Octa Markets incorporated in 2011 and its center of operation is located in Jakarta, Indonesia. It has set its eyes on Asia as its primary market, but it also offers its services in 100 different countries around the world. Unfortunately, clients from the United States are not accepted at the time being.
There are many Forex brokers, so it is important to look and review regulatory compliance and to see if the firm has good reviews from its clients and/or has won some significant awards. Through the years, OctaFX has garnered several awards, including the “Best ECN Broker in Asia (2014)” and “Best Broker Central Asia (2014),” as reported by The Global Banking and Finance Review and the Forex Report Magazine. Both provide news regarding finance industry and global banking. The details about the no less than 6 awards that the company has won from 2012 through 2014, are found on the firm’s own website.
Why Trade with OctaFX?
- Clients of OctaFX are provided with fast execution, no “sloppage,” no-requotes and tight spreads because the company operates as a Straight Through Processing (STP) ECN broker.
- Supports MetaTrader4 as their trading platform, or clients can use their “cTrader” series, for trading which has additional functions that are not available in MT4 modules.
- Trading options available, including major currency pairs, along with gold and silver.
- Holds regular promotional programs and contests for traders of all skill levels.
- 6-time award winners for their services offered from 2012 to 2014 .
- Regulated by the FCA, meaning no-one else can trade against you because there is no trading room or dealing within the ECN environment.
- Offers clients 4 different account types. Beginners can dabble in Micro to Mini accounts and ECN accounts are available for the more advanced trader.
- “24/7” customer service on market days.
- Clients can rest assured with safe and secure accounts; segregated from the firm’s operating capital.
- ECN spreads begin at 0.2 pips and micro-lots at the size of 0.01 are available for everyone, which is up to 1:500 leverage.
- When depositing, and withdrawing funds, clients can use normal channels like Bank Wire Transfers, Skrill (Moneybookers), Visa/MasterCard and CashU. Domestic payment methods are also supported.
- The minimum deposit for a Micro account is $5 and the currency can either be USD or EUR.
Withdrawals and Regulations
Withdrawal requests are processed immediately after the client confirms the email the company sends, as long as the client’s personal ID info is on file and in order. There are also specific rules that every global Forex broker must follow before any withdrawal request can be approved since International anti-money laundering requires it.
With the favorable reviews they have and the awards that they garnered, it is in good sense to choose OctaFx.