Rbi Cautions Against 34 Unauthorised Forex Trading Platforms

Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The demo account features live quotes and simulates https://forexreviewdaily.com/octafx/ live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch over to a live account.

  • An added advantage is that cTrader is available for mobile trading apps as well.
  • Traders can benefit from low trading costs, with tight spreads in fx, no inactivity fees, no swap fees, and no deposit/withdrawal fees.
  • Therefore, traders looking for the best fees in addition to more tradable instruments should consider the MT5 pro account.
  • However, this offers a range of new features all packed into it neatly.
  • We do understand that waiting could be really frustrating and will make sure to improve our payment system to avoid such delays in the future.

We rate OctaFX as better than the industry average in research. In order to achieve your trading goals, you need to choose the right account. We evaluate each broker’s account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account. You may discover that octa fx com there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker. In our tests, we received rapid responses, and the agents were helpful and attentive. Despite the lack of phone support, we had a good experience overall.

Octa Fx Review

We sincerely hope that your funds have reached you for now, but if not, or you have other questions, please get in touch with us at or social media, and we’ll be happy to help you. Upon reviewing your case with our team, we’ve found that our Monitoring team placed your account under investigation after a suspicion that our Customer Agreement had been infringed. The grounds for suspicion of an infringement rely on the information provided in our policies. Our team decided to discontinue offering you our services after the investigation results came out. Your refund was processed on August 12, and we hope your funds have arrived by now.

OctaFX forex broker

The results proved the use of arbitrage – the only trading strategy we don’t allow at OctaFX. Please read OctaFX Reviews below and share live trading experiences with this broker. See how OctaFX compares to the leading Forex brokers by reading one of the reviews below. If you need some oxtafx com support outside of the hours or would prefer to get a quick answer yourself then there is an FAQ’s page with a range of relevant questions and answers. Though, if possible, seen as the team is so quick and efficient you might be better off just reaching out to them first thing.

Our Recommended Forex Brokers

Terms and conditions apply, and I recommend traders read and understand them before participating. OctaFX offers 24/7 customer support, primarily via live chat, with fast response https://www.investopedia.com/articles/forex/11/why-trade-forex.asp times. Email support is also available, and the FAQ section answers many of the most common questions. I only found a phone number missing from the overall support offer.

Traders may open MT4/MT5 demo accounts at OctaFX, and there is no time limit on active accounts. The MT4 demo account will expire after eight days with no trading activity Forex and the MT5 demo account after 30 days. The flexibility of MT4/MT5 allows traders to select their deposits and leverage, creating more realistic demo results.

OctaFX forex broker

The core mission of OctaFX is to ensure clients get a genuine and profitable experience. Moreover, OctaFX offers a 50% direct deposit bonus, a profitable loyalty program, and accelerated deposits and withdrawing funds. OctaFX offers mt4, mt5 and other trading platforms for trading CFDs on stocks. Beginner traders will benefit from well-through-out research tools and educational services. To learn more, please speak to an account manager or customer service representative.

Octafx Account Opening Process

The firm has a good basis for its research offering due to the fact it offers a bit of all main content types including some from third party providers. We would advise you to stick to the web-based version for more advanced options and a better experience. They take suggestions into account and seem to have acted on the suggestion numerous times.

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Overall, OctaFX has low spreads when compared with similar brokers. Most major forex pairs have spreads close to zero, particularly on the ECN account. From this Wallet, you can transfer it to any of your trading accounts. OctaFX clients can also monitor manster traders activity in real-time, compare strategies with octa fx other traders and sign up quickly and easily. OctaFX provides twenty-eight currency pairs, 3 cryptocurrency CFDs, and CFDs on 4 metals, 2 energies, ten of the most popular indices, adding to 47 instruments in total. The firm is committed to ensuring customers needs are met and prioritizes customer satisfaction.

Overall, OctaFX’s mobile trading support is good when compared to other brokers, with the MT4 and MT5 mobile versions available, in addition to the OctaFX trading app. However, OctaFX’s trading app is only available on Android devices. The app also lets you manage any bonuses or contest accounts you have open with OctaFX. Overall, we liked how user-friendly the app is, and its simple design will appeal to beginner traders. We were impressed to find that OctaFX offers a good range of funding methods, and deposits and withdrawals are free and fast.

An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. OctaFX also provides platform tutorials videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade. In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you’re looking for and what you can trade. MetaTrader 4 allows users to develop, test, and apply Expert Advisors . EAs are programs that monitor and trade markets using algorithms.

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