OctaFX Review, Still Best Broker In This Year?

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OctaFX is one of the most well-known forex brokers in the world and has won many awards for its very comfortable trading environment and closeness to customers.

Since its founding in 2011 by a team of professionals with an international target market, OctaFX has grown rapidly to become a leading retail forex broker.

The prestigious awards that OctaFX has received include Best ECN/STP 2019 and Best Forex Broker in Asia 2019 given by FX Daily Info. Global Banking and Finance Review magazine also awarded this broker the Best Forex Broker in Asia in 2018.

In Indonesia, OctaFX is under the auspices of Octa Markets Incorporated and registered in the regulations of Saint Vincent and the Grenadines.

This broker provides various conveniences for Indonesian traders, such as providing support services via live chat and WhatsApp in Indonesian. Deposits and withdrawals can be made through various local banks, namely BCA, BNI, BRI, and Mandiri.

Interestingly, OctaFX does not charge a commission for every deposit and withdrawal of funds a trader makes. Trading at OctaFX broker is also suitable for novice traders.

The reason is, OctaFX offers low spreads, namely floating starting from 0.0 pips. The initial deposit required is also low, only USD50.

In addition, this broker also implements safe steps to protect client funds, namely by using segregated accounts and protecting personal data and online financial transactions with SSL encryption technology.

OctaFX broker offers trading platforms from industry-leading MetaTrader 4, MetaTrader 5, and cTrader.

Traders can choose from three account types, including Micro, Pro, and ECN. OctaFX allows traders to perform a variety of trading strategies, including scalping and hedging.

Broker Profile

  • Broker Name: OctaFX
  • Broker Type: ECN/STP/DMA (5 digits)
  • Website: Click Here For Exness Broker Official Site
  • Company Name: Octa Markets Incorporated
  • Founded: 2011
  • Regulator: Octafx.eu: CySEC (license no.372/18) Octafx.com: SVGFSA (19776 IBC)
  • Consumer Service: Live chat 24 hours/7 working days, SMS Center Jakarta (0838-0838-5555)
  • Website languages: English, Indonesian, Chinese, Malay, Portuguese, Spanish, Thai, German, Bengali, Hindi
  • Deposits And Withdrawals: Bank Wire, Visa / MasterCard, UnionPay, Neteller, Skrill, Indonesian local banks (BCA, Mandiri, BNI, and BRI), OVO, Gopay, Fasapay, MasterCard, Visa, Doku, Pakistani local banks, Thai local banks, Indian local banks, Malaysian local banks, etc
  • Expert Analysis: Available
  • Partnership Program: Available
  • Education Content: Available

Trading Conditions at OctaFX

  • Trading Platform: MT4, MT5, cTrader (desktop, Android, iOS, Web-based platforms)
  • Trading Instrument: 43 forex pairs available, 4 metals including Gold and Silver, 10 CFD Index, 2 Crude Oil, and 5 Cryptocurrencies
  • Spead: Floating Spread, start from 0
  • First Deposit: USD $50
  • Currencies: USD, EUR
  • Leverage: 1:500
  • Swap: Free
  • Minimum Lot: 0.1 (Micro lot)
  • Account type: Metatrader4 Micro, MetaTrader5 Pro, cTrader ECN
  • Segregated Account: Available
  • Hedging: Allowed
  • Scalping: Allowed
  • Expert Advisor: Allowed
  • Market Execution: orders start from under 0.1 seconds
  • One-Click Execution: Available
  • Margin Call/Stop Out: When account margin reaches 25%/15%

Advantages of Trading at OctaFX

50% Deposit Bonus

By giving a 50% bonus every time a trader makes a deposit, the capital obtained is bigger.

The opportunity to open a position increases and the deposit bonus can be withdrawn with the applicable terms and conditions. Read more detailed information at OctaFX Official Websites.

Trade & Win Promotion

Another advantage offered by OctaFX broker is the Trade&Win Promotion. Massive trading on OctaFX has the opportunity to collect trading lots, which can be accumulated into various attractive prizes.

Traders only need to open a real account in MetaTrader 4 or MetaTrader 5 via OctaFX and simply exchange the number of lots (Prize Lot) in this promotion.

Prizes that can be obtained include T-shirts, Android Smartwatches, smartphones, and laptops.

MT4 Demo Champion Contest

OctaFX Broker MT4 Demo Contest fulfills the dream of traders who want to make real profits on a demo account, through the event titled “OctaFX Champion – MT4 Demo Contest”.

With a total prize of 1000 USD, there is a place for 4 winners in each contest period. Prize money will be sent directly to the winners’ respective real accounts.

CTrader Weekly Demo Contest

In addition to providing the MetaTrader trading platform, OctaFX broker provides the cTrader platform. The demo account contest entitled “cTrader Weekly Demo Contest” from broker OctaFX fulfills the wishes of traders who want real profits.

As the name implies, cTrader Weekly is an OctaFX trading contest held on demo accounts for 1 week.

Why Did We Recommend OctaFX?

Protected Customer Funds

The current regulation used is SVGFSA with license number 19776 IBC. Therefore, the broker implements safe measures with the aim of protecting customer funds.

In accordance with international accounting regulations and standards, OctaFX always keeps company assets separate from clients’ trading funds.

Customers’ personal data and online financial transactions are also protected by SSL encryption technology.

Reliable Trading Platform

OctaFX broker offers the world’s leading trading platform, Metatrader4, for desktop and mobile trading.

Apart from that, there is also the cTrader platform for traders who want to fully trade ECN forex and the MT5 platform for trading without swaps at all.

All Strategies Allowed OctaFX allows a wide variety of trading strategies, including scalping, trading using expert advisors (EAs), and hedging.

Swap-free accounts are also available for Muslim traders who wish to avoid overnight/rollover/swap interest.

Micro, Pro, and ECN Accounts Available

OctaFX offers 3 account types: MT4 Micro, MT5 Pro, and cTrader ECN. All three are run with market execution (STP/ECN), 5-digit price precision, and enforce floating spreads starting from 0.2 pips.

Various strategies, be it scalping, hedging, or the use of expert advisors (trading robots) are allowed in all accounts at OctaFX broker.

Various Weekly Bonuses and Contests

OctaFX brokers often hold certain bonus promotions. In fact, this broker every week holds a trading contest on a demo account with a prize of real funds that can be used for trading.

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