blogger.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some. octafx binary options Binary Options Binary options cashback is available for 5 binary brokers and only for new accounts. OctaFX is a downloadable business and investment platform. It is important that you choose a broker offering a quality trading platform. Maarten Stekelenburg supports #octafxchallenge! OctaFX is a relatively new online forex broker that offers its services to over countries around the globe. Read our detailed review of OctaFX to find out its main features, its advantages and disadvantages, and discover whether this broker will be right for you. OctaFX Regulation OctaFX was founded in , with the operating.
7 Binary Options – OctaFX
OctaFX is a relatively new online forex broker that offers its services to over countries around the globe. Read our detailed review of OctaFX to find out its main features, its advantages and disadvantages, and discover whether this broker will be right for you. This means that its first financial regulatory authority is its license under the International Business Companies Act of Saint Vincent and Grenadines. It also subsequently obtained a license from the Caribbean Financial Services Authority.
This was particularly notable for OctaFX as while it was already regulated by the financial authorities in Saint Vincent and Grenadines as well as the Caribbean , those are not considered to be strict countries in terms of financial regulation and have a reputation for being very lax in that area. Despite octafx binary options being regulated, OctaFX has won many awards. In the overcrowded world of forex brokerage, many of which are either unregulated or are registered under weak regulatory bodies, the brokers that stand out are those that make the effort to obtain licenses from legitimate financial authorities such as the FCA.
Without the FCA license, it looks like OctaFX rejoins the sea of weakly regulated forex brokerswhich do little to inspire trust and confidence. OctaFX offers three different types of accounts, octafx binary options, each one tied to a octafx binary options trading platform. Some of their salient features and their minimum balances are described below, octafx binary options.
Only allows trading octafx binary options forex plus gold and silver. No commission is charged but spread markups are applicable. Allows for trading in all available asset classes. There are 3 different accounts, one per platform. No commission is charged but spread markups, which are lower compared to the micro account, are applicable.
As an Electronic Communication Network account, it provides Direct Market Access, giving traders access to full market liquidity and the most transparent pricing. Accordingly, it does not have any spread markups but rather charges based on commission instead.
OctaFX also gives its traders the option of having a Shariah compliant Islamic account that can be applied to any of the three account types above. When converting any of the above account types to an Islamic account, octafx binary options, there will be no swap fee applied during a rollover but a fixed fee instead.
OctaFX has conveniently provided a commission calculator on their website which traders can use to determine how much the fee will be depending on the asset traded, the volume, and account currency. As with many brokers, OctaFX also offers a demo account. We will highlight the salient features and differences between each trading platform below. The cTrader platform octafx binary options popular, despite being more complex and advanced than others.
Like all forex brokers, OctaFX offers leveraged trading and the maximum amount of leverage depends on which account and associated trading platform a trader signs up for. The maximum amount of leverage is however this depends also on which asset is being traded. As you can see, maximum leverage on the MetaTrader 5 platform is significantly lower compared to the other two platforms, octafx binary options. While leveraged trading can increase returns, it also amplifies risk.
The Live Quotes tool can help you optimize your trading, octafx binary options. To assist with trading, OctaFX also provides traders with several trading tools that can octafx binary options used to optimize octafx binary options trading experience. Directly from the OctaFX website, traders can access the global economic calendar to view important events such as Non-Farm Payrolls. You can also view central bank interest rates, national holidays, and live quotes from each trading platform.
This is sort of a social trading feature where other traders will be able to monitor successful traders and possibly emulate their trades. Note that accounts are listed according to number only and no identifying trader information is shown. Another feature that OctaFX offers is a trading signal service known as Autochartist. This service provides octafx binary options or sell recommendations based on four technical analysis patterns: triangles, channels and rectangles, wedges, and head and shoulders.
These signals are delivered via email up to thrice daily. OctaFX allows trading in four broad asset classes; currencies, metals, energies, and indices. In total there are 35 currency pairs, 4 metals, 2 energies, and 10 indices. While most traders will be more than satisfied with this selection, the number of instruments available to trade with OctaFX is definitely significantly less compared to its competitors, which is a minus point. OctaFX makes its own profits via spread markups and commissions, depending on which account type a trader signs up for.
When using the MetaTrader 4 and MetaTrader 5 platforms, no commissions are charged and a spread markup is applied instead. The opposite is applicable for the cTrader platform, where there are no spread markups but a commission is applied instead. The amount of spread markups that OctaFX charges vary, however, they are some of the tightest in the market.
On average, the minimum spreads range from 0. You can octafx binary options the current spreads live on the OctaFX website. OctaFX allows deposits and withdrawals through the following methods: Visa, MasterCard, bank transfer traders in Octafx binary options and Indonesia can opt for a direct bank debitNeteller, and Skrill. All deposits and withdrawals will be processed within a few hours if within operating hours or by the next business day. There is no minimum or maximum amount but note that withdrawal amounts cannot exceed the amount of free margin in an account.
OctaFX also does not charge any fees for deposits or octafx binary options, however fees might be charged by the respective payment processor. Like most forex brokers, octafx binary options, OctaFX also maintains a trader education section, accessible via its website.
Unfortunately, its trader education section is not very extensive, focusing only on Forex basics and is basically text only. Other than that, OctaFX provides a octafx binary options glossary as well as manuals for each trading platform.
Just like most bonuses, it come with terms and conditions and attached. Once those amounts have been traded, only then can the bonus be withdrawn. Bonuses can also be cancelled by the trader at any time. Bonuses will not be credited if account free margin is less than the bonus amount and if the account equity falls below the bonus amount, the bonus will also be cancelled.
Bonuses have no time limit and do not expire. In addition to the bonus, OctaFX also runs various contests. As such, traders from that region may enjoy certain advantages such as direct bank debiting, and perhaps being able to communicate better with any company staff. Other than that, OctaFX is a fairly standard octafx binary options broker, with traders likely enjoying their choice of trading platforms and tight spreads.
That said, traders who are concerned with broker regulation should probably not trade with OctaFXwhich is as we have previously mentioned, very weakly regulated after having lost its FCA license, octafx binary options. Frequent traders might also find the lack of incentives off-putting; for example there is no reduced commission or spread markups for higher volume trading. Also OctaFX does not offer any VIP accounts, likely because they are targeting the relatively inexperienced retail traders, as can be seen by their contests, octafx binary options.
Nonetheless, the fact that OctaFX is targeting this target market without offering an unlimited demo account is also a definite negative. OctaFX provides tight spreads, a good variety of trading platforms as well as various trading tools to assist traders. That being said, their lack of strong regulation is probably their largest drawback, and more than a few traders will likely be put off from trading with them due to this alone.
Your email address will not be published. OctaFX No Comments. Author Recent Posts. Latest posts by Marcio see all. Is this your final decision? We suggest you visit one of the popular Forex Broker instead! General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Pros: Tight spreads. Good choice of trading platforms. Cons: Weakly regulated. Limited demo account. No frequent trading incentives. Leave a Reply Cancel reply Your email address will not be published. This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More. Necessary Always Enabled.
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The platform’s trading options cover all most all the major currency pair, silver as well as gold. The trading platform offers a MetaTrader 4 trading platform which is available for both desktop and smartphone users. Besides, it also offers cTrader platform. Speaking about server OctaFX, the trading servers are located in London. OctaFX is a relatively new online forex broker that offers its services to over countries around the globe. Read our detailed review of OctaFX to find out its main features, its advantages and disadvantages, and discover whether this broker will be right for you. OctaFX Regulation OctaFX was founded in , with the operating. blogger.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some.
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