OctaFX thrives in 2022 from improved trading features and services. Here are their biggest milestones during the year and plans for 2023.
2022 is a year of unprecedented change and struggle in the financial markets. For the leading international multi-asset broker, OctaFX, it was a year full of hard work helping generate several significant achievements and making access to investment easier for people around the world.
OctaFX is a global broker providing online trading services since 2011 with offices in the United Kingdom, Hong Kong, Indonesia, Cyprus, Malaysia, and Thailand. OctaFX offers commission-free access to financial markets and a range of services already used by clients with over 21 million trading accounts in more than 180 countries. They offer free educational webinars, articles, and analytical tools to help clients achieve their investment goals.
The broker has won over 50 awards in the forex industry since its inception, including "Best ECN Broker" in 2021 by World Finance and "Best Asia Global Broker" in 2022 by International Business Magazine.
In addition, the company is involved in a network of philanthropic initiatives, including education infrastructure improvements and short-term assistance projects that support local communities and small and medium enterprises.
The following is how OctaFX performed in 2022.
Trading Improvements
OctaFX has made many improvements in its instruments and features to support customers during the last year. Here are some notable ones:
New Cryptocurrencies and Trading Without Holidays
OctaFX offers crypto trading on weekends in early 2022. It is well known that most banks and online trading platforms only operate from Monday to Friday, but OctaFX's non-stop continuous trading idea is well received by traders who are unable to trade on weekdays.
In March 2022, OctaFX added 25 new crypto instruments to offer its clients more opportunities to diversify their trading experience and benefit from the unpredictable and highly volatile nature of the crypto market.
Swap Removal
Swaps are fees charged daily to traders for keeping their orders open overnight or longer. However, they tend to accumulate and make traders less profitable. OctaFX removes this financial burden by eliminating swaps to optimize the transaction processes of its clients.
50 Shares Added
OctaFX listed 150 stocks on 16 exchanges in October 2022 in addition to the existing 80 CFD instruments. This stock list includes some well-known names such as Airbus, Amazon, Apple, BMW, and Tesla, as well as other major companies from Australia, Europe, Japan, Singapore, the UK, and the US.
Octa is one of the most famous brokers in the world and has won many awards for its very comfortable trading atmosphere and proximity with customers. Octa was founded in 2011 with headquarters in Strovolou 47, Kyros Tower, Nicosia.
Prestigious awards that have been received by Octa include the Best ECN/STP 2019 and the 2019 Best Broker in Asia given by FX Daily Info. The Global Banking and Finance Review magazine also gave the Best Broker award in Asia in 2018 to this broker. More than that, there were also awards from European CEO Magazine (Best FX Broker 2018 and Best Trading Conditions).
For traders in most countries, Octa is under the authority of Octa Markets Incorporated and is registered in Saint Vincent and the Grenadines. This broker also provides various facilities, such as providing support services by live chat and WhatsApp in Indonesian. Not only that, deposits and withdrawals of funds can be done through various local banks. Octa does not charge commissions for every deposit and withdrawal of funds made by traders.
Octa offers different types of accounts that are carried out with market execution (STP/ ECN) and floating spreads from 0.2 pips. A variety of forex strategies, ranging from Scalping, Hedging, and the use of Expert Advisors are permitted in all accounts at Octa brokers.
There is also a fixed exchange rate offer when opening a Micro MT4 account. All deposits made in IDR will be calculated at the rate of USD1 = Rp10,000 and will be entered into the trader's account balance. Also, Swap-free accounts are available for Muslim traders who want to avoid overnight interest.
Trading in Octa is also suitable for novice traders. Because Octa offers low spreads, which are floating starting from 0.0 pips. The required initial deposit is also low, only USD25. The currencies used on the account are US Dollars and Euros.
Octa gives a bonus of 50% each time a trader makes a deposit. That way, the capital gained by the trader becomes bigger. Opportunities to open positions increased and deposit bonuses can be withdrawn on the terms and conditions.
If traders are still confused about calculating profits, the Octa platform provides a trading calculator for each account type. Traders only need to enter the currency pair being traded, the amount of leverage, the number of lots, and the type of currency used in the account.
Opportunities to get profits are also getting bigger with the Autochartist feature. Traders will get notifications quickly when there is a profit signal in trading. The accuracy of the trend prediction reaches 83%.
Traders do not need to worry about the safety of funds at this broker. Octa uses segregated accounts and protects personal data and online financial transactions with SSL technology. This is adjusted to the international accounting standards and regulations.
Another advantage offered by Octa is the Trade & Win program. Opening an account in Octa would open the opportunity to collect trading lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through Octa and simply exchange the prize lot in this promotion. Prizes that can be obtained by traders include T-shirts, Android Smartwatches, smartphones, and laptops.
Traders need not worry about missing out on promotions. Because Octa often bonuses and other promotions. This broker holds a trading contest every week on a demo account with real prize funds that can be used for trading.
One example of a prize contest is Octa Champion - MT4 Demo Contest. With a total prize of USD 1,000, there are places for 4 winners in each contest period.
OctaTrader Released
At the end of the year, OctaFX has its trading platform called OctaTrader. The platform aims to provide OctaFX clients with a clearer view of the market, helping them reduce potential risks and streamline decision-making. In addition, OctaTrader integrates seamlessly with other broker applications and online services.
Achievements and Branding
Here is proof that OctaFX provided the best platform and service for clients in 2022.
Won the Best Awards
OctaFX won a special trophy as "Best Mobile Trading Platform", one of the most important awards of 2022 from the international forex news portal Fxdailyinfo. The winners of the 27 candidates for the Forex Brokers Award 2022 are determined by a public vote reflecting the views of the global trading community.
In addition, OctaFX was also the winner of "Best Global Broker of Asia" from the Dubai-based financial publication International Business Magazine. Their editors decided to reward OctaFX partners for excellent service and most promising trading Instruments.
Apart from that, OctaFX also received several other awards in 2022, namely as "The Trusted Social Copy Trading Service" from ForexBrokers, as the "Best Forex Broker in India" for three consecutive years from World Finance, awards as "Best Crypto Trading Mobile Application" from AllForexRating, and as "Best Online Global Broker" from World Business Outlook Magazine announced at the end of January 2023.
All these awards are not only a measure of OctaFX's success as a global broker but also a testament to OctaFX's hard work, which has been trying to provide the best trading instruments and services for all its customers in the world.
Where to Find the Information on the Official Broker Site?
- This information is reported per May 4 2024.
- We can not ensure if this offering is still available or remain the same in future.
- The broker announcement page may or may not exist anymore, You may explore homepage and try to find "Promotion" section on the menu, footer, etc, to ensure the availability and validity of this promotion.
Rebranding and 11th Anniversary
Eleven years in providing brokerage services is a crucial milestone for OctaFX. For the first time in its history, the broker has decided to go for visual branding, introducing a fresh new look with elegant colors, space-inspired elements, and a new logo.
Services for Clients and Communities
- Trading Education
During 2022, OctaFX financial specialists are hosting approximately 700 webinars and workshops in six languages. The broker's YouTube channel has also grown to more than 980,000 subscribers. Building strong long-term relationships helps OctaFX commitment to education that helps clients' goals. - Local Communities Empowerment
Corporate social responsibility has always been one of the most aspects valued by OctaFX. By 2022, the broker has launched 17 philanthropic initiatives including charitable projects that have helped nearly 2000 people cope with the devastating effects of floods in Pakistan and earthquakes in Indonesia. Other projects have a primary focus on education, helping 50 schools, organizations, and more than 4000 students of all ages in India, India, Malaysia, Mexico, Nigeria, and Pakistan.
What's in Store for 2023?
After the end of efficient performance and impressive achievements in 2022, Some brighter developments will continue in 2023. OctaFX will keep on developing OctaTrader to launch in new areas and help more traders achieve their trading goals.
OctaFX is an international Forex broker that operates worldwide. The domain belongs to a group of companies called Octa Markets Incorporated which is registered with St. Vincent and Grenadines FSA. Currently, the company focuses on Asian, South African, and Australian markets. OctaFX.com does not accept European clients as this market is specifically appointed to OctaFX.eu (regulated by CySEC).
10 Comments
Mar 8 2023
That's fantastic news for OctaFX winning the "Best Mobile Trading Platform" award! It got me curious about the criteria that were taken into account during the voting process. Can you shed some light on what factors or features were considered when determining the winner? Were things like user-friendliness, speed, reliability, and available tools and indicators important criteria? Additionally, how influential was the feedback and opinions from the global trading community in determining the winner? Did OctaFX's commitment to meeting the needs and preferences of traders play a significant role in securing this prestigious award?
Mar 11 2023
Wow, trading cryptocurrencies at OctaFX sounds really intriguing. I've heard of other brokers that allow cryptocurrency trading on Saturdays, but only for half a day. I agree with the traders in the article - as a weekend worker, it's essential to have the opportunity to trade during our free time. If OctaFX really provides 24/7 crypto trading, it'll be an excellent option for me. Although I won't be able to trade Forex, I'm still thrilled that I can trade cryptocurrencies on weekends, even though it's riskier than trading Forex. But since we only have time on weekends, I think it's worth the risk.
Mar 11 2023
I have a couple of questions regarding your comment on OctaFX potentially offering 24/7 trading for cryptocurrencies. I also noticed that you mentioned Forex cannot be traded 24/7, and it got me thinking about why the traditional Forex market, which has been around for centuries, cannot operate 24/7 while the newer crypto market can. It's quite perplexing, and I'm curious to know the reason behind it.
As for my second question, I'm wondering why some brokers don't operate during the weekend when the crypto market is still active. Do they take a break or have some sort of holiday?
Mar 11 2023
Let me answer your question.
The traditional Forex market cannot operate 24/7 because it is regulated by central banks and other financial institutions, which have set hours of operation. Additionally, the Forex market is heavily dependent on interbank trading, which only occurs during certain hours of the day when banks are open. On the other hand, the crypto market is decentralized and operates on a peer-to-peer network, which allows it to operate 24/7 without any central regulation or restrictions. This decentralized nature also allows traders to buy and sell cryptocurrencies directly with each other at any time, making it possible for the market to operate continuously.
I'm not sure about the specific reasons for why some brokers choose to not operate during the weekend when the crypto market is still active (that's why I appreciate OctaFX). However, it's possible that they do so for a variety of reasons such as staffing limitations, maintenance and updates to their trading platform, or simply to give their employees a break
Mar 11 2023
OctaFX has received many achievements and rewards, which suggests that it is a good broker. However, I was surprised to learn that it is only regulated by two authorities, namely CySEC 372/18 and FSA (St. Vincent & Grenadines) 19776 IBC 2011, according to broker review at this website. This sets OctaFX apart from other brokers that have multiple regulations ranging from the strongest to the weakest regulatory bodies. I'm not sure why OctaFX hasn't obtained more regulations, but I'm still wondering about the reasons why a trusted broker that has been operating for 11 years only has not regulated from 1-tier regulator.
Mar 11 2023
I totally get what you mean. There could be a number of reasons why OctaFX has not sought regulation from more prominent regulators. In my opinion there are several factors. For one, seeking regulation from these authorities could be time-consuming and expensive. Plus, complying with different regulations could also limit the broker's trading terms, making it difficult to attract traders from certain countries.
In general, there are different reasons why a broker may choose to be regulated by only one or a few regulators. It could be due to the costs and effort involved in obtaining multiple licenses or simply a strategic decision to focus on a specific market or region. Some brokers may also feel that the level of regulation they already have is enough to meet the needs of their clients and the industry standards.
Jun 7 2023
OctaFX winning the award for 'Best Mobile Trading Platform' from Fxdailyinfo, an international forex news portal, is quite an accomplishment. It's interesting to learn that the winners of the Forex Brokers Award are determined through a public vote, reflecting the views of the global trading community. In terms of assessing the reliability and credibility of OctaFX as a forex broker, how significant is winning such an award based on a public vote? Does it provide reassurance to traders about the broker's quality and services? Additionally, are there any other factors or indicators that traders should consider when evaluating the reliability of a forex broker apart from awards and public recognition? I'm curious to gain insights into the role of awards and community feedback in assessing the trustworthiness and reputation of brokers like OctaFX in the forex industry
Jun 13 2023
@Anna: Oh, winning the 'Best Mobile Trading Platform' award from Fxdailyinfo is definitely a big achievement for OctaFX! The fact that the winners are determined through a public vote adds an interesting element. When it comes to assessing the reliability and credibility of a forex broker like OctaFX, winning such an award based on a public vote holds significant weight.
The public vote reflects the views and experiences of traders from around the world, which provides reassurance about the broker's quality and services. It shows that OctaFX has managed to meet the expectations and needs of the trading community, particularly in terms of their mobile trading platform. Winning this award indicates that OctaFX has excelled in providing a user-friendly, efficient, and reliable mobile trading experience.
Jun 26 2023
When utilizing OctaFX's innovative trading platform, OctaTrader, I am eager to focus my attention on specific shares or stocks that can maximize the platform's capabilities and provide a comprehensive view of the market. With OctaTrader's primary goal being to equip OctaFX clients with a clearer understanding of market dynamics while reducing potential risks and streamlining decision-making, I am intrigued to discover which shares or stocks are particularly well-suited for analysis and trading using this platform. Are there any specific industries or sectors where OctaTrader's seamless integration with other broker applications and online services can offer valuable insights and provide a competitive edge? I would love to explore the potential advantages of utilizing OctaTrader in conjunction with shares or stocks that align well with its features and functionalities. By focusing on these specific shares, I aim to optimize my trading experience, enhance my decision-making process, and potentially capitalize on emerging opportunities in the market. So, which shares or stocks would you recommend I pay attention to in order to leverage the full potential of OctaTrader and make the most informed trading decisions?
Jul 3 2023
@Andrew: When it comes to maximizing OctaTrader's capabilities and making the most informed trading decisions, there are a few shares or stocks that could align well with the platform's features. One interesting sector to explore is the tech industry. Tech stocks are known for their potential growth and innovation, and with OctaTrader's seamless integration with other broker applications and online services, you can keep a close eye on tech companies and leverage valuable insights to identify trading opportunities.
Another sector worth considering is the healthcare industry. Healthcare stocks can be influenced by various factors, such as medical advancements, regulatory changes, and global health trends. OctaTrader's comprehensive market view can provide you with the necessary tools and analysis to navigate the healthcare sector and potentially capitalize on market trends and breakthroughs.
Furthermore, the energy sector can offer intriguing opportunities. With OctaTrader's goal of reducing risks and providing a clearer understanding of market dynamics, you can stay informed about energy-related news, monitor oil prices, and analyze companies involved in renewable energy or traditional energy sources.
Remember, the specific shares or stocks you focus on should align with your trading goals and strategies. Conduct thorough research, analyze market trends, and stay updated with the latest news and analysis in your chosen sector