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In-depth OctaFX broker review
Publicated by Lisa Harper: 22 / 09 / 2021
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
WARNING! Risk disclaimer (more information)
Updated: Sep 29, 2021
$50
1:500
MIN. DEPOSIT :
2011
FOUNDED IN :
MAX. LEVERAGE :
YES
BONUSES :
FREE
DEMO ACCOUNT :
WEBSITE :
Octafx
It has been offering brokerage services for more than 10 years, and the number of active users continues to grow at a rapid pace. A wide number of liquidity sources are used by the broker, resulting in better aggregate pricing for its clients. Octafx's servers and data centres are located in Europe and Asia, ensuring low latency and consistent connectivity for its customers. Orders are executed at the market price in less than 0.1 seconds using an ECN/STP mechanism.

This review is dedicated to traders from India and to the recovery of the question – is OctaFX legal in India? We well also go through other sagnifically important point of the brokerage.
OctaFx official site
OctaFx official site
On the broker's official website, you may find the following information:
    Currently, there are more than 6,6 million active trading accounts on the market;
    Transactions totaling more than 500 million were successfully executed;
    Customer assistance from over 100 countries is also available to you.
    38 worldwide honours from forex brokers industry professionals.
    Visit the broker's official website:

    Is OctaFX legal in India?

    There are several questions about OctaFX's legality in India - lets review this query closely. Considering the RBI's limits on currency trading in India, some people may wish to be sure users can trade with OctaFX. In order to address your concerns regarding OctaFX, we've prepared this review of the broker OctaFX.

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    OctaFx minimum deposit
    Website of broker claims that it is completely compliance with international law and has the right to operate globally.
    Securities and Exchange Board of India (SEBI) does not operate with OctaFX as with other regulated brokers. In any case, OctaFX is a global corporation. In accordance with his registration, the broker can provide financial services to customers all over the globe.
    Visit the broker's official website:

    Is trading with OctaFX in India safe?

    Since we already know is OctaFX legal in India, the answer is yes, trading experience with OctaFX in India is secure. Additionally, the broker employs sophisticated SSL encryption to secure customer information in addition to keeping client funds in separate bank accounts. Traders' financial information is also protected by a two-step authentication factor and a 3D visa.

    Clients are also free to trade currency derivatives because the broker does not only limit them, but provides a comprehensive customer service. As well, the Reserve Bank of India permits Indian traders to trade currency futures in Indian rupee pairings. Maybe that's only one of the reasons why OctaFX hasn't run into an RBI yet?
    OctaFx bonus
    OctaFx bonuses
    Visit the broker's official website:

    What makes OctaFX reputable and legitimate?

    Forex broker OctaFX is known for several reasons. For your knowledge, here are a few things to think about:
    Customer comments:
    OctaFX is highly popular among Indian traders. It is possible to read favorable reviews from the OctaFX's clientele on numerous social media networks.
    Transparency:
    The most transparent information is provided by the broker What he says on his website is there is to know about trading costs and commissions.
    It turns out we closed the query is OctaFX legal in India. Not just in his own nation, but also throughout the world, this broker has a stellar reputation thus far. In spite of the absence of oversight by SEBI or other major regulatory organisations, it has survived and continues to flourish.
    Visit the broker's official website:

    Trading forex with OctaFX is safe and secure – brief trading conditions

    OctaFX offers minimal spreads, different ways of replenishment and withdrawal without commission, and negative balance protection. For consumers, there is a large variety of trading instruments accessible. It is possible to trade cryptocurrencies such as Bitcoin, Bitcoin Cash and Ethereum, as well as commodities and CFDs. Any Internet-enabled device may use the terminals, which include one-click trading, sophisticated visuals, and trend analysis. OctaFX protects its clients' transactions and personal data with sophisticated technology. To protect the user's personal account, they utilise SSL and 128-bit encryption, as well as 3D secure technology when processing credit and debit cards.
    The broker offers MetaTrader 4 and MetaTrader 5 as well as the renowned cTrader platforms trading interface to its clients. The mobile and desktop versions of all of these apps are only available. Without needing to download the programme, you may trade immediately through a web browser.
    The broker offers MetaTrader 4 and MetaTrader 5 as well as the renowned cTrader platforms trading interface to its clients. The mobile and desktop versions of all of these apps are only available. Without needing to download the programme, you may trade immediately through a web browser.
    OctaFX services that are useful:
    A chartist
    With a trend prediction accuracy of more than 83 percent, the free automated notifications are compatible with both MT5 and MT4 platforms.
    The trading tools of a trader
    You'll find useful tools like profit and trade calculators, real-time prices, and a ranking of the finest trading accounts accessible for copying on the site.
    Analytical tools
    Included in this area are the following: market information, an economic calendar and market analysis; forex news; interest rates; and a holiday calendar.
    Visit the broker's official website:

    OctaFX has the following advantages:

    Legal in India
    With large leverage, you can trade. One-to-five hundred currency pairings is the maximum size
    Secure SSL protocol, licences, and segregated accounts provide high levels of safety for clients' funds and data (personal and payment)
    With the capacity to limit risks, a deal copying platform is now accessible
    These include market analysis, Forex news, and real-time quotations
    On-line operators answer queries and handle technical issues in a chat room
    No trading methods are not prohibited by the broker. In all accounts, hedging, scalping, news trading, and advisors are allowed
    Visit the broker's official website:

    OctaFX account types review

    OctaFX offers three different sorts of accounts: standard, premium and VIP. The broker says that the MT4 Micro is the most popular choice among novice retail traders from emerging and frontier forex markets, and verifies its popularity. Traders may access 39 assets with a maximum leverage of 1:500 with a $100 initial deposit.
    There are 45 trading instruments making available on the MT5 Pro account but it needs a $500 OctaFX minimum deposit and higher margin requirements. Both options are free of charge. An account with commission-based trading on cTrader may be acquired for only $100. 30 assets are available only, however it has a maximum leverage of 1:500, compared to 1:200 in the MT5 account. Hedging and scalping are both options that have no limits.
    OctaFX offers three different sorts of accounts: standard, premium and VIP. The broker says that the MT4 Micro is the most popular choice among novice retail traders from emerging and frontier forex markets, and verifies its popularity. Traders may access 39 assets with a maximum leverage of 1:500 with a $100 initial deposit. There are 45 trading instruments making available on the MT5 Pro account but it needs a $500 OctaFX minimum deposit and higher margin requirements. Both options are free of charge. An account with commission-based trading on cTrader may be acquired for only $100. 30 assets are available only, however it has a maximum leverage of 1:500, compared to 1:200 in the MT5 account. Hedging and scalping are both options that have no limits.
    OctaFX MetaTrader 4
    A standard trading account with 32 currency pairings, CFDs on gold and silver, energy resources, 4 indices, and 5 cryptocurrencies is available to traders. This allows traders to select the spread type that best suits his trading style. Starting from 0.6 pips, the EUR/USD has a floating spread. In every given market scenario, the fixed spread is equal to 2 points.
    OctaFX MetaTrader 5
    It's suggested that you open a professional account for advanced trading. Most assets available: the broker has added six additional indices to the ones listed above, bringing its total to 15. It's a floating spread, starting at just 0.6 pips.
    OctaFX cTrader
    ECN account for experienced traders for whom maximum pricing transparency is important. Through cTrader it is possible to make transactions with 28 currency pairs, gold and silver. Cryptocurrencies and CFDs are not available. Currency pairs and precious metals will charge $2-3 per lot, depending on the asset selected. Depending on the selected assets.
    A standard trading account with 32 currency pairings, CFDs on gold and silver, energy resources, 4 indices, and 5 cryptocurrencies is available to traders. This allows traders to select the spread type that best suits his trading style. Starting from 0.6 pips, the EUR/USD has a floating spread. In every given market scenario, the fixed spread is equal to 2 points.
    OctaFx MetaTrader 4
    It's suggested that you open a professional account for advanced trading. Most assets available: the broker has added six additional indices to the ones listed above, bringing its total to 15. It's a floating spread, starting at just 0.6 pips.
    OctaFx MetaTrader 5
    ECN account for experienced traders for whom maximum pricing transparency is important. Through cTrader it is possible to make transactions with 28 currency pairs, gold and silver. Cryptocurrencies and CFDs are not available. Currency pairs and precious metals will charge $2-3 per lot, depending on the asset selected. Depending on the selected assets.
    OctaFx cTrader
    Visit the broker's official website:

    Demo Accounts of OctaFX review

    The Forex market gives traders a lot of potential, but it also comes with a lot of risk. As a result, it's recommended that you establish a risk-free trial account before you invest real money. Demo trading with OctaFX is identical to trading with a real account. The main difference is that with a Forex demo account, the funds are simulated rather than real money. It's entirely risk-free because you're not trading with real money.
    OctaFx webterminal
    OctaFx terminal
    Practicing with limitless demo money will help you learn how to make trades and what your risks are. It allows you to do the following with all of the capabilities of a genuine account:
    You may use it for free to test your trading methods and scalping bots, as well as make risk-free trades as many times as you like;
    Trade with virtual money: even though it's a trading simulation, they nevertheless give you with genuine trading signals that are also free;
    Learn how to interpret charts and use chart objects, levels, Fibonacci retracement levels, and other elements of the trading platform;
    Experiment with different order kinds.
    Visit the broker's official website:

    Creating a Muslim Account

    One of the top islamic accounts in the business is also offered by OctaFX.

    During rollover, the Islamic account does not employ a swap, but instead uses a set commission. Unlike a percentage commission, this one is based on the direction of your position.

    On all of their trading accounts stated above, this account is available. When you register with your broker, simply tick the "Swap Free" option.
    For a given deal, the commission may be calculated here. At the bottom of the page, you'll find a useful tool that allows you to pick your asset, transaction size, and account. This will give you an idea of how much you'll have to shell out.
    Visit the broker's official website:

    OctaFX mobile trading review

    One of the greatest Android applications for trading is MT4/5 and cTrader. As a result of this, OctaFX Markets has created a mobile application for traders. Customers of OctaFX are able to trade on any Android smartphone. Clients or dealers might not take advantage of the fact that it's mobile. When utilising mobile devices to make orders, it's possible that OctaFX clients won't be able to do any basic technical analysis on a complete chart. Using Excel on a mobile phone, customers will be able to create Candlestick, Line, Bar, and Tick Charts.
    One of the greatest Android applications for trading is MT4/5 and cTrader. As a result of this, OctaFX Markets has created a mobile application for traders. Customers of OctaFX are able to trade on any Android smartphone. Clients or dealers might not take advantage of the fact that it's mobile. When utilising mobile devices to make orders, it's possible that OctaFX clients won't be able to do any basic technical analysis on a complete chart. Using Excel on a mobile phone, customers will be able to create Candlestick, Line, Bar, and Tick Charts.
    OctaFx trading app
    Indicators may be added, broker clients can get messages and market news and can read and observe broker news. Orders of all types can be placed. Features such as time frame adjustments, access to Trading History, and mobile access to online trading are convenient and helpful.
    The MetaTrader 4/5 mobile app provides rapid access to the current market conditions. Naturally, the program's primary purpose is to trade on the foreign currency market, and it boasts some of the most sophisticated charts of any mobile app.
    Visit the broker's official website:

    OctaFX Fees and commissions review

    The commission and costs charged by OctaFX vary based on which of the three accessible account types is selected: MT4 Micro, MT5 Pro, or the cTrader ECN account. Overall, OctaFX fails to compete with the lowest cost MetaTrader brokers in terms of price.

    A typical EUR/USD spread of 0.7 pip is mentioned for the MT4 Micro account, whereas the EUR/USD spread for the MT5 Pro account is somewhat larger at 1.1 pip.

    OctaFX's cTrader ECN account has fewer product options than its other account types, with only 28 currency pairs and two metals. Commission-based fee structure of $6 per round-turn standard lot ($3 per side) is added to normal spreads of 0.4 pips to bring the all-in cost to 1 pips.

    In the struggle between MetaTrader 5 and cTrader, the MT5 Pro account stands out since it is priced comparable to the cTrader ECN account, but provides nearly twice as many tradable products.
    Visit the broker's official website:

    OctaFX minimum deposit and withdrawal options review

    According on the type of account you're opening, the OctaFX minimum deposit amount varies. One hundred dollars for a micro account on MetaTrader 4, five hundred dollars for the pro account, and one hundred dollars for the ECN account on cTrader.
    OctaFX crypto
    According on the type of account you're opening, the OctaFX minimum deposit amount varies. One hundred dollars for a micro account on MetaTrader 4, five hundred dollars for the pro account, and one hundred dollars for the ECN account on cTrader.
    OctaFX accepts credit/debit cards, Skrill, Neteller, and Bitcoin as methods of payment for trading. Despite the fact that the variety is restricted, it is suitable for the majority of investors. OctaFX does not charge for deposits or withdrawals, however third-party fees may apply. OctaFX minimum deposit and withdrawal are processed quickly, however it may take some time for the funds to reach the trader's account or e-wallet.
    Visit the broker's official website:

    How to open and login into Account at OctaFX

    Please follow the steps below to establish a trading account:
    1
    Click the "Open Account" button on the toolbar
    OctaFx login
    The button to open a new account is placed in the upper right corner. To access the registration form, click on the signup page link if you cannot find it. Later you will need this OctaFX page to login into your Personal Area.
    The button to open a new account is placed in the upper right corner. To access the registration form, click on the signup page link if you cannot find it. Later you will need this OctaFX page to login into your Personal Area.
    OctaFx login
    2
    Fill up your contact information
    OctaFx login
    Upon clicking on the "Open Account" button, you'll be presented with a registration form that asks for your personal information. This info will be used by you later to login to your OctaFX account. Then click the "Open Account" option below the form to proceed. Enter your Facebook or Google account credentials to login onto OctaFX if you've chosen this option.
    Upon clicking on the "Open Account" button, you'll be presented with a registration form that asks for your personal information. This info will be used by you later to login to your OctaFX account. Then click the "Open Account" option below the form to proceed. Enter your Facebook or Google account credentials to login onto OctaFX if you've chosen this option.
    OctaFx login
    Your email address must be verified before you can continue.

    After filling out the form and submitting it, you'll receive an email confirmation. Upon finding and opening the email, click the Confirm button to confirm your actions. Now you can login onto the OctaFX platform.

    Then, fill out your personal information.
    OctaFx login
    Your personal information will be collected when you confirm your email. In addition, the information given must be up-to-date and correct as well as meet KYC criteria and be verified. The age requirement for trading Forex must be met.
    Your personal information will be collected when you confirm your email. In addition, the information given must be up-to-date and correct as well as meet KYC criteria and be verified. The age requirement for trading Forex must be met.
    OctaFx login
    In the meanwhile, you can complete the verification procedure before making your first OctaFX minimum deposit.
    Visit the broker's official website:

    How can I login to my account on OctaFX?

    1
    Go to the OctaFX mobile app or the OctaFX website
    2
    Click "Login"
    3
    You'll need to enter your email address and password to continue
    4
    Click the blue "Login" button
    5
    In order to log in using a social network, click "Facebook" or "Gmail"
    6
    If it happens that you have forgotten your password, click "Forgot password" and recover it following the instructions
    Visit the broker's official website:

    Final thoughts

    Is OctaFX legal in India? That was the purpose of this overview. We discovered that YES.

    Also OctaFX is a competent firm that cares for its traders and its reputation, according to a thorough assessment of the company's official website and independent reviews. Comparing OctaFX with other online trading platforms and other brokers was a priority for us. More over, the firm has a very good customer support.
    As a bonus, this broker offers a free trial account and a wealth of instructional information for newbies. There were many more positives than disadvantages, therefore OctaFX is highly recommended as a reputable broker.
    As a bonus, this broker offers a free trial account and a wealth of instructional information for newbies. There were many more positives than disadvantages, therefore OctaFX is highly recommended as a reputable broker.
    Visit the broker's official website:
    $50
    1:500
    MIN. DEPOSIT :
    2011
    FOUNDED IN :
    MAX. LEVERAGE :
    YES
    BONUSES :
    FREE
    DEMO ACCOUNT :
    WEBSITE :
    Octafx