OctaFX

Company information

Company name
OctalFX
Website
octapk.net
Company Headquarters
St. Vincent
Account Minimum
USD 5

OctaFX

Ratings :
4.6/5

A newer Forex Broker in the game, Octa FX was founded in 2011, in Cyprus and has become one of the fastest rising Forex Trading companies in the world. Their grasp on the Pakistan market is growing exponentially and it is expected that they can overtake other giants in Pakistan and have control in the Pakistan Forex Trade Market.

Islamic Account

Ranked one of the best Islamic Finance Account in 2020, Octa FX provide some great offers on Islamic Accounts while following the Sharia Finances. There are no swap-fee involved just a fixed amount (nt an interest) which differentiate in terms of buying or selling.

Trading Platform

OctaFX is principally a MetaTrader representative, offering the set-up of stages from MetaQuotes Software Corporation, including MetaTrader 4 and MetaTrader 5, cTrader, including the cAlgo stage, is likewise accessible. 

They offer a web interface for duplicate exchanging, that associates with its MetaTrader 4 stage offering. In general, OctaFX’s duplicate exchanging experience comes up short on a local area feel 

The web platforms are profoundly robust and customizable, flaunting similar highlights found in the desktop versions, including drawing tools, market pointers, contents and master counsels, in addition to admittance to assorted request types and execution modes

Since OctaFX is a MetaTrader and cTrader-just specialist, it gives both the standard iOS and Android renditions of the MT4 and cTrader portable applications. No exclusive portable application is advertised.

The applications offer a large number of the fundamental features found in the desktop applications, remembering a total arrangement of orders for MetaTrader and full equilibrium, edge and P&L data in cTrader.

Customer Support

The customer support is available via landline, but it Is not the best way to contact the firm, their agents are a bit tedious in answering and the wait can sometimes make you lose your patience and look for other alternatives as quickly as possible.

The email support is much better alternative, replies are received in about a day or two max and they do follow-up emails from time to time which is a great feature showing the personal care they have for their customers.

But the best perhaps is the live chat support which is available 24/7, the chat support teams are really helpful and will try to help you out in any way possible, whether it be regarding some basic information, issues that you may face or just personal information of your own account that you require.

The support is available in multiple languages as well which makes it easier for many people to easily reach out to them. For Pakistani’s there is also Urdu language available which makes it easier for a lot of people as not everyone can communicate in the English language.

Cost & Expense

A minimum deposit of just 5$ is required for an account opening, they do not as of now do not any withdrawal fees and inactivity fees are also exempted. They encourage people to come back to them, while keeping their accounts intact without any hassles. Any additional deposit charges are also not charged and are almost free . The normal trading fee spreads are about 0.4-0.7 pips which are great and really helpful for a lot of people just. For someone new in the Forex Trading scene should really consider going for Octa FX. 

Risk Factor

The risk factor here, is that they are still relatively new, there accounts have increased rapidly, but still they are not affiliated by many known authorized agencies in the world. They do provide Negative Balance Protection meaning if your account during trading goes below zero, they will turn the account back to zero for your convenience and will not be charged in any hidden fees or charges. But as mentioned before they are still relatively new and Trading is always a risky business, so the lack of proper authentication could be a problem especially for veteran traders that know about all the happenings and prefer for other Forex Traders Online with history rather than potential

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