OctaFX-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2022-05-19 23:55

Abstract：OctaFX is advertised as one of the best forex brokers on the market since 2011, claiming to offer access to CFD, commodity and indices trading with award-winning forex trading conditions, worlds most renown trading platforms, as well as up to 1:500 leverage, competitive low spreads on multiple instruments and 24×7 customer support services for traders all round the world.

General Information

OctaFX is advertised as one of the best forex brokers on the market since 2011, claiming to offer access to CFD, commodity and indices trading with award-winning forex trading conditions, worlds most renown trading platforms, as well as up to 1:500 leverage, competitive low spreads on multiple instruments and 24×7 customer support services for traders all round the world.

Market Instruments

OctaFX advertises that it offers a wide range of trading instruments, including forex, CFDs, currency pairs, live quotes, commodities, stocks, indices and cryptocurrencies.

Account Types

There are three live trading accounts offered by OctaFX, apart from unlimited demo training accounts, namely OctaFX MT5, OctaFX MT4 and Islamic accounts. The OctaFX MT5 account is recommended for smart trader and suitable for smart tech trading, while the OctaFX MT4 account is recommended for habitual trader and suitable for an easy start. Recommended deposit of any one account type is $100.

Leverage

Different trading assets enjoy different maximum leverage ratio. 1:500 for currencies (1:100 for ZARJPY), 1:200 for metals, 1:100 for energies, 1:50 for indices and 1:25 for cryptocurrencies.

Spreads & Commissions

OctaFX claims that spreads is floating and start from 0.6 pips. All charging no commissions.

Trading Platform Available

The worlds most popular trading platform, MetaTrader4 and MetaTrader5 are both available at OctaFX. They both have three versions: Desktop, Android and iOS.

Tools

OctaFX says to offer five different kinds of tools, which includes Trading calculator, Profit calculator, Live quotes, Monitoring and Autochartist.

Deposit & Withdrawal

OctaFX accepts deposit via Bitcoin, Skrill, Neteller, Dogecoin, Tether ERC-20, Tether TRC-20, MasterCard, Ethereum and Litecoin. Except MasterCard, other methods are also available for withdrawal. The execution time varies according to different methods. Execution of Skrill, Neteller and MasterCard deposit is instant, while the rest deposit methods needs 3-30 minutes. All withdrawal methods requires 1-3 hours to approve the withdrawal and up to 30 minutes to transfer the funds.

Customer Support

OctaFXs customer support can be reached through live chat. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, YouTube, Instagram, Telegram and LinkedIn. Company address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines.

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