OctaFX Malaysia Review
Updated November 24, 2022
OctaFX Malaysia was founded in 2011 to provide Forex traders with a great platform where they can trade scores of tradable instruments. Headquartered in the Grenadines and Saint Vincent, it has a support office in Indonesia.
OctaFX boasts some 1.5 million trading accounts and an impressive list of awards as proof of its wide reach and global acceptance. Read our review and learn more about the OctaFX copy trading and more!
OctaFX Malaysia Features
Here are some of the outstanding features of the leading Forex broker in Malaysia:
OctaFX Malaysia supports cryptocurrency trading and offers Bitcoin and a host of others such as Ethereum and Litecoin. That’s besides accepting payment in digital currencies.
- Abundant market resources
The broker provides an impressive collection of market resources with charting tools, trading signals, and regularly-updated webinars and investment articles.
- Competitive spreads
Precious metals, cryptocurrencies, and CFDs are available to trade at highly competitive spreads, affordable cost per trade, one of the lowest in the industry.
Some of the reasons why an increasing number of Forex traders and experts consider OctaFX a great place for a newbie trader are:
- cTrader and MetaTrader platforms are available.
- Commission-free trading.
- It offers contests (non-EU) and bonuses.
- It is regulated by the EU.
- OctaFX is a reliable and innovative broker.
- It supports trading on industry-leading platforms.
- Users can look forward to the best customer support and personal service.
- Daily market analysis is guaranteed.
- OctaFX offers the lowest spreads in the Forex industry.
- Each deposit attracts a 50% bonus.
- Free and easily accessible educational materials.
Its plethora of benefits notwithstanding, some areas where the broker can do better are:
- It is not regulated by the FCA.
- It doesn’t offer zero pip spreads.
- The funding methods are limited.
- A limited number of tradable instruments.
OctaFX Account Types
OctaFX Malaysia runs multiple accounts to give its clients a choice. Its common account types are:
An Islamic Account is a special account type for Muslims who are interested in online forex trading without compromising their faith and in strict conformity with their respected Sharia law.
This account type doesn’t charge a rollover or swap interest on any position held by a trader in the Forex market overnight. However, open positions will attract an administration fee
This trading platform is recommended for habitual or new traders because it offers them an easy start in the Forex trading market.
The spread starts at 0.6 pips without a commission or markup. Traders who meet the recommended $100 minimum deposit amount will have access to over 35 currency pairs and commodities such as gold and silver.
They can also choose from the 3 energies, 5 cryptocurrencies, and 4 indices available for trading on the platform. That’s in addition to the impressive leverages for the available tradable instruments.
For metals, the leverage is 1: 200, 1:50 for indices, 1:100 for energies, 1:25 for cryptocurrencies, and 1:500 for currencies, although the value is 1:100 for ZAR/JPY.
The maximum volume is 200 lots and a fast market execution below 0.1 second is guaranteed with 5-digit precision.
Unlike the predecessor designed for newbies in the business, the MT5 trading platform is suitable for smart traders.
It also has a floating spread starting at 0.6 pips and doesn’t attract a commission or markup. With a minimum deposit of $100, you can trade on this platform.
The platform shares the same leverages with the MT4 platform. The only difference is the minimum value of 500 lots unlike the latter with a lower minimum value of 200 lots.
The Forex trading industry isn’t risk-free. That’s why prospective traders must understand the market, including its rewards and challenges, before investing in it. Before you start trading with your money, learn about the market through the free Demo Account.
Although it shares some similarities with the Real Account, a Demo Account allows you to trade with simulated funds while learning about the market. Hence, it’s risk-free and it’s a great opportunity to practice Forex trading without entertaining the fear of losing our investment.
You can also seize the opportunity to test your Forex strategies and participate in demo contests where you stand a good chance of winning real money. It’s also a good place to learn how to use graphic objects, read charts, and experiment with an array of order types.
Investment Offerings at OctaFX Malaysia
OctaFX Malaysia supports an array of tradable instruments for trading. Traders on the platform can trade any of the following:
OctaFX helps trades “profit from price movements on 10 indices without having to own any stocks.” Hence, traders are not stuck with traditional individual stocks but can choose the stock market indices option with its rapid execution.
Some other reasons why indices trading is a smart move include bigger profits, secure market conditions, better leverages, better margins, and more.
You can invest in the Forex industry by trading any of the 28 currency pairs on the OctaFX platform such as EUR/USD, USD/JPY, GBP/USD, and AUD/USD.
Some of the reasons why the broker is considered a leading name in the industry include zero hidden commission, availability of auto training, negative balance protection, and multiple account types for different classes of traders.
The broker also offers the lowest spreads and the easiest market to enter with as low as $25. That’s in addition to its trade volume that is considered the largest in the business and an amazing 1:500 leverage ratio through which the broker boosts currency trading.
The broker allows cryptocurrency trading on its MetaTrader 4 and MetaTrader 5 platforms. Traders on the platform can trade Bitcoin and a couple of other altcoins such as Litecoin, Ethereum, Bitcoin Cash, and Ripple.
Cryptocurrency trading is a good offer considering that digital currencies have been trending for a while and promise an impressive Return on Investment (ROI). For instance, in 2020 alone, the foremost cryptocurrency, Bitcoin, appreciated by a whopping 836%.
More so, while most exchanges require that each trader has an eWallet, OctaFX doesn’t require such. That’s beside the better exchange rate that its users can enjoy on the platform.
The broker’s registered users can also benefit immensely from trading several tradable physical assets commonly known as commodities.
Examples of commodities include precious metals such as silver, copper, platinum, and gold. Other non-metal commodities are natural gas, crude oil, and a host of other resources.
CFD trading is an investment opportunity that involves speculating the prices of some commodities for a chance to make profits from the speculations. Hence, you are not mandated to purchase the commodity outright before making money from investing in it.
OctaFX allows its users to trade the following CFDs:
- London Stock Exchange.
- Standard & Poor’s.
These are a couple of the golden trading opportunities available for interested investors on the OctaFX broker. By combining the CFDs with a host of other instruments on the broker platform, you stand a good chance of making profitable investment decisions.
Trading CFDs on OctaFX offers you the following benefits: up to 1:200, MT4/MT5 platform, no commissions, bigger investment profit, and no swaps.
OctaFX’s users have the luxury of choosing from the plethora of trading platforms on offer. Here are these platforms and their features:
- MetaTrader 4 (MT4)
The MT4 platform is one of the most popular in the Forex trading industry, thanks to its flexibility and ease of use.
The platform allows each user to develop a technical indicator for personal use or choose from the 30 in-built technical indicators on the platform. That’s besides expert advisors that are best suitable for their trading style. Its advanced charting tools come in handy for users to analyze market trends and price fluctuations by using 3 graph and customizable charts.
- MetaTrader WebTrader
OctaFX also created a MetaTrader WebTrader terminal version of its MT4 and MT5 platform for Mac PC users. Such traders can have direct access to the market from a browser.
The web platforms aren’t inferior to the desktop versions but share the same features such as market indicators, charting tools, scripts advisors, various execution modes, and expert advisors.
- MetaTrader 5
The MT5 platform is an upgrade on the MT4. It offers all the benefits offered by its predecessor and more: additional accuracy, speed, and more.
Some of its advanced features include 44 analytical objects, 8 pending orders types, and unique technical indicators such as Bill Williams’ tools and Trend Oscillators. These are in addition to two accounting modes that offer better hedging, flexibility, and netting. Its economic calendar will also keep you abreast of economic development in the market.
This platform is specifically designed for CFD and Forex trading. The robust system offers some 50 chart templates for users to customize their trading interface and 26 in-built chart views. In addition, its 28 chart timeframes and 70 technical indicators are added benefits for a better trading experience.
The cTrader account supports only two metals and 28 forex pairs and a spread of 1.0.
The system is available for download on the broker’s website after completing the registration process. Once you have access to the platform, explore its potentials and have a rewarding trading time.
OctaFX Trading App
OctaFX Malaysia makes trading a lot easier for its users on mobile devices by creating mobile app versions of their major platforms such as MT4, MT5, and cTrader. These are available on Android and iPhone devices.
The multi-language apps support Chinese, Bengali, Hindi, and Malay. It also supports Chinese, Portuguese, Thai, and Spanish. They feature some of the features of their desktop applications like margin, full balance, set of orders in the MetaTrader platform, a customizable mobile interface, and custom mobile price alerts, accurate and clean trading functions.
Users can create trading accounts via the app or edit and restore their passwords. They can also modify their leverages, enable swap-free options, .make deposits into their accounts or withdraw their earnings by choosing from the most popular and credible payment options supported by the broker.
More so, users can have easy access to their account operation history or view their account details effortlessly. If you desire, you can cancel your previous deposit through the app. More info on Twitter.
If you are interested in contests, view their statistics via the app or go through your contest accounts. If you have completed or active bonuses, the app is another means through which you can view their statistics or activate them.