We’re sorry to hear you faced troubles when depositing your funds. It’s not a typical situation when our traders are not able to deposit the funds within a normal time frame. If your issue hasn’t been resolved yet, please be so kind as to share your trading account details.
You can practice reversal trading, use automated trading, or show your newly built skills to get the first prize. In accordance with international regulation standards, OctaFX uses separate accounts to keep protected customers funds segregated from the companys balance sheets. In this OctaFX review we will take an in-depth look into this broker by delving into their tech, fees, regulation and Withdrawns, etc . We will also give you some top tips in order to make the most of your experience on their platforms. As previously mentioned, this company, or better said its branch Octa Markets Cyprus Ltd, has a CySEC regulation.
If this is an issue then the Demo account could be a good way to test what is on offer as it has sufficient privileges to allow comprehensive testing of features including copy trading. I had deposited more than INR in my trading wallet but it is not showing in my balance. It’s been deducted from my bank account but it is not reflecting on my trading balance. When I reported this issue with octafx customer support, they told me to wait for the money to show in my account. They first told me that it takes a week for some transactions to complete. live chat operating 24/5 or an email (email support works 24/7, by the way), and ending with trading conditions such as spreads which are considered one of the highest on the market.
Our customer support is available 24/7 and we handle all the queries on an orderly basis. International anti-money laundering legislation requires each global Forex broker to follow certain rules before any withdrawal request can be approved by them. The minimum withdrawal limits here are the same as the deposit limits, except for payments through banks and Neteller, which are $5 and $4 respectively.
We also care for reviews of our services, as they are vital for us to understand the direction in which we ought to grow to provide the best services to our traders. That said, reviews ought to be impartial, comprehensive and informative. We are saddened to read the above examination of our services as it sounds misleading and appears prejudiced. The Facebook account of OctaFx publishes a post about the wallpapers offered by them.
Is Octafx Legal In India?
These deposit bonuses were recently outlawed in Europe and regulators such as CySEC have forbidden brokers from offering them. Perhaps these bonuses are only available to their traders in other jurisdictions. We found these guides to be quite comprehensive and informed. They were relatively easy to follow and could help supplement the demo account Retail foreign exchange trading if you are starting out. Anyone can become a master but you will have to take into account how well you trade. Moreover, if your spreads are too high on the commission then their chance of making a profit is also eroded. It appears as if this is something of a trend at OctaFX as they have also been recognised by others in the industry.
Speaking about server OctaFX, the trading servers are located in London. On the other hand, OctaFX UK limited has a massive number of networks as well as data centres across Asia and Europe to offer stable connection 24×7. OctaFX regularly holds webinars which are beneficial for those new to Forex trading and are determined to make a career out of it. While learning on your own is admirable, OctaFX works with big names in the industry and connects with their base through different mediums. OctaFX hosts its MetaTrader servers throughout Europe and Asia. On the other hand, its cTrader server is a hosted solution from Spotware.
These conditions require the availability of proper margin, all necessary information, and the proper clarity on the payment channel. The leverage ratios in the trading accounts of the regulated brokers are competitive, but that’s not the case here. It allows a fair chance for traders to deal with the volatility of the forex industry. The non-provision of essential levels of the leverage ratio is a major disadvantage to traders. Status Program is OctaFx.com’s way of rewarding loyal traders.
Regulated brokers establish a committed customer support team. It has various verticals of non-technical and technical support to traders. The quick responding team is the key to break the barriers between the broker and traders. OctaFx does not realize the importance of the high-end customer support and traders are left to linger on with their grievances. OctaFX is a Forex broker that claims to deliver the best FX trading conditions in the market. It offers a cost-effective trading experience, which both beginners as well as seasoned traders greatly appreciate.
For a true ECN experience, however, the company has acquired a license for cTrader from Cyprus based Spotware. OCTAFX really care about their clients and their customer support team is proven to be the most helpful and professional in the industry. OctaFX proves to be highly proactive in eradicating consumer complaints by actively working with their clients and ironing out issues through amicable means. They offer exhaustive Education section and free demo account with exactly the same conditions and execution speed as the real one. It comes in handy for beginners or those who want to test-drive OctaFX services without risking personal funds. OctaFX seems to be highly committed to ensuring an excellent result in customer satisfaction and client retention.
A representative is available to you 24/7 and they speak your language. When you consider how many countries OctaFX services, then it becomes even more impressive. Peace of mind may be the most underrated benefit, yet when you need forex an issue resolved, regardless of the time, OctaFX is there. Several platforms offer services allowing newbies to copy professional traders. In fact, according to Forex-Awards OctaFX is the ‘Best Copy Trading Platform 2020’.
- Swap rates apply, and Islamic Accounts face an equal cost, only labeled differently; the Islamic account structure complies with Sharia law.
- The apps provided fulfill the needs of traders, but we have seem apps from other brokerages that have been easier to use.
- They have opened up to 300,000 accounts and achieve $4bn in daily volume.
- What makes OctaFX’s copy trading platform rise above the rest is the care they put into it.
- We regret to read that you are not happy with our services and we sincerely apologize for any inconvenience caused.
- Mobile trading is one of OctaFX’s strong suits; all the apps are available for Android and Apple devices and through each provider’s app store.
OctaFX eliminates fears by traders by applying the best tools to ensure additional funding. There is no reason to worry, the broker automatically shuts off your positions as soon as it is detected. You can use the MetaTrader Supreme Edition platform to improve your business because the most advanced tools are applied here. You can try using live and free demo accounts to enjoy this platform. OctaFX MT5 and MT4 have powerful global widgets for feedback. MetaTrader 4 and MetaTrader 5 play a major role in rapid order reversal and hedging promotion.
Applications for MT4 support Android, iPhone or any device compatible with the OS WinMobile. This trader publication is a marketing communication and does not constitute investment advice or research.
It is a case of neglect in which the company tries to save its cost and efforts in helping traders. Traders should not let the negligence of the broker take a toll on the invested money. OctaFX accepts deposits via Visa/Mastercard, Bank wire, Skrill, Neteller, and also Local banks transfers in Indonesia and various other Countries. Other domestic payment methods are also supported with new ones being added monthly. Your deposit may be in USD or EUR, and the minimum deposit for OctaFX is $5 for a Micro account balance.
The account types offered are a Micro Account, which utilizes MT4, a Pro Account, which uses MT5, and an ECN Account which avails of the cTrader platform. Forex trading carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments, due to leverage retail accounts lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. We apologize that you experienced delays with your withdrawals. Looking into your review, we’ve found that both your requests have been completed the following day after being requested.
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It is strange but true that the place of services is given to the wallpapers. My OctaFx review respects the creativity but there is no link between the broker and the cosmos.
It deactivates cTrader accounts if you leave them inactive for 90 days and demo contest accounts at the end of the round. You can use Account Monitoring to share your charts, profits, performance, history, and trade orders with OctaFX Broker Review other traders. You can also use this feature to compare the stats of successful traders and learn their secrets. Only you can access your OctaFX account to withdraw funds as every fund withdrawal requests email confirmation.
Octafx Allows Mobile Trading (app)
Their address of the SVG region is a duplicate address and many companies have the exact same address. Their second claim that they have an association with the reputed Cyprus Securities and Exchange Commission is untrue.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite.