Explore Octa's journey in 2023 through such as winning awards, rebranding, launching OctaTrader, and CSR efforts. Let's see a year of their milestones and positive change.
As the financial landscape evolves, Octa Broker continues to stride forward, setting new standards of excellence in the trading industry. The year 2023 was marked by significant achievements and transformative moments, solidifying Octa's position as a leader in the field.
In 2023, Octa was sweeping awards with rebranding endeavors and innovative platform launches. This Octa article will demonstrate the broker's commitment to growth, clarity, and social responsibility. Now, let's explore the highlights of Octa's remarkable year.
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.
Winning Multiple Awards
In addition to numerous esteemed local awards, in 2023 Octa received recognition from the World Business Outlook magazine for its swift and diverse withdrawal options, earning titles such as:
- Singapore's Fastest Withdrawal Broker 2023 and Singapore's Safest Trading Platform 2023.
- Octa was honored with the 'Best Forex Broker 2023' award by AllForexRating.com, garnering over 2,000 votes.
- Towards the end of the year, another Octa achievement as 'Most Reliable Broker Asia 2023' at the Global Forex Awards 2023 organized by Holiston Media, where winners were determined through public voting involving traders and industry experts worldwide.
OctaFX Becomes Octa
In September 2023, OctaFX made a significant decision to rebrand as Octa. This change marked a significant milestone for the company, accompanied by a large-scale media campaign titled 'Trading made clear'.
The rebranding aimed to reflect Octa's expanded range of financial instruments beyond FX services, including commodities, stock indices, stocks, and cryptocurrencies.
The decision to rebrand underscored Octa's commitment to making financial trading accessible and understandable for everyone. It emphasized their dedication to supporting clients' financial goals and promoting clarity in finance. The Octa performance this year set the stage for future developments.
The Launch of OctaTrader
At the beginning of the year, Octa made a significant stride by fully introducing its trading platform called OctaTrader.
This platform caters to mobile users on both iOS and Android devices, as well as web traders. It offers various features such as charts, popular indicators, technical analysis tools, multiple timeframes, and more, all within a multilingual interface.
The launch of OctaTrader represented a notable advancement for Octa in 2023, enabling it to offer clients a straightforward and comprehensive trading system that enhances efficiency and speed.
CSR Activities
In 2023, Octa significantly expanded its corporate social responsibility (CSR) efforts, completing 21 impactful projects worldwide.
These initiatives addressed emergency response needs and enhanced educational opportunities for underprivileged students, benefiting over 5,700 individuals.
A significant portion of Octa's CSR focus was dedicated to improving education, supporting 100 institutions and over 3,300 students.
Additionally, Octa provided aid to more than 2,400 individuals affected by natural disasters in Indonesia, Malaysia, and Nigeria, offering essential supplies and contributing to long-term recovery efforts.
What's Next in 2024?
That was the Octa broker recap in 2023. The no-commission broker thrived amidst a dynamic and fruitful period, reaching pivotal milestones that underscored its prominence in the industry. Looking forward to 2024, Octa envisions enriching its educational resources with insightful articles, engaging webinars, and expert guidance.
Furthermore, the leading broker plans to craft a sophisticated analytical hub, seamlessly integrating diverse information streams into a unified trading ecosystem to benefit its clientele.