OctaFX Forex Broker

Note: OctaFXs official site - https://www.octafx.eu/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant 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. General Information & Regulation Feature Detail Registered Country/Region Cyprus Regulation Regulated by CYSEC Market Instrument forex pairs, CFDs on commodities, indices, precious metals and energies Account Type Standard Demo Account N/A Maximum Leverage 1:30 Spread (EUR/USD) Average 0.5 pips Commission N/A Trading Platform MT5 Minimum Deposit $100 Deposit & Withdrawal Method Visa, MasterCard, bank transfers, Skrill OctaFX is regulated under Octa Markets limited in St. Vincent and the Grenadines (SVG) and Octa Markets Cyprus Limited in Cyprus. European clients will choose the broker‘s EU entity, whereas international clients are served by OctaFX’s entity in Saint Vincent and The Grenadines (SVG). In Cyprus, it is duly recognized and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18 and registration number HE359992. Note: The screenshot date is January 17, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments OctaFX advertises that it offers a wide range of trading products which include forex pairs, CFDs on commodities, indices, precious metals and energies. Account Types OctaFX seems to only offer a single Standard account with a minimum initial deposit requirement of $100. The account is swap-free - it doesnt charge an overnight fee from traders. Leverage The leverage is capped at 1:30. 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. Spreads OctaFX claims that the average EUR/USD spread is 0.5 pips. Trading Platform Available The platform available for trading at OctaFX is one of the most notable and preferred trading platforms the market offers - MetaTrader5. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal Clients of the brokerage may deposit or withdraw via Visa, MasterCard, bank transfers, as well as Skrill. The minimum initial deposit requirement is said to be $100. Customer Support OctaFXs customer support can be reached by telephone: +357 25 251 973, email: upport@octafx.com. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and YouTube. Company address: 1, Agias Zonis and Thessalonikis Corner, Nicolaou Pentadromos Center, Block: B', Office: 201, 3026, Limassol, Cyprus. Pros & Cons Pros Cons • Regulated by CYSEC • Website inaccessible • Wide range of trading instruments • MT5 supported Frequently Asked Questions (FAQs) Q 1: Is OctaFX regulated？ A 1: Yes. OctaFX is regulated by Cyprus Securities and Exchange Commission (CySEC). Q 2: Does OctaFX offer the industry-standard MT4 & MT5？ A 2: Yes. OctaFX supports MT5. Q 3: What is the minimum deposit for OctaFX？ A 3: The minimum initial deposit with OctaFX is $100. Q 4: Is OctaFXa good broker for beginners？ A 4: Yes. OctaFX is a good choice for beginners. It is regulated well and offers competitive trading conditions on the leading MT5 platform, but somehow its website is unavailable currently.