Overall Rating
4.6/5
Rated #51 of
Recommended FX Brokers
Minimum Deposit
USD 5
Regulators
FCA UK
No Trading Desk
Yes
28
Islamic Account
Yes
Trading Fees
Low
24 Hours
Our OctaFX Fees and Spreads Revealed:
Fees and Spreads
The spread list that OctaFX offers starts from 0.6 pips on EUR/USD.
The spread list that traders can expect when they trade with OctaFX will depend on the financial instrument that is being traded, the market conditions on the day that they trade, and the account that they use.
The typical spreads that are offered on the two account types start from 0.6 pips EUR/USD. OctaFX does not charge any commissions on trades but instead marks the spreads up by a few pips to account for the broker fees in facilitating the trade.
Additional Trading Fees
Overnight fees, also known as swap fees or rollovers, are either credited or debited depending on the financial instrument being held and whether the trader is holding a long or short position. OctaFX offers the option for an Islamic Account on the OctaFX MT5 Account while traders who use the OctaFX MT4 Account are subject to swap fees.
Some typical overnight fees on a fixed trading volume of 10 lots can be broken down as follows:
- EUR/USD – a fixed short fee of -6.4 USD and a long fee of -10.3 USD
- GBP/USD – a fixed short fee of -11.7 USD and a long fee of -9.4 USD
- XAG/USD – a fixed short fee of -14 USD and a long fee of -23.5 USD
- NAS100 – a fixed short fee of -80 USD and a long fee of -80 USD
- BTC/USD – a fixed short fee of -20 USD and a long fee of -20 USD
OctaFX is not a spread betting broker which means that spread betting fee will not apply.
Broker Fees
OctaFX does not charge deposit fees or withdrawal fees on any of the payment methods that are supported. However, even in the absence of such broker fees, traders may still be subject to processing fees charged by their financial institution.
Pros and Cons
You might also like: OctaFX Account Types
You might also like: OctaFX Demo Account
You might also like: OctaFX Islamic Account
You might also like: OctaFX Minimum Deposit
Overall Rating
4.6/5
Rated #51 of
Recommended FX Brokers
Minimum Deposit
USD 5
Regulators
FCA UK
No Trading Desk
Yes
28
Islamic Account
Yes
Trading Fees
Low
24 Hours
FAQ
How many instruments can I trade with OctaFX?
You can trade any of the following instruments:
- Stocks
- Commodities
- Index CFDs
- Forex
- Cryptocurrencies
Which platforms are supported by OctaFX?
OctaFX supports the use of:
- OctaFX Trading App
- MetaTrader 4
- MetaTrader 5
Does OctaFX offer leverage?
Yes, OctaFX offers leverage according to the financial instruments that can be traded through MetaTrader 4 and MetaTrader 5 as follows:
- Forex – up to 1:500 except on ZAR/JPY which is capped at 1:100
- Metals (Silver and Gold) – up to 1:200
- Energies – up to 1:100
- Indices – up to 1:50
- Cryptocurrencies – up to 1:25
What spreads can I expect with OctaFX?
You can expect floating spreads from 0.6 pips EUR/USD on MetaTrader 4 and MetaTrader 5.
Does OctaFX charge commission?
No, instead of charging a commission on trades, OctaFX offers marked-up spreads that include the broker fee for facilitating trades.
Are there additional charges on the Islamic account?
No, there are no additional charges on the Islamic Account.
Is OctaFX regulated and by whom?
Yes, OctaFX is regulated by CySEC and FSA SVG.
Is OctaFX a recommended forex trading broker for experts and beginners?
Yes, OctaFX is recommended for both beginners and experts.
What is the overall rating out of 10 for OctaFX?
7/10.
