Trading a minimum of 1 standard lot in OctaFX could earn you a prize lot to be exchanged with various rewards. How does it work exactly?
Through its Trade and Win program, OctaFX gives traders the chance to obtain significant prizes for trading. It is calculated as 1 traded lot being equal to 1 prize lot for every closed order. The trading rewards are designed in such a way that more trading leads to more rewards for traders. To be eligible for the trading rewards, the traders must be based in any of the following countries namely Singapore, India, Pakistan, Indonesia, and Malaysia while also being a minimum age of 18 years to participate.
To be a part of the OctaFX trading rewards promotion, a trader needs to open a live trading account with OctaFX and begin trading with any of the available financial instruments offered by the broker. Therefore, opening a demo account will not work as orders on such an account will not count as live orders.
Once traders meet the eligibility criteria and become part of the promotion, they can redeem gifts at any time depending on the balance of their 'prize lots'. They do not have to worry about any limits on order duration except when it is mentioned in the Customer Agreement.
The gifts that traders can have access to will be determined by their region. The gifts could range from unique OctaFX merchandise to Android Smartphones and MacBook Laptops. They can be claimed by exchanging prize lots where for every 1 lot traded, traders receive 1 prize lot. In addition, traders can choose to be part of the OctaFX Status Program which will allow them to gain access to increased sizes of prize lots. There are three tiers in the status program that provide access to this additional benefit namely: Silver, Gold, and Platinum.
- Silver status gives traders 1.25 prize lots for every 1 lot traded.
- Gold status gives traders 1.5 prize lots for every 1 lot traded.
- Platinum status gives traders 2 prize lots for every 1 lot traded.
For traders that partake in the OctaFX Status Program, there is a possibility of having the list of gifts expanded but this depends on their region and their level of activity on the program. Traders can always find the updated list of gifts on their profiles. The major limitation of the gifts is that there is only one of each type per month for one individual.
It should be noted that the gifts and partaking in the Trade and Win promo can neither be transferred nor exchanged. However, if the offered gifts happen to be unavailable due to unforeseen circumstances, it is within the purview of the broker to offer alternative gifts of similar or higher value.
Gift vouchers or certificates (that are part of the gifts list) can only be exchanged for commodities under the terms of the issuer of the voucher or certificate. Also, gift vouchers or certificates that traders receive as parts of the promotion cannot be returned.
Delivery of Gifts
Since the traders come from multiple countries around the world, delivery of gifts is a part of the process and it usually takes a maximum of 10 weeks from the time of claiming to when it will be delivered to the trader's address. It is only the trader that claimed the gift that can receive it and the delivery address must be within the country where the Promotion is active.
Traders must ensure that they provide the right delivery address and contact details because there is no guarantee of delivery if any of those details turn out to be incorrect. Also, once the gift has been claimed, traders will be unable to change the supplied information about the delivery address and contact details which is why they must ensure that the right information is provided.
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).
Mar 21 2023
The OcatFX program seems very attractive, but in the article, it seems that the author does not give too much detail about the gifts that we can receive. I mean the author only mentions Android smartphones in Notebook. I mean these are items of great value and we as traders may want to trade at OctaFX. But I need more details about the gifts I can redeem. Can someone tell me in detail what freebies I can claim in OctaFX programs? Also, what points can I redeem for these freebies? THANK!
Mar 21 2023
Let me answer.
The gifts that can be redeemed with the points earned in the OctaFX Rewards program vary depending on the region and the current promotion. In this case, the promotion only available at the regions that mentioned in the article. The gifts may include:
But To see more detials what the available gifts and the points required to redeem them, you can just go and sign up OctaFX account and go to the Rewards page. There you can also find the terms and conditions of the program, as well as the rules for earning and redeeming points.
Mar 21 2023
"once the gift has been claimed, traders will be unable to change the supplied information about the delivery address and contact details which is why they must ensure that the right information is provided."
I think it will be not wrong information because basically to claim the gifts, you must open live trading to trade in order collect the traidng points. And to open live trading, you need to do the KYC (Know-Your-Customer) Procedure. And If you planned to claim the gifts, it really need your house address.
What if, what if when I do the KYC for half years and after that my lease term that I lived were expired, and the owner doesnt want to lease his house again. Meanwhile my address is using that address's house. What solution that I can get, because it is not my fault that suddenly the owner of the house doesnt want to lease his house again
Mar 21 2023
I understand that you're worried about what might happen if you use an address for KYC that you can no longer access. If this happens, you should contact OCTAFX's customer support team right away and explain your situation. They will likely ask you for proof of your new address, like a utility bill or bank statement, so that they can update your account information. Remember, you need to show the proof of new address.
It's really important to keep your account information accurate and up-to-date. If you don't, it could cause problems not only the gifts that sent into wrong address but also when you try to withdraw your funds or even get your account suspended. So don't forget to update your address if you move or change locations!
Mar 21 2023
Normally, you're supposed to use your permanent home address when doing KYC verification, because that proves you're a legit customer. But some brokers might let you use a leasing or temporary address too, as long as it's valid and up-to-date. Just keep in mind that using a temporary address might raise some questions, so it's better to use your permanent address if you can.
If you do end up using a leasing or temporary address, be sure to update your KYC info as soon as you move to a new address. And remember, different brokers might have different rules about using leasing or temporary addresses, so it's always a good idea to check with them directly. You can ask the OctaFX Customer support to get accurate information about your cases.
Mar 28 2023
Hey, I'm interested in the prize offered by OctaFX. I'm new to Forex and a little confused about the terms used in this kind of investment. I just read about the conditions to get the prize and I have a question about lots. Can you explain what a lot is and how many trades I need to make to claim 1.25 points as a silver status trader in OctaFX? And is the forex really risky? Because I heard many of my family warn about the forex and the risk that may occur in the trading
Mar 28 2023
In response to your question, a lot is a standardized unit used to measure the volume of a trade in Forex. The size of a lot can vary depending on the currency pair and broker you're using. In OctaFX, the standard lot size is 100,000 units of the base currency, which means that trading 1 lot could potentially earn you 1.25 points. However, it's important to note that trading 1 lot can also be risky - each 1 point change in the Forex market can result in a $10 loss or profit. Most traders tend to trade 0.01 lot to minimize the risk of loss to only $0.1 per pip. I highly recommend taking the time to fully understand what Forex trading involves and practicing with a demo account before risking your funds. Always keep in mind that Forex trading carries risks and may not be suitable for everyone."
It's important to understand that Forex trading can be a highly volatile and unpredictable market, and it's always recommended to proceed with caution and do your research before investing your funds. Using a demo account is a great way to get familiar with the platform and trading strategies without risking real money. Additionally, it's important to be aware of the risks involved and to use risk management tools such as stop-loss orders to minimize potential losses.
Mar 28 2023
Hi there! As a fellow beginner, I highly recommend using a demo account to practice your trading skills. It's also important to remember that Forex trading is risky, and focusing solely on the prize can be a dangerous strategy. Trading with 1 lot requires a large deposit, so if you don't have enough funds, it's best to start with 0.01 lot or 0.1 lot if you have more experience. As others have mentioned, it's crucial to learn about trading and risk management strategies before investing your money. Additionally, it's important to adjust your mindset and not place too much emphasis on the prize - it's not easy to win, and there are no guarantees in Forex trading.
Mar 28 2023
"Status Program which will allow them to gain access to increased sizes of prize lots. There are three tiers in the status program that provide access to this additional benefit namely: Silver, Gold, and Platinum."
The previous sentence is somewhat confusing to me. While the article discusses the points and how to earn them, it doesn't seem to mention how to calculate them. The article mentions three different tier statuses in the OctaFX Trade and Win promotion - Silver, Gold, and Platinum. The question that remains is how to achieve these statuses and earn the associated rewards?
Mar 28 2023
If you wanna get in on the OctaFX Trade and Win promotion and score some sweet rewards, you gotta know how to earn those points and reach the Silver, Gold, or Platinum status.
Basically, to earn points, you gotta trade like a boss. The amount of points you need depends on which status level you're going for - Silver, Gold, or Platinum. For example, to get Silver, you gotta earn 200 points, while Gold requires 1,000 points, and Platinum takes a whopping 5,000 points. So yeah, you gotta put in some work to get there.
So, all the start of the status is at Silver and you can leveling up with accumulate the point!
Apr 3 2023
Hey there! I'm interested in trading on OctaFX, particularly because of the many bonus programs available. Although the OctaFX Trade and Win program states that participants must be 18 years old and above, I'm still interested in live trading because I believe it's a great opportunity for me to learn about Forex, especially since I'm still young and have a lot of time to develop my skills.
However, I'm wondering if it's possible for me to do live trading on OctaFX even if I'm not yet 18 years old. Thank you for your help
Apr 3 2023
To answer your question, unfortunately, the minimum age requirement for live trading on OctaFX is also 18 years old. This means that you won't be able to do live trading on the platform until you reach the minimum age requirement. However, it's great that you're interested in learning about Forex at a young age, and you can still use this time to educate yourself about trading strategies and market trends. And I suggest that you try the demo account first because it doesn't have any age requirements, and it's a powerful tool for learning about Forex without having to risk your own money. Good Luck!
Apr 3 2023
As you know why you need to be 18 years old to trade on forex platforms like OctaFX. Well, the thing is, most countries have laws that say people under 18 can't enter into legally binding contracts. And trading on financial markets involves a lot of agreements and contracts. Plus, trading is risky business, and you need to have some maturity, financial know-how, and emotional stability to handle it. People under 18 might not have developed these things yet and could make costly mistakes. So, the age limit is there to protect you and make sure you're legally able to participate in financial transactions. So, as the above comment suggest, you can do the demo account first!
Apr 3 2023
When it comes to trading programs and rewards, I believe that safety should be the top priority for brokers. Personally, I'm interested in the programs and services offered by OctaFX, especially the OctaFX : Trade and Win. But I'm also cautious due to my past experiences with scams.
So, I have a couple of questions about OctaFX's regulation and safety measures. Specifically, I'm curious about the strength of the regulatory body overseeing OctaFX and how the company ensures the safety of my funds in case something goes wrong. I've been scammed before due to weak regulations with other brokers, so I want to make sure that OctaFX is a safe and reliable option.
I hope you don't mind me asking so many questions, but safety is really important to me. Thank you!
Apr 3 2023
OctaFX is a legit forex broker that's got the green light from different regulatory bodies such as the CySEC, FCA, and IFSC. They've got a reputation for being transparent, fair, and secure when it comes to your finances and overall trading experience. They use measures like client fund segregation, encryption, and negative balance protection to safeguard your funds. Plus, they offer various payment options that are widely trusted like Skrill, Neteller, and Visa/Mastercard.
Plus, OctaFX has been providing forex trading services since 2011, so they have over a decade of experience in the industry. They've won several awards for their services and have established a reputation for being a reliable and trustworthy broker. As the note, the length of time a company has been providing services can be a factor in establishing its reputation and trustworthiness. Since OctaFX provides for 12 years, you can say they are really trusted by many clients over the years!!