OctaFX is a leading online Forex and CFD broker founded in 2011. The brand belongs to Octa Markets Inc. OctaFX was given several prestigious awards. The company was acknowledged by Global Banking and Finance Review as the fastest growing broker a year after it started to operate. In 2013, World Finance magazine awarded it the Best Broker in Central & Eastern Europe title. In 2015 and 2016, OctaFX was acknowledged as the best STP broker.
OctaFX is regulated by the UK-based Financial Conduct Authority (FCA), one of the strictest financial regulatory bodies. The company was registered in 2011 in Saint Vincent and the Grenadines (license number 19776 IBC 2011).
For FCA-authorized brokers, the base capital requirement is €730,000 with client funds must be kept on segregated accounts separate from the company’s operating funds.
Most importantly, all clients of the FCA- authorized financial services firms are covered by the Financial Services Compensation Scheme (FSCS). This means that the FSCS can pay traders compensation if a broker is unable to meet its financial obligations. The compensation is limited to £50,000 per person.
OctaFX offers reliable trading platforms MetaTrader 4, MetaTrader 5 and CTrader .
MetaTrader 4 is the most popular trading platform. It has the function of charts plotting and a wide range of technical indicators. It also supports the use of trading robots (Expert Advisors). MetaTrader 4 is available in PC and mobile versions.
MetaTrader 5 is the latest trading software developed by MetaQuotes Software Corp. It supports several types of orders (market orders, pending orders, trailing stop and stop orders).
All transactions on the CTrader platform are executed through the ECN technology providing traders with direct market access. CTrader is also available in PC and mobile versions.
OctaFX offers various account types, including Micro, Pro and ECN accounts. Trading assets include forex, metals and commodities.
The minimum initial deposit amount for OctaFX clients is $100. This is an average amount required by brokers in general.
A typical spread is 0.6 pips for the EUR/USD pair, which is a fairly good deal as most brokers offer spreads from 1 to 1.5 pips.
The highest leverage provided by the broker is 1:500.
The quotes at OctaFX are quoted at up to 5 decimal places.
OctaFX payment options include wire transfer, credit cards, Neteller. Withdrawals are made the same way as deposits.
Client support service
OctaFX client support is available 24/5. Traders can ask their questions by email, in chat rooms or by phone.
OctaFX 2/10 (votes 2193)