OctaFX Review 2019 | Is OctaFX a Scam or Legit Forex Broker?
Read our OctaFX review to find out if OctaFX is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.
OctaFX Overview
At onlineforextrading.net we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly! For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this OctaFX broker review.
OctaFX is recognised globally for offering the lowest spreads in the industry and prides itself on its award-winning trading conditions. OctaFX is an excellent provider of CFD and Forex trading to clients in over 100 countries.
| # | Broker's Features | OCTAFX Availability |
|---|---|---|
| # | Commissions | ❌ |
| # | Hedging | ✔ |
| # | PAMM | ❌ |
| # | Scalping | ✔ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ✔ |
| # | Swaps | ✔ |
| # | Demo account | ✔ |
| # | Daily analysis | ❌ |
| # | Automated trading | ✔ |
| # | Mobile trading | ✔ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ✔ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ✔ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review OctaFX.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. OctaFX offers Online Financial Trading and Investment Services Such as Gold, Silver, Crypto, Indices.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. OctaFX is BrokerEXT_SMALL1.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. OctaFX recommended minimum capital is 5.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. OctaFX is regulated by FCA UK. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. OctaFX offers EUR, USD different account currencies for each account types.
Languages Available: Next lets have a look at each broker's different Language options. OctaFX offers English, Indonesian, Chinese, Portuguese, Spanish,.
Payment methods: Next lets have a look at each broker's payment options. OctaFX offers Credit Cards, Wire Transfer, Skrill, FasaPay, Nete different payment methods for each account types.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, OctaFX makes Metatrader 4/5, MT4/5 Mobile for Android/iPhone, c available to clients.