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OctaFX Review ☑️ South Africa Pros & Cons (Updated 2023)

by Theinsightpost
January 10, 2023
in Africa
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OctaFX Review ☑️ South Africa Pros & Cons (Updated 2023)


 

 

Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out 99.  OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings.

 

🔎 Broker 🥇 OctaFX
📌 Regulation SVGFSA
☪️ Islamic account (swap-free) ☑️ Yes
👍 Demo Account ☑️ Yes
📊 Institutional Accounts No
📊 Managed Accounts No
📈 Maximum Leverage 1:500
💰 Minimum Deposit $5 USD
Open an Account 👉 Click Here

 

OctaFX Review – A 10 Point Quick Overview

 

  1. ☑️ OctaFX Overview
  2. ☑️ OctaFX Pros and Cons
  3. ☑️How to open an OctaFX account – Step by Step Guide
  4. OctaFX Account Overview
  5. OctaFX Fees, Spread, and Commission Overview
  6. OctaFX Deposit and Withdrawal Options
  7. OctaFX Copy Trading Platform
  8. OctaFX Trading Platforms
  9. Conclusion
  10. Disclaimer
  11. Frequently Asked Questions

 

 

You might also like: OctaFX vs Exness

 

OctaFX – Overview

 

OctaFX is a Forex Broker that offers Forex ECN Trading, as well as CFD trading on Indices, Metals, and Cryptocurrencies across both the MT4 and MT5 trading platforms.  OctaFX offers a wide range of trading accounts and access to copy trading, bonus promotions, plus a wide range of research tools.

 

 

You might also like: OctaFX Sign up Bonus

 

 

OctaFX Pros and Cons

 

✔️ Pros ❌ Cons
Regulated by SVGFSA Limited assets
Unlimited demo account Low Crypto coverage
Advanced technology No VPS
Forex and CFDs offered No education tools on Forex
More than 80 pairs to trade No clients from USA, Canada, Belgium, or others outside EU

 

OctaFX Landing Page New

 

You might also like: OctaFX Minimum Deposit

 

 

How to Open an OctaFX Account – Step by Step Guide

 

Opening an OctaFX account is a straightforward process that only involves a few steps. To open a trading account, please, follow the step-by-step instruction:

 

1. Step 1: Press the Open Account Button.

 

The Open Account button is located at the top right of the OctaFX webpage.  A registration form can also be found via the signup page link.

 

OctaFX Account Step 1

 

2. Step 2: Complete Details.

 

After pressing the Open Account button, a registration form will appear.  Complete the required information and press the Open Account button located below the form.

 

OctaFX Account Step 2

 

3. Step 3: Email Account Verification.

 

After all the required details have been completed and submitted, a confirmation email will be sent to the applicant’s account.  After locating and opening the email – press Confirm.

 

Octafx Account Step 3

 

4. Step 4:  Complete Personal Details.

 

Once the applicant’s email has been confirmed, they will be directed to the OctaFX website to fill in their personal details.  The information provided by the applicant must be accurate, relevant, and up-to-date.

 

Octafx account step 4

 

5. Step 5: Select a Trading Platform.

 

The applicant must select between a real or demo account.

 

Octafx Account step 5

 

6. Step 6:  Complete Account Selection.

 

After choosing a platform, the applicant will press continue in order to finalize account creation.

 

Octafx Account Step 6

 

7. Step 7: Make a Deposit.

 

The account holder can now make their first deposit and the account has been successfully ☑️ created.

 

 

You might also like: OctaFX Demo Account

 

 

OctaFX Account Overview

 

📈 OctaFX Micro Account (Cent Account) 📉 OctaFX Pro Account 📊 OctaFX ECN Account 📈 OctaFX Islamic Account
For traders who want to trade on a small budget. US-based traders and traders from other parts of the world must make a $500 USD, R8000 ZAR minimum deposit. Minimum deposit of $100 USD, R1600 ZAR. Sharia law-compliant
Minimum deposit of $5 USD, R80 ZAR. For traders within the EU, a minimum of $100 deposit amount is required. Floating spreads. Sharia law-compliant.
Spreads are from 2 pips fixed spread or 0.4 pip floating spread. Spreads for trading with the MT5 trading platform start at 0.2 pips. Limited to trading metals and Forex only.
Spreads not available for all currencies. An overnight fee is charged every 3 days. $5 per lot commission on each trade.
👉 Click Here 👉 Click Here 👉 Click Here 👉 Click Here

 

OctaFX Account Comparison

 

You might also like: OctaFX Account Types

 

OctaFX Fees,  Spread, and Commission Overview

 

OctaFX fees spread, and commissions start from US Dollar $7 USD / R110 ZAR with spreads as 0.0 pips.   OctaFX trading fees are according to the type of live trading account chosen and the options along with the spread list, commissions and leverage are as follows.

 

OctaFX MT4 Micro Account Fees, Spread, and Commissions

 

💵 Asset 🔁 Spreads From 💳 Commissions 🔄 Swap Short (Points) 🔄 Swap Long (Points)
EUR/USD 0.6 pips ❌ No -1.90 -2.10
GBP/USD 0.9 pips ❌ No -4.80 -2.80
USD/JPY 1.0 pips ❌ No -3.70 -1.10
GOLD (XAU/USD) 1.8 points ❌ No -2.65 -5.83
DOW JONES (US30) 2.5 points ❌ No -8.00 -8.00
BITCOIN (BTC/USD) 2.8 points ❌ No -2.00 -2.00
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here 👉 Click Here

 

OctaFX MT5 Pro Account Fees, Spread, and Commissions

 

💵 Asset 🔁 Spreads from 💳 Commissions 🔄 Swap 🔄 Three Days Fee
EUR/USD 0.6 pips ❌ No ✖️ No -0.1
GBP/USD 0.9 pips ❌ No ✖️ No -0.1
USD/JPY 1.0 pips ❌ No ✖️ No -0.1
GOLD (XAU/USD) 1.8 points ❌ No ✖️ No -0.2
DOW JONES (US30) 2.5 points ❌ No ✖️ No -0.3
BITCOIN (BTC/USD) 2.8 points ❌ No ✖️ No -0.1
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here 👉 Click Here

 

OctaFX cTrader Account Fees, Spread, and Commissions

 

💵 Asset 🔁 Spreads from 💳 Commissions 🔄 Swap 🔄 Weekly Rollover
EUR/USD 0.4 pips $3/1Lot ❌ No -0.2
GBP/USD 0.4 pips $3/1Lot ❌ No -0.3
USD/JPY 0.4 pips $3/1Lot ❌ No -0.3
GOLD (XAU/USD) 1.2 pips $3/1Lot ❌ No -0.4
Open an Account 👉 Click Here 👉 Click Here 👉 Click Here 👉 Click Here

 

You might also like: OctaFX Fees and Spreads

 

Octafx Fees and Conditions

 

OctaFX Deposit and Withdrawal Options

 

OctaFX Deposit Methods

 

💳 Payment Method 💵 Recommended Minimum Amount 💰 Commission ⚙️ Execution Time
✅ Visa 25.00 USD ⤵️ Free ⚡ 1-5 Minutes
Accepted Currencies: USD, EUR – –
✅ Bitcoin 0.00037000 BTC ⤵️ Free ⚡ 3-30 Minutes
Accepted Currencies: BTC – –
✅ Skrill 50.00 USD ⤵️ Free ⚡ Instant
Accepted Currencies: USD, EUR – –
✅ Neteller 50.00 EUR ⤵️ Free ⚡ Instant
Accepted Currencies: EUR, USD – –
✅ Litecoin 0.30000000 LTC ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: LTC – –
✅ Dogecoin 230.00000000 DOGE ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: Doge – –
✅ Tether ERC-20 50.00000000 USDTE ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: USDTE – –
✅ Tether TRC-20 50.00000000 USDTT ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: USDTT – –
✅ Mastercard 50.00 EUR ⤵️ Free ⚡ Instant
Accepted Currencies: EUR – –
✅ Ethereum 0.02000000 ETH ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: ETH – –
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here

 

OctaFX Withdrawal Methods

 

💳 Payment Method 💵 Recommended Minimum Amount 💰 Commission ⚙️ Execution Time
✅ Visa 25.00 USD ⤵️ Free ⚡ 1-5 Minutes
Accepted Currencies: USD, EUR – –
✅ Bitcoin 0.00037000 BTC ⤵️ Free ⚡ 3-30 Minutes
Accepted Currencies: BTC – –
✅ Skrill 50.00 USD ⤵️ Free ⚡ Instant
Accepted Currencies: USD, EUR – –
✅ Neteller 50.00 EUR ⤵️ Free ⚡ Instant
Accepted Currencies: EUR, USD – –
✅ Litecoin 0.30000000 LTC ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: LTC – –
✅ Dogecoin 230.00000000 DOGE ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: Doge – –
✅ Tether ERC-20 50.00000000 USDTE ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: USDTE – –
✅ Tether TRC-20 50.00000000 USDTT ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: USDTT – –
✅ Mastercard 50.00 EUR ⤵️ Free ⚡ Instant
Accepted Currencies: EUR – –
✅ Ethereum 0.02000000 ETH ⤵️ Free ⚡ 3-30 Minutes
Accepted currencies: ETH – –
🚀 Open an Account 👉 Click Here 👉 Click Here 👉 Click Here

 

Octafx Deposit and Withdrawal

 

OctaFX Copy Trading

octafx copy trading

 

This is a new tool offered by OctaFX that helps traders earn an additional stable income by copying more experienced traders. You can find traders you are interested in following and ‘Copy’ Their positions. OctaFX offers an unlimited number of Masters to copy fr0m and also gives the trader full control over the process

 

OctaFX Trading Platforms

 

MetaTrader 4 Overview

 

The MT4 trading platform is available on Web, Desktop, Android, and iOS.

 

✔️Pros ❌Cons
Parent company is publicly traded: Gain Capital Holdings Inc. Stock CFD fees are high
Fees are low Limited product portfolio
Variety of currency pairs Not for beginners

 

MetaTrader 5 Overview

 

The MT5 trading platform is available on Web, Desktop, Android, and iOS.

 

✔️Pros ❌Cons
Excellent Interface Country Restrictions

 

 

Conclusion

 

Overall, OctaFX is known to be a highly competitive, trustworthy broker with a wide global reach and well-established reputation.

 

Disclaimer

 

The trading of financial instruments involves a high level of risk which may not be suitable for all traders. This level of risk may result in the loss of amounts that exceed the initial deposit.

Traders need to ensure that they can practice risk management along with evaluating their risk exposure and willingness to be exposed to risk. Should they need to, traders can consult independent professionals for additional advice before investing.

The products, services, and information supplied by OctaFX should not be regarded as encouragement or recommendation to invest in financial instruments and traders invest at their own behest, according to research in South Africa.

 

 

You might also like: OctaFX Islamic Account

 

 

Frequently Asked Questions

 

 

What is OctaFX Overall Review Rating?

 

The Overall Review rating for Octafx is 9/10.

 

How much is the minimum deposit for OctaFX?

 

You can start trading with this broker for a minimum deposit amount of $5. Note that the minimum deposit is subject to change depending on the region and payment method used.

 

Which OctaFX Live trading account is the best choice?

 

Which OctaFX Live trading account is the best choice will be dependent on the trader and their preferred trading platform and instruments.

 

What Leverage is offered by OctaFX?

 

Traders can select 1:1, 1:5, 1:15, 1:25, 1:30, 1:50, 1:100, 1:200 or, 1:500 leverage on MT4 or MT5.

 

Does OctaFX have an Islamic (Swap Free) trading Option?

 

Yes. OctaFX does have an Islamic or Swap-Free Forex trading option available to Muslim investors.

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.





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