This broker has also been regulated by CySEC 372/18 and SVGFSA19776 IBC 2011.
Octa 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. Octa.com does not accept European clients as this market is specifically appointed to Octa.eu (regulated by CySEC).
In a show of good faith, Octa segregates all funds from the company's operating capital and offers negative balance protection to all its clients. No regulatory oversight also means that Octa can offer higher leverage and bonuses to traders, which may be attractive to some.
Extensive Review
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.