As the Philippines continues to embrace the dynamic world of Forex trading, new players enter the scene, promising better trading conditions and cutting-edge technologies. In this article, we review OctaFX, an international Forex broker that has recently entered the Philippine market. We will delve into the features, offerings, and trading conditions of this Forex broker to provide Filipino investors with a comprehensive analysis.
What is OctaFX?
OctaFX (now known as Octa) is an international online Forex broker that has been facilitating entry to global financial markets since 2011. Its services are presently utilised in over 180 countries. To help its clients navigate the complex financial landscape, Octa provides free educational resources, including introductory articles on trading and comprehensive analytics on major financial instruments and markets. The broker also actively supports charitable efforts. Through sponsorships, Octa contributes to initiatives focused on enhancing educational infrastructure and fostering community support across the globe.
OctaFX trading overview
Octa provides MetaTrader 4 and MetaTrader 5 platforms for trading, as well as its own trading platform, OctaTrader. This platform aims to integrate expert analytics, deposits and withdrawals, and profile management options in one system. OctaTrader allows users to trade without any extra logins or app switches, helping them save time.
Octa offers three types of trading accounts: OctaTrader, MT4, and MT5. The first two, MT4 and OctaTrader, are suited for regular traders, featuring a user-friendly design and an essential set of instruments that are often chosen by beginners. The more advanced MT5 account provides a broader range of trading tools and supports higher trading volumes, making it the go-to option for experienced traders.
Octa has some of the lowest spreads in the industry for its trading instruments. All account types provide floating spreads that begin at 0.6 pips. Octa doesn’t charge swaps, which further reduces trading costs.
The broker features several leverage options for different trading instruments. For all currency pairs, excluding ZARJPY, the maximum leverage is 1:500. Other instruments can be traded using the following leverage options:
● 1:200 for metals
● 1:100 for energies
● 1:50 for indices
● 1:25 for cryptocurrencies
● 1:20 for stocks
● 1:200 for daily stocks.
Octa trading in the Philippines
Over 12 years, Octa has become one of the most popular investment choices for millions of clients from more than 180 countries. The broker has received dozens of industry awards, such as the recent ‘Best Forex Broker In Philippines 2023’ award from Global Business Review Magazine and the ‘Best Global Broker Asia 2022’ from International Business Magazine.
Octa offers a comprehensive educational experience with frequent webinars, tutorials, and articles on the fundamentals of Forex trading. Moreover, Filipino traders can read the broker’s blog full of articles featuring a more profound view of Forex trading.
Octa presents a range of bonuses and promotions to its clients, offering the chance to win premium prizes or get an exciting trading offer. The broker also has a loyalty program allowing traders to convert their accumulated traded lots into various gifts.
In December 2022, Octa entered the Philippine market with a major brand campaign called ‘Resolute Trading’, based on the similarities between New Year resolutions and financial markets trading. Traders were encouraged to set clear goals and boundaries, be consistent, and adhere to an efficient framework for achieving them—requiring much the same set of rules as the festive season’s resolutions.
Is Octa legal?
Octa is a legally established international company which has been serving millions of clients around the world for over 12 years. The broker possesses multiple internationally recognised licences, including licences issued by FSCA in South Africa, CySEC in Cyprus, and MISA in the Comoros.
