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7/10
Overall Rating

OctaFX

Headquartered in London, UK, OctaFX is a licensed and regulated Forex broker that offers its financial services in over 100 countries around the world. It operates as a straight through processing (STP), as well as an Electronic Communication Network (ECN) FX broker. OctaFX Forex broker is an excellent provider of CFD and Forex trading to its clients. The firm is properly regulated by the major authorities, this includes a license of the British Financial Conduct Authority (FCA). OctaFX is also registered in 2011 in Saint Vincent and the Grenadines. Is OctaFX a reliable Forex broker or is it a scam broker? Find out more with AtoZ Markets Forex broker review of OctaFX.

Overview

Company
8/10
Trust
8/10
Trading Platform
7/10
Account Types
8/10
Cryptocurrency
6/10
Costs
7/10
Customer Support
7/10
Regulation
6/10

Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it. This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance. For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we host OctaFX.com.

Company

8/10

OctaFX caters for a wide variety of retail traders in over 100 different countries by providing them with the opportunity to trade currency pairs, cryptocurrencies, precious metals, market indices, stocks, and commodities. Established in 2011, Octa Markets Incorporated is headquartered in Saint Vincent and the Grenadines, an island in the Caribbean. 

Trust

8/10

Trading Platform

7/10

For trading platforms, OctaFX offer traders a choice of three different types of trading platforms. They include the MetaTrader 4 (MT4), the MetaTrader 5 (MT5), and the cTrader, each allowing for unlimited access from your desktop, laptop, or mobile device. The MT4 is designed to support your Windows, macOS, Android, iOS and Web version.

Account Types

8/10

OctaFX provides three different types of account: first, the Micro account which enables new traders to get started with a minimum deposit of only $5 and offers maximum leverage up to 1:500. Second, the Pro account uses the MetaTrader 5 platform for an experienced trader and has the best possible spreads, starting at 0.2 pips.

Third, is the ECN account that uses the cTrader platform that can be used to access the interbank rates. It has the best liquidity. The leverage is up to 1:500 with micro-lots (0.01 size) available for every trader.

Cryptocurrency

6/10

If you are interested in trading cryptocurrencies, you will be pleased to know that OctaFX provides four cryptocurrency CFDs, which includes the most famous digital coins; Bitcoin, Ripple, Ethereum, and Litecoin.

While all of them are available on the MT4 and MT5 platforms, with the leverage of 1:5, bear in mind that you would be trading, not investing since there is leverage involved.

Costs

7/10

Customer Support

7/10

OctaFX has an award-winning customer service support that is available 24 hours a day from Monday to Friday. On a daily basis, over 2,000 inquiries are handled by their dedicated representatives in a timely fashion. On top of that, clients are assisted in 4 different languages namely, English, Indonesian, Polish, and Spanish via email, direct chat, and toll-free phone lines give access to the company. In addition, market news, research, and a convenient economic calendar are provided every week.

Regulation

6/10

OctaFX is authorized by the regulator of the St. Vincent and the Grenadines, under license number 19776 IBC 2011. OctaFX acts in full compliance with the standards of international financial regulations and legislation. OctaFX is also under the supervision of the International Business Companies (Amendment and Consolidation) Act 2007, as well as the International Business Companies Regulations 2008, due to that brokerage was incorporated on the Caribbean islands.

Conclusion

In conclusion, OctaFX is one of the brokers more active in asia. Their bonuses and trading competitions make the firm especially interesting as many other brokers are no longer able to offer these promotions. OctaFX has already bagged a number of prestigious industry awards as well as favorable testimonials; hence, AtoZMarkets recommends them. Join one of their interesting demo contests today and stand a chance to win a real cash prize!

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