OctaFX Review

OctaFX Logo

Established in 2011, OctaFX is an award-winning broker that offers trading services in forex and CFDs on stock, indices, cryptocurrency, metals, energies, and other commodities via their flexible trading platforms that are loaded with useful trading tools. The broker operates the STP and ECN models of trade executions and offers different account types to suit all types of traders, providing quality trading conditions, such as very competitive fees, good execution speeds with minimal slippage, negative balance protection, and prompt customer support. Little wonder they won the Best Forex Broker Asia in 2018.

OctaFX Review - MetaTrader 4
OctaFX Review – MetaTrader 4

OctaFX Platforms & Tools

The broker provides their clients with MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, which are among the most widely used trading platforms for online trading. MT4 and MT5 feature advanced charting and automated trading systems and are available as a web terminal that can load on modern browsers, desktop applications for Windows and Mac computers, and mobile apps for Android and iOS devices. The cTrader platform features cloud service, advanced charts, and a FIX API for trading with direct market access and is available as desktop applications, web terminal, and mobile apps.

OctaFX Review - AutoChartist
OctaFX Review – AutoChartist

In addition to the tools that come with the trading platforms, the broker provides a number of useful extra trading tools, such as the OctaFX Copytrading App, AutoChartist, Market Insights, Economic Calendar, Profit Calculator, and more.

OctaFX Research & Education

OctaFX has a good number of educational resources, including tutorial videos, guides, FAQs and a glossary of trading terminologies. Topics covered in the guides and tutorial videos range from basic trading lessons, like an introduction to trading, to advanced technical and fundamental analysis.

OctaFX Review - Market Insights
OctaFX Review – Market Insights

OctaFX Trading Accounts

The broker offers 3 account types — Micro, Pro, and ECN accounts — as well as Islam-friendly, swap-free accounts on request. The main features of the account types are as follows:

  • Micro Account: This is for beginner traders and is available on MT4. The minimum deposit is $100; spreads can be floating (from 0.4pips) or fixed (2pips); and the available instruments are 28 currency pairs, 2 metals, 4 indices, and 3 cryptos.
  • Pro Account: For experienced traders and available on MT5; Minimum deposit of $500; Floating spreads that start from 0.2pips (no commission); and the available instruments are 28 currency pairs, 4 metals, energies, 10 indices, and 3 cryptos.
  • ECN Account: Available on cTrader; floating spreads that start from 0pips; a minimum deposit of $100; and the available instruments are 28 currency pairs, gold, and silver

OctaFX Account Funding

Account funding and withdrawal options accepted by OctaFX include wire transfer, credit card, Neteller, Skrill, and Bitcoin. Bank transfers may take a few days to clear. Accounts can be in USD or EUR.

OctaFX Customer Service

OctaFX’s customer support team is available 24/5 and can be reached via online chat, telephone, and email. You can communicate with them in English, Indonesia, Malay, Thai, Hindi, or Urdu.

OctaFX Regulation

The broker has an international arm that operates from St. Vincent and the Grenadines and an EU arm that operates from Cyprus as a Cyprus Investment firm. The OctaFX EU arm is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and also abide by the rules of the European Securities and Markets Authority — the financial regulatory arm of the EU. The international arm is regulated by the Financial Services Authority of St. Vincent and the Grenadines.

OctaFX Review Summary

OctaFX is an award-winning broker that offer forex trading and CFDs on stocks, indices, cryptos, metals, and energies via MT4, MT5, and cTrader platforms. The broker provides their clients with several useful trading tools and educational resources.

OctaFX

7.2

Spreads

7.0/10

Liquidity

7.0/10

Commissions

7.0/10

Support

7.0/10

Regulation

8.0/10

Features

  • MT4, MT5, and cTrader
  • Extra tools like the OctaFX Copytrading App, AutoChartist
  • A decent range of tradable instruments
  • Many educational resources