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OctaFX Review ️ Unbiased Pros and Cons Revealed

Before copy traders get to follow Master Traders, they must first fund their copy trading account. OctaFX shows you how much money fortfs review you should provide each Master Trader. Traders can either make a direct deposit or transfer funds from their trading account.

OctaFX Copytrading offers an opportunity to automatically copy leading traders and forget about long hours of building your own trading strategy. Choose from the best Masters of Forex and diversify your trading portfolio. OctaFX provides negative balance protection and keeps client funds segregated from company funds. The offshore entity of OctaFX is registered in Saint Vincent and the Grenadines. OctaFX has over a decade of experience and has built a substantial global presence. They performed well in multiple categories, including fees, deposit/withdrawals, research, and education.

The languages supported by the customer support staff are English, Indonesian, Spanish, and Polish. For withdrawal requests, the processing time is almost take from 1 -3 hours and validated through an email. However, this will only happen provided personal information about the withdrawer in available and verified. As per the international anti-money laundering laws, Forex brokers need to follow specific rules and OctaFX complies to them all. 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.

OctaFXs Trading Instruments

Will be disappointed that OctaFX only allows trading accounts to be denominated in EUR and USD. Always check the exchange rate when converting from GBP to other currencies as hidden conversion fees can make trading expensive and affect profitability. OctaFX considers the negative balance protection offered to its clients as self-evident deriv review and treats it very seriously. List and Nigeria forex brokers list where we have covered various broker platforms suitable for every trader. OctaFX offers traders 50% bonus promotions on each deposit they initiate. Both novice investors and high-skilled investors can benefit through quality and in-depth market insights into the market.

octafx broker reviews

Despite the fact that the broker has a YouTube channel and a blog, you may be left unsatisfied. For a long time in the OctaFX trading, Argentina, Australia, Austria, Bahrain, Belarus, Brazil have been trading deposits. Also, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark are far ahead in terms of business investment. Renowned European countries such as Estonia, France, Finland, Germany, Greece, Hungary, India, Ireland, Israel, and Italy are directly involved in OctaFX investment. OctaFX includes many more countries, including Kuwait, Malaysia, Malta, Mexico, Monaco, the Netherlands, Norway, Latvia, and Liechtenstein.

OctaFX In Their Own Words

So together with its strict money management rules, you may fund your account by deposit through a bank account with no complication. OctaFX supports a variety of strategies, such as Expert Advisor strategies . In addition to this compatibility, copy trading is offered to users with any OctaFX account type. Simply enter your first and last names, email address, country of residence and address, and phone number to trade with a demo account. After your email has been confirmed, you can go to OctaFX’s user dashboard and create a demo account.

But many people look at this quite skeptically as they believe its too good to be true. But the thing is, as we’ve already mentioned, thanks to the size of the brokerage they are able to maintain this business model. OctaFX displays one of the primary examples of good transparency. Their primary values, goals, and information can be found in their About Us page. The thing to note here is that they actually disclose the information about their regulators. The OctaFX regulator is currently the FCA, which is one of the most trusted financial watchdogs out there.

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I think this is a vital tool and always like to check if there is any pending news before taking a trade. You will also find an economic calendar built-in the MT5 platform which could be more convenient to access and save you the hassle of switching between tabs. For a broker that has only been operating for 5 years, it has already gained quite a reputation and a loyal following. If you’re looking for a fresh face, but one that is reliable and efficient, you aren’t going to go far wrong if you choose OctaFX. And with the choice of three different demo accounts to pick from, you won’t lose anything either if you open an OctaFX demo account today. If you’re a football fan you’ll be pleased to learn that OctaFX is the current sponsor of Southampton Football Club in the UK.

octafx broker reviews

CTrader – this software solution is a relative beginner in the market, but is already gaining popularity among many interested traders. The terminal is similar to MT4, but it has several additional tools that make it unique and safe. You can contact them anytime, and they will reach out within no time. They have such a great customer care service, and that’s why people love to choose this platform over any other.

The major forex pairs are offered, yes, but almost no emerging markets are. No stocks are offered, only 2 commodity assets, and 2 cryptocurrencies. Even smaller losses like 10 pips can result in an extremely negative impact on an account, making high leverage unsuitable for all traders. As mentioned briefly above, OctaFX offers 3 main account types. The account type will determine which platform you trade with, as well as the fees charged.

How to open an OctaFX account

OctaFX also offers traders the Autochartist plugin for MT4/MT5. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. I was attracted by browser mt4 version that they have and that’s why i joined. I used to use ctrader but its not quite my cup of tea and i prefer the good old metatrder but with the ability to trade wherever i can. In this sense, i like that they have both computer and mobile options. There is no need for a long explanation about this, they feature spreads as low as 0.4 pips, which could be a godsend for a high-volume trader.

It has an excellent analytical section, well-designed education for beginners, world-class trading tools, and a range of exciting bonus options for British traders. Additionally, its customer support is available 24/7, which is exceptional in an industry where the norm is 24/5. With the OctaFX trading platform, clients have the ability to credit a withdrawal in less than one second. The withdrawal processing times do not have any compensation fees or deposit compliances. The mobile trading apps are available for download on iOS and Android from google play.

Who is owner of OctaFX?

Georgios D. Pantzis – CEO / General Manager @ OctaFX – Crunchbase Person Profile.

If you have any previous experience with OctaFX, please share it in the reviews section below. Our sister site FXScouts also awarded OctaFX Best Forex Copy Trading Platform 2020 for its innovative approach to copy trading. In addition to all these regular updates, there are irregular short pieces published in reaction to trading events with detailed technical insight.

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Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. The economic calendar displays a list of up and coming financial news releases including the country and level of impact. You can also see the actual, forecast and previous results of these releases. The calendar has advanced filters to only show news that is relevant to you.

How long can you hold a trade in OctaFX?

MetaTrader 4—30 days.

Asset list and leverage overview currency pairs 35 cryptocurrency pairs with 5 commodities and 5 metals. Let’s check out all the comparison feature of OctaFX & dig deeper into the OctaFX review. OctaFX provides traders with low trading spreads for the purpose of a scalping trading strategy. OctaFX regulation in major jurisdictions, which puts it at a severe disadvantage compared to other trusted trade forex brokers. OctaFX has the best possible market volatility valuations for trading instruments. There are not a lot of tradable funds for users to share assets.

Neteller, Skrill, and PerfectMoney are just a few of the payment options available. The broker provides non-EU users a 50 percent bonus on deposits, which is a big plus. OctaFX users can fund their trading accounts using a variety of payment methods. Traditional methods such as bank transfer, credit card, or direct deposit are available in over 100 countries, and there’s also cryptocurrency and a variety of electronic payment methods.

With forex brokers reducing leverage and the industry getting more regulated, trading your… It is one of the best Forex trading brokers, with around 1.5 million users in 100 countries. You can start trading simply with the high account balance, or you can use a demo account for free that does not require any deposit. OctaFX is offering competitive conditions that are suitable for traders of any level.

The online broker deactivates MT5 and MT4 demo accounts if you leave them inactive for 30 days. It deactivates cTrader accounts if you leave them inactive for 90 days and demo contest accounts at the end of the round. If you are a beginner, you can use your demo account to learn trading. If you are a seasoned trader, you can use your demo account to test new Forex strategies. If you want to practice Forex trading without risking your own money, you can open a demo account at OctaFX.

ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. OctaFX is a duly registered international business company in Saint Vincent and the Grenadines and operates legally. A risk management tool is also available, called the drawdown percentage . Should the Master Trader face losses, the DDP will close the copiers position.

Also, MT4 has more advanced charging capabilities, it is fully customizable. Client funds are held in segregated accounts in accordance with lmfx forex broker review international regulation standards. Keeping funds separate from the company funds means that they cannot access them for any other purpose.

OctaFX trading does not give or receive access to US customers in any way. Before any broker enters the market, you should know whether the market is moving upwards or downwards. It is up to you to decide whether to buy or sell stock spreads in this market. If you see a drop in the market price then you need to click on ‘Sell’. On the other hand, if you see that the price has increased, then click on the ‘Buy’ button. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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