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OctaFX Review

  • Regulated by: Unregulated
  • Safety: segregates client funds
  • Trust Rating: D
Open OctaFX's Website

Losses can exceed deposits. Your capital is at risk.

OctaFX offer one way to trade: Forex.

To open a live account, you’ll need a minimum deposit of at least $5. Alternatively, OctaFX offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by . OctaFX puts all client funds in a segregated bank account and uses tier-1 banks for this. OctaFX have been established since 2011, and have a head office in St. Vincent and the Grenadines.

Before we dive into some of the more detailed aspects of OctaFX’s spreads, fees, platforms and trading features, you may want to open OctaFX‘s website in a new tab by clicking the button below in order to see the latest information directly from OctaFX.

Open a demo account Visit OctaFX

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

PROS

  • Segeregates client funds
  • Established in 2011
  • Regulated by Unregulated
  • Min. deposit from $ 5

CONS

What are OctaFX's spreads & fees?

The spreads displayed below are based on the minimum spreads listed on OctaFX’s website. The colour bars show how competitive OctaFX’s spreads are in comparison to other popular brokers featured on BrokerNotes.

OctaFX fixed spread is not available. If you believe this is incorrect please fill in our form

OctaFX variable spread is not available. If you believe this is incorrect please fill in our form

See all Spreads

Example: How much would it cost to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) at an exchange rate of 1.1719 and then sell it the next day at the same price you could expect these fees:

OctaFX AvaTrade Plus500
Spread from: $0.00 $7.00 $6.00
Typical overnight fee: $0.00 $5.00 $9.40
Commission: 0 0 0
Total cost of a 100k trade: $0 $12 $15.4
+$12.00 more +$15.40 more
Visit OctaFX Visit AvaTrade Visit Plus500

All fees/prices are for informational purposes and are subject to change. Last updated: 17/11/2017.

General Fees

  • OctaFX doesn't charge inactivity fees
  • OctaFX doesn't charge withdrawal fees

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • the roll over fee for long positions on EUR/USD is $
  • the roll over fee for short positions on EUR/USD is $Not available

Commissions

  • OctaFX doesn't charge commission on CFD shares

What instruments can you trade with OctaFX?

FX / Currencies OctaFX AvaTrade Plus500
# of forex pairs offered 59 61
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs OctaFX AvaTrade Plus500
# of commodities offered 16 17
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs OctaFX AvaTrade Plus500
# of Stocks offered 99 1816
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See OctaFX's Instruments See AvaTrade's Instruments See Plus500's Instruments

What's the OctaFX trading experience like?

1) Platforms and apps

OctaFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.OctaFX is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

OctaFX Screenshot See OctaFX's Platforms

OctaFX also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you‘re on the move.

See OctaFX's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

OctaFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. OctaFX allow you to execute a maxium trade of 10 Lot.As OctaFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, OctaFX offer margin up to 2.12% on currencies.

Finally, we‘ve listed some of the popular funding methods that OctaFX offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller

3) Client support

OctaFX support a limited number including English

OctaFX have a BrokerNotes A support rating because OctaFX offer over three languages and email and phone support.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.octafx.co.uk/ on November 21, 2017.