OctaFX Account Types offer a low-cost MetaTrader platform alongside a social copy-trading platform choice. The recommended minimum deposit is $100 USD, R1600 ZAR.
Min Deposit USD 25 Regulators CySEC, MISA, FSCA and FSC Trading Platform MT4, MT5, OctaTrader Crypto Yes Total Pairs 52 Islamic Account Yes Trading Fees No Account Activation 24 Hours
OctaFX Account Types – 7 Key Point Quick Overview
- ☑️Octa at a Glance
- ☑️Octa Account Types and Features
- ☑️How to Open an Octa Account – Step-by-Step Guide
- ☑️Customers Reviews
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Octa at a Glance
| Company Information | |
| 📅Year Founded | 2011 |
| Current CEO | Darrell E. Johnson |
| Founder/s | Georgios D. Pantzis |
| 🧑🏻💻Amount of staff | 694 |
| 👩💻Amount of active traders | Over 1,000,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, MWALI, FSCA |
| 🌎Country of regulation | Cyprus, Union of the Comoros, South Africa |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| Two-step Authentication | Yes |
| Stop-loss Instrument | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | OctaTrader Account, MT4, MT5 |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | USD, EUR |
| 💰Minimum Deposit | $25 / R447 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | No |
| 📊Spreads from | 0.6 pips |
| 💸Commissions | None |
| 💱Number of base currencies supported | 2 (USD, EUR) |
| 🚀Swap Fees | Yes |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | margin requirement of 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | In seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 277 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Trading Indices with GP | Yes |
| Trading Stocks with GP | Yes |
| Swap on trading board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | credit cards, debit cards, bank transfers, e-wallets (like Skrill, Neteller), and cryptocurrency |
| 💵Withdrawal Options | The same as deposit options |
| Trading Platforms and Tools | |
| 💻Trading Platforms | OctaTrader, MetaTrader 4, MetaTrader 5 |
| 👩💻OS Compatibility | Web, Mobile (iOS and Android) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes, available 24/7 |
| 📱Customer Support email address | support@octafx.com |
| 📞Customer Support Contact Number | N/A |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | English, Arabic, Chinese, Indonesian, Malay, Thai, and Vietnamese |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 4,600 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| Commission Fee | None on most accounts |
| Social Platforms | |
| Official Facebook Page | Yes |
| Official Twitter Page | yes |
| Official Youtube Channel | yes |
| Official Linkedin Page | yes |
| Official Instagram Page | yes |
| Official Website address | yes |
| South African Trader Specific Information | |
| Does Octa Accept South African Traders? | Yes |
| Is Octa regulated by the South African regulatory body (FSCA)? | Yes |
| Does Octa offer an Affiliate Program for South African Traders? | Yes |
| Does Octa allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | Open Account |
Octa Account Types and Features
| 🔎 Account | 🥇 Octa MT5 | 🥇 Octa MT4 | 🥇 OctaTrader |
| ✅ Recommended for | Smart Traders | Habitual Trader | Smart Traders |
| 💰 Min Deposit | $25 USD | $25 USD | $25 USD |
| 🔁 Spreads from | 0.6 Pips | From 0.6 pips | From 0.6 pips |
| 💵 Commission | No | No | No |
| ➕ Max Leverage | 1:1000 | 1:1000 | 1:1000 |
| 📉 Min Volume | 0.01 Lot | 0.01 Lot | 0.01 Lot |
| 📈 Max Volume | 500 Lots | 500 Lots | 500 Lots |
| 📊 Hedging | Yes | Yes | Yes |
| 📌 Scalping | Yes | Yes | Yes |
| 👉Open an Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
OctaTrader Account
The OctaTrader Account is intended for traders who want a simple and efficient trading experience. This account type is ideal for both new and experienced traders in South Africa, as it strikes a compromise between simplicity and functionality.
Traders who use OctaTrader accounts get competitive spreads and access to various trading products. The account’s user-friendly layout makes it easier for traders to navigate and manage their trades. Furthermore, this account type frequently includes increased support services, which provide traders with rapid advice and direction.
| 🔎 Account Feature | ℹ️ Value |
| 💴 Minimum Deposit Requirement | 460 ZAR |
| 📈 Average Spreads | Floating, from 0.6 pips |
| 💵 Commissions charged | None; mark-up is added to the spread |
| 📉 Instruments offered on account | 35 Forex Pairs Gold and Silver 3 Energies 10 Indices 30 Cryptocurrencies |
| 📊 Leverage Ratios | Forex – up to 1:1000 Precious Metals – up to 1:400 Energies – up to 1:400 Indices – up to 1:400 Crypto – up to 1:200 |
| 💹 Minimum Trading Volume | 0.01 lots |
| 📌 Maximum Trading Volume | 200 lots |
| 📍 Margin Call | 25% |
| ⛔ Stop-Out | 15% |
| 🖱️ Trade Execution Type | Market |
| ⏱️ Trade Execution Average Speed | Under 0.1 seconds |
| 💳 Base Account Currency Options | USD or EUR |
| 📚 Trading Strategies Allowed | Hedging, Scalping, Expert Advisors |
| ☪️ Islamic Account Offered | Yes |
| 👉Open an Account | Open Account |
MetaTrader 4 Account
MetaTrader 4 (MT4) Account caters to traders who seek a trustworthy and established trading platform. Renowned for its proficient charting utilities, automated trading functions, and comprehensive market analysis capabilities, MT4 is highly recognized within the community.
| 🔎 Account Feature | ℹ️ Value |
| 💴 Minimum Deposit Requirement | 460 ZAR |
| 📈 Average Spreads | Floating, from 0.6 pips |
| 💵 Commissions charged | None; mark-up is added to the spread |
| 📉 Instruments offered on account | 35 Forex Pairs Gold and Silver 3 Energies 6 Indices 34 Cryptocurrencies 149 Stocks 21 Intraday Assets |
| 📊 Leverage Ratios | Forex – up to 1:1000 Precious Metals – up to 1:400 Energies – up to 1:400 Indices – up to 1:400 Crypto – up to 1:200 |
| 💹 Minimum Trading Volume | 0.01 lots |
| 📌 Maximum Trading Volume | 200 lots |
| 📍 Margin Call | 25% |
| ⛔ Stop-Out | 15% |
| 📚 Trade Execution Type | Market |
| ⏰ Trade Execution Average Speed | Under 0.1 seconds |
| 💶 Base Account Currency Options | USD or EUR |
| 💱 Trading Strategies Allowed | Hedging, Scalping, Expert Advisors |
| ☪️ Islamic Account Offered | Yes |
| 👉Open an Account | Open Account |
MetaTrader 5 Account
The MetaTrader 5 (MT5) Account offered by Octa is tailor-made for traders seeking cutting-edge trading technology. It provides a more sophisticated version of the MT4 platform, incorporating additional timeframes, robust order management systems, and enhanced analytical capabilities.
| 🔎 Account Feature | ℹ️ Value |
| 💴 Minimum Deposit Requirement | 460 ZAR |
| 📈 Average Spreads | Floating, from 0.6 pips |
| 💵 Commissions charged | None; mark-up is added to the spread |
| 📉 Instruments offered on account | 52 Forex Pairs Gold and Silver 3 Energies 10 Indices 34 Cryptocurrencies |
| 📊 Leverage Ratios | Forex – up to 1:1000 Precious Metals – up to 1:400 Energies – up to 1:400 Indices – up to 1:400 Crypto – up to 1:200 |
| 💹 Minimum Trading Volume | 0.01 lots |
| 📌 Maximum Trading Volume | 200 lots |
| 📍 Margin Call | 25% |
| ⛔ Stop-Out | 15% |
| 🖱️ Trade Execution Type | Market |
| ↪️ Trade Execution Average Speed | Under 0.1 seconds |
| 💷 Base Account Currency Options | USD or EUR |
| ⚙️ Trading Strategies Allowed | Hedging, Scalping, Expert Advisors |
| ☪️ Islamic Account Offered | Yes |
| 👉Open an Account | Open Account |
Demo Account
Octa is committed to fulfilling the demands of South African traders by providing specialized functionalities that address their distinct specifications.
An example of such a feature is the Octa Demo Account, carefully crafted to replicate authentic market conditions and offer a seamless trading experience. This indispensable resource, replete with substantial virtual capital, is accessible to traders based in South Africa.
It is an optimal platform for inexperienced and seasoned traders seeking to refine their abilities and approaches before engaging in live trading. Utilizing the Octa Demo Account is crucial, regardless of your level of trading experience or desire to improve your strategies. Furthermore, Octa emphasizes the significance of augmenting trading expertise among South African individuals through its Champion Demo Contest.
This vibrant competition grants traders a platform to exhibit their talents and compete for enticing monetary incentives, thus illustrating Octa’s unwavering commitment to promoting success amongst its customers in South Africa.
Islamic Account
Octa’s trading accounts have been carefully designed to adhere to these criteria, eliminating the need to separate a live trading account from an Islamic account. Furthermore, Octa’s commitment to inclusion and tolerance for different trading preferences means that all traders can easily engage in ethical and interest-free trading activities.
South African traders can trade confidently, knowing that Octa’s regular trading accounts are consistent with Islamic standards. This allows them to pursue their financial goals while being true to their faith.
How to Open an Octa Account step by step
To open an account with Octa, South Africans can follow these steps:
Step 1: “Open Account”
Visit the Octa official website.
Locate and click the “Open Account” button on the website’s main page.
Step 2: Sign Up
- Fill in the required fields, such as your name, email address, and phone number.
- Choose between a real and a demo account based on your trading preferences.
- You will shortly receive an email from Octa with a confirmation link for your email address. To proceed, click on this link.
- To finish setting up your account, follow the on-screen prompts.
- Deposit at least 460 ZAR ($25) to activate your real account.
- After funding your account, you can begin trading Forex and CFDs with Octa’s extensive trading tools and features.
To close a live trading account with Octa, South African traders can follow these steps:
- Navigate to the “Contact Us” section of Octa’s website.
- Contact customer service by live chat, email, or social media.
- Inform the customer support agent of your intention to close your account; they will walk you through the procedure and may require extra identity verification.
- To ensure a smooth account closure, check that any ongoing trades are closed and any outstanding fees or charges are settled before proceeding.
- Octa may request particular identity documents, such as a copy of your driver’s license or passport, so be prepared ahead of time to speed up the closing process.
- Once complete, contact customer service again to confirm the closure of your account. They will provide any further information or direction required to facilitate a smooth closure.
Min Deposit USD 25 Regulators CySEC, MISA, FSCA and FSC Trading Platform MT4, MT5, OctaTrader Crypto Yes Total Pairs 52 Islamic Account Yes Trading Fees No Account Activation 24 Hours
Customer Reviews
🥇 Strong Choice!
Octa has been operating powerfully, particularly in transaction services. The addition of an indicator table, such as the MACD, beside the trade chart, on the other hand, would improve the overall experience. – Mia Jacobs
🥈 Highly Recommend
Octa is a highly recommended product. It combines excellent customer support with a fantastic trading experience, making it the clear choice for traders, particularly newbies. – Benjamin Dlamini
Octa provides traders with the necessary flexibility while keeping low spreads and a transparent trading environment. It is a must-have option for any trader. – Aaron Van Zyl
Pros and Cons
| ✅ Pros | ❌ Cons |
| Regulated by SVGFSA | Limited assets |
| Unlimited demo account | Low Crypto coverage |
| Advanced technology | No VPS |
| Forex and CFDs offered | No education tools on Forex |
| More than 80 pairs to trade | No clients from USA, Canada, Belgium, or others outside EU |
Conclusion
OctaFX Account Types offer a low-cost MetaTrader platform alongside a social copy-trading platform choice – suited to both beginner and professional traders alike.
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Frequently Asked Questions
Which live trading accounts does Octa offer?
OctaFX trading accounts are defined by your selected trading platform and include: the Octa MT5 Account, the Octa MT4 Account, and the cTrader Account.
Is Octa a good and legit broker?
Our review reveals that Octa is legit as it is registered in Saint Vincent and the Grenadines and holds a license from CySEC, (Cyprus) which imposes regulations according to European ESMA standards.
Does Octa offer a demo account?
Yes, Octa offers a free demo account to all new traders.
Does OCTAFX offer an Islamic Account option?
Yes, Octa does offer Islamic or Swap-Free Forex trading account options.
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