OctaFx Review
Learning online forex trading is fascinating, and choosing the correct broker is absolutely vital. This review will look at the services of a worldwide broker who has been around since 2011. Originally called OctaFX (now rebranded as Octa), it boasts over 42 million trading accounts spread across 180 countries.
From the Octa review, you will get to know that, it distinguishes itself for its dedication to positive impact as much as for commission-free trading. It supports local communities and education among several humanitarian endeavors.
As for the awards count, Octa has earned over 70 awards, which includes, “Most Reliable Broker Asia 2023” and the “Best Forex Broker 2023” award. Let us now explore why traders all around turn to Octa as their preferred platform.
Octa Review: Quick Summary
| 🏢 Headquarter | Saint Lucia |
| 📆 Established | 2011 |
| 🗺️ Regulation | CyseC, FSCA and MISA |
| 🖥 Platforms | MetaTrader 4 and MetaTrader 5 and OctaTrader |
| 📉 Instruments | Currency Pairs, Stock, Indices, Commodities, Crypto, Shares |
| 💳 Minimum Deposit | $25 |
| 💰 Deposit Methods | Neteller, Skrill, Litecoin, Dogecoin, Tether ERC-20, Ethereum, bitcoin, Mastercard and Bank Transfer |
| 📱 Mobile Trading | Yes |
| 🌍 Web Trading | Yes |
| 💵 Octa Minimum Trade Size | 0.01 Lots |
| 🎢 Octa Maximum Leverage | Up to 1:1000 |
| 🌍 ECN | No |
| 🤖 Robots | Yes |
| 🎯 Scalping | Allowed |
| ☎ Customer Support | 24/7 |
Octa Regulations
Operating under several licenses in particular financial markets, Octa is able to offer services in numerous EU nations, South Asia, the Asia Pacific area, and some Middle Eastern countries. Octa is not authorized to provide services in some key areas, like the UK and the US, thus keep in mind as well.
Officially registered with registration number HE359992, Octa European branch, Octa Markets Cyprus, has a valid license from the Cyprus Securities and Exchange Commission (CySEC) under license number 372/18. CySEC rules cover European clients.
Octa is present in Santa Lucia for clients from elsewhere. In order to improve their whole experience, the broker additionally secured a Comoros license and intends to transfer international clients under Comoros control.
Octa works with the intermediary Orinoco Capital in South Africa, registered under Financial Sector Conduct Authority (FSCA) under license number 51913 and with a Category I FSP license. For South African customers, Orinoco Capital acts as a point of contact managing complaints and guaranteeing local regulatory compliance to safeguard client funds as mandated by South African laws.
List of Important Financial Assets Available at Octa
Octa Account Types
In forex trading, having the correct account is really vital. Octa offers three various account models to fit various trading needs and preferences. Let’s thoroughly discuss every kind of account.
Octa Demo Account
Your key to opening the trading world free from danger is the Octa demo account. Before starting actual investments, this Forex practice ground lets you learn the hints of the trading platform and understand the dynamics of the Forex market.
Access the risk-free demo trading account without making any deposits to develop your abilities free from actual money loss. With simulated funds, the Octa demo account reflects all the features of its actual version, so providing you a real trading experience.
Why opt for the Octa demo account?
Octa Payments and Fees
Octa tries to create a trader-friendly environment and gives openness first priority. Their products have simplified and they now provide MT4 and MT5, formerly known as MT4 Micro and MT5 Pro. Especially, they have removed cTrader Octa from their choices.
Guaranteeing fairness, spreads on MT4 and Octa MT5 are now equal. On both platforms, the normal spread on the highly traded EUR/USD currency pair is a minimum 0.6 pip. While Octa MT4 provides 71 instruments to suit different trading tastes, Octa MT5 delivers an impressive 252 instrument count.
Their traders find great advantage in all accounts being swap-free. They thus do not impose any overnight costs, so improving the efficiency of your trading. At Octa, they want to create a setting free of hidden fees so traders may focus on their plans and objectives.
Octa Leverage
Octa broker thinks in enabling its traders with various leverage choices over a wide spectrum of instruments. Their platform gives leverage up to an amazing 1:1000 and offers trading with 52 currency pairings.
Octa traders can explore 150 selections from 16 stock exchanges for CFDs on stocks, all with leverage of 1:40 and zero commission, thereby ensuring cost-effectiveness for our customers. Researching indices? Octa offers leverage up to 1:400 and covers you with ten trading indexes.
It provides trading for the commodities on five main assets: Gold, Silver, Natural Gas, Brent Crude, and WTI Crude. Here traders can use leverage up to 1:200, so giving their efforts in the commodity market more freedom.
The broker supports over 34 cryptocurrency pairs for fans of cryptocurrencies, including well-known choices including Bitcoin, Ethereum, Litecoin, Ripple, and more. Using 1:200, traders can participate in crypto trading around-the-clock and grab chances in this quickly changing industry.
Usually, Octa understands the value of customized leverage choices since they let traders to maximize their tactics throughout several asset types. Discover the might of leverage at Octa and elevate your trading.
Octa Trading Platforms
Navigating the financial markets calls for a consistent and easy-to-use trading platform, and Octa recognizes the requirement of offering choices to fit every trader’s demands. Although EU zone traders only use the MT5 platform, users in other countries benefit from the adaptability of both MT4 and MT5, therefore providing a wider range of options.
Octa Review
Octa makes everything easier for trading! Two Octa trading apps let Android users follow tactics of experts: one for self-trading and another for Copy trading. Users of iOS devices love the General Octa trading app available anywhere. Users of Android can request Octa app APKs. While others have options between MT4 and MT5, EU traders need MT5. Trade boldly everywhere, at any time!
Octa Copying trading
Your route to success is octa’s copy trading tool. Given more than 3340 systems at hand, it has never been more simple to identify profitable approaches. Although 630 suppliers have shown profitability over the past three months, it is important to keep in mind that this information is changing since Octa is upgrading its ranking system. The predicted improvement in the Masters’ ranking will help to more fairly depict their performance.
Adding a layer of intelligence, based on our Octa copy trading analysis, the broker presents the Risk Score function—an automated indicator of the risk connected with every Master Trader’s approach. Computed using a specific algorithm, the Risk Score considers the average profit of a Master Trader, order volume, and strategy stability. This brings a basic change whereby copiers may choose a Master Trader depending on the reliability of the approach as well as their profit.
Masters with a score of 1 or 2 on a 6-point scale offer copiers a complete picture of informed decision-making since they employ more consistent, long-term-oriented, and less dangerous tactics. Octa Copy Trading is the fusion of simplicity and savvy investing.
Octa Review: Education
Octa’s got tons of great content for both pros and amateurs. Start by testing all the features on a sample account.
Nevertheless, it is not all. Octa’s staff is here to guide you and resembles a collection of trading superheroes. See their YouTube channel for Forex Basic Courses in English, Malay, Indonesian, Hindi, Urdu – all the main languages. Learning the ABCs of trading is like attending a fun class.
Feeling nice? Their “Trading with the Stars” initiative is another one you may join; it’s education combined with some fun. It exists in Urdu, Malay, and Hindi.
And wait; nevertheless, there is more Every Saturday they hold workshops for beginners. Manish Patel presents the Indian Saturday Workshop in Hindi, Gero Azul rocks the Malay Workshop, and Vito and Eco Bagus oversees three-day seminars in English and Indonesian.
Those who wish live action have webinars, live trade events, English, Malay, Indonesian, Urdu, and Hindi Q&A sessions. You will thus have a teacher right in your living room to enable you to be a trading master. Octa’s training serves as your road map to become a trading professional, not only in terms of figures!
October Broker Review: Withdrawal and Deposit
It’s quite easy to either withdraw your money or put it into your Octa account! If you live in the EU, you could use banks, digital wallets, or even big credit cards? For these money moves, Octa charges nothing further.
You have choices for EU deposits and withdrawals including Visa/ Mastercard, Swissquote Bank SA, Rietumu Bank, BlueOrange Bank, and Skrill. The minimum sums for both in- and out-of-pocket purchases are rather reasonable: €50 for credit cards, Skrill, and banks, €0.01, €5, and €50 for deposits. It’s like carrying a magic wallet that performs just how you want it to!
