A participant in financial markets, OctaFX provides services to traders from the Russian Federation , but does not have a version of the web resource in Russian and client technical support that is comfortable for Russian-speaking users. The list of terminals for trading includes: Metatrader 4 and 5 , web version ; cTrader ; cAlgo . Clients from China can work on the platform, but US citizens do not have this opportunity. Let’s analyze what conditions the broker provides, and are there any complaints about fraud?
What is this company – OctaFX?
For a financial start, an amount starting with 5/50/100 USD will be enough – this is information according to various sources. Possible work on ECN technology. You can count on a low floating or fixed spread from 0 pips. The final value of this indicator depends on the selected currency pair. It is allowed to carry out such operations as hedging, scalping, automatic trading.
In addition to Forex instruments, precious metals, commodities, indices, cryptocurrencies, stocks are provided.
The broker appeared 9 years ago. The parent company is registered in the islands of Saint Vincent and the Grenadines. The broker’s regulators are CySEC (Cyprus), FSA (Caribbean), FCA (Great Britain). The structure is headquartered in London. The broker is recognized as reliable in many countries of the world. To verify this, read the OctaFX reviews .
General conditions
Replenishment and withdrawal of funds are carried out to identical details – cryptocurrencies, payment systems, plastic cards. The broker does not charge a commission for these transactions, but a third party can withdraw money. For 3 hours, all requests for the withdrawal of finance are processed if they were submitted on weekdays by EET time from 06:00 to 15:00. If the submission of requests does not fit into the specified frames, then their processing will be carried out on the next business day. The threshold for withdrawing funds is minimal – $ 5. This fact has a good effect on the OctaFX rating.
For every replenishment of your account, you can receive a bonus corresponding to 10, 30 or 50 percent of the deposit.
Remuneration becomes available only after verification of the trading account and transfer of the minimum amount. The trader decides on his own what percentage he will apply for. Even if the previous bonus has not been worked out, and you have applied for a new one, you should know: working off bonuses is not limited in time and is performed sequentially.
Among the demo accounts, championships are held in which you can earn cash prizes in the equivalent of $ 100 for the last place to $ 500 for the first in the MT4 terminal. The size of the prize money can be changed at the discretion of the service company. If you work through the cTrader platform, then every week you can participate in a competition where the minimum prize is $ 25 and the maximum is $ 150. Here, too, the amounts may change if the broker decides so. But OctaFX cannot be blacklisted for this. After all, the amount of remuneration may not be reduced, but increased. Although this is an optimistic view of the existing reality.
More specific
To work with orders, you must know the following information:
- It is possible to open an OctaFX demo account.
- The maximum leverage reaches 1: 500.
- The precision of the decimal places is five.
- The support service works around the clock on weekdays. Communication channels – email, live chat, hotline calls, interaction through social networks. An indisputable plus for traders who do not speak English is the support for several languages in OctaFX on the official website.
Among the shortcomings, experts note the limited choice of local phone numbers, insufficient detail in the FAQ , the support service works only from Monday to Friday. But on the other hand, there are opportunities for free training, swaps are taken into account, fractional lots from 0.01 are allowed. Account currencies – euro and dollar.
