When you are trading in the field of forex, you can make use of different types of resources. One such portal that I have been using for too long now has to be Octa FX. When I was going through the details of Octa FX, I realized that the kind of scope which it offers is amazing to say the least.
Here, I will analyze the details of what this platform has to offer and whether or not it is apt for making the right kind of investment.
Use a Micro Account
I started with their micro account feature because it is apt for those who are just beginning in the field of trading. If you want to test your skills in the trading system, this is one of the best ways to start and try your luck and expertise.
If you are looking to know the benefits that having a micro account will have, here are the points you must be familiar with.
• You do not need to make a huge initial investment as the starting minimum deposit is merely $5.
• Even the floating spread that you get starts from 0.2 pips.
• The minimum volume that you will get when making an investment at the site is 0.01 lot.
• The leverage that you can get is up to 1: 500.
• You do not have to be bothered about the issues of requotes.
• You can also make use of expert advisors and scalping.
Now that you are aware of these key benefits, you can simply open your micro account and enjoy the accolades that it will bring. No doubt, you need to be a little careful because if you are reckless; you may end up losing your hard earned money.
Can You Have an ECN Account?
When I started trading for a long time and I had got considerable knowledge and information about it, I wanted to move to a better account and that is when I opted for an ECN account. I availed quite a great deal of features with this ECN account and it helped me execute the different market deals in less than a few seconds. The trading conditions that are offered by this ECN account are brilliant and once again, I will acquaint you with the main benefits that it will bring.
• You can execute the order is less than 0.1 second and this is why you will not have to waste your time as the speed of execution is extremely quick.
• Further, there are no issues of requotes.
• The execution order for this form of account is less than a second. 소액결제현금화
• The minimum deposit amount is slightly higher as it stands at 50 USD. If you are not willing to make a big startup investment, this point might be a little problematic because the startup investment is a little on the higher side.
• When you have an ECN account, you will be able to gain access to real interbank liquidity and you can indulge in forex trading and that too in real interbank field.
• You have 28 different currency pairs along with gold and silver which you can trade in.
• The stop out level is pretty good at 15%
• The margin call level which you can get is 25%
• You also have the option of 5 digit quotes.
So, if you are an advanced trader and you have been in the field of forex and brokerage for quite a long time now, the ECN account seems to be a much better choice for you.
The Commissions And Spreads
When you are choosing such a forex platform, you have to check out the commissions and spreads as well because they form a core part of how you are trading and the benefits that you are reaping from it. With Octa FX broker, you will get some of the best services and you are not going to have any kind of complains. The different spreads that Octa FX offers are floating and regardless of the type of trading account that you are using, they start from 0.2 pips.
Are The Services Reliable?
When you are choosing a forex based service, one of the important points that you need to determine has to be the reliability of the service. In order to offer reliable service, they have incorporated these features which I found to be really useful.
Segregate Your Accounts
As per the international rules and regulations, Octa FX makes it a point to keep the corporate fund and the trading fund of the client separate. This is a key feature that has huge significance.