Business & Finance
Is OctaFX Legit?
OctaFX has made some tremendous efforts in terms of providing educational resources. Swinging between the inclusion of market research, trading signals, guides and news, and tutorials, the broker has gone all-in investing in educational tools for its clients. OctaFX also has a solid customer care support team, accessible round the clock on business days should clients face any trouble.
Stability and Ease-of-use of OctaFX
- OctaFX is a reliable platform that is a primary concern for forex traders, and OctaFX scores well in that.
- It offers multi-platform support, including desktop and web applications, support for iOs and Android users, and fast execution times, enabling you to use the platform confidently from almost any device.
- OctaFX features good integrations and an easy-to-read layout for all its trading platforms.
- The mobile apps run effortlessly, with charts and real-time prices visible and updated.
- It has received various prestigious awards for its reliability and customer service.
- Traders are assured that they are accessing optimal trading conditions with 97.5% of orders experiencing no slippage, less than 0.1 sec of execution, and no requites.
The platform is reliable and stable, with users reporting minimal to no connectivity and stability problems. Apart from the European CEO Magazine’s best mobile trading app of 2019, here are a few more awards:
- Best Broker (2019)- Global Banking And Finance Review
- Best FX Broker Asia 2021 (Global Banking & Finance)
- Best ECN Broker 2020
- Best ECN Broker 2021
- Most Transparent broker 2020 (forex-awards.com)
- Decade Of Excellence In Forex Asia 2021 (Global Banking And Finance Review)
OctaFX is stable and easy to use, considering all the platform’s essential features and functions running smoothly.
Is OctaFX legit?
OctaFX is a high-risk entity since it is not publicly traded or operated by a bank. Hence, it has an average trust score of 67 out of 99. OctaFX offers full Meta trading with relatively limited tradable instruments. There is no denying that OctaFX needs improvement in certain areas and research and education. This, along with the lack of reputable licenses, brings down the trust score to a greater extent. Though OctaFX has regulatory status in Cyprus, it still needs to become regulated in more jurisdictions to go high up in the trust-building process with the existing and potential customers. However, this does not mean OctaFX is not genuine. OctaFX is 100% Legit and not a scam!
Overall, OctaFX is an excellent trading platform with a variety of asset classes and trading instruments. IT has accessible starting deposits and is ideal for traders new to forex trading and who want to explore a stable yet reliable and affordable platform. Also, experienced investors with more defined strategies will appreciate the narrow spreads, absence of commissions, and an invitation for all trading strategies such as scalping, hedging, and automated trading.
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