Trading with OctaFX allows you to choose between hundreds of trading instruments that you can buy and sell using specialized software. The brokerage firm offers two platforms — Metatrader 4 and Metatrader 5 that you can enjoy placing orders. The experts from Traders Union have done deep research to provide you with information about the minimum deposit of the OctaFX Forex broker and other important features.
OctaFX: What is the Amount You Can Start with
To start using the broker’s services, you need to have at least $100 on your trading account. By depositing this sum, you will be offered all features that are available on the brokerage firm’s website, including trading platforms, analysis, and education features, various types of leverage, low spread, copytrading, etc.
The minimum deposit of $100 gives you access to both trading platforms that you can find there. Metatrader 4 is considered to be the best choice for all new traders. This is also a professional trading tool for seasoned market participants.
When it comes to Metatrader 5, this trading platform is a good solution for professional traders who want to have total control over their trading results as well as to conduct multi-asset management. Both platforms are provided by Metaquotes, one of the leading software producers in the niche.
MT4 and MT5 (short from Metatrader 4 and Metatrader 5) are designed to allow you to add third-party tools there. For instance, if you have created or bought an indicator based on the MQL4 language, you can easily add it to the platform. Moreover, those platforms allow you to upload various trading bots and scripts to facilitate your trading routine. What makes those pieces of trading software even more attractive is the ability to test strategies and EAs (short from expert advisors).
Comparing OctaFX Minimum Deposit with its Closest Competitors
The OctaFX minimum deposit is competitive as compared to the army or its rivals. For instance, if you have a closer look at Avatrade or Exness, you will find that the first offers a minimum deposit, which is equal to that of OctaFX, and the latter requires even more funds from traders to start with (you need to deposit $200 at least to buy and sell assets).
Moreover, unlike many other Forex brokers, who open their feature gradually, depending on what amount you deposit, OctaFX offers you the whole set of features for depositing $100 only.
How to Deposit and withdraw Funds with OctaFX
Depending on the region or particular location, you can deposit and withdraw funds using:
When picking a particular banking method, you should pay attention to the deposit and withdrawal time, as well as to fees. The latter is less interesting when dealing with OctaFX as both transactions are not subject to any commissions, meaning you don’t need to pay for transaction costs. However, you should learn more about the tariffs of each particular payment method or blockchain as you may have to pay third-party payment method provider fees.
As for transactions, they may take time to process. Most depositing operations are instant while withdrawing ones require from one to three hours for the OctaFX accountants to be completed. Moreover, OctaFX offers a special calculator allowing you to estimate the amount that will be credited to your trading account balance after you confirm a particular transaction.
OctaFX Minimum Deposit Experts Verdict
The minimum deposit at OctaFX is affordable and comfortable for trading. You can benefit from all features that are available for traders with even higher amounts.