| Min. Deposit | 100 USD |
| Regulator | Regulated by the authorities of St. Vincent and the Grenadines under the International Business Companies Amendment and Consolidation Act, chapter 149 of the revised laws of St. Vincent and the Grenadines, 2009, section 5[1]. |
| Trading Desk | ECN/DMA |
| Trading Cost | 11 USD |
| Website Language | English, Malay, Portuguese, Indonesian, Arabic, Thailand, Chinese, Vietnamese, Deutsch. |
| Support Language | English, Hindi, Bahasa Melayu, Bahasa Indonesia, Urdu |
| Malaysian Client Support | Yes |
| Malaysia Local Bank Deposit | Yes |
| Bonus | 50% Bonus Deposit |
Looking for a good Forex broker in Malaysia? You may have come across OctaFX and are wondering if they are the right choice for you. In this review, we will take a look at what OctaFX has to offer and see how they compare to other brokers in Malaysia. We will also discuss the pros and cons of using OctaFX so that you can make an informed decision about whether or not to open an account with them.
Pros
- OctaFX is a customer-oriented company
- The website includes many features and is fully responsive, so it can be used on desktops and mobile devices.
- It has an extensive range of trading tools to help traders explore the market and make profitable trades.
Cons
- Limited number of asset.
What is OctaFX
OctaFX is a global broker forex broker that has been providing online trading services since 2011. The company is based in Saint Vincent and the Grenadines and is owned by Octa Markets Incorporated. OctaFX is one of the leading forex brokers in the world, with a global client base of more than 200,000 traders. The broker offers a wide range of forex trading services, including ECN accounts, micro accounts, and demo accounts. OctaFX is regulated by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.
Malaysian celebrities tell OctaFX their honest stories of successful in the OctaFX new interviews show. The latest video from the OctaFX YouTube video series “The Honest Story of Success” has been released by YouTube hosted by Fizo Omar, Malaysian celebrities. The interviews showcase successful Malaysian personalities like businessman Datuk Aliff Syukri, comedian Harith Iskander, musician Altimet, and fashion entrepreneur Wak Doyok.
It was more than famous people telling the stories about life and financial success in their careers. Several Malaysian traders posted comments that reflected their experience. In an interview for the global trading platform OctaFX, celebrities from Malaysia reflect on the challenging ways in which they entered the world of wealth.
| Account Information | |
| Base Currencies | EUR, USD |
| Number of FX Pairs | 32 |
| Copy Trading | Yes |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Islamic Account | Yes |
| Trading Conditions | |
| Account Name | OctaFX MT4, OctaFX MT5 |
| Min. Spread | 0.0 pips |
| Commission | Fees Included in Spread |
| EUR/USD | 0.70 pips |
| GBP/USD | 1.50 pips |
| USD/JPY | 1.40 pips |
| Max. Leverage | 500:1 |
| Company Details | |
| Company Name | Octa Markets Inc |
| Founded | 2011 |
| Website | www.octafx.com |
| Office Locations | St. Vincent and the Grenadines |
| Support Email | support@octafx.com |
Is OctaFX Safe?
OctaFX is a fairly new broker, having been founded in 2011. However, in that short time, they have managed to build up a good reputation in the industry. Octa Markets Inc. OctaFX was registered in 2011 in St. Vincent and the Grenadines under license number 19776 IBC 2011.
The company’s legal and correspondence address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent, and the Grenadines.
OctaFX activity is supervised and regulated by the authorities of St. Vincent and the Grenadines under the International Business Companies Amendment and Consolidation Act, chapter 149 of the revised laws of St. Vincent and the Grenadines, 2009, section 5[1].
OctaFX acts in full compliance with international legislation and regulation standards. They strongly believe that honesty is the best policy. So, overall, OctaFX is a safe and user-friendly broker that Malaysian traders can use with confidence.
Trading Fees
OctaFX charges very low trading fees, which is one of the reasons why it is such a popular broker. There are no commissions charged on trades, and the spreads start at just 0.6 pips. This makes OctaFX an affordable option for trader of all levels.
The lack of commissions and low spreads are definitely two of the main attractions of OctaFX. However, it is worth noting that these low fees do come with a catch – the minimum trade size is 0.01 lots. This may be too high for some trader, but for those who are able to meet this requirement, the low fees make OctaFX an excellent choice.
Overall, OctaFX offers some of the best trading fees in the industry. Whether you are a beginner or experienced trader, you will find that OctaFX provides excellent value.
| Account Type | Min. Deposit (USD) | Average Spread (EUR/USD) | Commission (Round Turn) | Trading Cost (USD) |
| MT4 Account | 100 USD | 0.7 pips | None | 7 USD |
| MT5 Account | 100 USD | 0.7 pips | None | 7 USD |
Swap Fees
In MT4 account swap is charged for holding a position overnight. Swap is a payout applied to trades that are being rolled over into the next trading day (23:59-00:01, Server time).
This is the swap calculation formula:
pip price swap (short/long) volume / 10.
e.g.: GBPUSD 0.5 lots short (sell): 10 USD (pip price for 1 lot) -1.17 (swap value short) 0.5 lots / 10 = 0.585 USD.
Deposit and Withdrawal
When it comes to making deposits and withdrawals, OctaFX is one of the most user-friendly brokers out there. You can use a number of methods, including local bank transfers, credit cards, wire transfers, and e-wallets. The company also offers a wide range of currencies that you can use to fund your account. This makes it easy for clients to find a method that suits their needs.
One of the best things about OctaFX is that they offer a very low minimum deposit amount. In fact, you can start trading with as little as $50. This is great for those who are new to forex trading and want to test the waters before committing more money.
When it comes to withdrawing money, OctaFX makes it easy for investors to get their funds back. All you need to do is provide the necessary documentation and your withdrawal will be processed quickly.
Bonus and Promotions
OctaFX offers a 50% bonus on each deposit. They also offer a number of promotions, including the Champion MT4 Demo contest which is the next round starts on 14 March 2022.
Trading Platforms
OctaFX offers two types of most popular trading platforms which is MetaTrader 4 and MetaTrader 5. Both trading platform devolope from similar technologies. MetaTrader is software that traders can use to buy and sell currencies. It was developed by MetaQuotes Software. The platform allows users to trade in real-time, as well as to use Expert Advisors. Expert Advisors are programs that allow trades to be automated.
MetaTrader is available for Windows, Mac, and Android (app). It can be accessed through a web browser as well. The platform has a user-friendly interface and is suitable for both beginner and experienced traders.
Trading Tools
When it comes to trading tools, OctaFX offers a lot for its clients. There are several analytical tools available on the OctaFX website. These include an economic calendar, market news, Autochartist, live quotes, and technical analysis. This allows traders to make well-informed trading decisions. Overall, OctaFX provides traders with a wealth of trading tools and resources, which makes it a good choice for forex traders.
Financial Instruments
OctaFX offers a wide range of financial instruments to choose from, which include Forex, IndicesCFDs, and Commodities. This allows traders to diversify their trading portfolios and increase their chances of making profits.
| Financial Instrument | Number of Assets | Max. Leverage |
| Forex | 32 | 1:500 |
| Index CFDs | 10 | 1:50 |
| Commodities | 5 | 1:50 |
| Cryptocurrencies | 5 | 1:25 |
| Metals | 2 | 1:50 |
Education & Research
OctaFX offers a comprehensive education and research program to its clients. The program includes a range of tutorials, webinars, and eBooks that cover the basics of Forex trading as well as more advanced topics. In addition, OctaFX provides an extensive research library that includes market analysis, economic news, and trading strategies.
Customer Service
OctaFX provides excellent customer service. The company’s customer support team is available 24/7 and can be contacted via email, phone, or live chat. The team is knowledgeable and helpful and always goes out of its way to resolve any issue promptly.
Safety & Security
OctaFX takes safety and security very seriously. The company is fully compliant with international financial regulations, and all client funds are segregated and held in Tier-one banks. In addition, OctaFX employs the latest SSL encryption technology to protect all client information.
OctaFX Trading Accounts
OctaFX offers two types of trading accounts: the OctaFX MT5 account and the OctaFX MT4 account. The OctaFX MT5 account is a newer account that allows you to trade with MetaTrader 5, while the OctaFX MT4 account is an older account that lets you trade with MetaTrader 4.
Both trading accounts offer you access to trading 35 currency pairs, gold and silver, 3 energies, 10 indices, and 5 cryptocurrencies. You can also trade using a range of analytical tools, including indicators, oscillators, trend lines, and Fibonacci tools.
OctaFX MT5
This OctaFX M5 is recommended for smart traders.
- Spread: Floating, starting at 0.6 pips
- Commission/Spread Markup: No сommission, Markup
- Recommended Deposit: 100 USD
- Instruments: 35 currency pairs + gold and silver
- + 3 energies + 10 indices + 5 cryptocurrencies
- Leverage:1:500 for currencies, (1:100 for ZARJPY), 1:200 for metals, 1:100 for energies, 1:50 for indices, 1:25 for cryptocurrencies
- Minimum Volume: 0.01 Lot
- Maximum Volume: 500 Lots
- Execution: Market execution in under 0.1 second
- Precision: 5 Digits
- Deposit Currencies: USD or EUR
- Margin Call/Stop Out Level:
- Hedging: 25% / 15%
- Scalping: Yes
- Expert Advisors: Yes
- Swap: No Swap
- CFD Trading: Yes
- Cryptocurrency Trading: Yes
OctaFX MT4
This OctaFX M5 is recommended for habitual traders.
- Spread: Floating, starting at 0.6 pips
- Commission/Spread Markup: No сommission, Markup
- Recommended Deposit: 100 USD
- Instruments: 35 currency pairs + gold and silver
- + 3 energies + 4 indices + 5 cryptocurrencies
- Leverage: 1:500 for currencies, (1:100 for ZARJPY), 1:200 for metals, 1:100 for energies, 1:50 for indices, 1:25 for cryptocurrencies
- Minimum Volume: 0.01 Lot
- Maximum Volume: 200 Lots
- Execution: Market execution in under 0.1 second
- Precision: 5 Digits
- Deposit Currencies: USD or EUR
- Margin Call/Stop Out Level:
- Hedging: 25% / 15%
- Scalping: Yes
- Expert Advisors: Yes
- Swap: No Swap
- CFD Trading: Yes
- Cryptocurrency Trading: Yes
Islamic Account
OctaFX offers Islamic accounts, which are Sharia-compliant and based on the principles of risk and profit-sharing. This means that all profits and losses are shared between the broker and the trader. Islamic accounts offer the same features as regular accounts, but they do not charge interest or incur any fees for overnight positions.
How to get started with OctaFX?
To get started with OctaFX, you will need to open an account and deposit some money. Once your account is set up, you can begin trading. Be sure to familiarize yourself with the trading platform and the features it offers so that you can trade effectively.
How to open a trading account with OctaFX
You can open a trading account with OctaFX by going to their website and following the instructions. You will need to provide some personal data information, like your name, country, and contact information, and then you will need to choose a username and password. You will also need to choose a currency for your account.
Once you have opened your account, you will need to fund it in order to start trading. You can do this by transferring money from your bank account or by using a credit card.
To open your account, click the red button below. Then, click “Open an Account”.
=>Next, fill in your personal information.
=>Then you will have to set up a security question and answer.
=>After that, you are ready to deposit money! You can do this by clicking on the “Deposit” tab and selecting your payment method. Please be informed that the initial investment in OctaFX is 100 USD.
Why Malaysian traders should consider using OctaFX.
So, why should Malaysian traders (clients) consider using OctaFX? There are many reasons, but some of the standout benefits include the regulated broker, excellent customer support, and a wide range of instruments available. The trading conditions are also very competitive, making OctaFX a great choice for traders in Malaysia.
What is the advantage and disadvantage of OctaFX?
Advantages
- OctaFX is a regulated broker, meaning traders can be confident their capital is safe and secure.
- The trading conditions offered by OctaFX are among the best in the industry, with low spreads and no commissions.
- The trading platforms offered by OctaFX are user-friendly and packed with features.
- OctaFX has won more than 45 forex awards since its foundation, including the ‘Best ECN Broker 2021’ award from World Finance and the ‘Best Forex Broker Asia 2021’ award from Global Banking & Finance Review.
- Wide range of research and education resources from forex basics to advance.
Disadvantage
- A limited number of currency pairs
Conclusion
We hope you have found this OctaFX Malaysia review helpful. Overall, we believe that OctaFX is a good forex broker and would recommend them to our readers. They offer a wide range of products and services, along with a user-friendly platform that makes trading easy. Their customer service is also excellent, providing prompt and friendly support. Additionally, their low spreads and commissions make them a competitive option in the forex market. Thank you for reading!