 crude oil
Gold, Silver Yes
CFDs Yes
Account Currencies USD or Euro
Deposit options Bank Wire, Visa / MasterCard, UnionPay, Indonesia Local Banks, Neteller, Skrill, Pakistan Local Banks, Thai local banks, India Local Banks, Malaysian Local Banks
Execution Market Execution from under 0.1 second
Margin Call / Stop Out levels When account margin level reaches 25% / 15%
Scalping Yes
Expert Advisors Yes
Hedging Yes
Segregated accounts Yes
Swap-free Accounts Yes
MAM/PAMM accounts No
Managed account No
One-click execution Yes
OCO orders No
Promotion Yes, 50% bonus
Trading Contests Yes, demo
Platforms

OctaFX offers 2 trading platforms: MetaTrader4 platforms and cTrader. Both have the ability to be run on your desktop, Android, iPhone, and in the case of cTrader – web-based. Now you can receive the best in FX trading, from any computer with internet access.

The cTrader platform is expanded in order to trade more pairs, and has the ability to operate in a true ECN environment. The floating spread conditions are from 0.2 pips, allowing the trader to take advantage of short-term opportunities with ease.

Main Features

OctaFX offers several different trading accounts, but spends most of its time working on keeping spreads ultra-tight. Along with that, they do offer Forex news, Forex calculators, and interest-rates around the world. Because of this, less time is needed on “fluff”, and more time on what matters – profits for the client.

Client Support

Clients can expect live chat as one means of support, as well as social networks. The broker also offers phone, Blackberry, and Yahoo messenger support. And then of course the usual phone support that one would anticipate from a professional broker with numbers in Malaysia and St. Vincent and the Grenadines. Obviously, email is possible for support as well.

Ultimate Overview

OctaFX offers incredibly tight spreads for all account types. They offer an excellent environment for long-term successful trading and have received several awards for their customer support and execution. Because of this, we feel that this broker offers an excellent opportunity for traders around the world, especially professionals that simply worry about execution and tight spreads in order to increase their profits.

The broker also offers a 50% bonus on each deposit, as well as offering different trading contests, such as the monthly demo account “OctaFX champion” and weekly demo account with a prize fund of $400.