OctaFX Broker in Pakistan Complete Review

OctaFX is an online forex broker. Octa FX offers access to some financial markets to be traded with, including:

  • Forex Currency Pairs
  • Stocks Indices
  • Cryptocurrencies
  • Precious Metals
  • Commodities

The above assets can be traded on several trading platforms, like:

  • Meta Trader 4
  • Meta Trader 5
  • cTrade

OctaFX In Pakistan

There are three methods of deposit and withdrawal in Pakistan.

1)       E-Currency (if you have ever gone through skill so it is possible to withdraw and deposit your currency). If not so you have to deal with a little bit of difficulty. To use E-Currency you have to pass both levels of Forex verification.

2)       As before you can easily deposit or withdraw your currency in PAKISTAN via bank but nowadays STATE BANK restricted it due to some reasons so you are not able to withdraw/deposit. If you any ATM card with you along with the bank’s permission so you can go through it.

3)       We have an international team from the USA and UK who can withdraw/deposit, for this, we give account numbers to the customer in which they can deposit their amount in Rupees. After depositing in local bank customer informs us and provides FOREX number and other required details to us, within one hour we deposit your amount to the Forex account. As this is through the international bank so there include some extra charges which customer has to pay. This is somehow costly but there is only a legal and secure way. Customers mostly go with the third step.

 

OctaFX Profit Calculator

It is a simple tool to help Forex traders to buy and invest something big. For this you need to select the currency pair and volume you want to trade, the way you want to trade, Toggle the open and close both prices to calculate your profit potentials. To get familiar with this app you need to go through it keenly and observe so that you will be able to know the movements of the market and deal with your trading with this handy machine. This calculator shows a breakdown of your net profit, including gross profit, swaps, and trading fees.

OctaFX Deposit Methods

You need to make a deposit in the beginning. OctaFX does not charge a commission on deposits or withdrawals. Moreover, OctaFX covers fees applied by payment systems. It also does not limit the number of deposits per day. Deposits are processed within 1-3 hours whereas credit/debit cards and e-wallet deposits are instant.

The minimum deposit on MetaTrader 5 is $500. Forex traders from Indonesia, Pakistan, Malaysia, Thailand, and India can deposit and withdraw using their local banks at any time they need.

As mentioned earlier, for those who cannot use local banks we support different payment services and credit cards:

Credit Or Debit Visa Cards

Please, notice, that according to our AML policy you will need to verify your credit/debit card as we cannot accept transactions from the third parties. In order to make a deposit, you have to enter the deposit amount, confirm it and fill your credit/debit card details in the form.

Bitcoin

You can also deposit with Bitcoin. After selecting ‘bitcoin’ in the list, you will see the current exchange rate and address of your wallet. The next step is to open your bitcoin wallet and process transaction.

 

Skrill

Skrill is formally known as Money bookers. It is the most reliable and faster payment transaction method. It allows the users to do payments around the globe with the help of an online deposit account. In the personal accounts of the user’s e-wallet, one can transfer or receive skrill to skrill amounts, which is by all means better than sending or receiving cheque, money order or wire transfers.

 

OctaFX Withdrawl Options

For this process, you need to undergo further steps.

Log in to your personal area on your site. Two ways to withdraw

1)       Wallet account

2)       Trading account.

Have a look at withdrawing from your wallet-Open the app and view the main menu by entering the icon in the right-top of the screen. Then press “withdraw” under your wallet balance.

By selecting the account you want to withdraw money from on the main screen. Then press Withdraw.

You will see a full list of payment options available in your region. Pick the one that suits you best and press next.

The site usually processes withdrawal requests for 1–3 hours, but it’s up to your payment system how long it will take the money to reach the destination.

 

Withdrawal From Skrill

It is very easy to withdraw amounts from Skrill to any Pakistani bank. The user just has to keep in mind the following simple tips.

  • The first step is to attach your by inserting Swift Code and bank name’s the correct spelling in the My Account > My Profile > List of Bank Accounts > Bank section.
  • Once the information is inserted, your bank would get attached with your profile. The spelling on your bank account and Skrill should be same otherwise no payment would be transacted by them to your bank due to security reasons.
  • If someone has sent you amount into Skrill then you can withdraw the amount by going to withdrawal option available in your dashboard.
  • The site usually charges from $3 to $20 for every withdrawal depending upon how much amount you are going to withdraw.

 

By Credit Card/Debit Card

Once you have decided to withdraw funds, select credit card, bank card or debit card as your withdrawal method while processing the transaction. This form is the best, easiest and convenient way to use.

 

By Digital Wallet/Ewallet

If the user has transferred the funds through eWallet, this option is available to you. You can only withdraw money to your eWallet account used for the deposit.

 

By Wired Bank Transfer

This withdrawal is subject to charges and takes longer than usual. Although this sounds like a last resort for withdrawing money, there are two benefits of withdrawing money through this procedure. These include:

 

  • It is safe and very much secure.
  • It is a complaint of anti-money laundering law which states that you can only withdraw money, exceeding your investment, through banking channel hence no issue there.

Frequently Asked Questions

The following are some of the FAQs on the internet by online users.

 

What Is The Minimum Deposit For OctaFX?

OctaFX minimum deposit is only $5 for the Micro account and $50 for the other account types. You can use up to 1:500 leverage; you can trade over 20 currency pairs, Gold, Silver and other. Spreads are floating; starting at 0 pips depends on the currency pairs.

Is OctaFX Trusted?

Absolutely, OctaFX is one of those Forex brokers that have an excellent reputation in the financial markets due to their unique service offering, which caters to the different requirements of a wide variety of retail traders.

How Long Does It Take To Withdraw From OctaFX?

We usually process withdrawal requests for 1–3 hours, but it’s up to your payment system how long it will take the money to reach the destination. For different local banks, these limits may vary.

 

Is Olymp Trade Legal In Pakistan?

Yes, Olymp Trade is legal in Pakistan. The traders from Pakistan can trade online Olymp trade.

 

How Do I Use OctaFX?

How to start trading in 4 easy steps

Register with OctaFX by opening an account. Having an account allows you to access your personal space on our website so that you can trade with OctaFX.

  • Make a deposit.
  • Login to your Personal account to make a deposit.
  • Sign in to the web-based platform.
  • In the end, click “Buy” or “Sell”.

 

Is OctaFX Regulated?

OctaFX is regulated in Cyprus and Saint Vincent and Grenadines. Their regulatory licenses are:

  • CySEC (Cyprus Securities and Exchange Commission)
  • Saint Vincent And Grenadines FSA(Financial Service Authority)

 

How Do I Deposit Into OctaFX?

To make a deposit, follow the below steps to get it done.

  • Log in to your Personal Area.
  • Select the account you would like to deposit at the top of the page.
  • Switch to the payment system you would like to use under the Deposit my account section on the right.
  • Enter the amount to deposit.
  • Click “Continue”.
  • In the end, just click “Confirm”.

 

What Is The Best Forex Broker?

Following are some of the best-recommended forex brokers available.

  • CMC Markets – Best web platform, most currency pairs.
  • Dukascopy – Well-rounded offering.
  • TD Ameritrade FX – Excellent trading platform, US only.
  • City Index – Great all-around offering.
  • com – Excellent platforms and pricing.
  • XTB – Best customer service, great platform.
  • FXCM – Well-rounded offering.