OctaFX was founded in 2011, headquartered in Jakarta, Indonesia. Their mission is to create a cost-effective forex trading experience where Forex traders, new and professional, can earn more with the same investment. Every year OctaFX improves its conditions and standards in an ongoing effort to make trading efficient and profitable.
Because of the features they offer to traders, OctaFX have accomplished many achievements. More than 250 million transactions have been executed through the broker’s platforms. In addition, they now have more than 1 million real trading accounts for traders from more than 100 countries around the world.
OctaFX offers their traders a group of professional trading platforms where transactions are executed quickly and without any delay. According to the broker’s statistics, more than 99% of transactions are executed in less than a second.
OctaFX focuses mainly on the cost factor. They lower their costs in order to increase the profits of traders. This is shown in the offers and bonuses provided by them, in addition to not charging any commissions, only the spread, which is also very low compared to other brokerage companies.
During their career, OctaFX has won numerous awards in various areas including customer service, trading platforms, analysis they provide and more. These awards include:
- Best Forex ECN Broker 2017
- Best Trading Conditions 2016
- Best Islamic Account Forex Broker 2015
OctaFX Unique Features
One of the things that make OctaFX ahead of brokerage firms is that they invest in traders. They provide a flexible trading environment with many tools and trading conditions that help traders to earn more. They are, therefore, very sensitive to the cost factor, as they reduce their costs in order to increase the profits of traders.
They have a number of high-quality platforms that provide traders with a comfortable and easy trading environment. They also provide their customers with a group of smart trading tools that help them to make the best trading decisions and achieve more profit.
OctaFX also has a professional team of managers, analysts, market experts and administrators who are continuously trained to be able to provide the best services, and achieve the company’s strategic objectives.
They also provide traders with a set of educational tools to suit all levels, from beginners to experts. These tools are presented in a neat and simple way, to make it easy for the reader. Such tools include educational videos, e-books and webinars. Moreover, the website of the broker is organised, easy to handle and is available in different languages to serve customers from different parts of the world.
Trusted and Regulated
Integrity is one of OctaFX’s main objectives. They operate in an organised and authorised environment. They have obtained many licenses to carry out their business legally. They are subject to supervision and control by a number of international financial institutions including:
- The Financial Conduct Authority FCA
- International Financial Services Association IFSA
Reliability and Safety
OctaFX adheres to strict safety standards in order to protect clients’ funds and to create a safe trading environment. All clients funds deposited with them are fully segregated from the company’s own funds, and are kept in separate bank accounts. This ensures that funds belonging to clients cannot be used for any other purpose.
They provide protection from negative balance in times of extreme fluctuations, so that the customer is not obliged to pay it if such case happens. OctaFX also uses high-quality technology to encrypt their website in order to ensure the security of the clients’ personal information.
Withdrawals and Deposits
In order to provide a complete comfort to clients, taking into account the individual differences among traders, OctaFX offers their clients multiple ways to deposit and withdraw funds including bank transfer, credit cards and a selection of e-wallets. It is also considered to be one of the few companies that allow withdrawals and deposits using Bitcoin.
The broker does not take any commission on withdrawals and deposits, and they accept small deposits where the minimum is $5. In order to make the process of deposit and withdrawal more secure, the broker imposes traders to withdraw money through the same method of deposit. They also do not accept deposits through third parties, they only accept payment if it carries the same person’s name as it is shown in their legal documents.
More Than 200 Financial Instruments to Trade
This broker allows their clients to trade on more than 200 different financial instruments, divided into 6 asset groups including Forex. There are more than 50 major and minor currency pairs available for trading with low spreads starting at 0.4 and with a leverage up to 1:500.
OctaFX also allows their clients to trade in stocks, indices, futures and spot metals with competitive spreads and a leverage up to 1:50. Recently, they have listed many of the most popular Cryptocurrencies to trade through its platforms, including Bitcoin and Ethereum.
They offer their customers 3 types of accounts (Micro, Pro and ECN) in order to suit their different needs. These accounts differ in terms of minimum deposit and allowed leverage as well as spread.
The broker uses a number of platforms to serve their clients including the most popular platforms MT4 and MT5, in which orders are done quickly and easily almost without any problems. cTrader platform is another professional platform used by OctaFX. It offers many additional features and professional tools not found on other platforms, such as trading volume and market profile.
OctaFX also offers the possibility of trading through smartphones depending on the platforms MT4, MT5 and cTrader, that allows traders to be able to trade anytime, anywhere. Through smartphones trading, the trader can execute orders, modify them, control charts and use technical indicators, in addition to, follow up on all the latest market developments at any time.
Outstanding Customer Support
As part of the OctaFX strategy of supporting and empowering customers, they make every effort to achieve perfect customer service and this appears in many aspects. They provide 24-hour customer support for 5 days a week in 12 different languages, to serve clients of different languages and nationalities. They use many ways in customer support services including live chat, email communication and phone calls.
According to the broker’s statistics, the average customer satisfaction is 96%. In most cases, customers’ inquiries are answered within a maximum of 7 seconds and their issues are processed within 3 minutes.
They offer a group of promotions and bonuses. For example, they offer customers a 50% deposit bonus. So far, OctaFX has provided more than $2,500,000 as incentives to their customers. They also organise weekly competitions with valuable prizes for traders on the cTrader platform, as well as other special offers for demo accounts.
OctaFX offer their clients a range of unique technical and fundamental analysis through a group of the world’s best experts. They also offer a range of successful trading signals, all of this is provided for free.
The broker maintains the privacy and secrecy of their customer data. They do not give it to any third party without their permission. They also sponsor a number of community activities in many different fields such as education and health, as well as providing assistance to a number of humanitarian institutions.
The broker offer their customers a group of services that made it among the most preferred for many traders, these services include:
- Customer loyalty program: OctaFX give commission to traders who invite others to open an account in the company and give them a portion of the profits of these traders.
- Trading signals: OctaFX offer their traders the famous signal trading service (Autochartist). This service provides them with a set of strong recommendations that helps them in making significant profits and developing their expertise and skills.
Things to Improve
The broker offers its services to a large number of traders around the world who are constantly renewing their needs. During the course of its work there have been some improvements demanded by their clients, include:
- The broker should offer their services in other languages, as the number of 12 languages is few compared to other brokerage companies.
- They should focus their efforts on customers from other regions where most of their customers are currently from South Asia.
OctaFX said that they are studying all the customers’ needs and are making every effort to provide the best possible service.
To Sum Up
Looking back to the OctaFX’s record of achievements and the services they provide, as well as the awards they received during their short period of work, we can say that the company is one of the best Forex brokers. They are considered as an ideal option for those wishing to trade.