Is OctaFX legit in Nigeria?

OctaFX is a CySEC regulated Forex broker, so it is considered safe for Nigerian traders to trade with them. Their spreads for major currency pairs is quite competitive. … Local deposit & withdrawals options available in Nigeria, and they don’t charge any fees with this method.

Can OctaFX be trusted?

Is OctaFX Safe? OctaFX is considered high-risk, with an overall Trust Score of 61 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Does OctaFX have Naira account?

Deposit and withdraw funds with your local bank! OctaFX is glad to announce that we now accept Nigerian naira for deposit and withdrawal. … You can deposit or withdraw any amount starting from 2,000 naira—no limit on maximum amounts.

How do I trade on OctaFX in Nigeria?

How to start trading in 4 easy steps

  1. Open an account with OctaFX. With an OctaFX account, you can access the foreign exchange market and start trading. …
  2. Make a deposit. Log in to your Personal Area to make a deposit without any commissions. …
  3. Sign in to the web-based platform. …
  4. Start trading.
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Which is the best forex broker in Nigeria?

Top 10 Forex Brokers In Nigeria

  • Markets.com – Best Forex Broker In Nigeria.
  • Pepperstone – MT4 Best Forex Trading Platform.
  • FP Markets – STP Forex Trading Account.
  • FXTM – Nigerian Naira (NGN) Funding.
  • IC Markets – Lowest Spread Nigerian Broker.
  • HotForex – Best High Leverage Forex Broker.

Where is OctaFX located in Nigeria?

OctaFX is our 3rd ranked forex broker for Nigerian traders.

OctaFX – a quick look.

Broker Name OctaFX Nigeria
Address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent And Grenadines
OctaFX Minimum Deposit $50 (₦18,000)
Maximum Leverage 1:500
Regulation CySEC (372/18), SVGFSA (19776)

Can I withdraw money from OctaFX?

Please note that you can only withdraw funds if your account is verified.

How fast is OctaFX withdrawal?

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.

What is fixed rate in OctaFX?

1 US$ = 55 Rs.

The fixed Indian rupee rate option is only available for the OctaFX MT4 and OctaFX MT5 accounts where USD is account currency. … Any deposit bonuses can be added to the fixed rate accounts only after the rate is applied and the USD is credited to the account. A client can use 10%, 30%, 50% deposit bonus.

Is OctaFX legal?

Yes, OctaFX is legal in India. According to the broker’s website, it is fully compliant with international legislation and allowed to operate worldwide.

How long does OctaFX deposit take?

The deposits are instant but may take up to three hours for certain methods. You can find all details on the payment method in your country on a special page.

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Who owns OctaFX?

Georgios D. Pantzis – CEO / General Manager – OCTAFX | LinkedIn.

How does OctaFX make money?

OctaFX offers comprehensive video tutorials as well as articles, manuals, traders’ tools, and much more.

  1. Establish a trading strategy. …
  2. Understand the impact of forex leverage. …
  3. Implement a risk management plan. …
  4. Practice with your demo account. …
  5. Avoid emotional trading. …
  6. Understand tax implications.

Which trading app is best in Nigeria?

7 Best Forex Trading Apps in Nigeria 2021

  • AvaTrade – Best Forex Trading App.
  • XM – Fastest Execution Speed.
  • HotForex – Best App for Forex Analysis.
  • eToro – Best App for Social Traders.
  • markets.com – Most Instruments to Trade.
  • XTB – Best Regulated Forex Broker.
  • FXTM – Best App for Automated Trading.

Is OctaFX a regulated broker?

OctaFX is an umbrella brand used by two independent broker entities. Octa Markets Cyprus Ltd is an investment firm registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) using the domain OctaFX.eu.

Which trading platform is best in Nigeria?

The Top 6 Trading Platforms in Nigeria

  1. eToro. Created in 2007 as an Israeli fintech company, eToro is one of the most popular online brokers and offers a wealth of trading opportunities globally. …
  2. Olymp Trade. …
  3. Capital.com. …
  4. XTB. …
  5. FXTM. …
  6. Saxo Bank.