OceFx

General Information & Regulation

OceFx, a trading name of DVS Markets Ltd, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines under Register number 25683BC2009 that claims to provide its clients with over 100 tradable assets with leverage up to 400:1 and no commissions on the Ark aTrader for Web Trader, Windows, iOS and Android trading platforms, as well as a choice of nine different live account types and 24/7 multilingual customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that OceFx does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.09/10. Please be aware of the risk.

Market Instruments

OceFx advertises that it offers access to more than 100 trading assets in financial markets, including currencies, precious metals (gold and silver), commodities, indices, CFDs, stocks and cryptocurrencies.

Account Types

Apart from demo accounts, OceFx claims to offer nine types of trading accounts, namely AI Starter PACKAGE, AI VOVPRO Package, AI Platinum Package, AI Bot, AI Bot Pro, AI Dynamic Bot, Manual Trading, Copy Trading and Managed Account. The minimum initial deposit amount is $225 for the AI Starter PACKAGE, while the other eight account types have much higher minimum initial capital requirements of $530, $1050, $2650, $5000, $10000, $100, $100 and $10000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by OceFx is up to 400:1 for forex. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Commissions

OceFx claims that there is no commission charged.

Trading Platform Available

Platforms available for trading at OceFx are Ark aTrader for Web Trader, Windows, iOS and Android. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

OceFx says to work with numerous means of deposit and withdrawal choices, consisting of Neteller, Skrill, WebMoney, Perfect Money, debit/credit cards, Bitcoin, Bank Wire Transfer and International Transfer. The minimum initial deposit requirement is said to be $225, while there is no mention of what the minimum withdrawal amount is. As for the processing time of deposit and withdrawal requests, deposits via International Transfer require 1 business day to be processed while the other deposits are instant; withdrawals with Bank Wire Transfer take 2 hours, while International Transfer withdrawals require 3 business days and other withdrawal requests usually can be processed within 4 hours.

Bonuses

OceFx claims to offer a 100% tradable bonus, yet we cannot be sure if the bonus can be withdrawn without any limitation. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

OceFxs customer support can be reached by telephone: +44 7537166187, email: support@ocefx.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and LinkedIn. Company address: Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.