OctaFX-Some Important Points about This Broker

Note: OctaFXs official site - https://www.octafx.eu/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature	Detail
Registered Country/Region	Cyprus
Regulation	Regulated by CYSEC
Market Instrument	forex pairs, CFDs on commodities, indices, precious metals and energies
Account Type	Standard
Demo Account	N/A
Maximum Leverage	1:30
Spread (EUR/USD)	Average 0.5 pips
Commission	N/A
Trading Platform	MT5
Minimum Deposit	$100
Deposit & Withdrawal Method	Visa, MasterCard, bank transfers, Skrill

OctaFX is regulated under Octa Markets limited in St. Vincent and the Grenadines (SVG) and Octa Markets Cyprus Limited in Cyprus. European clients will choose the broker‘s EU entity, whereas international clients are served by OctaFX’s entity in Saint Vincent and The Grenadines (SVG). In Cyprus, it is duly recognized and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18 and registration number HE359992.

Note: The screenshot date is January 17, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

OctaFX advertises that it offers a wide range of trading products which include forex pairs, CFDs on commodities, indices, precious metals and energies.

Account Types

OctaFX seems to only offer a single Standard account with a minimum initial deposit requirement of $100. The account is swap-free - it doesnt charge an overnight fee from traders.

Leverage

The leverage is capped at 1:30. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

OctaFX claims that the average EUR/USD spread is 0.5 pips.

Trading Platform Available

The platform available for trading at OctaFX is one of the most notable and preferred trading platforms the market offers - MetaTrader5. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

Clients of the brokerage may deposit or withdraw via Visa, MasterCard, bank transfers, as well as Skrill. The minimum initial deposit requirement is said to be $100.

Customer Support

OctaFXs customer support can be reached by telephone: +357 25 251 973, email: upport@octafx.com. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and YouTube. Company address: 1, Agias Zonis and Thessalonikis Corner, Nicolaou Pentadromos Center, Block: B', Office: 201, 3026, Limassol, Cyprus.

Pros & Cons

Pros	Cons
• Regulated by CYSEC	• Website inaccessible
• Wide range of trading instruments
• MT5 supported

Frequently Asked Questions (FAQs)

Q 1:	Is OctaFX regulated？
A 1:	Yes. OctaFX is regulated by Cyprus Securities and Exchange Commission (CySEC).

Q 2:	Does OctaFX offer the industry-standard MT4 & MT5？
A 2:	Yes. OctaFX supports MT5.

Q 3:	What is the minimum deposit for OctaFX？
A 3:	The minimum initial deposit with OctaFX is $100.

Q 4:	Is OctaFXa good broker for beginners？
A 4:	Yes. OctaFX is a good choice for beginners. It is regulated well and offers competitive trading conditions on the leading MT5 platform, but somehow its website is unavailable currently.