Octafx Review In Pakistan | Octafx Paying or Not In Pakistan 2021

 OctaFX is a well-established CFD and forex broker that has grown exponentially over the years.

Through a combination of low fees, advanced technology and effective customer support, OctaFX has been successful in expanding to over 100 countries. They opened 300,000 accounts and received b4 billion in daily volume.

Octafx Review In Pakistan

Although it's impressive, can you really trust them?

In this review of OctaFX, we will focus on the technology, fees, regulation and reputation of this broker. We will also give you some top tips to get the most out of your experience on our platforms.

Overview

OctaFX was founded in 2011 and is based in Saint Vincent and the Grenadines. 

He owns a subsidiary in Cyprus called Octa Markets Cyprus Limited. This is the company that holds its Sycus Regulatory License (more on this below).

They are one of the best STP (Straight Troch Processing) ECN brokers on the market. This means they will not operate the dealing desk and therefore may charge you a lower fee.

Furthermore, because they use STP technology, their implementation is well known in the industry and they have the lowest slip rate in the market. Brokers have a leverage of up to 500: 1 on some foreign currency pairs and they market a variety of assets.

Although they are a global broker that can accept clients from more than 100 countries, most of their traders come from Asia. There are also some jurisdictions where they cannot accept customers and these include USA etc.

Is OctaFX Safe?

You need to make sure that you are trading with a broker who has the proper protections in case of unforeseen circumstances.

So, how do you get OctaFX?

Control

As mentioned above, OctaFX has an affiliate unit in Cyprus. That is, they fall within the scope of this authority.

Since it is a European license, it means that they have permission to provide their services to customers in the European Union. This is because of the European "passport" laws that are part of the Mifid command. In particular, the licensee can operate in an area throughout the union.

Octafx Review In Pakistan

So what does this mean for you?

In order to obtain a CYSEC license, the broker has to undergo a number of tests and examinations to be successful. They are also supervising to maintain their compliance.

Background Inspection: When a broker applies for a CYSEC license, all the directors, including the company involved in the application, must undergo rigorous background checks.

Investor Compensation: Sysek states that all regulated entities should contribute to the General Investors Protection Fund. The fund protects all accounts above 20,000 under one broker.

Advertising Rules: There are several limitations to the way these companies advertise their services. This includes restrictions on bonuses, etc.

Capital Requirements: In addition to the costs involved in applying for a license, these brokers must meet certain minimum capital requirements. These can be seen as a broker buffer fund and fit

In addition to all of the above benefits that come from regulation, there is also the convenience that comes from knowing that you have someone. If you have ever complained about a broker, CySEC has a self-reporting portal.

Separate accounts

Another thing that OctaFX does in protecting customers is the use of different funds. It consists of funds in a bank account separate from the major broker's activities.

This means that brokers cannot use client funds for their own business. This means that the broker can easily fulfill client withdrawal requests, which can be set up without any liquidity crunch.

Assets and Leverage

OctaFX offers standard asset classes, including forex, commodities, equity and crypto. However, misrepresenting the assets within them reflects coverage rather than depreciation.

On the forex side, there are many smaller forex crosses that are not included. Most emerging market currencies are excluded. With regard to equity, they provide only indicators with a single stock and on the commodity side, they contain only gold and silver in micro accounts.

Furthermore, on the crypto side they have only three cryptocurrency pairs with Bitcoin (BTC), Litoin (LTC) and Ethereum (ETH).

However, in terms of property coverage what they don’t have is enough for leverage.

Octafx Review In Pakistan

Taking it in stride

Since OctaFX is a CFD broker, this means that you will trade with margin and leverage. Your profits and losses are multiplied by this leverage factor.

The profit you can make in each trade depends on the account you have created as well as the property you are trading. At OctaFX you have a maximum leverage of 1: 500, which can be obtained at 1: 200 for metals, as well as 1:50 for indices along with their currency pairs.

However, we are very disappointed with the leverage on cryptocurrency assets. OctaFX allows you to take advantage of 1: 2 of these pairs. If you are looking for a broker who has a higher limit on crypto, you can look at the IQ option.

Spreads and fees

When trading on a lender broker, one of the most important factors to consider is the spread of the property and other fees that apply.

In general, OctaFX has far less prevalence than competition. On his many major foreign exchange.