OctaFX provides to thousands of traders worldwide. Traders Union experts have done deep research to put together the most important information about this trading website. If you are wondering whether this brokerage firm is worth trying, this article is a must-read for you. We will provide you with a detailed review of the key aspects of this broker’s activities.
OctaFX Trading Accounts
The brokerage firm offers two main types of trading accounts — OctaFX MT4 and OctaFX MT5. As you may guess from those names, one of the most important differences between them is that OctaFX MT4 offers access to the Metatrader 4 platform, while OctaFX MT5 is built around the Metatrader 5 trading platform.
Both trading accounts allow you to trade with tiny spreads. You can benefit from 0.6 pip floating spreads, which is a good opportunity for high-frequency traders to apply a variety of strategies. While there are no minimum deposit requirements, OctaFX recommends its customers to start with $100.
As for the trading instruments, OctaFX offers 35+ currency pairs (both majors and exotic), as well as various CFDs for stocks, indices, metals, energies, and cryptocurrencies. All trading instruments except currency pairs are available via contracts for difference (meaning you don’t buy a financial asset itself, but a contract for it).
The maximum leverage is 1:500, meaning you can significantly boost your trading opportunities and buy even more than you could do with your initial deposit amount. The OctaFX MT5 account comes with no swap, while the OctaFX MT4 one allows you to choose between swap and swap-free commissions.
OctaFX Pakistan offers two trading platforms — Metatrader 4 and Metatrader 5. Both are suitable for various types of traders, including those who do their first steps in trading.
Metatrader is famous for its multiple features that you can benefit from when dealing with this trading platform. The desktop version allows you to use 50+ trading indicators, various graphic analysis tools (including three types of charting), strategy tester, macroeconomic news, etc.
Additionally to those features, you can add any type of trading indicator, script, or bot that is written on the MQL4 programming language.
Metatrader platform comes in a variety of versions. Thus, you can start trading right away using the web platform. You can also enjoy dedicated apps for iOS and Android.
Bonus Offers and Autochartist Feature
Not many brokers offer various promotions to their clients. However, to make its services even more attractive for Pakistani traders, OctaFX provides customers with various additional opportunities. Thus, you can start with a 50% deposit bonus. To start benefiting from this bonus, you simply need to sign up with the brokerage firm, deposit funds using one of the available payment methods and claim the promotion.
One of the advantages of participating in this promo campaign is that it offers transparent conditions. You can calculate the rollover amount by simply dividing the bonus amount by 2. For instance, if you have deposited $200, your bonus amount is $100. Thus, your number of lots to trade is 50.
OctaFX allows you to improve your trading results by using a special Autochartist feature. It allows you to save time and effort on analyzing charts and focus on other tasks like better money and risk planning.
Traders Union Experts Verdict
OctaFX offers a variety of services allowing Pakistani traders to buy and sell various types of assets, as well as to benefit from the most prominent trading platforms — Metatrader 4 and Metatrader 5. The brokerage firm offers trader-friendly and transparent conditions, which are attractive for both low- and high-frequency traders.