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Overview

The brokerage company OctaFX started its operations in 2011. It was registered in Saint Vincent and the Grenadines. It has all licenses for the provision of brokerage services and provides them at the highest level.

The company received many prestigious awards at international exhibitions for the high-quality service of customers. In 2012, it was recognized as the Fastest Growing Micro Forex Broker, in 2013 it was rewarded with awards: Best Broker Central Asia and Best Broker Central & Eastern Europe and won the award Best Customer Service Broker. Based on the results of 2014 the company was recognized as the Best ECN Broker Asia and Best Broker Central Asia and Best Broker Central & Eastern Europe.

The company OctaFX offers three types of accounts for trading on the foreign exchange market and traders can choose one of them with the most profitable conditions for trading.

Regular contests both on demo and real accounts are held on the official website of the company. Each contest has different prizes. For example, great cash prizes are drawn on demo accounts and the winner on the real account can count on Porsche Panamera.

Bonuses

The company OctaFX holds various promotions and contests for its clients and readers of Casinoz, and their winners get cash prizes and bonuses from the broker.

Deposit bonus is available for all customers of OctaFX. Deposit bonus may be 10%, 30% and 50%. This bonus is calculated based on the deposited sum. Deposit bonus is provided each time when the replenishment of the trading account occurs. If the customer does not want to receive this bonus, it may refuse anytime. Bonus funds are credited to the account of the client, but they can not be used in speculative currency pairs trading. According to the rules for the promotion, traders should close a certain trading volume while trading currency pairs. The trading volume is calculated by a simple formula: bonus/2. For example, the trader receives deposit bonus of $500. In this case, he should close the trading volume of 250 standard lots.

The contest OctaFX Champion is held every month. Anny trader who is registered with the company can sign up for it. The contest is held on demo accounts. The startup capital is $1,000. The main aim of the contest is to obtain the greatest profit while trading on the Forex market.

According to sources of Casinoz, prizes in the contest are distributed in the following way:

- the 1st place - 500 dollars

- the 2nd place- 300 dollars

- the 3rd place - 100 dollars

- the last place - 100 dollars.

The contest Trading Sprint is regularly held on the site of OctaFX. The competition takes place in several stages. According to the rules for the contest, traders who receive the highest profit at all stages become winners.

The distribution of the prize pool:

- the 1st place - 2,500 dollars

- the 2nd place - 1,500 dollars

- the 3rd place - 1,000 dollars

- the 4th place - 700 dollars

- the 5th place - 300 dollars.

The contest King of the Road is held on real accounts. Customers of the company, who have been completely verified, can sign up for the contest. Since the competition is conducted on real accounts and is associated with high risk, the company rewards winners with very good prizes.

Prizes of the contest King of the Road:

- the 1st place - Porsche Panamera

- the 2nd place - trip to Nice for two

- the 3rd place - laptop Macbook Pro

- the 4th place - new iPad

- the 5th-10th places - new iPhone.

The contest OctaFX cTrader is held on the website every week. The competition is held on demo accounts and the main task of the participants is to earn as much money as possible. At the end of the contest winners are announced and they will be awarded cash prizes.

The distribution of the prize pool:

- the 1st place - 150 dollars

- the 2nd place - 100 dollars

- the 3rd place - 75 dollars

- the 4th place - 50 dollars

- the 5th place - 25 dollars.

Training

The brokerage company OctaFX published a small amount of educational materials that will allow beginners to become a little familiar with trading on the international foreign exchange market.

Educational materials about trading on the currency market.

1. Trading platform Meta Trader 4:

- description of the trading platform MT4

- trading tools that are available on the platform

- Forex indicators, which are available for use in trading

- types of available orders

- how to open positions on the foreign exchange market

- how to close positions on the foreign exchange market

- how to set up automatic trading with the help of Forex expert advisors.

2. Features of trading on the currency market:

- what is foreign exchange market

- ECN/STP trading, basic differences and advantages

- what are requotes and how they influence incomes of traders

- basics of fundamental analysis

- basic rules for trading on important news

- main difference between brokers and dealing centers

- how dealing centers operate

- how to open a trading account in the company OctaFX

- what is spread and what is the difference between floating spread and fixed spread

- what are slippages and why they occur

- what is stop loss and when to use it.

3. Banks of the world and their interest rates:

- Bank of Australia

- Bank of Brazil

- Bank of Canada

- Bank of Chile

- Bank of China

- Bank of the Czech Republic

- European Monetary Union

- Bank of Japan

- Bank of Hong Kong

- Bank of New Zealand

- Bank of Switzerland

- Bank of the United States

- Bank of the United Kingdom

- Bank of Thailand

- Bank of Sweden

- Bank of South Africa.

The company OctaFX is ready to provide all clients with free demo accounts. On demo accounts traders are provided with the opportunity to have a good practice in trading on the Forex market. Trading on demo accounts is not associated with any risk, since virtual money is used on them, but it should be noted that real quotes of the foreign exchange market are provided. Demo accounts are usually used by new traders to manage key skills of online trading. Experienced traders open them to test different trading strategies and Forex expert advisors, as well as to develop their own trading systems.

Terms of trading

OctaFX offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- the minimum deposit is $5

- the leverage is up to1:500

- five digits after the decimal point

- a lot of currency pairs, securities, gold, silver, futures

- floating spread is from 0.2 points

- market swap

- hedging is available

- scalping is available.

The brokerage company OctaFX offers traders the following types of accounts to trade on the currency market:

- Meta Trader 4 Micro

- Meta Trader 4 ECN

- cTrader ECN.

Trading account Meta Trader 4 Micro:

- the minimum deposit is $5

- the minimum lot size is 0.01

- the maximum number of open lots is 10

- the leverage is 1:500

- 12 currency pairs, silver and gold

- market swaps

- Market Execution

- margin call is 25%

- stop out is 15%.

Trading account Meta Trader 4 ECN:

- the minimum deposit is $50

- the minimum lot size is 0.1

- the maximum number of open lots is unlimited

- the leverage is 1:500

- 28 currency pairs, silver and gold

- market swaps

- Market Execution

- margin call is 25%

- stop out is 15%.

Trading account cTrader ECN:

- the minimum deposit is $5

- the minimum lot size is 0.01

- the maximum number of open lots is unlimited

- the leverage is 1:500

- 48 currency pairs, silver and gold

- no swaps

- Market Execution

- margin call is 25%

- stop out is 15%.

Forex indicators (recommended)

- Instant Trend Line

- Silver Trend Signal

- Price Channel

- Ind TD DeMark

- Anchored Momentum.

Forex expert advisors (recommended)

- Forex EA Better (an automatic Forex expert advisor that has a range of tools to analyze the foreign exchange market. It is able to select its own trading strategies, based on historical data of previous transactions, which allows it to get good profits)

- Forex Wallstreet EA (an automatic Forex expert advisor that has many various settings, so it is primarily suitable for experienced traders, who can set it up to trade currency pairs profitably)

- Ilan (an automatic Forex expert advisor, which is very easy to use and suitable even for beginners. This expert advisor uses the well-known Martingale method for trading on the Forex market, which allows getting good profits).

Investments

Nowadays the company OctaFX does not provide its customers with PAMM accounts that allow investing funds in professional managers. PAMM accounts focus on transparent investing finances and monitoring of all activities of managers. If any customer decides to transfer his funds directly to successful traders, the company OctaFX does not bear responsibility for his actions in case of any disputes.

Unique features

The brokerage company OctaFX provides clients with the unique calculator for trading on the Forex market. This calculator is used for calculation of margin, swaps, points and many other parameters, which greatly facilitates operations on the foreign exchange market.

The company OctaFX also offers its clients additional earnings on the foreign exchange market, which have no risks. Such income is possible to be received in the case of registration in the affiliate program of OctaFX, becoming a partner of the broker. The main task of the partners is to refer new customers to the company. The company provides partners with all the necessary advertising materials that will allow doing this with high efficiency. The income of the partner consists of the number of referred clients and their activity on the Forex market.

Payouts in the affiliate program:

- from 1 to 4 clients - $1 per 1 lot

- from 5 to 14 clients - $3 per 1 lot

- from 15 to 29 clients - $6 per 1 lot

- from 30 to 59 clients - $9 per 1 lot

- from 60 to 99 clients - $12 per 1 lot

- over 100 clients - $15 per 1 lot.

Payouts for partners are made every month and they can always monitor statistics on their personal accounts.

Add/withdraw funds

The company OctaFX offers traders to fund accounts and withdraw finances from them using the following methods: cashU, fasapay, Skrill, Neteller, UnionPay, Master Card, Visa, Wire Transfer.

Contacts

The clients of the company OctaFX can contact professionals from the support service and ask them any questions relating to the opening of the trading account and online trading. Traders can contact them by e-mail [email protected], via online chat and via international phone 1-800-815-304.

Cons and pros

+ the broker that is famous in Europe and Asia

+ the minimum deposit is $5

+ small spread

+ good leverage

+ many promotions and contests

- few learning materials.

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