Forex risk disclaimer involves a high degree of risk in trading securities. The firm’s idea behind the launch into the trading expanse was to be of service to high-skilled advanced traders by offering them a reliable and robust trading platform. OctaFX founded in 2011, OctaFX is a part of a group of global entities.
- TopBrokers.com would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
- Different brokers offer different types of spreads, and it is important to compare the different types of spreads before making a decision about which broker to use.
- The cTrader ECN account is not far off but is limited to 28 forex pairs and 2 metals markets but offers a differential by being a commission-based account.
- Spreads are widest on the MT4 Micro account and there are also fewer instruments to trade through this account.
These videos appear to be well produced and easy enough to follow. 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. On the copy trading dashboard, you can see the rankings of the various “masters”.
The broker thus is not eligible to provide promotional bonuses to traders. In a complete contradiction to this, OctaFx flaunts the 50% bonus offer on its website. So if you have been investing in unit tusts and/or stocks and wish to diversify your portfolio, you may wish to consider the forex market. Apart https://forexreviewdaily.com/octafx/ from the traditional banking system, the forex market tends to be one of the largest and the most influential, having the most liquid assets worldwide. And because of the internet, one can facilitate trades at any time of the day, anywhere in the world, right from your mobile device or computer.
OctaFX offers low fees, highly responsive customer service, advanced technology and copy-trading. The firm operates across more than 100 different countries and has consistently shown its commitment towards meeting its customers’ needs and building customer relationships. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.
The only reason I switched brokers was because the broker had upped their fee and I didn’t want to pay that. Octafx could have had a great client but their act showed me they are just a forex scam.
And we feel like, for their sake, we do not need to comment further on the feelings of the author, as they’re not reflective of a broader spectrum of things. Social media presence and staying connected with our community of traders and prospects has always been our goal. We value transparency and accessibility, so the only thing we can point to is that we feel sorry the author hasn’t felt this way. We wish we came across this review sooner, but although some time has passed, we feel obliged to address its points, which we find portray our services incorrectly. You should keep a distance from such unregulated and malicious brokers. Don’t bother working with them, there are plenty of options in the market, choose from those.
Octafx Trading Platform
While OctaFX operates without a regulator, it remains a duly registered international business company in Saint Vincent and the Grenadines with registration number IBC 2011. It Forex does segregate client deposits from corporate funds and offers negative balance protection. OctaFX also has been catering to clients from over 100 countries for over a decade.
Although trading glossaries are pretty standard among forex brokers, they’re highly useful. OctaFX’s glossary shows pages of terms and their explanations all laid out in alphabetical order. For more in-depth explanations, you can take a look at their comprehensive manuals, covering the interface, EAs, charts, signals, and Autochartist. For traders relying on some support throughout their trading journey, finding a good support team will be crucial to your experience. This is most likely the most well-known trading platform out there and is very popular with traders around the world. In terms of deposits on the fiat side, traders can pay in either USD or EUR.
This means that they do not operate a dealing desk and can therefore give you some of the lowest fees. Often, traders can sell a security “short” in the hopes oxtafx of making a profit from a currency pair that is declining in price. This is a speculative strategy and it can leave you vulnerable to unlimited risk.
They performed well in multiple categories, including fees, deposit/withdrawals, research, and education. In article format, OctaFX provides dozens of detailed guides on subjects ranging from how to use moving averages to setting up the Autochartist Metatrader plugin. octafx com An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. OctaFX also provides platform tutorials videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade.
CTrader is also quite a sophisticated platform and comes with a host of features. For example, it comes with level 2 quotes as well as access to the FIX API. Orders are also processed much more https://en.wikipedia.org/wiki/Foreign_exchange_market quickly without any order queues. For example, on the Champion demo the first prize is $1,000 credited to your account. The cTrader competition is for a weekly draw of the $400 prize pool.
You can top up your demo funds on request while you refine your trading strategies or test your trading bots. As mentioned before, there are three main account types that you can use at OctaFX. The https://forexreviewdaily.com/octafx/ choice of these accounts will determine the platform that you trade on and the fees that are applied. The account type will determine which platform you trade with, as well as the fees charged.