Taking a look at the CFD markets available from OctaFX, it is noted that they offer a little more than 70 assets in total. Some of them may not be available within every region or account type. With that said, they still offer good value in terms of trading conditions.
Here is a detailed look at exactly what is on offer.
OctaFX offers a total of 35 forex currency pairs for trading.
The spreads here start at an extremely competitive 0 pips with $5 per side per lot of commission, or from as low as 0.2 pips with no commission depending on your account type.
Leverage here stretches to 30:1 maximum within the EU, or up to 500:1 maximum outside that area depending on the country.
There are 5 commodities offered through the broker. These are Gold, Silver, WTI, Natural Gas and Brent Crude oil, with the oil commodities only being available to trade through MT5.
Leverage here reaches 20:1 in the EU, or as much as 200:1 outside the EU.
OctaFX offers a total of 10 indices. 4 of these are available for trading through MT4 and this offering includes major indices from the EU, US, Australia, and Japan.
The maximum leverage on these markets is 10:1 if you are in the EU, or up to 50:1 if you are outside.
Finally, the broker offers trading in 30 cryptocurrencies with a maximum leverage of 1:2 available. Among these cryptos are Bitcoin, Litecoin, and Ethereum. For traders that register under the international OctaFX branch, the maximum cryptocurrency leverage extends up to 1:25.
Execution, leverage and position sizing
As a trader, you will find a range of features available at OctaFX to suit your needs. Here is a closer look at a few of these features and how they can benefit you as an OctaFX trader.
OctaFX is a Hybrid ECN-DMA broker. This effectively means that they can provide the very fastest order executions in the industry, along with direct access to a number of liquidity providers to give you the best possible prices on each asset offered.
The slight difference between ECN and DMA in terms of the liquidity provided is that the typical ECN brokers liquidity providers are not known.
Overall, this is an excellent hybrid combination that can secure the best market prices, lowest spreads, and fastest trade execution.
The OctaFX leverage that you will have access to really depends on which regulatory body you fall under, and the assets you are trading. As standard though, the maximum leverage available in the EU by regulation is 30:1 on major forex pairs.
Outside of the EU the maximum OctaFX leverage is 500:1 on MT4 and MT5 accounts. Again, this can change depending on the asset you are trading.
The minimum order size you can expect when trading with OctaFX is 1 micro lot. This is the same as 0.01 standard lots, or equal to $1,000 in cash value.
This means you can open positions with as little as $1,000 and this amount can be further reduced if you are trading on leverage.
Managing risk is of course a vital element for any forex trader and broker combination. OctaFX utilizes all of the tools that are in place with your trading platform to help you to do this.
These tools include the ability to set stop losses, trailing stops, and take profits to control positions you are already in, limit orders to control your entry into positions, and margin calls to monitor your levels of equity when trading on leverage.
These are all useful and important tools to utilize for any forex trader on all platforms and brokers.
Further protection is also available through the guaranteed stop loss that OctaFX makes available in exchange for a small mark-up when you are opening a position.
Trading hours are the times when a particular asset is available for trading. With OctaFX every asset except for crypto is available for trading on a 24/5 basis, Monday – Friday. As for cryptocurrency pairs, they are tradable 24/7. This applies to all markets including forex, commodities, and cryptos.
Forbidden trading techniques
When it comes to trading techniques, you will be glad to note that OctaFX does allow both scalping, and hedging.
You can access strategies to follow through the community forums and program your own with MQL5 and C# fully supported. The use of a VPS is also permitted.
Platforms & Mobile
Here is a more detailed look at the wide range of top trading platforms you can expect to find when you are trading at OctaFX, and what they can provide you with.
Charting and Trading tools
OctaFX works with MetaTrader. Ultimately this means you will have access to an extensive range of tools and indicators depending on your platform choice. There are a total of 51 charting indicators provided, and 31 drawing tools also.
MetaTrader is further renowned as one of the most comprehensive platforms in this area. You can further benefit from one click trading, the ability to order directly from charts, and regular price alerts.
MetaTrader 4 is extremely well regarded in the industry as one of the top trading platforms ever. Here you get exactly what you expect with a very robust and extremely powerful and also lightweight trading platform that can run on virtually any device.
The platform also provides for a wealth of more than 50 charting tools and indicators, and caters for auto and copy trading through its EA feature.
The MT4 trading platform is available through OctaFX on desktop, through webtrader, and mobile for availability on all devices including tablets
You can access the platform through Windows or Mac operating systems and on mobile or smart devices through Android or iOS.
MetaTrader 5 is in many respects an enhanced version of MT4.
It also provides for all of the same excellent features with an increased number of trading capabilities and functions such as additional indicators, a detailed economic calendar, and 6 more pending order options as well as increased market depth displays in a total of 21 timeframes.
Again the platform is available on all mediums and a webtrader is offered. MT5 is also equally lightweight and can run on almost any device.
The platform can be accessed through Windows, Mac, iOS, or Android, and is an excellent and very well-respected trading platform among the community.
OctaFX Mobile Platform
OctaFX mobile trading is also well catered for through their own mobile trading platform aside from the huge industry giants already mentioned.
This mobile platform is accessible through Android and iOS on both mobiles and other smart devices and provides you with a user-friendly and light way in which to manage your account, make deposits and withdrawals, and keep updated on market movements through the alerts that are available.
Discover the OctaFX Mobile App
74-89% of retail CFD accounts lose money
Special features you can find on OctaFX
In addition to the markets offered, as an OctaFX trader, it is likely that you may come across some of these extra products that the broker makes available depending on your location.
OctaFX Status Program
The OctaFX Status Program is a loyalty program, as the name suggests, there are 4 tiers available to build your status through increased trading. These tiers are bronze, silver, gold, and platinum.
Each tier has different associated benefits starting with those like commission-free transactions at the bronze level, and working up to all expenses paid VIP events at the top levels.
OctaFX Champion offer
The OctaFX Champion offer is a contest run by the broker whereby you can open a demo account and trade for 4 weeks.
During this period you will be featured on a leaderboard for your virtual trades with the aim to reach the top where real prizes of up to $1,000 withdrawable money on MT4.
OctaFX 50% deposit bonus
Depending on your location, you may be eligible for an OctaFX deposit bonus of 50%. To qualify, you must deposit at least $50 to get a 50% bonus of that amount.
This bonus is also withdrawable though you must meet certain terms and conditions set by the broker.
OctaFX Free forex signals
Free OctaFX signals are available through the autochartist service depending on your account type and status at the broker.
This can enable you to optimize your positions and the software has an excellent prediction success rate, up to 83% correct on the EUR/USD, which is of course subject to change and the risk involved.
It also provides for detailed analysis with market reports and more to offer.
Social Trading – Copy Trading
Both social and copy trading is well provided for at OctaFX through their own proprietary copy trading service. Here you can choose to be the master (Provider), or copier. The only real difference here being that as a master you can earn commission.
As a copier here, you also will not be charged any other commission besides that set by the person you are copying. This amount can vary depending on the master as they have freedom to individually set commission.