Deposit and Withdrawal Methods FXTM
Contents
OctaFX provides twenty-eight currency pairs, 3 cryptocurrency CFDs, and CFDs on 4 metals, 2 energies, ten of the most popular indices, adding to 47 instruments in total. It should be noted that traders in the U.S. are restricted from opening an account with OctaFX due to strict U.S. regulations enforced by the CFTC and NFA. OctaFX offers bank wires, credit/debit cards, and cryptocurrencies. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free OctaFX MT5 account. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
After all the user identity provided is authorized by the accounts unit, the user can start trading on the platform. With login access, guarantee limited orders, users can initiate their trading investments and exchanges to gain valuable returns.
OctaFX: Platforms & Tools đź–Ą
At the moment, we don’t allow withdrawal to virtual or app-based banks. For OctaFX users, they can start trading with a minimum of $25. The minimum deposits can vary depending on your region and the payment provider.
We genuinely hope that the issue has been resolved, and our reply gives you more clarity about our processing time. If you have other questions, please get in touch with our team at anytime. Once again, we regret that overall it took longer than you expected. However, please note that the processing time didn’t exceed 24 hours. Also, we wish to mention that we have to follow specific procedures when our traders attempt to withdraw funds quickly without trading sufficiently. Regularly we don’t charge any payment fees as we cover them themselves, but on such occasions, we reserve the right to pass these fees on to the traders.
This information will allow you to know if a broker can provide full support when you need it. OctaFX performs well in the category of fees, with tight spreads in CFDs on forex and commodities, no swap fees, no inactivity fees, and no deposit or withdrawal fees. Different regulators provide different levels of protection. For example, clients with a broker regulated by CySEC can benefit from a compensation fund in the event of broker insolvency. Offshore brokers usually offer higher leverage levels, but few account protections are typically guaranteed. We offer a wide variety of payment methods including credit and debit cards, e-Wallets, bank wire transfers and local payment solutions.
Despite some issues related to money withdrawal that users report, it is a continuous executing platform gaining its reputation in the business world. The transfers are all processed extremely fast so you can get up and trading in no time at all! Bitcoin and Mastercard are both completely commission free but Perfect Moneydoes charge a small 0.5% deposit fee, which really isn’t a lot. Almost 1.5 million traders around the world have chosen OctaFX as a reliable broker to work with. It is a Straight-through processing broker that provides the traders with platforms like MetaTrader 4, MetaTrader 5, and cTrader. The OctaFX Trading App enables you to trade foreign currencies, CFDs, and other assets on MetaTrader 4 and MetaTrader 5 platforms. Our online trading app enhances your CFD trading experience by providing financial flexibility as you trade your money online.
Can I withdraw from OctaFX without verification?
Please note that you can only withdraw funds if your account is verified.
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.
Strange withdrawal options
I contacted customer support and they said it’s probably my bank delaying payments. I guess it’s because yesterday Monday 5 April was the Easter holiday, and 3rd, 4th April were weekend so banks were closed. However, if I don’t get my money today or by tomorrow I will come and update my observations here. So my advice is don’t make withdrawal requests close to weekends cos they handle it very slowly. Thank you for taking the time to share your feedback and bring this question to our attention. We’re deeply saddened that you had trouble depositing your funds, and that affected your good experience with OctaFX. The rest of your funds were credited on May 5, and we hope that the issue was resolved simultaneously.
OctaFX makes use of segregated accounts to protect their clients’ funds coupled with negative balance protection. Another tip is making use of an e-wallet like Skrill or Neteller to make deposits and then withdrawals to your OctaFX account.
In addition, to make withdrawals from your OctaFX trading account, you must have undergone a verification process to certify that you are the owner of the account. The rules that apply to trading with OctaFX allow you to deposit into your trading account and make trades from that account without much rigorous verification process. Many other forex brokers don’t offer you the option to withdraw your funds via crypto. OctaFX is not regulated in South Africa but they still accept traders from South Africa and has 24 hours live chat and email support from Mondays to Sundays. OctaFX presents traders with a competitively priced, commission-free pricing environment.
limefx
Be aware leverage can amplify your losses or profits, be very careful to select the leverage that fits your trading appetite and risk tolerance. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. Guys please be careful with this broker and study all the rules they have which is unfair. The only reason i am with this broker is because of their withdrawal options which is much better for me as an indian.
As you haven’t contacted us since then, we can assume that you received your funds and the issue is resolved. Given all the information above, you’re likely now seeing that a forex broker bonus is actually a bit of a scam. Every broker that offers a forex bonus knows the above stats, and that most traders will never get to withdraw the bonus. Usually, forex broker bonuses are aimed at new traders, or traders with small amounts of capital typically depositing $5,000 or less, often $1,000 or less.
An added advantage is that cTrader is available for mobile trading apps as well. In addition, the brokerage businesses listed on OctaFX trading need to abide by a limited regulatory protection authorization mandate. Furthermore, users can profit from the OctaFX website as it provides Forex trading signals peculiarities for brokerage profits and the trading margin requirements for a broker.
Please remember that our team is always here to help, and we’ll be happy to hear from you whenever you need it. They are good but withdrawal options are not straightforward…
I have place withdrawal request of $690 on octafx on 6th Dec after passing of 3 days it’s still pending. Support agents just telling wait wait it’s still processing. We genuinely hope that our reply gives you more clarity about our payment processing workflow.
I lost my diposited money in octafx
And it’s probably best to trade with a regulated broker, in a major global financial center, that isn’t offering “free money” in the first place. Ultimately, forex broker bonuses equate to tripping over pennies while the focus should be on the much bigger money available from actual trading. Now if you open an account for $10,000 and get a $200 bonus it works a bit better (see How Much Money Do I Need to Trade Forex?). Because you have a lot more of your own capital, you can take larger positions, and still keep your risk per trade under 1%. You attain your bonus much quicker, likely within a matter of months. But most traders who are taking this bonus aren’t depositing $5,000 or $10,000, they’re depositing $100 to $1000.
What is the richest country in the world?
China had in 2020-21 surpassed the United States becoming the wealthiest nation in the world, according to a report released by McKinsey & Co. The report was published after examining the national balance sheets of ten countries having over 60% of the global income.
Founded in 2011, OctaFX is a multi-asset CFD broker headquartered in St. Vincent and the Grenadines. According to the company website, over 10 million trading accounts have been opened with OctaFX across more than 150 countries. You can withdraw as much as like, as you long as you use the same payment method that you used to deposit with. A quick note here – if you still have open positions, you’ll need to leave enough free margin in your account to cover the withdrawal and any extra fees that may occur. Please contact your dedicated Account Service Manager to inquire about the full details on using TC Payment as a way to transfer funds from your local bank account to your MyFXTM. With the security features of OctaFX, traders and retail traders can rest assured that their funds are well-protected.
FAQs on OctaFX deposit bonus
OctaFX developed a proprietary copy trading service, expanding into a sector that is gaining popularity, especially among younger traders. Its mobile trading and copy trading service apps remain highly popular, with over 10 million downloads. And today the support rep at octafx is saying i have to close my open position which is already in profit. Yes so octafx can get 1.5 pips spread benefit after i close and reopen that same position.
An 11-lesson course on forex basics is available in video format and makes a good primer for new traders. OctaFX also provides platform tutorials videos, which cover getting started with MetaTrader, using your personal account area, and how to copy trade. The education section on the OctaFX limefx website website is well thought out, clearly presented, and made for beginners, intermediate and experienced traders. Material includes live trading sessions, workshops, and trading strategy-themed presentations. In order to achieve your trading goals, you need to choose the right account.
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After checking your case with our team, we’ve found that a technical issue occurred at the time of processing indeed, which caused the overall delay. Unfortunately, it took a few days for investigation, but our team managed to complete the request by the end of last week. Also, one of our managers helped to handle your case personally.
