The result?

OctaFX is an award-winning company. It’s won top honors year after year. Since 2011, OctaFX won awards for both straight-through processing (STP) and electronic communications networks (ECN).

About OctaFX

OctaFX offers three different platforms for trading foreign exchanges. With OctaFX, you can trade Forex from your smartphone, laptop, or tablet and receive world-class education on the Forex global markets.

As a world-leader in Forex trading, OctaFX continues to meet and exceed client’s expectations across the globe.

Thanks to their dedication to the clients they serve, OctaFX now boasts:

With a heavy focus on education, OctaFX helps Forex traders get better results by providing detailed guides, educational trading videos, and unlimited demo training accounts. This focus on education makes OctaFX an excellent choice for new traders who need to gain experience or master key FX trading concepts.

OctaFX provides value to each customer by delivering tight spreads that produce 25% more gains and a 50% bonus on each deposit.

OctaFX offers many incentives to Forex traders, such as:

 
With their commitment to security, you can feel assured that your money and information are safe. OctaFX takes the following security precautions:

Trading Platforms

OctaFX offers three unique platforms designed for your specific needs. They are MetaTrader 4, MetaTrader 5, and cTrader. Let’s go over each platform in detail.

MetaTrader 4

The MetaTrader 4 platform is compatible with desktop, android, and apple devices. You can log in from any device to check on the status of your trades.

Its simple, yet functional design is ideal for both beginners and experienced traders. The platform allows for trading of:

Flexibility

The MetaTrader 4 allows you to trade in multiple currencies and formats. Whether you are looking to trade Forex, CBDs, or cryptocurrencies, the MetaTrader 4 gives you the tools to trade anywhere, at any time.

User-friendly

The MetaTrader 4 has a simple interface that is appropriate for traders of all skill levels. You can trade on your smartphone, tablet, or laptop. Whether you’re in your home office, or on vacation, you can access MetaTrader 4 24-hours a day.

Customization

There are many customization features, but perhaps the most beneficial and helpful is the Expert Advisor (EA). You can set your own indicators and have EA places trades automatically for you, often faster than you could do on your own.

Your dashboard and charts are customizable according to your personal preferences.

Efficiency

The MetaTrader 4 won’t slow down the performance of your computer, tablet, or smartphone. The last thing you want when making buying or selling decisions is a lag in performance. The MT4 has you covered.

Charting Tools

You can use advanced analyzing tools and charts to help you predict the markets and make trades. Charts are customizable in nine different parameters from one minute, five minutes, one hour, daily, weekly, or monthly.

In addition, you can insert different shapes on your charts, including rectangles, triangles, and ellipses to visualize patterns.

Expert Advisors

You can use the power of automated trading with machine technology to help you perform trades. It helps you take advantage of price fluctuations and be more reactive.

Languages

The MetaTrader 4 is a global trading system and therefore meets the demands of a global trading clientele. The platform is available in multiple languages to suit your needs.

MetaTrader 5

The MetaTrader 5 can take over for the MT4. It has all the functionality of its predecessor with even more capabilities. It is not only faster than the MT4 but also allows for multi-pair testing.

It has a similar interface to the MT4 so that new users will get used to the program quickly. It has a powerful function to trade not only Forex but also commodities and indexes.

What’s Different?

MetaTrader 5 can make trading simpler, easier, and more effective. With powerful tools to make quick ask/buy in just a few clicks. Additionally, Metaquotes software has increased the number of technical analysis tools and more charting options for better user support.

Here is a list of upgrades that come along with the MetaTrader 5:

CTrader

OctaFX’s CTrader offers the most comprehensive list of tools for traders. This platform targets CFD and Forex traders. It comes with 26 pre-built chart features, 50 chart templates, and offers a fully customizable interface.

Here are some of the extras that come with CTrader:

The Drawbacks of OctaFX

In doing some digging into OctaFX online, for all that OctaFX offers, there are some downsides to the platforms. Here is a list of potential drawbacks to consider before creating an account with OctaFX.

Regulations

While looking into OctaFX, it became clear that one drawback of the trading platform, regulated by a Cyprus subsidiary, is slightly unsettling. There have been several issues from other brokers regulated by Cyprus, so that’s a bit worrisome.

They also don’t take clients from the USA and Canada.

OctaFX appears to have a unique ownership structure split between two entities, Arlear Inc., registered in Estonia, and Octa Markets Inc. registered in St. Vincent and the Grenadines. One owns the website, while the other owns the brokerage firm.

While client accounts remain segregated, the ownership structure places OctaFX in a gray area. Nonetheless, no claims are ongoing against the company at this time.

Fees

While there are no commission fees, there are swap rates depending on the account. For the MT4, the price listing does list swap fees. The MT5, instead of swap fees, charges a fixed trading fee per lot, gets deducted every three days.

There also appears to be a weekly rollover fee and commission in the ECN account. There are reports of third-party deposit and withdrawal fees.

Limited Trading

According to reports, the MT4 and the CTrader platforms only allow trades for 28 currency pairs, with four commodities, ten index CDFs, and three cryptocurrencies. That is less than other brokers.

The MT5, however, does offer all assets.

If you’re on the fence with trading through OctaFX versus other brokers, you should look into these possible limitations.

The Bottom Line on OctaFX

OctaFX appears to have a ton of great features in their platforms for the beginner investor. Their commitment to education around investing is a definite plus. The opportunity to use demo investing for practice (although customary in Forex trading) is commendable.

There appear to be some gray areas concerning their fees and regulation. Hence, as with anything, it makes good financial sense to look into these issues before creating an account.
 
 
 
While they offer clients in 100 countries, the USA and Canada are not one of them. So if you live in either of these countries, you’ll have to find a different broker.

OctaFX is an award-winning Forex broker with three tremendous platforms to choose from.

Want to learn more about OctaFX? Take a closer look at the different account types to determine which one makes more sense for your trading needs.