It is always good to see when a broker is well regarded not just by their clients but also by fellow industry members. There are also a host of other conditions that come attached to these bonuses so we would recommend that you read all of these on the OctaFX website. We found these guides to be quite comprehensive and informed. They were relatively easy to follow and could help supplement the demo account if you are starting out. These are some introductory articles to Forex trading that are well positioned at the beginner / intermediate level.
You are also likely to incur some other trading fees based on the account that you have. Of course, these are not the minimum spreads that you will sometimes see being quoted. You can see a complete list of the spreads that are applied to the different assets on their spreads page. This means that the broker cannot use client funds for their own business.
OctaFX is a well established CFD and Forex broker that has grown considerably over the past few years.
- You can diversify your portfolio with OctaFX offering gold, silver, crude oil and other commodities.
- The basics of location, ownership, trading services are not accessible.
- Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility.
- OctaFX have a good selection of useful trading tools that can be used for trading signals, market analysis and risk management.
- If you want to open a live trading account right away, you will find that the sign in procedure is the same.
- All the normal payment channels are supported by OctaFX, including bank wire transfers, Skrill, major debit and credit cards, as well as UnionPay.
MT4 for Android and iOS allows you to manage your trades on the move. You can download the apps on the Google Play Store and the Apple App Store, respectively. Silver players get all the benefits of Bronze players along with trading signals by Autochartist. Alternatively, you can sign up to your demo account with Facebook and Google. You don’t have to pay commissions on withdrawals and deposits. Please, try to avoid profanity and foul language in the text of your review, or it will be declined from publishing.
It is the number one choice for many traders since it offers some unique benefits that you cannot find in other platforms. For instance, the platform comes with a dozen technical analysis indicators, expert advisors, advanced charting package, and wide back-testing environment. Octa FX offers the MT4, MT5 and cTrader forex trading top platform.
If you are on the MT5 Pro account then you won’t pay a swap fee but you will have to incur what they call their “Three Days Fee”. This is charged every third rollover, that is, every third night at Midnight. For example, if you are on the Micro account then you may have to pay a swap fee. This could be a fee or a rebate as it is tied to interest rate differentials outside of the control of OctaFX. However, what they do lack in terms of asset coverage, they may make up for in leverage. OctaFX seems to offer most of the standard asset classes including Forex, Commodities, Equities and Crypto. However, delving into the assets themselves shows the coverage to be rather lacking.
We appreciate you being our client and want to say that you’re always welcome on our chat at any time if you have any questions or suggestions. We deeply regret that you were having a hard time trying to deposit, and you couldn’t reach out to our support team. Unfortunately, we couldn’t identify you on our system and look into your previous inquiries since you didn’t provide your account details in your review. If you could contact us directly and share this information with our Interactive Brokers Review team, it will help us investigate the issue and understand what happened with your payment. Octa Markets Cyprus Ltd offers Spot Forex and Contracts for Differences on assets including Equity Indices, Spot Metals and Commodities. Octa Markets Cyprus Ltd offers easy-to-use platforms such as MetaTrader 5 and cTrader. The Trading Signals plug-in that OctaFX provides to clients is one of a range of research and learning tools that helps prepare traders for such market conditions.
Regulation gives you some recourse for those who have issues with OctaFX. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client’s investment in the event the broker becomes insolvent. If OctaFX violate any regulatory rules their regulated status could be stripped. You can sign up for a demo account to acquaint yourself with OctaFX platform. Investing online can be just as risky as any other kind of offline investment.
They replied cool, swap free accounts made for Muslim religious and their is no difference between swap free accounts and other accounts. They advertise swap free accounts available in Octafx is only attract the clients. there live chat service is great they will always there for your query’s .
In these pieces, the authors cover some of the most important concepts in FX trading. There is also a video that will walk you through your account section and help you locate important functions.
OctaFX is regulated by Financial Conduct Authority so can be considered legit. The mt5 trading platform offered by OctaFX is perhaps the best feature I make use of as it offers automation. In the initial stage when I was an inexperienced, untrained immature trader about 8 months back I had experienced capital losses. Besides the trade & win gifts and several such complimentary offers make trading with this company a spectacular experience.
Or are you hoping to find a broker with more to offer than just an online trading service? Today’s modern trader seems to be looking for a little more, and many are turning to ways of making online trading more competitive.
All the platforms come with multiple order types, support manual/automated trading, feature several cutting-edge trading tools, and are accessible across all computers and mobile devices. On-boarding is particularly straight forward with users guided through a series of questions towards the account type considered the best fit for them.
Free Forex Trading Signals From Autochartist
Firstly, the broker doesn’t offer the best range of asset coverage. The major forex pairs are offered, yes, but almost no emerging markets are. No stocks are offered, only 2 commodity assets, and 2 cryptocurrencies. Traders looking for a better range of assets should consider CMC Markets or IG. Some topics include, risk management, trading strategies, and technical and fundamental analysis. New traders might enjoy the firm’s Introduction to the Forex Market as their first read. This section holds some introductory articles to forex trading that are most suitable for traders at a beginner to intermediate level.
Customer service representatives in Jakarta, Indonesia are eager to provide support in several languages. OctaFX notes that these reps handle over 2,000 inquiries each day and resolve queries in five minutes on average, a testament to their professional ability to respond in a timely fashion. The company also supplies market news, research, and a convenient economic calendar. They are professional in their job so I had to seek for a professional recovery agent and hacker that will help me reclaim all my scammed funds. However, I came in contact with an expert on fightingscams at aol dt com who assisted me to reclaim my funds. The spreads and commissions are determined by the account you choose.
Performing Trades With Octafx
If you need to get in touch with customer support you can do it via live chat, by email or by telephoning direct to one of its offices. The customer care department operates 24 hours a day, 5 days a week, so you never need to feel you have to struggle on your own. OctaFX is a relative newcomer to the world of Forex trading, but it has already managed to pick up some significant industry awards. At the Forex Awards 2015 it was named as the Best Forex Broker in Europe, as well as receiving an award for offering the Best Islamic Account. The European CEO Magazine also named it the Best STP Broker of 2015. Detailed installation guides are available on every one of these platforms.
said the CEO of the parent company, Octa Markets Incorporated.OctaFX main trading platform is the industry standard MetaTrader 4 . GripeO is the leading social platform for consumers to share their experiences with businesses and other people. We thrive for helping the marketplace become less ambiguous and more transparent. I realize https://davwalkerdesignandstructures.com/index.php/2020/12/02/best-forex-broker-reviews/ why OctaFx hasn’t put in much effort in providing customer support. They only want you to invst as much as you can so they can steal from you. It’s either that, or maybe their organization is so faulty that they don’t want to hear the complaints of their various customers. There is no email-id so the traders can contact the company.
We’ve looked into your review, and as we can see, it is still being investigated by our Financial Department. We can also see that you’ve recently mentioned on social media that one of the transactions got back successfully, but there’s still one missing. We’re extremely sorry that it’s taking so long, and we apologize for all the inconvenience you may have faced as a result. Please note that we’re still exchanging with the payment processor and are waiting for updates to provide you with as soon as new information reveals itself. They don’t have a trading practice called partially closing a trade. If you are making losses on the trade you cant close it partially to minimize the loss. Rather it will book the entire loss and again open a new trade of the remaining lot.
Platforms & Tools
If you make deposits using these e-payment providers, the amount is credited to your account in real-time. Moreover, OctaFX offers live chat support on its website from Monday to Friday during active trading hours. We found that the best way to get a fast Foreign exchange reserves response from OctaFX is by contacting them on the online chat as the company promises high priority immediate response through this channel. OctaFX also offers free demo accounts and we are happy to report that these demo accounts have no set expiry date.