Starting at 0.6 pip on main currency pairs like EUR/USD for all three account avialable at International trading, the broker offers reasonable spreads. For traders—especially scalpers—this low spread structure is helpful since it lowers the total trading expenses and increases profit possibilities. Octa broker offers three account types available at International porposal that also define trading conditions by the platform that is used for trading itself.
Forex Fraud Certified Brokers
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Note that depending on your region, these methods may change slightly. Those interested in copy trading can download the OCTA Copytrading app from Google Play Store. For further inquiries on a copy trading feature or two, OCTA offers client assistance in the form of 24/7 live chat. Upon further checking, we are informed that their client support will respond to any further inquiries within 30 seconds.
- These labels denote some milestone that the Master Traders have reached, although their performance and results can vary.
- OctaFX MetaTrader 5 has many advanced trading tools for more advanced users.Understanding these tools can give you a competitive edge.
- It’s recommended that you check the OctaFX website before signing up.
- For further inquiries on a copy trading feature or two, OCTA offers client assistance in the form of 24/7 live chat.
- OctaFX requires a minimum deposit of 5 GBP/USD/EUR when opening an OctaFX trading account.
- Financial regulation and licensing are crucial for creating a secure trading environment for OctaFX traders.
We can say with confidence then, if you like trading with an ECN broker and are looking for a fast, low-spread environment, OctaFX would be a top choice. The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account. You will also find fixed spreads available on the MT4 Micro account that start from 2 pips.
- With more than 42 million accounts spread across 180 countries, multi-regulated broker Octa provides a wide range of trading options across asset classes.
- In the MT5 trading environment, you can start trading in forex markets and CFDs with exceptional functionalities.
- Users from all over the world have traded in the financial markets using our platforms and mobile apps.
- So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account.
- They have never compromised their forex-based articles, which are considered one of the best blogs in the market.
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. Depositing funds with OctaFX ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if OctaFX were to go out of business unexpectedly.
Usually, Octa confirms withdrawals within 1-2 business days, but allow extra days for your Bank to process the transaction. Furthermore, efficient trade management depends on MT4’s quick order execution, which is absolutely important for active traders. Generally, Octa’s integration of MT4 offers a strong trading solution that combines extensive features with user-friendly usability, so it’s a great fit for several trading approaches. The “Space” functionality, which provides tailored trading ideas and market analysis straight on the platform, is one prominent feature.
Octa MT4 and MT5 trading platforms
Having passion for writing, he covers news articles from blockchain to cryptocurrency. Research tools provided by OctaFX include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. First off, you will notice when you are trading at OctaFX that the broker website has a huge FAQ section which in itself covers a range of topics with dozens of answers to the most common questions. This bonus is also withdrawable though you must meet certain terms and conditions set by the broker. You can access strategies to follow through the community forums and program your own with MQL5 and C# fully supported. This means you can open positions with as little as $1,000 and this amount can be further reduced if you are trading on leverage.
This is a high-risk investment and you should not expect to be protected if something goes wrong. In the trading world, brokers like OctaFX, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don’t require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features. MetaTrader 4 (MT4) makes digital trading easy with lots of tools to choose from.
Spreads
The simple interface of the program ensures quick navigation, which qualifies for both new and expert traders. By means of Expert Advisors (EAs), MT4 supports automated trading, therefore improving trading efficiency and facilitating users to apply algorithmic techniques effortlessly. The trading experience is enhanced by the availability of more than 25,000 custom indicators and plugins; the interface is simple, and navigation is easy. Also, there is no commission based account soffered all Broker fee strucutre is based on spread, which is important to note for trades who prefere commission fee structure.
Navigating Regulatory Transparency
Minimum deposits at Octa will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which Octa entity you choose for establishing your trading account. You can just tell it by watching their account types, they have two. The differences are the platform and assets options, thats pretty much it.
These are, EUR within the EU, and both EUR, and USD for traders outside the EU. This is rather a limited selection compared with other top brokers. It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading. It is the ideal way to get to know more about a broker or the industry. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with OctaFX. This means that no matter the financial situation of the broker, your funds will always be safe.
Indices
Right from the start of the process, Octa FX is keen to support traders by offering access to the 24/7 customer support team who are on hand around the clock to help with any queries. Both trading platforms allow CFDs and cryptocurrencies trading along with following the easy accessibility user friendliness methods to allow all trades everywhere at any time access. You can access both platforms from the web, IOS, android, and windows. OctaFX offers a free demo account to new forex beginners to practice trading in forex with no limits. It acts as a real account except no real funds are invested, virtual funds and virtual profits or losses allow investors to apply and follow different trading strategies and find the best one that works for them.
OctaFX cautions clients to be wary of scam artists and to take into account the following security recommendations. Though it has been granted regulatory status in Cyprus and South Africa via an intermediary (Orinoco Capital), Octa’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. All information on 55brokers.com is only published for general information octafx broker reviews purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. Yet, if you still prefer to use high leverage, the international entity of Octa Leverage still allows so.