OctaFX Review ️ ️Is OctaFX Legit & Safe or a Scam

OctaFX has recently announced about it going swap-free in all the regions it operates. Now, leaving their orders open overnight, traders won’t be obliged to pay overnight fees. Due to this traders will no longer hesitate to use mid-term and long-term stategies.

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Any customer can also use this platform for Forex and CFD trading. It analyzes transactions in financial markets and provides secure and fast access. Users of OctaFX can ensure traders’ advanced access to trading operations in a reliable environment. OctaFX trading is an international broker so it supports many languages. It is also very popular as it can automatically supply trades to the market. Also, MT4 has more advanced charging capabilities, it is fully customizable.

OctaFX Reviews

By opening your next broker account through our site links, you are supporting ongoing efforts to help global investors avoid scams. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. It would be useful to be able to sort the columns from highest to lowest, but that feature is not yet available when looking at the Master Rating results page.

The Economic Calendar, Interest Rates, and National Holidays sections provide a brief summary of market happenings. Additionally, OctaFX provides the MT5 trading platform, which is the only one that allows you to trade any asset class. The most comprehensive out-of-the-box solution is cTrader, which is optimised for trading via an electronic communications network . MT4 retains its supremacy in automated trading, the financial sector’s fastest-growing area.

octafx scam

There will be differences in withdrawal methods between brokerage firms and different fees, processing times, and currency conversions between payment providers. The conversion fee is dependent on the currency that you are sending and receiving, as well as your payment processor. When withdrawing funds from OctaFX, you can use credit cards, debit cards, Visa, MasterCard, bank transfers, electronic wallets, and many more. You can use a free demo account to evaluate the platform first before depositing. Your virtual credit will be included, in the demo account with 10,000$ in automatic funding.

Overall OctaFX Ranking

The rules are evenly enforced without regard to which company the review is left for and whether the review is positive or negative. The FPA even has special penalties when a company’s employees are caught leaving fake “client” reviews. But If someone still wants to know…OctaFX still owes me $5. They are still speeding up the process and telling me to wait, I will “receive my funds in the soonest time”, whatever that means, it is still undefined. Their support is just a waste of time, they don’t provide any help or give you any information.

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 read more about these competitions on their demo page. You are also likely to incur some other trading fees based on the account that you have.

You can find that and much more useful information here… It looks like the censorship is everywhere and you think yourselves for Gods. You are noone to decide what are my relationships with a broker. If you state you publish Unbiased reviews, then you don’t need moderators to judge what will be published and what will not. Else, you should change your advertized texts to BIASED reviews.

Thank you so much for taking the time to share your kind words with us. We are thrilled to hear that you are satisfied with the deposit, withdrawal and that it has met your expectations. We strive to provide our customers with the highest level of satisfaction possible, and we’re so glad to octafx broker reviews know that we have succeeded in your case. Regarding your feedback, we’ve taken note of your feedback, and we’ll pass it over to the relevant team for further consideration. We recommend you to follow us on all our social media platforms to stay updated with the latest news and promotions.

Minimum deposits at OctaFX will vary depending on your country of residence and your chosen payment method. They can go as low as $25 when funding with Visa/Mastercard, to 50 euros when using Skrill/Neteller to as much as 500,000 Indian rupees . It’s important to note that minimum deposits and trading costs will also depend on which OctaFX entity you choose for establishing your trading account. OctaFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if OctaFX wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. It has made great strides with its pricing options for traders, but suffers from a limited range of tradeable instruments and a lack of variety in its educational content.

  • Cyber Scam Review provides all information free of charge.
  • If you do not provide your full name and email address, the account will not be created.
  • OctaFX is authorised by zero tier-1 regulators , two tier-2 regulator , and zero tier-3 regulators .
  • If this was true, companies would stop paying the FPA to remove reviews, since paying to remove bad reviews isn’t working.

The broker also offers the older MT4 option for those clients who prefer conducting their trades on it. Being able to access your funds at any time with ease and convenience is another point with a regulated broker and our OctaFX Review. So together with its strict money management rules, you may fund your account by deposit through a bank account with no complication.

OctaFX does not let me withdraw my profits! USD $28080.31

As a result, OctaFX is practically unregulated; nevertheless, this does not exclude this broker from engaging in malpractice or fraud. Since 2011, OctaFX has grown steadily as a result of its trader-friendly business approach. Indeed, over 1,500,000 traders trust OctaFX, which should be noted while assessing OctaFX. OctaFX is based in St. Vincent and the Grenadines, where Octa Markets Incorporated is a Financial Services Authority-registered company . International business companies are regulated by the Financial Services Authority , but Forex brokers are not. In addition to the cash prizes for the winners themselves, the competition also allows traders to hone their trading skills without risking account balances.

OctaFX Spreads are ranked low with overall rating 9 out of 10 based on our testing comparison to other brokers. We rank it as very good for spreads we found among lowest in industry for Forex trading and Commodities. With our Expert finds and review we consider proposal a good one, there are low fees and very low deposit requirements for Forex trading and conditions are overal good. OctaFX might be a choice for regular size traders, scalpers and Forex tradedrs. OctaFX Copytrading enables experienced traders to augment their income, while the instructional portions educate novice retail Forex traders. OctaFX’s attractiveness is bolstered by a robust incentive system, and the company continues to execute its business strategy effectively.

WebTrader is a popular and convenient trading platform like MT4 and MT5. This trade allows traders to trade through browsers from anywhere. OctaFX CySEC regulationThe OctaFX broker has several licenses, which bring some great benefits for traders.

To open an account you need to use your name and an email as well as a strong password. If you do not provide your full name and email address, the account will not be created. OctaFX helps customers to know the basics by using the mobile trading app in the market. The mobile trading app encourages the customer to increase investment. See below the benefits you will get in the mobile app for MetaTrader 4/5. Steven Hatzakis is the Global Director of Research for ForexBrokers.com.

In addition to the above rights, the broker is also regulated and licensed by the Caribbean Financial Conduct Authority . We were also quite disappointed to see that although they did offer EAs, there were no VPS promotions. These are usually packaged with most brokers and provide the client with a pre-installed VPS with a discount code at a hosting service. If you are looking for more in-depth explanations and documentation for some of the functions on the trading platforms then you can use their comprehensive manuals. These cover the interface, charts, EAs, signals as well as Autochartist. Anyone can become a master but you will have to take into account how well you trade.

Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business. The third type of scam that you can stumble upon online involves creating a one-day scam company, such as a Forex broker or a crypto exchange. OctaFX is a worldwide known brokerage that helps you access the forex market and enjoy the real ECN-offset, minimising costs to the maximum. Our brokerage won numerous awards, including Best ECN Broker 2020 according to World Finance, because we continuously improve our services to provide the best trading conditions on the market. We believe in a partnership, that’s why we welcome all feedback, to understand our users’ needs and provide them with the best Forex trading experience. Please keep in mind that we’re an ECN broker, and we do not regulate market movements.

OctaFX Review: Complete Forex Broker Overview

If you are going to be away from your desk and you need to monitor your positions then these are probably your best alternative. To get the most out of this functionality you will probably want to download cTrader to your PC although it can be used in a browser or traded through your mobile phone. Finally, if you would prefer to automate your trading strategy then you can use the cTrader automate which will help you develop custom robots. You have extensive back-testing capability with this suite of programming tools. If you are a heavy technical analyst then you can create your own charting indicators through the cTrader developer network. Of course, this may not really be needed when you consider that there are already 70 different indicators included on the platform.

They can take payment via and of the major credit cards, through an e-wallet or through traditional bank wires / deposits. As mentioned, Metaquotes develops a mobile application for both the MT5 platform as well as the MT4. These are perhaps one of the most downloaded trading apps in the world and have been perfectly honed over the years. For those traders who have chosen the pro account, you will be able to use the slightly more advanced MT5 platform.

It has been designed by OctaFX Markets for traders in a way that is easily accessible on mobile. OctaFX clients allow them to access trading on any Android device. Being mobile-friendly, it offers https://forexbroker-listing.com/ many benefits to clients or merchants. OctaFX customers may not be able to place orders using mobile devices, where they will be able to perform basic technical analysis on the full chart.

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