Octa

Octa is a well-established broker since 2011. Octa has headquarters in Cyprus, St. Vincent & Grenadines and Nigeria. Octa to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by CySEC 372/18 and SVGFSA19776 IBC 2011.

Octa is an international Forex broker that operates worldwide. The domain belongs to a group of companies called Octa Markets Incorporated which is registered with St. Vincent and Grenadines FSA. Currently, the company focuses on Asian, South African, and Australian markets. Octa.com does not accept European clients as this market is specifically appointed to Octa.eu (regulated by CySEC)

In a show of good faith, Octa segregates all funds from the company’s operating capital and offers negative balance protection to all its clients. No regulatory oversight also means that Octa can offer higher leverage and bonuses to traders, which may be attractive to some.

Octa Summary

Account Information

• Apart from the forex demo account, this broker offers OctaFX MT4 and OctaFX MT5. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by Octa is up to 1: 500 Meanwhile, you can open an account with a starting capital of $25.

  There are two levels of trading account:

  • MT4 Micro: The minimum deposit at Octa is $25 while the minimum lot size across all accounts is 0.01 lots. It also allows you to use hedging and scalping strategies alongside Expert Advisors (trading robots) to monitor the market. Commissions are built into the variable spreads. Traders can easily build the system around their own trading strategy, with pending orders, one-click trading, mobile trading, automated trading, and trailing stop options. Overnight premiums, or swaps, are also charged.
  • MT5 Pro: The minimum deposit required to open an account is $500 while the minimum position size is 0.01 lots. but clients are provided with a range of competitive features, such as trailing stops, pending orders, one-click trading, mobile trading, and automated trading. The account allows Expert Advisors, hedging, and scalping, ideal for professional traders. MT5 Pro takes money from variable spreads.

Fees

Octa charges a combination of spreads, commissions, and swap rates:

• MT5 Pro Account’s current spread is significantly higher but it does not charge swap, though a fixed three-day fixed cost applies.
• The MT4 Micro Account offers free commissions starting from 0.4 pips for EUR/USD, which ranks among the best available offers in today’s industry. In addition, swap does not apply to overnight positions for Islamic Accounts traders. This account structure complies with Sharia law.

Instruments Traded

Besides lots of currency pairs, Octa also offers some instruments you would like to trade on, such as Forex, Gold & silver, Indexes, Energies and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

Octa maintains 51 assets in total:

• 32 currency pairs
• 4 commodities
• 10 index CFDs
• 5 cryptocurrency pairs

Payment Methods

Payment can be made using most major credit/debit cards, Skrill, Neteller, and Bitcoin. There are no payment fees, but third-party costs may apply. The processing times of deposits and withdrawals are fast, but it may take additional time to arrive in the trader’s account or e-wallet.

Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, a price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitability by placing well-planned trades.

Hereby, Octa offers you MetaTrader 4, MetaTrader 5, Web and Social trading.

All three platforms include automated trading features that can be accessed via the desktop client, web browser, and mobile. The broker also provides trading signals via Autochartist Pro on MT4/MT5 trading platforms, offering advanced daily updates, insights, and analytics.

• MT4: The flexibility of the MT4 trading platform means that both experienced traders and newcomers can easily adapt the 20,000 third-party customized technical indicators and electronic advisors (EAs), many free of charge. However, once you invest in necessary upgrades to unlock the complete functionality of MT4, only then you can enjoy the competitive, cutting-edge version.
• MT5: MT5 trading platform remains the only one where all assets are available for trading. 

Unique Features

Octa is fast, reliable and comes with 3 unique features, including:

• Silver status and above traders may also protect their investment using the Autochartist Pro as an automated trading assistant. Information about what is required to achieve this status appears to be available only to registered traders from inside their back office.
• Traders get the opportunity to participate in the broker’s weekly and monthly demo contest to earn real cash between $500 and $1,000, which is then deposited into a live trading account. Make sure to check all the risks while understanding they may not win before participating in trading contests.
• Octa has rolled out a modern copy trading service that allows so-called Master Traders to earn an additional income from their strategy. Professional traders interested in sharing their strategies to be copied will benefit from this service. Master Traders can create multiple master accounts for different strategies, and have the freedom to adjust commissions.

  Research and Education

Other than a comprehensive analytics section, Octa offers many additional tools or user-friendly educational resources:

• • Autochartist: trading signals.
  • Market Insights, Forex News, and Technical Analysis: traders will discover in-house research and market commentary published by Octa. They are updated frequently, consist of written content and charts, and represent a quality addition to the products available at this broker.
  • Economic Calendar, Interest Rates, and National Holidays: a quick overview of market-related events.
  • The Profit and Trading Calculators: allow traders to manage their trading strategy before placing trades.
  • Forex Basics: consists of quality written content, charts, and some include numerous videos. While often brief, the content has educational value and offers new retail traders an excellent introduction to trading.
  • The Tutorials: section focuses on Octa-specific guides.
  • Video Tutorials: cover MT4/MT5, the personal area of Octa, and Octa Copytrading.
  • FAQ section and a Glossary: aim to answer the most common questions and introduce terminology. Manuals: obtain more specific assistance regarding the three trading platforms, related tools and services, and Autochartist.
  • Webinars: hosted by Octa as an educational portal.

Bonuses and Promotions

Octa runs promotional events:

• 50% bonus on each deposit.

• Two demo contests award real cash.
• The Trade & Win incentive rewards clients for trading activities with various prizes.

Customer Support

Do you have any question or find any trouble related to Octa? If you do, you should reach Octa’s support to get the information that you need. Here is the detail of the broker’s customer support:

Octa customer support is available 24/7. The team can be contacted via live chat, Telegram, call, or webform. Octa ensures swift access to a customer services representative in case the unlikely need for additional assistance arises.