Does OctaFX give money?
Yes, we do. You can open as many demo accounts as you want in your profile to practice and test your strategies. You can also create the OctaFX Champion Demo Contest account to compete with other traders and win money.
You can only withdraw money after verifying your profile—this is required by law.
OctaFX offers all new clients a free $8 Welcome Bonus on opening an account. Clients can use this money to trade in the live markets and gather market knowledge before putting their own money at risk.
Octa Markets Cyprus Ltd is an investment firm registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) using the domain OctaFX.eu. This enables users to trade with a broker under European regulatory oversight with enhanced levels of safeguards.
The OctaFX minimum withdrawal amount is between $5 and $50, dependent on the payment processor. OctaFX does not levy internal withdrawal fees, but traders may face third-party payment processor costs, blockchain fees, and currency conversion charges.
Monday through Friday, the payment will be settled in your account in 1–3 hours, but in rare cases, it might take up to one business day. Saturday and Sunday requests are queued on Monday morning.
OctaFX maintains a commission-free trading environment in both of its account types. The minimum OctaFX fees for Forex traders start from 0.6 pips or $6.00 per 1.0 standard lot, but the average cost for major currency pairs is closer to 1.0 pips or $10.00.
Make a deposit
At OctaFX, you can start trading with a minimum of $25. The minimum deposit can vary depending on your region and the payment method. According to the Risk Management basics, the more funds you have, the fewer risks you are exposing yourself to.
The OctaFX minimum deposit is $25 for both commission-free trading accounts, but OctaFX recommends $100 as a starting minimum. Explore additional up-to-date info about OctaFX, in our OctaFX broker review. The OctaFX minimum deposit requirements are: OctaFX MT4 account (OctaFX minimum deposit of $25, NDD/STP account)
no commission on deposit and withdrawal. lowest spreads in the industry. various deposits and withdrawals methods. negative balance protection.
Is OctaFX available in USA?
While OctaFX supports users from more than 180 countries, the company does not yet have regulatory permission to offer services to US customers.
1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds.
👉 OctaFX charges a minimum deposit amount starting from 100 USD. 👉 This is equal to 41,500 Nigerian Naira (NGN) at the exchange rate between the United States dollar and the Nigerian Naira.
OctaFX is considered high-risk, with an overall Trust Score of 69 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), two tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Learn more about Trust Score.
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- Open the Monitoring page in your Personal Area.
- Find the number of the account in the Your monitored accounts list.
- Press Remove account.
| OctaFX | FirewoodFX | |
|---|---|---|
| Established | 2011 | 2014 |
| Min Deposit | $25 | $10 |
| Max Leverage | 1:500 | 1:1000 |
| Website | Visit | Visit |
Georgios D. Pantzis - CEO / General Manager - OCTAFX | LinkedIn.
1 US$ = 55 Rs.
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Is FOREX.com better than OctaFX?
| Trading Platforms | FOREX.com | OctaFX |
|---|---|---|
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
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Our verdict on OctaFX.
| 🏦 Min. Deposit | USD 25 |
|---|---|
| 🖥️ Platforms | MT4, MT5 |
| 💱 Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals, Stock CFDs |
How long can you hold a trade in Octafx?
Expiration period of real accounts: MetaTrader 4: 30 days. MetaTrader 5: 14 days. OctaTrader: unlimited.
You'll see live trading signals, charts, and trading assets absolutely free!
- Log in to your Personal Area.
- Open the Settings drop-down menu next to your name.
- Go to the Change passwords page.
- Select OctaFX PIN.
- Enter your current OctaFX PIN and then the new OctaFX PIN—twice.
- Press the Change button to apply the changes.
After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal. At Forex.com, the withdrawal process is usually executed within >3 days.
Forex Trader salary in OctaFX India Pvt. Ltd. ranges between ₹ 2.5 Lakhs to ₹ 30.0 Lakhs per year.
Is forex trading legal in the United States? Yes, forex trading is legal in the U.S. and regulated by the Commodity Futures Trading Commission (CFTC). Forex brokers in the U.S. are required to register as Futures Commission Merchants (FCMs) and Forex Dealer Members (FDMs) with the CFTC and NFA.
The answer is yes. Forex traders are required to pay tax on their profits. Forex trading is considered a business, so the profits from forex trading are taxable. Normally, forex traders are subject to income tax in the country where they live, and that is the same case when you come to the United States.
XM does not provide services to residents of the United States of America.
However, if you want to withdraw money from your forex trading account, you will have to fill out a form which is available online with your forex broker. If your bank account is linked to your forex trading account (and it likely will be), you can make a request for funds to be credited directly to your bank account.
The Minimum Amount To Start Forex Trading Now
If you must start trading right away, you can begin with $100 but for a little more flexibility, you will need a minimum of $500. This will give you enough buying power to trade a standard lot, which is 100,000 units of currency.
Can you lose in OctaFX?
Is it possible to lose more than I deposited? What if account's balance becomes negative? OctaFX offers negative balance protection, so whenever your balance becomes negative we automatically adjust it to zero. OctaFX guarantees that your risk is limited only to the funds you have deposited into your account.
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Not authorised by RBI
The ED said that the OctaFX app and its portal version have not been authorised by the Reserve Bank of India (RBI) to deal in forex trading so their "conduct and operations are illegal, and also violates FEMA regulations".
🔎 Will OctaFX keep working in India? Yes, we will continue providing you with trading services in India. We have no plans to cease our service.
The bonus can be withdrawn only if by the moment of lots calculation the bonus is still present in the account. If a Client had traded the required volume, but the bonus has already been canceled, it would not be added or compensated.
1-3 hours to approve the withdrawal and up to 1 hour to transfer the funds.
If your bank account is linked to your forex trading account (and it likely will be), you can make a request for funds to be credited directly to your bank account. Whatever assets you trade in, whether stocks or commodities, your profits can be deposited in your bank account.
Make a deposit
Log in to your Personal Area to make a deposit without any commissions. At OctaFX, you can start trading with a minimum of $25.
MetaTrader 5: 14 days.
Press the Submit Request button. Wait for our email—we'll tell you when the verification is complete. This usually takes a few minutes but may sometimes take up to two hours.
Does OctaFX work in USA?
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How Do We Rate?
| ☑️ Regulations | CySEC (Cyprus), SVGFSA (Saint Vincent and the Grenadines) |
|---|---|
| 💰 Products (CFD) | Currencies, Commodities, Indices, Stocks, Crypto |
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OctaFX Account Types.
- Sign in to your Personal Area on OctaFX.
- Switch to the account you would like to withdraw the funds from.
- Click request withdrawal in the "Withdraw" section on the right.
- Enter the amount you would like to request.
- Click "Request" and "Confirm" buttons below.
Can We Withdraw Cash From a Forex Card? Yes, a foreign card allows you to withdraw cash from certain ATMs of any bank.
You can use a forex card just like a credit or debit card to pay for your expenses in a local currency abroad. You can withdraw local cash from an ATM. With a forex card in your wallet, you need not carry wads of cash on your sight-seeing trips in a new country.
