- How to open a Forex trading account with OctaFX?
- Comparison of OctaFX’s Account Types and Platforms
- Why you should choose OctaFX?
- Forex Raw Spread from 0.2 pips
- cTrader with ECN technology
- OctaFX MT4 for beginners
- OctaFX MT5 for advanced traders
- Islamic Swap-Free option for all traders
- No restrictions on trading strategies
- Fast execution with minimal slippage
- NBP for all OctaFX live accounts
- Live and Demo Trading Contest for cash rewards
- Deposit Bonus and Loyalty Program
- OctaFX Copy Trading Program
- Low deposit requirement from only 100 USD
How to open a Forex trading account with OctaFX?
OctaFX is an online Forex and CFD broker.
By opening an account with OctaFX, you can trade Forex and CFDs on their advanced trading platforms.
You can open an account and start trading with OctaFX without any cost.
Follow the simple steps below to open OctaFX’s live or demo trading account today.
- Go to OctaFX Official Website.
- Click on “Open Account” at the top menu bar.
- Fill in the reuiqred fields and click on “OPEN ACCOUNT”.
- Receive an email from OctaFX.
- To complete registration click the link in the email that OctaFX sent to your email address.
- Receive login credentials of your account.
- Log in to the client portal from OctaFX Official Website
- Start managing your accounts and investing.
After you fill the required fields, just confirm your email address, and you’re ready to start trading with OctaFX.
If you don’t receive an email from OctaFX:
- Check again in a few moments, sometimes there’s a short delay.
- Check your junk or spam email folder.
- Check that your email is correct, or enter a different address:
In order to make a deposit and start trading, you are recommended to verify the account validation by submitting documents OctaFX first.
For any questions about the account opening process, please contact OctaFX’s support team from the official website below.
Comparison of OctaFX’s Account Types and Platforms
OctaFX offers mainly 3 different account types for traders.
Each account type is available on a different trading platform as you can choose from:
- MetaTrader4 (MT4) Micro
- MetaTrader5 (MT5) Pro
- cTrader ECN
Each account type and platform has different advantages for traders.
With OctaFX, you can also open multiple trading accounts and try out the trading conditions of each platform too.
See the table below for the comparison of OctaFX’s all trading platforms and their conditions.
|Trading Platform||MT4 (MetaTrader4)||MT5 (MetaTrader5)||cTrader|
|Floating Spread||From 0.4 pips||From 0.2 pips||From 0.4 pips|
|Fixd Spread||From 2.0 pips||N/A||N/A|
|Trading Commission||None||None||From $2 to $4 per lot|
|Required Minimum Deposit||100 USD||500 USD||100 USD|
|Financial Market||FX, Gold, Silver, Energy, Stock Index, Cryptocurrency||FX, Gold, Silver, Energy, Stock Index, Cryptocurrency||FX, Gold, Silver|
|Maximum Leverage (Forex)||1:500||1:200||1:500|
|Maximum Leverage (Metal)||1:200||1:100||1:200|
|Maximum Leverage (Stock Index, Energy)||1:50||1:50 (1:100 for Energy)||N/A|
|Maximum Leverage (Cryptocurrency)||1:2||1:2||N/A|
|Minimum Trading Volume||0.01 lots||0.01 lots||0.01 lots|
|Maximum Trading Volume||Unlimited||Unlimited||Unlimited|
|Execution Model||Market Execution||Market Execution||Market Execution|
|Execution Speed||Less than 0.1 seconds||Less than 0.1 seconds||Less than 0.1 seconds|
|Precision of Market Prices||5 digits||5 digits||5 digits|
|Account Base Currency||USD, EUR||USD, EUR||USD, EUR|
|Margin Call Level||25%||45%||25%|
|Stop Out Level||15%||30%||15%|
|Use of EAs||Allowed||Allowed||Allowed|
|Overnight Commissions||Swap / Swap free commission||3 days fee||Weekend fee|
MT4, MT5 and cTrader trading platforms are the most popular trading platforms in the Forex market.
With OctaFX, you can use these trading platforms for free with all the tools already built-in.
By visiting communities such as MQL4 and MQL5, you can also acquire custom indicators and EAs (Expert Advisers) and run them on OctaFX’s trading platforms.
As OctaFX has no restrictions on trading strategies, you can run any type of EAs on OctaFX’s trading platforms.
Now let’s see more details of each OctaFX’s trading account and find out which account type (trading platform) is suited for you.
1. OctaFX MT4 Micro Account
OctaFX’s MT4 Micro account type is suited for all types of traders, especially those who are new to the Forex market.
MT4 is the most popular trading platform in the Forex market and used by millions of traders.
On OctaFX’s MT4 Micro account, you can trade with low cost, high leverage and without trading commissions.
The required minimum deposit amount is very low as 100 USD, thus OctaFX’s MT4 Micro account can be opened easily.
OctaFX’s MT4 trading platform has all the basic and advanced trading tools already built-in.
2. OctaFX MT5 Pro Account
OctaFX MT5’s Pro account type is suited for advanced traders who want to seek a more flexible and adjustable trading environment.
Both MT4 and MT5 trading platforms are developed by the same company, MetaQuotes.
When you log in to MT4 and MT5 trading platforms, you will see almost the same user-interface as both trading platforms offer very similar trading tools and options.
MT5 trading platform is advanced and has many additional tools and options.
Comparing to MT4, MT5 has more order types, chart types, technical indicators, timeframes and more.
For more information about the difference of MT4 and MT5 trading platforms, please see the article here.
OctaFX’s MT5 Pro account type requires 500 USD as the minimum deposit amount.
The account type only offers a floating spread from 0.2 pips.
3. OctaFX cTrader ECN Account
OctaFX’s cTrader ECN account is suited for progressive traders who seek a transparent trading environment.
On OctaFX’s cTrader ECN account, you are provided with the “Raw Spread” which does not include any mark-ups by OctaFX.
On OctaFX’s cTrader ECN account, you can trade from 0.2 pips Forex spread.
The trading cost is from 2 USD to 4 USD per standard lot for OctaFX’s cTrader ECN account type.
cTrader is an ECN (Electronic Communication Network) trading platform and its advantage is transparency and no market manipulation.
cTrader’s unique feature, “market-depth” shows the available liquidity at each price level and you can refer to them as an indicator of the market trend.
4. OctaFX Demo Trading Account
On OctaFX’s demo trading account, you can practice trading Forex and CFDs without risking your own funds.
When opening OctaFX’s demo trading account, you can select an account balance to credit it with, then you can start trading immediately with the virtual money to experience the almost-real trading condition of OctaFX MT4, MT5 and cTrader.
You cannot withdraw profits made in your demo account, but with OctaFX, you still have a great opportunity to earn cash rewards by participating in their demo trading contests.
You can participate in the above trading contests with a demo account with virtual money, then trade to win real cash rewards without risking your own funds.
There is no risk involved when trading with OctaFX’s demo trading account.
5. OctaFX Islamic Swap-Free Account
OctaFX’s Islamic Swap-Free account isn’t available only for traders with the Islamic faith.
All traders of OctaFX, can choose to trade with OctaFX’s Islamic Swap-Free account where there are no swap points credits or charges.
To own OctaFX’s Islamic Swap-Free account, you just need to enable “No swap” option for your trading account in one click right from the start.
Note that any traders can enable this “Swap-Free” option on OctaFX’s live trading account, but there will be “3 days fee” or “Weekend fee” charged for carried over positions.
Why you should choose OctaFX?
With only 100 USD of the minimum deposit amount, you can start trading Forex and CFDs with the professional broker OctaFX.
OctaFX provides its traders with MT4, MT5 and cTrader trading platforms.
These 3 of the most popular trading platforms in the world help you to invest online efficiently and maximize your profit rate with a number of analysis tools.
There are many reasons to choose OctaFX as your principal broker.
For more information you are recommended to vvisit OctaFX Official Website though, we are here to explain some of the main advantages of OctaFX.
1. Forex Raw Spread from 0.2 pips
On all trading account types of OctaFX, you can take advantage of the low trading cost from 0.2 pips.
For the fixed spread account of OctaFX MT4, the minimum spread starts from 2.0 pips.
Especially on OctaFX’s cTrader ECN account type, you are provided with the raw spread that does not have any mark-ups of OctaFX.
OctaFX’s raw spread provides you with 0.2 pips average spread on major Forex currency pairs.
Choosing OctaFX and trading Forex and CFDs mean that you are saving a lot of money that you could have spent on other brokers.
2. cTrader with ECN technology
One of the advanced and popular trading platforms, cTrader is available with OctaFX.
With OctaFX, you can choose from MT4, MT5 and cTrader trading platforms to use, and all trading platforms are free to download and trade on.
cTrader is an ECN (Electronic Communication Network) trading platform that prohibits service providers to interfere with clients’ orders or manipulate market prices.
Thanks to cTrader’s ECN technology, you can trade on the fair trading environment with the utmost transparency.
On OctaFX’s cTrader trading platform, you can also see the “Market Depth” window which shows you the available market liquidity at each market price in real-time.
OctaFX cTrader’s market depth window helps you to understand the market trend easily.
The main advantage of OctaFX’s cTrader trading platform is transparency and you can greatly benefit from the condition.
3. OctaFX MT4 for beginners
With OctaFX, you can also choose to use the MT4 (MetaTrader4) trading platform that is the most popular Forex trading platform in the world.
OctaFX MT4 is also the most popular choice among traders of the broker.
On OctaFX MT4, you can access and use all the classic and advanced trading tools for free.
As OctaFX does not have any restrictions in terms of trading strategies on the platforms, you are also free to run EAs (Expert Advisers) and apply custom indicators as you want.
While OctaFX has an in-house copy trading system, you can also access to MQL4 or MQL5 communities directly from OctaFX’s trading platforms to receive trading signals as you want.
4. OctaFX MT5 for advanced traders
MT5 is the advanced and newly developed trading platform after MT4.
While MT4 and MT5 look very same, MT5 has more options and tools available comparing to the classic MT4.
Specifically, OctaFX MT5 has more order types, chart types, timeframes, technical indicators, analytical objects, server options and also built-in email alert system.
If your trading strategy doesn’t require an advanced system and trading tools, then you can continue using OctaFX MT4.
If you seek advanced options and flexibility on the platform, then you may open the OctaFX MT5 trading account.
Both OctaFX MT4 and MT5 trading platforms can be downloaded from OctaFX Official Website for free.
OctaFX’s all trading platforms (MT4, MT5 and cTrader) are available for Windows, MAC, iPhone, iPad, Android and Tablet.
5. Islamic Swap-Free option for all traders
One great advantage of OctaFX’s service is the Islamic swap-free account that is available for all traders of the broker.
Normally, the Islamic swap-free account type is available only for traders with the Islamic faith, but in the case of OctaFX, any traders who wish to have the condition can have it without any requirements.
To activate the swap-free condition, you just need to enable the “swap-free” option on the account before start trading.
This Islamic swap-free option is available for all account types and platforms.
Note that when you activate the swap-free condition, your account will be charged with certain fees on carried over positions.
The cost for the carried over positions are different depending on the account type you choose with OctaFX.
6. No restrictions on trading strategies
OctaFX is an NDD (No Dealing Desk) broker with ECN (Electronic Communication Network) technology.
OctaFX provides you with a fair trading environment where you can perform any type of trading strategy without any limit.
OctaFX allows you to trade freely on all trading platforms, and you can perform scaling strategy, hedge positions and also run EAs (Expert Advisers) without worrying about any limitations.
Does your broker prohibit certain trading strategies or time limits on orders?
With OctaFX, you do not worry about it anymore.
7. Fast execution with minimal slippage
With OctaFX’s latest technology, you can trade with ultra-fast execution on all trading platforms.
The average execution speed on OctaFX’s platforms is less than 0.1 seconds.
All orders are executed instantly as the market prices are updated in real-time.
This fast execution minimizes the level of slippage too.
OctaFX assures all clients that all orders are executed instantly, fairly with minimal slippage amount.
8. NBP for all OctaFX live accounts
With OctaFX, you can stay safe from any exceeded losses as the broker supports NBP (Negative Balance Protection).
OctaFX’s NBP protects all traders from the risk of debt.
When trading on OctaFX’s MT4, MT5 and cTrader trading platforms you will not lose more than you deposit with.
In case the account balance goes below zero, as in negative, OctaFX fixes the account balance to zero so traders can start from the zero account balance instead of negative balance.
This NBP applies to all live trading accounts of OctaFX, so you can trade without worrying about such risk.
You can find out more about OctaFX’s NBP and how it works in the page here.
9. Live and Demo Trading Contest for cash rewards
For beginners in the Forex market, OctaFX provides a demo trading account with virtual money.
Normally demo accounts do not make actual profits or losses as the trading is only virtual and the demo account is normally used for trading practice.
With OctaFX, you can earn cash rewards by participating in demo trading contest.
OctaFX’s demo trading contest is available for MT4 and cTrader trading accounts.
You can participate in these contests for free for an opportunity to win cash rewards every week or month.
10. Deposit Bonus and Loyalty Program
Also for traders with a live trading account, OctaFX rewards well by giving away many types of bonuses.
Firstly when making a deposit to OctaFX, you can get a 50% Deposit Bonus that will support your trading activities with an extra margin.
When trading in a live trading account of OctaFX, you can earn loyalty points (status points) to earn extra bonuses and rewards.
By trading with OctaFX, you not only save a lot of money on the spread, trading cost, swaps, etc but also earn cash rewards by participating in these promotions.
To participate in OctaFX’s bonus promotions and trading contests, you can apply from the client portal.
11. OctaFX Copy Trading Program
While OctaFX allows traders to receive signals from MQL4 and MQL5 communities, you can also use OctaFX’s in-house copy trading system to directly copy trades from professional traders of OctaFX.
OctaFX’s copy trading system is available for both masters (professional traders) and investors (followers of the signals).
If you are new to the Forex and CFD markets, you can directly copy trades of profitable traders to your live trading account in real-time, so you will earn when the Masters (professional traders) earn in their accounts.
You can use OctaFX’s copy trading system for free through the client portal which you can log in from OctaFX Official Website.
12. Low deposit requirement from only 100 USD
To start trading Forex and CFDs with OctaFX, you don’t have to deposit a large amount.
Many brokers require at least 10,000 USD or more to have the best possible condition of the broker, but in the case of OctaFX, you can earn and trade with the best condition from only 100 USD of minimum deposit.
You are already recommended to deposit more and have enough margin in your account to reduce the risk of stop-out (liquidation), but trading from 100 USD and utilizing OctaFX’s up to 1:500 high leverage is also one option and a strategy for traders.