Octa Trading App Review for Beginners

#Broker Insights #app #beginners #mobile app #octa #octafx #review #trading app Bookmark Vote for Octa

By Kyla Yocelyn
Published: Dec 21, 2022
Last Updated: May 10, 2024

Octa 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 Trading App

Octa is one of the trusted global brokers through that supports online trading at a low cost. Octa 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.

Octa 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 Octa trading app for Android and iOS. Let's take a closer look and decide whether the Octa app is right and safe.

Octa 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:

Octa provides an unconditional swap-free feature and the basic experience of the MetaTrader platform with low spreads starting from 0.6 pips.

See Also:
Your Guide to Grow a Small Account from OctaFX

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What Can Be Traded on the Octa App?

Octa 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).

OctaFX Instruments

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.

Which instruments do you tade?

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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 Octa application.

The difference between Octa'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.

See Also:
Which Account Type is Best in OctaFX?

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Other Features

The Octa 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 Octa 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.

Market Analysis

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, Octa also adds a "Webinar" feature to enhance your trading knowledge and understanding via recorded live trading sessions.

Promotions and Bonuses

Octa 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.

OctaFX Bonus

In my opinion, this is a good feature because Octa gives its traders appreciation to increase their motivation for trading. In addition, Octa provides a special "affiliate link" program for users who can invite friends.

See Also:
How to Open CFD Account on Octa

Deposit and Withdrawal

Octa 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, Octa 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.

OctaFX Deposit and Withdrawal

For withdrawals, Octa 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 Octa deposits and withdrawals is fairly fast compared to other brokers which could take a few days, especially in withdrawals.

See Also:
Octa Recap in 2023: A Performance Review

Final Verdict

Octa is a good broker and can be accessed even on the go for trading by providing 2 MetaTrader accounts namely MT4 and MT5. Octa 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.

What do you think are Octa broker's best values?

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).

Kyla Yocelyn

I have learned the important things in forex trading. I think knowledge of fundamental and technical analysis is enough for profitable forex trading. But during my journey as a trader, controlling emotions in trading is also very important so as to avoid making hasty decisions.

21 Comments

Steven

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

Mourinho

Jan 9 2023

Steven: I disagree with your statement about the leverage, although it is your experience and maybe your trading and my trading method will be different. So, in my opinion about the leverage at OCtaFX is actually is enough. What's the point of higher leverage if you can't use it very well. I mean to avoid overtrade, some forex practicer even suggesting that you're leverage is at level 1:100 or 1:200 for safe trading. Although the leverage can help you to entry more trading, it is also can be the reason of many traders do the overtrading and it is not good for newbie. Meanwhile about the trading instrument, I agree with you. There are no many choices for us to trade with especially CFD, but for some major and cross pairs, I think the OctaFX actually very complete

Taylor

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.

Clara

Jan 4 2023

Taylor: I've been diving for 2 years. And yes, I think the world of trading is very fun because you can make money. I like brokers that provide copy trading services in their system. I want to help answer this question. Although I have never traded at this broker. But I have a hobby of analyzing trading accounts. And yes... actually it is for my own interests so that I choose the wrong broker for trading. OctaFX has a good reputation, but is only regulated by a single tier 2 regulator: CySEC in Europe. There are actually some countries that can only trade under a St. Petersburg registered subsidiary of Octa Markets Incorporated. Vincent and the Grenadines FSA. The SVG FSA is not a regulator and does not supervise trading or protect traders.

Darrel

Jan 4 2023

Taylor: Hello, bro, I want to help answer your confusion. I am one of the traders at Octa FX. Well, even though I just joined, it's been almost 2 months. I am interested in this broker because of the pretty good copy trading platform in this application. OctaFX does have a good reputation and its operations in Europe are overseen by one of the best regulators in the article. In my opinion, OctaFX provides good security for its clients. This broker sells all funds from the company's operating capital, and offers negative balance protection to all of its clients. The absence of regulatory oversight also means that OctaFX can offer higher leverage and bonuses to Indonesian traders, which may be an attractive offer to some. I think this broker is pretty good and safe for you to trade. But remember, before trading, don't make a hasty decision.

GabrielI

Jan 4 2023

Darrel: agree with your answer. I have been trading for 2 years. I like the copy trading platform offered by this broker. And yeah, I think the security features at this broker are pretty good, yeah, it's on par with other brokers. Although OctaFX operates without a regulator, it remains an International Business Company (IBC) registered in Saint Vincent and the Grenadines with registration number 19776 IBC 2011. OctaFX has served clients from over 100 countries for over ten years. OctaFX is quite well known and has been in operation for quite a while, although it recently received a European license. Therefore, over the years of its existence, OctaFX participated in various exhibitions and, together with a large number of traders who are actively registered with the company, received several international awards. All declared their respected status and position in the industry.

Wendels

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.

Jackson

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.

Nicholas

Jan 9 2023

Jackson: I agree with you. For me, beginners or new traders with no trading experience can start trading with OctaFX. In other words, the specs are very simple and there are not many choices. An ordinary account of MT4 for FX trading and MT5 for virtual currency trading. Leverage is 1:500 and its spread is variable. It is very simple and easy to understand for beginners, active trader who only get profit from Forex also suit with OctaFX's trading condition, but for experts and experienced traders who want to trade other instruments like CFDs, OctaFX is not a good choice as it only offers 10 CFDs.

Stella

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?

Darrel

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.

Create an account with an email address and password, or it can also be automated with Google and Facebook accounts.
Fill in personal information (among other things name, country of residence, email address, and date of birth).
choose your preferred account type (MT4 or MT5), real or demo account, leverage, and account base currency. After this step, you can make a deposit using the method provided. And start trading.
Traders are only required to submit verification documents to OctaFX when they wish to withdraw funds. These required documents include proof of identity and proof of address.

It is recommended to view the OctaFX Risk Agreement Statement, Client, Terms, and Conditions before starting trading.

Cleo

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.

Logan

Jan 9 2023

Cleo: What is copy trading? Sorry, I'm a newbie and know nothing about the world of trading. So you said you only did a copy trade, did you profit from it or could you lose somein the copy trade? Many peoples said that forex needs to be experienced before getting profit with forex. So, do with this copy trading, I can skip learning forex?

Joana

Jan 9 2023

Logan: Copy trades are only copies of other traders' trades. Can it generate profit? Of course! You copy other traders' trades, so if the traders you follow are profitable, so are you. Also, if they loss, you lose too. But to follow them, you realize that you need to check the fees and commissions earned. Basically, the traders you follow are the ed traders. They share the trade and receive a reciprocal commission because it benefits you. In other words, profits decrease. Copy trading for me means learning how to trade. This is not meant to imitate trading and No need to learn forex. Learn about leverage, spreads and commissions that also help with money management. Remember that you need funds to start a copy trade and the trade may not match the capital requirements.

Stella

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

Darrel

Jan 4 2023

Stella: I'll help you answer, friend... In my opinion, the educational materials available at OctaFX are more comprehensive and in-depth than those available at other brokers, so they are suitable for all traders, both beginners and experienced ones. A lot of education offered by this broker namely

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.

Alda

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!

Roflan

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.

Andreas

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?

Hans

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.

Wilson

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.

Min Deposit	:	$25
Established	:	2011
Location	:
Regulation	:	×CySEC (Cyprus) 372/18 More Info ×SVGFSA (Saint Vincent and the Grenadines) 19776 IBC 2011
Leverage	:	1: 500

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