OctaFX trading app allows traders to access the market via smartphones. It supports many beneficial features such as market analysis, promotions and bonuses, as well as free deposits and withdrawals.
OctaFX is one of the trusted global brokers through that supports online trading at a low cost. OctaFX was founded in 2011 and is part of international business companies (IBCs) which include Octa Market Incorporated in Saint Vincent and the Grenadines and Octa Market Cyprus Ltd. Furthermore, this forex broker has grown rapidly and developed a strong client base in the Asia Pacific region.
OctaFX separates all funds from the company's operating capital and offers negative balance protection to all its clients. The advantages don't stop there as the company can offer traders higher leverage and bonuses.
If you want easy access to a broker with a wide range of instruments, you can try the OctaFX trading app for Android and iOS. Let's take a closer look and decide whether the OctaFX app is right and safe.
OctaFX app offers an easy-to-use mobile platform so clients can use their smartphones for trading and investing. At the time of writing, it has a 4.5/5 rating out of over 178k users on the Google Playstore and is installed more than 10 million times by traders worldwide.
Traders can download the apps via these platforms:
OctaFX provides an unconditional swap-free feature and the basic experience of the MetaTrader platform with low spreads starting from 0.6 pips.
What Can Be Traded on the OctaFX App?
OctaFX is one of the best forex brokers in the world that offers trading instruments including Forex assets, Commodities, Cryptocurrencies, Indices, Metals, Energies, and CFDs. In detail, it has 35 Currency Pairs + Gold + Silver, 3 Energies, 10 Indices, 30 Cryptocurrencies, and 150 Shares (on the MT5 platform).
Leverage is available up to 1:500 for Forex pairs, 1:50 for Indices, 1:200 for Commodities, 1:200 for Metals, 1:25 for Cryptocurrencies, and 1:20 for Stocks.
What Are the Account Types?
You can trade using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) accounts to support online trading. Both accounts can be registered with an initial deposit of at least $100 with spreads starting from 0.6 pips, a minimum volume of 0.01 lots with a maximum leverage of 1:500, and a margin call/stop out level of 25%/15%. US Dollar and Euro are the available base currencies used in this OctaFX application.
The difference between OctaFX's two account types lies in the instrument variation in Indices and Stocks. The MT5 account provides 10 Indices and 150 Stocks, while the MT4 one only supports 4 Indices without any Stock. Also, The maximum volume offered by MT5 is 500 lots, while the maximum volume in MT4 is 200 lots.
In these 2 accounts, MT5 has more advantages over MT4 and is the choice of smart traders because it has more investment instruments. However, the MT4 account is also suitable for aspiring traders or ordinary traders who like to trade simple.
Other Features
The OctaFX mobile app has all the basic features one would expect from a trading platform. Aside from instrument choices and two account types, here are other notable features from the app:
Market Analysis and Education
The "Trading Tools" section of the OctaFX app provides important market information by providing content ranging from daily trading posts, technical and fundamental analysis of the market, and market trading strategies. This would allow provide you with the right information to react to market fluctuations in real-time to manage your positions, get the right trading profit opportunities, as well as avoid risks.
The app also provides access to a complete economic calendar that is very useful for you to track events that will affect forex trading and also a profit calculator feature to analyze market scenarios and forecast strategies to take. Interestingly, OctaFX also adds a "Webinar" feature to enhance your trading knowledge and understanding via recorded live trading sessions.
Promotions and Bonuses
OctaFX offers you a bonus scheme for every deposit of up to 50%. The company also provides "Trade & Win" for traders, where calculating 1 prize lot is equal to 1 lot traded. The more lots you trade, the bigger the prizes.
In my opinion, this is a good feature because OctaFX gives its traders appreciation to increase their motivation for trading. In addition, OctaFX provides a special "affiliate link" program for users who can invite friends.
Deposit and Withdrawal
OctaFX provides convenience to make deposits and withdrawals by allowing many payment options without commissions and fees. The competitive pricing environment is accompanied with low deposit requirements that may start from $25.
For deposits, OctaFX clients can use many methods including internet banking, credit cards, debit cards, Bitcoin, Skrill, Neteller, Dogecoin, Ethereum, Litecoin, Tether (ERC 20), and Tether (TRC 20). The process usually takes only 3 minutes to 1 hour.
For withdrawals, OctaFX provides the same payment methods (more or less) with a processing time of 1 to 3 hours. Withdrawal requests will be processed every Monday-Friday from 06:00 to 22:00 EET.
In general, the execution time of both OctaFX deposits and withdrawals is fairly fast compared to other brokers which could take a few days, especially in withdrawals.
Final Verdict
OctaFX is a good broker and can be accessed even on the go for trading by providing 2 MetaTrader accounts namely MT4 and MT5. OctaFX has been operating for about 10 years and continues to develop its products and services. The app has many features that make it easy for you to trade effectively with competitive fees, low spreads, and a global reach. The deposit and withdrawal processing time is also relatively fast compared to other brokers.
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).
21 Comments
Jan 4 2023
I have been in the world of trading for almost 2 years by trying various types of brokers for trading. The last two months were the first time I tried trading at Octa FX. Indeed, this platform provides good features with the copy trading service provided. And even the copy trading service has its own platform and can be downloaded separately on the mobile app.But I am not satisfied with the range of trading instruments that OctaFX offers, especially in the low stock ranges and the number of available currency pairs. And I'm also not satisfied with the leverage offered. In my opinion it is a small amount compared to other brokers
Jan 9 2023
Jan 4 2023
I've learned about trading in college, but I've never tried to apply it because I don't really believe in it. Now, this is the first time I dare to enter the world of trading. But before that, I want to make sure the broker I will choose is a good and safe broker. I'm a little interested in OctaFX because I often find this application in several social media advertisements. After I read this article, I have one question about this octa fx. This question determines my judgment of this plform. Does this broker guarantee security for my money and account? I want to check it out, for added confidence I chose octa FX for trading platform.
Jan 4 2023
Jan 4 2023
Jan 4 2023
Jan 9 2023
Regarding OctaFX regulation, I have a different opinion. Many newbies are unaware of this, but I believe OCtaFX should be regulated by a other top regulatory body, and possibly by the highest financial regulator. The reason is to convince experienced traders to trade with them. OctaFX's advertisement was very interesting, but when I saw their regulations, I thought twice about trading with them although they have 10 years experience. - But if I was being asked about the OctaFX, I can say that trading with OCTAFX is safe and it is trusted because they have a segregated account that separates my funds from the broker's funds. Yes, the only drawback of OctaFX for me is regulation.
Jan 4 2023
Indeed, Octa Fx offers lots of good features and competes with other brokers. Especially with the copy trading service which adds a plus rating to this broker. OctaFX is without a doubt the best broker for forex. I have made a lot of money through it. However, several times I encountered problems in withdrawing funds, but the support in the application was not good and took too long in my opinion. I also don't like the trading instruments offered by this broker. According to my instrument, it is very limited in terms of the stocks and crypto currencies offered. I feel dissatisfied with the offer because it makes my choices in trading limited.
Jan 9 2023
Jan 4 2023
I studied trading in college but never tried to use it because I didn't really believe in it. Well, this is my first time venturing into the world of trading. And yes, after reading this article I am even more convinced to jump into trading. And made Octa FX my first account in forex trading. However, this article does not explain how to register an account at Okta FX As far as I register for an account at a broker, there are account verification stages. How to register an account at Octa FX and verify it? Usually how long does the process take?
Jan 4 2023
Stella: The account opening process at OctaFX is simple and fully digital, and the account is ready for trading in no time. Account verification is only required for withdrawals. New traders should click on the "Open an account" button at the top of the page, after which they will be asked to create an account.
It is recommended to view the OctaFX Risk Agreement Statement, Client, Terms, and Conditions before starting trading.
Jan 4 2023
As a beginner in trading, I like this Octa Fx broker. What I like about this broker is the platform that offers easy trading for beginners. That's what makes this application superior to the others. OctaFX offers a free copy trading platform for all accounts, allowing beginners to copy trades of more successful and experienced traders for a small fee per lot.deal. I as a beginner just need to find the provider's strategy they want to follow and click "Copy". Their location will be copied automatically. The copy trading service is also user friendly and well designed. This feature is also available via the mobile app.
Jan 9 2023
Jan 9 2023
Jan 4 2023
The author said, broker Octa FX is one of the best brokers for beginners who are just learning to trade. This article explains that this broker offers quite complete educational features, there are webinars, daily trading posts, technical and fundamental market analysis, market trading strategies and there is also an economic calendar. After I compared it with several equivalent brokers, it turned out that each broker also had complete and good educational features. So, what makes the educational features in Octa Fx superior to beginners like me? If anyone knows this, please help answer, guys
Jan 4 2023
- OctaFX launches tradingtiger.pro, an online trading academy for new traders. The site offers a series of short tutorials on everything you need to know to get started - from Forex basics to market prediction methods.
- In its educational features, it also provides a collection of articles collectively known as Forex Basics.
- There are also tutorials for new MetaTrader, CopyTrading, Autochartist and CFD users, as well as video tutorials to guide traders through their first steps with MetaTrader.
These features can help those of you, as new users, to understand better about trading strategies.Apr 1 2023
When it comes to the security of your funds, OctaFX definitely seems to have it covered. They offer segregated accounts, which I'm familiar with and understand how they work. However, I'm not too sure about the negative balance protection feature, which I've heard is a sign that a broker takes the security of their clients' money seriously.
So, I'm curious to know more about the negative balance protection at OctaFX. What exactly is it, and how does it work? I would really appreciate it if someone could give me a simple explanation about this feature. Thanks a lot!
Apr 1 2023
Alright, so OctaFX seems to be all about keeping your hard-earned cash safe and sound. They offer something called negative balance protection, which I've heard is a pretty sweet deal when it comes to security.
Basically, this nifty feature kicks in if your trades go south and you end up with a negative balance in your account. OctaFX will automatically reset your balance to zero, so you don't owe them a cent.
This is especially handy when the market is being all crazy and unpredictable, and you don't want to risk losing more than you have. It's like a safety net for your trading account, and it's a good sign that OctaFX is looking out for its clients.
Apr 1 2023
Octa FX's user base seems to be quite large. On the app itself, you can see millions of people using the app. This means that there are millions of traders which is very large for a forex broker.Octa FX is only regulated by Saint Vincent and CySEC regulators but as many traders have acquired I really need to understand this.
I believe this is because the trading conditions offered are really helpful for smaller traders. The minimum deposit is from $25 and the leverage is 1:500 even small novice traders can really benefit. By the way, they have been in operation for 11 years, so they can be considered a really safe broker, even though the regulators look weak, right?
Apr 1 2023
In my opinion, seeing the fact that OctaFX has been around for a solid 11 years now, which is a pretty good sign that they're a safe and reliable broker. Even though the regulators they're working with might not be the strongest, the fact that they've been operating successfully for so long shows that they take their customers' security seriously.
All in all, OctaFX is a great option for traders who want accessibility and convenience, and their huge user base is proof that they're doing something right.
Apr 1 2023
If your trading account with OctaFX goes into negative balance despite the negative balance protection feature, the broker will absorb the loss, and you won't be responsible for any amount exceeding your account balance.
This means that OctaFX will cover the difference and ensure that your account balance remains at zero. So, you can trade with peace of mind knowing that you won't be held liable for losses that exceed your account balance, and your trading capital will be protected.
It's worth noting that negative balance protection is a standard feature offered by most reputable brokers, including OctaFX, and is intended to protect traders from excessive losses.