Im not buying 0.00 Lot, I am Buying 0.10 lot with $17 when I took the profit, now its zero. what is happening[3f] is this some kind of error or what[3f] my 0.10 Lots became 0.00 lot.
I opened this wallet app and the minimum withdraw is #500 but on getting to my withdrawal,it was saying insufficient balance when I want to withdraw #10,000 while having #12,000 in the acct
My account number is 18421316.0I think octa fx is a fake company because when I was trading two weeks ago on octa fx, I was going to lose my trade. For that, I decided to deposite Rs 1500, but it did not come into my octa fx trading account except it is from my bank account. Waited for sometime nothing happened so I again I deposited Rs 1500 because I don't want to loose my money, there is no chance for loss if I have more dollors in my account but same thing happened again, that amount also did
|Founded Year||2-5 years|
|Company Name||PT. Octa Investama Berjangka (OCTA)|
|Regulation||Suspicious Regulatory License|
|Spreads||Floating spreads, specific values not provided|
|Trading Platforms||MT4/5 White Label|
|Tradable Assets||Currency pairs (27), CFDs on indices, commodities, cryptos|
|Account Types||Micro Account (MT4), Pro Account (MT5), ECN Account (cTrader)|
|Customer Support||Live chat, email, contact number|
|Payment Methods||Bitcoin, Credit Card, Skrill, Neteller, bank transfer, wire transfers, and more|
|Educational Tools||Profit Calculator, Economic Calendar, Trading Terms Glossary, Webinars, Market Insights|
OCTA is a financial broker based in Indonesia that offers trading services in various financial instruments. However, it is important to note that OCTA is currently not regulated, which raises concerns about its credibility and reliability. Regulatory oversight is crucial for the protection of traders and investors, as regulated brokers adhere to strict standards and rules designed to safeguard clients' interests.
Despite the lack of regulation, OCTA provides access to a diverse range of financial instruments, including 27 currency pairs, CFDs on prominent indices, commodities like gold and silver, and popular cryptocurrencies. The broker supports trading on the MetaTrader 4 and MetaTrader 5 platforms, which are widely recognized and used in the industry.
While OCTA offers certain advantages such as portfolio diversification and access to volatile currency pairs, it is important to be aware of the risks involved. Trading with an unregulated broker exposes traders to potential scams, fraudulent activities, and financial loss. Traders should carefully consider these risks and make informed decisions before engaging in trading activities with OCTA or any unregulated broker.
OCTA is a broker that raises concerns about its credibility and reliability due to its lack of regulation. The absence of valid regulation indicates potential risks, including scams, fraudulent activities, and financial loss. Despite this, OCTA provides access to a diverse range of financial instruments, allowing for portfolio diversification and trading opportunities in volatile currency pairs, commodities, and cryptocurrencies. However, it's important to note that trading CFDs carries a high level of risk, and the cryptocurrency market is highly volatile, requiring careful analysis. The broker offers different account types to cater to traders' needs, but there are limitations such as higher minimum deposit requirements and limited regulatory protection authorization. OCTA provides multiple trading platforms, including MetaTrader 4 and MetaTrader 5, with user-friendly interfaces and comprehensive features. It also offers various trading and educational tools, such as a profit calculator, economic calendar, and webinars, to assist traders. Customer support is available through live chat, email, and phone. Overall, while OCTA offers opportunities, potential clients should be cautious due to the lack of regulation and associated risks.
|None||High leverage offered can amplify potential profits or losses|
|Trading CFDs carries a high level of risk|
|A significant percentage of retail investors lose money when trading CFDs|
|Cryptocurrency market is highly volatile and requires careful analysis|
|Higher minimum deposit requirement|
|Limited regulatory protection authorization (Suspicious clone)|
|Compensation dependent on market news changes|
OCTA is currently not regulated. This means that it operates without a valid regulatory oversight or license. The lack of regulation raises concerns about the credibility and reliability of the broker.
It is important to note that a broker's regulation serves as a form of protection for traders and investors. Regulated brokers are typically subject to strict financial and operational standards, ensuring transparency and accountability in their business practices. They are also required to adhere to specific rules and regulations designed to safeguard the interests of their clients.
In the case of OCTA, the absence of valid regulation poses significant risks for potential clients. It indicates that the broker may not be following the necessary guidelines and safeguards, potentially exposing traders to various risks, including scams, fraudulent activities, and financial loss.
Currency Pair Trading:
OCTA provides investors with the opportunity to trade 27 currency pairs. These pairs include major, minor, and exotic currencies. Users can benefit from the volatility in these currency pairs, with the highest leverage offered at 1:500. This allows traders to amplify their potential profits or losses.
OCTA offers Contracts for Difference (CFDs) trading on ten prominent indices. These indices include NASDAQ, Dow Jones, and Euro Stoxx 50, among others. The CFDs are issued by reputable stock market companies, and they can be traded on the MetaTrader 4 and MetaTrader 5 platforms. It's important to note that trading CFDs carries a high level of risk, with a significant percentage of retail investors losing money due to poor decision-making.
Investors using OCTA have the opportunity to invest in commodities such as gold, silver, crude oil, and natural gas. The leverage for trading gold and silver is set at 1:200, while for other commodities, it is at 1:50. Trading commodities can provide diversification to an investment portfolio, but it's crucial to carefully analyze market trends and make informed decisions.
OCTA supports trading in popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. These cryptocurrencies can be traded on both the MetaTrader 4 and MetaTrader 5 platforms, including the mobile app versions. It's important to note that the cryptocurrency market can be highly volatile, and investors should exercise caution and stay updated with market trends.
OctaFX offers three different account types to cater to the diverse needs of traders. These account types include the Micro Account (MT4), the Pro Account (MT5), and the ECN Account (cTrader). Each account type is designed to provide specific benefits and features to traders based on their experience level and trading preferences.
Micro Account (MT4):
The Micro Account, also known as the MT4 account, is designed for novice investors. It allows traders to start with small funds, making it ideal for beginners. The account offers fixed spreads starting from 0.4 pips. There are no fees imposed on users, and the minimum deposit requirement is $100. The leverage for fiscal currency is 1:500, 1:200 for metals, 1:2 for cryptocurrencies, and 1:50 for indices. The account provides access to 28 currency pairs, gold and silver assets, three cryptocurrencies, and four indices.
Pro Account (MT5):
The Pro Account, also known as the MT5 account, caters to experienced traders. It offers the lowest trading spreads, making it suitable for high-level investors. Similar to the Micro Account, there are no fees charged, and the minimum deposit is $500. The leverage for fiscal currency is 1:200, 1:100 for metals, 1:2 for cryptocurrencies, and 1:50 for indices. The account provides access to 28 currency pairs, four metals, three cryptocurrencies, and ten indices.
ECN Account (cTrader):
The ECN Account, known as the cTrader account, is aimed at progressive investors who require enhanced precision in their trading valuations. It offers no fees for users and a minimum deposit requirement of $100. The leverage for fiscal currency is 1:500, 1:200 for metals. Traders can access 28 currency pairs and trade metals like gold and silver from the OctaFX trading platform. The compensation for a cTrader account is dependent on market news changes, and users should be aware of the limited regulatory protection authorization mandate.
To open an account with OCTA, follow these steps:
Register your name and email: Visit the OCTA website and click on the “Open Account” button located at the top of the page. Fill in your full name, email address, and create a new password. Alternatively, you can sign up using your social media accounts like Facebook, Google, or Apple ID.
2. Provide your details: After registration, you will receive an email with a verification link. Click on the link to be redirected to the OCTA website and continue the registration process. Here, you will be asked to provide details such as your date of birth, country of residence, complete address, and contact number. Accuracy is important as you may need to provide supporting documents for verification.
3. Choose your platform: OCTA offers two types of accounts with different trading platforms and access to financial instruments. The MT4 account is recommended for new traders, while the MT5 account provides access to a wider range of products. Select the currency of your account (USD or EUR) and choose a leverage level that you are comfortable with. You can also select the type of account, either a demo account for practice or a real trading account.
4. Verify your details: Once your account is created, log in to your personal area and verify your information. You will need to provide a copy of an ID proof document such as a passport, ID card, or driving license. Additional documents like a residence permit may be required in some cases. This verification process ensures the security of the platform and compliance with financial regulations. The verification typically takes a few minutes to 24 hours.
5. Deposit and trade: After your account is verified, you will be notified and can proceed with depositing funds. Access the deposit option in the toolbar and choose your preferred payment method. Deposits are usually instant, except for cryptocurrency deposits that may take up to 30 minutes. Once your funds are deposited, you can start trading by selecting financial instruments and placing buy/sell market or limit orders based on your predictions.
Leverage is a financial tool offered by OCTA, allowing traders to amplify their trading positions by borrowing funds from the broker. OCTA provides a maximum leverage of 500:1, which means that for every unit of capital a trader has, they can control up to 500 units of trading volume.
OCTA offers floating spreads that are dependent on market volatility. The specific spreads vary for different currency pairs. For example, the minimal spread for EURUSD is 0.6 pips, GBPUSD starts from 0.8 pips, USDJPY from 0.8 pips, AUDUSD from 0.9 pips, and USDCAD from 0.7 pips. It's important to note that these spreads are subject to change based on market conditions.
In terms of commissions, OCTA charges a fee when closing each order. The commission is deducted from the clients' equity and is calculated proportionally to the order volume. The commission rate is set at 5 USD per lot. This means that the more lots traded, the higher the commission amount will be.
MetaTrader 4 (MT4) is a widely recognized and widely used trading platform offered by OctaFX. It is renowned for its user-friendly interface and comprehensive features. Traders can download the MT4 software or access it as a Webtrader directly from the OctaFX website. Furthermore, MT4 is compatible with various devices, including PCs, Android, and iOS, allowing traders to access their accounts and execute trades on the go.
OctaFX also provides MetaTrader 5 (MT5), an advanced trading platform with enhanced features compared to MT4. MT5 offers a broader range of trading instruments and additional technical indicators, making it suitable for more experienced traders. Similar to MT4, MT5 can be downloaded as software or accessed through the web version. It is also available for PCs, Android, and iOS devices.
|User-friendly interface||Limited trading platform options (only MT4 and MT5)|
|Comprehensive features and tools||Steeper learning curve for MT5|
|Availability of both software and web-based versions||Potential technical issues with software installations|
|Cross-device compatibility (PC, Android, iOS)||Limited customization options|
|Accessible trading on the go|
Profit Calculator: OCTA offers a profit calculator that allows traders to accurately calculate their returns after considering spreads or other fees. This tool helps traders evaluate their potential profits and make informed trading decisions.
Economic Calendar: OCTA provides an economic calendar that displays important economic events, news releases, and announcements that can impact the financial markets. Traders can stay updated with these events and plan their trading strategies accordingly.
Trading Terms Glossary: OCTA offers a comprehensive trading terms glossary that explains various trading concepts, terminologies, and jargon. This resource is useful for both new traders who are unfamiliar with trading terms and experienced traders who want to refresh their knowledge.
Webinars: OCTA conducts live webinars hosted by Forex instructors. These webinars cover a range of topics, from basic trading principles to advanced trading techniques and analysis. The webinars are scheduled at specific dates and times, catering to traders of all levels of experience. Additionally, OCTA provides educational articles for those who prefer reading over attending webinars.
Market Insights: OCTA provides market insights, including ECN exchange practices, risk management strategies, and advice for maximizing returns on investments.
The trading hours of OCTA, using the MetaTrader 4 platform, are open for trading 24 hours a day from Monday to Friday. The trading week begins at 12:00 a.m. on Monday and concludes at 11:59 p.m. on Friday, following the Eastern European Time (EET) or Eastern Standard Time (EST) depending on the region.
When it comes to depositing and withdrawing funds with OCTA, clients can make multiple deposits and withdrawals. However, there are certain limits in place for each transaction. The maximum limits for both deposits and withdrawals are set at 100,000 USD. On the other hand, the minimum deposit limit is 100 USD, while the minimum withdrawal limit is 5 USD. Importantly, OCTA does not charge any commissions for depositing or withdrawing funds.
OCTA offers a variety of payment methods for clients to deposit funds and take advantage of funding opportunities. These payment options include Bitcoin, Credit Card, Skrill Neteller, bank transfer, and wire transfers. In fact, OCTA provides more than 50 different payment methods, although the availability of these methods may vary depending on your country of residence. It's worth noting that deposits made through local bank accounts may take a few days to clear, while credit/debit card, bank transfer, Skrill Neteller, and e-wallet deposits are processed instantly.
One notable feature offered by OCTA is the deposit bonus provided when clients make deposits into their live accounts. These bonuses are designed to give traders additional power and resources to make trades effectively. Furthermore, OCTA allows clients to open trading accounts in both USD and EUR currencies.
|Deposit bonuses offered to provide extra trading power||Certain limits apply to each transaction|
|No commissions charged for deposits or withdrawals||Deposits made through local bank accounts may have a delay in clearing|
|Wide range of payment methods available|
|Instant processing for credit/debit card, bank transfer, Skrill Neteller, and e-wallet deposits|
In conclusion, OCTA presents both advantages and disadvantages as a trading broker. On the positive side, OCTA offers a diverse range of financial instruments, including currency pairs, CFDs, commodities, and cryptocurrencies, allowing for portfolio diversification and potential profit opportunities. The availability of multiple trading platforms such as MetaTrader 4 and MetaTrader 5, along with cross-device compatibility, provides convenient access to the markets. Additionally, OCTA provides educational resources, including webinars and market insights, to support traders in making informed decisions. However, OCTA's lack of regulation raises concerns about its credibility and reliability. The absence of valid regulatory oversight poses risks for potential clients, potentially exposing them to scams, fraudulent activities, and financial loss. It's important for traders to carefully consider these pros and cons before engaging with OCTA.
Q: Is OCTA regulated？
A: OCTA is currently not regulated. This raises concerns about the credibility and reliability of the broker.
Q: What are the risks of trading with OCTA？
A: Trading with OCTA carries high potential risks due to its lack of regulation. There is a possibility of scams, fraudulent activities, and financial loss.
Q: What financial instruments can I trade with OCTA？
A: OCTA offers trading in currency pairs, CFDs on indices, commodities such as gold and silver, and cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash.
Q: What are the account types offered by OCTA？
A: OCTA offers three different account types: Micro Account (MT4) for novice investors, Pro Account (MT5) for experienced traders, and ECN Account (cTrader) for progressive investors.
Q: How can I open an account with OCTA？
A: To open an account with OCTA, visit their website, register your name and email, provide your details, choose your platform and leverage, verify your information, and then deposit funds to start trading.
Q: What is the leverage offered by OCTA？
A: OCTA provides a maximum leverage of 500:1, allowing traders to control up to 500 units of trading volume for every unit of capital.
Q: What are the spreads and commissions at OCTA？
A: OCTA offers floating spreads that vary for different currency pairs. The commissions are charged when closing each order, with a rate of $5 USD per lot.
Q: How can I deposit and withdraw funds with OCTA？
A: OCTA provides various payment methods, including Bitcoin, Credit Card, Skrill Neteller, bank transfer, and wire transfers. Deposits are usually instant, while withdrawals have a minimum limit of $5 USD and a maximum limit of $100,000 USD.
Q: What trading platforms does OCTA offer？
A: OCTA offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are widely recognized and user-friendly.
Q: What educational tools are available at OCTA？
A: OCTA provides a profit calculator, an economic calendar, a trading terms glossary, live webinars, and market insights to assist traders in their trading activities.
Q: What are the trading hours at OCTA？
A: OCTA's trading hours using the MetaTrader 4 platform are 24 hours a day, Monday to Friday, following the Eastern European Time (EET) or Eastern Standard Time (EST) depending on the region.
Q: How can I contact OCTA's customer support？
A: OCTA's customer support can be contacted through live chat, email (email@example.com and firstname.lastname@example.org), and phone (+622150996550).