Our trust rating takes into account a range of factors that influence a brokers reliability and reputation, These factors include how the broker is regulated, whether they use segregated bank accounts, their years in business, banking tiers, customer support offered, and much more.
British broker OctaFx is rapidly becoming one of the leading providers of Forex and CFDs trading both in the UK and abroad. Based in London, this broker is regulated by the Financial Conduct Authority (FCA), which ensures the professionally of their work.
A number of fee-free options to deposit and withdraw funds are possible including bank transfers, VISA/Mastercard, Neteller, Skrill, Fasapay and internal transfer. You can open a micro account with as little as $5 and you get a 50% bonus on each deposit.
The highest leverage you can take on your positions is 1:500 and you can trade with micro lots. You will able to trade Forex pairs and Metals on the Metatrader 4 and cTrader platforms within your browser or with apps for desktop PCs, android phones, and iPhone. OctaFx is an ECN broker and there is an option to open an Islamic account with them.
MetaTrader 4, Metatrader 4 for PC, Metatrader 4 for iOS, Metatrader 4 for Android, cTrader, cT Desktop, cT iOS, cT Android, cT Web-based client
Apple - Yes, Android - Yes
With OctaFx you will be in for a real treat because they don’t charge any commissions or fees, no matter how much or how little you choose to trade. Also, you will trade with one the smallest spreads around, further lowering your costs. Typical spreads for liquid Forex pairs like EUR/USD and GBP/USD is around 0.6 pips.
Good risk management tools like guaranteed stop loss orders and guaranteed limit orders will be at your disposal as well as placing trailing stops. You can also use one click trading if you find it more convenient. OctaFx will send you price alerts if you request it and they provide automated trading possibilities. In this regard, you are completely allowed to use expert advisors on your account. And, if for some reason you need, hedging is also allowed.
More advanced traders should keep in mind that this broker doesn’t offer the use of virtual private servers. Although they are an ECN broker they don’t provide direct market access or straight through processing. Also, it should be noted that OctaFx doesn’t offer fixed spreads and all spreads are variable.