do you want to know What is OctaFX App? How does it work? So this blog post is just for you, after reading this you will get the answer to all your questions easily.

OctaFX trading App an official forex trading tools which is fund deposit And extract Allows both. In-app settings help you manage your OctaFX personal profile, manage deposits and control real, demo and contest accounts.

OctaFX provides a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

It has made great strides with its pricing options for traders, but suffers from a limited range of tradable instruments and a lack of diversity in its educational content. OctaFX has only one regulatory license.

Founded in 2011, OctaFX is regulated in only one Tier-2 jurisdiction (Cyprus), which makes it forex and CFD trading A high risk broker for

Maintains a growing array of well-organized research with business ideas, daily updates, weekly forecasts, and third-party content.

No regulatory protection is offered to clients served by the broker’s non-regulated offshore unit in Saint Vincent and the Grenadines (SVG).

OctaFX appears to offer competitive trading costs, but its listed spreads do not have corresponding date ranges, and are combined with only a narrow selection of over 50 tradable symbols.

Is OctaFX safe? – Is OctaFX App Safe in English?

OctaFX is considered high-risk, with an overall trust score of 66 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorized by Zero Tier-1 Regulator (High Trust), One Tier-2 Regulator (Average Trust), and Zero Tier-3 Regulator (Low Trust).

investment offer

OctaFX offers less than 50 tradable instruments. By comparison, industry leaders Saxo Bank, IG, and CMC Markets all offer over 10,000 tradable instruments.

Cryptocurrency: Cryptocurrency trading on OctaFX is available via CFDs, but not through trading the underlying asset (such as buying bitcoin). Note: Crypto CFDs are not available to retail traders from the UK unit of any broker, nor to UK residents.

commission and fees

OctaFX has struggled with pricing in the past, but the category has improved significantly and is now taking advantage of the lowest cost MetaTrader brokers.

Account Type: Any commissions or fees you pay on OctaFX will depend on the account type you choose and the OctaFX entity under which your account is regulated. European clients will choose the EU unit of the broker, while international clients are served by OctaFX’s offshore unit in St. Vincent and the Grenadines (SVG). In the EU, only MT5 is promoted and thus a single account is available, while the SVG entity offers accounts for both MT4 and MT5.

Spread: OctaFX’s spread value varies depending on which of its entities controls your account. For example, its EU unit is slightly better for the EUR/USD pair at 0.5 pips, compared to 0.7 pips for the SVG unit. It is worth noting that OctaFX did not provide a date range for its average spread data, and thus the values ​​do not carry the same weighting as the respective date reference spreads.

Overall, OctaFX has improved its pricing and appears to be in sync with the lowest cost Metatrader brokers, but with no date range available for its average spread claim, we need to make an accurate comparison. were unable to.

OctaFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradable instruments. There is no doubt about it – if OctaFX wants to compete with the best MetaTrader brokers, it needs to improve its range of products and its research and education.

Although it is given regulatory status in Cyprus, OctaFX The lack of additional reputable licenses held by the U.S. has a huge impact on its trust score. Getting regulated in more jurisdictions – especially Tier-1 jurisdictions – will go a long way towards building trust with existing and potential customers.

Is OctaFX a good broker?

OctaFX is an emerging broker that has been in operation for almost 10 years. Its growth has enabled OctaFX to continue expanding its products and services. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step towards winning greater customer confidence.

Is my money safe with OctaFX?

Since OctaFX is only regulated in Cyprus, we consider the broker to be more risk-averse than firms that are regulated in several Tier-1 jurisdictions.

Founded in 2011, OctaFX has regulated licenses primarily in Europe through its Cyprus-based entity – Octa Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC). Your account may be eligible for certain CySEC protections – Octa Markets Cyprus Ltd. In the exceptional event of bankruptcy, for example, you will be protected from the Investor Compensation Fund (ICF) up to EUR 20,000.

What is the minimum deposit amount for OctaFX?

The minimum deposit on OctaFX will vary depending on your country of residence and the payment method you choose. They can be as low as $25 (USD) when funding with Visa/Mastercard, up to 500,000 Indian Rupees (INR) when using Skrill/Neteller. It is important to note that the minimum deposit and trading cost will also depend on which OctaFX entity you choose to set up your trading account with.

OctaFX has over 50 different payment options, such as Visa, Neteller, Fasapay and Bitcoin, as well as a large number of local bank transfers. The availability of these payment methods may also depend on your country of residence.

Forex Risk Disclaimer:

Trading securities involves a lot of risk. In relation to margin-based forex trading, off-exchange derivatives and cryptocurrencies, there is considerable exposure to risk, including leverage, creditworthiness, limited regulatory protection and market volatility, which can substantially affect price or liquidity. Is. of a currency or related instrument. It should not be assumed that the methods, techniques or indicators presented in these products will be profitable, or will not cause harm.

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We hope that after reading this blog post your questions What is OctaFX Trading App? ,What is OctaFX App, Review in English) and how does it work? You will get the answer easily.