OctaFX Fees and Spreads

OctaFX - Fees & Spreads

 

OctaFX Fees and Spreads

 

OctaFX fees spreads and commissions start from $7 with spreads as low as 0.0 pips.

OctaFX has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips along with commissions charged from $0.02 per 0.01 lot using the ECN CTrader account.

 

OctaFX trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:

  • MT4 Micro Account – minimum deposit of $100, leverage up to 1:500 for Forex, 1:200 for metals, 1:50 for indices, and 1:2 for cryptocurrencies, floating spreads from 0.4 pips, fixed spreads at 2 pips, zero commissions charged on trades.
  • MT5 Pro Account – minimum deposit of $200, leverage of up to 1:200 for Forex, 1:100 for metals and energies, 1:50 for indices, 1:2 for cryptocurrencies, floating spreads from 0.2 pips and zero commissions.
  • cTrader ECN Account – minimum deposit of $100, leverage of up to 1:500 for Forex and 1:200 for metals, floating spreads from 0 pips and commissions from $0.02 per 0.01 lot.

 

The minimum deposit that OctaFX requires to open an account is $100 which is average when compared to other brokers who offer similar trading conditions.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

OctaFX offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.

OctaFX does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

OctaFX does not charge any deposit fees or withdrawal fees.

There is no indication that OctaFX waives any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management. Before opening an account, traders will have to verify the possibility of additional fees with the broker.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      None noted
2.      Low minimum initial deposit amount
3.      Fixed commissions on trades
4.      Low commissions when compared to other brokers

 

FAQ

 

How many instruments can I trade with OctaFX?

You can trade the following instruments:

  • Forex
  • CFDs
  • Cryptocurrencies
  • Commodities, and
  • Stocks

 

Which platforms are supported by OctaFX?

OctaFX provides the following popular trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

 

Does OctaFX offer leverage?

Yes.

Depending on the type of account the trader uses, leverage varies from 1:5 up to 1:500.

 

What spreads can I expect with OctaFX?

Spreads from as little as 0.0 pips.

 

Does OctaFX charge commission?

Yes.

Commissions are charged when making use of the cTrader ECN account at $0.02 per 0.01 lot traded.

 

Is OctaFX regulated?

Yes, OctaFX is regulated by the highly reputed CySEC in Cyprus and FSA in SVG.

 

Is OctaFX a recommended forex trading broker for experts and beginners?

Yes, OctaFX is suitable for both beginner and expert traders.

 

What is the overall rating out of 10 for OctaFX?

7/10