When you want to be a trader and the time comes to take the first step, your choice of broker matters big time. You want to make sure your broker cares about you in addition to making money for its own company. There should be enough attraction in the form of leverages, bonuses, etc. to make trading easy and less risky for you. One broker that achieves that earns the respect for caring about its traders is OctaFX. Let’s take a look at what makes OctaFX such a nice broker for the traders
An Overview of OctaFX
OctaFX has been providing its traders with trading platforms and CFD trading since 2011. The company has achieved a lot in these seven years. According to them, they want to make trading affordable for the traders. Hence, you will see them having promotions that most other traders don’t offer. To date, nearly one million traders have opened accounts on OctaFX and have completed more than 250 million trades. OctaFX offers trading to traders from 100 countries around the world and is considered among the reputable brokers for winning a couple of dozen awards for its services.
The Best Features of OctaFX
First, you can trade cryptocurrencies, stocks, commodities and other forms of CFDs using the broker’s platform. More importantly, they have made multiple platforms available for the traders so they can trade the way that pleases them. You can use the broker’s own application or the famous MetaTrader 4. They also have MetaTrade 5 and CTrader to meet the requirements of a wide range of audience from around the world. The availability of Islamic trading account is a great plus, and it also makes sense because the broker mainly covers the Asian market.
Traders can use local banks to deposit their funds, get negative balance protection, and enjoy various bonuses to control bigger trades than what they can with only their account balance. Last but not least, they don’t charge you any commissions on your trades. They make money from the spreads.
Biggest Benefits of Trading with OctaFX
The first big benefit is the availability of various CFDs, stocks, cryptocurrencies, and commodities. You don’t have to trade a financial instrument that seems difficult to you. They have tight spreads and based on that, the broker claims that you can make about 25% more trading with it than you would with other brokers. There are leverages of up to 1:50 available for you to control big trades. Most importantly they have this amazing 50% deposit bonus for their traders. If you qualify for this promotion, you will get a bonus of 50% of your deposit from OctaFX every time you make a deposit in your account.
They have MT4 available for novice traders and MT5 for experts traders .Those who want to trade on the go has access to OctaFX’s own mobile application that’s available on Android. They also have a very detailed training section for new traders that included written ebook, tutorials, and video training. Of course, new traders can start with a demo account to practice before they step into the real world of trading. With the basic account, you can start with OctaFX with a small deposit of just 100USD. They are a perfect option for those who want to benefit from the trades of professional traders due to the availability of copy trading.
You have access to up to 28 currency pairs with any account. There are three cryptocurrencies available for trading, four indices, and silver and gold available for micro account holders. Those trading as experienced traders on MT5 have access to some more indices, metals, energies, etc. They offer leverage on all types of financial instruments such as cryptocurrencies, metals, indices, and currencies. The biggest leverages are available on currencies i.e. up to 1:500. Last but not least, they have a scooter giveaway for their traders every week.
Deposit and Withdrawal with OctaFX
The first thing you will like about their deposits and withdrawals is that they charge no commission on them. They have partnered with some local banks like HBL and UBL to allow Asian traders to deposit funds in their accounts. Other payment options include Bitcoin, Skrill, Neteller, and Visa and Mastercard credit cards. The minimum deposit can be as small as 5USD when you deposit your funds using Visa or Mastercard. For e-payment options, you will have to deposit a minimum of 50USD.
Their website has SSL protection to ensure everyone who provides personal details has the peace of mind. They also have additional security and verification steps in their signup process to ensure every trader is a real trader.
Just like deposits, you can withdraw using the methods stated above. The best thing is that you can withdraw a minimum of 5USD, which is something you don’t usually see other brokers doing.
OctaFX Customer Support
Their customer support is there to answer your queries 24/5. The fastest way to get your questions answered is using the live chat feature on the website. Since they claim to claim they care about traders, they have made themselves available on Whatsapp as well. If you are not in a hurry, you can also use their website form to send queries about whatever problems you are facing. They do have Indonesian, Hong Kong, and UK phone numbers available on their website.
Overall Rating of OctaFX
Here is how we have rated OctaFX based on its services, customer support, and ease of trading.
- Trading Instruments – 4/5
- Withdrawals/deposits – 4/5
- Customer Support – 5/5
- Mobile Trading – 5/5
- Overall Rating – 4/5
OctaFX stays true to its promise of caring about its traders and offering them an affordable trading platform. The broker definitely has a lot of promotions for its traders and the 50% bonus is a novelty offering you don’t usually see any broker offering. They cater to the needs of Islamic traders, offer multiple trading platforms, and pace with the modern needs by offering an intuitive Android app for trading. Overall, OctaFX is a recommendable broker for trading online.