OctaFX


Overall Score   How is this Calculated?

9.0

Ranks #16 of 29
In Reviews > OctaFX


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Details:

  • Min. Deposit: $5
  • Max. Leverage: 500:1
  • First Deposit Bonus:
  • Min. Lot Size: 0.01
  • Regulation: FSA (UK)

  RATING

Ease of Access:
8.9
Reliability:
9.1
Support:
9.0
Payouts pct.:
9.1

  AWARDS

OctaFX Review – A Reliable and Capable Rich Choice of Broker


OctaFX is an online Forex broker that has won a number of awards and that generally represents an excellent choice of broker for your trading needs. They are reliable, reputable and offer a number of great features that set them apart from the competition.

 

When you are looking for an online broker in order to start trading and earning money, it's very important to read around and get advice first. Some trading companies might charge too much to be worth your while, while others are downright scams that will make it very difficult for you to get your money back in any way they can.

 

That's why it's so refreshing to find a company like OctaFX that offers upstanding principles, excellent customer service and a number of great features and intuitive policies. In this OctaFX we will look at their reputation, features and service in more detail so that you can decide if they're the right broker for you.

 

Overview

 

OctaFX is often considered to be one of a 'new breed' of online Forex broker. They are relatively new on the scene but have already begun to build a fantastic reputation and even won a number of awards.

 

OctaFX was awarded as one of the fastest growing micro brokers in 2012 and this fast growth is a reflection of their great service and commitment to excellence. In fact, this commitment to excellence is so integral to the company ethos that the CEO has even been quoted as saying as much:

 

"Perfectionism in its best sense, professionalism and goal-orientation is what distinguishes the OctaFX team"

 

This is a very good sign and something that you should look for in any broker.

 

Trading Platforms Supported

 

As with many brokers, OctaFX's main trading platform is the brilliant MetaTrader 4. This is a platform that most experienced traders will be intimately familiar with as it is the preferred platform of most of the best brokers. In fact, MT4 has become the industry standard.

 

MT4 is incredibly popular thanks to its excellent reliability as well as its slew of features. It is very stable and highly customizable and is equipped with a roster of technical tools that can really give you the edge when trading and trying to make a profit. The fact that it is so popular is in itself a great advantage too – it means that experts won't need to learn a new platform and it ensures that there's plenty of support out there and plenty of people who can help you should you have any problems or any questions. It's a much 'safer bet' than choosing a company that only uses a proprietary platform that may or may not be very good.

 

MT4 is also available on mobile devices which has the considerable advantage of letting you trade from anywhere in the world. IF you have an iPhone, iPad, Android or Windows Phone, then you will be able to trade wherever you go.

 

Account Types

 

OctaFX offesr two main types of trading account. These are the Micro trading account and ECN trading account. A micro trading account only requires a minimum deposit of $5 which is incredibly low and means that you can get started with trading right away without having to make a huge and scary investment. The same goes for the ECN trading account and both also offer leveraging up to 1:500.

 

Spreads that OctaFX charges start from 0.2pips and are floating. This is regardless of the type of trading account. They also have a demo account for those who want to experience trading with the broker without having to make any commitment.

 

Customer Support

 

As that quote from the CEO clearly demonstrates, OctaFX is absolutely focused on delivering an excellent experience for its customers. Their customer support is a big part of this and that's why they make sure to provide 24 hour support five days a week. They also offer a variety of different ways to get in touch – in fact they have more options than probably any other broker that you're likely to find.

 

Contact methods available include live chat, email and phone as you'd expect. On top of this though you also have the option to fill out an online contact form and there are multiple different phone numbers available for different regions. They provide support in a variety of different languages.

 

When you use any of these methods, you'll find that they always provide a rapid response and that they're highly professional and very helpful on the phone.

 

Security

 

OctaFX provides a highly secure and reliable service so that you can be absolutely sure that your money and your details will be safe when you use their services. They maintain account segregation by keeping their own corporate funds separate from your trading funds which is in keeping with international regulations and accounting standards.

 

They also use SSL data encryption on all transactions and have stringent account verification protocols. All this means that you can be absolutely sure that your money will be safe and you don't have any cause to worry when you use their services.

 

Deposits and Withdrawals

 

OctaFX also makes it very easy to deposit and withdraw money. They accept a number of different methods for transactions including card transactions via Visa or MasterCard. 3D secure technology ensures that these transactions are kept extra secure while you can also be safe in the knowledge that you will always have instant access to your funds whenever you need them. Some less reputable companies have been known to make it difficult for their clients to get at their money when they need I but that's just not OctaFX's style.

 

Conclusion

 

Overall, OctaFX is a company that puts the customer's satisfaction and experience right at the forefront of their business ethos. This is reflected in their tight spreads (some of the best in the business) as well as their amazing customer service. If you want to ensure you're taken care of at every stage then this is a great broker to choose.

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