OctaFX

Company Information

OctaFX has been established since 2011 with a head office in St. Vincent and the Grenadines. It has been operating primarily out of Jakarta, although primarily it was incorporated in St. Vincent and the Grenadines. Now it has developed a strong client base in the Asia-Pacific region. OctaFX does, however, cover the global markets, serves customers in over 100 countries, and also has offices in Spain, Cyprus, and Malaysia. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Markets

OctaFX offers over 40 different instruments to trade, including over 28 currency pairs. Generally, you can choose among those assets classes with this broker:

Trading accounts

OctaFX suggests its clients three account types with different trading platform. You can open a Micro account, which uses MT4, and is recommended for a novice trader, as it supports small investments. This is also the most popular type. Second, is a Pro account, which is recommended mostly for an experienced trader for lowest spreads and less trading costs. It uses MT5 platform. And the last one is ECN account, which is recommended for progressive trader, as it stands for more transparency in pricing. It uses cTrader platform.

MICRO

• Floating spreads from 0.4 pips
• Fixed spreads from 2 pips
• Leverage – up to 1:500
• No commission, markup
• Recommended deposit – 100$
• Min deposit – 5$

PRO

• Floating spreads from 0.2 pips
• No fixed spreads
• Leverage – up to 1:500
• No commission, markup
• Recommended deposit – 100$
• Min deposit – 5$

ECN

• Floating spreads from 0 pips
• No fixed spreads
• Leverage – up to 1:500
• No commission, markup
• Recommended deposit – 100$
• Min deposit – 50$

Open an account

Opening an account with OctaFX is an easy process. To complete the registration of an account at this broker you should submit the basic documents like some verification of a person and an address. Once you have completed all the above steps you will have access to a live trading account.

Minimum deposit

You can open an account with a minimum deposit of only 5$ at a Micro account, and 50$ – at both a Pro and a ECN accounts.

Trading Platforms

OctaFX suggests its clients very popular platforms, like MetaTrader 4 and its updated version MetaTrader 5. You can also choose another platform, namely cTrader. You can read more about the difference among the abovementioned platforms here.

Our verdict

After thorough research, we can make such conclusions. OctaFX is a regulated broker by FSA, however, it is not regulated by FCA. From among its account offerings, including MT4 and cTrader platforms, theMT5 Pro account stands out but still trails industry leaders in terms of low-cost forex trading and range of markets. In total, OctaFX offers less than 50 tradeable symbols. Taking into account its experience over 9 years in online trading, it earned a solid reputation and is rather respectable among its clients. Also, the minimum deposit is only 5$. But pay attention to the fact, that the broker offers only 40 trading tools. So set your priorities first, and be ready to trade.