OctaFX Account Type

OctaFX offers several account types to cater to different trading styles and preferences:

• MT4 Account:
• Recommended for: Traditional traders who prefer an easy start.
• Minimum Deposit: $100.
• Spreads: Floating spreads starting from 0.6 pips.
• Commission: No commission, but markup on spreads.
• Leverage: Up to 1:500 for forex, with specific limits for other instruments.
• Instruments: 35 currency pairs, gold and silver, 3 energies, 4 indices, and 30 cryptocurrencies.
• Maximum Volume: 200 lots.
• MT5 Account:
• Recommended for: Innovative traders who prefer smart tech trading.
• Minimum Deposit: $100.
• Spreads: Floating spreads starting from 0.6 pips.
• Commission: No commission, but markup on spreads.
• Leverage: Up to 1:500 for forex, with specific limits for other instruments.
• Instruments: 35 currency pairs, gold and silver, 3 energies, 10 indices, 30 cryptocurrencies, and 150 stocks.
• Maximum Volume: 500 lots.
• Islamic Account:
• Designed for Muslim traders, this account is swap-free and compliant with sharia law.
• Available on both MT4 and MT5 platforms.
• Offers the same trading conditions as the standard accounts but without any overnight fees.
• Demo Account:
• Allows potential clients to practice trading with virtual money.
• No expiry date, but inactivity may lead to account loss after a certain period.

All OctaFX accounts feature commission-free trading and a competitive cost structure, making them suitable for a wide range of traders.

OctaFX Broker Account Opening Process

Opening an account with OctaFX is straightforward and involves the following steps:

• Visit the Website: Go to the OctaFX website.
• Click on Open Account: Locate the "Open Account" button on the top right corner of the homepage.
• Fill Out Registration Form: Provide your personal information, including name, email address, and country of residence.
• Verify Email: Check your email for a confirmation link and click it to verify your account.
• Complete Personal Details: After email verification, fill in additional personal details required for KYC compliance.
• Select Account Type: Choose between a real or demo account and select your preferred trading platform (MT4, MT5, or Octa Trader).
• Make Your First Deposit: After account setup, fund your account using various payment methods. The minimum deposit is $25, but starting with $100 is recommended.
• Verification for Withdrawal: To withdraw funds, you must verify your identity by uploading necessary documents.

These steps ensure a secure and efficient account opening process, allowing you to start trading quickly.

Sources:

• OctaFX Account Types Overview
• How to Open a Trading Account with OctaFX