As stated on their website, over 21 million trading accounts have been opened across 180 countries with OCTA. Again, in addition to copy trading, it offers a wide range of educational materials inclusive of videos and articles which are meant to help beginners find their feat. Yes, it offers a proprietary trading platform known as OctaTrader. The broker’s login process begins with a visit to the official site, Лайм ФХ.com, on desktop or a click of their app on mobile. To login in, your email, password and captcha verification is needed.
- To learn more, read our quick guide about how to trade on news.
- The global currency market is divided into four major trading sessions.
- Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.
- CTrader has a desktop version, and is also available in apps for android and iOS.
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We are constantly improving our product to make your trading experience better. Yes, Octa is regulated by FSCA, but they are not an approved ODP. Octa Group is regulated with 1 Tier-1 regulation CySEC (license number 372/18). Trader from SA are registered under Orinoco Capital (Pty) Ltd, which is registered in SA.
How to trade Forex currency pairs
The standards set by ESMA are quite high, not dissimilar to those set by the FCA in the UK and ASIC in Australia. The broker uses a no-dealing desk trading model, which means they send your trades directly to the liquidity providers, who will be the counterparts of your order. This trading model is called straight-through-processing (STP) or electronic communication networks (ECN) and is used by many brokers that don’t use a market maker execution model.
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The cTrader trading platform is designed specially for electronic communication networks ECNs, and offers direct STP access to currency trading markets. STP (Straight-through processing) is basically done through electronic transfers. With cTrader, users can trade directly with prominent banks globally. It has no restrictions on Stop/Limit levels and allows users to perform multiple functions like reverse, double or close all positions in one click.
You can also use the Octa Forex margin calculator to adjust your leverage.
It also maintains a Trade & Win promotion, where each lot counts as a prize lot, redeemable for prizes. Terms and conditions apply, and I recommend traders read and understand them before participating. Beginner traders get the most educational value from webinars, which Octa also publishes on its YouTube channel. I also recommend the 21 well-thought-through articles and its 11-video beginner’s course, which introduces new traders to financial markets.
By pressing ‘set up copying’, the orders of the Master Trader will be copied automatically. Traders have complete control over the process and can stop copying anytime. OCTA clients with an MT4 account can also elect to become Master Traders. They can then trade as usual and earn additional income whenever others choose to copy them.
All costs related to trading, such as spreads, commissions (if applicable), and swap fees, are clearly outlined. Traders should always review the terms and conditions to understand all applicable fees. Octa does offer a free demo trading account for beginners to practice limefx forex broker forex trading in a 100% risk-free environment. The Octa Demo account does not expire and is available without limit. Octa can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 300 trading instruments.
I like the cost savings at Octa for traders who keep leveraged positions open for multiple trading days. The cost savings for a 1 standard lot EUR/USD position can amount to $60+. Octa has recently improved its pricing environment, and I rank the overall trading costs among the best industry-wide, and there is no inactivity fee or currency conversion cost.
Copiers must fund their copy trading account before following Master Traders. They may opt for a direct deposit https://limefx.biz/ or transfer from their trading account. Octa displays a recommended amount to allocate to each Master Trader.
Compare the platforms’ features to find the one that is right for you. Minimum deposits at Octa will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which Octa entity you choose for establishing your trading account. We do not limit the array of assets available on demo accounts—trade anything you like and diversify your skills. The actual list of available trading instruments is specific to each trading platform.