Octafx minimum withdrawal

First and foremost, octafx is regulated by one of the best institutes for the job in the world (cysec), as well as one of the shadier ones where many suspicious brokers get their licenses from- FSA SVG, making things rather ambiguous.

Free forex bonuses

OctaFX: Login, minimum deposit, withdrawal time, octafx minimum withdrawal.

MT5 strives to replace MT4 but fails to do so, not because it’s inferior but because most brokers nowadays use MT4 as the default terminal. Nevertheless, MT5 comes with new and handy features that traders will surely find useful. There are auto trading bots, plus VPS (same as MT4).

RECOMMENDED FOREX BROKERS

Octatfx has a highly informative and accessible website that aims to promote their services in layman terms. And it achieves that, yet can it can it practice what it preaches?

The broker website is operated by the following companies:

Octa markets cyprus ltd is tightly regulated by the cyprus securities and exchange commission (cysec), carrying all necessary investigations in order to ensure fraud-free market operations. As regulated by cysec, OCTAFX is part of the ICF allowing for a compensation of up to €20 000 to be attributed to clients, if the broker fails or becomes insolvent.

Octa markets incorporated is regulated by the FSA SVG in st. Vincent and the grenadines. This body’s main duties are to ensure that financial institutions are well supervised and that all threats are acted upon with the appropriate force of action. Unlike cysec, this license issuer has no reimbursement scheme to speak of. Another significant drawback is that there is no regulation dedicated to foreign exchange (forex) trading and cryptocurrency, nor are there licenses issued for these two assets:

Spreads depend on the account the client has chosen. So for the MICRO account the EUR/USD spread is 1.1 pips, for the PRO it’s 0.8-1.1 pips, and for the ECN account it’s typically 0.7-0.8 pips. We would like to remind readers that in the UK and EU the current imposed maximum spread limit is 1:30. For those outside the jurisdiction of ESMA the spread reaches 1:500.

Currently, octatfx offers the following assets to trade with: forex pairs, cryptocurrencies, commodities, stocks. In the bustling, competitive world of forex today, this number of assets is considered low.

The broker is available in the following languages: english, spanish, arabic, indonesian, thai, vietnamese, chinese, german, malay, bengali, portuguese and hindi.

Octatfx offers three platform for trade: MT4, MT5 and ctrader. What’s interesting is that each platform acts also as a separate account.

METATRADER 4

Here we are again with this renowned platform, and for a reason! MT4 stands tall against other trading terminals. Consider using expert advisors to set your automated trading while you do other business, or take full advantage of what MT4 has to offer: multiple chart management, trading directly from the chart, customized trading indicators, huge selection of trading options and much more.

The MT4 acts as the MICRO account type. So, the spread for EUR/USD 1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches 1:500 for those outside these zones.

There are no commissions attached to this account.

MT4 is available on smartphones (iphone, android), on any browser and as a standalone desktop version.

METATRADER 5

The MT5 acts as the PRO account type. So, the spread for EUR/USD 0.8-1.1 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

The are no commissions attached to this account.

MT5 is available on smartphones, on any browser and as a standalone desktop version.

The functional ctrader has been included by octafx. This platform handles with ease and possesses a much better visual style than both MT4/5. The interface is highly customizable, giving end users a much needed aesthetic touch of their own. One of the main features of ctrader is the ability for traders to access provider’s liquidity making room for better pricing and lower spreads. There is also automated trading, and great back testing facilities.

Ctrader acts as the ECN account type. So, the spread for EUR/USD 0.7-0.8 pips, while the leverage for the EU/UK is 1:30 (due to ESMA), and reaches to 1:500 for those outside these zones.

Ctrader has a commission structure attached to it. For one standard lot a round turnof $6 will be feed. So this changes the EUR/USD spread from 0.7-0.8 pips to 1.3-1.4 pips.

Ctrader is available: for download as a standalone software for desktop, to mobile users, and can be accessed via a browser.

COPYTRADING

The broker offers for the opportunity to copy expert traders, automatically, without spending time on building a strategy or being constantly glued to a screen. This is a superb opportunity for those who do not have the time, or have little of it, to dedicate to online trading. To start, just browse through the many expert traders, set your preferences, invest and voila! Note that, even if the trader dealing for you gets a bonus if your investment turns to profit, this system does not guarantee 100% wins all of the time.

OCTAFX MINIMUM DEPOSIT

The minimum deposit is $50, immediately making room for smaller or casual traders. Typically, a higher minimum deposit limit has the ability to intimidate many novice traders.

The methods for depositing are: neteller, skrill and bitcoin. In this day and age of online currency and cfds trading these options are significantly low than bar. When considering the instruments in circulation by admiral markets and, especially, FX choice, the assortment that this here broker has seems laughable in comparison.

The base currencies are limited to only EUR and USD. The same comment as above can be applied here. A global broker should include more base currencies.

All methods of funding are instant. Here, however, octafx shines, as it falls in the niche of swift deposit methods, a niche that grows ever so tighter.

There are no fees attached. Fees commissioned by thirds parties will be covered by octafx.

OCTAFX WITHDRAWAL TIME AND FEES

Cysec regulation reassures that no harm will come to clients withdrawals.

The withdrawal methods are: neteller, skrill and bitcoin. Again, significantly fewer withdrawal methods that your standard broker.

Withdrawals are instant. This is a rare sight to see in an industry of long process times, and unexpected delays.

There are no fees attached to withdrawal. Fees commissioned by thirds parties will be covered by octafx. This makes us even more agitated at the fact that octafx has not included more payment options.

The minimum withdrawal amount is $5.

BONUSES AND PROMOTIONS

Bonuses are solely offered by octatfx’s offshore entity, due to cysec banning them in europe.

There is a 50% bonus with every deposit.

The most active and successful traders will have the opportunity to win smartphones/smartwatches, as well as a 3 luxury cars at the end of the year.

There is the opportunity to win $500 while trading with your DEMO account.

Trade suing a ctrader DEMO account, and finish with the highest profit at the end of the week to get $150.

BOTTOM LINE

Second, there is a very limited number of payment methods, which in this day and age of online trading is unsatisfactory. However, there are no fees attached to said methods, and to top that the broker offers great and detailed trading platforms.

Octafx review

Octafx

Leverage: 1:30 | 1:500

Regulation: cysec

Min. Deposit: 100 EUR

HQ: SVG, cyprus

Platforms: MT5, ctrader

Found in: 2011

Octafx licenses

Octa markets cyprus ltd - authorized by cysec (cyprus) registration no. 372/18

Octa markets incorporated - authorized by the FSA (SVG)

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What is octafx?

Awards

Safe or a scam?

Leverage

Accounts

Market instruments

Fees

Deposits and withdrawals

Trading platforms

Customer support

Education

Conclusion

What is octafx?

Octafx is a technology based brokerage company that operates since 2011 and offers industry leading platforms such as metatrader5 and ctrader with numerous investment opportunities and great capabilities.

At the beginning of its establishment octafx walked a path from an offshore brand located in SVG and further on operated in the UK, however since 2017 closed its entity and moved to cyprus.

So, together with the european cysec license broker operates also a global offering from its entity, therefore check on carefully under which regulation you will fall as it may propose different trading conditions.

Pros	cons
forex and cfds offered	phone support not available 24/7
great trading tools	no forex education
MT5 and ctrader platforms offered
fast account opening and free demo account
no commission deposits and withdrawal options

What type of broker is octafx?

Octafx is an STP forex broker also with high standards of secure trading environment, as of the regulation it imposes. The offering to the clients is wide and even comprehensive since proposes the same if not more investment opportunities to the world trading community.

10 points summary

�� headquarters	broker located in SVG and cyprus
��️ regulation	cysec, FSA SVG
�� platforms	MT5, ctrader
�� instruments	cfds on commodities, forex, metals, indices and energies
�� demo account	available
�� minimum deposit	100$
�� EUR/USD spread	0.5 pips
�� base currencies	USD, EUR
�� education	available only through international entity
☎ customer support	24/5

Awards

Octafx already quite known and operates for a while despite a fact that received its european license just recently. So for the years it operates, octafx participates to various exhibitions and received numerous international awards along with the huge number of active traders registered at the company. That all in all confirm its status and reputable position in the industry, which we will also be able to see in detail further in our octafx review.

Is octafx safe or a scam?

The main issue and topic of our octafx review among others if its safe trading environment, which is checked as first due to its regulatory obligation and license under which the broker operated. Octafx launched since 2011 walked a path with various operation licenses including SVG registration, operating the UK branch, yet suspended this entity back in 2017 and target cyprus as its next destination of operation.

Pros	cons
cysec regulated international broker	previously operated only offshore entity
global coverage and years of operation
negative balance protection applied

Is octafx legit?

So, the main gap for these years of operation was the fact that octafx was a brand of the octa markets incorporated company that is registered, regulated and governed by the law of saint-vincent and the grenadines. Which is offshore heaven for its tax-management as well as relative ease to establish a company. Now, since octafx established its legal entity in cyprus and respectively got a license from the local cysec, which also impose regulation according to european ESMA standards.

Therefore, now we can state that octafx and its octa markets cyprus ltd entity shows us a clear state of the compliance to the necessary operation standards.

Since the regulation demands strict follow of forex business operations management, it is considered safe to open an account either with cyprus or international octafx entity.

How are you protected?

The set of regulatory requirements enables protection to the clients and including – funds segregation, application of negative balance protection while the broker is constantly overseen by the authority in terms of its safety compliance. In addition, there is a security of the traders’ accounts applied by the investor protection and compensation schemes in case the broker goes bankrupt.

Leverage

As for the leverage as a known instrument that increases the initial capital you trading with and can be a very useful tool to magnify potential gains is offered by the octafx broker as well. However, along with its great capabilities, leverage increases risks together with its benefits, so you should always learn how to use tools smartly.

Risk level

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well.

For this reason, world authorities and regulators restrict leverage to use to specify, safer levels for retail traders. Therefore, octafx cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that european traders or those clients that are registered with octafx european entity will fall under ESMA regulation that recently limited leverage.

Yet, if you still prefer to use high leverage international entity of octafx still allows so.

European traders leverage is maximum 1:30 for major currency pairs, 1:10 for commodities

International traders can still use leverage until 1:500

Accounts

Another important note within octafx review is a range of account types through which you will access trading. Eventually, the broker offers two account types that also define trading conditions and the platform that is used for trading itself.

Pros	cons
fast digital account opening	none
single account for metatrader5 or ctrader platforms
demo account offered
option between trading fee models

Types of accounts

As the broker defines by itself the MT5 account offered for a conservative trader as it is suitable for the majority of investors also supporting all trading styles and social trading as well. While ctrader will be more suitable for progressive traders or professionals as offers comprehensive trading conditions with commission based fee structure.

Besides, there is an option to submit for a demo practice account and use its unlimited sources to polish strategy or get to know platforms and octafx conditions better.

Yet, the international proposal includes also ECN and PRO account based on the platforms, besides micro account on metatrader4 platform is offered too. It is recommended for novice traders and allows micro lot trading with floating spreads starting at 0.4 pips or fixed spread at 2 pips.

Trading instruments

So what you can trade with octafx? The market range offers you the most demanded instrument while base on the CFD trading model and offering you an opportunity to speculate on the price movement on forex currency pairs, metals, energies and indices.

Another good point at octafx is its pricing strategy or a fee which you will need to pay for the usage of the octafx trading service. There are two options according to the account type you choose and the platform you use, offered by the octa markets.

While an international brand may offer slightly different conditions, which you may check from the site better.

Pros	cons
low forex fees	inactivity fee
options between spread only or commission fee basis
0$ withdrawal fee
micro lot trading available

Our find on CFD fees

So fee strategy is different according to the platforms while MT5 offers you spread only basis with a minimum spread of EUR USD 0.2 pips, which is a very good offering compared to industry standards.

And ctrader brings you access to raw spread from 0 pip for EUR USD pair plus the commission charge of 3$ pet lot.

Also, see below the comparison table with a typical octafx spread and compare brokers to other CFD brokers with CFD fees, commission or inactivity fee if applicable.

Trading fees of octafx vs similar brokers

asset/ pair	octafx fees	avatrade fees	etoro fees
EUR USD	0.5 pips	1.3 pips	3 pips
crude oil WTI	2 pips	3 pips	5 pips
gold	20	40	45
inactivity fee	yes	yes	yes
fee ranking	low	average	high

Here is a snapshot of octafx fees

Overnight fee

Also, always consider overnight charge or swap in case you’re holding the position longer than a day. It is always defined by the instrument you trade and may be visible either through a website or platform while trading. See the example on the snap above.

Deposits and withdrawals

Being able to access your funds at any time with ease and convenience is another point with a regulated broker and our octafx review. So together with its strict money management rules, you may fund your account by deposit through a bank account with no complication.

Pros	cons
no deposit fees	limited deposit and withdrawal option for european clients
withdrawals free of charge	no credit card supported for cyprus entity
wide range of payment methods supported by an international entity

Deposit fees and options

As a licensed broker that obliges to safety measures, octafx cyprus offers only bank wire transfer for its european clients. While international entity includes also credit cards, e-wallets and other methods which you may check with customer service before any transfer is done.

Bank wire transfer

What is also great, there is no charges for deposits so you won’t pay any commission, however always define it with your payment provider or bank itself as an international rule vary from jurisdiction to another.

Minimum deposit requirement

By the octafx policy, the minimum deposit set to a EUR100 allowing you to open any account type from the two offered by the broker.

Money withdrawal

Money withdrawal is the same smooth process, while octafx also covers fees so you may access your moany at any time and receive it relatively quickly. Usually, octafx confirms withdrawals within 1-2 business days, but allow extra days for you bank to process the transaction.

Here are the steps to withdraw money from octafx

By a simple follow of instructions, you may access your account and submit a withdrawal. And of course, you may always count on a great help center which is remaining at your assistance.

How do you withdraw money from account?

1. Login to your account. Select on withdraw funds’ at the menu tab

2. Fill in the form and enter the desired withdraw amount

3. Choose the withdrawal method

4. Complete the necessary form requirements

5. Confirm withdrawal details and submit

Trading platforms

Lastly and what we like the most is the octafx platform offering, while you may select either industry leading software also its newer version metatrader5 with all benefits included and not restricted, also with copy trading option. Or to use advanced and very powerful capabilities of ctrader platform.

The choice between the platform is always your and they are indeed very different, also bringing different price model and more suitable trading strategy. Metatrader5 is good for everyone and more trader friendly software, also copy trading available through it.

While ctrader platform is more sophisticated technology also the one that offering ECN direct market access which might be a better option for professionals. Besides, if you open an account with the international brand of octafx there is an option to use metatrader4 and operate through an account with micro lot trading option.

Scores & availability of different platforms

pros	cons
option between metatrader5 and ctrader	no education or video support for european entity, but available through international site
user friendly design
price alerts and push notifications
fee report
supporting various languages
web, mobile and desktop versions
MT4 offered only by international entity

Web trading platform

Both platforms supporting various versions that you may access either just by the load through your browser without any installation which is very useful. Metatrader will bring you all the benefits and powerful capabilities it offers, while ctrader webtrader is also featuring great design and look.

Desktop platform

However, advanced traders would prefer the desktop version as it feature much more customization capabilities and tools to use. So here both platforms also available for download and suitable for any operating system either ios or windows.

Look and feel

Both platforms are with clear look and feel, indeed ctrader is more complex to understand as it is packed with advanced tools yet the design is easy to navigate and customize.

Automated trading

Octafx automated trading capabilities are also useful for either beginning or professional trading through the use of popular eas. You may either create your own once or follow a specified strategy available through the community or in the market place.

Mobile trading platform

The mobile app is also offered for both platforms, while apps are simple to use and offer a wide range of tools at the same time. MT5 mobile offers various charting capabilities also customization which is fantastic for mobile trading along with full management of your account.

Customer service

Also, octafx customer support provides its clients with 24-hour live support available through live chat, email and phone support in various languages. Eventually, avatrade offers some of the greatest quality support with fast and reliable answers and a huge range of free of charge lines all around the world.

Education

Unfortunately, there is no education center or any learning materials about the trading process offered by cyprus entity, either octafx does not provide webinars or analytical research which is not so good for complete beginners.

However, octafx provides education and analysis through its international brand along with unlimited demo platforms allowing to practice strategies and test the offered systems. So if you’re beginning trader maybe you can see competition or participate to the course using other sources.

Yet, we can forgive this missing point to octafx as there are truly many benefits on the trading conditions they provide.

Pros	cons
free unlimited demo account available	no education videos, webinars or learning materials provided by the cyprus entity. All education and analysis tools included in the international offering
wide range of trading tools
trading ideas and social trading options
economic indicators and news feed

Research

In addition to its some of the good quality trading offerings among industry, all clients can enjoy absolutely stunning research tools and trading tools that are accessible directly through the platforms. Along with other user-friendly tools including calculator, fantastic and clear charting with built-in news feed and other essential trading data for your better trading.

Conclusion

Overall, octafx review shows us a broker with a quality trading strategy which offers also flexibility in terms of conditions, platforms and instruments it proposes.

While before we had some concerns due to its operation only through offshore entity now the trust is on a certain good level as octafx is regulated by the european cysec aligned with mifid directive. Therefore means its operation aligned to the necessary protection level through its either entity.

Read more about octafx license through our news by the link.

What we also admit is high-tech access to a range of the instrument and multiple platforms either for manual, algorithmic or social trading. It is definitely a great advantage that octafx offers both industry popular metatrader platform and powerful ctrader which is highly regarded by the professional traders.

Nevertheless, make sure to check the proposal of the particular octafx entity as an international brand and a cyprus one offers slightly different conditions. While obviously, octafx international proposal features more comprehensive tools and conditions along with education and research materials also MT4 availability.

Yet, it is always great to hear your personal opinion about octafx. So you may share your experience or thoughts or discuss them below or ask us for additional information.

Octafx minimum deposit

The octafx minimum deposit amount that octafx requires is US dollar 100.

The minimum deposit amount of US dollar 100 when registering a live account is equivalent to ZAR1,766.87 at the current exchange rate between US dollar and south african rand on the day and at the time that this article was written.

Octafx is based in SVG and cyprus and is authorized and regulated by demanding regulating entities namely cysec and FSA, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as octafx are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

Deposit fees and deposit methods

Octafx does not charge any fees when deposits are made into the trader’s account.

Traders can make use of the following payment methods through which the minimum deposit amount can be paid:

Credit/debit card

Bank wire transfer

Bitcoin

Skrill, and

Neteller

Octafx only supports two deposit currencies in which traders can fund their accounts including:

USD, and

Traders should take note that payments made in any other currency apart from the base currencies of the various accounts may be subjected to conversion rates charged by their payment provider. The base currencies are USD and EUR.

Step by step guide to deposit the minimum amount

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

Log into the client portal and select ‘deposit’

Select the deposit method along with the amount.

After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

Traders should take note that with making deposits by using bank wire transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank wire transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

Pros and cons

PROS	CONS
1. Deposit fees and withdrawal fees are not charged	1. Only a few payment options provided
2. Quick and easy depositing of funds	2. Only two supported deposit currencies

What is the minimum deposit for octafx?

How do I make a deposit and withdrawal with octafx?

You can make use of the following payment methods to deposit or withdraw funds:

Credit/debit card

Bank wire transfer

Bitcoin

Skrill, and

Neteller

Fxdailyreport.Com

Benefits of trading with small amounts and list of forex brokers with a low minimum deposit

While we would all love to have tons of money in our trading accounts, starting out with a small deposit is highly recommended to ensure you do not blow up your life savings. Trading with small amounts helps you hone your skills and prevent you from blowing up your account in the future. Other than the skill building aspect, there are also other advantages that come with trading with small amounts, including;

Experience is an important factor to consider when trading forex. Trading with small amounts allows you to gain experience while minimizing your losses. Once you have acquired enough experience, you can then proceed to use larger amounts to trade.

Trading small amounts is not just useful for novice traders. An experienced trader may also trade with small amounts when they want to try out a new trading strategy.

Reduce commissions

When trading small amounts, you are usually constricted to put the majority of your money into a single trade. This, however, helps you reduce commissions. Traders are usually more likely to be sloppy when you are going to be making 20 trades in a day. But when trading with small amounts forces traders to be more selective about the trades they take.

These traders are sure to take their time to find and trade with only the cleanest charts, with the best risk to reward. This also means they will be focusing more on perfecting their strategies as to being a jack of all trades and a master of none.

Better management of risk

When trading with a huge account, most traders usually end up using fuzzy math when evaluating risk, reward or prospective trades. This is because they are making many trades and the difference between a good risk and an almost acceptable one feels irrelevant. However, when you are trading with a small amount, you do not get room to fool around.

With a small amount, you are usually putting in all of your capital in a single trade. Hence, if you suffer a loss, it will have a significant impact on your account as a whole. Also, when dealing with a small account, your goal is towards a specific goal which is growing your accounts enough to be able to hold multiple positions at a go. Hence, any loss, no matter how small, feels like a real setback.

As a beginner trader, it is not unlikely that you will probably blow out your first account. Therefore, if you start with a small account, you will lose less, making it a smart business decision.

The trading market has a lot of information circulating every minute. This can become overwhelming, especially for a new trader who is watching a huge number of stocks, listening to the news, and trying to manage their position. This, in turn, can lead them into making bad trades, not trading anything or even having a breakdown.

One of the benefits of trading with small amounts is that you will only be managing one trade at a time. This helps remove a massive amount of stress, allowing you to focus on that particular trade. As a result, you grow accustomed to managing the stress and data of trading, allowing you to slowly increase your ability to manage more concurrent positions.

List of forex brokers with a low minimum deposits 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker

When you are just starting out trading, we highly recommend that you seek the services of reputable brokers. While low minimum deposit forex brokers seem attractive, you should be aware that many in the market are scammers. So make sure you trade with a regulated fx broker with a license. Here are our top 5 forex brokers with a low minimum deposit:

Financial brokerage services (FBS)

Octafx review

Founded in 2011, octafx provide powerful trading platforms and flexible accounts to suit all types of trader. They offer a range of forex and CFD instruments with very competitive fees and prompt customer support.

Octafx review, pros & cons

Commission free accounts

Fixed spread accounts

Octafx copytrading app

Autochartist

Negative balance protection

Hedging & scalping allowed

In this detailed octafx review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Octafx is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including octafx.

Octafx review: summary

Octafx is a multi-award-winning broker that provides traders across the globe access to trade forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies & cfds.

Octafx aim to minimise trading costs with 97.5% of orders executed without slippage through the STP (straight through processing) and ECN (electronic communications network) models implemented.

Octafx was founded in 2011 and has won over 28+ awards including best forex broker asia 2018 (global banking and finance review), best FX broker 2018 (european CEO magazine), best trading conditions 2018 (european CEO magazine), best copy trading platform 2018 (forex-awards.Com) and many more.

They aim to maintain high standards with secure trading environments and the same transparent trading conditions for every trader. Each year they are improving to try and become even more cost effective. Over 400,000 traders spanning 100+ countries have opened accounts with them.

Octafx also provide a range of trading tools and educational materials to assist with market analysis and improve your trading knowledge. There are flexible trading platforms and accounts for all levels and styles of trader.

Leverage of up to 1:500 is available and they do not charge any commissions or an overnight swap fee. Hedging, scalping and expert advisors are all supported.

Octafx review: regulation

Octafx is registered in st. Vincent and the grenadines, licensed and regulated by the financial services authority st. Vincent and the grenadines (FSA SVG). The octafx EU entity is regulated by the cyprus securities and exchange commission (cysec). They did previously hold on FCA license but closed their UK offices due to brexit and replaced it with the cysec license.

Client funds are held in segregated accounts in accordance with international regulation standards. Keeping funds separate from the company funds means that they cannot access them for any other purpose.

Octafx offers negative balance protection, so if your balance becomes negative, they will automatically adjust it to zero. The risk management system ensures that clients cannot lose more than they initially invested as risk is limited only to the funds you have deposited into your account.

Octafx review: countries

Octafx accepts clients from all over the world, excluding USA due to regulatory restrictions. Some octafx broker features and products mentioned within this octafx review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers australia, best brokers south africa, best brokers canada or our best brokers for all other countries.

Octafx review: trading platforms

Octafx offer a choice of the metatrader 4 (MT4), metatrader 5 (MT5) and ctrader platforms. These are amongst the most popular platforms available for online trading.

Octafx review: trading platforms

Metatrader 4

MT4 is ideal for new traders and more experienced traders who require a simplistic yet sophisticated platform. It has an intuitive user-friendly interface that is easy to navigate and fully customisable.

MT4 includes many built-in indicators for technical analysis and is capable of running automated systems known as expert advisors (eas). There are 9 timeframes to choose from. Multiple order types are supported with real time market execution and there is advanced risk management amongst many other useful features.

MT4 is the complete platform to get started trading online and is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: metatrader 4

Metatrader 5

MT5 has a simple interface just like its predecessor with some new features that improve the overall experience. There are more technical and fundamental indicators for chart analysis, 21 timeframes, graphical objects, support for more order types, an economic calendar and more.

MT5 is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: metatrader 5

Ctrader

Ctrader provides a convenient and feature rich environment for more flexible trading. It is also highly customisable and can be adjusted to cater to suit the needs of different traders. Other benefits include level II quotes, server trailing stop, 26 timeframes, cloud service, advanced chart trading and a FIX API for trading with direct market access.

Ctrader is available on desktop (windows / mac), web and mobile (iphone / ipad / android / tablet).

Octafx review: trading tools

Octafx have a good selection of useful trading tools that can be used for trading signals, market analysis and risk management.

Octafx review: trading tools

Octafx copytrading app

The octafx copytrading app lets you conveniently copy signals from hundreds of other traders. The app interface is very user friendly making it easy to find signal providers to follow based on your customised filters. You can build and track your portfolio at any time. There are master accounts for traders who want to offer their strategies as signals or for followers who wish to copy signals.

Octafx review: copytrading app

Autochartist

If you have at least $500 in your octafx account then you can download and install the autochartist trading signals plugin for MT4 & MT5. This tool will automatically conduct technical analysis by scanning the charts for trading signals and will alert you when it finds them. You can specify what signals you want to receive and the quality level of these signals (based on historical performance).

Alerts can be set for opening and closing trades. You can optimise your stop loss and take profit levels with the volatility analysis tool and stay informed about the latest market movements and trading opportunities with autochartist market reports.

Octafx review: autochartist

Market insights

Here you will find daily trading ideas based on complex technical and fundamental analysis across a range of different trading instruments. There are also daily and weekly forecasts that cover the financial markets in great detail. These market insights can help identify trading opportunities and assist with analysis.

Octafx review: market insights

Economic calendar

The economic calendar displays a list of up and coming financial news releases including the country and level of impact. You can also see the actual, forecast and previous results of these releases. The calendar has advanced filters to only show news that is relevant to you.

Octafx review: economic calendar

Profit calculator

The profit calculator lets you choose a trading instrument and enter the position details for a quick and easy calculation of the potential profit.

Octafx review: profit calculator

Trading calculator

The trading calculator will quickly calculate the costs for opening a position of a specific size and leverage.

Octafx review: trading calculator

Account monitoring

On the account monitoring page of the octafx website you can select an account or nickname and view its performance, charts, profits, orders and history. You may also add your own account should you wish.

Octafx review: account monitoring

Other tools

Other notable tools include widgets that clearly display live quotes, interest rates and national holidays.

Octafx review: education

Octafx provide a good range of educational materials including video tutorials, guides, faqs and a glossary. Subjects covered include the very basic lessons such as an introduction to trading and how to place a trade to the more advanced technical and fundamental analysis. The information is very easy to digest and is supported with visual representation for clarity.

Octafx review: trading instruments

Octafx offer a range of trading instruments across multiple markets including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies & cfds. They have 28+ FX currency pairs, 4 metals (including gold and silver), 2 energies, 10 indices and 3 cryptocurrencies. Leverage is available up to 1:500 for currencies, 1:200 for metals, 1:100 for energies 1:50 for indices and 1:2 for cryptocurrencies.

Indices trading

With octafx offering cfds, you can trade from 10 of the most popular indices, including dow jones, NASDAQ, nikkei and eurostoxx 50.

Octafx review: indices trading

Cryptocurrency trading

Octafx offer trading in bitcoin, ethereum and litecoin.

Octafx review: cryptocurrency trading

Commodities trading

You can diversify your portfolio with octafx offering gold, silver, crude oil and other commodities.

Octafx review: commodities trading

Octafx review: trading accounts & fees

Octafx offer 3 different main account types, the micro, pro and ECN. The account you go for may depend on the trading platforms that you wish to use, instruments you trade and minimum deposit requirements.

Islamic swap free accounts that comply with sharia law are available. You may also open a demo account to test the different trading platforms and conditions before opening a real account, should you wish.

Octafx review: accounts comparison

Micro account

This is a MT4 account that octafx recommend for novice traders with a small initial investment. Floating spreads start from 0.4 pips and there is the option of fixed spreads that start from 2 pips on selected instruments. No commission is charged on this account type and the minimum deposit required is $100. Leverage is available up to 1:500 for currencies, 1:200 for metals, 1:50 for indices and 1:2 for cryptocurrencies. You get access to trade 28 currency pairs, gold and silver, 4 indices and 3 cryptocurrencies.

Pro account

This is a MT5 account that octafx recommend for experienced traders which has the lowest spreads and less overall trading costs. Spreads are floating and start from 0.2 pips with no commission charged and a minimum deposit requirement of $500. Leverage is available up to 1:200 for currencies, 1:100 for metals, 1:50 for indices and 1:2 for cryptocurrencies. You get access to trade 28 currency pairs, 4 metals (including gold and silver), energies, 10 indices and 3 cryptocurrencies.

ECN account

This is a ctrader account that octafx recommend for the progressive trader who require more transparency in pricing. Spreads are floating and start from just 0 pips with no commission charged and a minimum deposit requirement of $100. Leverage is available up to 1:500 for currencies, 1:200 for metals. You get access to trade 28 currency pairs, gold and silver.

As broker fees can vary and change, there may be additional fees that are not listed in this octafx review. It is imperative to ensure that you check and understand all of the latest information before you open an octafx broker account for online trading.

Octafx review: customer service

Octafx’s award winning customer support team is available 24 hours a day from monday to friday. Customer support is provided via online chat, telephone and email in english, indonesian, malay, thai, hindi, urdu. Awards won include best customer service asia (global banking and finance) and best customer service broker (FX empire).

According to zendesk monthly usage reports, octafx are better than 87.1% of the industry when it comes to customer support. The average response time is just 7 seconds and the average resolution time is 3 minutes with the customer satisfaction rate at an impressive 96%.

Octafx claim only 0.7% of clients actually contact customer support as their services are usually smooth and reliable enough. However, should you need them, they are there to answer your general and technical questions in a prompt and efficient manner.

Octafx review: customer support

Octafx review: deposit & withdrawal

Octafx do no charge a commission on deposit and withdrawals. They also use the best exchange rates possible. Secure SSL encryption helps make your information confidential and inaccessible to third parties. 3-D secure technology adds an authentication step for protecting your online VISA/mastercard payments.

Funding options include wire transfer, credit card, neteller, skrill, bitcoin. Bank transfers may take a few business days to clear. Accounts can be opened in USD & EUR. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Octafx review: account opening

There is a short online form to compete after which you will need to verify your email address. Following on from that you need to email the accounts team proof of identification and residence such as a passport scan and utility bill. This is completely normal as part of the KYC procedure. Once the accounts team have verified your details you will be able to fund your account and start trading.

Octafx review: account opening

Octafx review: conclusion

Octafx provide very flexible and powerful trading platforms with accounts to suit all types of trader. The trading costs are very competitive whilst customer support is prompt to answer questions. Trading instruments may perhaps be too limited for some although the forex offering is probably adequate for most clients needs.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. A percentage of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Min $100 deposit

Founded in 2011, octafx provide powerful trading platforms and flexible accounts to suit all types of trader. They offer a range of forex & CFD instruments with very competitive fees and prompt customer support.

Octafx withdrawal tutorial for new traders

Octafx withdrawal is the process via which you can withdraw the profits you make trading with the broker. Trading forex and cfds can be very profitable. There have been cases where traders have increased their trading accounts by several digits. It all points to the possibilities that reside in forex and cfds trading and general financial trading as a whole.

However, we must point out the fact that forex trading is equally very risky. Just as you can increase your account several times, so also can you deplete it in no time. Many traders have lost the entirety of their capital in short periods. Therefore, when you make profits in the markets, you should be able to withdraw. The withdrawal process for every broker is not the same.

Here, we take you through specific information regarding withdrawing your profits with octafx.

Withdrawal methods with octafx

Octafx has an array of channels through which you can withdraw your profits from your trading account. This wide array of channels gives traders from different parts of the world access to multiple channels. Hence, the fact that some withdrawal channels are available in some countries and not in others will not be a barrier.

The methods through which you can withdraw your profits from your octafx trading account include the following:

Bank cards

One of the most recommended channels through which you can make withdrawals is debit or credit cards – especially those provided by the leading card processor, visa. Withdrawals via the bank card can be pretty quick – and they usually are credited to the bank account linked to your card.

However, we highly recommend that the card you choose must be the one you used when depositing into the account. This is to save you from a lot of complications that may arise from having multiple payment channels. We must note here that the bank card system with octafx is quite limiting. Only visa is available as the payment card on octafx and this is not good enough. Not all brokers have access to visa as a card. There are even equally popular options like mastercard.

Many other online brokers offer multiple payment channels.

Electronic or digital wallets

You can withdraw through popular E-wallets such as skrill, neteller, fasapay, amongst others.

Electronic wallets are quite fast. Within a day or so – or even in the space of a few hours – you get your withdrawal credited to your wallet. From there, you can now withdraw or convert it to cash. The number of digital wallets allowed by octafx is not really diverse enough. There can be more options that they can explore.

Bank transfer

You can also get the money withdrawn directly to your bank account. Many traders in many countries don’t have access to the bank cards and E-wallets that we discussed above. As such, they have to resort to the only option left – bank transfers. This bank transfer system, however, is very slow and can take several days on end before your money eventually gets to you.

In fact, we recommend that you don’t use this unless you have no choice.

Cryptocurrency

This is one of the best things you get from octafx. Many other forex brokers don’t offer you the option to withdraw your funds via crypto. Crypto withdrawals are quite fast. You get your money in minutes.

(risk warning: your capital can be at risk)

Steps to withdrawing from your octafx account:

First, you have to login into your trading account. From there, you then select the account you want to withdraw money from on the main screen. Then press withdraw. You will see a full list of payment options available in your region. Pick the one that suits you best and press next.

Important note:

It is very important to note that the channel through which you choose to withdraw must be one that you used in depositing trading capital into the octafx live trading account. In addition, to make withdrawals from your octafx trading account, you must have undergone a verification process to certify that you are the owner of the account. The rules that apply to trading with octafx allow you to deposit into your trading account and make trades from that account without much rigorous verification process.

However, when it is time to withdraw, your profits will not be paid to you if you do not undergo the process and get verified. This is done primarily to protect you and your capital from any potential fraudulent activity.

Octafx verification process

To get verified with octafx you need to present some documents and take some steps. Octafx requires one document proving your identity: passport, national identity card, or any other government-issued photo ID. Your name, date of birth, signature, photograph, ID issue and expiry dates and the serial number must be clearly visible. The ID must not have expired. The entire document must be photographed. Fragmented, edited, or folded documents will not be accepted.

If the issuer country differs from the country of your stay, you’ll also need to provide your residence permit or any local government-issued ID. The documents can be submitted within your personal area – that is, in your dashboard – or to support@octafx.Com.

Proof of address: octafx will also like to know if you actually reside where you claim to reside at. As a show of proof of address, you can use the signed and stamped account statement from your bank.

How long do your withdrawals take

When you request to withdraw your profits from your account, you should have an idea as to when the money will get credited to your withdrawal channel. With octafx, most withdrawals will be completed within 24 working hours. However, things can be faster; that is, you can get your money earlier than 1 business day. The tips listed below should help:

By far, the best way to get faster withdrawals anytime you request is to get the pro account. Octafx offers multiple account types that you can sign up for namely, the micro account, the ECN account, and the pro account.

The pro account offers the most perks. One key perk is that they will be given priority withdrawal. Their withdrawal request can get processed in just a few hours.

However, to enjoy all these benefits, you have to commit at least $500 as your minimum deposit amount for the pro account.

Another tip is making use of an e-wallet like skrill or neteller to make deposits and then withdrawals to your octafx account. These e-wallets work directly with octafx to provide faster transactions. Making your withdrawals via your visa card can also be very fast, although they are not as fast as the E-wallets.

Does octafx charge for withdrawals?

Octafx does not charge any amount for your withdrawals. However, the withdrawal channel (say visa or neteller/skrill/fasapay) may decide to charge some amount for rendering its services to you.

Can bonuses be withdrawn?

Whenever you make deposits into your octafx live account, you are given certain deposit bonuses; these bonuses are meant to give you extra power to make trades. You can withdraw the bonus if you made the requested turnover amount (trading volume).

What are the octafx minimum and maximum withdrawal amount?

Anytime you want to withdraw your profits from octafx, the minimum you can do at a certain time is $20. On the other hand, there is, however, no maximum.

How long does it take to withdraw money from octafx?

Withdrawals are usually processed within 24 hours. The profit can be withdrawn usually by using the same method that was used for depositing.

Conclusion on the octafx withdrawal

As a forex and cfds trader, you have to learn about the different processes on their forex and cfds journey. From how to trade to how to set your account, and more. Thus, you need some guidance. The above is one of those guides on octafx withdrawals.

(risk warning: your capital can be at risk)

Octafx review

Octafx

Leverage: 1:30 | 1:500

Regulation: cysec

Min. Deposit: 100 EUR

HQ: SVG, cyprus

Platforms: MT5, ctrader

Found in: 2011

Octafx licenses

Octa markets cyprus ltd - authorized by cysec (cyprus) registration no. 372/18

Octa markets incorporated - authorized by the FSA (SVG)

Top 3 forex brokers

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What is octafx?

Awards

Safe or a scam?

Leverage

Accounts

Market instruments

Fees

Deposits and withdrawals

Trading platforms

Customer support

Education

Conclusion

What is octafx?

At the beginning of its establishment octafx walked a path from an offshore brand located in SVG and further on operated in the UK, however since 2017 closed its entity and moved to cyprus.

Pros	cons
forex and cfds offered	phone support not available 24/7
great trading tools	no forex education
MT5 and ctrader platforms offered
fast account opening and free demo account
no commission deposits and withdrawal options

What type of broker is octafx?

10 points summary

�� headquarters	broker located in SVG and cyprus
��️ regulation	cysec, FSA SVG
�� platforms	MT5, ctrader
�� instruments	cfds on commodities, forex, metals, indices and energies
�� demo account	available
�� minimum deposit	100$
�� EUR/USD spread	0.5 pips
�� base currencies	USD, EUR
�� education	available only through international entity
☎ customer support	24/5

Awards

Is octafx safe or a scam?

Pros	cons
cysec regulated international broker	previously operated only offshore entity
global coverage and years of operation
negative balance protection applied

Is octafx legit?

Therefore, now we can state that octafx and its octa markets cyprus ltd entity shows us a clear state of the compliance to the necessary operation standards.

Since the regulation demands strict follow of forex business operations management, it is considered safe to open an account either with cyprus or international octafx entity.

How are you protected?

Leverage

Risk level

The risk level is defined also by the leverage level you use since higher leverage dramatically increases your high risk to lose money as well.

Yet, if you still prefer to use high leverage international entity of octafx still allows so.

European traders leverage is maximum 1:30 for major currency pairs, 1:10 for commodities

International traders can still use leverage until 1:500

Accounts

Pros	cons
fast digital account opening	none
single account for metatrader5 or ctrader platforms
demo account offered
option between trading fee models

Types of accounts

Besides, there is an option to submit for a demo practice account and use its unlimited sources to polish strategy or get to know platforms and octafx conditions better.

Trading instruments

While an international brand may offer slightly different conditions, which you may check from the site better.

Pros	cons
low forex fees	inactivity fee
options between spread only or commission fee basis
0$ withdrawal fee
micro lot trading available

Our find on CFD fees

And ctrader brings you access to raw spread from 0 pip for EUR USD pair plus the commission charge of 3$ pet lot.

Also, see below the comparison table with a typical octafx spread and compare brokers to other CFD brokers with CFD fees, commission or inactivity fee if applicable.

Trading fees of octafx vs similar brokers

asset/ pair	octafx fees	avatrade fees	etoro fees
EUR USD	0.5 pips	1.3 pips	3 pips
crude oil WTI	2 pips	3 pips	5 pips
gold	20	40	45
inactivity fee	yes	yes	yes
fee ranking	low	average	high

Here is a snapshot of octafx fees

Overnight fee

Deposits and withdrawals

Pros	cons
no deposit fees	limited deposit and withdrawal option for european clients
withdrawals free of charge	no credit card supported for cyprus entity
wide range of payment methods supported by an international entity

Deposit fees and options

Bank wire transfer

Minimum deposit requirement

By the octafx policy, the minimum deposit set to a EUR100 allowing you to open any account type from the two offered by the broker.

Money withdrawal

Here are the steps to withdraw money from octafx

By a simple follow of instructions, you may access your account and submit a withdrawal. And of course, you may always count on a great help center which is remaining at your assistance.

How do you withdraw money from account?

1. Login to your account. Select on withdraw funds’ at the menu tab

2. Fill in the form and enter the desired withdraw amount

3. Choose the withdrawal method

4. Complete the necessary form requirements

5. Confirm withdrawal details and submit

Trading platforms

Scores & availability of different platforms

pros	cons
option between metatrader5 and ctrader	no education or video support for european entity, but available through international site
user friendly design
price alerts and push notifications
fee report
supporting various languages
web, mobile and desktop versions
MT4 offered only by international entity

Web trading platform

Desktop platform

Look and feel

Both platforms are with clear look and feel, indeed ctrader is more complex to understand as it is packed with advanced tools yet the design is easy to navigate and customize.

Automated trading

Mobile trading platform

Customer service

Education

Yet, we can forgive this missing point to octafx as there are truly many benefits on the trading conditions they provide.

Pros	cons
free unlimited demo account available	no education videos, webinars or learning materials provided by the cyprus entity. All education and analysis tools included in the international offering
wide range of trading tools
trading ideas and social trading options
economic indicators and news feed

Research

Conclusion

Overall, octafx review shows us a broker with a quality trading strategy which offers also flexibility in terms of conditions, platforms and instruments it proposes.

Read more about octafx license through our news by the link.

Yet, it is always great to hear your personal opinion about octafx. So you may share your experience or thoughts or discuss them below or ask us for additional information.

So, let's see, what was the most valuable thing of this article: octafx: login, minimum deposit, withdrawal time? RECOMMENDED FOREX BROKERS octatfx has a highly informative and accessible website that aims to promote their services in layman terms. And at octafx minimum withdrawal