OCTAFX Spreads, leverage, minimum deposit Revealed

　　Basic Information & Regulators of OTCAFX

　　Octa Markets was established in 2017 with the aim of developing into a reputable, reliable, fair, and transparent forex trader. Octa Markets was authorized and regulated by the Cyprus Securities and Exchange Commission in 2018 (license number: 372/18).

　　Safety Analysis of OTCAFX

　　Octa Markets holds a full license from CySEC, a regulatory body that regulates forex fairly strictly, and therefore, a certain level of security can be ensured. Moreover, the trader has initiated a negative balance protection policy for each account, which completely separates the client's funds from the broker's operating funds to protect the safety of the client's funds.

　　Market Instruments

　　Octa Markets offers investors the most popular tradable instruments on the financial markets, mainly spot Forex, CFDs on stock indices, CFDs on spot metals, CFDs on commodities.

　　Leverage & Account of OTCAFX

　　Octa Markets offers two different account types for conservative and aggressive traders: MetaTrader5 account and cTrader account. The maximum leverage of the account is set according to the amount of money deposited by the trader's registration. The maximum default leverage is 1:20 for major currency pairs, 1:20 for minor currency pairs, gold and major indices, and 1:10 for commodities other than gold and non-major stock indices.

　　Spreads & Commission Fees of OTCAFX

　　The minimum spread for EURUSD is 0.4 pips, for GBPUSD 0.5 pips, and for EURGBP 0.6 pips. The minimum spread for spot gold is 0.8 pips, and for spot silver is 1.0 pips. The minimum spread for MetaTrader5 accounts starts from 0.3 pips, and no commission is charged for Forex and precious metals trading. cTrader accounts have a minimum spread of 0.0 pips, and a commission is charged for trading, which includes the opening fee for one side and the closing fee for the other side. There is no SWAP for both accounts. The trading commission on the cTrader Platform consists of a side charge for the opening of the position and another side charge for the closure of the trade.

　　Trading Platform Applied of OTCAFX

　　Octa Markets provides traders with two market-leading and high-performance trading software packages: MT5 and cTrader5. MT5 is the latest version of the multifunctional trading platform with a powerful trading system that supports various order types, including markets, pending orders, and stop orders, and supports desktop, web, Android, and iOS versions. cTrader5 features secondary quotes, server tracking, stops, cloud services to keep all accounts and templates in one place, one-click trading, and advanced charting features. Traders have the flexibility to choose the trading software according to their needs.

　　Deposit & Withdrawal of OTCAFX

　　Octa Markets Cyprus Ltd does not charge its clients any fees. Moreover, deposit and withdrawal fees applied by third parties are also covered by the broker Octa Markets supports wire transfers with a minimum amount of 50 Euros, which can be received within 3 to 7 business days.