The economic calendar, pip calculator, and other tools are integrated within the app, while the web version contains links directing users to external pages. The “Space” section allows users to see posts on various topics directly on the web, but the configuration for the topics is set in the mobile app. A few minutes after submitting the withdrawal, we received a confirmation email. At that point, we could see our withdrawal status as “pending” in the dashboard.

A trader working with a broker entity regulated offshore would not necessarily have these benefits. OctaFX is a secure trading platform with competitive spreads and no hidden fees. You will get additional money to increase your margin if you activate the bonus. But first of all, you can not pay out the bonus, you can only use it to make more profit.

How to Open and Close an OctaFX Account

Although variable spreads are offered in these trade markets, a higher spread may be transmitted depending on the number of customers. You can compare it to the initial or general trading of the stock market. But here, the average of the spreads is calculated as 0.4 pip in Forex.

Are the OctaFX bonuses withdrawable?

Another program offered by Octa is a tiered loyalty program (without fees), where traders advance through categories based on their account balance, gaining access to benefits and rewards. The Octa Status Program allows traders to unlock various benefits based on their trading account balance. Benefits include lower spreads, faster transfer and withdrawal times, access to personal account experts, and various rewards based on their trading activity. For every standard lot traded, you earn prize lots, which can be redeemed for items like T-shirts, gadgets, or even a MacBook. Higher account statuses (Silver, Gold, Platinum) help you earn prize lots faster. To keep your prize lots active, you must trade at least once every 30 days.

• You can win up to a $1000 prize in the demo or Champion contest by efficiently trading with your demo account.
• OctaFX runs various promotions for new and existing clients, including deposit bonuses, trading contests, and seasonal offers.
• The options mirrored those available for deposits, although, as expected, the only method available for withdrawals was the one we used for depositing funds.
• As a trader, you will find a range of features available at OctaFX to suit your needs.

Platform choice ultimately comes down to personal preference, but Octa has signalled its intent by offering its clients the choice of two market-leading platforms. Octa offers 5 crypto markets like bitcoin, ethereum and litecoin — this is a limited range. On the upside, those markets that are available are traded using the MetaTrader platforms, so at least the quality of service is guaranteed to be high. During our testing, we found the internet browser offered the best route into all the ‘extras’, such as copy trading, that Octa offers its clients. Being able to still engage with the full range of services from smaller screens is a real plus-point for the service.

Is there a minimum withdrawal amount with OctaFX?

• According to a member on Reddit, OctaFX occupies the security commission’s list of platforms to avoid.
• Consider your trading needs, strategies, and risk tolerance levels.
• This assessment delivers a transparent evaluation of Octa’s trading conditions, tools, support, regulatory standing, and overall suitability for traders.

The deposit methods available to you when trading with OctaFX will depend on where you live, but wire transfers, major credit/debit cards, and eWallets such as Skrill are typically available worldwide. This account type is a great starter account, though at the moment is not available to EU traders. OctaFX offers a great demo account that is easy to sign up for, just needing the most basic of your personal information and an email address. The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account.

OCTA Customer Support Test

Still, we don’t recommend you open trades without careful analysis and applying tactics to reduce the risk. These tactics include the responsible usage of leverage, using the stop loss function, and keeping an eye on your trading volumes. According to our research, OctaFX has earned a reputation as a reliable participant in the forex brokerage industry. Numerous traders have praised OctaFX’s commitment to providing an efficient trading environment. OctaFX provides an exclusive cashback rebate scheme for UAE traders, allowing them to recoup some of their trading costs.

After selecting this option, we entered the amount, wallet address, and a security PIN (sent via email during the account setup with Octa). The request was completed in under a minute and did not require sending an email or notifying customer service. During certain events, Octa offers a bonus where you can claim up to a 100% deposit bonus. One question that arises during the review is what happens with the bonus (credit) if the account balance falls below zero. In such cases, if the account balance turned negative, the credit from the bonus would be automatically cancelled, preventing the account from going negative.

There is also a dedicated VPS (Virtual Private Server) for ‘algo’ traders. OctaFX provides well in terms of language choice to traders, though there is a clear focus on the Asian market when it comes to available languages. The OctaFX Champion offer is a contest run by the broker whereby you can open a demo account and trade for 4 weeks. Ultimately this means you will have access to an extensive range of tools and indicators depending on your platform choice. There are a total of 51 charting indicators provided, and 31 drawing tools also.

Upgrading to a live account requires a bit more leg-work but is by no means arduous. Payment options include VISA, AWEpay, bitcoin, FasaPay, local bank deposits, local bank transfers, Neteller, Paytm, Skrill, UnionPay. Crypto markets are only supported on accounts that use the MetaTrader platforms. Its OctaFX.eu arm is regulated by CySec (Cyprus Securities and Exchange Commission) and has offices worldwide. The firm has a strong foothold in the Asian market through its offering an outstanding trade execution service that appeals to traders from all corners of the world.

This XS.com review explores the broker’s regulations, fees, deposit & withdrawal methods, account verification requirements, safety measures, spread, and leverage. It also outlines how to open an account and start trading on the investment platform. On OctaFx, customers can withdraw funds from their trading accounts using the same ways they deposited. To withdraw funds, customers’ free margin has to exceed the withdrawal amount, then they have to complete the verification process and get their accounts verified.

The program offers an opportunity to earn reward points that allow upgrading account status and unlocking exclusive benefits. Complete training in financial markets such as “Forex,” “Stock Market,” and “Cryptocurrencies” only becomes comprehensive with tested trading tools and strategies. “Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning. The training programs are designed based on tools for traders of all levels, from octafx broker reviews “beginner to advanced.” The floating spreads for currency pairs involving the yen ranged from 1.9 to 2.6 pips, while major pairs (excluding EUR/USD) average around 1.5 pips.

This initiative boosts trader motivation and offers tangible incentives along their journey toward prosperity. It has several entities around the world and provides services by industry standards. Octa Markets Ltd serves its clients in the Americas and other parts of the world and is regulated by the Mwali International Services Authority (MISA) in the Comoros. This regulation does not provide significant protection for consumers. On the positive side, it allows Octa greater flexibility in leverage and instruments while still serving clients from around the globe. The dashboard includes a “Monitoring” area where users can view and share their performance, charts, profits, orders, and history with others.

The platform allows users to trade forex, cryptocurrencies, indices, and commodities on some of the most popular trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. OctaFX is particularly known for its low fees, competitive spreads, and user-friendly platform. To show their commitment to mobile trading, OctaFX offers users a bonus on all first-time deposits made through the trading app.

OCTA Maximum Leverage by Asset Class

If you do not provide your full name and email address, the account will not be created. The OctaFX broker has several licenses, which bring some great benefits for traders. OctaFX Holding plc is regulated by CySEC (EU), which can give you maximum benefits. There is a huge potential for limited independent business without any leverage.