Octa FX BROKER PROS AND CONS
We have used the service to test out the broker, trying to compare every aspect; Swap, Spread, Commission, Inquiries Service, Support, Deposit and Withdrawal, and all of the services of Octa FX Broker and figure out what is suitable for traders.
- Low spread (0 pip)
- Bonus of 50%
- Minimum withdrawal is only $5.
- No deposit and withdrawal fees.
- There is support in the Thai language.
- Charge a fee if the order is left open during the weekend
OCTA FX BROKER BONUS
1. NO DEPOSIT BONUS
Octa FX offers a welcome bonus of $8 to new customers opening accounts. This money can be used to trade in the real market.
2. DEPOSIT BONUS
Deposit Bonus up to 50%:Bonus for each deposit with a minimum deposit of $50, you can choose from a bonus of 10%, 30% and 50% (The special offer period allows you to receive a bonus of up to 100%). If withdrawing the deposit from the account, the bonus will be cancelled.
The bonus can be withdrawn provided that it is traded equal to the bonus amount divided by two, e.g. $100 deposit, $50 bonus, 25 Standard Lots are traded.
OCTA FX FREE VPS
Currently, OctaFx does not offer VPS service.
OCTA FX SPREAD AND SWAP INFORMATION
1. OCTA FX SPREAD
Our spread and swap cost calculations are already charged per 1 lot open order size of Standard account (100,000 USD per 1 lot), so the value shown is in USD.
Octa FX Account Types
MICRO Fix spread
|MICRO||Pro MT5||ECN cTrader|
2. OCTA FX SWAP
The daily cost of holding a trader’s position when trading with Oxta Fx is charged when opening a 1 Lot Standard (100,000 Lot) order. It shows the daily cost of holding 1 Lot Standard account size as follows:
Spread and Swap comparisons of all brokers can be viewed to create a trading strategy. Build your own trading advantage here.
3. OCTA FX COMMISSION
OTHER OCTA FX INFORMATION
Octa FX Forex Broker has been around for almost 10 years, since 2011, available for service in more than 100 countries, has won 28 trading service awards and has been more actively participating in the Thai Forex trading market.
Octa FX is financially registered with the country in which its office is located with the following information:
- Cyprus Commodities and Exchange Commission (CySEC)
- Financial Conduct Authority (FCA) UK
- The International Forensic Strategic Alliance (IFSA)
OCTA FX ACCOUNT USAGE
Opening an Octa FX Broker account can be done through the Platform. However, there are support services available as well which can be contacted through Support.
1. Octa FX Forex Account Opening Documents
Documents required to open a trading account with Octa FX Broker include:
- Identity verification documents is ID card or passport.
- The address verification document must match the address shown on the identity card, it is recommended to use a copy of the house registration. In the case that a copy of the house registration is unusable, documents that are billed to the service, such as telephone, electric, and water supply invoices must be used instead, because they will appear at our address. To request a Bank Statement, it must have a bank stamp in which some brokers do not allow.
Note: Invoices are different from receipts. The use of receipts in English may not be used for identity verification.
2. OCTA FX Account Types
There are several types of Octa FX Forex trading accounts.
The table shows the account types of Ocra FX Forex Account
OCTA FX Support Service
We conducted a test of communication with Support via chat and made an assessment according to the criteria; able to fix the problem, promptness of service, problem solving intention, not just sending links to read to acquire answers. Therefore, we have reviewed the broker and found the following service problems;
- Traders do not get to directly inquire to the staff, not responding immediately. Chat Bot is used to receive traders’ inquiries first.
- Choose which language to access assistance.
- Less than 1 minute after the Chat Bot passes the inquiry to the staff, traders can directly inquire to the support staff.
- Staff is quick to introduce themselves before starting the conversation.
- Staff answer questions clearly.
- Answer questions thoroughly and additional information is provided.
- The staff responded quickly to all questions, minimal wait time, not disappearing.
- Ask questions prior to the end of the conversation to recheck, not leaving chat room unattended.
“Overall, the disadvantages of Octa FX’s Support are, it is difficult to contact Thai Language Support and English support cannot answer questions.”