I’ve been trading with octafx for 7 months now and here is my experience for octafx to take into consideration. I think my experience might be helpful for the future octafx traders. Here are the advantages. They have swap-free accounts, no requotes (no at all), no strategy restrictions (almost all of them are allowed), EAs are allowed too. As for the disadvantages, I noticed the following. From my experience, they are definitely a dealing desk broker, not a non dealing desk like they say. Also, they are not regulated and it’s a big shame.
I never prefer talking about others issue, as I believe one should focus on his own and shouldn’t interfere. I feel happy with OctaFX and for me, it’s really what matters. However, I believe it’s always good to share personal views whether it’s positive or negative, as it’s always something we can know about especially like you said newbies that might be part of it in future. The best thing for me is their ECN account, as no re quote is something great for me during high impact news!
"almost all of them are allowed"
Which ones are restricted though? I’m a scalper, my main question is scalping. I’ve been thinking about OctaFx as well (I’ve been trading on their demo for quite some time, so I guess it works, but can the rules differ on demo and live?)
Why do you say they’re dealing desk? Is it too bad? I mean how does it affect you?
I prefer to actually talk about others’ issues!
Arbitrage is restricted, for example, maybe smth else, I’m not sure. Scalping is allowed for sure!
As for me DD brokerage is a bull s**t!!! It’s really hard to find a real NDD broker :mad: They are DD because they take orders against your orders, you know what I am talking about?. in fact true NDD would charge higher spreads and commissions.
Wait are you sure? If they are kinda against you, it would be profitable for them if you lose. Or am I wrong? And they say they have a few liquidity providers, so it looks like a nondealing desk stuff. And their spreads are not fixed. Again, tell me if I’m wrong, I’m still a relative newbie in trading.
You seem to be a real newbie (just kidding) :). Almost all the brokers nowadays are DDs and it doesn’t matter what strategies they allow or not. What I’m trying to say is that it’s not bad to be either NDD or DD even if I am not so happy about DD. It’s really bad to claim one thing and to be another. Looks shady.
Do they claim DD or NDD? I see they mention ECN (since they have an ECN account). The other two are probably not.
They claim they are NDD…Do you think that this is enough to offer ECN accs to be NDD?:58:
As mentioned by Rainer Hummel, Arbitrage strategy is restricted with OctaFX while scalping or others are allowed, I believe you can even confirm it with their customer service. So, I guess that should be enough for you if you are a scalper.
I actually meant by interference in others matters, but of course, it’s a forum so that’s something ruled out unless certain reasons. So, I too will love to talk about issues if they aren’t personal.
Only one out of three, to be precise! At least that’s what I see they have on their website. I saw the brokers offering some wider options choice…
I will just hold my own opinion, I’ve also heard about this from others.
Have you tried other brokers on live accounts?
Of course I tried other brokers, but I don’t want to talk about them here in this thread, I started this thread to share my opinion on octafx and to get smth back.
Is Octaf your current broker? Cause I’m looking at Etoro now as well, and if you happen to know smth good or bad about it, would be great. It’s like everywhere, so Im kind of hesitant here (they seem to be big, but are big ones good with the new traders?), so may be I should try depositing with a few brokers…
I did it some time ago but had some troubles with skrill… At first it was great and worked but then smting happend to them and I shifted back to safe demos (I’m so cautios lol). Now a bit scared to come back to live. Its always quite a stress.
To the OP… looks like you spent too much in Thailand
www.octafx.com: My comment when I used to trade with this broker. That is, it is recommended that if you want to trade, open a Ctrader account with a fairly low spread because it is an ECN account. Meanwhile, MT4 is also normal compared to Standard accounts of other brokers. a bad thing is their license in St. Vincent and the Grenadines
If choosing I think you should choose www.icmarkets.com which has a strong point about very low spreads.
Or you can also see some of my comments In search of the Best Broker to start Forex trade