In this OctaFX review, we will be answering most of the pertinent questions about the forex trading platform. Most traders as well as aspiring traders who have come in contact with the forex company, OctaFX have been asking a single question in the heart of many is, ‘’is OctaFX a legit and reliable forex trading company in Nigeria?
Don’t worry, this article is designed to help answer that question, as we seek to provide yet more helpful details about the company.
About OctaFX: What is OctaFX?
The company called OctaFX is one of the few brokers in Nigeria that offers MT4 and MT5 on their platform to all investors or traders.
OctaFX is one of the financial trading companies in Nigeria. One that provides or offers the Ctrader platform which is developed for traders looking for STPIECN Solution.
There are thousands of forex brokerage providers online and around the world, and each tries hard to impress and present their own unique approach method of trading, all in order to stand out of the pack. Some even claim to have the solution to extra fast execution and utmost transparency. Of course, these are all in a bid to stand out in the industry, and sadly it is scarcely found. At the end, most of their spurious claims and offers end up as false or half-truth.
Therefore, to find a forex broker whose claims are true, exhibits utmost transparency, and is fast enough to help the trade get desired profits as at when due, is worth a second look.
OctaFX tries to amalgamate all these qualities in one distinct product for all their traders, and this amalgam is fused into one product is called ‘’CTrader’’.
All promotions campaign of the company OctaFX revolves around this product. In short, there are 3 major platforms from which you can choose as your means of trading.
The Ctrader has a few but strong and prominent features inside of it, these features are what make this initiative attractive. It contains features to ensure trading on this platform is transparent. It is partly automated, with some measure of automated trading, and operates in an efficient way.
There are other features on this platform that makes it genuinely innovative and interesting to think about. Because of this generally good service offering, the company had over the years enjoyed good reviews through this single platform, but before more about their reviews, let us see what OctaFX is really all about.
Who Is The Owner OctaFX?
There is sadly not much information about the promoters and the ownership of OctaFX as a company and global player.
What are their goals?
In the area of their company objective, aims, and goals, OctaFX stands out of the lot. There are so many exchanges and brokers who are all so eager and willing to share such information so as to win new customers. They focus more attention on making their services seamless for their customers.
By offering short spreads, they focus more on the platform to make trading more beneficial and rewarding to the customers under their financial net.
Although they have their origin in Asian region, they seem to focus their primary responsibility and service delivery to people from the Asian region, namely Bengali, Indonesians, and the Chinese to a lesser extent.
This doesn’t mean you will get poorer service if you are not a Bengali. What this simply implies is that the person from Bengali will get premium attention before others. The same applies to people from Indonesia and china. This is due to the fact that the platform was initially set up to protect the trading of these people globally before the rest of their customers. Optimally, everyone will be given attention and quality service no matter what.
What Is OctaFX Islamic Account Offer?
Their Islamic account offer is quite attractive and offers the following to prospective clients:
- No interest for overnight positions
- Fixed fees
- Weekly rollovers of 20 USD for CTraders
- Swap-free trading on accounts
Many market reviewers view this offer as a good one because it is open to anyone without restrictions.
Another free feature to members on the platform is that you can enjoy good trading decisions through the vast and extensive supply of analytical and educational readings whenever you are signed up for trading-related activities.
What is OctaFX Copytrading?
Once you are signed up for the OctaFX copytrading program, all your positions will copy that of any master of your choice. Also, they offer several good referral programs.
OctaFX Global Reviews
THEIR INTERNATIONAL RATINGS
There are a couple of international rating platforms that checkmates companies and gives ratings to ascertain what they may be doing privately in trust of people’s funds.
If you visit the popular review aggregators such as TrustPilot, you will see that OctaFX ratings is about 4.5 star from over 1700 people. However, it is worthy of mention that you still trade with care as TrustPilot reviews doesn’t mean everything is all good.
OctaFX As A Forex Broker
OctaFX is a forex broker/trader that duly offers the MT4, MT5 and CTraders forex trading platform. OctaFX offers over 25 forex currency pairs, CFDs, commodities, stocks, gold, silver, oil, bitcoin, and other cryptocurrency investments and trading options.
Advantages of OctaFX
So what makes OctaFX beneficial to the average person on the street desiring to trade with them in Nigeria?
Speedy Deposit and Withdrawal:
The withdrawal and easy deposit of funds which can be very fast is a strong beneficial advantage in this platform. It is one of the things they highlight on their platform.
Disadvantage of OctaFX Trading Platform
Based on a couple of accusations, it is believed the prices here aren’t free from manipulations. The owners have been severally accused of manipulating spreads, price drops, and prices in general.
Despite all the numerous accusations which cannot be captured in this piece, I think it may be unfair to hastily and generally conclude such, as the OctaFX team generally is trying so hard with great technological innovation to make the trading experience smooth and seamless for the average prospective trader out there.
I will like to wind down this OctaFX review by saying that most of the OctaFX offers are attractive. The platform makes trading comfortable for the trader. However, it may be open to manipulation and grossly untrustworthy. Regardless, the final decision is in your hands to either give it a try or leave it.