OctaFX Review – Is OctaFX Trustpilot Accredited?
If you are in the market for an online Forex trading broker, you’ve probably heard of OctaFX. The company provides award-winning customer support. It offers a toll-free phone line and lives chat to resolve customer queries. The company also offers market news, research, and an economic calendar. And it complies with international financial regulations.
Decent trading conditions
If you’re looking for a forex broker with decent trading conditions, look no further than OctaFX. This non-dealing desk STP/ECN broker guarantees tight spreads, zero slippage and no re-quotes. It also offers leverage up to 500:1 and micro-lots. However, some of their products are unavailable to traders in certain countries.
One of the most important things to look for when choosing a forex broker is the size of the commission that each broker charges. Traders Union researchers have noted that the amount of commission a broker charges can greatly affect the effectiveness of Forex trading. OctaFX charges a trading fee of the spread and is fixed at $2-3 per traded lot. In addition, the broker does not charge non-trading commissions or fees associated with payment systems.
The OctaFX website contains a wealth of information, including educational materials. It also offers a demo account that allows you to try the platform before investing.
Comfortable working environment
OctaFX is not a publicly traded company and does not run a bank. Therefore, it is not regulated by a tier-1 high trust or tier-2 medium trust authorities. However, its customer service is available 24 hours a day. The company’s support can be reached via email, phone, and live chat. The company also offers regular mail support.
Lack of reputable licenses
If you’re looking for a trusted broker, it’s imperative to check out the legitimacy and regulation of a broker’s license. While OctaFX was granted regulatory status in Cyprus, the company has not been properly licensed and regulated. In addition, OctaFX is not a member of a reputable tier-1 regulatory body. That’s a red flag that traders should be aware of.
OctaFX’s website includes a section with basic trading information and a section with information on its services and conditions. It also offers a free demo account, a great way to get a feel for the trading platform before investing real money. OctaFX also offers 24-hour customer service, which is helpful if you have questions. You can contact them via live chat, phone, or email. They also have a FAQ section where you can get answers to common questions.
Lack of educational offerings
One thing that OctaFX does have going for it is an in-house education centre. The website contains tutorials, market research, and trading signals. It also features video content, including videos explaining forex terminology. OctaFX’s customer support is also very good, but the website could use more educational material. For example, it could include a trading glossary and a blog.
OctaFX was founded in 2011 and is a well-regarded broker in the industry. The company is regulated by CySEC and has won several awards for quality service. The FCA previously regulated the company but dropped that license after the Brexit vote.
OctaFX is an online trading platform based in Cyprus and regulated by the FCA. This means that it complies with some of the strictest regulations in the world. It also makes use of segregated funds to protect its clients’ money. This means that clients’ funds are kept separate from their brokers.
OctaFX offers a wide range of features to cater to different trading requirements. For example, it lets you connect with an unlimited number of strategy providers, create a diversified trading portfolio, and enjoy a stable income. Moreover, you can easily unsubscribe or close your account if you’re not making enough profit. You can customize your account and use up to 28 chart timeframes.
OctaFX offers a variety of withdrawal options, including Bitcoin and Ethereum. They also accept credit or debit cards and electronic payment services such as Skrill and Neteller. In addition to this, you can withdraw funds from your account through a bank transfer or ATM.