Making money online can be quite hard. It usually takes some skill or a lot of dedication to truly make it. Forex is definitely one of the best ways to go if you have some type of financial literacy to your name. However, the industry also poses some challenges for the newcomers. It could be the learning curve for some, but for most, it is the choice they have to make from the very beginning.
This OctaFX Forex broker Review will help you not only find out more about the company itself but generally how to rate brokers and make them your choice of a platform. So in order to alleviate the stress of the choice-making process, let’s dive into this review and see what the broker is all about.
Can OctaFX be trusted?
With all the fancy website designs being the norm today with Forex brokers, it becomes hard to tell, which one you can trust and which one you need to avoid. Sure it’s nice to see a good layout of information for the broker, to have all of the relevant ones displayed clearly and comprehensible. But what truly helps OctaFX brokerage stand out from the rest? Well, I would say the website design, but that’s just a subjective thing. But I have to say that it’s one of the best ones I’ve seen so far.
In the more relative and interesting cases. OctaFX displays one of the primary examples of good transparency. Their primary values, goals, and information can be found in their About Us page. The thing to note here is that they actually disclose the information about their regulators. The OctaFX regulator is currently the FCA, which is one of the most trusted financial watchdogs out there. What’s even better is that all of the reviews that are featured on their website are genuine, believe me, I checked (twice). All of this adds to the vibrant nature of the broker, we appreciate their cooperation with their community and turning Forex trading into something more of a hobby than a dragging job.
OctaFX features Review
Sure all of the transparency and community can be nice for a broker, but what are their features? By features I mean, what can you expect in terms of withdrawals, service, instruments and etc. You know, the features you actually need for trading. So let’s not ponder over it too much and dive right in.
OctaFX Withdrawal System
The withdrawal system for OctaFX is actually realistic. Thanks to the statistics that I’ve seen the broker can actually maintain a healthy business model, while also offering no fees for your withdrawals. Surely the withdrawal system that we are used to needs to become a thing of the past and OctaFX is actively working towards that. With most other brokers you would receive at least a 2% fee, which can rack up quite rapidly as your profits increase day by day.
In terms of time, you’re good to go as well. OctaFX withdrawals take no more than 24 hours for your credit card and the standard 3-5 working days for Wire transfer, but you cannot blame the broker for that a
The OctaFX spreads are pretty much self-explanatory. There is no need for a long explanation about this, they feature spreads as low as 0.4 pips, which could be a godsend for a high-volume trader. But many people look at this quite skeptically as they believe its too good to be true. But the thing is, as we’ve already mentioned, thanks to the size of the brokerage they are able to maintain this business model.
As you can see there is just enough diversity with OctaFX Account types. It’s also very handy that the information about the minimum deposit is well known. Having it sit at $50 really helps the broker to appeal to the newer players of Forex trading, maybe that’s what’s helping them keep up their generous business model?
Anyways as you can see you can utilize maximum leverage on both Micro and Pro accounts which can be up to 1:1000, meaning that high-volume trading is available regardless of your account. The Pro account gets a nice boost for lower spreads and added CFD trading feature. Although it is quite disappointing to have CFDs be exclusive for a specific type of trader, nonetheless Micro Account traders can have quite nice diversity in their assets.
Advantages of trading Forex with OctaFX
Deposit bonuses are slowly dying out with a lot of brokers nowadays. Some of them just cannot maintain the volume traders keep demanding it at. OctaFX deposit bonus has got you covered with a 50% addition to your deposit. Not only do you have access to the insane leverage, but you can also potentially increase it even more with the bonus. Sure it’s not something everybody will use, but it is a good feature to have available.
Contests are one of the best ways to have a more engaging business model. To encourage your customers to actually trade is no easy feat, but it looks like that OctaFX Forex broker has that covered quite easily. There are 3 contests that you can take part in right now. The weekly demo account, monthly demo account and the Supercharged 2 Real contest with BMW X5 M as the first prize. The keyword here is “demo account”. Which means that there are no admission fees, everyone can take part if they just make an account and start trading even without any deposits.
Is OctaFX Forex broker legit?
After all of this writing, it’s important, to sum up, what we’ve learned. We have seen one of the best website designs on the market right now. OctaFX’s team was able to construct a business model that accommodates all types of traders on their platform. Not only that, but the perks and features you can access with this broker are pretty much unrivaled.
Who would we suggest this broker to? Honestly, everyone. If you’re a veteran trader you can find yourself in the comfort of this broker’s maximum leverage options. If you’re a beginner you can use the minimum deposit and the bonuses to help you get started. And even if you’ve never even heard the word Forex, you can take part in the contest and get a first-hand experience with trading. Overall, a solid Forex broker for traders of every caliber.