Do you want to know whether you should go for OctaFX South Africa as a trader or not? If so, you are lucky because, in this article, we will answer you and prove our answer as well. So, read this article comprehensively to get all information you should know about OctaFX South Africa.
OctaFX is one of the most famous FX brokers in Asia, maybe because of people’s mentality in that region of the world. But as a South African, it becomes a difficult decision to make whether OctaFX South Africa is a good choice.
So, let’s see what should you do about OctaFX South Africa:
An Overview of OctaFX South Africa
It is based and established in Kingston, while it also has some control over FX trading in Cyprus as an FX broker. OctaFX was established and created in 2011, and in this small time, it has shown great dedication and is now one of the most famous FX brokers worldwide. Perhaps, this is because OctaFX has advertised and is still advertising itself extremely nicely. OctaFX is an STP broker that is a brand owned by Octa Markets Incorporated.
Is it Safe to Trade with OctaFX?
Well, it is not that difficult thing that many FX and stock traders think. They think so deeply because it is the matter of so much money and assets, and they never want to lose anything and so you as well. But you can confidently say that OctaFX is a quite safe (less risky) broker to trade within South Africa. But how?
You must be thinking, why would you believe us. So for that, we have proof of our answer.
OctaFX South Africa is Regulated
Regulations of any broker are not the only reasons why OctaFX can be said to be a safe and sound broker. But we all know that if a broker is regulated, it means that it is not a fraud because everything is under one or more reliable security authorities.
OctaFX is regulated by tier 2 regulator CySEC (Cyprus Securities and Exchange Commission). But it is not the end because it is also regulated by St. Vincent and the Grenadines by a completely reliable security authority International Business Company (IBC).
Pros and Cons of OctaFX
If you are uncertain about any institute or agency, then the first task that you should do is to research its advantages and disadvantages. But here, you don’t need to be worried about OctaFX South Africa because we have done it for you. So, let’s see what OctaFX has got for you:
- It is a regulated broker by reliable authorities.
- You can enjoy commission-free trading.
- No need to pay any fees on deposit and withdrawal.
- In South Africa, their phone support system is not appreciable.
- There is no Islamic account for Muslims.
Do we Recommend OctaFX? (Conclusion)
It is an individual choice of everyone to go for it because we have shown you a few of its specialties and cons as well. But if you ask us, we will always say that you should give it a chance if you don’t get any other. It is a reliable and safe broker, but safety is not everything; you also have to see its trading styles and system. So, choose it if you think that it suits your trading style. For more information visit this site: forextradenews.