Opinions and information about the OctaFX broker
¿It is the really reliable OctaFX broker? Is it safe for you to invest your money with this company? In this section we will analyze the broker and its reputation as such on the internet.
We invite anyone who has experience with this company, to leave a comment with their experience and to give a score to the broker according to their experience with it.
OctaFX broker is a Forex and CFD broker.
The broker mentions that is part of Octa Markets Incorporated.
OctaFX mentions having based in Saint Vincent and the Grenadines.
If we talk about regulation, the broker mentions being degree in Saint Vincent and the Grenadines, but does not mention being regulated, we think it is a broker NOT REGULATED.
We will continue to analyze the different account types that OctaFX offers. In the case of OctaFX, it has 3 different types of accounts: Beginning Traders Account, Experienced Traders Account and Advanced Traders Account.
Beginner Traders Account: minimum initial deposit of $ 100, variable spreads from 0.4 pips / fixed from 2 pips, leverage up to 1: 500 (FX), 1: 200 (Metals), 1: 100 (Indices), 1:10 (Cryptocurrencies), minimum trade size 0.01 lots, execution to market, fifth decimal place, margin call / stop out level 25% / 15%, hedging, scalping, expert advisors.
Experienced Traders Account: minimum initial deposit of $ 500, variable spreads from 0.2 pips, leverage up to 1: 200 (FX), 1: 100 (Metals), 1:50 (Indices), 1:10 (Cryptocurrencies), minimum trade size 0.01 lots, market execution, fifth decimal place, margin call / stop out level 45% / 30%, hedging, scalping, expert advisors.
Advanced Traders Account: minimum initial deposit of $ 100, variable spreads from 0.4 pips, leverage up to 1: 500 (FX), 1: 200 (Metals), minimum trade size 0.01 lots, execution to market, fifth decimal place, margin call / stop out level 25% / 15%, coverage, scalping, expert advisors.
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The platforms used to trade are: MT4, MT5 and cTrader platforms.
Now, yes, we will go on to analyze the different resources and aids that the broker provides to traders on its website: explanations about the operation and how the instruments that can be traded are formed, updated news and analysis on financial markets (although found in English), economic calendar (in English), trading calculator, profit calculator, graphs with real-time quotes, interest rates of different banks around the world, different educational articles explaining basic concepts of the world of trading, among other resources and tools.
OctaFX broker features
Additional information about the company
Phone number: +44 20 3322 1059 (UK) | +34 651 769 010 (Whatsapp) | +34 691 370 613 (Whatsapp)
E-mail: [email protected]
Clarification: The OctaFX broker works in different countries, so the information provided may not apply to your country, this review is directed to Latin America and / or Spain.
With the information we have so far, the comments and reviews of users and traders, Our opinion is NEGATIVE, since it is a UNREGULATED broker, it is based in unsafe countries (Saint Vincent and the Grenadines), we suggest to exercise caution.
January 2021 update: FCA, UK financial regulator, has reported OctaFX due to fraudulent activities.
Do you know this broker? Do you think our opinion is not correct? Have you operated with him? Leave a comment with your experience.
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