OctaFX Opening Account, Deposit and Withdrawal
How to Open Account with OctaFX Broker?
To create account with OctaFX one must follow the following steps:
2. Click on Open account option on the top right corner.
3. Fill up required details. Login to your account.
4. Verify yourself by uploading required documents.
5. Fund your account and start trading.
To login into OctaFX account you just have to click on the login button present on the top right corner of the homepage, once you click it the below screen will be shown:
Enter your email Id and password, and you are good to go.
OctaFX Demo Account
OctaFX does offer a demo account with the help of which you can practice forex trading without limits.
When to use Demo Accounts?
There are several conditions where you can use a demo account such as:
- If you are new to trading and don’t have any idea how to trade on the trading platform.
- If you want to use a new trading strategy, then to test it out it is best to use a demo account.
- If you start using an automated trading platform, you can test it out on a demo account.
- If the reason you want to do forex is to check your skills.
OctaFX Deposit and withdrawal channels
The platform has a variety of options for depositing funds, the channels they provide are as follows:
Whereas the withdrawal channels are few but the most used one. Withdrawal channels they provide are as follows.
Deposit and withdrawal rate
There are no extra charges on deposit and withdrawal and the funds are credited back to your account within 24 hours. I used the platform UPI to fund my account and withdrawal will be done to my bank account. My funds were credited to my account within 24 hours.
In this article, we have learned the detailed procedure of opening an account with an OctaFX broker and along with that we also got to know about how to login into the OctaFX website to check your account details.
Apart from that we also discussed the demo account and when to use it. On the basis of my experience, I suggest newbies open a demo account first and then start with the MT4 platform once they get a hold of the market. However, most beginners and professionals use MT4 to trade.
We also learned about the deposit and withdrawing methods OctaFX offers. They provide more deposit options but withdrawal options are a few. I used UPI to make my funds transfer you can choose whichever you are comfortable is.