Octafx wikipedia
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Octafx wikipedia
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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 review
Review
Octafx, a broker in operation since 2011 out of st. Vincent and the grenadines, serves over 1,500,000 traders from more than 100 countries; they report that order execution exceeded 288,000,000. This market maker deploys a straight-through processing (STP) model and offers traders the choice of the MT4, MT5, and ctrader trading platforms. New retail traders from emerging markets are a primary focus, and generous bonuses fulfill an essential role in growing the client base, with over $2,840,000 in bonus funds paid out to date. Octafx maintains a highly competitive cost structure with a commission-free EUR/USD spread of just 0.4 pips. The broker supports social trading via octafx copytrading and autochartist pro supports manual traders.
| ��️ headquarter | UK |
| ⚖️ regulations | SEBI |
| �� type of broker | ECN/STP |
| �� minimum deposit | $50 |
| �� maximum leverage | 1:500 |
| �� type of platform | metatrader 4, metatrader 5, ctrader |
| �� deposit with credit card | yes |
| �� depositing with wire transfer | no |
| �� demo account provided | yes |
| ��️ instruments traded | cfds, commodities, metals, oil, gold, indices |
Regulation and security
Octafx operates out of st. Vincent and the grenadines, where registration of octa markets incorporated exists with the financial services authority (SVGFSA). It is important to note that while the FSA is responsible for policing international business companies (ibcs), it does not regulate forex brokers. Therefore, octafx remains effectively unregulated; that in itself does not suggest malpractice or fraudulent activity by this broker. Octafx has expanded its operations since 2011, testament to its trader-friendly operations. In fact, more than 1,500,000 traders trust octafx, which should be taken into consideration when evaluating octafx.
Negative balance protection, the segregation of client deposits from corporate funds, and compliance with anti-money laundering (AML) directives enhance the security of traders. From this octafx review we can see that this broker does attempt to strike a balance between offering security as an unregulated entity and operating out of a business-friendly jurisdiction that allows it to execute its successful business model.
Octafx operates out of st. Vincent and the grenadines.
Negative balance protection exists, ensuring traders cannot lose more than they deposit.
Client deposits remain segregated from corporate funds.
Octafx fees
Octafx charges a combination of spreads, commissions, and swap rates. While the overall cost structure is extremely competitive, it is a bit complicated. To make things easier, we'll simplify it all in this ocatfx review. The MT4 micro account commences with a commission-free 0.4 pips minimum mark-up on the EUR/USD, which ranks among the best available offers in today’s industry. Swap rates apply, and islamic accounts face an equal cost, only labeled differently; the islamic account structure complies with sharia law. While the MT5 pro account continues with a similar minimum pricing environment, the current spread is significantly higher. A fixed three-day fixed cost applies, but no swap rates exist. Then there is the ctrader account, where the current mark-up is lower than in the MT5 but higher than in the MT4. The commission of $3 per lot is outstanding, and a fixed weekly rollover fee applies, again without daily swap rates.
Octafx does not levy charges for deposits, withdrawals, and currency conversions. No additional costs exist, making octafx one of the least costly brokers to trade with, fulfilling its mission statement of creating a low-cost broker for new traders and professionals alike.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
- Right-click on the desired symbol in the market watch window and select symbols.
- Select the desired currency and then click on properties located on the right side.
- Scroll down until you see swap long and swap short.
The commission-free MT4 account lists a minimum spread of just 0.4 pips.
The MT5 account comes with a fixed rollover cost which is deducted every three days.
The ctrader account offers a very competitive commission of $3 per lot, but spreads are higher than in the MT4 alternative.
Islamic accounts face fixed costs equal to swap rates.
The overall pricing environment is low, benefiting traders.
What can I trade
Octafx offers 28 currency pairs, four commodities, ten index cfds, and three cryptocurrency pairs, traders have limited choices. As far as we could see during this octafx review, the complete availability of assets remains confined to the MT5 account; the MT4 account features fewer assets, and ctrader offers the least. As such, cross-asset diversification is would be difficult, but it's possible to overlook this if you're a new trader and a solid cost structure is important to you.
Octafx maintains 45 assets in total.
Account types
Octafx maintains three account types. The broker claims the MT4 micro is the most common choice and confirms its popularity among new retail traders from emerging and frontier markets. With a minimum deposit of $100, traders have access to 39 assets with a maximum leverage of 1:500. The MT5 pro account offers all 45 trading instruments but requires a $500 deposit, with increased margin requirements. Both choices are commission-free. The commission-based ctrader account is available for just $100. It features the least number of assets with 30, but the maximum leverage is 1:500, unlike 1:200 in the MT5 account. Hedging and scalping face no restrictions in either choice.
Traders may choose from among three account types.
Islamic accounts are a cornerstone at octafx and are high in demand. While swap rates do not apply, fixed costs exist.
Octafx trading platforms
Traders may choose from the three leading trading platforms in the forex market. The market-favorite MT4, with over 20,000 third-party customized technical indicators and electronic advisors (eas), many free of charge, remains the most flexible version. MT4 maintains its leadership position for automated trading, the fastest-growing sector of the financial system. Traders must invest in necessary upgrades to unlock the complete functionality of MT4 and transform it into a competitive, cutting-edge version. Octafx also offers the MT5 trading platform, which remains the only one where all assets are available for trading. The best out-of-the-box alternative is ctrader, designed for trading via the electronic communications network (ECN).
All three platforms support automated trading and are available as a desktop client, a webtrader, and a mobile version. Autochartist pro enhances the MT4/MT5 trading platforms, granting traders one of the most widely used automated chart pattern recognition software. Social trading support exists via octafx copytrading, which allows traders without the time to manage their portfolios to diversify across strategies from one user-friendly platform.
MT4 maintains its leadership position among retail trading platforms.
Octafx traders who wish to trade all 45 assets must do so on the MT5.
The ctrader platform offers the best out-of-the-box trading experience.
Octafx copytrading supports the resurging popularity of social trading.
Unique features
There are three unique features worth noting.
Autochartist pro offers manual traders an excellent automated trading assistant. It is available only to clients who achieve silver status and above. Information about what is required to achieve this status appears to be available only to registered traders from inside their back-office.
Since 2017, octafx has revamped and improved its educational portal. It is supported via weekly and monthly demo contests, which allows new traders to earn between $500 and $1,000 in real cash, which is then deposited into a live trading account. Traders should enter trading contests at their own risk while understanding they may not win.
The octafx copytrading platform allows so-called master traders to earn an additional revenue stream from their strategy. It is ideal for those traders with smaller portfolios to leverage their income potential. Professional traders interested in tapping into the social trading scene will also benefit from it. Traders can create multiple master accounts for different strategies, and the freedom to adjust commissions adds to the flexibility.
Autochartist pro is an excellent trading tool available at octafx.
Demo contests with real cash prizes appeal to new retail traders.
Master traders can boost their income potential at octafx via the octafx copytrading platform.
Research and education
Octafx grants traders a comprehensive analytics section under trader’s tools. It consists of eleven sub-categories and a user-friendly design. Besides trading signals from autochartist, traders will discover in-house research and market commentary published by octafx under market insights, forex news, and technical analysis. They are updated frequently, consist of written content and charts, and represents a quality addition to the products available at this broker. A quick overview of market-related events exists under the economic calendar, interest rates, and national holidays. The profit and trading calculators allow traders to manage their trading strategy before placing trades. Overall, with the revamped research and education portal, octafx delivers a genuine auxiliary trading service.
The trader’s tools section features eleven sub-categories, which combine for quality service, especially for new retail traders.
Octafx updates three sections several times throughout the day, with trading ideas and market commentary.
Education at octafx consists of nineteen topics under forex basics. They consist of quality written content, charts, and some include numerous videos. While often brief, the content has educational value and offers new retail traders an excellent introduction to trading. The tutorials section focuses on octafx-specific guides, and video tutorials cover MT4/MT5, the personal area of octafx, and octafx copytrading. An FAQ section and a glossary aim to answer the most common questions and introduce terminology. Traders may access the manuals to obtain more specific assistance regarding the three trading platforms, related tools and services, and autochartist. Webinars hosted by octafx complete a well-rounded educational portal.
Octafx delivers a well-rounded educational portal.
Webinars add value, and new traders should take advantage of them.
Customer support
Customer support is available 24/7 and is best reached via live chat or telegram. A webform is equally accessible, and traders may alternatively call. Octafx ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.
Bonuses and promotions
Bonuses and promotions remain an essential part of the octafx strategy, and traders have access to various offers. The 50% withdrawable bonus on each deposit represents an excellent offer for traders to build their portfolio through a series of monthly deposits, while two demo contests award real cash. The trade & win incentive rewards clients for trading activity with various prizes.
The withdrawable 50% bonus on each deposit represents the best offer at octafx.
Trade & win is another excellent reward program based on trading volume.
A four-tier status program grants additional improvements to the trading environment.
Traders can use the four-week MT4 demo account to win cash.
Smaller cash prizes await in the one-week ECN demo contest.
Octafx also hosts a 16 car global trading contest.
Opening an account
An online application form processes new accounts, and traders may use their facebook or google account to complete the process. Account verification is mandatory to comply with AML/KYC requirements. A copy of the trader's ID and one proof of residency document will satisfy this final step.
The account opening process complies with industry standards.
Deposits and withdrawals
Octafx supports credit/debit cards, skrill, neteller, and bitcoin. While the selection remains limited, it is suitable for most traders. No deposit or withdrawal fees exist from octafx, but third-party costs may apply. The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet.
Octafx offers a limited but acceptable choice for payment processing.
Octafx help
If you are looking for octafx help you’ve come to the right place. We have 12 tutorials & chords about octafx help including images, pictures, photos, wallpapers, and more. In these page, we also have variety of tutorial videos available. Such as chords, tabs, etc.
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Currency pair correlations - forex trading
Understanding price relationships between various currency pairs allows you to get a more in-depth look at how to develop high-probability forex trading strategies. Awareness of currency correlation can help to reduce risk, improve hedging, and diversify trading instruments. In this article, we will introduce you to forex trading using intermarket correlations.
Meaning of currency pairs correlation in forex
Correlation is a statistical measure of the relationship between two trading assets. Currency correlation shows the extent to which two currency pairs have moved in the same, opposite, or completely random directions within a particular period.
Analysis of two asset relationships using past statistical data has predictive value. By utilising the correlation coefficient, we can understand the relationship between two values and help manage risk. The coefficient is measured in decimal form from -1 to +1.
- A correlation of +1 shows that two currency pairs will move in the same direction 100% of the time. That is a perfect positive correlation. The correlation between EUR/USD and GBP/USD is a good example—if EUR/USD is trading up, then GBP/USD will also move in the same direction.
- A correlation of -1 indicates that two currency pairs will move in the opposite direction 100% of the time. EUR/USD and USD/CHF have a perfect negative correlation, thus if EUR/USD moves upwards, then USD/CHF goes downwards.
- A correlation of zero takes place if the relationship between currency pairs is completely random, which means they have no link at all.
Naturally, the stronger a positive or negative correlation, the higher a predictive value is drawn from the analysis. More extended time frames used for a technical analysis display more precise information compared to relationships over one minute, which have a little value. Monthly and yearly data generally provide the most reliable insight.
Impact of currency correlations on forex trading
- They can form a basis of a statistically high probability forex trading strategy.
- They can illustrate the amount of risk you are exposed to within your forex trading account. For example, if you have bought several currency pairs with a strong positive correlation, then you are exposed to higher directional risk.
- You can avoid positions that effectively cancel each other out. EUR/USD and USD/CHF have a powerful negative correlation. If you have a directional bias, buying both EUR/USD and USD/CHF will counteract the moves in each pair.
- Understanding correlations can allow you to hedge or diversify your exposure to the forex market.
- If you have a directional bias for a given currency, you can spread your risk using two strongly positive correlated pairs, in terms of diversification.
- If you are looking to hedge a position (holding it with low risk of losses) you can take a position in a negatively correlated pair. If you were to initiate a ‘long buy’ for EUR/USD, and it begins to move in an unfavourable direction, you can then hedge your position by purchasing a currency pair that has a negative correlation to EUR/USD, like USD/CHF.
Forex trading strategies based on correlation
- When two pairs are highly correlated, one can serve as a leading indicator of the price movement of the other. If you see a sharp move in one of the two positively correlated pairs, you can anticipate a probable move in the other.
Correlation can be even a more powerful forex tool for analysis in conjunction with other forex indicators. For instance, if one pair breaks out above or below a significant technical level of support or resistance, the closely positively correlated pair has a high probability of the following risk.
If you notice two negatively correlated currency pairs and a significant upward price reversal in one pair takes place, then you can anticipate a potential downward reversal in the other pair. This is a price reversal.
Wait for an abnormal divergence between two highly correlated currency pairs and buy one and sell the other, with the expectation that they will converge in price movement again. This is a non-directional arbitrage exploiting currency correlations.
Highly correlated currency pairs in forex
Examples of strong positive correlations (yearly time frame):
Examples of strong negative correlations (yearly time frame):
Commodities that are correlated with currencies
The canadian dollar and crude oil have a positive correlation because canada is a significant oil producer and exporter.
Similarly, the australian dollar and gold have a positive correlation because australia is a significant gold producer and exporter. Both gold and the japanese yen are viewed as safe havens in times of uncertainty, and these two are also positively correlated.
Meanwhile, gold and the U.S. Dollar typically have a negative correlation.
When the U.S. Dollar starts to lose its value amid rising inflation, investors seek alternative stores of value such as gold.
Currency correlations change in forex
Be aware that currency correlations are continually changing over time due to various economic and political factors. These often include diverging monetary policies, commodity prices, changes in central banks’ policies, and more. Given that strong correlations can change over time, it highlights the importance of staying up to date in shifting currency relationships. We recommend checking long-term correlations to acquire a more in-depth perspective.
All in all, currency correlations could be a powerful tool you can use to develop high-probability trading strategies. You'll also be aided in risk management, mainly if you track the correlation coefficients over daily, weekly, monthly and yearly timeframes.
Octafx review, updated for 2021
Octafx guide вђ“ read our in-depth octafx review
This octafx review has been updated for 2021 by industry experts with years of financial experience in forex, cfds, & social trading.
Please note that due to regulations, the content in this octafx review does not apply to US users.
This octafx review contains the latest information about octafx.
If you're a new entrant in the realm of trading and brokerage, so many facts will be confusing for you. Getting into the area of trading demands expert assessing skills and thorough knowledge. You'll acquire adept at all the concepts of broker as you keep trading. For starters, you have to select the right agent who will be clear with you always.
Within this fast-paced world of stock markets and trading, you will need guidance to make correct decisions. A professionally lead investment plan will create hefty returns. Octafx is one such stage that will take you and your investment into great heights. It's crucial that you understand all about octafx before you trust them with your money.
Our full octafx review covers all you will need to learn about trading with octafx. A good agent can multiply your initial investments and provide you positive profits. If you would like to make profits, you should trade with a broker service that contrasts with your investment objectives.
There's absolutely no sure-fire way to guarantee profits; thus, you must carefully assess your agent before you choose them. It's a frequent misconception that all brokers will be exactly the same, but that is not correct. Wrong judgment, in the beginning, can set your investments in danger.
Octafx is a broker which has paved its way successfully into the broker world. In this review, we've tried to collate some of the vital facets of octafx. This review will help you to understand whether octafx is a good match for your own investments or not. We have tried to breakdown all the qualities and fees for your advantage.
Octafx review, table of contents
- Who are octafx?
- Benefits of trading with octafx
- Everything you should know about trading with octafx
- Is octafx safe to trade with?
- Pro's & con's of trading with octafx?
- Compare brokers similar to octafx
- Regulation and licencing in more detail
- Octafx awards
- Minimum deposit required for A live account with octafx
- Octafx commission and fees explained
- Compare broker fees against octafx
- Octafx withdrawal fees explained
- Octafx deposit fees explained
- Compare broker deposit methods
- What can you trade with octafx?
- Alternatives to octafx
- Frequently asked questions about octafx
Who are octafx?
Octafx is a foreign exchange broker headquartered in st. Vincent and the grenadines and provides a range of tools for online trading. Since its start in 2011, octafx has emerged as a top-tier player in the field of online brokerage. Octafx has a highly competitive and full-featured trading site that's focused on forex, indices, metals, stocks and commodities.
Over the past 10 years, octafx has grown into one of the leading online brokers.
After launching in 2011, their client base is becoming as big as 30,000+ clients.
Octafx is a favorite for many dealers because of its negative balance protection. Our octafx review found that they are an excellent alternative for automated trading solutions. It's most appropriate for investors who are searching for a variety of assets. Social and automated trading solutions are the heart at octafx.
Technology plays a significant role in octafx. Octafx features trading on MT4, MT5, web trader, ctrader, tablet & mobile apps. Octafx is honest, transparent, and also a well-regulated agent by the financial conduct authority (FCA). Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The trader resource section at octafx is quite insightful for new traders as it permits them to have a closer look at the financial markets. Octafx caters to all types of traders and are a must-have broker for any well-diversified method of trading.
Benefits of trading with octafx?
Trading with octafx includes numerous benefits. These benefits are what sets octafx ahead of all other online agents. You should check all the benefits listed so you have a better understanding of octafx.
The broker goes to great lengths to understand what dealers want. Consequently, the support cost is low, quick, and convenient. The broker also provides a number of platforms for all types of traders. Octafx ensures that the individual needs of all traders are completely met.
Octafx also features excellent trading conditions which are readily available to only an elite group of institutional customers. The tight spreads and quick executions are a fantastic advantage for those traders. The technology adopted by octafx is of the highest caliber, ensuring that it is fast, reliable, and efficient.
Octafx admits the significance of owning a fast order execution. A fast implementation enables users to exchange without worrying about slippage safely. It is going to also aid the dealers to grab the utmost profitable opportunities.
Automated trading is another important facet of octafx. A new trader can learn from industry experts using the automated trading option. The tight spread begins from as low as 0.0 pips, though they are offered for only razor balances.
Octafx has over trading instruments to support all kinds of traders. These tools are lively and convenient for both new and experienced traders. The dealers can set aside all their concerns when trading with octafx.
Octafx overview
Year founded: 2011
Regulated by: financial conduct authority (FCA)
Hedquarters: st. Vincent and the grenadines
Minimum deposit: $5
Number of clients: 30,000+
Losses can exceed deposits
If you feel that octafx is not right for you then at the bottom of this octafx review you wil find a lot of alternatives to octafx.
Everything you ought to know about trading using octafx
Octafx is a lively platform that provides various techniques of online trading. These tools cover the monetary markets considerably. The majority of the broker platforms offer less approaches than octafx
If you would like to exchange with octafx, you will require a minimum deposit of $5. This deposit is mandatory if you want to begin trading using octafx. This 2021 octafx review will guide you easily about trading with them.
Octafx is as flexible as another broker platform. Octafx is ideal for traders that want a manageable selection of low-cost services. The programs supplied by octafx are third-party, white-label offerings. All traders may choose out of MT4, MT5, web trader, ctrader, tablet & mobile apps.
Along with everything, octafx has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade must be kept open. The agents offer premium customer service which rewards customers with advantages.
Many less reputable brokers attempt to pressurise customers into larger funding for premium services. Octafx, on the other hand, is more concentrated on trading volume. Dealers can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the more benefits will come along.
Octafx accounts are available globally and provides outstanding service everywhere they have customers. There are only a select few countries where octafx accounts are not available. Traders in the following countries cannot open or use a octafx account:
Is octafx safe to trade with?
Established in 2006, octafx has been open for 10 years, they are headquarted in st. Vincent and the grenadines.
Octafx is regulated by financial conduct authority (FCA). These figures have rules that make sure that trading platforms have ploicies in place to keep investor's resources procured. This usually means that octafx users do not need to be worried about their money since it is segregated and safely stored in banks that are established. SSL encryption secures every user's personal information also.
You are able to make use of an option for 2 factor authentications (2FA) with octafx for heightened security. An SMS for the verification code will be sent to a phone. You will be asked to input this code to log in to your accounts.
Another concern with financial brokers is in regards to security might be manipulation of trading. This is highly disadvantageous to consumers on these platforms. However, this is much more prevalent in the case of market maker brokers who compete with customers on the platform.
Pro's & con's of trading with octafx
Every online trading platform has a few ups and downs, and no octafx review would be complete without having a balanced approach. This octafx review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Octafx pro's
Octafx is trusted by 30,000+ clients
Octafx offers negative balance protection
Octafx offers guaranteed stop loss
Octafx doesn't charge withdrawal fees
Octafx doesn't charge inactivity fees
Octafx doesn't charge deposit fees
Octafx doesn't charge CFD fees
Octafx offer trading on MT4, MT5, web trader, ctrader, tablet & mobile apps
Octafx offer trading instruments
Octafx trades major forex pairs
Octafx can communicate in english
Octafx con's
Octafx doesn't trade minor forex pairs
Octafx doesn't trade exotic forex pairs
Octafx doesn't offer trading on cryptocurrencies
Octafx review - compare brokers similar to octafx
| octafx | teletrade | HYCM | plus500 | |
|---|---|---|---|---|
| rating | 4/5 | 4/5 | 4/5 | 4/5 |
| minimum deposit | $5 | $100 | $100 | $100 |
| year founded | 2011 | 2008 | 1977 | 2008 |
| headquarters | st. Vincent and the grenadines | cyprus | UK | israel |
| regulated by | financial conduct authority (FCA) | cyprus securities and exchange commission (cysec), the markets in financial instruments directive (mifid) | financial conduct authority (FCA), FCA reference number 186171, cyprus securities and exchange commission (cysec), cysec license number 259/14, cayman islands monetary authority (CIMA), CIMA reference number 1442313, dubai financial services authority (DFSA), DFSA license number 000048 | plus500uk ltd authorized & regulated by the FCA (#509909), plus500cy ltd authorized & regulated by cysec (#250/14), plus500au pty ltd (ACN 153301681), ASIC in australia AFSL #417727, FMA in new zealand, FSP #486026 and authorised financial services provider in south africa FSP #47546 |
| clients | 30,000+ | 50,000+ | 10,000+ | 15,500+ |
| find out more | ||||
| risk warning | losses can exceed deposits | your capital is at risk | losses can exceed deposits | 76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money. |
Octafx review - regulation and licencing in more detail
Octafx is regulated by financial conduct authority (FCA).
Octafx, as a company, has a strong collection of rules for ensuring fair trading onto its own platform. For data encryption functions, it provides an industry-standard secure socket layer (SSL).
In accordance with the organization's privacy regulations, client data is to not be shared with some other institutions or individuals. This includes credit history and other financial information.
Octafx review - awards
Octafx review - minimum deposit required
The minimum deposit that you must deposit to get started on octafx is $5. This is an adequate amount for people just starting out. You can make more advanced residue as you cooperate. However, make certain you understand how to make the most of your cash before investing in larger amounts.
Octafx review - commission and fees explained
Octafx is an online broker platform, and most online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled much better. In other words, an online broker isn't necessarily affected by the number of customers they have.
But this doesn't mean that online brokers don't charge any fees. They charge fees of varying rates for various services to make money. There are primarily three different types of fees for this purpose.
The first sort of fees to keep an eye out for are trading fees. When you make a genuine trade, like purchasing a stock or an ETF, you are billed trading charges. In such cases, you're spending a spread, financing speed, or even a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the other hand, a spread denotes the gap between the buying and selling price. Financing or overnight rates are people that are billed when you hold a leveraged position for longer than a day.
Apart from trading fees, online agents also bill non-trading fees. These are dependent on the activities you undertake on your accounts. They are billed for surgeries like depositing cash, not trading for long periods, or withdrawals.
In general, octafx doesn't charge high fees compared to other online agents. For operations other agents charge for, they either do not charge a broker fee, or they charge a smaller sum. This can be beneficial for people who regularly exchange, for example weekly or daily trading.
However, non-trading fees charged by octafx are relatively greater. As a result, you're billed more for non-trading actions in your trading accounts, such as withdrawal and deposits. These aren't about the sale and purchase of assets.
This octafx review breaks down each of the relevant non-trading fees for you in detail.
Compare broker fees against octafx
| octafx | teletrade | HYCM | plus500 | |
|---|---|---|---|---|
| minimum deposit | $5 | $100 | $100 | $100 |
| withdrawal fees | no | variable | variable | no |
| inactivity fees | no | yes | yes | yes |
| deposit fees | no | no | no | no |
| CFD fees | no | no | no | no |
Octafx review - withdrawal fees explained
Withdrawal of cash is possible at any time from the octafx account. It's possible to withdraw up sums to the sum of your account balance, keeping aside the margin used. One thing to keep in mind is that you don't necessarily have to have any cash in your account.
Moreover, the withdrawn money will be transferred directly to the accounts you use to create deposits. Therefore, in the event that you used a credit card for deposits, then the withdrawn money is going to be sent to the card. Octafx will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you are opting to withdraw in.
Octafx review - inactivity fees explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your mind while open an account with octafx. An inactivity fee is an amount charged to registered traders that have not participated in purchasing or selling for some time. The period regarded as inactive is decided by the broker.
The inactivity fee differs from 1 broker to another and isn't standardized. If a traders account doesn't have a purchasing or selling trade, it's maintained by the broker as an inactivity charge. The traders have to pay this fee under conditions and terms that they had consented while registering.
Octafx doesn't charge inactivity fees so you are free to pop in and out of your account as needed
Even if no charges have been implied by octafx, it is better that you close the account if you're inactive. Inactivity fees are not only charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is subjected to many conditions and should be revealed clearly by the broker beforehand.
Octafx review - deposit fees explained
When you transfer money into your trading account from the bank account, a deposit fee can be charged by the broker. Most brokers don't charge an excessive amount of money for this particular operation.
Octafx doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the octafx trading platform is easy. You simply need to complete a single-user profile survey to begin depositing money into your trading account. You'll need to give an identity evidence and proof of residency to deposit substantial sums.
Octafx review - compare broker deposit methods
| Octafx | teletrade | HYCM | plus500 | |
|---|---|---|---|---|
| minimum deposit | $5 | $100 | $100 | $100 |
| credit card | yes | no | yes | yes |
| paypal | no | no | yes | yes |
| neteller | yes | yes | yes | no |
| skrill | no | yes | yes | yes |
| payoneer | no | yes | no |
What can you trade with octafx?
Note: octafx offers a lot of different trading instruments due to regulatory restrictions in some countries. Trading instruments offered may be different based on the country of residence of the client.
Octafx has a wide variety of over instruments available for you to trade with.
If trading currency pairs is of interest to you then octafx offer over currency pairs.
Compare octafx, teletrade, HYCM & plus500 below.
Losses can exceed deposits
Losses can exceed deposits
76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.
Alternatives to octafx
If, after studying this octafx review, octafx does not quite fulfill your requirements check out these octafx alternatives.
We have scoured the internet to find the best alternatives to octafx. Click the hyperlinks below to learn more.
So, let's see, what was the most valuable thing of this article: if you are looking for octafx wikipedia you've come to the right place. We have 12 tutorials & chords about octafx wikipedia including images, pictures, at octafx wikipedia
Contents of the article
- Free forex bonuses
- Octafx wikipedia
- Related posts
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- Hotforex apk
- Best forex broker with no deposit bonus
- Broker forex legal
- Related posts
- Octafx review
- Octafx review: summary
- Octafx review: regulation
- Octafx review: countries
- Octafx review: trading platforms
- Octafx review: trading tools
- Octafx copytrading app
- Autochartist
- Market insights
- Economic calendar
- Profit calculator
- Trading calculator
- Account monitoring
- Other tools
- Octafx review: education
- Octafx review: trading instruments
- Octafx review: trading accounts & fees
- Octafx review: customer service
- Octafx review: deposit & withdrawal
- Octafx review: account opening
- Octafx review: conclusion
- Octafx review
- Review
- Regulation and security
- Octafx fees
- What can I trade
- Account types
- Octafx trading platforms
- Unique features
- Research and education
- Customer support
- Bonuses and promotions
- Opening an account
- Deposits and withdrawals
- Octafx help
- Currency pair correlations - forex trading
- Meaning of currency pairs correlation in forex
- Impact of currency correlations on forex trading
- Forex trading strategies based on correlation
- Highly correlated currency pairs in forex
- Commodities that are correlated with currencies
- Currency correlations change in forex
- Octafx review, updated for 2021
- Octafx guide вђ“ read our in-depth octafx review
- Who are octafx?
- Benefits of trading with octafx?
- Everything you ought to know about trading using...
- Is octafx safe to trade with?
- Pro's & con's of trading with octafx
- Octafx review - compare brokers similar to octafx
- Octafx review - regulation and licencing in more...
- Octafx review - awards
- Octafx review - minimum deposit required
- Octafx review - commission and fees explained
- Compare broker fees against octafx
- Octafx review - withdrawal fees explained
- Octafx review - inactivity fees explained
- Octafx review - deposit fees explained
- What can you trade with octafx?
- Alternatives to octafx
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