OctaFX is a well-established online trading platform that offers a wide range of instruments and features to its users. With over 35 currency pairs, including major ones such as EURUSD, GBPUSD, GBPJPY, USDJPY, USDCHF, and AUD/USD, traders can choose from various options to suit their trading strategies.
CFD Stocks: Trading with Leverage
OctaFX also offers CFD stocks, which allows traders to trade on the performance of popular companies like Apple, Google, Amazon, Tesla, Walmart, Nvidia, and many more. The platform offers a leverage ratio of 1:20 without commission, making it an attractive option for traders who want to gain exposure to the stock market with minimal capital requirements.
Indices: Trading with Leverage
The platform also provides access to 10 indices CFDs, which include major indexes such as AUS200, UK100, FRA40, JPN225, GER30, ESP35, EUSTX50, US30, NAS100, and SPX500. With a maximum leverage of 1:200, traders can amplify their gains while trading on these popular indices.
Commodities: Trading with Leverage
OctaFX also offers commodities trading, including Gold XAGUSD, Silver XAUUSD, and Crude Oil XBRUSD. The platform provides a leverage ratio of up to 1000:1 for crude oil and natural gas, making it an attractive option for traders who want to gain exposure to the commodities market.
Cryptocurrencies: Trading with Leverage
The platform also offers cryptocurrency trading, with over 30 pairs available, including popular ones like Bitcoin, Ethereum, Litecoin, Solana, Dogecoin, and more. With a maximum leverage of 1:25, traders can amplify their gains while trading on these highly volatile assets.
Leverage Ratio: Different for Each Instrument
One of the key features of OctaFX is its leverage ratio, which varies depending on the instrument being traded. For example, forex trades have a maximum leverage of 1:500, CFD stocks and indices have a maximum leverage of 1:20 without commission, commodities have a maximum leverage of up to 1000:1, and cryptocurrencies have a maximum leverage of 1:25.
Copy Trading with Risk Score
OctaFX also offers copy trading features, which allows traders to copy the trades of experienced traders, known as Master Traders. The platform has introduced a risk score feature for each Master Trader's strategy, which is calculated based on their average profit, number of orders, and how stable their strategy is. This allows traders to make informed decisions when choosing which Master Trader to follow.
Minimum Deposit: $100
OctaFX also offers a minimum deposit requirement of just $100, making it an attractive option for new traders who want to start trading with minimal capital requirements.
Spread: Low and Competitive
The platform also provides low spreads, starting from 0.7 pips for EUR/USD, which is competitive in the market.
Swap-Free Account
OctaFX offers swap-free accounts, which means that traders do not have to pay overnight fees when trading until the next day.
Fees: No Deposit or Withdrawal Fees
The platform also does not charge any deposit or withdrawal fees, although banks and payment service providers may impose their own fees.
Customer Support: 24/7
OctaFX provides 24/7 customer support through live chat, phone, email, Telegram, WhatsApp, and other channels.
Limitations: No License from Bappebti
One of the limitations of OctaFX is that it does not have a license from Bappebti to operate in Indonesia. This means that traders in Indonesia may face challenges when accessing the platform or using certain features.
Website Blocked: Requires VPN
Another limitation is that the website is blocked by Kominfo, which requires traders to use a VPN (Virtual Private Network) to access the site.
No Official Office in Indonesia
Finally, OctaFX does not have an official office in Indonesia, which may limit its ability to provide support or services directly to traders in the region.