The ‘OctaVision’ AI tool helps traders track their performance and learn from their mistakes. This makes OCTA an attractive option for traders who hold positions overnight. All available assets are swap-free, with no hidden costs or extra commissions. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates.
- In our Trust category, we assess how stable and transparent a broker is.
- I was most impressed by OCTA’s AI-powered market research and comprehensive educational content.
- For new traders, this could incentivize overtrading.
- Overall, OCTA’s offering is well-suited for long-term traders, investors, day traders, and copy traders alike.
- On the downside, its spreads vary widely, ranging from tight on EURUSD and share CFDs to high on commodities and indices.
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It also facilitates copy trading services and offers extensive educational materials. It offers high leverage, a diverse range of instruments, and user-friendly trading platforms. Our reach makes financial markets accessible to traders worldwide.
The broker offers a low minimum deposit ($25 for most methods or around $50 in crypto) combined with zero deposit, withdrawal, swap, or inactivity fees while spreads align with industry standards. Still, the lack of non-trading fees and its universal swap-free structure give it a significant edge for traders who hold positions overnight. The broker’s policy of offering swap-free trading on all instruments, at no extra cost, is a rare advantage in the industry.
Track deposits, withdrawals and more
OCTA provides Islamic accounts for swap-free trading under Shariah Law. The OctaTrader account offers the best overall conditions of the bunch, but it doesn’t support algorithmic or stock trading. The main difference between OCTA’s accounts lies in the trading platform they use. I opened an OctaTrader account with the OCTA Markets Ltd entity and performed my tests on the OctaTrader platform and Octa trading app. They can also benefit from OCTA’s robust market research, layered educational content, and user-friendly trading platform. Octa supports trading through MetaTrader 4 and 5 alongside its proprietary OctaTrader web platform and the dedicated Octa Copytrading app.
Weekend trading enabled
The broker does not impose a handling fee on deposits or withdrawals, though third-party banking fees may apply. I appreciated that the app is packed with advanced market analytics, helping traders spot potential opportunities even on the go. In my estimation, OctaTrader is a great fit for technical and day traders looking to scoop the next best trading opportunity, thanks to featured trading signals and market breakdowns.
When stacked against competitors, OCTA lands in the mid-range for fees. OCTA, founded in 2011 LunarCapital cheating and headquartered in the Comoros, sets itself apart with a trader-focused, innovative approach. This rich video content is complemented by 70+ written articles on the OCTA website, giving traders multiple ways to learn. While it doesn’t provide third-party research, the in-house content is more than sufficient for keeping up with market movements.
When opening an account, you have the option to select your leverage level. Opening an account is fast and straightforward, and deposits and withdrawals are also quick and fee-free. The account opening process is fast, completed within minutes.
I was most impressed by OCTA’s AI-powered market research and comprehensive educational content. Octa is an online currency trading brokerage.Octa uses up-to-date technology and knowledge to improve the forex trading experience. Matías started in financial markets in 2008, after graduating in Economics. Opening a trading account with Octa is a straightforward process that can be completed online.
- Only risk capital should be used for trading.
- The account opening process is fast, completed within minutes.
- In terms of tools, traders can choose the most convenient platform among OctaTrader, MT4, and MT5.
- OCTA doesn’t charge swap fees for all available instruments, so you can trade overnight at no extra cost.
- Our trading conditions speak for themselves
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OCTA doesn’t charge swap fees for all available instruments, so you can trade overnight at no extra cost. The 50% bonus is more applicable to experienced traders or those confident in a long-term relationship with the broker. However, not all platforms have the same instruments available for trading. With the mobile Octa app, you can manage all accounts without downloading MT4 and MT5 on your phone.
Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. After many years of also covering international politics, he has become an expert in markets who combines technical and fundamental perspectives. A status program is offered where clients, based on their deposited funds, can access different levels that provide enhanced services. At the same time, it can be limited to lower levels, which can be useful for new traders or those who wish to limit the size of their trades.
No swaps on MT4 and MT5
What are the risks of using OctaFX?
Temporary disconnections, slippage, or downtime during high volatility could impact trade execution. As with any broker, your trades are with OctaFX (unless they are passed to other liquidity providers), so there's always a risk that the broker's financial health could affect execution or fund returns.
Concerning OCTA’s drawbacks, I would single out its high crude oil spread and lack of a raw spread account. Traders can engage with 273 CFD instruments and 100+ US stocks for value investing. Another great perk is its streamlined OctaTrader platform, which is available as a pleasant alternative to MetaTrader 4 and MetaTrader 5. LinkedIn is better on the app This said, we are working hard to further improve our services. We aim to set the superior standard of service and maintain it to the highest level, while constantly developing new services and promotions.Octa is indeed a client-oriented company.
To learn more about the most important safety mechanisms and how they apply to you, click here. When we review brokers, we look at the licenses held by each of their entities to understand how well they protect clients. To access those, a trader’s account must be funded with at least $10,000. Automated trading is available on MT4 and MT5 via Expert Advisors (EAs). It also integrates actionable trading signals for more informed decisions.
On the plus side, the broker offers swap-free trading and doesn’t charge any non-trading fees. On https://lunarcapital.team/ the plus side, it offers swap-free trading on all instruments, charges no inactivity fees, and doesn’t tack on handling fees for deposits or withdrawals. OCTA has also carved a reputation for itself as a broker that offers swap-free trading for all available instruments and at no extra cost. The mobile app offers a rich experience, with full control over accounts, attractive charts, and extra tools. Beyond trading platforms, Octa offersplenty of educational resources and complementary tools for the trader.
OCTA offers a demo account that lets traders explore the broker’s available platforms and test their strategies in a risk-free environment. Other standout features include the broker’s comprehensive educational offering and swap-free trading on all instruments. We’re helping traders build stronger futures by offering a wide variety of educational articles and videos, insights from which can be applied to our unlimited demo accounts.
Can I withdraw money from OctaFX?
You can only withdraw money after verifying your profile—this is required by law. Log in to your Personal Area on our site. Further actions depend on whether you want to withdraw money from your Wallet or your trading account.
Trading is risky — be responsible. Our posts are not financial advice.
The OCTA app retains the versatility and functionality of its web version. I enjoyed using the OctaTrader platform because of its user-friendly design and high-definition charts. However, its analytical tools and chart configurations are very limited. The platform is also suitable for beginners who can track their progress and learn from their mistakes using the ‘OctaVision’ tool. The great thing about the ‘Space’ feature is that it lets users copy trading signals directly from the chart, making it easier to act on insights quickly and make informed trading decisions.
Since markets are constantly changing, it’s crucial to keep your skills sharp without risking real money. When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. It also offers support via email and has developed a FAQ section for more general questions.
Customer Service
Essentially, the broker lends the trader money so that they can open bigger positions. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. In many ways, I found it to be a more efficient and reliable option than traditional human agent support. It lacks low-risk securities like ETFs and bonds, as well as alternative contracts such as vanilla options and futures. While adequate for most retail traders, OCTA’s instrument lineup is fairly limited compared to competitors. You can jump in or out of the market quickly to take advantage of even the smallest price changes.
OCTA also supports the popular MT4 and MT5 platforms, both of which are ideal for algorithmic trading. Deposits and withdrawals are also free of charge with the broker, though third-party processing fees may apply. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity with which they choose to open an account. On the other hand, OCTA does not provide Virtual Private Server (VPS) hosting for low-latency trading or Cent accounts for algo testing.
Compared to the industry average, OCTA offers a low number of indices, an average amount of currency pairs, commodities, and share CFDs, and a high number of cryptocurrencies. However, OCTA does not offer low-risk securities such as ETFs or bonds. I also like how OCTA caters to beginners by integrating past webinars directly into the app.
The developer has not yet indicated which accessibility features this app supports. Our online trading app enhances your trading experience by providing financial flexibility as you trade with your money online. The Octa trading app enables you to trade different assets on embedded trading platforms. We measure success by the cost-effective trading conditions we provide and by success stories our traders share.
The OctaTrader platform combines a sleek design with detailed, easily scalable charts, making it a great fit for day traders. The offering could be even better if OCTA adds some low-risk securities, such as ETFs or bonds, which are typically preferred by swing traders. To achieve this, we evaluate the availability of the necessary features and tools. When reviewing a broker, we assess whether it suits different trading strategies and trader profiles. Notwithstanding the areas in which OCTA is yet to make improvements, I deem the broker an excellent fit for long-term traders, investors, day traders, and copy traders.
The broker’s YouTube channel hosts over 400 educational videos and past webinars, tackling topics as simple as the ABCs of trading and as complex as Elliott Wave strategies. OCTA offers top-notch market research for a streamlined trading experience. OCTA stands out in the research category with a rich set of in-house tools, including daily market overviews, an economic calendar, and featured trading signals. All accounts come with a low $25 minimum deposit, making them accessible to most traders. Stock trading is only available through the MetaTrader 5 account, while Expert Advisors (EAs) can be used on both MetaTrader 4 and MetaTrader 5 accounts.
