OctaFX provides a range of trading account types tailored to different trader profiles, including beginners, retail traders, high-volume professionals, and fund managers.
Available accounts include the MT4 Account (ideal for habitual traders), and the Islamic Account (swap-free for Muslim traders). Advanced traders and money managers can access the MT5 Account, which offers higher leverage, lower margin requirements and additional benefits.
Each OctaFX account type has distinct pricing models and offers platform compatibility across MT4 and MT5.
The availability of the OctaFX account types is subject to Regulatory compliance, trader expertise, and regional restrictions.
What types of trading accounts are available at OctaFX?
The OctaFX account types are listed below.
- OctaFX Demo account
- OctaFX MT4 account
- OctaFX MT5 account
- OctaFX Islamic account
OctaFX MT4 Account: Best for habitual traders
The OctaFX MT4 Account is designed for habitual traders and offers access to over 70 assets. It requires a minimum deposit of $25 and provides leverage up to 1:500, with spreads starting from 0.6 pips. This account supports the MT4 platform and includes features like a 50% bonus for global clients, as well as copy and social trading options.
The features of the OctaFX MT4 Account are listed below.
- Availability: Under Saint Vincent and the Grenadines.
- Markets: Forex, commodities, indices, crypto: 70+ assets in total.
- Commissions: You will get charged spreads from 0.6 pips, if you are copying a signal provider’s trade, you will have to pay a master fee that’s decided by the provider.
- Platforms: MT4.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:500.
- Special features: 50% bonus for global clients; copy and social trading.
- Account opening: The MT4 account is available as a demo, while for a live account the minimum deposit is $25.
OctaFX MT5 Account: Best for advanced traders
The OctaFX MT5 Account is tailored for advanced traders by providing access to more than 70 assets such as forex, commodities, indices, and cryptocurrencies. Spreads start from 0.3 pips (CySEC) or 0.6 pips (SVG), and the account utilizes the MT5 platform, offering a 50% bonus for global clients under SVG regulation.
The features of the OctaFX MT5 Account are listed below.
- Availability: Under CySEC and Saint Vincent and the Grenadines.
- Markets: Forex, commodities, indices, crypto: 70+ assets in total (crypto are not available under CySEC).
- Commissions: Spreads are available from 0.3 pips (CySEC) or 0.6 pips (SVG); a master fee if you are copying a signal provider’s trade that’s decided by the provider.
- Platforms: MT5.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:30 (CySEC) up to 1:500 (SVG).
- Special features: 50% bonus for global clients (under SVG).
- Account opening: A demo version can be tested first. The recommended deposit to open a live account is $100 but, again, you can start with just $25.
OctaFX Islamic Account: best for Muslim traders
The OctaFX Islamic Account is intended for Muslim traders seeking swap-free trading in compliance with Sharia law. It provides access to over 70 assets, such as forex, indices, commodities, and cryptocurrencies. This account offers spreads from 0.6 pips and charges a fixed fee instead of interest, supporting both MT4 and MT5 platforms with leverage up to 1:500.
The features of the OctaFX Islamic Account are listed below.
- Availability: Under CySEC and Saint Vincent and the Grenadines.
- Markets: Forex, indices, commodities, crypto 70+ assets in total (crypto are not available under CySEC).
- Commissions: Spreads from 0.6 pips; a fixed fee for using a swap-free account.
- Platforms: MT4, MT5.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:500.
- Special features: No rollover fees; 50% bonus for global clients (under SVG); copy and social trading (under SVG).
- Account opening: To open the account, you should contact the broker.
How to compare the OctaFX trading accounts?
The table to compare the OctaFx trading accounts is shown below.
| OctaFX Account Types | Minimum Deposit ($) | Minimum Spread (pips) | Volume-based Commissions | Overnight Fees | Minimum Trade Size (lots) |
|---|---|---|---|---|---|
| OctaFX Demo Account | 0 | N/A | N/A | No | N/A |
| OctaFX MT4 Account | 25 | 0.6 | Spreads from 0.6 pips; master fee for copy trading | Yes | 0.01 (1 micro lot) |
| OctaFX MT5 Account | 25 (recommended 100) | 0.3 (CySEC) / 0.6 (SVG) | Spreads from 0.3 pips (CySEC) / 0.6 pips (SVG); master fee for copy trading | Yes | 0.01 (1 micro lot) |
| OctaFX Islamic Account | Contact broker | 0.6 | Spreads from 0.6 pips; fixed fee for swap-free | No | 0.01 (1 micro lot) |
What are the requirements to open an OctaFX account type?
The requirements to open an OctaFX account are listed below.
- Contact requirements: The contact requirements of OctaFX include a valid email address and a valid phone number
- Age requirements: The age requirement at OctaFX is that you must be over 18 years old to open an account
- Legal requirements: The legal requirements at OctaFX include complying with KYC laws by verifying your identity with documents such as a passport or utility bill.
- Minimum deposit requirements: OctaFX minimum deposit to activate a live trading account is $25
- Regulatory requirements: The regulatory requirements at OctaFX stipulate that you must be a resident in a country where the broker operates
- Knowledge requirements: The knowledge requirements at OctaFX include answering questions about your trading experience and financial knowledge before accessing complex financial products.
Do OctaFX account types charge inactivity fees?
No, OctaFX account types do not charge inactivity fees. Traders can keep their accounts open without worrying about penalties for inactivity, regardless of how long they remain unused. This applies to all OctaFX account tiers, ensuring that clients are not pressured to trade solely to avoid extra costs.
An inactivity fee is a charge some brokers impose if a client does not make any buy or sell orders in their accounts for a given period. OctaFX does not penalize traders for taking a break, so there’s no need to worry about such fees.
Demo accounts are trial accounts funded with virtual money, and traders using them owe nothing to the broker. Even if a demo account is abandoned, no OctaFX fees apply. These accounts serve only for practice and testing, and their inactivity has no financial impact on the user.