Regulation: FSA Accepts US Clients: No Min. Deposit: $5 Leverage: 500:1 Platforms: Metatrader 4 for PC, Metatrader 4 for iOS, Metatrader 4 for Android, Metatrader 4 Mobile   Overall Rating: 3.7 / 5   (Based on 17 User Reviews)
 

OCTAFX Review

 

OctaFX Video Review

OctaFx Review

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A new breed of online Forex broker, OctaFX is an award winning ECN/STP broker that is based in Saint Vincent and the Grenadines. This broker was acknowledged by Global Banking and Finance Review, an online portal dedicated to covering development in the international financial community, as the fastest growing micro broker in 2012. No doubt, the rapid growth of this broker could be attributed to the high quality services which the broker is providing its clients with. OctaFX recognizes that its clients is it most valuable asset and hence strive for perfection. “Perfectionism in its best sense, professionalism and goal-orientation is what distinguishes the OctaFX team”, said the CEO of the parent company, Octa Markets Incorporated.

Trading Platforms

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OctaFX main trading platform is the industry standard MetaTrader 4 (MT4). Highly customizable and stable, the trading platform is fully equipped with various technical tools designed to make the trader’s job in analyzing the market easier. The MT4 trading platform is also available for mobiles devices like iPhones, Android and Window Powered mobile devices.

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All features of the standard version of MT4 trading platform is also available on the mobile version.

Account Types
There are two main types of trading account provided by OctaFX, Micro and ECN trading accounts.

Micro Trading Accounts:

•    12 currency pairs + Gold and Silver
•    5 Digits Quotes
•    Expert Advisors and Scalping allowed
•    Leverage level is up to 1:500
•    Margin Call Level is 25%
•    Require a minimum of $5 deposit to open
•    Stop Out Level is 15%

ECN Trading Accounts:

•    Require a minimum deposit of $50
•    28 currency pairs + Gold and Silver
•    5 Digits Quotes
•    Expert Advisors and Scalping allowed
•    Leverage level is up to 1:500
•    Margin Call Level is 25%
•    Require a minimum of $5 deposit to open
•    Stop Out Level is 15%

Commission & Spreads
The spreads that OctaFX charges are floating and they all start from 0.2 pips regardless of the type of trading account.  

Customer Support
OctaFX have always pride itself with a high quality support team that is always within the reach of traders 24/5. To get in touch with the support team, traders can either do it through:

•    Live Chat
•    Filling in the online Contact form
•    Email at support@OctaFX.com
•    Phone:  4001-200970 (China)
1-800-815-304 (Malaysia)
+17844574224 (St. Vincent and the Grenadines)

As OctaFX is main clientele base is from China and South East Asia, multi-lingual support is available in the following languages:

•    Bahasa Indonesia/Malaysia
•    Mandarin

Reliability
In terms of reliability, OctaFX have always made this one of its priority. Some of the measures that they have in place include:

Accounts Segregation
OctaFX keeps its corporate funds separate from the clients’ trading funds. This is in accordance to international regulations and accounting standard.

SSL Data Encryption
Personal Data and online financial transactions are protection by encryption with SSL encryption technology.

Account Verification Protocols
All trading accounts have to go through a stringent verification process.

Secured withdrawal
All withdrawal requires an email confirmation thus preventing unauthorized withdrawal by a third party.

3D Secure Technology For Credit/Debit Card Transaction
3D secure technology is used to process all transaction from Visa and MasterCard to ensure the integrity of the transaction.

Security Engineer Team
The backoffice of OctaFX technical environment is monitored 24/7 by a team of security engineers to ensure top level protection.

Pros
The advantages of dealing with OctaFX are numerous. They include:

•    Attractive Promo Offers
•    Demo Account
•    Fast Reliable Executions
•    Free Market Analysis
•    High Quality Customer Support
•    Low Minimum Deposit Requirement
•    Provide Ecn Trading Facility
•    Stable And Reliable Trading Platform
•    True ECN/STP Services

Cons
Although just a micro broker, OctaFX have managed to cover practically every aspect of their clients’ needs. So far, I can’t seem to find anything wrong with this broker.

Conclusion
To conclude, the award that OctaFX is well deserved. Despite being a new broker on the Forex trading scene, they have managed the hearts and minds of many of their clients with the effort and dedication that they put into providing top notch services to their clients. For those who are in the market for a reliable and efficient forex broker, OctaFX certainly come highly recommended.

 

OCTAFX User Reviews


Very Tight Spreads

The spreads which they offer is one of the tightest I seen so far



Pros:Low transaction cost with the tight spreads offered

Cons: Got nothing to complain yet

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
5
 

OctaFX Best Forex Broker

I had try this broker since March 2013 till now. I noticed that this Broker is very polite and very past execution,



Pros:Fast withdraw

Cons: Cannot withdraw directly to Debit/Credit Card

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
5
 

My Review

I love to trade with OctaFX, as they have the best trading platform cTrader, where i am able to trade smoothly with all my trading orders executed instantly without any frustrating quotes happening, so even if i try trading in news like NFP it is successful and also my long term problem of needing to remember the session where i am trading is solved, as it is now written below on the platform which makes it great for me. So i would give them 10/10 marks!



Pros:Everything!

Cons: Nothing!

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
5
 

Very Fast Execution

Trade execution is virtually instantaneous



Pros:True STP Broker with instant trade execution

Cons: Very pleased with their services

Ease of Access
 
5
Platform Performance
 
5
Reliability
 
5
Customer Support
 
4
Payouts Percentage
 
5
4.8
 

Professional Broker

I really like the professionalism that they show to me



Pros:Professional and Reliable Broker

Cons: This is a really good broker even though they are new

Ease of Access
 
5
Platform Performance
 
4
Reliability
 
5
Customer Support
 
5
Payouts Percentage
 
5
4.8
 
See all 17 user reviews

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