Octa Reviews Read Customer Service Reviews of octafx com

Octa Reviews Read Customer Service Reviews of octafx com

I liked the daily webinars with professional traders that let you learn while trading in a live environment to experience how traders analyse the markets in real time. Octa offers the basic options when it comes to octafx review funding your account through traditional methods and some crypto options. The broker offers reasonable times to process your deposit and withdrawals. As you can see from the above table all the accounts offer the same regarding trading costs, the only difference is the trading platform. If you want to trade all markets Octa provides, I found your only option is the MetaTrader 5 account. I think Octa is a solid option as it provides excellent features that I think will appeal to a variety of traders.

CySec Regulations and What This Means 🤔

OctaFX is based in St. Vincent and the Grenadines and is regulated by financial authorities in that nation. While many trading platforms restrict access for foreign nationals, OctaFX welcomes clients from over 180 countries, although it does not currently serve US customers due to regulatory restrictions. Crypto enthusiasts will find OctaFX’s cryptocurrency trading feature appealing, especially as digital currencies gain mainstream acceptance. The absence of fees and commissions adds to the appeal, and the platform encourages active trading through monthly prizes and a referral program.

Spreads and Fees ⚖

You can experience an “over the shoulder” session with a trader which is helpful to get professional feedback on current market events. The deposit options with Octa are decent, giving you multiple ways to fund your account with no deposit fees. The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit. I think having Octa Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold.

Swap-Free Account Fees

• OctaFX is an exceptional trading platform that caters to traders of all levels.
• Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker.
• We have gone over these above and if you are looking to use a particular platform then you will have to open that account.
• One of Octa’s impressive features I found was the no swap fees on all of its accounts.
• With Octa being an ECN broker, I found MetaTrader 5 can utilise its advanced features like depth of markets tool for you to analyse market order flow.

In case you don’t, please feel free to contact us via Our dedicated 24/7 support team is available in English, Indonesian, Malay, and more. Octa offers a range of trading opportunitites mostly targeted on Contracts for Difference (CFDs) among several asset classes, however there is no classsic Investment Plans or Opportunitites provided by OctaFX. Octa also keeps a thorough FAQ section on its website to answer often-asked questions about trading and account management. The broker also actively appears on Facebook, Twitter, and Instagram, offering still more means of communication.

Trading Platform

As a licensed broker that obliges to safety measures, Octa Cyprus offers only Bank Wire Transfer for its European clients. As for the international entity it also includes Credit Cards, e-wallets and other methods which you may check with customer service before any transfer is done. Octa is a versatile choice for traders since it presents a good range of over 300 trading instruments across several asset classes, yet the range is consistant of mainly most popular and volatile instruments. For a wider selection of products with thousands of instruments we would advise selecct other Broker then. Furthermore, efficient trade management depends on MT4’s quick order execution, which is absolutely important for active traders. Generally, Octa’s integration of MT4 offers a strong trading solution that combines extensive features with user-friendly usability, so it’s a great fit for several trading approaches.

These include such concepts as Technical and Fundamental Analysis, charting and indicators. These guides not only include the theory behind the disciplines but they also have helpful images that explain the concepts with examples. Most of these resources are actually available free of charge on their website and can be viewed by you right now. This will give you a good grasp of the trading concepts before you dive in with an account. This is an interesting concept that has been used by other European brokers. Withdrawals are just as simple and all that you need to do is to head to your “withdraw” section in your account.

The security of your funds – in terms of regulatory protection – will depend on which Octa entity holds your account, and which, if any, relevant regulations provide customer protections. It’s worth noting that Octa’s primary execution venue is one of its own entities in St. Lucia. This Octa review aims to give a clear view of the broker and its services. We hope, with these insights, anyone interested in Octa trading opportunities could decide whether to invest in them or not.

OctaFX Review 2024: Is This Broker Legit or a Scam?

Although receiving some free money is quite enticing and almost irresistible, they exist to entice traders to trade more aggressively to help meet targets that could erode any profit made. As mentioned, OctaFX offers very competitive spreads and with the new rates due to the current COVID-19 epidemic, rates will be even better on all 3 accounts. Both are primary platforms with OctaFX and are the most popular platforms with traders in the FX market. To see the commission that you will pay on a particular Islamic compliant trade OctaFX offers a tool to calculate the commission on MetaTrader 4, MetaTrader 5 and the eTrader platforms. The Islamic account can be accessed through all of OctaFX’s trading accounts mentioned above.

These platforms offer advanced charting tools, technical indicators, and support for automated trading strategies using Expert Advisors (EAs). 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. You will pay a slightly higher minimum deposit to avail of this account. OctaFX is a good ECN DMA broker choice and great for scalping, hedging, and autotrading.

• Should any arise for you then you can feel safe in the knowledge that you can go to CySec and report any complaints through its self reporting portal.
• If you are going to be trading with them, make sure that you practice appropriate risk management.
• Some of them may not be available within every region or account type.
• Their Islamic account is available on all of their trading accounts that they have listed above.
• Octa has recently announced about it going swap-free in all the regions it operates.

In fact, the platform and broker have won many awards for this service. You can expect market execution to happen in under 0.1 seconds. The spreads when trading here are also kept as tight as possible. The combination oflow spreads and fast execution speeds make this broker a great choice for scalpers. You can request a human agent who was surprisingly not as helpful as the AI with canned answers and no depth of product knowledge.

This applies to all markets including forex, commodities, and cryptos. My experience with Octa’s customer service was largely positive thanks to its 24/7 customer support and impressive AI live chat service. I felt that when I was passed to human agents on live chat it was hit and miss as basic questions were not answered, while other times they were. The copy trading platform is also a bonus, which is the perfect opportunity to mirror the trades of 1,500 traders and leverage their experience to profit from leveraged markets. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.