OctaFX and xCFD Right Forex Broker for You?

OctaFX was first registered in 2011 and is the brand name of Octa Markets Incorporated. Headquarters are in St Vincent and the Grenadines, and OctaFX acts in agreement with international regulations and legislation.

You will be happy to know that it is licensed and regulated to offer its financial services in many countries around the world.

OctafX may be a newbie in the field of Forex, but it has already received some important awards. The Global Banking and Finance Review, and the Forex Report Magazine have both awarded OctaFX a high level of recognition. In 2014, it was awarded Best ECN Broker in Asia, as well as the Best Broker Central Asia.

There are a number of different bonuses from OctaFX, as well as a variety of promotions, contests, and promotional programs.

OctaFX has an broad education center with a great FAQs page, along with manuals, a glossary, and some helpful Forex trading articles.

OctaFX Trading Platform

MT4, and the new cTrader, are the choices presented for a trading platform.

MetaTrader 4 (MT4) – This user-friendly platform has become a favorite for many traders and brokers. 

cTrader – This software solution is a relative new, but is already attracting a lot of interested traders.

Different Types of Trading Account

MetaTrader 4 Micro Account – The Micro Account requires a minimum deposit of only $5, which is good for any beginner, or for those with a very limited budget.

MetaTrader 4 ECN – This account requires a minimum deposit of $50. 

cTrader ECN – Things slightly change with a cTrader ECN Account as it is a no swap type of account. The minimum deposit is for only $5. Minimum trading volume is 1,000 of base currency, but the maximum is unlimited. Trading tools consist of 48 currency pairs, and gold and silver.

Payment  Methods

All the regular payment channels are supported by OctaFX, including bank wire transfers, Skrill, major debit and credit cards, along with UnionPay. Traders can deposits either in USD, or EUR, with the minimum deposit being only $5. Withdrawals have extra security protection, as an email is sent to authorize the request before the withdrawal can be made.

Now  that you have an idea  about OctaFX, feel free to visit their website for more information. Do your own research as well and read more reviews  before getting started.

xCFD Forex Broker

xCFD is a relative newcomer to the Forex world, but has nevertheless made quite an impact on the industry.

This Forex Broker is new but made an impact already in the forex industry. It was founded in 2013, with headquarters in New Zealand. However, it  is hard to tell if this Broker is regulated already. 

Some are saying that it is licensed and regulated by either the FSC, or as a financial services provider in New Zealand.

I have checked and  also found out via New Zealand Company’s office that it is currently removed from being registered, according to sources. But unable to find a reason behind the it. 

xCFD have nearly 700 trading instruments. In addition to forex,  there are stocks, commodities, bonds, and indices. Whether you are sitting at the comfort of your home in front of a PC, or on the move and using smartphones or tablets, you can do online trading.

They have different payment methods available. XCFD offers all the normal payment methods. Payments can be made using wire transfer, Skrill, credit and debit cards, and a number of other choices.

xCFD have excellent customer support. For any concerns, you can get in touch with the customer support via phone, 24 hours a day, 7 days a week. Customer support is also available in a number of different dialects. In addition, there is also an email option and the chance to take part in a live chat.

You can start for as low as $100. They are also giving a welcome bonus for beginners.  However, they don't offer a demo account to begin with.

So much for this today, there are still few Best Forex Brokers like MXTrade Trade12 Netotrade and xtrade, FBS and a few more that I am considering, but that will be in my next post. Feel free to share your choice of Best Forex Brokers in the comment below.