An Expert Review of OctaFX - A Guide for Traders

At DayFunded, our goal is to help traders make informed decisions about where to put their capital to work. Today, we bring you a comprehensive review of a popular player in the brokerage industry, OctaFX.

Broker Overview: Who is OctaFX?

OctaFX is a forex broker owned and managed by the Octa Markets Incorporated and Octa Markets Cyprus Ltd. Launched in 2011, the company has a solid decade of operation under its belt, serving both novice and experienced traders.

Despite its relatively moderate average rating of 6.7, OctaFX has gained a reputation for its low spread, strong regulation, and an array of features making it a suitable option for many traders worldwide.

Unfortunately, US-based traders aren’t catered for at OctaFX as of the moment. However, it remains a viable platform for traders from many other countries.

Account Requirements and Features

OctaFX offers traders the benefit of starting with a significantly low minimum account size of $100, making it a viable option for traders exploring the forex market without a hefty initial investment.

The minimum position size is 0.01, compatible with risk management requirements and techniques of most trading strategies. OctaFX is also commendable for its serious regulation, ensuring that traders' rights and investments are secured.

For the high-risk takers among us, note that we weren't able to discern the maximum leverage offered due to some unclear information. Hence, it's advised that you inquire with the company directly.

OctaFX Features: Trading by Phone and More

Beyond the basic offerings, OctaFX sets itself apart with some notable trading features. For those who prefer the on-the-go trading experience or seek a break from screens, OctaFX offers trading by phone. This can be an essential feature for traders who need to react quickly to market changes without access to their trading platforms.

Moreover, OctaFX keeps traders' funds in segregated accounts, providing an extra layer of security. Participating in trading contests is another unique feature OctaFX offers, providing an interesting way for traders to test their skills and win prizes.

Finally, OctaFX offers bonus systems to improve the trading experience and potentially increase profitability.

Our Takeaway

OctaFX presents itself as a trustworthy brokerage option with numerous benefits. Considered seriously regulated, it provides protection for traders, and a low minimum position size allows for inclusive trading. While it lacks in catering to US traders and clarity in revealing its maximum leverage, OctaFX offers an overall well-rounded trading platform especially beneficial for beginners with its low account setup costs and innovative features such as phone trading and trading contests.

Stay tuned for more in-depth reviews and trading insights with DayFunded. Happy trading!