OctaFX Review for 2019

OctaFX Rated 3/5
OctaFX have a low rating. We recommend you look at one of their alternative brokers.
Good alternatives to OctaFX

OctaFX Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of OctaFX we break down the pros and cons. What OctaFX are able to offer, what countries OctaFX are available in. Who OctaFX are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open OctaFX's Website

As with any investment your capital is at risk, losses can exceed deposits.

At the bottom of this review you can also learn about some pretty good alternatives to OctaFX

With this review we hope to help you see if OctaFX is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding OctaFX that will help you get off to a good start in the world of online trading.

OctaFX what you should know

OctaFX offer one way to trade: Forex.

With OctaFX you will need a minimum deposit of $5. You can sign up for a demo account to acquaint yourself with OctaFX platform.

OctaFX are able to accommodate various levels of traders whether you are experienced or a beginner.


Are OctaFX safe?

When choosing a broker like OctaFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2011, and in operation for 8 years OctaFX have a head office in St. Vincent and the Grenadines.

OctaFX is regulated. This means OctaFX are supervised by and is checked for conduct by the Unregulated regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to OctaFX, this will be honored. If OctaFX violate any regulatory rules their regulated status could be stripped.

Any payments funded to OctaFX accounts by traders are held in a segregated bank account.

For added security OctaFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with OctaFX. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit OctaFX

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like

  • Used by over 30,000 traders
  • Established in 2011
  • Regulated by Unregulated
  • Min. deposit from $5

What we don't like

OctaFX General Fees

  • OctaFX doesn't charge withdrawal fees
  • OctaFX doesn't charge inactivity fees

OctaFX Commissions

  • OctaFX doesn't charge commission on CFD shares

What can you trade with OctaFX?

You can trade a wide variety of instruments with OctaFX over instruments infact.

If you are looking at trading currency pairs OctaFX offer over currency pairs.

Compare OctaFX with Interactive Brokers and XTB below.

FX / Currencies OctaFX IB XTB
# of forex pairs offered 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes
Exotic forex pairs Yes
Cryptocurrencies No No Yes
Commodity CFDs OctaFX Interactive Brokers XTB
# of commodities offered 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs OctaFX Interactive Brokers XTB
# of Stocks offered 1500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
OctaFX's
Instruments
IB's
Instruments
XTB's
Instruments

Trading on OctaFX web platforms and other applications

OctaFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

OctaFX is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

OctaFX also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See OctaFX's platforms

OctaFX Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

OctaFX Trading Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Islamic account

Can I try OctaFX before I buy?

OctaFX offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding methods do OctaFX accept?

OctaFX offer the below funding payment methods. learn more about OctaFX

  • Credit cards
  • Bank Transfer
  • Neteller

How can I start trading with OctaFX?

When opening a trading account with OctaFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on OctaFX trading platforms here.

Performing trades with OctaFX

OctaFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. OctaFX allow you to execute a maxium trade of 10 Lot. As OctaFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, OctaFX offer margin up to 2.12% on currencies.

Support at OctaFX

OctaFX support a limited number including English

OctaFX have a triple AAA grade support rating because they offer a wide range of languages, live chat, phone and email support.

What you will need to open an account with OctaFX

As OctaFX is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore OctaFX's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with OctaFX you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.octafx.co.uk/ on 12th August 2018.

OCTAFX Frequently Asked Questions

Can I try OctaFX before I buy?

OctaFX offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do OctaFX accept?

OctaFX offer the below funding payment methods accept Credit cards, Bank Transfers, Neteller, among other payment methods. Learn more here

How can I start trading with OctaFX?

When opening a trading account with OctaFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on OctaFX trading platforms here.

Is my money safe with OctaFX?

OctaFX is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like OctaFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to OctaFX, this will be honored. If they violate any regulatory rules their regulated status can be stripped.